C150392 Substantial Completion Letter

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ATCOLORADO Colorado Water LOAN SNAPSHOT Conservation Board First Annual Payment Due: June 1, 2018 Department of Natural Resources Annual Payment Amount: $4,921.03 1313 Sherman Street, Room 718 Denver, CO 80203 May 15, 2017 Mr. David Jessup, General Partner Sylvan Dale Ranch, LLLP 2939 North County Rd 31 D Loveland, CO 80537 Re: Emergency Irrigation Pond Excavation Loan Contract Number C150392 NOTICE - COMMENCEMENT OF LOAN REPAYMENT PERIOD Dear Mr. Jessup: This letter is to notify you that the Project referenced above is at the end of the 3-year no interest period. The repayment period begins on June 1, 2017. No payment is due at this time; the first annual payment will be due on June 1, 2018. During the repayment period, interest will accrue on the loan balance and no further disbursements can be made. The total amount disbursed under this contract was $105,171.00 ($104,130.00 plus $1,041.00 for the 1% service fee). You have applied $83,664.00 in principal prepayments, bringing your final loan balance to $21,507.00. The annual loan payment based on the original loan balance is $4,921.03 (see attached 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, ,I Loan Contract Amount = $105,171.00 V Disbursed Amount = $105,171.00 Kirk Russell, P.E., Chief Principal Prepayments = $83,664.00 CWCB Finance Section Final Loan Balance = $21,507.00 P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us �o John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director