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<br />2 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />.1 <br />I <br />I <br />I <br /> <br />owners per lot. The Bylaws specify the number of officers/directors for the <br />Association as well as their duties and terms of office. Both the Bylaws and the <br />Covenants describe the provisions for the collection of assessments which must <br />be approved by a majority of the membership at either the regular annual or <br />special meetings of the membership. Provisions are included to place a lien on <br />the property and to foreclose on that lien for assessments that are not paid. <br />The CRPOA has no outstanding debt and has varied its annual <br />assessments to maintain a reasonable operating reserve. Financial statements <br />for 1996 and 1997 have been provided which delineate the operating and <br />maintenance costs for the centralized Water system. <br />Since late 1995, the CRPOA has actively pursued action that would <br />assure that the well that supplies water to their centralized water system would <br />have a dependable water supply. This included coverage in an augmentation <br />plan that would be in compliance with the Colorado Division of Water Resources <br />Rules for the South Platte River Basin. The association wants to purchase a <br />senior surface water right which will a:Ssure an acceptable augmentation supply <br />to allow their well to continue to operate with certainty for the future. <br /> <br />DESCRIPTION OF SUBDIVISION <br /> <br />The Columbine Ranches Subdivision is located on a 160 acre parcel in <br />the SE1/4 of Section 5, T2S, R66W, 6PM in Adams County. See Figure 1. It is <br />approximately five miles south of Brighton, Colorado, and one and one-half miles <br />Southwest, upstream, of Barr Lake. The Subdivision was approved by Adams <br />County in 1978, and now consists of 54 lots ranging in size between two and <br />four acres each. Homes or improvements now exist on 50 lots with several new <br />homes built this past year. It is likely homes will be built on the other four lots <br />sometime soon. All lots are owned by individuals--none are still owned by the <br />original subdivider. <br />The Subdivision utilizes individual on lot wells constructed by each <br />homeowner for the in-house domestic supply. Those wells produce from the <br />