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B. To use the yield from said water rights, consisting of shares of Grand Valley Irrigation <br />Company, for the benefit of the shareholders who own the rights to its use for all <br />beneficial purposes recognized by law. <br />C. To furnish and distribute to all shareholders their pro rata share of each year's net <br />annual yield of water produced in the exercise of the water rights managed by the <br />Company. <br />D. To do all and everything necessary, suitable, or proper for the accomplishment of <br />management of the lateral. <br />The enumeration of any specific purpose shall not be construed to limit or restrict in any <br />manner the general rights of the corporation as provided by law, nor shall the expression <br />of one purpose be determined to exclude another. <br />Article IV <br />Principle Office <br />The Company's principle office shall be: c/o Rocky Mountain Sanitation, 72123 Road, <br />Grand Junction, CO 81505. <br />Article V <br />Powers <br />In furtherance of its purposes but not otherwise, the Company shall have the following <br />powers: <br />A. All of the powers and privileges conferred upon nonprofit corporations and mutual <br />ditch companies by the common law and the statues of the State of Colorado in effect <br />from time to time. <br />B. All the powers necessary, suitable, proper or desirable to perform the obligations and <br />duties and to exercise the rights and powers of the Company including, without <br />limitation, the following powers: <br />1. To make, in the manner prescribed by law, <br />Levied pin Baas watW *W the p v w ' <br />exP ate€iadeb Wafthe.0 arbClftandIV K306 <br />asses aamadirw 1a Cam hr. r <br />2. The right under law talillowilenw,4m watersl - - h iet's t for any and all <br />dues or assessments duly levied until the same shall be fully paid. <br />