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monthly basis beginning the month following the first accrual of <br />such credits. Shareholders shall be notified of available credits by <br />the Company. (Ratified 1-7-OS) <br />SECTION 10: To the extent that Shareholders desire to use water <br />deliverable to them as a result of ownership of shares in the <br />Company for purposes other than direct flow irrigation, including <br />returning the water to the South Platte River for augmentation, <br />exchange or replacement purposes or recharging the water into the <br />aquifier, the following procedures shall apply: <br />A. The location and plans and specifications for the diversion <br />of the water out of the ditch must be approved prior to <br />construction by the Company and the facilities inspected <br />and accepted by the Company after completion, pursuant <br />to sections 2 and 3 above. <br />B. All diversions out of the ditch must be measured using <br />devices approved by the Company prior to installation. <br />C. There shall be a one-time fee of $150 per share for every <br />share approved by the Water Court for changed uses, <br />payable to the Company upon entry of the decree. The <br />purpose of this fee is to reimburse the Company for its <br />expenses in developing policies to apply to shares being <br />used for changed uses and to protect the Company's <br />interest in applications which seek to use the Company's <br />water rights for changed uses. The fee for changing share <br />may be adjusted periodically by the Board of Directors. <br />D. Article V, Section 10 applies only to shares decreed for <br />uses other than irrigation after the effective date of this <br />bylaw. (Ratified 1-7-OS) (Amended 1-21-06) (Amended <br />1-11-08) <br />11 <br />