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4157339 <br /> Pase I or 3 <br /> SAN tlIGI]EL COUNTY, CO <br /> PEGGY MERLIN CLERK-RECORDER <br /> 01-06-2011 02:41 PM Recordins Fe* $21.00 <br /> STATEMENT OF AUTHORITY <br /> Collins Morehead,I.L.C,a Colorado limited liability company <br /> Effective Date:December$ .2010 <br /> 1. The name of the entity for which this Statement of Authority is being executed and provided is <br /> "Collins Morehead,LLC.a Colorado limited liability company"("Company"). <br /> 2. The Company is a limited liability company duly formed under the laws of the Stan. Colorado. <br /> The initial and current"Members"of the Company are:Daniel[.cc Collins and Laurie Lundquist Collins <br /> (together"Collins")and Jon Morehead and Lois Kathryn Morehead(together"Morehead). <br /> 3. The principal address of the Company is 26 Deep Creek Road,Telluride.Colorado 81435-3055. <br /> The mailing address of the Company is P.O.Box 3055.Telluride, Colorado 81435-3055. <br /> 4. The Company is pursuing the acquisition("Parcel B Transaction")of Parcel B.Deep Creek <br /> Placer,San Miguel County,Colorado("Parcel B"). <br /> 5. The management of the Company is vested in"Managers`. The initial and current ' 'inagers of <br /> Company are:Daniel L.Collins, Laurie Lundquist Collins.Jon Morehead and Lois Kathryn Morehead. <br /> Initially and only with respect to the Parcel B Transaction.the Members and Managers hereby designate <br /> appoint and authorize Daniel L.Collins to individually execute and deliver any and all necessary and <br /> appropriate documents required to complete the Parcel B Transaction. The signature of Daniel L.Collins <br /> with respect to the documents associated with the Parcel B Transaction will be sufficient to bind the <br /> Company. In 311 other insuinces. separate and apart from the Parce]B Transaction.the signature of each <br /> of the Managers will be required to transact business on behalf of the Company. <br /> 6. In addition to the specific authority as provided for hereinabove with respect to the Parcel B <br /> Transaction the Company states and affirms that the Managers are duly authorized to under 'e any and <br /> all lawful actions deemed necessary and appropriate by the Managers for and or:behalf of the Company, <br /> including,without limitation,the acquisition,leasing and disposal of real and personal property for the <br /> Company("Company Property"):the acquisition and disposal of negotiable instruments: the <br /> procurement of financing for the Company,the open:ng,operating and administering bank accounts on <br /> behalf of the Company the submission,processing and completion of plan and permit applications <br /> concerning the use and development of any and all Company Property; entering into contracts and <br /> agreements to retain consultants to assist in the development of any Company Property:and all other <br /> actions for which a Colorado limited liability company is authorized to undertake under applicable law <br /> 7. The foregoing authority shall extend to and authorize the Managers to execute,deli and,where <br /> appropriate,record instruments and documents concerning these powers,which third panics may rely <br /> upon as evidence of a duly binding and effective commitment on the part of the Company. <br /> Fig. 4. Statement of Authority, p. 1. <br /> 1F <br />