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<br />. <br /> <br />. <br /> <br />Mr. Robert o. Engelke <br />May 15. 1987 <br />Page two <br /> <br />I should stress that this letter does not constitute an <br />amendment to either of the subject contracts. and that the CWCB <br />does not waive any of its rights under those contracts. This <br />letter merely constitutes notice of the CWCB's present <br />intention. as a voluntary. nonbinding accommodation to Fruita. <br />to allow Fruita to defer making its 1987. 1988. and 1989 annual <br />payments under each contract. The CWCB reserves its right to <br />review at any time its decision to allow Fruita to defer the <br />1987. 1988, and 1989 annual payments. and to demand that Fruita <br />bring its payments up to date in accord with the terms and <br />conditions of the contracts. The CWCB will not make any such <br />demand without first giving Fruita 90-days written notice. I <br />should also note that. even if the 1987. 1988. and 1989 annual <br />payments are deferred to later years. the CWCB still expects <br />that annual payments under both contracts will resume in 1990. <br /> <br />I look forward to receiving a letter from you regarding <br />Fruita's agreement to furnish financial budgetary information <br />by November 1. 1989. and to include in any contract amendments <br />a provision for the payment of interest on any deferred annual <br />payments. Please feel free to contact me if you have any <br />questions or comments about this matter. <br /> <br />Sincerely. <br /> <br />, [:\ ')--/. \ <br />rv . c . 'L.-L-L----C. <br /> <br />N. C. loa nides. P.E.. Jhief <br />Project Planning and <br />Construction Section <br /> <br />NCI/gl <br /> <br />. . _ . -:-. - -' -:'-~ ~- >':-~----:--"---['i::'~'-,<:"':J.~~ :-=:'-,r-.': c-~_~_)_~ ~:~1:-_~__~~:"--';~~+~~~-'P7:'- --. ~;' "'~-' <br />