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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 50203 <br />Phane: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www.cwcbstate.co.us <br />December 19, 2002 <br />Mr. R.E. Philips, Secretary <br />Cedaz Mesa Ditch and Reservoir Company <br />1381 Drive 2420 <br />Cederidge, CO 81413 <br />Re: Cedaz Mesa Dam Rehabilitation Project - Loan Amendment Approval <br />Deaz Mr. Philips, <br />BID Oweas <br />Govemor <br />GregE. Walcher <br />Exewtive Ditector <br />Rod Kuharich <br />CWCB DixeMOr <br />Dan McAuliffe <br />Depury D'uector <br />I am pleased to inform you that the Colorado Water Conservation Board approved your loan <br />request on November 26, 2002. The loan is for the rehabilitation of the Cedaz Mesa Dam. <br />The Board approved an increase of $50,000 from the 2002 Construction Fund for the Cedar <br />Mesa Dam Project for a new total amended loan amount of $150,000. The loan terms aze 2.75% for 30 <br />years. I have attached a copy of the updated Boazd memo concerning the Cedar Mesa Ditch and <br />Reservoir Company's loan request . Please refer to page 4 of that memo and to the Section "Action <br />taken by the CWCB November 26, 2002". <br />The Board's approval was based on the Cedaz Mesa Ditch and Reservoir Company meeting the <br />following conditions: <br />1. The Cedar Mesa Ditch and Reservoir Comnany shall adopt a resolution or resolutions <br />�roving the loan. <br />2. The Colorado Water Conservation Board loan shall have naritv status. The Colorado Water <br />Conservation Boazd loan shall have parity status with any existing debt or Company with <br />respect to a pledge of revenues. <br />3. Anv collateral pledged for the loan shall be free of all liens and encurrtbrances. <br />4. The Cedar Mesa Ditch and Reservoir Companv shail increase their annual assessments from <br />$25 ner share to $40 per shaze starting in 2003. <br />Flood Protection • Warer Supp(y Planoiag and Fi¢aace • Stteam a¢d Lake Protecrion <br />Water Supply Procecriou • Conservation and Drought Planning <br />