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Corporation, except as follows: <br />(a) If any Shareholder desires to transfer his/her shares, <br />or any portion thereof, to any person who is not either (1) <br />a Shareholder of the Corporation, or (2) the Shareholder's <br />successor in the interest and title to the real property of <br />the Shareholder which lies along and/or under the Ditch, <br />such Shareholder shall first submit to the Corporation <br />satisfactory evidence of the terms on which the proposed <br />transfer is to take place, including but not limited to the <br />terms of any offer to purchase such shares by such third <br />person, the price agreed to be paid therefore, and proof of <br />land ownership along the Riverside Ditch and Allen <br />Extension. <br />(b) No shares shall be transferred to any person other <br />than the Corporation itself or the Shareholders of the <br />Corporation until the Corporation and each of the <br />Shareholders has been afforded an opportunity to <br />purchase such shares and shall have declined to do so. <br />ARTICLE X <br />ASSESSMENTS <br />10.1 LEVY OF ASSESSMENTS. The Board of Directors shall <br />recommend to the stockholders at their annual meeting the <br />amount of assessments to be levied for the ensuing irrigation <br />for the operation, maintenance, repair, rehabilitation, and <br />construction of the irrigation system, and the assessment wl�l <br />not become effective unless approved by a majority of the stoc�C <br />issued-� and outstanding represented either in person or by <br />proxy at said meeting, provided, however, that should the <br />stockholders fail to make or authorize such assessm�nts by th� <br />first of April in any year, then the Board of Directors shall have <br />the pc�wer to make any assessment at any regular or special <br />meeting. TF�e assessment will be levied against each <br />shareholder in that proportion which the number of shares held <br />by him bears to the total number of shares outstanding. <br />The stockholders of record on the books of the <br />Corporation shall be entitled to at least ten (10) day's notice of <br />the levy of any such assessment, to be given prior to the time of <br />20 <br />