Laserfiche WebLink
CARLSON, HAMMOND 8C PADDOCK, L.L.C. <br /> Colorado Water Conservation Board <br /> December 14, 2017 <br /> Page 2 <br /> 1. The Loan Contract has been duly executed by the President and attested by the Vice- <br /> President of the Centenial Irrigating Ditch Company. These officers have been duly <br /> elected, and are authorized to execute the contract and to bind the Centenial Irrigating <br /> Ditch Company. <br /> 2. The resolutions of the Centenial Irrigating Ditch Company contemplated by <br /> Appendix 4 to the Loan Contract and dated November 16, 2017, which authorize the <br /> execution and delivery of the Loan Contract, were duly adopted by the Centenial <br /> Irrigating Ditch Company's board of directors and shareholders. <br /> 3. There are no provisions in the Centenial Irrigating Ditch Company's Articles or <br /> bylaws, nor any state or local statute which would prevent the Loan Contract from <br /> binding the Centenial Irrigating Ditch Company. <br /> 4. Subject to the effect of, and to restrictions and limitations imposed by, Creditor Rights <br /> Limitations and/or other laws, judicial decisions, and principles of equity relating to <br /> the enforcement of contractual obligations generally, the Loan Contract will be valid <br /> and binding against the Centenial Irrigating Ditch Company if entered into by the <br /> Board. <br /> This opinion letter is issued as of the date hereof, and we assume no obligation to <br /> revise or supplement this opinion letter to reflect any facts or circumstances that may <br /> hereafter come to our attention, or changes in law that may hereafter occur. <br /> This opinion letter is furnished to the Colorado Water Conservation Board ("Board") <br /> solely for its information and benefit in connection with the entry of the Board into the Loan <br /> Contract, and may not be relied upon by the Board for any other purpose without the prior <br /> written consent of this firm. Further, the Company is our sole client in this transaction, and <br /> delivery of this letter to the Board does not establish an attorney-client relationship between <br /> this firm and the Board. <br /> Carlson, Hammond & Paddock, LLC <br /> By: w ta.c+.t. 0 , P&- <br /> William A. Paddock <br /> Copy: Centenial Irrigating Ditch Company <br /> Mason H. Brown <br />