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<br />JUN~21-2005 10:48 FROM: TOWN OF HILLROSE <br /> <br />1(970)847-3761 <br /> <br />TO: 13038942578 <br /> <br />P.2/2 <br /> <br />'. <br /> <br />Department of Natural Resources <br />Colorado Water Conservation Board <br />December 29, 2004 <br />Page 2 <br /> <br />accordance with the Contract's terms except as limited by state and <br />federal laws affecting remedies and by bankruptcy, reorganization, or <br />other laws of general application affecting the enforcement of <br />creditors' rights, generally. <br />7. To the best of my knowledge, there are no provisions in the Colorado <br />Constitution or any state or local law that prevents the Contract from <br />binding Borrower. <br />8. There are either no usury laws of this State applicable to the Contract <br />or the Contract is in accordance with and does not violate any such <br />usury laws, as may be applicable. <br />9. There are either no procurement or public bidding laws of the State <br />applicable to the completion of the project, as defmed in the Contract, <br />or the completion of the project under the Contract complies with all <br />such procurement or public bidding laws, as may be applicable. <br />10. There are no legal or governmental proceedings or litigation pending <br />or, to the best of my knowledge, threatened or contemplated or any <br />basis therefore wherein an unfavorable decision, ruling, or finding <br />might adversely affect the transactions contemplated in or the validity <br />of the Contract. <br />11. The adoption. execution, and/or delivery of the Contract and the <br />proceedings and the compliance by Borrower with the provisions of <br />the Contract and the proceedings will not conflict with or constitute <br />a breach of or default under any court decree or order or any <br />agreement, indenture, lease, or other instrument or any existing law <br />or administrative regulation, decree, or order to which Borrower is <br />subject or by which Borrower is bound. <br /> <br />Very Respectfully, <br /> <br />~~.lli~ <br /> <br />CARL S. McGUIRE III <br />Town Attorney <br /> <br />cc: Town of Hillrose <br /> <br />