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"",,, ~ ~ . . Mr. William McClary March 24, 1992 Page two Contract number Date of contract Amount of contract Length of contract Interest rate Amount of payments Date of first payment Payments made to date Amount outstanding 153488 March 1, 1987 $75,000 40 years 5 percent $4,371 1st month after completion of Phase ill or on December 1, 1988, whichever occurs later o $63,026.78" " S-SDWCD has used this amount of the $75,000 leaving a balance of $11,973.22 available to the District. The District at its option may request a contract amendment reducing the contract amount by this amount and thereby reduce the annual payment. In addition to the above items, we would like to call your attention to Paragraph 11 of contract C-153488 which follows: 11. Prior to November 1, 1987, notify in writing every property owner within the Contractor's boundaries of the assessment amount which the property owner is required to pay to the Contractor in calendar year 1987, as provided by Article 5 of Title 37 CRS, to enable the Contractor to meet its repayment obligation to the State. The Contractor shall collect the required amounts in a timely fashion and shall make payments to the State as required by clause All. of this contract and clauses A8. and A12. of contracts C-153363 and C-153399, respectively, between the State and the Contractor. Performance of the notice and collection requirements of this paragraph shall not excuse non-performance of any other requirements of this contract. We are here to assist you in completing and paying for your projects. We have some flexibility in structuring your repayments. If you have problems please contact us. We are willing to explore any avenues which might benefit the S-SDWCD. ! I / ours, /! I G. eith Eberhardt, P.E. Assistant Section Chief Project Planning and Construction Section GKE/bj cc: C-153363 C-153399 C-153488 bj486.1tr