Laserfiche WebLink
DNR COLORADO <br /> COColorado Water <br /> _• Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> October 3, 2016 <br /> Mr. Eric Wilkinson, General Manager <br /> Northern Colorado Water Conservancy District <br /> 220 Water Avenue <br /> Berthoud, CO 80513 <br /> Re: Granby Hydropower Project <br /> Loan Contract Number CT2015-140 (C150396) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Wilkinson: <br /> This letter is to advise you that the Project referenced above was substantially completed on October <br /> 1, 2016. In accordance with the Loan Contract, the Company owed $87,798.86 for interest accrued <br /> during the construction phase of the Project (see attached Project Expenditure Schedule). Thank you <br /> for your prompt payment as we received this "interest only payment" on October 3, 2016. <br /> The total amount disbursed under this contract was $5,135,183.00 ($5,084,340.00 plus $50,843.00 for <br /> the 1% service fee). The first annual loan payment will be due on October 1, 2017, in the amount of <br /> $229,285.52 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 /> Z--(k <br /> Kirk Russell, P.E., Chief Loan Contract Amount = $5,135,183.00 <br /> CWCB Finance Section Expended Amount = $5,135,183.00 <br /> ec: Jim Yahn, CWCB Board Member, South Platte River Basin <br /> oFco-o <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us 43:7 of <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director \,' *i <br />