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Mr. Glen Porzak <br /> Eagle Park Reservoir Project <br /> February 24, 1997 <br /> 4. The applicants will have in their possession and will maintain ownership of sufficient <br /> water rights to provide a firm yield of no less than 1,500 acre-feet. <br /> 5. The loan will be secured by all shares of stock in the Eagle Park Reservoir Company <br /> with the exception of those shares representing the first 500 acre-feet of firm yield <br /> owned by Vail Associates. <br /> k b' The staff of the Colorado Water Conservation Board will have <br /> the opportunity to <br /> review and comment on the purchase agreement between the Eagle Park Reservoir <br /> - Company and Cyprus Climax Metals Company prior to the time that agreement is <br /> consummated. <br /> Please coordinate with Bill Green and Jan Illian of my staff on completion of the <br /> foregoing list of loan conditions. Jan will draft the loan contract and will work with you <br /> in the contract approval process which may take up to three months. <br /> On behalf of the Board and the staff, I would like to thank you for applying for a loan <br /> from the Colorado Water Conservation Board Construction Fund. <br /> Sincerely, <br /> William P. Stanton,P.E. <br /> Chief,Project Planning and Construction Section <br /> Colorado Water Conservation Board <br /> cc: Chuck Lile <br /> Bill Green <br /> Jan Illian <br /> Linda Bassi, AGO <br /> Dennis Gelvin, Upper Eagle Regional Water Authority <br /> David Hallford, CRWCD <br /> Rick MacCutcheon, Upper Eagle Regional Water Authority <br /> Rick Sackbauer, Eagle River Water& San. Dist. <br /> Paul Testwuide, Vail Assoc. <br /> Jeff Houpt, Eagle County <br />