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<br />Arkansas Groundwater Users Association <br />Attn: Clifford G. Walter <br />February 19, 1998 <br />Page 2 <br /> <br />executed by the vice-president, attested by the corporate secretary, the corporate <br />seal affixed, and the date of executed filled in. <br /> <br />- Appendix 6 - Stock Assignment. This document will be executed when AGUA <br />purchases the 1007 shares of Excelsior Irrigating Company. It must be executed by <br />the vice-president, attested by the corporate secretary, the corporate seal affixed, <br />and the date of executed filled in. <br /> <br />- Appendix 7 - Security Agreement - Pledge of Revenues. This document must be <br />executed by the vice-president, attested by the corporate secretary, the corporate <br />seal affixed, and the date of executed filled in. <br /> <br />- Appendix 8 - Assignment of Deposit Account as Security. This document must be <br />executed by the vice-president, attested by the corporate secretary, the corporate <br />seal affixed, and the date of executed filled in. Also, this document must be <br />acknowledged by an officer of the bank (president or vice-president) and the <br />attested by the corporate secretary. Insist on this being signed by officers of the <br />bank. <br /> <br />Opinion Letter. AGUA's attorney must submit an opinion letter in accordance with <br />paragraph A.4 on page 3 of the loan contract. This must be provided when you <br />return the signed contract. <br /> <br />Insurance. AGUA must provide proof of insurance (a certificate of insurance and an <br />additional insured endorsement) in accordance with paragraph A.2 on page 2 of the <br />contract. No loan funds can be disbursed until this condition is satisfied. <br /> <br />Once all of the contract documents are returned, it will take approximately two weeks to <br />get the final approval and signatures from the State Controller's Office. Please call me <br />if you have any questions or concerns regarding these contract documents. <br /> <br />Sincerely, <br /> <br />/ ----l?' {. <br />" I::. <br />/ 1-< ( <br />\'----------.-- <br />Janis lilian, Contract Administrator <br />Construction Fund Section <br /> <br />cc: Foncannon, Esq. (w/copy) <br />Stanton (wlo copy) <br />Bassi, AGO (w/copy) <br />Gf8en(wlo,oopy)' \ <br />