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collateral for the repayment of the Loans in accordance with the terms established <br /> in the Loan Contracts and the Loan Documents (the "Pledged Revenues"). The <br /> Pledged Revenues are pledged to the CWCB as collateral for the term of the Loans. <br /> CCWCD shall segregate each year into separate Loan repayment accounts for <br /> each of the Loans the Pledged Revenues and the Pledged Revenues shall be used <br /> only for repayment of the respective Loans and no other purposes. In addition, <br /> CCWCD shall deposit to the Loan repayment accounts for each of the Loans an <br /> amount equal to one-tenth of an annual payment on the due date of its first annual <br /> Loan payment and annually thereafter until the Loans are paid in full. <br /> 3. Authorization to execute Loan Documents. The President and Treasurer or <br /> Secretary are authorized to sign all Loan Documents as necessary to conclude the <br /> Loan transactions with the CWCB, including but not limited to all of the Loan <br /> Documents and any related and incidental additional documents deemed necessary <br /> by the President and Treasurer or Secretary to conclude the Loan transactions. <br /> Dated this 7th day of October, 2015. <br /> 4; T r <br /> Eliz- eth R. McVicker, President Craig Stmetz, Treasurer <br /> Resolution to Loan Contract CT2016-2048 and Loan Contract CT2016-2047 <br /> Page 2 <br />