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<br />STATE OF COLORl\DO
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<br />Colorado Water Conservation Board, II
<br />Department of Natural Resources
<br />1313 Sherman Street ~ L~." L, .
<br />Denver. Colorado 80203 l(l/~, - /q4 . '~ ~ ~
<br />Phone: (303) 866.3441 'f:7'i-R . . . "'"
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<br />The~armers Independent Ditch Company U 1,J./~;2,lqtJrcLUuzd LO PA-d-j-
<br />Attn: Frank Eckhardt, President t./W ~/'zU~b p; AL~~ 17'/
<br />POBox 210 'd~:to. -f,fd-fi
<br />Greeley CO 80632-0210 ixCfYl ,tl{/-::>. :\ O-Vf '
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<br />Dear Mr Eckhardt: ~. f{.uT -{(}ljLJC..d. ..,~
<br />
<br />The Farmers Independent Ditch Company entered into a contract with(dWCB on
<br />November 19, 1997 for a loan in the amount of $55,000. The project was substantially.
<br />complete as of April 29, 1998; however the company used only $37,585.96 of the
<br />available loan funds, Enclosed is an amendment to the loan contract to establish the
<br />correct loan amount.
<br />
<br />SUBJECT: Loan Contract C153795
<br />
<br />The amendment revises all of the contract documents to show that the company borrowed
<br />only $37,585,96 and that the annual loan payments are due on April 29th. My records
<br />indicate that the company is current on its loan payments,
<br />
<br />The contract amendment documents includes a revised promissory note, a revised
<br />assignment of certificate of deposit, an amended security agreement, and a revised
<br />assignment of deposit account as security, all of which are written to reflect the loan
<br />amount of $37,585,96,
<br />
<br />Currently, the security for the loan is a certificate of deposit in the amount of $3,084,82
<br />based on a loan amount of $55,000 and expires on June .12, 2000, Since the company
<br />borrowed only $37,585.96, the amount of the certificate of deposit should be $2,108.11
<br />(the amount of one annual payment). Please let me know when you would like to replace
<br />or reduce the certificate of deposit and I will assist with transmitting the original certificate
<br />of deposit to the bank,
<br />
<br />If you are satisti'ed with all of the documents, please have the company's president
<br />execute, the secretary attest, the corporate seal affixed to all four copies of the contract
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