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11-12-1996 03:08PM FROM TO 2417097 P.01 -- RI~SOLUTl()N I. 1&.111 Contract. The Ho:mJ approves the Loan Contract in the form attached to this RC$ulution and authol'izcs and din~ds tilt: appropriate OMID onicers and employees to tuke all actions and sign <III documcnts necessary to enter into and comply with thut contract. 2. Project A~~ment. The Board approves the Projcct Agreement in the form attached to this R~solutiol1 and authorizes and directs the appropriate OMID officers and employees to take all uctions and sign all dm;umel1ts necessary to enter into and comply with that contract. 3. Contractor Agreement. By this Resolution, tile Buard assigns all ofOMlD's rights to enter into the Contractor Agreement to MMLE. 4. Certificate of Deposit Loan, The Board authorizes and directs the appropriate OMID officers and employees to take all actions and sign all documents necessary to Joan MMLE sufficient funds to enable MMLE to establish a Certificate of Deposit in accordance with the terms of the Lllan Contract. As security for loaning MMLE these funds. OMJD will require MMLE to pledge the Certificate of Deposit to OMID.However, OMID will subordinate its interest in th<:lt Certificate of Deposit to the assignment of the CCI1i licate 0 f Deposit to the State of Colorado pursuant to the Loan Contract, and the Board authorizes and directs the appropriate OMID orficcrs and employees to take all actions and sign all documents necessary to evidence that subordination. 5. Irrepealable. Each of the above resolutions is irrepealable during the tcrm of the Loan Contract~ provided. however, that aMID's performance of its duties and obligations under the Project Agreement shall be subject to annual appropriations. ADOPTED this 29th day of October, 1996. _J /" :.-;.../~, ,.lJ " ,. (: -) 1. ) /~~ . " ,; ",.\ ,~'C ./ / ". .-.' --"--'-' , ,/ '..L-~' ./ . :'=~a~'j ft?i~f'~LI;'~/ HERMAN BEARD 1 /; , . 1,_--;< -- l \..', ''/ I ", ~-~"':.-i,~..;,:.. . NORMAN FRIEND 'J' 'J . /,' ~,( '- MEL VIN RETTIG J~ .'1 i- 'I , f~. J I . i ~ . I '. .~, ,.P" (' t:' i / -~/ # .' / - ',r,^(X., I..<<~ ," / i '- 'L':\RRY .LARK F \\VI'\"'J\~~lllC~\l.O"l'JKf~ ,"1)