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COLORADO <br /> LOAN SNAPSHOT <br /> CO Colorado Water First Annual Payment Due: December 1, 2017 <br /> Conservation Board <br /> Department of Natural Resources Annual Payment Amount: $12,994.11* <br /> *Requires contract amendment. <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> November 29, 2016 <br /> Mr. Dan Grant, Secretary/Treasurer <br /> Rough Et Ready Irrigating Ditch Company <br /> PO Box 1826 <br /> Longmont, CO 80502 <br /> Re: Emergency Rough ft Ready Ditch River Diversion Structure Repair <br /> Loan Contract Number CT2015-031 (C150371) <br /> NOTICE - COMMENCEMENT OF LOAN REPAYMENT PERIOD <br /> Dear Mr. Grant: <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 will <br /> accrue on the loan balance and no further disbursements can be made. <br /> The total amount disbursed under this contract was $1,210,116.19 ($1,198,134.84 plus $11,981.35 for <br /> the 1% service fee). An adjustment of $633,133.81 was made for funds not needed. You have applied <br /> $963,265.37 in principal prepayments, bringing your final loan balance to $246,850.82. 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 $12,994.11 (see attached Loan Repayment <br /> Schedule). <br /> If you should receive additional FEMA grant funds for the Project, please remember that the loan <br /> contract 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 /> Loan Contract Amount = $1,843,250.00 <br /> Disbursed Amount = $1,210,116.19 <br /> Kirk Russell, P.E., Chief Principal Prepayments = $963,265.37 <br /> CWCB Finance Section Final Loan Balance = $246,850.82 <br /> of c9t,�, <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us NP ' 9' <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director <br />