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DNR COLORADO <br /> CO #j Colorado Water <br /> Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> July 8, 2016 <br /> Ms. Rosanna Harris, Secretary <br /> Lake Canal Reservoir Company <br /> 730 Ash Mesa Road <br /> Delta, CO 81416 <br /> Re: North Gray Reservoir Rehabilitation <br /> Loan Contract Number CT15-042 (C150322) <br /> NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br /> Dear Ms. Harris: <br /> This letter is to advise you that the Project referenced above was substantially completed on July 1, <br /> 2016. In accordance with the Loan Contract, the Company owed $2,136.24 for interest accrued during <br /> the construction phase of the Project (see attached Project Expenditure Schedule). We received this <br /> payment on June 27, 2016. <br /> The total amount disbursed under this contract was $204,298.00 ($202,275.00 plus $2,023.00 for the 1% <br /> service fee). The first annual loan payment will be due on July 1, 2017, in the amount of $9,247.79 as <br /> presented in the 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 you on the successful completion of this project. Please don't <br /> hesitate to call if you have any questions regarding this matter. <br /> Sincerely, <br /> Kirk Russell, P.E., Chief Loan Contract Amount = $204,298.00 <br /> CWCB Finance Section Expended Amount = $204,298.00 <br /> ec: Jim Yahn, CWCB Board Member, South Platte River Basin <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us s c <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director * <br /> * - * <br />