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BY -LAWS <br />TWENTY TWO ROAD LATERAL COMPANY <br />ARTICLE I — NAME OF ORGANIZATION <br />SECTION 1— The name of this organization shall be the TWENTY TWO ROAD LATERAL COMPANY. <br />Located between J Road and H Road, parallel to 22 Road, Mesa County, Grand Junction, <br />Colorado. <br />ARTICLE Il — PURPOSE <br />SECTION 1- The purpose of which this company is organized shall be for the management of the <br />lateral for the land owners who depend on water for their properties under the ditch. <br />SECTION 2 - To build, construct, maintain, repair, clean and manage a ditch in of the best interests of <br />the land owners who have property and water shares in the Grand Valley Main Line <br />Canal and who have either participated in the original cost or have purchased property <br />with water rights in the present lateral. <br />SECTION 3 - Members shall consist of property owners in good standing, who own water shares in <br />the Grand Valley Main Line Canal and who have either participated in the original cost <br />or purchased property with water rights in the existing lateral <br />ARTICLE III — OFFICERS <br />SECTION 1- The affairs of the organization shall be managed by an Executive Board consisting of <br />elected officers consisting of President, Secretary and Treasurer. <br />SECTION 2 - In the event of an absence of the President, the Treasurer will act as President. In the <br />case of permanent absence, the office of President will be filled immediately by an <br />election from the members. Any vacancy during the term of an Executive Board <br />Member will be filled by the Executive Board appointing a replacement to serve until <br />the next Annual Meeting. <br />SECTION 3 - The Executive Board shall not be personally liable for the debts, liabilities, or other <br />obligations of the Company. <br />SECTION 4 - The Executive Board shall govern the operation, maintenance and repair of the lateral <br />and will arbitrate any dispute that may arise concerning the lateral. The Executive Board <br />will determine the amount of assessments due each year, and such amount will be put <br />to a vote of the membership at the Annual Meeting. <br />