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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />August 25, 2005 <br /> <br />Bill Owens <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT SCHEDULE <br /> <br />Russell George <br />Executive Director <br /> <br />Mr. Steve Rippy, Manager <br />To'WIl of New Castle <br />P.o. Box 90 <br />New Castle, CO 81647 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Rick Brown <br />Acting Deputy <br />Director <br /> <br />Re: Contract Nwnber C150152 - Raw Water Line <br /> <br />Dear Mr. Rippy: <br /> <br />This letter is to advise you that the work descnbed in the above referenced Contract was substantially completed as of <br />August 1,2005. <br /> <br />In accordance with the Contract, the To'WIl of New Castle owes $21,747.95 for interest during construction, as calculated <br />on the attached spreadsheet, due by September 15,2005. Make your check payable to the Colorado Water Conservation Board <br />and include the loan contract nwnber on the check. <br /> <br />As outlined in the Promissory Note, Appendix 2 of Contract, your first loan payment in the amount of 43,403.82 is due <br />on August 1, 2006. Please see the attached Loan Repayment Schedule and a copy of the Promissory Note. A 1 % loan origination <br />fee of $7,000.00 has been added to your principal balance for a final loan balance of$707,000.00 <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the <br />renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually. <br /> <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Town of New Castle on the <br />successful completion of this project. Please call if you have any questions regarding this matter or if we can be of service to you <br />in the future. <br /> <br />Sin~erelY' <br />'~7J~ <br /> <br />M e Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. <br /> <br />John Redifer, CWCB Board Member <br />DNR Accounting <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br />Accounts Receivable <br /> <br />Contract Cl50l52 <br />Expended Amount <br /> <br />= $707,000.00 <br />= $707,000.00 <br /> <br />Flood Protection · Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Plarming <br />