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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~oRa~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- <br />in-fact to transfer the said stock on the books of the company with full <br />power of substitution in the premises. This Stock Assignment shall be <br />effective solely in the event of an issuance by a Colorado District Court <br />of an order authorizing a foreclosure sale of said shares of stock <br />pursuant to Rule 120 of the Colorado Rules of Civil Procedure. <br />Dated November 20, 2003 <br />~.~?- ~ <br />C. R. Evans <br />Appendix 4 to Loan Contract C153797 Amendment No. 2 <br />