C150114 Substantial Completion Letter

• Contract/PO #: C150114
• Contractor Name: Loma Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Project Completion Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street,Room 721 ,
Denver,Colorado 80203 °a
Phone:[phone]
FAX:[phone] • 9 ``•
www.cwcb.state.co.us
September 10,2003 Bill Owens
Governor
NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT SCHEDULE Greg E.Walther
Executive Director
Rod Kuharich
Mr.Terry Retherford,President CWCB Director
LOMA Ditch and Lateral Company
P.O.Box 11 Dan McAuliffe
LOMA,CO. 81524-0011 Deputy Director
Re: Contract Number C150114— LOMA Irrigation Lateral Reconstruction Project
Dear Mr.Retherford,
This letter is to advise you that the work described in the above referenced Contract was substantially completed as of
July 1,2003.
In accordance with the Contract,the LOMA Ditch and Lateral Company owes$1,921.66 for interest during construction
as calculated on the attached spreadsheet. Your interest during construction payment of$1,921.66 has been deducted from the
$75,000 payment you made towards your loan in August of 2003,which is illustrated on the attached Loan Repayment Schedule.
As requested,your loan has been amended to reflect the$233,756.86 you actual borrowed,less the$73,078.34 principal
payment you made in August of 2003. Your new principal loan balance is $160,678.52 with your first annual payment of
$7,935.02 being due on July 1,2004. Jan lllian from our office will be providing you with an amended promissory note in the
near future.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the
renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually.
It has been a pleasure of the Colorado Water Conservation Board to work with the LOMA Ditch and Lateral Company
on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be of service
to you in the future.
Sincerely,
End'
Mike Serlet,P.E.
Chief,Water Supply Planning and Finance Section
cc. Greg Hoskin,CWCB Board Member
DNR Accounting
Water Supply Planning and Finance Section
Project file
Contract file
Accounts Receivable Contract Amount =$250,235.00
Expended Amount = $160,678.52
Flood Protection•Water Supply Planning and Finance•Stream and Lake Protection
Water Supply Protection•Conservation and Drought Planning