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:>r.i.d 1~~.r i.:~c: of one (.l) year from the data c+F dc~1.;.ra}uc:ney, a:aid r:hacfr: s of stock shall be sold by the Corporation; and the: l,roceeds of such s<i.le shall be applied in payment of such dclinyuent assessment, plus ttre amount o{ interest due thereon; and the cost of said sale, and an~• amount over and above the total amounk oL• ::aid assessment, intores:t acrd costs shall be paid to the delinquent stockholder. Said irotice of assessment shall also provide that if paymer` i o[ the amount of assessment is not made within sixty (GO) days of tlrs date of mailing of said notice, said payment shall becume daliiiyuant; wind the P.oard of Directors, thereafter, in its discretion shall havi~ tlr;~ po:a~r, without furt-h~r na~ice to the del:inyuent stockholder until th~_ dat•~ of payment by the stockholder to th~• Corporation of the <t~nount of the delinquent assessment, plus interest: on said amount at ttre rate of tt~elve percent (12~) per annum from the date said assrssnr~::r. l,~came delinquent and/or to conunence a cavil action in the na«:e ut• L•he Corporation against the delinquent stockholder fur the aurounL• o~ the assessment, plus interest and costs of such action, in~lucling reasonable attorney's fees. 11RTICLE VI Seal The corporate seal shall consist of thN words "I•:ast i'or:: i•lutual IrriyatiOn Company" and "Colorado" in the fo!-rr of a circle s~rrrounding the word "Seal". ARTICLI; VIt ilra~ndm-_nt or Rerx.al oL l3•~1 ~w:~ 'Phase Bylaws .nay be amend~.1 or repeals--rl by the voic of a;~l,co.~.:!. ~ :1 L::2~'~t'ity Oi the: l:o:~r{l hf D7.reC.tOr3, ~~t•~Y.~Lil?Cl ~'tlill-. n•=~r.i,".` :)~ r-u:: proposal to so amend or repeal small be included in the notice: of tli:: meeting of the f;oarcl of Directors at which such action is proi,osecl t:~~ be taken. Tl~e above Bylaws are approved and adopted by the Board oP