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PROJ00025
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Last modified
5/8/2015 9:36:27 AM
Creation date
10/5/2006 11:29:56 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150106
Contractor Name
Glenwood Irrigation Company c/o The Thompson Glen Irrigation Company
Contract Type
Loan
Water District
39
County
Garfield
Bill Number
SPL
Loan Projects - Doc Type
Contract Documents
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<br />. ...... ". J f P '"' <br /> <br />LLnlLlynVII!n ~ ~M~r <br /> <br />IlV, II L <br /> <br />r. ~ <br /> <br />LEAVENWORTH & KARP, P.C. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />Page 3 <br />November 2, 2002 <br /> <br />OPINIONS <br /> <br />Based upon the foregoing and subject to the assumptions, qualifications, exceptions and <br />limitations hereinafter described, we are of the opinion that: <br /> <br />1. Based solely on the State Certificate, Borrower is in existence in the State of <br />Colorado as a Colorado Ditch Company. <br /> <br />2. Based solely on the Incumbency Certificate, the person who will execute the Loan <br />Documents for the Borrower has been duly elected or appointed and has the authority <br />to execute such documents on behalf of the Borrower and to bind the Borrower to <br />the terms and conditions thereof. <br /> <br />3. Based solely on the Incumbency Certificate and the Resolutions, the Borrower's <br />Board ofDirectoIs has duly adopted resolutions approving the terms and conditions <br />of the Loan Documents. <br /> <br />4. The Loan. Documents will constitute legal, valid and binding obligations ofBorrower <br />enforceable in accordance with their terms. <br /> <br />5. The execution and delivery of, and theperfonnance of the obligations under the Loan . <br />Documents, will not violate the Organizational Documents of the Borrower <br /> <br />ASSUMPTIONS, EXCEPTIONS, QUALIFICATIONS AND LIMITATIONS <br /> <br />These opinions are subject to the following assumptions, exceptions, qualifications and <br />llinitations: <br /> <br />I . We have assumed the genuineness of all signatures and the legal competence of all <br />natural persons signing any of the documents listed herein; and <br /> <br />2. We have assumed the authenticity of all documents submitted to us as originals, the <br />conformity with the original documents of all documents or portions of documents <br />submitted to us as copies, and me completeness ofall Loan Documents, including <br />the attachments of all exlnbits and coll1pletion of all blaJlks; and <br /> <br />3, We have assumed that all parties will act in a commercially reasonable manner and <br />will meet their implied obligation of good faith and fall' dealing; and <br /> <br />4. We have assumed the factual accuracy of all Loan Documents and materials <br />reviewed by us, that the Loan Documents contain all material facts and the entire <br />agreement of the parties, an.d that there are no documents, agreements or <br /> <br />~"-OO2\C_IGICIG~\Op....L<=a."P'l <br />
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