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<br />RESOLUTION OF <br />MUTUAL MESA LATERAL ENTERPRISE <br /> <br />The undersigned, being a majority of the Governing Board of the Mutual Mesa Lateral <br />Enterprise ("MMLE") at a special meeting of the Board held October 29, 1996, at which a <br />quorum of Board members is present, consent to, adopt and vote in favor of the following <br />resolution: <br /> <br />RECITALS <br /> <br />A. MMLE, a water activity enterprise formed and wholly owned by the Orchard <br />Mesa Irrigation District ("OMID"), has agreed to undertake all actions necessary to place the <br />Mutual Mesa Lateral section of OMID's water delivery system, which is currently open ditch, in <br />closed pipe ("referred to below as the "Mutual Mesa Project"). The terms and conditions under <br />which MMLE will undertake the Mutual Mesa Project on OMID's behalf have been reduced to a <br />written contract (the "Project Agreement"), an unsigned copy of which is attached to this <br />Resolution and incorporated here by reference. <br /> <br />B. The Colorado Water Conservation Board ("CWCB") has agreed to loan MMLE a <br />portion of the funds, up to $871,800, necessary to undertake the Mutual Mesa Project, subject to <br />the terms and conditions of a Loan Contract & Promissory Note by and between the State of <br />Colorado, OMID, and MMLE (the "Loan Contract"), an unsigned copy of which is attached to <br />this Resolution and incorporated here by reference. The Loan Contract imposes certain duties <br />and obligations on MMLE. <br /> <br />C. OMID has negotiated an agreement with Mendez Inc. to perform necessary <br />construction on the Mutual Mesa Project (the "Contractor Agreement"), a copy of which is <br />attached to this Resolution and incorporated here by reference. By Resolution of its Board of <br />Directors, OMID has assigned all of its rights to enter into and perform the Contractor <br />Agreement to MMLE. <br /> <br />D. Pursuant to the Loan Contract, MMLE must establish a Certificate of Deposit <br />account in the amount of$50,370.02 and assign the Certificate of Deposit to the State of <br />Colorado. Pursuant to the Project Agreemcnt, as additional compensation for the duties and <br />obligations under1aken by MMLE pursuant to that agreement, OMID is required to loan MMLE <br />the amount necessary to establish the required Certificate of Deposit. <br /> <br />E. MMLE must appoint a Secretary (0 attcst to the exccution of (he Loan Agrecment <br /> <br />and othcr documcnts. <br /> <br />RESOLUTION <br /> <br />I. Appointment. Thc Board appoints Dclla Grams as Secrctary of MMLE and <br />authorizes and directs her to attcst, as necessary, to the proper cxecution of the Loan Agreemcnt <br /> <br />Appendix A to Loan Contract #C153723 <br />