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11-06-1995 12:36 30.72+4518 BRISCOE ST~ & HARPER PC_ P.02 - . : Page 2, 'Colorado Water Conservation Board .,:,;.;:.', }:;~:~:::~ Reservoir Company. . The whole purpose in revising the interest rate and the p~yment schedule was to enable the Lone Cabin to use its assessments for the loan payments. Currently, we only have to one loan, but the Beaver Reservoir Company is about to incur a large debt with the eweB and the Lone Cabin will have to make 3/16ths of that payment each year. The preferred result would be a deferrment of both the past 1992 unmade payment as well as a future payment so that the Lone Cabin can pay its current expenses and still be legally current on the CWCB loan. At the very least, I would hope that the 1996 payment would be reduced because of the lower interest rate and also by a credit for the over- payments made in 1994 and (will be made in) 1995 when the required amount is determined to be at a lesser amount based on the lower interest rate, etc. Please represent to the Board that we are very amenable to working these matters out, but the bottom line is that we can only afford to make around a $5000-$5500 payment each year. Thankyou for your assistance. I am sorry that this has come down to this dilemma at this time. We could have been in a much better financial condition had the changes been made in 1994, as I am requesting be recognized and ratified now. We have done alot of repairs this year and paid for them with the money that would haVe been used for the 1995 payment.' We can borrow the money to make the payment, but it will all eventually have to be paid. We just ~eed to have amounts adjusted so that the total payments are affordable each year, along with the necessary costs of maintenance and repair. xc: Beaver ReservoirCompan . Briscoe, President abin Ditch and Reservoir Company