C150159 Contract

• Contract/PO #: C150159
• Contract/PO #: CT2017-1209
• Contractor Name: Orphan Wells of Wiggins, LLC
• Contract Type: Loan
• Water District: 1
• County: Morgan
• Loan Projects - Doc Type: Contract Documents

RESOLUTIONS OF THE MEMBERS
OF THE ORPHAN WELLS OF WIGGINS, L.L.C.
The Members of the Orphan Wells of Wiggins, L.L.C. (Company), at a meeting held
2004, at 0 Q .I-IA R N , Colorado, adopted the following resolutions
concernino secured loan from the State of Colorado Water Conservation Board (CWCB), for the
purpose of construction of a well augmentation and groundwater recharge project in the amount of
$1,048,077 or such actual amount, more or less, as may be needed by the Company and available
from the CWCB including the CWCB loan origination fee of 1 % of the loan amount.
At said meeting, the Members charged that these resolutions are irrepealable during the term of
the loan and, pursuant to the Company's bylaws, authorized the Board of Directors and officers,
RESOLVED as follows:
1. to enter into and comply with the terms of a contract with the Colorado Water Conservation
Board for a loan in the amount of $1,048,077, or such actual amount, more or less, as needed
to finance the project costs, including the CWCB loan origination fee of 1 %, and
2. to levy and collect assessments from the members in an amount sufficient to pay the annual
amounts due under the Loan Contract, and to pledge assessment revenues and the Company's
right to receive said revenues for repayment of the loan, and
3. to place said pledged revenues in a special account separate and apart from other COMPANY
revenues, and
4. to make the annual payments required by the promissory note and to make annual deposits to
a debt service reserve fund, and
9. to pledge the recharge project, consisting of the property containing the recharge well, pipeline ,
and recharge four ponds, as collateral for the loan and execute all documents, including a deed
of trust, necessary to convey a security interest in said property to the CWCB,
5. to execute all documents as required by the loan contract, including, but not limited to, a
Security Agreement and a Promissory Note, and
6. to take such other actions and to execute such other documents as may be necessary to
consummate and implement the loan.
CERTIFICATION
THE UNDERSIGNED, RESPECTIVELY, THE PRESIDENT AND SECRETARY OF THE COMPANY, HEREBY
CERTIFY THAT THE FOREGOING ARE TRUE AND CORRECT COPIES OF RESOLUTIONS DULY ADOPTED AT A
MEETING OF THE COMPANY'S MEMBER'S DULY CALLED AND HELD AS ABOVE RECITED, PURSUANT TO
THE COMPANY'S BYLAWS, AND THAT SAID RESOLUTIONS HAVE NOT BEEN AMENDED OR RESCINDED.
GIVEN UNDER OUR HANDS AND THE SEAL OF THE COMPANY THE 13 DAY OF FA- b 2004.
By. J
Steve runtz, Pre ent
ATTEST::
Chris Metherd, Secretary
Appendix 3a to Loan Contract C150159