C150349 Contract

• Contract/PO #: C150349
• Contractor Name: Ordway Feedyard LLC
• Contract Type: Loan
• Water District: 17
• County: Crowley
• Loan Projects - Doc Type: Contract Documents

RESOLUTIONS OF THE GENERAL MANAGER
OF ORDWAY FEEDYARD, LLC.
The General Manager of Ordway Feedyard, LLC (COMPANY), Joe Spitz (MANAGER), acting on behalf of the members
of the COMPANY and pursuant to the COMPANY's Articles of Organization, has agreed to the following resolutions concerning a
secured loan from the State of Colorado Water Conservation Board (CWCB), for the purpose of Ordway Feedyard Raw
Water Line Extension Project in the amount of $2,525,000 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.
The MANAGER charges that these resolutions are irrepealable during the term of the LOAN CONTRACT and pursuant to the
COMPANY's Articles of Organization, authorizes the following:
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 $2,525,000, 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 lease assessments and other legally available revenues an amount sufficient to pay the annual
amounts due under the LOAN CONTRACT, and to pledge lease 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
5. to pledge the lease revenues and other legally available revenues, and a combination of real property equal in value to
110% of the loan amount, as COLLATERAL for the loan, and execute all documents, Including a SECURITY AGREEMENT and
DEED OF TRUST, necessary to convey a security interest in said property to the CWCB,
6. to execute all documents as required by the LOAN CONTRACT, including, but not limited to, a PROMISSORY NOTE, SECURITY
AGREEMENT, and DEED OF TRUST, and
7. to take such other actions and to execute such other documents as may be necessary to consummate and implement the
loan.
CERTIFICATION
THE UNDERSIGNED MANAGER, OF ORDWAY FEEDYARD, LLC, HEREBY CERTIFICIES THAT THE FOREGOING IS A
TRUE AND CORRECT COPY OF THE RESLOUTION AND THAT SAID RESOLUTION HAS NOT BEEN AMENDED OR
RESCINDED.
(SEAL)
NOTARY:
County of
a ) ss
State of Colorado )
Ordway Fe y d, LLC
By /
Joe Spitz, ever I Man er(Date
The foregoing instrument was acknowledged before me this
Witness m hand and official seal
day of _s 20 1. by ( o-e Sj; fi )
My commission expires 0- , a a ;a 0 r `-(
(SEAL)
TRICIA DAVIS
NOTARY PUBLIC
STATE OF COLORADO
Appendix 3 to Loan Contract C150349
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