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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 /> February 1, 2016 <br /> Mr. Steve Bruntz, President <br /> Orphan Wells of Wiggins <br /> 3506 County Road T <br /> Wiggins, CO 80654 <br /> Re: Orphan Wells of Wiggins — Collateral Change C150159 <br /> Mr. Bruntz: <br /> I am pleased to inform you that on January 26, 2016, the Colorado Water Conservation Board approved <br /> your request to change the current collateral conditions on the loan referenced above. The Board agreed <br /> to change the collateral from five shares of Riverside Reservoir stock and one share of Jackson Lake <br /> Reservoir to the Project components including the pipeline, pumps, and wells constructed with the CWCB <br /> funds. The Pledge of Assessment Revenues backed by an assessment covenant will remain in place. <br /> The amended contract amount will be established as the loan balance at the time of the contract <br /> amendment (approximately $615,220.28) and an annual payment of $36,961.30. <br /> I have attached a copy of the updated Board memo dated January 27, 2016 that includes the <br /> Board's approval. <br /> As you are aware, an amended contract must be in place. Peg Mason, Loan Contracts Manager, will <br /> initiate the loan amendment process. You can contact Peg at (303) 866-3441 x3227 regarding the status of <br /> the amendment. <br /> On behalf of the Board, I would like to thank you for your patience and assistance throughout this <br /> effort. <br /> Sincerely, <br /> Kirk Russell, P.E., Chief <br /> Finance Section <br /> Attachment: Updated Board Memo <br /> E-mail Copy (Including Attachments): Diane Hoppe, CWCB Board Member - South Platte River Basin <br /> ov_ coin <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us <br /> o <br /> John W. Hickenlooper, Governor I Mike King, DNR Director I James Eklund, CWCB Director * <br /> */87° <br />