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<br />Section 3. Lo::t Certificates. In case oL• the loss or dcstruc:- <br />tion o1 a :;lock certificate, tha lawful o;over thereof may haver issued <br />to him a duplicate certificate thereof in accordance with the law:: <br />of Colorado in such case matte and provided. <br />ARTICLE V <br />Scrction 1. Deposit. The moneys of the Corporation shall <br />be deposited in the name of the Corporation in such bank or banks <br />as the Board of Directors shall designate and shall be drawn out only <br />by chec}: signed by two persons designated by resolution of the l:~acd <br />e` Directors. On;: of said parsons shall bo an ofF.iccr of th•-! Corporation <br /><lnd t:he other Head not ba. <br />Section 2. Fiscal Year. The fiscal year of the Co.rpu:at.iun <br />shall L,eJin on L-he lst.• clay of January ar-cl Cr!cl on the 31st day o` December <br />of eaQh ye,!r, unless othcra~ise provideu by the CoarQ of Uiractor.~. <br />Sectior- 3. First Assessment. The first ass~ssa!erlt shall <br />he an ar!ount sufkicient, wt!~n combined ;pith the amount guaranteed <br />L,y th,~ l~ntling or fin.!r.ciu~J .instil:ulion, to ;:dual tho cosE c;i` c.?:'!n;t:r:•;!ct:.u, <br />o[ U!n T:ac;t: fork Ditcil Projc:aL-, includ.inq c~a~cu!s:ion of th^ Carlson <br />Ditch and a).1 incidental cos~.s. The Company shall advzrtise the llroj2ct <br />[or a p.rriod of two (2) weE:n3 in Crand County newspapars anil Flt L:rast <br />Duce in t!:o (2) Colorado nawsp;~pers that are rli:;tributwl wid•~ly to <br />the car!:;truction industry. Prior to bid acccpt~~nc~, the Company si!:cll <br />assess it=!~-;1 of its share:!olders un a pro rata b~~s.is, dei:errnir!~d l,y <br />the number of shares of sloe]:, the amount necusr;~-!.r.y when a_',d-:Cl to <br />t:hcr anux!at guaranteed L,y thir len~lin~1 ur fi.nancing .in:ait!alion to cy~!aa. <br />the antic:i[,ated cost of the projoct. The. zrs,cer:tic,•ents abovr. refcrrru <br />In ;~.i.l.l b~_• deposiited ~.n an cescrow acco!u1C in ..ln: Lank of Kremmli!!~l <br />!:.ith tL~ l,rcavision that .iL LLc~ total a,aount aa~~:;s:ed is not ~lcpo::it_fl <br />by tha shrlreholders wi.•..hin teen (].0? days oL the !ate of as;r:!s.me,e'., <br />then the rnoney so deposited will be rc.fundecl to the respective sharehol- <br />ders. Any sharekcolder who tails to pay his assessment within ten <br />- 7 - <br /> <br />