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<br />r' I~.
<br />CORPORATE RESOLUTION TO BORROW
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<br />Q70&lJ,?;;),03
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<br />Borrower:
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<br />Lender: BANK OtiE, COLORADO, N.A.
<br />DOWNTOWN GREELEY BUSINESS B KING
<br />SEVENTH STREET AND 9TH AVENUE
<br />
<br />G~~lCO 8063~~/;l'h? J;] / ,/
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<br />I, the underSigned officer of FARMERS INDEPENDENT DITCH CO (the "Corporation"), HEFl.EBY CERTIFY thallhe Corporalloll Is organized and
<br />existing under and by virtue of the laws of the State of Colorado as a corporation for profit, With ils principal offICe at PO BOX 210, GREELEY, CO
<br />80632, and is duly authorized to lransacl business in the Slale of Colorado.
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<br />I FURTHER CERTIFY thai at a meeting of the Directors of the Corporation. duly called and held and al which a quorum was present and voting, or by
<br />other duly authorized corporate aclion In lieu of a meeling, the following resolullons were adopla(j:
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<br />BE IT RESOLVED, that any two (2) of the following named officers, employees, or agents of this Corporation, whose actual signatures are shown
<br />below:
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<br />FARMERS INDEPENDENT DITCH CO
<br />PO BOX 210 .
<br />GREELEY, CO 80632
<br />
<br />NAMES
<br />FRANK ECKHARDT JR.
<br />
<br />RONALD OTTO
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<br />POSITIONS
<br />PRESIDENT
<br />
<br />A
<br />
<br />
<br />SECRETARY
<br />
<br />x
<br />X
<br />
<br />,
<br />
<br />acting for and on behalf 01 the Corporation and as its ael and deed be, and they hereby are, aul~orlzed an empowered:
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<br />Borrow Money. To nagoUata and borrow money from BANK ONE, COLORADO, NA ("lender"), inclIJdlng letters of credit, and guarantee
<br />borrowings of others, on such terms as may be agreed upon between the Corporation's officers, employees or agenls named above and Lender,
<br />and In such amounl or amounts as in their judgment should be borrowed andlor guaranteed, wilhoutlimilalion.
<br />
<br />Execute Evidences of Debt. To execute and deliver 10 Lender promissory noles, chec~s, drafts. acceptances, agreements (including wilhoul
<br />Ilmilallon loan agreements), and guaranlees 01 the Corporallon at such rates of interest and on such terms as may be agreed upon between the
<br />Corporation's officers, employees or agenls named abOve, and Lender, evidencing sums Of money borrowed or guaranteed, or any Indebtedness
<br />or obligallon 01 the Corporation to lender, and also to execute and deliver to lender one Of more renewals, extensions, modifications,
<br />refinancings, consolldatlons or substitutions for anyone or more of, or any portion of, the 10regolng.
<br />
<br />Grant Security. To mortgage, pledge, transfer, endorse, hypothecate, o.r otherwise encUl'l'\ber and deliver to Lender, as seCUrily for the payment
<br />of any loans so obtained or guaranteed, any promissory notes so executed or any other or further indebtedness of the Corporation or 01 others to
<br />Lender at any time owing, however the same may be evidenced, any property now or ~erealler belonging to the Corporation or In which the
<br />Corporal1cin now or hereafter may haVe an lntarest, Including wilhoutllmitation all real property and all personal property (tangible or intangible) of
<br />lhe Corporation. Such property may be mortgaged, pledgad, transferred, endorsed, h}14othecated, or encumbered at the time such loans are
<br />obtained or such indabtedness is incurred, or at any othar time or limes, and may be eithar in addlllon to or In lieu of any proparty theretofore
<br />mortgaged, pledged, transferred, endorsed, hypothecated, or encumbered.
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<br />Execule Security Documents. To execute and deliver 10 Lender the forms of mortgage, deed of trusl, pledge agreement, hypothecation
<br />agreement, and other security agreements and financing statements whIch may be submitted by Lender, and which shall evidence the terms and
<br />conditlons under and pursuant 10 whIch such liens and encumbrances, or any of them, are given; and also to execute and deliver to Lender any
<br />other wrillen Inslruments, any challel paper, or any other collateral, of any kind or nalurg, which they may In their discretion deem reasonably
<br />necessary or proper In connecllon with or pertaining to the giving of the liens and ancuml:)rances. Notwithstanding the foregoing, anyone of the
<br />above authorized p.ersons may_ execute, deliver, or ~ecord flnanclng statements.
<br />
<br />Negollate Items. To draw, endorse, and..discount with Lender all dralls, trade accaptancas, promissory notes, or other evidences of
<br />Indebtedness payable to or betonglng to the Corporation In which the Corporation may have an;lnlerest, and either to receive cash lor the same or
<br />to cause such proceeds 10 be creditad to the account of the Corporation wllh Lender, or 10 cause such other disposition of lhe proceeds derived
<br />therafrom as they may deem advisable.
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<br />Further Acts. In the case of lines 01 credit, 10 designate additional or alternate Individuals as being authorized to request advances thereunder,
<br />and In all cases, to do and perform such other aels and things, to pay any and all fees and costs, and 10 executa and deliver such other
<br />documents and agreements, Including agreements waiving the right to a trial by JIJry, as they may In their dIscretion deem reasonably
<br />necessary or proper in order to carry Inlo effect the prOvisions of these Resolutions.
<br />
<br />BE IT FURTHER RESOLVED, that any and all acts authorized pursuant to these Resolutions and performed prior to the passage of these Resolutions
<br />are hereby ratilied and approved, that these Resolutions shall remain In lull force and effect e.nd lender may rely on these Resolutions until wrillen
<br />notice oltheJr revocatJon shall have been delivered to and received by Lender. Any such nolle, shall not affect any 01 the Corporellon's agreements or
<br />commitments In effect at the lime notice Is delivered and received by lender.
<br />
<br />I FURTHER CERTIFY Ihat the officers, employees, and agents named above are duly elected, appointed, or employed by or fOf" the Corporation, as
<br />the case may be, and occupy the positions set opposite theIr respective names; that the foregoing Resolutions now stand of record on the books of the
<br />CorporatJon; and that the Resolutions are In lull force and effect and have not been modified or revoked in any manner whatsoever,
<br />
<br />IN TESTIMONY WHEREOF, I have hereunto se1 my hand on October 31,1997 and attettt that the signatures set opposite the names listed
<br />above are their genuine signatures.
<br />
<br />
<br />~,/o
<br />
<br />, >>"fl!/h,r-
<br />(TItle)
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<br />LASER PRO, Reg. U.S. Pal. & T.M. 011., Ver. 3.23 (c) 1997 CFI PrcServlcu, Inc. Allrtghts reserved.ICO-C10 3030LC01.LN C1.0VLl
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