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<br />ARTICLES OF INCORPORATION <br />OF <br />GOODMAN POINT WATER ASSOCIATION <br />A Non-Profit Association <br /> <br />Page 1 of 3 <br /> <br />KNOW ALL PERSONS BY THESE PRESENTS, that we, the undersigned, all <br />residents of the County of Montezuma, State of Colorado, have, and do hereby, <br />associate ourselves together for the purpose of forming and becoming a body, not <br />for profit or pecuniary gain, under and by virtue of and in accordance with the <br />provisions of Articles 20 through 29 of the Colorado Non-Profit Corporation Act, <br />and we do hereby make, execute, acknowledge and adopt the following articles for <br />such corporation, existing expressly for community development (Development <br />Corporation). <br /> <br />FIRST: The Association name shall be Goodman Point Water Association. <br /> <br />SECOND: The term for which this Association is organized is perpetual. <br />The death, removal, or resignation of any member of this Association <br />shall not result in the dissolution of this Association. <br /> <br />THIRD: The objects and purposes for which this Association is formed and <br />incorporated is as follows: <br /> <br />a. To acquire by purchase, lease, contract, or otherwise a water supply system; and <br />to own or acquire property, either real or personal, which may be necessary for, <br />and incidental to the acquisition of supply, delivery, and sale of domestic and/or <br />commercial water to rural property owners in the Goodman Point area of <br />Montezuma County in the State of Colorado, and to do and conduct such <br />business as shall be deemed prudent and practical therefore by the members, <br />officers, and directors of this Association. <br /> <br />b. To make and enter into contracts and loans, and to conduct any lawful business <br />whatsoever, and to do and transact any business not prohibited by law for an <br />Association to do and perform when organized under the Colorado Statutes for <br />a non-profit corporation, except that all such activities shall relate directly to the <br />Objects and Purposes of this Association stated above. <br /> <br />c. To borrow money, either with or without giving security therefore, and to loan <br />money, either with or without taking security therefore. <br /> <br />FOURTH: The Board of Directors shall have the sole authority to make, adopt, <br />and set, the standards, policies, and regulations concerning the construction and <br />operation of the system and the delivery of water. It is anticipated that the system <br />will be constructed by, and maintained by Montezuma Water Company via long <br />