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I�IND <br /> ��� I u r+r <br /> & OTIINHOFF, LLP Kenneth F.Lind <br /> Attorneys at Law George H.Ottenhof <br /> 355 Eastman Park Dr.,Ste.200' Windsor,CO 80550 Chrysten S.Hinze <br /> Telephone: (970)674-9888 • Fax: (970)674-9535 Jonathan E.Batt <br /> Email:gho@lolaw.us Special Counsel <br /> November 1,2012 <br /> Finance and Administration Section <br /> Colorado Water Conservation Board <br /> Department of Natural Resources <br /> 1580 Logan Street, Suite 600 <br /> Denver, CO 80203 <br /> RE: Eckhardt Farms, Inc. <br /> Contract No. C15338 <br /> Opinion of Borrower's Counsel <br /> Ladies and Gentlemen: <br /> We have provided legal counsel to Eckhardt Farms, Inc., (the`Borrower"), in connection <br /> with a certain Loan Contract dated October 12, 2012 between Colorado Water Conservation <br /> Board and the Borrower with regard to a loan in the amount of One Million Three Hundred <br /> Thirty Six Thousand Two Hundred Thirty Dollars ($1,336,230.00). <br /> As such counsel we have examined executed counterparts of the following documents: <br /> 1. The Loan Contract <br /> 2. The Promissory Note <br /> 3. Resolutions of the Shareholders <br /> 4. Resolutions of the Board of Directors <br /> 5. Security Agreement <br /> 6. Deed of Trust <br /> 7. Shareholders' Agreement for Assessments <br /> 8. Ownership and Incumbency Certificate <br /> Based upon our examination of the foregoing documents,we are of the opinion that: <br /> a. The Loan Contract has been duly executed by officers of the Borrower who are <br /> duly elected, and are authorized to execute the Loan Contract and to bind the Borrower. <br />