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<br />STATE C-... COLOR!\DO <br /> <br />0':, <br />,,- I' <br />, <br /> <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />1 31 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (3031 866-3441 PJ809UO!l~ <br />fAX: 13031 866-4474 J8llIM~ <br /> <br />666l Z l NVr <br />a3^130311 <br /> <br />Roy Romer <br />Governor <br /> <br />January 7, 1999 <br /> <br />!ilmes S_ lochhei\d <br />Exccuf:ve Director, DNR <br />CariesC. Lile,P.E. <br />Oirecto~, ONeB <br />PeterH. EVims <br />AGing Direttor, CWeB <br /> <br />. Weldon Valley Ditch Company <br />Attn: Gerald Baugh, President <br />P. O. Box 626 <br />. Weldona, CO 80653 <br /> <br />Subject: Loan Contract C 153792 <br /> <br />Dear Gerald: <br /> <br />As we discussed today, the Company's loan contract with CWCB was in the amount of <br />$188,000. However, the Company borrowed only $181,888.64, leaving a balance of $6,111.36 <br />in loan funds unspent. The project was completed on February 20, 1998, and all project costs <br />have been paid. <br /> <br />With the Company's approval, the remaining $6,111.36 will be applied to the original loan <br />amount of $188,000 as a prepayment, in accordance with Paragraph 4 of the Promissory Note <br />dated October 6, 1997, resulting in a loan balance of $181,888.64. The annual payment is <br />$13,227.88 and the first payment is due on February 20,1999. Based on this loan balance and <br />annual payment amount, the loan will be repaid almost one year earlier with only $1,067.59 due <br />the 20111 payment (amortization schedule attached). <br /> <br />If this is satisfactory for the Company, please sign where provided below and return this letter. <br /> <br />Thank you for your attention to this matter. Please let me know if you have any questions. <br /> <br />? Inc ely, <br /> <br />L~j. j-"L. <br /> <br />Janis Ilian, Contract Administrator <br />Co. ruction Fund Section <br /> <br />cc: Stanton <br />Goodnough, DNR Accounting <br />Shoef, DNR Accounting <br /> <br />On this II It day of January 1999, the Weldon Valley Ditch Company agrees to apply the <br />remaining loan funds of $6,111.36 to the loan made under Contract C153792 as a prepayment <br />resulting in a loan balance of $181,888.64. <br /> <br />By <br /> <br /> <br />.' <br /> <br />Weldon Valley Ditch Company <br /> <br />By 4--4z/4IJn'b~ <br />~ President <br />