CT2018-3122 Amendment NO. 1

• Contract/PO #: CT2018-3122
• Contractor Name: Trinchera Irrigation Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Resolutions of the Shareholders
of the Trinchera Irrigation Company
The SharAolders of the Trinchera Irrigation Company (Company), at a Shareholders' meeting held Ale d ad/b
2018,located at j/, y)(l,� ,Colorado,approved a modification to a loan from the Colorado Water Conservation Board(CWCB),
authorizing the form and execution of a loan contract amendment and the appendices thereto; pledging certain funds as security for the
repayment of amounts specified in the Loan Contract Amendment No.CT2018-3122.
At said meeting,the Shareholders charged that these resolutions are hrepealable during the term of the loan and,pursuant to
the Company's bylaws,authorized the Board of Directors and officers,RESOLVED as follows:
1. to modify the terms of the loan contract#CT2018-3122 with the Colorado Water Conservation Board,to amend the contract to
increase the total loan amount by$316,130.00,from$440,360.00 to$756,490.00.This amount includes the 1%origination
fee,and
2. to levy and collect assessments from the shareholders in an amount sufficient to pay the annual amounts due and to pledge
assessment revenues and the Company's right to receive said revenues for repayment of the loan,and
3. to place said pledged revenues in a special account separate and apart from other Company revenues,and
4. to make the annual payments required by the Amendment to Promissory Note and to make annual deposits to a debt service
reserve fund,and
5. to pledge the assessment revenues backed by a rate covenant and the Mountain Home Reservoir Outlet Structure for the loan,and
6. to execute all documents as required,including the Loan Contract Amendment No.1 and all Amendment Appendices, including
but not limited to, the Amended Promissory Note, Amended Security Agreement, and Amended Deed of Trust necessary to
convey a security interest in said property to the CWCB,and
7. to take such other actions and to execute such other documents as may be necessary to consummate and implement the loan.
Certification
The undersigned, respectively, the President and Secretary of the Company, hereby certify that the foregoing are true and correct
copies of resolutions duly adopted at a meeting of the Company's shareholders duly called and held as above recited,pursuant to the
Company's bylaws,and that said resolutions have not been amended or r scinded.
Given under our hands and the seal of the Company the ir y day of / P�)Ae ✓ 2018.
(SEAL)
B
Signature
ATTEST:
Name: r p b s iW5 r
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By c2,-&7(74r: Title: �i�"51 sti'l
Signature
Name:s'iq)('c tvp )j Date: Al 1/ 6 / T
Title:6(.0y8,42/ fv1 tUI Sa '- r
Date: JUI V Z 4m/
APPENDIX D
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