CT2015-010 Substantial Completion Letter

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DNR COLORADO CO Colorado Water • Conservation Board LOAN SNAPSHOT Department of Natural Resources First Annual Payment Due: January 1, 2018 Annual Payment Amount: $83,772.39* 1313 Sherman Street, Room 718 `Requires contract amendment. Denver, CO 80203 December 30, 2016 Ms. Minerva Lee, President Consolidated Home Supply Ditch and Reservoir Company P.O. Box 1548 Berthoud, CO 80513 Re: Emergency Big Dam Diversion Structure Repair Loan Contract Number CT2015-010 (C150375) NOTICE - COMMENCEMENT OF LOAN REPAYMENT PERIOD Dear Ms. Lee: This letter is to notify you that the Project referenced above is at the end of the 3-year no interest period. The 27-year repayment period begins on January 1, 2017. No payment is due at this time; the first annual payment will be due on January 1, 2018. During the repayment period, interest will accrue on the loan balance and no further disbursements can be made. The total amount disbursed under this contract was $1,858,400 ($1,840,000 plus $18,400 for the 1% service fee). You have applied $112,796.32 in principal prepayments, bringing your final loan balance to $1,745,603.68. Peg Mason will initiate the process of amending the contract and Promissory Note to reflect the final loan balance. The annual loan payment based on the final loan balance is $83,772.39 (see attached Loan Repayment Schedule). If you should receive any FEMA grant funds for the Project, please remember that the loan contract obligates you to apply those funds to the loan principal balance. Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan Contract, a renewed insurance certificate must be submitted to the CWCB annually and a Reserve Account must be maintained during the entire repayment period. It has been a pleasure working with you on the successful completion of this project. Please don't hesitate to call if you have any questions regarding this matter. Sincerely, Loan Contract Amount = $1,858,400.00 Disbursed Amount = $1,858,400.00 Kirk Russell, P.E., Chief Principal Prepayments = $112,796.32 CWCB Finance Section Final Loan Balance = $1,745,603.68 o o� . P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director * * /876..