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11-lZ"';-1996--\:IT:139PM FROM TO 24171397 P.02 '"I, ....... RESOLUTION OF MUTUAL MESA LATERAL ENTJ.I:Rl'lUSI~ The undt:~igl1ed. being a majority of the Governing Board or the Mutual Mesa Lateral Enterprise ("MMLE'") at a special meeting or the Board held Octooer 29, 1996, at which a quorum of B(,Jard members is present, const:ntto. adopt and vote in J~lvor of the following resolution: RECJTALS A. MMU":, a water activity enterprise fonned and wholly owned by the Orchard Mesa Irrigali(,)Jl District ("aMID"), has agreed to undertake all actions necessary to place the Mutual Mesa Lateral section of OMID's water delivery system, which is currently open ditch, in closed pipe ("reterred to below as the "Mutual Mesa Project'"). The terms cmu conditions under which MMLE will undertake the Mutual Mesa Project 011 OMID's behalf have been reduced to a wriuen contr'c1cl (lhe "Project Agrt;CmcllC), aJlllllsigllcd copy of which is attached to this Resolution and incorporated here by reference. R. The Color.luO Water Conservation Board ("'CWCB") has agreed to loan MMLI: a portion of thl: funds. up to $87 1,800, necessary to undertake the Mutual Mesa Project, subject to the terms and conditions of a Loan Contract & Promissury Null:: by and between the State of Colorado. OMID, and MMLE (the "Loan Contmcl"), an unsigneu \:upy or which is attached to this Resolution and incolporaled here by relerenl;e. The Loan Contract imposes certain duties and obligations on MMLE. C. OMlD has negotiated an agreement with Mendez Inc. to perform necessary construction on the Mutual Mesa Project (the "Contractor Agreement"), a copy of which is attached to this Resolution and incorporated here by reference. l.3y Resolution of its Uoard of Directors. OMID has assigned all of its rights to enter into and perl<mn the Contmctor Agrl:ement to MMLE. D. Pursuant to the Loan Contract, MMLE must establish a Certificate of Depo~it account in the amount of $50,370.02 and assign the CertiJicate of Deposit to thc State of Colorado. Pursuant to the Project Agreement. as additional compensation f~)r the duties and obligations undertaken by MMLE pursuant to that agreement. OMID is requir~u to Joan MMLE the amount necessary to establish the required Ccrlilicatc of Deposit. E. MMLE Illustuppoint a Secretary to attest to the \;:xl.'l:t1t;on of the Loan Agreement and other documents. RESOLUTION I. Al'pointment. The Boaru appoints Della Grams as S~aetary of MMLE and authori7.~s and directs her to attest. as nece:)sary, tu the proper eXI,..'Cution of the Lmm Agreement