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<br />." <br />. <br /> <br />e <br /> <br />. ' <br /> <br />e <br /> <br />e <br /> <br />~-~Q-~~~ ~r'~~ <br /> <br />;::JrU'T'orC;"""';;;J.l.O <br /> <br />ct'(J.~ut:. ;:)IANWfollY Go r->>-llKt-'ct< t-'\.,; <br /> <br />to'.lOC::: <br /> <br />BEAVER RESER.VOIR COMPANY <br />1404 4100 ROAD <br />PAONIA. CO 81428 <br /> <br />April 28. 1998 <br /> <br />Colorado Water Conservation Board <br />c/o Mike Serlet <br />PAX No. (303) 866-4474 <br /> <br />RE: LOAN CONTRACT BEAVER RESERVOIR COMPANY <br /> <br />Dear Board Members: <br /> <br />The Beaver Reservoir Company appreciates the opportunity to address you on May 12, <br />1998, and to express our concerns and requests for revisions in the contract terms relating to <br /> <br />1, Date of payment of construction interest; <br />2. Deferment of an Inml~l payment; <br />3, "Rolling" of construction interest into the loan balance; and/or <br />4, Additional grant of funds to assist in cost overruns of the project. <br /> <br />In addition, we also intend to address the variance between the tcnns for repayment of <br />the $42,000.00 feasibility slUdy costs paid by the Colorado Water Conservation Board as <br />approved in September. 1992, versus the terms now proposed. <br /> <br />These matters will be addressed in greater detail when we meet with you on May 12. <br />1998. Thank you for your consideration and assistance. <br /> <br />JRB/mp <br /> <br />