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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 8, 2016 <br /> Mr. Stan Myers, General Manager <br /> Boxelder Basin Regional Stormwater Authority <br /> c/o Pinnacle Consulting Group, Inc. <br /> 1627 East 18th Street <br /> Loveland, CO 80538 <br /> Re: East Side Detention Facility <br /> Loan Contract Number CT15-070 (C150353) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Myers: <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 $115,165.36 for interest accrued <br /> during the construction phase of the Project (see attached Project Expenditure Schedule). Please <br /> make this "interest only payment" check payable to the Colorado Water Conservation Board and <br /> include the Loan Contract Number on the check. <br /> The total amount disbursed under this contract was $7,171,000.00 ($7,100,000.00 plus $71,000.00 for <br /> the 1% service fee). The first annual loan payment will be due on July 1, 2017, in the amount of <br /> $589,880.53 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 /> 1 / <br /> Kirk Russell, P.E., Chief Loan Contract Amount = $7,171,000.00 <br /> CWCB Finance Section Expended Amount = $7,171,000.00 <br /> ec: Jim Yahn, CWCB Board Member, South Platte River Basin <br /> �4 c5 Coz <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director *• * <br />