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DNR COLORADO LOAN SNAPSHOT <br /> CO Colorado Water <br /> Conservation Board First Annual Payment Due: December 1, 2017 <br /> Annual Payment Amount: $70,918.26* <br /> Department of Natural Resources `Requires contract amendment. <br /> 1313 Sherman Street, Room 718 <br /> Denver,CO 80203 <br /> November 21, 2016 <br /> Ms. Jill Baty <br /> Highland Ditch Company <br /> PO Box 649 <br /> Mead, CO 80542 <br /> Re: Emergency Highland Ditch System Repairs <br /> Loan Contract Number CT2015-023 (C150369) <br /> NOTICE - COMMENCEMENT OF LOAN REPAYMENT PERIOD <br /> Dear Ms. Baty: <br /> This letter is to notify you that the Project referenced above is at the end of the 3-year no interest <br /> period. The 27-year repayment period begins on December 1, 2016. No payment is due at this time; the <br /> first annual payment will be due on December 1, 2017. During the repayment period interest wilt <br /> accrue on the loan balance and no further disbursements can be made. <br /> The total amount disbursed under this contract was $1,477,756.28 ($1,463,125.03 plus $14,631.25 for <br /> the 1% service fee). An adjustment of $522,043.72 was made for funds not needed. Peg Mason will <br /> initiate the process of amending the contract and Promissory Note to reflect the final loan balance. <br /> The annual loan payment based on the final loan balance is $70,918.26 (see attached Loan Repayment <br /> Schedule). <br /> If you should receive any FEMA grant funds for the Project, please remember that the loan contract <br /> obligates you to apply those funds to the loan principal balance within 30 days. <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. It has been a pleasure working with you on the <br /> successful completion of this project. Please don't hesitate to call if you have any questions regarding <br /> this matter. <br /> Sincerely, <br /> / l <br /> Loan Contract Amount = $1,999,800.00 <br /> Disbursed Amount = $1,477,756.28 <br /> Kirk Russell, P.E., Chief Principal Prepayments = $0.00 <br /> CWCB Finance Section Final Loan Balance = $1,477,756.28 <br /> ov cok <br /> y <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us =' <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director * * <br />