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COLORADO <br /> DNR LOAN SNAPSHOT <br /> CO Colorado Water First Annual Payment Due: January 1, 2018 <br /> Conservation Board <br /> Department of Natural Resources Annual Payment Amount: $20,847.63* <br /> *Requires contract amendment. <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> December 30, 2016 <br /> Ms. Minerva Lee, President <br /> Consolidated Home Supply Ditch and Reservoir Company <br /> PO Box 1548 <br /> Berthoud, CO 80513 <br /> Re: Emergency George Rist Ditch Repair <br /> Loan Contract Number CT2015-020 (C150380) <br /> NOTICE - COMMENCEMENT OF LOAN REPAYMENT PERIOD <br /> Dear Ms. Lee: <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 January 1, 2017. No payment is due at this time; the <br /> first annual payment will be due on January 1, 2018. During the repayment period, interest will accrue <br /> on the loan balance and no further disbursements can be made. <br /> The total amount disbursed under this contract was $491,111.77 ($486,249.28 plus $4,862.49 for the 1% <br /> service fee). An adjustment of $28,028.23 was made for funds not needed. You have applied <br /> $56,700.16 in principal prepayments, bringing your final loan balance to $434,411.61. 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 $20,847.63 (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. <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 /> Loan Contract Amount = $519,140.00 <br /> Disbursed Amount = $491,111.77 <br /> Kirk Russell, P.E., Chief Principal Prepayments = $56,700.16 <br /> CWCB Finance Section Final Loan Balance = $434,411.61 <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 /> ,.1e7€ <br />