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DNR COLORADO <br /> 4.3 <br /> COColorado Water <br /> Conservation Board LOAN SNAPSHOT <br /> Department of Natural Resources First Annual Payment Due: March 1, 2018 <br /> Annual Payment Amount: $3,925.73* <br /> 1313 Sherman Street, Room 718 *Requires contract amendment. <br /> Denver, CO 80203 <br /> February 8, 2016 <br /> Mr. Jim Nankervis, President <br /> Culver Lateral Ditch Company <br /> P.O. Box 1826 <br /> Longmont, CO 80502-1826 <br /> Re: Emergency Culver Mahoney Ditch Repair <br /> Loan Contract Number C150390 <br /> NOTICE - COMMENCEMENT OF LOAN REPAYMENT PERIOD <br /> Dear Mr. Nankervis: <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 March 1, 2017. No payment is due at this time; the <br /> first annual payment will be due on March 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 $151,500 ($150,000 plus $1,500 for the 1% service <br /> fee). You have applied $73,190.31 in principal prepayments, bringing your final loan balance to <br /> $78,309.69. Peg Mason will initiate the process of amending the contract and Promissory Note to <br /> reflect the final loan balance. The annual loan payment based on the final loan balance is $3,925.73 <br /> (see attached Loan Repayment Schedule). <br /> If you should receive any FEMA grant funds for the Project, please remember that the loan contract <br /> 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 = $151,500.00 <br /> 1 Disbursed Amount = $151,500.00 <br /> Kirk Russell, P.E., Chief Principal Prepayments = $73,190.31 <br /> CWCB Finance Section Final Loan Balance = $78,309.69 <br /> /44,- COQ\. <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us ,'cel <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director ,*K .) */ <br /> �s76 <br />