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DNR COLORADO LOAN SNAPSHOT <br /> CO Colorado Water First Annual Payment Due: December 1, 2017 <br /> Conservation Board <br /> Annual Payment Amount: $26,776.25* <br /> Department of Natural Resources <br /> *Requires contract amendment. <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> November 21, 2016 <br /> Mr. Terry Plummer <br /> Left Hand Ditch Company <br /> PO Box 299 <br /> Niwot, CO 80544 <br /> Re: Emergency Left Hand Ditch System Repairs <br /> Loan Contract Number CT2015-008 (C150370) <br /> NOTICE - COMMENCEMENT OF LOAN REPAYMENT PERIOD <br /> Dear Mr. Plummer: <br /> This letter is to notify you that the Project referenced above is at the end of the 3-year no interest <br /> period. The 27-year repayment period begins on December 1, 2016. No payment is due at this time; the <br /> first annual payment will be due on December 1, 2017. During the repayment period interest will <br /> accrue on the loan balance and no further disbursements can be made. <br /> The total amount disbursed under this contract was $1,203,086.40 ($1,191,174.65 plus $11,911.75 for <br /> the 1% service fee). An adjustment of $2,072,969.60 was made for funds not needed. You have applied <br /> $668,958.61 in principal prepayments, bringing your final loan balance to $534,127.79. Peg Mason will <br /> initiate the process of amending the contract and Promissory Note to reflect the final loan balance. <br /> The annual loan payment based on the final loan balance is $26,776.25 (see attached Loan Repayment <br /> Schedule). <br /> If you should receive additional FEMA grant funds for the Project, please remember that the loan <br /> contract obligates you to apply those funds to the loan principal balance within 30 days. <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. It has been a pleasure working with you on the <br /> successful completion of this project. Please don't hesitate to call if you have any questions regarding <br /> this matter. <br /> Sincerely, <br /> \i±,4 <br /> Loan Contract Amount = $3,276,056.00 <br /> Disbursed Amount = $1,203,086.40 <br /> Kirk Russell, P.E., Chief Principal Prepayments = $668,958.61 <br /> CWCB Finance Section Final Loan Balance = $534,127.79 <br /> 01- coi .. <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 /> « ;ri <br /> * /876 <br /> ....1876;, <br />