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From: 07/10/2007 07:01 4102 P.011/012 <br /> • <br /> the Board of Directors that no injury or damage shall occur to the Company-s facilities.the Company or • <br /> other shareholders. <br /> • <br /> Any shareholders desiring to sell, lease. or convey water represented by Company shares or to permanently <br /> change the point of delivery with regard to any water to which he may be entitled, shall make written • <br /> • request therefore to the Board of Directors. The Board of Directors shall have the sole, absolute and final <br /> discretion to make or enter any appropriate orders with. regard to any request so made provided that all <br /> shareholders of the Company shall be duly notilied of any such request and that a hearing shall be held • <br /> before the Board of Directors which shall be open to any and all shareholders of the Company. In the event • <br /> that the Board of Directors in making any determination as provided herein shall require legal and/or <br /> engineering services for the purposes of making such determination, the costs of all legal and engineering • <br /> • services shall be paid by the shareholder makin!s such request and the Board of Directors may require that <br /> the estimated costs thereof be paid to the Company prior to engaging such services by the Board of• <br /> Directors. In such event the Board of Directors. may without penalty or liability. defer any such <br /> determination until such condition has been met." <br /> • <br /> • <br /> Section(i. Sealing pits may be constructed within the right of ways along company canals and ditches, <br /> but only in such proximity to the canal or ditch as not to endanger the canal or ditch bank. The location of • <br /> such pits shall be approved by the company manager prior to installation. <br /> Section 7. Flo dams or obstructions orally kind will be allowed in the company's canals.except under <br /> the supervision and direction of the General Manager. <br /> Section S. In case the company's canals or ditches shall be unable to carry and distribute a volume of <br /> water equal to the estimated capacity.either from casual or unforeseen or unavoidable accident.or if the . • <br /> volume of water prove insufficient from drought.or from any other cause beyond the control of said • <br /> company.the company shall not be liable in any way for shortness or deficiency or inadequacy of supply <br /> occasioned by any of said causes:nor shalt the company be liable. in any case. for loss or damai:e by reasi.ur <br /> of any leakage.seepage or overflow from any of the canals. ditches. laterals or reservoirs. anything in any • <br /> statute. law or custom to the contrary notwithstanding. <br /> Section 9. If by reason of any cause the supply of water shall be insufficient to till or flow through the <br /> company's canals or ditches according to the estimated capacity thereof.or if from any cause beyond the <br /> control of the company the supply shalt be insufficient to furnish the amount equal to all the water to be <br /> ti►ntished for that year.the company shall have the right to distribute such water on a pro rata basis to the <br /> Class A stockholders as may flow through the canals or ditches to all Class A stockholders entitled thereto: <br /> and. for the purpose of so doing. may establish and enforce such rules aid regulations as may be deemed <br /> necessary or expedient. <br /> Section 10. The Board of Directors shall have the power to make and enforce such additional <br /> reasonable rules and regulations for the carriage and distribution ofwater as may in their judgment be <br /> necessary and proper. <br /> Section 11. Any part of any canal or lateral of the company which lies within the inco►porated City of <br /> Cortez, Colorado may be abandoned providing the City of Cortez shall assume the obligation of delivery of <br /> • water to stockholders under such ditch proposed or sought to be abandoned. Any deliveries made by such <br /> substituted delivery shall be made through a measuring device so as to insure to the company and all of its <br /> stockholders an equitable distribution of available water. If deliveries are made through a pipeline of the <br /> City of Cortez.the company shall pay the cost.incident to the installation of the meter or measuring device <br /> and such measuring device shall remain the property of the company. <br /> Section 12. The right of Class B stock to the delivery of water is junior to the right of Class A stock and <br /> Class B stock shall be shorted before Class A stock is shorted. but any shortage assigned the Class B stock <br /> shall not exceed the percentage shortage experienced by the Dolores Project's Full Service irrigators. <br /> MVIC Bylaws I 1 Revised: June 14..2005 <br />