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<br />,. <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) B66-34-11 <br />FAX: (303)B66-t474 <br />wwW.CWCb.Mate.co.us <br /> <br /> <br />September 20, 2004 <br /> <br />Bill Owem <br />Governor <br /> <br />XOllCE OF PROJECT SUBSTA~llAL CO~PLETIO:'\ A~TI REPA'r.vfE\,'T SCHEDULE <br /> <br />Greg E. Walcher <br />EJo:ecullveDirector <br /> <br />Mr. Marley Duclo, President <br />Willow Heights Irrigation Company <br />P.O. Box82! <br />Hotchkiss. CO 81419 <br /> <br />Rod Ku.'-larich <br />C'\VCB Dtrector <br /> <br />Dan McAuliife <br />DeputyOlroclor <br /> <br />Re: Contract Xwnber CI50143 - Willow Heights Subdivision Dual Water Sys!em <br /> <br />Dear Mr. Duclo: <br /> <br />TIlls letter is to advlse you that the work described in the above referenced Contract....-as substantially completed as of <br />August 1,2004. <br /> <br />In accordance v.;th the Contract, the Willow Heights Irrigation Company owes $859.27 fOf interest during construction, <br />as calculated on the attached spreadsheet, due on October 4, 2004. :\:{ake your check for interest during construction payable to <br />the Colorado Water Conservation Board and include the Contract :'\umber on the check. <br /> <br />As outlined in the Promissory !'\ote, Appendix 2 of the Contract, your first loan payment in the amount of55.863.12 is <br />due on August 1.2005. A prepayment of 58,084.51 has been applied [0 your principal balance to account for the actual funds <br />expended 10 construct your project. A 1% loan origination fee of 5954.96 has been added to your principal balance for a final <br />loan balance of 596,450.49. The origination fee ....as based on your cumulative loan balance of595,495.53. Please see your <br />attached Loan Repayment Schedule and a copy of the Promissory 7':ole. <br /> <br />In accordance \\:ith the Borrower's Liability Insurance Provision of the Contract, Par3graph A.6, please note that the <br />renewed insurance certificates need to be provided 10 the Colorado Water Conservation Board annually. <br /> <br />It has been a pleasure oCthe Colorado Water Conservation Board to work \\ith the Willow Heights Irrigation Company <br />on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be of senice <br />to you in Ihe future. <br /> <br />co, <br /> <br />John Redifer, C\VCB Board \1ember <br />D:\"R Accounting <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br />Accounts Receivable <br /> <br />C;;~~/r <br /> <br />\1ike Serlet, P.E. <br />Chief. Water Supply Planning and Finance Section <br /> <br />Contract Amount :0 5104.535.00 <br />Expended Amoun! = 596.450.49 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Surp]~' Protection. Conservation and Drought Planrung <br />