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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) 866-9474 <br />www.cwcb.state.co.us <br />May 12, 2009 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mr. Dave Force, Secretary <br />Hope Ditch Company <br />2531 165� Avenue <br />Brighton, CO 80602 <br />Re: Contract Number C150218 — Well Rehabilitation <br />Dear Mr. Force: <br />Bill Ritter Jr. <br />Governor <br />Harris D. Sherman <br />DNR Executive <br />D'uector <br />Jennifer L. Gimbell <br />CWCB Director <br />Dan McAuliffe <br />CWCB Deputy <br />D'uector <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />April 1, 2009. <br />In accordance with the Contract, you owe $6,531.83 for interest during construction, as calculated on the attached <br />spreadsheet, due by May 29, 2009. Please make your check for interest during construcrion payable to the Colorado Water <br />Conservation Board and include the Coniract Number on the check. <br />As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $8,667.22 is <br />due on April 1, 2010. A 1% loan service fee of $1,275.43 was added to your principal balance of $127,543.58, for a final loan <br />balance of $128,819.01. An adjustment of $25,710.99 has been subtracted from your approved loan balance of $154,530.00, to <br />adjust for your final principal balance of $128,819.01. To eliminate the need to amend the loan contract, your annual payment is <br />calculated based on your authorized loan amount of $154,530.00. Please see the attached Loan Repayment Schedule and a copy <br />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 Hope Ditch Company 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 />Sincerely, <br />� / <br />'/ lr <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Secrion <br />cc. Eric Wilkinson, CWCB Board Member <br />Water Supply Planning and Finance Secrion <br />Project file <br />Contract file <br />Contract Amount = $154,530.00 <br />Expended Amount = $128,819.01 <br />Flood Protechon • Water Supply Planning and Finance • Stream and Lake�Protection <br />Water Supply ProtecHon • Conservation and Drought Planning <br />