PROJ01903 ‎(2)‎

• Contract/PO #: C150162
• Contractor Name: Johnson and Edwards Ditch Company
• Contract Type: Loan
• Water District: 0
• Loan Projects - Doc Type: Feasibility Study

10- 1-03;10:25AM;ANOERSON CHAPIN PC

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BOOK 852r4GE 440

one hundred percent shall be given upon such transfer, provided

such water right shall be free and clear of all liens and

encumbrances against such water rights. The portion of such

subscriptions thus unpaid shall be subject to assessments for

repairs, superintendence and maintenance of the canal, and such

other claims as may be legally incurred on account of, and

for the benefit of such canal. The capital stock of this

Company shall be used only as a basis for assessment of, and the

division of water among the holders of its capital stock.

Only persons, associations and companies owning lands

situated below and susceptible of irrigation or domestic use

incidental thereto from the Johnson and Edwards Ditch Company

shall be eligible to become stockholders of the Company, by

transfer, sale or assignment of stock or otherwise. The

Board of Directors shall maintain at the office of the

Company a map depicting the aforesaid lands situated below

and susceptible of use from the Johnson and Edwards Ditch

Company. The water rights evidenced by shares of stock
issued by the Company shall only be used for irrigation or

domestic purposes incidental thereto on the aforesaid lands

situated below and susceptible of use from the Johnson and

Edwards Ditch company, All""existing owners of the Johnson

and Edwards Ditch of record, as of the date of the adoption

hereof, shall be deemed to qualify as eligible stockholders

under this section, and all actual, vested uses of water

made as of the date of adoption hereof shall be deemed to

,
qualify as irrigation or domestic use,s incidental thereto.)
NINTH: The corporation shall be, a mutual ditch company

operated for the mutual benefit of the holders of its capital

stock and not for pecuniary profit, aLnd no dividend shall be

paid on its capital stock except upon dissolution of the .

Company.
TENTH: The address of the initial registered office of

the corporation in Colorado is

308 c1ci.vt6ri Street '.Brl;lsh:" Co. a0723

and the name of its initial registered agent at such address

is

c ~ Anderson
ELEVENTH: Address of the principal office 308 r.]~yrnn ~r

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