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� <br />u <br />STATE �F CC�L4RAD0 <br />Coiarado Water Conservation Board <br />Department of Natural Resources <br />1313 Sheiman StrccE, R<wm 721 <br />D�nver, Colorado 80203 <br />Phone: (303) $66-.3441 <br />1-'nx: (303) 866�574 <br />www.cwcb.titate.co.us <br />Septemt�er 21, 2Q11 <br />Mr. Steve Bru.ntz, President <br />Urphan Wel�s of Wiggins, LLC' <br />35Q6 County Road 7' <br />Wiggins, CO 80654-9508 <br />Re: Orphan Wells of Wig�ins --- I.oan Contraet No. C I5� 159 <br />Dear Mr. Bru.n.t�: <br />John W. ilickenlooper <br />C;ovemor <br />Mike King <br />DNR Fsxeculive C)irector <br />Jennifer [... Gimbei <br />t:WC6 Uirector <br />Your attendatace at the July 201.1 Coloradc� 'Water Conse.rvation Board (CWCB) I�oard Meeting in <br />Walden, Colorado was most appreciated. I know it was a long dxive, but yvur pcesence was <br />important. <br />At that meeting the 13aard discussed various issues a.ssaciated with the above referenced loan <br />contrac:t. The three main topi.es discussed were: interest for�iveness, change in collateral, and the <br />amendrnent of the loan contract and promissory note. At ihe meeting the F3oard unanimously <br />appr.oved the fotlowing: <br />• Orphan Wells of Wiggins (Company) will provide CWC�i witli a mini.muni principal <br />payment of $21.3,OU0. The $213,000 represents proceeds the C:ompany recei.vcd from the <br />sate of five shares oi'Riverside Private Reser�joir Rights. The Company can elect to send a <br />larger payment. <br />• The Company will pledge its remainin� five shares of Riverside Private Reservoir Rights <br />and one share vf Jacksan Lake Private Resen�vir R.i.�;hts as additional security �n its laan <br />with C;W�;�3. <br />• I'h� Campany will pr�vide a capy of all executed easeznents associated with tlie Coinpany's <br />augmentation project, purchased with CWCI3 loan fun�is. <br />• CWCE3 will: forgive $5C�,872.44 in interest accrueci durin.�; constructicrn and wil.l. ro1I the <br />rexnai.nin� co�structi.on interest of $I5,2US.SEi intc> th.e Ioan, resultin.�; i.n a final l.aan balance <br />of $1,048,077.0(}, which includes a 1°lo loan service fec. <br />• 1`he Catnpany owes the rernaining consiruction inierest af $533.72, wlaich is now due and <br />payable to �'VijCB. Upon receipt af the princtpal payment frc�m the Catn�any, C;WCB can. <br />deduct the $533.72 due and apply th:� remaining 6atance ta principal reduc:tic�n. <br />interstace & Fc�ie.rat •«'aterKhed & I�locid Prntecfton • Strcam & Lakr Protection • Nina+ncc <br />VVater Infnrntation • Watcr Cunservation & brought Ptunnin�, • VVafcr 5upply F'lanntng <br />