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STEVEN K. HARPER, LLC <br /> Attorney at Law <br /> P.O. Box 2099 <br /> HOTCHKISS, CO 81419 <br /> (970) 872-3173 <br /> Fax: (970) 872-3186 <br /> June 22,2016 <br /> Colorado Water Conservation Board <br /> Colorado Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> Re: Loan Contract with The Duke Ditch Company <br /> CWCB CMS: 88645; <br /> CORE: CT2016-3070 <br /> Dear Sirs and/or Madams: <br /> Please be advised that I have been engaged by The Duke Ditch Company of Hotchkiss, <br /> Colorado (hereafter"Company") for purposes of advising the Company and to provide you with <br /> an Attorney's opinion letter regarding the above-mentioned Loan Contract. <br /> I have reviewed the Company's records and conferred with the Company <br /> Secretary/Treasurer Scott Kolb. I have also reviewed the draft Loan Contract, Promissory Note, <br /> Deed of Trust, Security Agreement, Company Resolutions and other related documents and offer <br /> the following: <br /> (1)The Loan Contract has been duly executed by officers of the Company who are duly <br /> elected or appointed and are authorized to execute the Loan Contract and to bind the Company; <br /> (2) The Resolutions of the Company authorizing the execution and delivery of the Loan <br /> Contract were duly adopted by the Company's Board of Directors and Shareholders; <br /> (3) There are no provisions in the Company's articles of incorporation or bylaws or any <br /> state or local law that I am aware of that prevents the Loan Contract from binding the Company; <br /> and <br /> (4)The Loan Contract will be valid and binding against the Company if entered into by <br /> the Colorado Water Conservation Board. <br /> Please let me know if I may be of further assistance. <br />