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Bylaws of the Boulder and White Rock Ditch and Reservoir Company Page 4 of 6 <br />12.5 Reimbursement of Costs, or Change o Use. <br />The applicant for a change in use as described in Article 12.4 of these By-Laws, shall reimburse the <br />Company for all of its reasonable costs and expenses in connection therewith, including, but not limited <br />to, the following.• <br />a. Attorney's fees. <br />b. Engineering fees. <br />c. Court costs. <br />d. Additional fees and costs for the Ditch Superintendent to administer said changes. <br />e. Cost of measuring devices, additional or new headgates, division boxes, flumes and outlet <br />structures. <br />f. Storage and carrying fees and water to convert a direct flow water right into a storage <br />right to pay and compensate shareholders and the company for seepage, shrinkage, <br />evaporation, return flows, and additional maintenance. <br />g. Any other reasonable expenses that are necessitated by hearings, contract negotiations, <br />objections or protests to a water application and trials involving shares of the Company, so <br />that the owner of stock being changed does not cause a disproportionate burden on the <br />other shareholders' assessments or usage of water. <br />12.6 Minimum Number of Shares. No shareholder shall be entitled to transfer stock or have water <br />delivered to him if he owns less than one share of the Company. (The foregoing arcticles 12. S and 12.6 <br />were adopted by the Board of Directors on February 6, 1984) <br />. (The forgoing article <br />12. S was adopted by the Board of Directors on February 1, 1982 and subsequently replaced by the <br />Board of Directors with article 12.6 on February 6, 1984) <br />Article XIII -Assessments <br />All assessments shall be due and payable thirty days after notice has been mailed, and water shall not be <br />turned out on the order of any stockholder until his assessments shall have been paid. <br />Article XIV -Seal <br />The Company adopts as its corporate seal a circular disk with the words "THE BOULDER & WHITE <br />ROCK DITCH & RESERVOIR COMPANY" on the outer edge and the word "SEAL" in the center. <br />Article XV -Amendment of By-Laws <br />http://www.ditchcompany.com/bylawsbwr.html 10/1 /2008 <br />