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(DRAFT RESOLUTION) <br /> RESOLUTION OF THE SHAREHOLDERS <br /> OF THE LOLOFF LATERAL DITCH COMP b Y <br /> Concerning en amendment of the contract dated November 246_199 , • -4 , Lateral <br /> Ditch Company (hereinafter referred to as COMPANY) and , ate of • Water <br /> Conservation Board (hereafter referred to as the STATE), wge th•-; • nt borrowed is <br /> increased by $12,000 from $71,500 to $83,500. The followin re Z` `ti s e - •opted <br /> by the shareholders of the Loloff Lateral Ditch Company at `- et" • held <br /> ` /i) 9 , 1995, at Kersey, Colorado, and these resolutions ar- -:table <br /> during the like of the loan. <br /> a. RESOLVED, that the shareholders hereby authorizes the COMPANY to <br /> contract for this additional loan debt, and authorizes the President and the <br /> Secretary to pay the indebtedness on behalf of the COMPANY, and <br /> c. RESOLVED, that the shareholders hereby authorizes the COMPANY to make <br /> and levy assessment(s) sufficient to pay off this contract loan pursuant to its <br /> terms, and <br /> d. RESOLVED, that the shareholders hereby authorizes the COMPANY to set <br /> aside this assessment revenue in a special fund separate and apart from other <br /> COMPANY revenues to assure repayment of this revenue to the STAtE, and <br /> e. RESOLVED, that the shareholders hereby authorizes the COMPANY to sign <br /> a security interest in such assessment revenues in favor of the STATE to <br /> secure the repayment. . <br /> Dated this 9 day of \Jptg , 1995 <br /> LOLOFF LATERAL DITCH COMPANY <br /> By)a4,714.3 06) gdeig,,di <br /> Title: de�� <br /> ATTEST: Y S� i <br /> .4_/:ii_ii /5 Wit"Lf/ <br /> APPENDIX D <br />