CT2018-980 Contract

• Contract/PO #: CT2018-980
• Contractor Name: Corsentino Dairy Farm
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

LOAN RESOLUTIONS
OF CORSENTINO DAIRY FARMS,INC.
Corsentino Dairy Farms,(Company)has adopted the following resolutions conceming a secured loan from the State
of Colorado Water Conservation Board(CWCB),for the purpose of the Holita Dam Rehabilitation(Project),in an amount not
to exceed S85,446.00 which includes the CWCB LOAN ORIGINATION FEE Of 1%Of the BASE LOAN AMOUNT.The LOAN CONTRACT
No.is CT2c18-9&
These resolutions are irrepealable during the term of the loan and are RESOLVED as follows:
1. to enter into and comply with the terms of a contract with the Colorado Water Conservation Board for a loan in an
amount not to exceed$85,446.00,as needed to finance the project costs,includingthe CWCB LOAN ORIGINATION FEE Of
i%,and
2. to deposit an amount equal to an annual payment into its debt service reserve account prior to funds being disbursed,
and
3 to make the annual payments required by the PaiomtssoAY NOTE,aaid
4. to pledge the iio%of the borrowed amount of the loan,including the Corsentino Dairy Farm land and 93.12%inter es t in
the.Holita Reservoir andassociated water rights,and
5. to execute all documents as required by the LOAN CONTRACT,including,but not limited to,a PROMISSORY NOTE and DEED
OF TRUST,necessary to convey a security interest in said propertyto the CWCB,and
6. to take such other actions and to execute suchother documents as maybe necessaryto consummate and implement the
loan.
CERBIFICAT)ON
THE UNDERSIGNED, RESPECTIVELY, HEREBY CERTIFY THAT THE FOREGOING ARE A TRUE AND CORRECT COPY OF RESOLUTIONS DULY
ADOPTED PURSUANT TO THE COMPANY'S BYLAWS,AND THAT SAID RESOLUTIONS HAVE NOT BEEN AMENDED OR RESCINDED.
GIVEN UNDER OUR HANDS AND THE SEAL OF THE COMPANYTHFtiZDAYOF l�Uqus 2017.
BY:
Signature
ATTEST:
NAME: Coe ^41 n O
BY: C �tl
Signature L TITLE: _q e'
NAME:,Ta� Pl �Or�h�I 11.�0 DATE: O 0—
TITLE: V
DATE: J I 1
APPENDIX 4