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James A. Gustafson <br /> Attorney and Counselor of Law <br /> 1010 9th Avenue,P.O.Box 1417 <br /> Greeley,Colorado 80632 June 24, 2016 <br /> 970-356-8200 or 970-356-8201 <br /> FAX 356-2202 <br /> ATTORNEY OPINION LETTER <br /> To: Department of Natural Resources <br /> Colorado Water Conservation Board <br /> Finance Section <br /> Attention: Contracts Manager <br /> 1313 Sherman Street, Room 718 <br /> Denver, Colorado 80203 <br /> Re: Borrower: Union Well Augmentation Group, Ltd. <br /> Contract No. CT2016-3463 <br /> Project Amount: $248,157.00 <br /> Agency Name: Colorado Water Conservation Board <br /> To Whom It May Concern: <br /> Pursuant to Loan Provisions, Section B., paragraphs 7 and 8, of the Loan Contract <br /> entered into between the Union Well Augmentation Group, Ltd. and Colorado Water <br /> Conservation Board, I, as attorney for the Union Well Augmentation Group, Ltd., submit this <br /> letter stating that: <br /> A. It is my opinion that the contract entered into between Union Well Augmentation <br /> Group, Ltd. and the Department of Natural Resources, Water Conservation Board (CWCB) has <br /> been duly executed by Officers of the Union Well Augmentation Group, Ltd.. who are duly <br /> elected or appointed and who are authorized to execute the contract to bind the Union ell <br /> Augmentation Group, Ltd.; <br /> B. The resolutions of the Union Well Augmentation Group, Ltd. authorizin: the <br /> execution and delivery of the contract were duly adopted by the Union Well Augmentation <br /> Group, Ltd.'s Board of Directors and/or stockholders; <br /> C. After reviewing the Union Well Augmentation Group, Ltd.'s Articles of Incorporation <br /> and its By-Laws and any applicable Colorado law, I have found that there are no provision' that <br /> prevent this contract from binding the Union Well Augmentation Group, Ltd. The provisio s of <br /> Union Well Augmentation Group, Ltd.'s By-Laws specifically provide that the Boar. of <br /> Directors are to conduct the Company's affairs, which include approving bills and expendi ures <br /> and entering into contracts; and <br /> D. The contract will be valid and binding against the Union Well Augmentation Group, <br /> Ltd. when entered into by the CWCB. <br /> Re ectfully sub iter <br /> 1/42-//1 di/ - ' <br /> J es A. Gustafson <br /> JAG:mkl <br />