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RESOLUTIONS OF THE SHAREHOLDERS <br /> OF BOULDER & LEFT HAND IRRIGATION COMPANY <br /> The Shareholders of Boulder& Left Hand Irrigation Company (Company), at a Shareholders' meeting held <br /> Y 3 , 2014, located at(-444-"'0^rieolorado, approved a modification to a loan from the Colorado Water <br /> Conservation Board (CWCB), authorizing the form and execution of a loan contract amendment and the <br /> appendices thereto; pledging certain funds as security for the repayment of amounts specified in the Loan <br /> Contract Amendment No. 1. <br /> At said meeting, the Shareholders charged that these resolutions are irrepealable during the term of the <br /> loan and, pursuant to the Company's bylaws, authorized the Board of Directors and officers, RESOLVED as <br /> follows: <br /> 1. to modify the terms of the Loan Contract #C150357 with the Colorado Water Conservation Board, increasing <br /> the loan contract amount from $159,075 to $202,000, and <br /> 2. to levy and collect assessments from the shareholders in an amount sufficient to pay the annual amounts due <br /> and to pledge assessment revenues and the Company's right to receive said revenues for repayment of the <br /> loan, and <br /> 3. to place said pledged revenues in a special account separate and apart from other Company revenues, and <br /> 4. to make the annual payments required by the Amended Promissory Note and to make annual deposits to a <br /> debt service reserve fund, and <br /> 5. to pledge, as Collateral, for the loan the Company's, assessment revenues and an undivided one hundred <br /> percent (100%) interest in the Project which includes a new diversion structure and high density polyethylene <br /> (HDPE) plastic piping running from the new diversion structure to the 79th Street crossing, and <br /> 6. to execute all documents as required, including the Loan Contract Amendment No. 1 and all Amendment <br /> Appendices, including but not limited to, the Amended Promissory Note, Amended Security Agreement, and <br /> Amended Deed of Trust necessary to convey a security interest in said property to the CWCB, and <br /> 7. to take such other actions and to execute such other documents as may be necessary to consummate and <br /> implement the loan. <br /> Certification <br /> The undersigned, respectively, the President and Secretary of the Company, hereby certify that the foregoing <br /> are true and correct copies of resolutions duly adopted at a meeting of the Company's shareholders duly called <br /> and held as above recited, pursuant to the Company's bylaws, and that said resolutions have not been <br /> amended or rescinded. sr <br /> Given under our hands and the seal of the Company the 36 day of MA-1 2014. <br /> (S E A L) <br /> By A6,„ if\A,-/\--, -0.1,,,vin; <br /> Signature <br /> ATTEST: l <br /> Name: Vav-&-e0 3�GZV a)nlc tZ <br /> By �'-�S �►\C Title: feQ D ruJ T <br /> Signature of Corporate Secretary Date: <br /> Date: ,_5/31 1 <br /> Appendix D to Loan Contract C150357 <br /> Page 1 of 1 <br />