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DNR COLORADO <br /> COColorado Water <br /> Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 721 <br /> Denver, CO 80203 <br /> April 14, 2016 <br /> Mr. Steven Griffith, President <br /> Upper Platte and Beaver Canal Company <br /> P.O. Box 69 <br /> Fort Morgan, CO 80701 <br /> Re: Hospital Road Recharge Facility and Bridge Widening Project <br /> Loan Contract Number CT2015-101 <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Griffith: <br /> This letter is to advise you that the Project referenced above was substantially completed on April 1, <br /> 2016. In accordance with the Loan Contract, the Company owes $2,292.69 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 CT2015-101 on the check. <br /> The total amount disbursed under this contract was $119,684.76 ($118,499.76 plus $1,185.00 for the 1% <br /> service fee). An adjustment of $71,205.24 will be made to the contract for funds no longer needed. <br /> Peg Mason will initiate the process of amending the contract and Promissory Note reflecting the <br /> adjusted amount. The first annual loan payment will be due on April 1, 2017, in the amount of <br /> $20,974.10 as presented in the attached 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 /> YN-1- <br /> Kirk Russell, P.E. Chief Loan Contract Amount = $190,890.00 <br /> CWCB Finance Section Expended Amount = $119,684.76 <br /> cc: Patricia Wells, CWCB Board Member, City Et County of Denver Basin <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us <br /> John W. Hickenlooper, Governor I Robert Randall, Interim DNR Executive Director I James Eklund, CWCB <br />