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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources ; ,.oF cozo <br /> 1313 Sherman Street,Room 721 <br /> F Vi <br /> Denver,Colorado 80203 "/-7 <br /> Phone:(303)866-3441 J * <br /> Fax:(303)866-4474 4376 4376 <br /> www.cwcb.state.co.us ' ' y� <br /> June 5, 2014 <br /> John W.1-Iickenlooper <br /> Governor <br /> Mr. Dennis Hoshiko <br /> Lower Latham Reservoir Company Mike King <br /> p Y DNR Executive Director <br /> PO Box 398 <br /> Kersey, CO 80644 James Eklund <br /> CWCB Director <br /> Re: Well Augmentation Project <br /> Contract Number C 1503 04 <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Mr. Hoshiko: <br /> This letter is to advise you that the Project referenced above was substantially completed on June 1,2014. <br /> After taking into account interest prepayments,the Company owes$48,868.41 for interest accrued during the <br /> construction phase of the Project(see attached Project Expenditure Schedule). Please make this"interest <br /> only payment"check payable to the Colorado Water Conservation Board and include the Loan Contract <br /> Number on the check. <br /> The total amount disbursed under this contract was$2,417,359.17($2,393,424.92 plus$23,934.25 for the 1% <br /> service fee).An adjustment of$1,356,475.83 will be made to the contract for the funds no longer needed.Peg <br /> Mason,Contracts Manager,will initiate the process of amending the contract and Promissory Note.The first <br /> annual loan payment of$119,379.88 will be due on June 1,2015 (see attached Amortization Schedule). <br /> Please note,in accordance with the Borrower's Liability Insurance Provision of the Loan Contract,a renewed <br /> insurance certificate must be submitted to the CWCB annually and a Reserve Account must be maintained <br /> during the entire repayment period. <br /> It has been a pleasure working with you on the successful completion of this project.Please don't hesitate to <br /> call if you have any questions regarding this matter. <br /> Sincerely, <br /> Kirk Russell,P.E., Section Chief Loan Contract: $3,811,573.00 <br /> CWCB Finance Section Expended: $2,417,359.17 <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 />