NMMI to Alumni Association letter

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The final draft letter of Forbearance voted upon by the NMMI Alumni Association Board of Directors.

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NEW MEXICO MILITARY INSTITUTE
Office of the President/Superintendent 101 West College Boulevard Roswell, New Mexico 88201-5173

April
 15,
 2013
 
  THRU:
 
 
 Mr.
 James
 D.
 Lowe,
 1967
 JC
  Executive
 Director
  New
 Mexico
 Military
 Institute
 Alumni
 Association
 
  101
 West
 College
 Blvd
 Roswell,
 NM
 
 88201
 
  TO:
 
 
 
 
 
 
 
 Lieutenant
 Colonel
 A.D.
 Brownfield
 III,
 AUS
 (Ret),
 1966
 JC
  President,
 Board
 of
 Directors
  New
 Mexico
 Military
 Institute
 Alumni
 Association
 
  101
 West
 College
 Blvd
  Roswell,
 NM
 
 88201
 
  Dear
 Lieutenant
 Colonel
 Brownfield:
 
  New
  Mexico
  Military
  Institute
  (“NMMI”)
  and
  the
  NMMI
  Alumni
  Association
  (“Association”)
  acknowledge
  that
  the
  Memorandum
  of
  Agreement
  (“MOA”)
  between
  the
  two
  above
  named
  entities
  (and
  the
  NMMI
  Foundation)
  originally
  signed
  and
  dated
  March
  30,
  2012
  was
 
  terminated
 on
 April
 22,
 2013
 by
 NMMI.
 
  Under
 Section
 4.5
 of
 the
 MOA,
 upon
 the
 MOA’s
 termination,
 the
 Association
 no
 longer
 was
 to
  be
 provided
 the
 working
 space
 and
 services
 as
 stated
 in
 Section
 3.1(a),
 to
 be
 permitted
 to
 use
  the
  name
  “New
  Mexico
  Military
  Institute”
  or
  any
  of
  the
  Institute’s
  intellectual
  property
  as
  provided
 in
 Section
 3.1(c),
 or
 to
 have
 access
 to
 the
 Database.
 
 
  In
 exchange
 for
 the
 Association
 diligently
 pursuing
 all
 efforts
 
 timely
 (a)
 
 to
 
 complete
 the
 audit
  and
 tax
 reporting
 requirements
 for
  the
 2011-­‐12
 fiscal
 year,
 (b)
 to
 complete
 the
 accounting
 work
  for
  the
  2012-­‐13
  fiscal
  year,
 
  (c)
  to
  identify
  and
  begin
  implementation
  of
  the
  necessary
  procedures
 to
 transfer
 all
 alumni
 affairs
 to
 the
 newly
 created
 Alumni
 Relations
 Office
 of
 NMMI,
  (d)
 to
 develop
 and
 commence
 the
 implementation
 of
 a
 plan
 to
 transfer
 all
 funds
 to
 the
 NMMI
 or
  the
  Foundation,
  as
  appropriate,
  depending
  on
  the
  character
  of
  the
  funds,
  and
  (e)
  to
  initiate
  and
  promptly
  adopt
  a
  board
  resolution
  necessary
  for
  the
  dissolution
  of
  the
  Association
  and,
  thereafter,
  to
  initiate
  the
  process
  to
  hold
  an
  election
  of
  the
  membership
  to
  vote
  on
  the
  dissolution
  of
  the
  Association,
 
 
  NMMI
  agrees
  to
  delay
  enforcement
  of
  the
  termination
  provisions
 of
 Section
 4.5
 and
 to
 permit
 the
 Association
 to
 continue
 the
 use
 of
 its
 office
 space,
  files,
 and
 personnel
 
 
 for
 a
 period
 of
 time
 reasonably
 necessary
 to
 effect
 its
 obligations
 herein
  set
  forth
  (“forbearance
  period”).
  During
  the
  forbearance
  period,
  NMMI
  and
  the
  Association
  agree,
  in
  good
  faith,
  to
  form
  a
  working
  group
  of
  nine
  persons,
  comprised
  as
  follows:
  (1)
  the
  President
  of
  the
  NMMI
  Board
  of
  Regents,
  (2)
  the
  Vice
  President
  of
  the
  NMMI
  Alumni
  Association,
  (3)
  the
  Treasurer/Secretary
  of
  the
  NMMI
  Alumni
  Association,(4)
  the
  Executive
  Secretary
 of
 the
 Alumni
 Association,
 (5)
 the
 Chairman
 of
 the
 Board
 of
 the
 NMMI
 Foundation,
 (6)
  the
 
  President
  of
  the
  NMMI
  Foundation,
  (7)
  the
  NMMI
  Foundation
  Development
  Director,
  (8)
 

the
  Superintendent
  of
  NMMI,
  and
  (9)
  the
  Chief
  of
  Staff
  of
  NMMI.
 
  The
  working
  group
  shall
  have
  the
 mission
 to
 develop,
 more
 specifically,
 the
 plan
 and
 process
 for
 the
 orderly
 transfer
 of
 alumni
  affairs
 to
 NMMI,
 the
 transfer
 of
 funds,
 to
 formulate
 and
 transmit
 to
 all
 Alumni
 an
 explanation
 of
  the
  details
  of
  the
  transition
  plan
  utilizing
  the
  substance
  of
  the
  draft
  transition
  plan
  submitted
  to
  the
 Association’s
 Board
 through
 counsel,
 and
 the
 dissolution
 of
 the
 Association.
 
 
  However,
  NMMI
  reserves
  the
  right
  to
  proceed
  to
  enforce
  the
  terms
  of
  termination
  if
  it
  is
  determined
 by
 NMMI
 that
 progress
 or
 sufficient
 progress
 is
 not
 occurring
 and
 upon
 giving
 the
  Association
  30
  days
  written
  notice,
  transmitted
  electronically
  to
  counsel
  for
  the
  Association
  and
  to
  the
  President
  of
  Association.
 
 
  Progress,
  as
  that
  term
  is
  used
  in
  this
  forbearance
  letter,
  contemplates
  the
  immediate
  initiation
  by
  Association
  board
  of
  a
  good
  faith
  effort
  to
  conclude
  the
 satisfaction
 of
 all
 terms
 of
 this
 forbearance
 letter
 by
 June
 30,
 2013.
 
 NMMI
 agrees
 to
 provide
  such
  logistical
  and
  personnel
  assistance
  to
  the
  Association
  as
  the
  Association
  shall
  reasonably
  request
  in
  order
  to
  facilitate
  the
  timely
  achievement
  by
  the
  Association
  of
  the
  terms
  of
  the
  termination
 and
 this
 forbearance
 letter.
 
 
 
 
 
  Should
  you
  have
  questions,
  please
  direct
  them
  first
  to
  me
  personally,
  and
  in
  my
  absence
  to
  David
 West,
 NMMI
 Chief
 of
 Staff.
 

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