C150191 Contract

• Contract/PO #: C150191
• Contractor Name: Buffalo Farms Water Development, LLC
• Contract Type: Loan
• Water District: 64
• County: Logan
• Loan Projects - Doc Type: Contract Documents

RESOLUTIONS OF THE MANAGERS
OF BUFFALO FARMS WATER DEVELOPMENT, LLC

The Managers of the Buffalo Farms Water Development, LLC (Company), a
meeting held J(!...V\ t.3 , 20~ at ~, Colorado, adopted the following
resolutions concerning an amendment to a secured loan from the State of Colorado
Water Conservation Board (CWCB), for the purpose of enhancing and expanding an
existing recharge project for well augmentation in the additional amount of $81,810 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 Managers charged that these resolutions are irrepealable
during the term of the loan and, pursuant to the Company's operating agreement,
authorized the Managers, RESOLVED as follows:
1. to enter into and comply with the terms of a contract with the Colorado Water
Conservation Board for an amendment to Loan No. 150191 in the amount of
$81,810, for a total loan amount of $277,245, or such actual amount, more or less,
as needed to finance the project costs, including the CWCB loan origination fee of
1%;
2. to make the annual payments required by the promissory note;
3. to acknowledge the pledge of an additional interest in real estate, including execution
of a security agreement and deed of trust, necessary to convey a security interest in
said property to the CWCB;
4. to execute all documents as required by the loan contract amendment, including, but
not limited to, a Security Agreement and a Promissory Note; and
5. to take such other actions and to execute such other documents as may be
necessary to consummate and implement the loan.
CERTIFICATION
THE UNDERSIGNED MANAGERS HEREBY CERTIFY THAT THE FOREGOING ARE TRUE AND
CORRECT COPIES OF RESOLUTIONS DULY ADOPTED AT A MEETING OF THE COMPANY'S
MANAGERS DULY CALLED AND HELD AS ABOVE RECITED, PURSUANT TO THE COMPANY'S
OPERATING AGREEMENT, AND THAT SAID RESOLUTIONS HAVE NOT BEEN AMENDED OR
RESCINDED.
GIVEN UNDER OUR HANDS AND THE SEAL OF THE COMPANY THE 23 DAY OF J A 1'< 2006.

(SEAL)

By D. -L U~

D. Kevin Vollmer, Manager

:7~'L~

~ael Goss, Manager

Appendix A
Loan Contract C150191 Amendment No.1