PROJ02111

• Contract/PO #: C150066
• Contractor Name: Tilton Lateral, Inc.
• Contract Type: Loan
• Water District: 0
• County: Mesa
• Loan Projects - Doc Type: Feasibility Study

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1. Beginning aLa point. on the main ditch which is located on the
South side of North Avenue; Then west to Harmony Road, then South
to the waste ditch.
2. Beginning at a point on the main ditch which is located on the
South side'oftheD & 'RGWrailroad'right;"of-way; Then west along the
railroad ~ight-of-way~to the property whose~addressis 2916 D 1/2
Road, then south to the drainage ditch.
3. Beginning at the end of the main ditch on the North side of
'D '1/2 Road; . then! southuhder ,D 1/2 Road; then West along the South
side of D '112 ROad}tolthe~MesaCountyDitch~
4. Beginning at ':theend >of the main ditch on the North side of
D 1/2 Road; then South under D 1/~ Road; continuing sout~ to D road.

Section 2. INCLUSION OF NEW AREA. Any other portion of the ditch serving
the area >mayapply.to (the corporation for " inclusion for maintenance and
operation after said ditch';hasbeen installed to the specification of the
,corporation. and.. must;servemorethan one(1) property owner. The
inclusion shall "be approved by ,the Board of Directors and a majority of
the stockholders present at a special meeting or annual stockholder
meeting .'

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ARTICLE IV. GENERAL POWERS: The Board of Directors shall have the following
powers:
a. L The Board will determine :ithe'amountof . assessments due each year by
each shareholder 'at a 'meeting to be held within ninety (90) days of the
end of the fiscal year;
b.TheBoarashall govern' the operation, maintenance and repair of the
TILTON LATERAL 'DITCH SYSTEM'as definedin:Article III;
c. The Board shall, arbi trate' ,any dispute that may arise 'concerning the
operation; maintenance and repair of said ditch system;
d. 'The Board shall have the power "with the approval of the shareholders,
to hire a ditch rider if it becomes necessary.

ARTICLE V. CONTRACTS, 'LOANS, CHECKS AND DEPOSITS
Section 1. CONTRACTS: The Board of Directors may authorize any officer
or officers, agent or agents, to enter into any contractor execute and
deliver any instrument in the name of and on behalf of the corporation and
~uch authority may be general or confined to specific instances.

Section 2. LOADS: No loans shall be contracted on behalf of the
corporation and nor evidence of indebtedness shall be issued in its name
unless authorized by a resolution of the Board of Directors. Such
authority may be general or confined ,to specific instances.

Section 3., CHECKS, DRAFTS, E'l'C: All checks, drafts or other orders for
the payment of money, notes or other evidences of indebtedness issued in
the name of the corporation shall be signed by such officer or officers,
agent or agents or the corporation in such manner as shall from time to
time be determined by resolution of the Board of Directors.

Section 4. DEPOSITS: All funds of the corporation not otherwise employed
shall be deposited from time to time to the credit of the corporation in
such banks, trust companies or other depositories as the Board of Directors
may select.

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