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4. The Sanchez Ditch and Reservoir Company is authorized, through its board of <br /> directors, to execute documents necessary to convey a security interest in said assessments and <br /> collateral, if necessary,to the CWCB; and <br /> 5. The Sanchez Ditch and Reservoir Company is authorized, through its board of <br /> directors, to approve a change in the loan term from 30 years to 40 years and to change the <br /> interest rate charged from 1.75%to 2.0%. <br /> CERTIFICATE <br /> The undersigned officers of the Board of Directors of the Sanchez Ditch and Reservoir <br /> Company do hereby certify that the above Resolution was adopted by the Sanchez Ditch and <br /> Reservoir Company at a special shareholders meeting held on August 4, 2014, with quorum <br /> being established, and pursuant to the applicable articles of incorporation and bylaws of the <br /> Sanchez Ditch and Reservoir Company. <br /> ;44i en/ <br /> Officer <br /> Attest <br /> APPENDIX D <br />