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<br />Resolution of Sundance Investments, RECEIVED
<br />A Colorado General Partnership
<br />JUL 30 Nib
<br />Division of P@d151fiW®it,
<br />WHEREAS, Sundance Investments, A Colorado General Partnership ("Partnership" rinOg �l y
<br />desires to clarify Partnership activity and actions from the date of December 1, 2000 until
<br />present, December 31, 2010.
<br />BE IT RESOLVED:
<br />On December 1, 2000, the members and percent ownership within the Partnership were:
<br />Sally J. Drabing, Managing Partner, 19.8%; John H. Drabing, General Partner, 0.2%;
<br />Jeffrey M. Drabing, General Partner, 20%; Diane E. Drabing, General Partner, 20%;
<br />Michael S. Drabing, General Partner, 20% and Kirk S. Drabing, General Partner, 20%.
<br />2. On December 31, 2000, Kirk S. Drabing, General Partner, was bought out of the
<br />Partnership upon mutually agreed upon terms and conditions by all of the partners.
<br />3. On January 1, 2001, the members and percent ownership within the Partnership were:
<br />Sally J. Drabing, Managing Partner, 24.8%; John H. Drabing, General Partner, 0.2%;
<br />Jeffrey M. Drabing, General Partner, 25%; Diane E. Drabing, General Partner, 25% and
<br />Michael S. Drabing, General Partner, 25%.
<br />4. On July 14, 2003, a Letter of Intent was executed between the Partnership and Lafarge
<br />West, Inc. ("Lafarge") to facilitate further negotiations between the parties for the
<br />purposes of a gravel lease to be operated on Partnership land holdings.
<br />_ !> 5. On or about July 9, 2004, Michael S. Drabing was named Managing Partner of the
<br />Partnership. A Partnership Resolution, dated July 9, 2004, hereto attached as Exhibit A,
<br />shows such transfer of authority allowing Michael S. Drabing to sign legal documents on
<br />behalf of the Partnership.
<br />6. On July 12, 2004, a Gravel Property Lease With Right Of First Refusal ("Lafarge Lease")
<br />was executed between the Partnership and Lafarge. The Lease Commencement Date
<br />("LCD") was set for November 1, 2004.
<br />7. On July 1, 2005, Sally J. Drabing, General Partner, passed away.
<br />8. On June 30, 2006, Sally J. Drabing's 24.8% ownership interest in the Partnership was
<br />transferred to the Sally J. Drabing By Pass Trust.
<br />9. On July 1, 2006, the members and percent ownership within the Partnership were: John
<br />H. Drabing, General Partner, 0.2%; Jeffrey M. Drabing, General Partner, 25%; Diane E.
<br />Drabing, General Partner, 25%; Michael S. Drabing, Managing Partner, 25%; and the
<br />Sally J. Drabing By Pass Trust, General Partner, 24.8%.
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