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STATE OF COLORADO <br /> Colorado Water Conservation Board „),,„,, <br /> Department of Natural Resources of cotO l/= <br /> 1313 Sherman Street,Room 721 P-41' <br /> a l <br /> Denver,Colorado 80203 J* *`w <br /> Phone:(303)866-3441 $ <br /> Fax:(303)866-4474 1876 ' <br /> www.cwcb.state.co.us 9 <br /> May 28, 2014 John W.Hickenlooper <br /> Governor <br /> Mr. Charles Blount Mike King <br /> Twenty Two Road Lateral Company DNR Executive Director <br /> 881 22 Road James Eklund <br /> Grand Junction, CO 81505 CWCB Director <br /> Re: Twenty Two Road Lateral Replacement Project <br /> Contract Number C150345 <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Blount: <br /> This letter is to advise you that the Project referenced above will be substantially completed on June 1,2014. <br /> After taking into account interest prepayments,the Company owes$2,565.85 for interest accrued during the <br /> construction phase of the Project(see attached Project Expenditure Schedule). Please make this"interest <br /> only payment”check payable to the Colorado Water Conservation Board and include the Loan Contract <br /> Number on the check. <br /> The total amount disbursed under this contract was$517,848.00($512,720.00 plus$5,128.00 for the 1% <br /> service fee).After receipt of principal prepayments the total principal remaining on the loan is$117,609.02. <br /> Peg Mason will initiate the process of amending the contract and Promissory Note.The first annual loan <br /> payment of$5,507.30 will be due on June 1,2015 (see attached Amortization Schedule). <br /> Please note,in accordance with the Borrower's Liability Insurance Provision of the Loan Contract,a renewed <br /> insurance certificate must be submitted to the CWCB annually and a Reserve Account must be maintained <br /> • <br /> during the entire repayment period. <br /> It has been a pleasure working with you on the successful completion of this project.Please don't hesitate to <br /> call if you have any questions regarding this matter. <br /> Sincerely, <br /> \LC( A <br /> Kirk Russell,P.E., Section Chief Loan Contract: $517,848.00 <br /> CWCB Finance Section Expended: $517,848.00 <br /> Amended Contract: $117,609.02 <br /> ec: Russell George,CWCB Board Member—Colorado River Basin <br /> CWCB Finance Staff <br /> Interstate Compact Compliance•Watershed Protection•Flood Planning&Mitigation•Stream&Lake Protection <br /> Water Project Loans&Grants•Water Modeling•Conservation&Drought Planning•Water Supply Planning <br />