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<br />''.'" ,- <br /><!&berlanb .1llitcb anb l\eserboi~ 'QCompanp <br />1321 2900 Road Hotchkiss, CO 81419 <br />Phone I Fax (970) 872 - 3586 <br /> <br />May 10, 1996 <br /> <br />RECEIVED <br />MAY 1 6 1996 <br /> <br />Colorado Water <br />ConsQrvation Board <br /> <br />William P. Stanton, P.E, <br />Chief, Planning and Construction Section <br />Colorado Conservation Board <br />1313 Sherman Street, Room 821 <br />Denver, CO 80203 <br /> <br />Mr. Stanton: <br /> <br />In 1988 the Overland Ditch and Reservoir Company contacted Nick loannides <br />of the C.w.C.B about the possibility of C.w.C.B. loaning money to the Overland to <br />purchase its B.O.R loan. As you know this did indeed happen. The Overland already <br />had another loan with C.W.C.B., and Nick suggested that the annual payments of the <br />two loans be staggered so to relieve some of the burden to the Overland stockholders. <br />The Company was receptive to that idea. It was decided the the new loan, contract C- <br />153527, have a June payment date, and the older loan, contract C-153307, have a <br />December payment date. These are the dates that the Overland has used since <br />repayment started. We would like to continue using these dates, If there is a problem <br />with continuing with the June I December repayment schedule please let us know, <br /> <br />Sincerely, <br /> <br />(It:.:4-- <br />Peter Kasper, President <br /> <br />ATTACHMENT 2 <br /> <br />\ <br />, <br />-- <br />