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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />7. Remy and Ruth Labrouche purchased a ranch in Saguache County in 1992 for $300,000. <br />Water from the Vouga Reservoir is used to irrigate this ranch. The ranch consists of638 <br />acres, plus BLM and Forest Service pennits that are not pooled with other users. This <br />ranch summers 250 head of mother cows, all of which are free and clear of any liens. <br />Income from this ranch will be used to pay the loan from CWCB for the repair and <br />reconstruction of the V ouga Reservoir Dam. Real estate prices have increased since the <br />Labrouches purchased the ranch in 1992. In the spring of 1994, the Labrouches were <br />offered $640,000 for the ranch, which offer they refused. <br /> <br />8. In 1993 and 1994, the gross income for the Saguache County Ranch averaged $112,000 <br />per year. The net income from the ranch averaged $95,500 per year in each of these two <br />years. <br /> <br />9. The Labrouches believe that the net income from the Saguache County Ranch will be <br />sufficient to service the loan obtained from CWCB for the rebuilding of the Dam for the <br />Vouga Reservoir. The Labrouches do not depend on the revenue from the Saguache <br />County Ranch to finance other portions of their operations. <br /> <br />10. Remy Labrouche has life insurance to cover all existing outstanding loans, together with a <br />very substantial retirement plan. <br /> <br />II. Three homes are located on the Lorna property. These homes are valued at $300,000, <br />$125,000 and $100,000. The improvements on the Saguache County Ranch, which <br />include two houses, a shop, a barn and new corrals, are valued at $180,000 to $195,000. <br /> <br /> <br />-/~~ <br />C;;;;I//~ <br /> <br />C,IWPWIN60\MAHILABR-NOT. WPD <br /> <br />1uIy S, 1995 <br />