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CORPORATE AUTHORIZATION RESOLUTION <br /> FIRST NATIONAL BANK OF ELK RIVER By. ELK RIVER MUNICIPAL UTILITIES <br /> 729 MAIN STREET 13069 ORONO PARKWAY NW <br /> ELK RIVER, MN 55330 PO BOX 430 <br /> ELK RIVER MN 55330-0430 <br /> /Reff Referred to inw this as "Financial Institution" Referred to in this document as "Corporation" <br /> I, �1 1 '1 Ad t�' -5 , certify that I am Secretary (clerk) of the above named corporation organized under the laws of <br /> MINN SOTA , Federal Employer I D Number , engaged in business under the trade name of <br /> ELK RIVER MUNICIPAL UTILITIES , and that the resolutions on this document are a correct copy of the resolutions <br /> adopted at a meeting of the Board of Directors of the Corporation duly and properly called and held on 03/f//08 (date) <br /> These resolutions appear in the minutes of this meeting and have not been rescinded or modified <br /> AGENTS Any Agent listed below, subject to any written limitations, is authorized to exercise the powers granted as inoicated below <br /> Name and Title or Position Signature Facsimile Signature <br /> (if used) <br /> A JEROME A TAKLE X X <br /> B JERRY GUMPHREY X / / ltiL, X <br /> C JOHN J DIETZ X VjG� �✓ X <br /> D THERESA SLOMINSKI �jy�,��p j icr X <br /> X X <br /> X X <br /> POWERS GRANTED (Attach one or more Agents to each power by placing the letter corresponding to their name in the area before each power <br /> Following each power indicate the number of Agent signatures required to exercise the power ) <br /> Indicate A, B, C, Description of Power Indicate number of <br /> D, E, and/or F <br /> -i7 <br /> signatures required <br /> 3C., (1) Exercise all of the powers listed in this resolution, �— <br /> 12) Open any deposit or share accountls) in the name of the Corporation <br /> 3) (3) Endorse checks and orders for the payment of money or otherwise withdraw or transfer funds on deposit <br /> with this Financial Institution. <br /> (4) Borrow money on behalf and in the name of the Corporation, sign, execute and deliver promissory notes <br /> or other evidences of indebtedness <br /> (5) Endorse, assign, transfer, mortgage or pledge bills receivable, warehouse receipts, bills of lading, stocks, <br /> bonds, real estate or other property now owned or hereafter owned or acquired by the Corporation as <br /> security for sums borrowed, and to discount the same, unconditionally guarantee payment of all bills <br /> received, negotiated or discounted and to waive demand, presentment, protest, notice of protest one <br /> notice of non-payment <br /> (6) Enter into a written lease for the purpose of renting, maintaining, accessing and terminating a Safe <br /> Deposit Box in this Financial Institution <br /> (7) Other <br /> LIMITATIONS ON POWERS The following are the Corporation's express limitations on the powers granted under this resolution. <br /> EFFECT ON PREVIOUS RESOLUTIONS This resolution supersedes resolution dated . If not completed, all resolutions remain in effect <br /> CERTIFICATION OF AUTHORITY <br /> I further certify that the Board of Directors of the Corporation has, and at the time of adoption of this resolution had, full power and lawful authority to <br /> adopt the resolutions on page 2 and to confer the powers granted above to the persons named who have full power and lawful authority to exercise <br /> ' same (Apply seal below where appropriate ) <br /> checked, the Corporation is a non-profit corporation In Witness Whereof, I have subscribed y n e to this document and affixed the seal <br /> of th orporation o // Q- - '— (date) <br /> ''��^^ Attes by One Ot er Officer Secretary <br /> (page 1 of 21 <br /> B © 1985, 1997 Bankers Systems,Inc 5t Cloud, MN Form CA 1 5/1,2003 d <br />