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<br />ST ATE OF COLORADO <br /> <br />\ <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 />Bill Ritter Jr. <br />Governor <br /> <br />Harris Sherman <br />Executive Director <br /> <br />October 9,2007 <br /> <br />Dan McAuliffe <br />Acting CWCB <br />Director <br /> <br />Mr. Barry Anderson, President <br />Larimer & Weld Irrigation Company <br />P.O. Box 206 <br />Eaton, CO 80615 <br /> <br />Re: Larimer & Weld Irrigation Company - Loan Amendment Approval <br /> <br />Dear Mr. Anderson: <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board approved your loan <br />request on September 19, 2007. The Board approved an increase of$105,492 ($104,448 for project <br />costs and $1,044 for the 1 % loan origination fee, in accordance with CWCB Policy No. 16) from the <br />2007 Severance Tax Fund, for a new total amended loan amount of $1 ,620,492. The loan will be at an <br />interest rate of2.5% for 30-years. I have attached a copy of the updated Board memo concerning the <br />Larimer & Weld Irrigation Company's request. Please refer to page 4 of that memo and to the Section <br />"Action taken by the CWCB on September 19, 2007". <br /> <br />The Board's approval was based on the Company meeting the following conditions. <br /> <br />1. An approved contract must be in-place before loan funds can be advanced. Vaughn <br />McWilliams, with our office will be in contact with you to initiate this process. If you should <br />have any questions, Vaughn's phone number is 303-866-3462. <br /> <br />2. You must adhere to CWCB's Standard Contracting Provisions. <br /> <br />3. The authorization will not commit the Colorado Water Conservation Board to provide any <br />further additional funding for the Larimer & Weld Irrigation Company System Rehabilitation <br />Proj ect. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />