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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 />November 19, 2009 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mrs. Pearl Knight, Secretary <br />Silt Water Conservancy District <br />P.O. Box S <br />Silt, CO 81652 <br />Re: Contract Number C150149 — System Rehabilitation Project <br />Dear Mrs. Knight: <br />Bill Ritter Jr. <br />Governor <br />James Martin <br />DNR Executive <br />Director <br />Jennifer L. Gimbel <br />CWCB D'uector <br />Dan McAuliffe <br />CWCB Deputy <br />D'uector <br />This letter is to advise you that the work descnbed in the above referenced Contract was substanrially completed as of <br />October 1, 2009. <br />In accordance with the Contract, the Silt Water Conservancy District owes $15,020.10 for interest during construction, <br />as calculated on the attached spreadsheet. Please make your check for interest during construcrion payable to the Colorado <br />Water Conservation Board and include the Contract Number on the check. <br />Your first loan payment in the amount of $51,331.57 is due on October 1, 2010. The annual loan payment was <br />calculated based on a$1,074,384.85 final loan balance at 2.50% for 30-years, which includes a 1% loan service fee of $10,637.47. <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, 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 Conservarion Board to work with the Silt Water Conservancy District on <br />the successful completion of this project. Please call if you have any quesrions regarding this matter or if we can be of service to <br />you in the future. <br />Sin,cerely, <br />Tim Feehan, P. <br />Project M ger, Water Supply Planning and Finance Secrion <br />copy: John Redifer, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br />Contract Amount = $1,515,000.00 <br />Expended Amount = $1,074,384.85 <br />Flood Protection • Water Supply P1uu�ulg and Finance • Stream and Lake Protection <br />Water Supply ProtecHon • Conservation and Drought Plannutg <br />