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DNR COLORADO <br /> CO % Colorado Water <br /> .. Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> May 8, 2015 <br /> Mr. Mike Bollinger, General Manager <br /> Farmers High Line Canal and Reservoir Company <br /> 725 Malley Drive <br /> Northglenn, Colorado 80233 <br /> Re: System Rehabilitation Project <br /> Loan Contract Number CT2015-019 (C150314) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Bollinger: <br /> This letter is to advise you that the Project referenced above was substantially completed on May 1, <br /> 2015. In accordance with the Loan Contract, the Company owes $197,846.82 for interest accrued <br /> during the construction phase of the Project (see attached Project Expenditure Schedule). Please make <br /> this "interest only payment" check payable to the Colorado Water Conservation Board and include the <br /> Loan Contract Number referenced above on the check. <br /> The total amount disbursed under this contract was $2,129,918.30 ($2,108,830.00 plus $21,088.30 for <br /> the 1% service fee). An adjustment of $79,678.70 will be made to the contract for the funds no longer <br /> needed. The first annual loan payment in the amount $138,054.23 will be due on May 1, 2016. (See <br /> attached Loan Repayment Schedule.) <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 /> a (2----9"( <br /> Kirk Russell, P.E., Chief Loan Contract Amount = $2,209,597.00 <br /> CWCB Finance Section Expended Amount = $2,129,918.30 <br /> cc: Diane Hoppe, CWCB Board Member, South Platte River Basin <br /> Fco <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us Newo o <br /> John W. Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director \ * ),* <br /> sus / <br />