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11-12-199603:10PM FROM TO 2417097 P.03 , "\,., .- and all other documents required to be executed by MMLE in connection with the Mutual Mesa Project. 2. Loan Contract. The Board approves the LO.Ul Contract in the form allached to this Resolution and authorizes and directs MMLE's Manager to take all actions and sign all documents necessary to enter into and comply with that contmct. 3. Proieet Al,:reement. The Board approves the Project Agreement in the form attached to this Resolution and authurizes and directs MMLE'!> Manager to take all actions and sign aU documents necessary to enter inw and comply with that <lgrccment. 4. Contractor Al:I.reclllcnt. The 130ard authorizes and directs MMLE's Manager to take all actions and sign all documents necessary to enter into and comply with the Cvntrador Agreement. 5. ~iUlicate of Deposit Loan. The 130ard authorizes and directs MMLE's Manager to take aU actions and sign all d(lcumenL<; necessary to: (i) borrow sufficient funds from OMID to enable MMLE to establish a Certiticate of Oeposi t in accordance with the tcrms of the Loan Contract; (ii) to establish such Certificate of Dcposit~ and, (iii) execute an assignment of that Certificate of Deposit 10 the State of Colorado in accordance with the terms of the Loan Contract. 6. Security ^grecment. The Loan Contract requires MMLE tu execute a Security Agreement in accordance with the Pledge or Revenues provisions of the Loan Contract to secure the State of Colorado's rights in MMLE revcnucs pledged to repayment of funds loaned pursuant to the Lmm Contract. The Board authorizes and directs MMLE's Manager to execute the required Security Agreement in accordance with the terms of the Loan Contract 7. Reserve Debt Service fund. Pursuant to the Loan Conlract, MMLE is required to establish a reserve debt service fund by making an annual deposit ill an appropriate account equivalent to one-tenth or an annual payment under the Loan Contract every year lor ten years, and to replenish that tLmd anytime it is depicted. The Buard aulhori7.t:s and directs MMLE's Manager to take all actions and sign all documents necessary to establish the required reserve debt service fund and fund it as required by the Loan Contract. 8. Rl:payment of Loan. The 130ard authorizes and directs MMLE's Manager to take all actions and sign aU documents necessary to: (a) Set rates. fees and charges to be collected from OMID pursuant to the Project Agreement in an amount sufficient to repay the annual amounts due to the State of Colorado under the Loan Contract; (b) Place money collected trmll aMIO each year in a special account separate and apart from \.~ther MMLE revenu~~ in an allwunt sufficient to assure repayment of "2.