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Colorado Water Conservation Board <br /> June 15, 2017 <br /> Page 2 <br /> 3. There are no provisions in the Association's articles of incorporation or bylaws or <br /> any state or local law that prevent the Loan Contract from binding the Association. <br /> 4. The Loan Contract will be valid and binding against the Association if entered <br /> into by the Colorado Water Conservation Board. <br /> If we can provide further assistance, please do not hesitate to contact me. <br /> Sincerely, <br /> WILLIAMS, TURNER& HOLMES, P.C. <br /> //4I <br /> Kirsten M. Kurath <br /> KMK:pim <br /> pc: Mark Harris, General Manager <br />