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STATE OF COLORADO <br />Colorado Water Conservation Board <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 />May 12, 2009 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mr. Mike Gibson, Manager <br />San Luis Valley Water Conservancy District <br />415 San Juan Avenue <br />Alamosa, CO 81101 <br />Re: Contract Number C150269 - Water Rights Purchase <br />Deaz Mr. Gibson: <br />Bill Ritter Jr. <br />Governor <br />Harris D. Sherman <br />Executive Director <br />Jennifer L.. Gimbell <br />CWCB Duector <br />Dan McAuliffe <br />CWCB Deputy <br />Director <br />This letter is to advise you that the work described in the above referenced Contract was substanrially completed as of <br />May 1, 2009. <br />In accordance with the Contract, the San Luis Valley Water Conservancy District owes $8,837.26 for interest during <br />construction, as calculated on the attached spreadsheet, due by May 29, 2009. Please make your check for interest during <br />construction payable to the Colorado Water Conservation Boa~d and include the Contract Number on the check. <br />Your fust loan payment in the amount of 39,538.83 is due on May 1, 2010. The $39,538.83 annual loan payment was <br />calculated based on a$727,200.00 final loan balance at 3.5% for 30-years, which includes a 1% loan service fee of $7,200.00. <br />The 1% loan service fee was calculated from your final cumularive loan balance of $720,000.00. Please see the attached Loan <br />Repayment Schedule and a copy of the Promissory Note. <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 />It has been a pleasure of the Colorado Water Conservation Board to work with the San Luis Valley Water Conservancy <br />District on the successful complerion of this project. Please call if you have any questions regarding this matter or if we can be of <br />service to you in the future. <br />Sincerely, <br />.P ~ <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br />cc. Travis Smith, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br />Contract Amount = $727,200.00 <br />Expended Amount = $727,200.00 <br />Flood Protection • Water Supply Plaruling and Finance • Stream and Lake Protection <br />Water Supply ProtecHon • Conservadon and Drought Planning <br />