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DNR COLORADO <br /> CO Colorado Water <br /> ' Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 781 <br /> Denver, CO 80203 <br /> June 29, 2015 <br /> Mr. Richard McIntyre, President <br /> East Mesa Water Company <br /> 1625 Prince Creek Road <br /> Carbondale, CO 81623 <br /> Re: Ditch Piping Project <br /> Loan Contract Number CT2015-141 (C150360) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. McIntyre: <br /> This letter is to advise you that the Project referenced above will be substantially completed <br /> on July 1, 2015. In accordance with the Loan Contract, the Company owes $3,606.46 for <br /> interest accrued during the construction phase of the Project (see attached Project <br /> Expenditure Schedule). Please make this "interest only payment" check payable to the <br /> Colorado Water Conservation Board and include the Loan Contract Number on the check. <br /> The total amount disbursed under this contract was $732,926.92 ($725,670.22 plus $7,256.70 <br /> for the 1% service fee). A principal pre-payment of $365,508.50 has been subtracted from that <br /> amount and the final loan amount will be $367,418.42. An adjustment in the amount of <br /> $390,081.58 will be made to the contract. Peg Mason will initiate the process of amending the <br /> contract and Promissory Note after the pre-payment check is received. The first annual loan <br /> payment of $15,846.67 will be due on July 1, 2016 (see attached Loan Repayment Schedule). <br /> Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan <br /> Contract, a renewed insurance certificate must be submitted to the CWCB annually and a <br /> Reserve Account must be maintained during the entire repayment period. <br /> It has been a pleasure working with you on the successful completion of this project. Please <br /> don't hesitate to call if you have any questions regarding this matter. <br /> Sincerely, <br /> Kirk Russell, P.E., C ief Loan Contract Amount = $757,500.00 <br /> CWCB Finance Section Expended Amount = $732,926.92 <br /> cc: Russ George, CWCB Board Member, Colorado River Basin <br /> e oF4otoe�, <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us 01 <br /> John W. Hickenlooper,Governor I Mike King, DNR Director I James Eklund, CWCB Director \* <br />