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"~'~~'. ."... ....VO'v vI UIlt'L'Ur:. dl dllY rneellng may order that the share or shares of stock held by such delinquent stockholder therein be sold by the President at Public Auction at some certain time and place to be designated in such order, to the highest bidder for cash; provided, however, thai notice of such sale shall be published in some public newspaper published in Fort Collins, and provided further that the proceeds of any such sale over and above the amount due on such share or shares for delinquent assess- ments, interest, expenses, and reasonable allorney fees incurred or paid by the company incident to such sale, shall be paid to the delinquent stock- holder. Each stockholder shall be liable to pay all interest, costs, expenses and reasonable allorney fees paid or incurred by the company with regard to efforts to collect any delinquent stock assessments and the interest thereon. The perpetual lien for assessment provided for by C,R.S. 7-42-104 shall be prior in right to any other lien, voluntary or involuntary, and however created, against the stock assessed. XIII. NOTICE OF ASSESSMENTS The Secretary shall, as early as possible after the same is levied, norify each stockholder of his or her assessment and demand payment thereof. Notice shall be made by delivery to each stockholder, either personally or by depositing in the post office such wrillen notice and demand, properly stamped, and addressed to the place last known to be the residence of such stockholder according to North Poudre records. The stockholder shall furnish any changes of address to North Poudre in writing. XIV. AMENDMENTS TO BY-LAWS These By-laws may be amended at any meeting of the Board of Direc- tors by a majority vote of the full Board. XV. PARK CREEK The Park Creek Dam was constructed by the North Poudre Irrigation Company with an outlet that makes it possible for the Company to deliver water from Park Creek Dam to a supplier of domestic water. The potential to deliver water from Park Creek Dam (or domestic purposes is a valuable asset o( The North Poudre Irrigalion Company, and The North Poudre Irrigation Company intends to receive fair and reasonable compensation for the delivery o( any water (rom Park Creek Reservoir (or domestic pur- poses. Any delivery of water (rom Park Creek for domestic purposes shall be only on such terms and conditions as The North Poudre Irrigation Com. pany approves after taking into consideration the expense of constructing and paying for the Park Creek Dam. Accordingly, no individual stockholder o~ stockholders shall be allowed to receive water for domestic purposes d.lfectly from Park Cree.k Dam or at any point where delivery is made pos. Sible because of the eXistence of Park Creek Dam. Nothing in this By-law shall prevent the delivery of water for irrigation purposes. 10 This By-law is further enacted to protect the Company from any claim which might be made by the Northern Colorado Water Conservancy Dis- trict, it being the Company's present understanding that the Northern Colorado Water Conservancy District may contend that The North Poudre Irrigation Company cannot receive water for $1.50 per acre-foot unit if it supplies water for domestic use. (4-7-71) XVI. APPLICATION FOR A HEADGATE No applications for a headgate will be accepted unless ten shares of stock or more are owned and water for said shares is delivered through the proposed headgate and measuring device, This By-Law does not require the Company to approve a headgate even if ten shares or more are involved but shall serve as a general guideline. (7/3/71) XVII. INDEMNIFICATION The North Poudre Irrigation Company shall indemnify all present and future Directors, officers and other employees of the company from liability incurred by reason of the performance of their official duties on behalf of Ihe North Poudre Irrigation Company and pay all reasonable fees, costs and expenses incurred with the authority of such attorney in defending legal action in which liability by reason of the performance of such official duties is alleged against such Directors, officers and employees, provided, however, that i( in the judgment of the Board of Directors o( the Company the director, officer, or employee is guilty of will(ul or wanton misconduct, will(ul or wanton neglect of duty, intentional injury, or criminal act, any o( which is essenlialto such asserted liability, there shall be no such in. demnity or payment of legal fees, costs or expenses~ Any Director served with any process in any action, suit or proceeding shall immediately notify the Company and furnish copies of all papers served upon him or her if a Director claims or may claim that the Company must indemnify him or her as herein provided. The allegations of any action, suit or proceeding shall in the first instance determine the Company's obligation hereunder but Ihere shall be no Iiabilily in the event there is a judgment in the Court having jurisdiction in which it is determined that there were acts or omissions which constitute will(ul or wanton misconduct, willful or wanton neglect of duties, intentional injury, or a criminal act. (3-6.74) XVIII. The following shall be a By-law effective immediately governing deliv- ery of any water within the North Poudre system, namely, that no water shall be delivered for replac{'ment water for any land not irrigated through the North Poudre system of ditches and reservoirs nor shall water from the North Poudre System be delivered where it can be used for replace- ment water for wells not under the North Poudre system. 11