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ARTICLE IX CERTIFICATES FOR SHARES AND THEIR TRANSFER 9.1 REGULATION The Be d f . and regulations as itma deear 0 D~:ectors may make such rules transfer and registratIon ~fapproi:~~teconcerning the issuance Corporation. cer ~ ~cates for shares of th~ 9.2 CERTIFICATES FOR SHARES h shall contain a margin opposite t T ehbook ~f.stock certificates be noted the number of the cert.~.ea~ cert~f~cate on which shall shares. and the name of the ers~ ~ca e. ";he date. the number of the certificate issued. p on to whom ~ssued. corresponding to . Certificates representin h respectively numbered seriall~ b: ~~e~ of ~he Corporation shall be shares. or series thereof a thg n~ng.w~th 100 for each class of with the corporate seal or'a ~acs7y.~rethssued. shall be impressed by ~he' President or a Vice presi~~ ~ .~re~f. and shall be signed Ass~stant secretary. en an y the Secretary or an. Each certificate shall stat th fact that the Co oration' e 7 name?f the Corporation. the ~aws of thesta~ of col~~ad~rg~~~Zed or ~ncorporated under the ~ssued. the date of issue th e 1 name of the person to whom represented thereby and a st~teme~tC ~~St th~ ~umber of shares par .~lue: A statement of t a ~uc ~ ares are without ~all.f~cat~ons. limitations. restr~~t' des~g~at~on~. preferences. r~ghts.of the shares of each class s~o~~ ~n spec~al 0: relative summar~zed and attached to the ce . . a e se"; forth III full or shall issue. Each certificate sh~tf~cat~~ w~~ch.the Corporation may be prescribed by the B d f . e 0 erw~se ~n such form as the rules for ditch compani:~ i~ t~~r~~t~rs ;nd as shall conform to .T~e Corporation shall collect a~ e? Colorado cert~f~cates issued prior to May 14 19~1 ~ss~ed and. outstanding thereof.ne~ certificates representing the' an s~all ~ssue in lieu the ex~st~ng certificate so delivered t s~he s ares of stock as shareholder shall prior to A'l 0 e Corporat~on. Each Corporation's secretary each cert~~~ 1. 1992. deliver to the When the.certificate or certifica~e~ca~e ~ed by such ,shareholder. Corporat~on secretary the C a~e en so del~vered to the certificate in the id~tical n~rporat~on shall issue a new forthwith cancel the former cert.e: and cla~s of shares and shall completed by May 1 1992 S ~f~cate hav~ng these transactions existing certificat~s to 'th h~reholde:s who have not delivered 1992. shall be deemed the ~wne~rporat~on secretary by April 1. CERTIFICATES as set forth' s of LOST. STOLEN OR DESTROYED required to replace such ce~ifl~~~~a~~ 9.5.J:lelow and shall be lost. 'stolen or destroyed certificates. prov~ded hereinbelow for than ~e:n~~~~:tt~~)s~~~e~~t issue certificates representing less 9.3. WATER RIGHTS AND CARRYI" shal~ r7pre:;ent a proportionate :o~~H.~S. Each share of stock any ~rr~gat~on season as that sh f..f the water ava~lable for . . are 0 stock bears to the total .. -11- fY\e<jol ":::J number of outstanding shares of stock and in addition thereto will represent a carrying right for said water. Ditch Number Eighty~seven (87) priority Number Ninety-eight (98) dated ~~ [one M..~.j'0ot per second] equals fifty (oSIH _bQ....ooSl. Ditch Number Eighty-seven (87) Priority Number One hundred thirty-five (135) date~~<9>':'"""'I,'6~ [nine 4-9J-~",,E,eet per second] equals four hundred and fifty (-t&~r-sA~~. Ditch Number Eighty-seven (87) Priority Number One hundred seventy-one (171) dated .~ leas [sixteen i~"cub-i-c,.Lee:t. per second] equals eight hundred~o.)~ 9.4 CANCELLATION OF CERTIFICATES. All certificates surrendered to the Corporation for transfer shall be cancelled and no new certificates shall be issued in lieu thereof until the former certificate for a like number of shares shall have been surrendered and cancelled. except as herein provided with respect to lost. stolen or destroyed certificates. 9.5 LOST. STOLEN OR DESTROYED CERTIFICATES. Any owner of shares. as shown by the records said corporation organized and existing under the laws of the state of Colorado. entitling. the Shareholder to the services of this ditch or to the use of water subject to the payment of assessments. or the legal representative or assignee ~f any such Shareholder. whose stock certificate has been lost, mislaid. or destroyed. may have a duplicate certificate issued in accordance with 9.6 through 9.9. 9.6 STATEMENT OF LOSS. If more than three years have elapsed since such Shareholder. legal representative. or assignee has notified the corporation that such certificate has been lost. mislaid. or destroyed. and such Shareholder. legal representative or assignee has paid all assessments levied by said corporation against such stock since such notification. ~the Shareholder or his ~egal representative or assignee may file with the Secretary of said corporation a statement 'under oath that the certificate of stock has been lost. mislaid. or destroyed and that the certificate is the property of the person making such statement and. has not been transferred or hypothecated by him. and demand the issuance of a.duplicate certificate in accordance with 9.6 through 9.9 9.7 PUBLICATION OF NOTICE OF DEMAND. Upon receipt of such demand. the corporation shall publish. at the expense of the person making such demand. at least once a week for five successive weeks. the fifth publication being on the twenty-eighth day after the first publication. in a newspaper of general circulation in the county in which the principal office of the Corporation is located or. if there is no newspaper in such county. then in such a newspaper of an adjoining county. a notice that such a demand has been filed with the corporation in accordance with the terms of cas sections 7-42-114 to 7-42-117 setting forth such demand in full and stating that said corporation will issue. on or after a date therein stated. following the last publication of said notice by at "least thirty days. a duplicate certificate to the registered owner or his legal representative or assignee unless a contrary claim is -12-