CT2015-176 Substantial Completion Letter

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COLORADO Colorado Water AV Conservation Board Department of Natural Resources 1313 Sherman Street, Room 718 Denver, CO 80203 February 28, 2016 Mr. Larry Moore, General Manager Pium Valley Heights Subdistrict of the Roxborough Water and Sanitation District 6222 N Roxborough Park Road Littleton, CO 80125 Re: Raw Water Supply Project Loan Contract Number CT2015-176 NOTICE OF PROJECT SUBSTANTIAL COMPLETION Dear Mr. Moore: This letter is to advise you that the Project referenced above was substantially completed on February 1, 2017. In accordance with the Loan Contract, the Company owes $9,486.42 for interest accrued during the construction phase of the Project (see attached Project Expenditure Schedule). Please make this "interest only payment" check payable to the Colorado Water Conservation Board and include the Loan Contract Number on the check. The total amount disbursed under this contract was $2,248,260.00 ($2,226,000.00 plus $22,260.00 for the 1% service fee). The first annual loan payment wilt be due on February 1, 2018, in the amount of $115,447.15 as presented in the attached Promissory Note and Loan Repayment Schedule. Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan Contract, a renewed insurance certificate must be submitted to the CWCB annually and a Reserve Account must be maintained during the entire repayment period. It has been a pleasure working with you on the successful completion of this project. Please don't hesitate to call if you have any questions regarding this matter. Sincerely, r ?—k Kirk Russett, P.E., Chief Loan Contract Amount = $2,248,260.00 CWCB Finance Section Expended Amount = $2,248,260.00 ec: Patricia Wells, CWCB Board Member, City and County of Denver P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director