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<br />-,/";-"'-", <br /> <br />." <br /> <br />'. <br /> <br />. <br /> <br />, <br /> <br />David Kaye <br />Page 2 <br /> <br />9. Resolution and election requirements: Met. Resolutions <br />and minutes of shareholder meeting approving the project and the <br />loan are attached. <br /> <br />10. Security for repayment: Contract is secured by a UCC <br />security agreement and filings (Exhibits G & H)i and a deed of <br />trust to 100% of the New Cache La Poudre Irrigating Company di- <br />version structure on the Poudre River approx. 2 miles southeast <br />of Timnath, Colorado upon substantial completion of the repair <br />work. <br /> <br />11.. Security for loan: Deed of trust and UCC filings. <br /> <br />Please advise me if you have any question concerning this con- <br />tract. <br /> <br />AG Alpha No. NR WC IJUI <br />AG File No. E936809.320 <br />