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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 /> July 6, 2016 <br /> Mr. Ron Brinkman, General Manager <br /> Greeley 8 Loveland Irrigation Company <br /> 808 23rd Avenue <br /> Greeley, CO 80634 <br /> Re: Irrigation Systems Improvements Project <br /> Loan Contract Number CT2015-022 (C150362) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Brinkman: <br /> This letter is to advise you that the Project referenced above was substantially completed on July 1, <br /> 2016. In accordance with the Loan Contract, the Company owes $79,299.38 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 on the check. <br /> The total amount disbursed under this contract was $3,745,080.00 ($3,708,000 plus $37,080.00 for the <br /> 1% service fee). The first annual loan payment will be due on July 1, 2017, in the amount of <br /> $170,686.09 as presented in the attached Promissory Note and 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 /> vQ ? <br /> Kirk Russell, P.E., Chief Loan Contract Amount = $3,745,080.00 <br /> CWCB Finance Section Expended Amount = $3,745,080.00 <br /> ec: Jim Yahn, CWCB Board Member, South Platte River Basin <br /> <QQrj <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us FT <br /> John W. Hickenlooper, Governor 1 Robert Randall, DNR Executive Director 1 James Eklund, CWCB Director * <br />