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CT2017-913 Contract
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CT2017-913 Contract
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Last modified
2/17/2017 3:28:57 PM
Creation date
7/28/2016 1:41:42 PM
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Loan Projects
Contract/PO #
CT2017-913
Contractor Name
Union Well Augmentation Group
Contract Type
Loan
County
Weld
Loan Projects - Doc Type
Contract Documents
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RESOLUTIONS OF THE SHAREHOLDERS <br /> OF THE UNION WELL AUGMENTATION GROUP,LTD. <br /> The Shareholders of Union Well Augmentation Group,Ltd. (Company)at a Shareholders'meeting held <br /> June 71 ,2016,at / r e, edriado,adopted the following resolutions concerning a secured loan from the State <br /> of Colorado Water Conservation Board(CWCB),for the purpose of the Union Reservoir Water Rights Purchase <br /> (Project),in an amount not to exceed$248,157.00 which includes the CWCB LOAN ORIGINATION FEE of i%of the <br /> BASE LOAN AMOUNT. <br /> At said meeting, the Shareholders charged that these resolutions are irrepealable during the term of <br /> the loan and,pursuant to the Company's bylaws, authorized the Board of Directors and officers, RESOLVED <br /> as follows: <br /> 1. to enter into and comply with the terms of a contract with the Colorado Water Conservation Board for a <br /> loan in an amount not to exceed $248,157.00, as needed to finance the project costs, including the CWCB <br /> LOAN ORIGINATION FEE of 1%,and <br /> 2. to levy and collect assessments from the shareholders in an amount sufficient to pay the annual amounts <br /> due under the LOAN CONTRACT,and to pledge assessment revenues and the Company's right to receive said <br /> revenues for repayment of the loan,and <br /> 3. to place said pledged revenues in a special account separate and apart from other COMPANY revenues,a d <br /> 4. to make the annual payments required by the PROMISSORY Nom and to make annual deposits to a debt <br /> service reserve fund,and <br /> 5. to pledge the assessment revenues backed by an assessment covenant and the Union Reservoir Water Nights <br /> for the loan,and <br /> 6. to execute all documents as required by the LOAN CONTRACT, including, but not limited to, a PROMI SORY <br /> NOTE,SECURITY AGREEMENT and DEED OF TRUST, necessary to convey a security interest in said prope to <br /> the CWCB,and <br /> 7. to take such other actions and to execute such other documents as may be necessary to consummat4 and <br /> implement the loan. <br /> CERTIFICATION <br /> THE UNDERSIGNED, RESPECTIVELY, THE PRESIDENT AND SECRETARY OF THE COMPANY, HEREBY CERTIFY THAI(THE <br /> FOREGOING ARE TRUE AND CORRECT COPIES OF RESOLUTIONS DULY ADOPTED AT A MEETING OF THE COMPANY'S <br /> SHAREHOLDERS DULY CALLED AND HELD AS ABOVE RECITED,PURSUANT TO THE COMPANY'S BYLAWS,AND THAT SAID <br /> RESOLUTIONS HAVE NOT BEEN AMENDED OR RESCINDED. <br /> GIVEN UNDER OUR HANDS AND THE SEAL OF THE COMPANY THE 24 DAY OF June 201[. <br /> (SEAL); <br /> BY: 1aitiA- <br /> Signature <br /> ATTEST: <br /> - . ‘,, , , , 4_,_____„____ <br /> NAME: Gary Alles <br /> • , Signature TITLE: President <br /> NAME: Donna L. Cohl e DATE: .Tune 24, 2016 <br /> TITLE: Secretary <br /> DATE: June 24, 2016 <br /> Appendix 4a <br /> Page 1 of 1 <br />
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