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10- 1-03; 10:25AM;ANDERSON CHAPIN PC ;970+842+5563 # 23/ 26 proper, for the proper discharge of their several duties, and shall approve all such bonds. Sec. 6. The first meeting of any newly elected Board of Directors shall be held promptly after adjournment of stockholders meeting. Regular monthly meetings of the Board of Directors shall be held at 308 Clayton Street, City ot Brush, County of Morgan, State of Colorado, on call of the President or any director. A1: any regular meeting, or special meeting held pursuant to call, two Directors shall constitute a quorum. A special meeting without call shall be valid provided three Directors are present. Called special meetings may be held at any time on call of any Director, provided three days notice thereof be given by mail. Sec. 7. All vacancies occurring in the Board of Directors occassioned by death, resignation, disqualification or otherwise, shall be filled by a vote of a majority of the remaining members of the Board. ARTICLE VIr Officers Sec. 1. The President shall be the chief executive officer of the company. He shall sign all official papers and documents of the company, preside at all meetings of the Board of Directors and of the stockholders; have general supervision of the business of the company and of its officers, and attend to all such other duties as the Board of Directors may authorize. He shall vote at lneetings of the Board o~ Directors the same as any other mE~mber. Sec. 2. The Secretary shall keep a record of the proceedings of the Board of Direc"tors and the company, and shall act as recording secretary at ~ll meetings of the stockholders, shall keep the stock book and seal of the company; shall attest by his sign,~ture and the seal of the company all official documents and certificates of stock issued; shall be the custodian of all bonds, notes, documents -7-