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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 2, 2014 <br /> Mr. Richard Belt, P.E. <br /> Fisher Ditch Company <br /> 1800 Larimer Street, Suite 1300 <br /> Denver, CO 80202 <br /> Re: Ditch Infrastructure Improvements Project <br /> Loan Contract Number C150319 <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Belt: <br /> This letter is to advise you that the Project referenced above was substantially completed on July 1, <br /> 2014. In accordance with the Loan Contract, the Company owes $6,286.32 for interest accrued during <br /> the construction phase of the Project (see attached Project Expenditure Schedule). Please make this <br /> "interest only payment" check payable to the Colorado Water Conservation Board and include the Loan <br /> Contract Number C150319 on the check. <br /> The total amount disbursed under this contract was $110,780.84 ($109,684 plus $1,096.84 for the 1% <br /> service fee). An adjustment of$343,719.16 will be made to the contract for the funds no longer <br /> needed. Peg Mason will initiate the process of amending the contract and Promissory Note. The first <br /> annual loan payment will be due on July 1, 2015. <br /> Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan Contract, a <br /> renewed insurance certificate must be submitted to the CWCB annually and a Reserve Account must be <br /> maintained during the entire repayment period. <br /> It has been a pleasure working with you on the successful completion of this project. Please don't <br /> hesitate to call if you have any questions regarding this matter. <br /> Sincerely, <br /> rTh <br /> Kirk Russell, P.E., Chief Loan Contract Amount= $454,500.00 <br /> CWCB Finance Section Expended Amount = $110,780.84 <br /> ec: Diane Hoppe, CWCB Board Member, South Platte River Basin <br /> pF CoCO <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us yT ?' <br /> John W. Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director \* <br /> Ig76�-' <br />