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<br />STATE OF COLORADO <br /> <br />1 <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 />December 5,2007 <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br /> <br />Harris D. Sherman <br />Executive Director <br /> <br />Mr. Dennis J. Hoshiko, President <br />Lower Latham Reservoir Company <br />P.O. Box 398 <br />Kersey, CO 80644 <br /> <br />Dan McAuliffe <br />Acting Director <br /> <br />Re: Contract Number C150253 - Lower Latham Reservoir Water Rights <br /> <br />Dear Mr. Hoshiko: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />December 1, 2007. <br /> <br />In accordance with the Contract, the Lower Latham Reservoir Company owes $3,773.64 for interest during construction, <br />as calculated on the attached spreadsheet, due by December 31,2007. Please make your check for interest during construction <br />payable to the Colorado Water Conservation Board and include the Contract Number on the check. <br /> <br />Your fIrst loan payment in the amount of $92,149.02 is due on December 1, 2008, as referenced in the attached <br />Promissory Note relative to Appendix 2 of the Loan Contract. Your fmalloan balance of $1,994,485.38 is based on the total <br />disbursed amount of $1,974,738.00 plus a 1 % loan service fee of $19,747.38. The original loan contract amount was reduced by <br />$110.62 as noted on the attached amortization schedule. <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 Lower Latham Reservoir 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 service <br />to you in the future. <br /> <br />Sincerely, '7 k <br /> <br />C;~J~;; <br />Ml;:~et, P.E. <br /> <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. <br /> <br />Eric Wilkinson, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project fIle <br />Contract fIle <br /> <br />Contract Amount <br />Expended Amount <br /> <br />= $1,994,596.00 <br />= $1,994,485.38 <br /> <br />Flood Protection. Water Supply Plaruting and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />