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STATE OF COLORADO <br /> Colorado Water Conservation Board SON <br /> Q1�R- CO F4 <br /> Department of Natural Resources <br /> A o�G9T <br /> "� o <br /> 1313 Sherman Street,Room 721 ,�, _, <br /> Denver,Colorado 80203 Cd <br /> Phone:(303)866-3441 <br /> Fax:(303)8664474 !1876 t •° <br /> www.cwcb.state.co.us • <br /> John W. <br /> December 6, 2013 Go ernoHickenlooper r <br /> Mike x <br /> Left Hand Ditch Company Executive}� E <br /> DNR Executive Director <br /> Attn: Terry Plummer, VP of Maintenance & Operations <br /> James Eklund <br /> P.O. Box 299 <br /> CWCB Director <br /> Niwot, CO 80544 <br /> Re: Emergency Left Hand Ditch System Repairs <br /> Contract Number C 1503 70 <br /> NOTICE OF REPAYMENT TERMS <br /> Dear Mr. Plummer: <br /> This letter is to inform you that the CWCB has established a Payment Initiation Date of <br /> December 1, 2013. In accordance with the Loan Contract,the Company will not accrue interest <br /> on any loan balance for three years. On December 1, 2016, CWCB will apply the 1% service fee <br /> and the principal amount borrowed will begin accruing at the approved interest rate. <br /> On December 1, 2017, the Company will begin annual repayment of the Loan's principal and <br /> interest as shown on the attached amortization schedule unless modified by a contract <br /> amendment. <br /> Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan <br /> Contract, a renewed insurance certificate must be submitted to the CWCB annually and a <br /> Reserve Account must be funded and maintained during the 27 years of repayment. <br /> Please don't hesitate to call if you have any questions regarding this matter. <br /> Sincerely, <br /> (2.&: <br /> Kirk Russell, P.E. Chief <br /> Finance Section <br /> ec: Diane Hoppe, CWCB Board Member, South Platte River Basin <br /> CWCB Finance Staff <br /> Interstate Compact Compliance•Watershed Protection•Flood Planning&Mitigation•Stream&Lake Protection <br /> Water Project Loans&Grants•Water Modeling•Conservation&Drought Planning•Water Supply Planning <br />