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January l7, 2��2 <br />Mr. Mike Serlet, P.E. <br />Chief of Planning and Finance <br />Colorado Water Conservation Board <br />1313 Sherman Street <br />Denver, CO 80203 <br />, VRANESH aNO RAISCH, ��P <br />ATfORNEYS AT LAW <br />1720 14th Street. Suita 200 <br />P.O. Box 871 <br />Bouldeq Coloredo 80306-0871 <br />Telephone 30374A3-6151 <br />Telecopier 303/443-9586 <br />Re: Boulder and Left Hand Irrigation Company <br />Twin Lakes Loan and First Lien <br />Dear Mike: <br />Jerry W. Raisch <br />John R. Henderson <br />Michael D. Shimmin <br />Eugane J. Riortlan <br />Paul J. Zilis <br />Asimakis P. latridis <br />Julie S. Erikso� <br />George Vranesh (1926 - 1997) <br />RECEIVE� <br />JAN 18 2001 <br />�WelbrCq�servwa� eoua <br />The Board of Directors of the Boulder and Left Hand Irrigation Company has asked me to write to you <br />concerning a request for a release of CWCB's lien on the Twin Lakes property, and the substitution of a first <br />lien on the Hayden Lake property. <br />Recently, the Company arranged for the sale of its surface rights at Twin Lakes to Boulder County Parks and <br />Open Space, subject to the retention of water storage rights and associated operational easements. The area <br />around Twin Lakes has grown increasingly urbanized, and the County wished to formally include this area <br />among its recreational opportunities available in the area. <br />We have contracted with the County to work for the release of the first lien held by CWCB associated with <br />the loan of certain repair monies from you fund. The Company's Board acted on Tuesday moming to <br />formalize this request, and to offer to execute a new first lien on the Hayden Lake property, which we be(ieve <br />is of at least equal value to Twin Lakes. We are in the process of determining if we have an adequate current <br />legal description for the Hayden Lake property as a step towards formalizing our proposal to you. <br />Please let me know if title work will need to be prepared on the Hayden Lake property, and whether the <br />CWCB will require a property survey. Also, I would like to know your formal requirements for the requested <br />release and substitution of a new first lien. We look forward to working with you to obtain your approval, <br />and to expedite the request. <br />Please call me with any questions you might have. <br />E-mail: irh(ilvrlaw.wm <br />JRH:k <br />cc: Mr. Henry Laber, President <br />Mr. John Brunner. Vice President <br />SiClien[\bouldedMSerlet Itr af 1.17.02.wpd <br />