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RECORD OF PROCEEDINGS <br />Catlin Canal Company <br />December 6, 2010 <br />Page 2 <br />Motion was made by Jared Gardner, seconded by Frank Milenski, and carried, to levy a Regular <br />Assessment of $19.40 and a Special Assessment of $2.00 on each share of the capital stock <br />outstanding on date of call. Each assessment is subject to call of the Board of Directors. and is to <br />cover the cost of operation, maintenance, purchase and/or storage of water and debt service. The <br />Regular Assessment will be collected together with assessments of $3.00 for Pisgah and $0.10 for <br />Larkspur. Call of the Special Assessment is limited to a determination by the Board that the same <br />is needed for emergency, or to purchase water. <br />Nomination of John Schweizer, Jr., Roger Maddux, Frank Milenski, Jared Gardner and Alan <br />Frantz to serve as directors for the ensuing year was made by Kenny Mills, with second by Matthew <br />Proctor. Bill Hancock moved nominations cease and a unanimous ballot be cast for the nominees. <br />Motion was seconded by Kenny Mills. Ballot elected the aforementioned directors. <br />Chairman Schweizer asked if there was any further business to come before the meeting. <br />Hearing none the meeting was adjourned. <br />Secretary President <br />CREDENTIALS REPORT <br />With 9325.877 shares being represented in person and 5476.560 <br />shares by proxy, a total of 14802.437 shares are present at this meeting <br />of shareholders of Catlin Canal Company. A quorum -is present with <br />79.327 % of the outstanding shares represented eirt thAs meeting. <br />chairman: <br />Member <br />Date: member: <br />2 <br />