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<br />f <br /> <br />F <br />I. <br /> <br />I- <br />f <br />I <br /> <br />J <br />iI <br />, <br />I, <br /> <br />r-- <br /> <br />J <br />, <br />, <br />l- <br />t <br />f <br /> <br />I <br />I <br />[J <br />lJ <br /> <br />deemed necessary by the Board. Any two or more offices may be held <br />by the same person, except the offices of President and Secretary or <br />Assistant Secretary shall not be held by the same person. The office <br />of President shall not be held by the same person that is Secretary <br />or Assistant Secretary. Officers need not be Directors. <br />5.2. Vacancies. Whenever any vacancy occurs in any office by <br />death, resignation, increase in the number of offices of the <br />corporation, or otherwise, that vacancy shall be filled by the Board. <br />The officer so selected shall hold office until his successor is <br />chosen and qualified. <br />5.3. President. The president shall be the Executive Officer of <br />the Corporation and shall exercise detailed supervision over the <br />business of the Corporation and o'ver its several officers, subject, <br />however, to the control of the Board. The President shall preside at <br />all meetings of shareholders and Directors and discharge all the <br />duties which devolve upon a presiding officer. The President shall <br />have full authority to execute proxies in behalf of the Corporation, <br />and to vote stock owned by it ln any other corporation. The <br />President may also execute, with the Secretary, powers of attorney <br />appointing other corporations, partnerships, or individuals the agent <br />or agents of the Corporation, .all subject to the provisions of the <br />I <br />laws of Colorado then in effect and the Articles of Incorporation of <br />this Corporation and these By-Laws. In general, the president shall <br />perform all duties as from time to time may be assigned to him by the <br />Board. <br /> <br />5.4. Vice President. The Vice President shall perform all <br /> <br /> <br />duties incumbent upon the president during the absence or disability <br /> <br /> <br />of the President, and shall perform such other duties as these <br /> <br /> <br />By-Laws may require or the Board may prescribe. <br /> <br /> <br />-7- <br />