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LAW OFFICES OF <br /> FOWLER, SCHIMBERG sc FLANAGAN <br /> DANIEL M.FOWLER' PROFESSIONAL CORPORATION AFFILIATED OFFICE: <br /> TIMOTHY P.SCHIMBERG 1640 GRANT STREET <br /> PAUL J.TADDUNE,P.C. <br /> TIMOTHY J.FLANAGAN/2 DENVER,COLORADO 80203 323 WEST MAIN,SUITE 301 <br /> JEFFERY B.STALDER TELEPHONE:(303)298-8603 ASPEN,COLORADO 81611 <br /> ADAM B.LINTON TELEFAX:(303)298-8748 TELEPHONE:(970)925-9190 <br /> ANDREW R. MCLETCHIE INTERNET:LAWFIRM @FSF-LAW.COM TELEFAX:(970)925-9199 <br /> BRIAN E.WIDMANN <br /> ANDREA M.BRONSON <br /> MAX S.GAD <br /> I ALSO ADMITTED IN WYOMING <br /> 2 ALSO ADMITTED IN WYOMING AND MONTANA <br /> January 28, 2014 <br /> Peg Mason, Contracts Manager <br /> Finance &Administration Section <br /> Colorado Water Conservation Board <br /> Department of Natural Resources <br /> 1580 Logan Street, Suite 600 <br /> Denver, CO 80203 <br /> Re: CWCB-Wadley Farms Filing No. 3 Homeowners' Association <br /> Contract No. C150379 <br /> Dear Ms. Mason: <br /> In accordance with the requirements of¶A.7 in Loan Contract No. C150379, on behalf of <br /> my client, the Borrower (Wadley Farms Filing No. 3 Homeowners' Association), I wanted to <br /> advise you that in my opinion: <br /> A. The Contract has been duly executed by officers of the Borrower who are <br /> duly elected and are authorized to execute the Contract and to bind the <br /> Borrower; <br /> B. The resolution of the Borrower authorizing the execution and delivery of <br /> the Contract was adopted by the Borrower's Board of Directors at a <br /> regular meeting on January 25, 2014; <br /> C. There are no provisions in the Borrowers Articles of Incorporation or <br /> Bylaws, or any state or local law that prevent this contract from binding <br /> the Borrower; and <br /> D. The Contract will be valid and binding against the Borrower if entered into <br /> by the CWCB. <br />