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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />I313 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 />September 27, 2010 <br />Tracy Kester, President <br />Trinchera Irrigation Company <br />P.O. Box 41 <br />Blanca, CO 81123 <br />Re: Smith Reservoir Rehabilitation Project <br />Contract Number C 150303 <br />Dear Mr. Kester: <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br />s�n Riccer, h. <br />Govemor <br />Mike King <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />This letter is to advise you that the Project referenced above was substantially completed as vf <br />September 1, 2010. In accordance with the Loan Contract, the Trinchera Irrigation Company owes $5,791.21 <br />for accrued interest during the construction phase of the Project (see attached Project Expenditure Schedule). <br />This `interest only' payment is due October 15, 2010. Please make your check payable to the Colorado <br />Water Conservation Board and include the Loan Contract number on the check. <br />The final amount borrowed by the Company is $524,552.59. Since the Company will not need any additional <br />money from this loan authorization, the unused funds shall be returned to CWCB's account. T'he Loan <br />Contract will not be amended and the annual payments shall be $29,926.96 as established in the Promissory <br />Note (attached). 'The first annual loan will be due on September 1, 2011. <br />In accordance with the Borrower's Liability Insurance Provision of the Loan Contract - Paragraph A.6, <br />please note that a renewed insurance certificate needs to be submitted to the CWCB annually. <br />It has been a pleasure working with the Trinchera Irrigation Company on the successful completion of this <br />project. Please don't hesitate to call if you have any questions regarding this matter. <br />Sincerely, <br />J <br />Kirk Russell, P.E. <br />Design & Construction Manager <br />c: Travis Smith, CWCB Board Member — Rio Grande Basin <br />Contract Amount = $606,000.00 <br />Expended Amount = $524,552.59 <br />Interstate & Federal • Watershed & Flood Protection • Stream & I.ake ProtecUon • Finance <br />Water Information • Wxter Conservation & Drought Planning • Water Supply Planni�g <br />