C150333 Contract - Laserfiche WebLink

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project costs, including the CWCB loan origination fee of 1 %, and 2. to levy and collect assessments from the shareholders in an amount sufficient to pay the annual amounts due under the Loan Contract, and to pledge assessment 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 May Pipeline as collateral for the loan and execute all documents, including a 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 Security Agreement and a Promissory Note, and 7. to take such other actions and to execute such other documents as may be necessary to consummate and implement the loan. BE IT FURTHER RESOLVED that the foregoing Resolution is irrepealable during the term of the loan. WE, BEING ALL OR A MAJORITY OF THE SEVEN DIRECTORS OF THE COMPANY, HEREBY APPROVE the foregoing Resolution this t day of June 0 2. Director / Director Director. Director X17 Director Director Director CERTIFICATION IT IS HEREBY CERTIFIED that that this is a true and correct copy of the Resolution duly adopted at a special meeting of the Company's Board of Directors duly called and held as above recited, pursuant the Company's By -Laws, and that said Resolution has not been amended or rescinded; WE HEREBY FURTHER CERTIFY, that the signatures appearing above are the genuine, original signatures of members of the duly appointed President, duly appointed Secretary of the Company, and members of the Board of Directors, respectively; and MVIC — Gen Rep 2 Resolution Re 2012 Loan from CWCB March 27. 2012 Appendix 3a to Loan Contract C150333 Page 2 of 3