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STOCK ASSIGNMENT <br />For value received, C. R: Evans, hereby sells, assigns and transfers 500 <br />shares of stock of The Excelsior Irrigating Company unto the Co~ow~,~o <br />WATER CONSERVATION BOARD, which stock is standing in the name of the <br />undersigned on the books and records of the company represented by <br />Certificate No. 9, and do hereby irrevocably constitute and appoint <br />as attorney-in-fact <br />to transfer the said stock on the books of the company with full power of <br />substitution in the premises. This Stock Assignment shall be effective <br />solely in the event of an issuance by a Colorado District Court of an order <br />authorizing a foreclosure sale of said shares of stock pursuant to Rule <br />120 of the Colorado Rules of Civil Procedure. <br />Dated November 20, 2003 <br />C.-2, ~ <br />C. R. Evans <br />Appendix 4 to Loan Contract C153748 Amendment No. 2 <br />