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STATE (�F C(�LC�RAD4 <br />Co�orado Water Conservation Board <br />Department of IVaturai Resources <br />1313 She�man 5treeE, Itcrom 721 <br />Denver, C;olnrado 80203 <br />l'hone: (.s03) $6b-344 t <br />(=vc: (303) 86G-4�474 <br />1YW W.CWGCl.Si3t0. CO.US <br />September 21, 201 1 <br />Mr. Steve Bruniz, President <br />Urphan Wells af Wiggins, LLC <br />35Q6 County Road T <br />Wiggins, CO 80654-95Q8 <br />Rc: Urphan Wells of �Viggins --- I�oan Contract No. C 15� 159 <br />I)ear Mr. Bruntr: <br />lobn W. Nickenlc�er <br />Cio��ernor <br />Mike Kin� <br />DNR i;xecutive bireecor <br />Jennifer [:. Gimbei <br />cwc� ��r��t�,� <br />Your attendance at the July 20l l Coloradc� iNater Canservation Board {CWCBj Iioard Meeting in <br />Walden, Colorada was rnost appreeiated. I know it was a long dxive, but your presence was <br />important. <br />At that rneeting ihe [3oard discussed various issues a.ssc�ciated with the above referenced loan <br />can�ract. The three main topics discussed wcre: interest forgiveness, change in collateral, and the <br />amen.dment ofthe loan c�ntract and promissory note. At the meeting the F3oard unanimc�usly <br />approved the followin�;: <br />•()rphan Wells of Wiggin.s (C'ompany) will provide CWC;:f3 cvitl� a minim.um principal. <br />payment of $2l 3,000. The �213,000 represents proc�ds the t:ompany received from the <br />sale af �ve shares �f Riverside Private Reservoir Rights. Tlie Campany can elect to send a <br />Iarger payment. <br />• The Company� ��vill pledge its remaining five shares of Riverside Private Reservoir Rights <br />and o��e share af Jackson Lake Private Reserv«ir Rights as additional security on i.ts loan <br />with C;WCH. <br />• i'he Compan}r �vill provide a cnpv of all exeeuted easements associated u�th tl�e Gompany's <br />augrn�ntation project, purchased wifih. CWCI3 loan func�s. <br />• C'WCB urill, for�ive $SG,872.44 in interest accrueci durin�; canstrzacticrn ar�d will roll the <br />remainin� construction interest of $95,205.56 intc> the ic�an, resulting in a fna[ laan lsatance <br />vf $1,�8,077.Ot}, which inctudes a 1% loan ser�rice fee. <br />•'I7ae Can��any owes the rernaining construction inierest �f $533.72, wl�ich is now due and <br />�ayal�le to CWCB. Upon receipt �f tiie principa� payment fr�m the C'om�any, CWCB ca��. <br />deduct the; $533.72 due dnd apply the r�rnainirz� �ralance to principai redu�:tion. <br />Cntcrstate Xc F'ederal • Watcrshed R� Flooti Prt�tecti0n - Strram & LAkr Proteci�on • Fin�nce <br />Wnter 1nf<�rmation • Water Canservation Xc ()rar�ght Pianning • VF`afer Supply i'lanntng <br />