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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 28, 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: Larimer and Weld Canal Crossing Structure Project <br /> Loan Contract Number CT2015-071 (C150352) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Myers: <br /> This letter is to advise you that the Project referenced above will be substantially completed on August <br /> 1, 2016. In accordance with the Loan Contract, the Authority owes $7,405.71 for interest accrued <br /> during the construction phase of the Project (see attached Project Expenditure Schedule). Please make <br /> this "interest only payment" check payable to the Colorado Water Conservation Board and include the <br /> Loan Contract Number on the check. <br /> The total amount disbursed under this contract was $835,104.53 ($826,836.17 plus $8,268.36 for the 1% <br /> service fee). An adjustment of $174,895.47 will be made to the contract for the funds no longer <br /> needed. Peg Mason will initiate the process of amending the contract and Promissory Note. The first <br /> annual loan payment of $68,695.01 will be due on August 1, 2017 (see attached Loan Repayment <br /> 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 /> Kirk Russell, P.E., Chief Loan Contract Amount = $1,010,000.00 <br /> CWCB Finance Section Expended Amount = $835,104.53 <br /> ec: Jim Yahn, CWCB Board Member, South Platte River Basin <br /> G <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us s, <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director <br />