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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�474 <br />www.cwcb.state.co.us <br />June 22, 2010 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mr. Tom Cech, Execurive Director <br />Central Colorado Water Conservancy District <br />3209 W. 28�' Street <br />Greeley, CO 80634 <br />Re: Contract Number C 150194, WAS Subdistrict — Water Rights, Storage, and Augmentation <br />Dear Mr. Cech: <br />Bill Ritter Jr. <br />Governor <br />Mike King <br />DNR Executive <br />D'uector <br />Jennifer L. Gimbel <br />CWCB Director <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />June 1, 2010. Your interest payment in the amount of $368,089.40, was received on May 13, 2010. <br />Your fust loan payment in the amount of $713,540.52 is due on June 1, 2011. T`he annual loan payment was calculated <br />based on a$14,934,611.80 final loan balance at 2.50% for 30-years, which includes a 1% loan service fee of $147,867.44. <br />Vaughn McWilliams, our Contract Administrator, will be amending the promissory Note, contained as Appendix 2 of the contract <br />to reflect the final loan contract amount. <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Pazagraph A.14, 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 Conservarion Board to work with the Central Colorado Water Conservancy <br />District on the successfW cornpletion 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 />Tun Feehan,�. <br />Chief, Finan Section <br />cc. Eric Wilkinson, CWCB Board Member <br />Finance Section Files <br />Contract Amount = $20,200,000.00 <br />Expended Amount = $14,934,611.80 <br />Watershed Protection & Flood Mitigation • Finance • Stream and Lake Protection <br />Interstate & Federal • Water Conservation and Drought Planning, • Water Supply and Planning <br />