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DNR COLORADO <br /> CO Colorado Water <br /> Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 721 <br /> Denver, CO 80203 <br /> July 31, 2014 <br /> Mr. Jerry Lorenz <br /> Sanchez Ditch and Reservoir Company <br /> P.O. Box 215 <br /> San Acacio, CO 81150 <br /> Re: Sanchez Reservoir Outlet Rehabilitation Project C150342 <br /> Mr. Lorenz: <br /> I am pleased to inform you that on July 17, 2014, the Colorado Water Conservation Board approved a loan <br /> increase Company for the Sanchez Reservoir Outlet Rehabilitation Project in the amount of$252,500 <br /> ($250,000 for project costs and $2,500 for the 1% Loan Service Fee) for a total not to exceed <br /> $1,381,276 ($1,367,600 for Project cost and $13,676 for the 1% Loan Service Fee). In addition, the loan <br /> terms shall be changed to 40 years at a rate of 2.0% per annum. <br /> As you are aware, an amended contract must be in place before funds can be disbursed. Peg Mason will <br /> initiate the loan amendment process. You can contact Peg at (303) 866-3441 x3227 regarding the status <br /> of the amendment. <br /> I have attached a copy of the updated Board memo dated July 18, 2014, that includes the Board's <br /> approval. <br /> On behalf of the Board, I would like to thank you for your interest in a loan from the Colorado Water <br /> Conservation Board. <br /> Sincerely, <br /> e..? <br /> Kirk Russell, P.E., Chief <br /> Finance Section <br /> Colorado Water Conservation Board <br /> Attachment: Updated Board Memo <br /> E-mail Copy (Including Attachments) <br /> Travis Smith, CWCB Board Member - Rio Grande River Basin <br /> CWCB Finance Section Staff <br /> OF HOC <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us 'E7/ ,0 <br /> John W. Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director `\\* *i <br /> \*_/876 a/ <br />