C150168 PIF

• Contract/PO #: C150168
• Contractor Name: The Fulton Irrigating Comapny
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

turned in at the headgate of this Company , subject always to the state of the water
in said river as affecting the ability to secure the full appropriation for such
ditch, as a perpetual water right, for use by such holder for the purpose of
irrigation during the irrigating season, agreeable to the laws of the State of
Colorado and the rules and regulations of this Company."
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Section 2. Transfers of stock shall be made only on the books of the
Company , either in person or by attorney, and must be accompanied by the
surrender of the duly endorsed certificate or certificates representing the
transferred stock. Surrendered certificates shall be cancelled and attached
to the corresponding stubs in the stock certificate books and new certificates
issued to the parties entitled thereto. The stock books shall be closed to
transfers on the thirty-first day of December of each year.
Section 3. No transfers of stock shall be valid as against this Com-
pany so long as the registered holder thereof shall be indebted to this Company
upon any past due debt either as principal, surety or otherwise. The Company
shall have and retain a first and valid lien upon all shares of stock of each
stockholder as security for the payment of any sum or sums for which such
stockholders shall be indebted to this Company, whether as principal, surety
or otherwise. But no transfer of any stock shall be made on the books of the
Company until assessments upon such shares of stock shall have been paid
and the original certificate surrendered and cancelled. The Secretary shall
preserve and safely keep all such surrendered and cancelled certificates .
Section 4. In case this Company acquires or becomes the owner of
any of the capital stock of this Company , such stock shall be sold for such
price or prices as the Directors may from time to time fix and determine. Such
stock shall not be entitled to vote while held by this Cop
ArliOt Section 5. The Board of Directors may order
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certificates of stock to be issued in place of any ertificate or cern of
�r h case
the Company alleged to have been lost or destroy , u irr 1.1 j .v ctase
the owner of the lost certificate or certificates sha-: i ca
the Company a bond, with security to be approved by the ar , D_ e S'
in such sum as the Board of Directors may determine and direct, as indemnity
against any loss or claim that the Company may incur by reason of such is-
suance of new stock certificates; but the Board may, in its discretion refuse
to issue such new certificate save upon the order of some court having juris-
diction in such matter.
Section 6. Possession of stock certificate shall not be regarded as
evidence of ownership of the same unless it appears on the stock book of the
Company that said certificate was issued or duly transferred to the holder of
the same.
Section 7 . Any stockholder not desiring to use for himself the water
from said ditch to which he is entitled on account of his capital stock ownership
in any year, shall have the right to dispose of such water for such year to
another or others; but in no event shall water represented by the ownership
of capital stock of the Fulton Irrigating Ditch Company be transferred, used
or utilized by any stockholder or user of said water without first going through
the headgate of the Fulton Irrigating Ditch Company on the South Platte River
as presently constructed or as may be hereafter constructed. The Company
assumes no responsibility for delivery of such water and under no circumstance
will the Company construct new gates in the Fulton Canal or obstruct the flow
of water in the Company's ditch by checks or otherwise.
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