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in thc next 18 m.onths. The economic recessiot� and crash took many buyers out of the <br />water market in 2007. Rivcrsidc grivate water rights sold for $80.Od0. Our t0 sh�res of <br />Riversidt anc# 1 shsre of Jackson would have yietded us $880,004• Rccently 3 sharas <br />scyld at auction €or 542,50U per shsr'e. Betv�+een ow' wate�' and legal fees wc could lasve <br />paid �1,020,OU0 on our aot�. <br />Aftcr thc rufing our bogrd had a hard time asking meml�ers who just fouud aut their welis <br />would ncver run sgain for an assessment to pay Iegal fees. Wc consulted wiih aur legt�l <br />counsel to sce if we cnuid scll whgt we cal%d tha Snaith Project, a wcll at thc rivr,r sAd <br />approx}mately 2000 feet of pipetine to aug pands to pay legal and engineeris� costa• �ur <br />cownsel told us this project was not secured by our note so v�►e suld 'this to cover cxpenacs. <br />M�ny of the best and brightest farmers in the State of Colorado were affected by th�s <br />decisian. The fate of many of our mcmi�ers xcads as an obituary: ba�vptcies, <br />fareclosures, off-farnn joba, zetizement gone. Only members that wells in OWW werc a <br />smali percentage af thcir operation are at�Ie ta enjoy these lugh comtncrditY prices. <br />{hu members £eet the same entity ftom engineers at Northern telling us aU we nead wss a <br />cauple of wells at river and an aug well miles away re�aying depletioa5 with pumFinB of <br />which at lesst'/s would nat be reps►d because of free river, to previous tvle of wells 1� <br />feet from, river being considered direct ftow when in priority to having a detay nced to be <br />replaced, to Judge's reversat of a decision poundin8 us into oblivion are all the sanna <br />entzty that loaned us the money — the Cmat State of Colora�ia. We feel the just thing to <br />do for the 8tate of Colorado is to eonsider intertst forbeararice &om 2007 until the <br />present. tWe believe even the State mislcad naYve citixens into investing a million dollars <br />into a pm,�ect destined for faiiure by tbe State. We wauld appreciate your consideration <br />far some help in interest rclief. <br />Sinccrel <br />...-- <br />� �� <br />Ssevc Bntn� <br />Pr�sident <br />Q�phan Wells of Wiggins <br />