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<br /> <br />shall satisfy themselves" in the manner ana pursuant to sllch pro- <br />vision as may be reade therefor or be satisfactory to said court, <br />of the identity of the owner applying for or demanding the issu- <br />ance of such stock, the number of acres for which such owner owns <br />a right to the use of water for irrigation and dowestic purposes <br />from the Company's irrigation system, the cescription of the <br />lands on which such water right is now located and used, the <br />names and addresses of any holder or holders of encumbrances or <br />liens on or against the name, which sholl be recognized and con- <br />tinued against any such stock, in order to protect the holder or <br />owner of such encumbrances or liens to the sawe extent as his <br />claim or rights are now recognized and ,covered by such encum- <br />brances or liens, ane in such manner as way be deemed sufficient <br />and satisfactory to said Court. <br /> <br />, <br />~, <br />i <br /> <br />No such stock shall be so issued until the owner of the <br />water right for which same is to be so issued shall ~ave executed <br />and del i vered to the Cowpany, in a forw to' be approved by the <br />Board of Directors and deemed sufficient by the said Court, a <br />conveyance of all his right, title and interest in and to such <br />water right for which stock in the cowpany shall be so exchanged, <br />which conveyance shall constitute a surrender of all the right, <br />ti tIe and interest of such owner in such water right under the <br />contract or deed executed by the Arkansas valley Sugar Feet ane <br />Irrigated Land Company, or one of its preoecessors in ownership <br />and' interest of the ir r igation systew owned by th is Cowpany, to <br />such owner or to his immediate or mediate grantors, and to the <br />end; that the shares of stock of this Company issued to such owner <br />shall constitute the sole and only right of such stockholder to <br />receive water for irrigation and domestic purposes for the lands <br />owned by him entitled to water from the irrigation system of the <br />Company. <br />'f, <br /> <br />". <br /> <br />1, Section 5 That each share of the capital stock of the <br />Company shall entitle the owner thereof to water for irrigation <br />or domestic purposes from the irrigation system of the Company <br />from all water diverted by the Company and available for distri- <br />bution during each irrigation season from April 1st to September <br />30th of each year, to be delivered so far as such available <br />supply will permit, to a maximum amount. of 1.85 acre feet per <br />acre, if that amount of water be necessary for the proper irri- <br />gation of said lands, and of .7 an acre foot of water to be so <br />delivered, if that amount be necessary for the pr~pe~ irrigation <br />of said land and weather and other conditions 'permit of its <br />del i very dur ing' the w inter months or non- ir r iga tion season, from <br />September 30th to April 1st of each year, the distribution of all <br />water available for the uses and purposes of the stockholders of <br />the Company to the stockholders to be based upon the above,speci- <br />fied maximum quantity of water to be deliverec on the land to be <br />irrigated, as nearly as conditions will permit, at(a'pportune <br />times, bearing in mind the needs of the stockholders for the <br />irrigation of crops ana the supply of water aV3ilable for distri- <br />bution among the stockholders for that purpose. <br /> <br />Page 2 <br />