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<br />STOCK ASSIGNMENT <br /> <br />For value received, the LOWER ARKANSAS WATER MANAGEMENT ASSOCIATION hereby sells, <br />assigns and transfers 2 shares of stock of the Highland Irrigation Company unto the COLORADO <br />WATER CONSERVATION BOARD, which stock is standing i ame of the undersigned on the <br />books and records of the company represented l:i erti ate No. 305, and do hereby <br />irrevocably constitute and appoint . ~ ~ ';4G,.?~ Lb as attorney-in-fact <br />to transfer the said stock on the books of t ompany with full power of substitution in the <br />premises. This Stock Assignment shall be effe 've solely in the event of an issuance by a <br />Colorado District Court of an o~orizing a foreclosure sale of said shares of stock <br />pursuantta Rule 120 afthe calOLO of Civil Procedures. <br /> <br />Dated 7 //7 /~ <br /> <br />Lower Arkansas Water Management Association <br /> <br /> <br /> <br />" <br />I <br /> <br />By <br />Donald F. Higbee, Corporate <br /> <br />.... <br />