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DNR COLORADO <br /> co Colorado Water <br /> ,.' Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> March 11, 2015 <br /> Mr. Tom Breslin, Town Manager <br /> Town of Dillon <br /> 275 Lake Dillon Dr. <br /> Dillon, CO 80435 <br /> Re: Old Dillon Reservoir Enlargement Project <br /> Loan Contract C150295 (CT2015-038) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Tom: <br /> This letter is to advise you that the Project referenced above will be substantially completed on April <br /> 1, 2015. In accordance with the Loan Contract, the Company owes $144,737.37 for interest accrued <br /> during the construction phase of the Project (see attached Project Expenditure Schedule). Please make <br /> your payment to the Colorado Water Conservation Board and reference the Loan Contract Number <br /> above if using a check. <br /> The total amount disbursed under this contract was $1,373,351.50 ($1,359,753.96 plus $13,597.54 for <br /> the 1% service fee). An adjustment of $141,648.50 will be made for the funds no longer needed. The <br /> first annual loan payment will be due on April 1, 2016, in the amount of $87,612.60 as presented in the <br /> attached Promissory Note and Loan Repayment Schedule. <br /> Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan Contract, a <br /> renewed insurance certificate must be submitted to the CWCB annually and a Reserve Account must be <br /> maintained during the entire repayment period. <br /> It has been a pleasure working with your staff on the successful completion of this project. Please <br /> don't hesitate to call if you have any questions regarding this matter. <br /> Sincerely, <br /> 1 <br /> Kirk Russell, P.E., Chief Loan Contract Amount = $1,515,000.00 <br /> Finance Section Expended Amount = $1,373,351.50 <br /> cc: Russ George, CWCB Board Member, Colorado River Basin <br /> Carri McDonnell, Town Finance Director <br /> aw of coto- \ <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us ti4 £� \ <br /> / o on <br /> John W. Hickenlooper,Governor I Mike King, DNR Director I James Eklund,CWCB Director \* r ; ,5 <br /> */876j <br />