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<br /> <br />1 mile through center of Section 2, Twp. 44 Range 10 aforesaid; <br />thence West 1/2 lUle; thence 'South 1/2 mile; thence West 1/2 mile; <br />thence ,South 1/4 mile; thence West 1/4 mile; thence South 1/4 mile; <br /> <br />thence West 3/4 oile; thence North 2 ~ile~ to north line of said <br />/ <br />Tvrp. rr; thence West on Trip. line 3/4 mile; thence North 3/4 mile <br />'? <br />in Sec. 32, Twp. 45 aforesaid; thence East 1/4 mile to the East line <br />:~~fci~~~~3lf;:~~ii:~~,;~i!8'~t~i2i/ ~"fuiles 410 North-Vle;t-';;;~'~r'\)f saie <br /> <br />Sec. 28, Twp. 45, the place of beeinning; to oIJero.te, manage and <br />controlt, build, mmplete and extend canals, reservoirs, !lump.s, pip~ <br /> <br />lines and all structures and E\?pliunces :lS m3.Y be useful in connectic <br /> <br />therewith; to make ~nd enter into contracts with reference to the &- <br /> <br />bovs enumerated purposes; to acquire b: purchase the Cotton Creek <br /> <br />Air Line Ditch, the he~dgate of which is located on the left bank of <br /> <br />Cotton Creel~ at! or near a point \';:1e"ce the South-west Cnnnar of <br /> <br />Section 20. Twp. 45 N. R. 11 E. N. M. M. bears S 43010' W. 2342 feet, <br /> <br />from ~hich Doint said ditch extends i~ Q ~enoral wetterly direction; <br /> <br />;~~~.t.:~R~y:,e8{~~~r~;)?:r, R1fF;ge~~~~"ell.tho riehtl3 to watrr appurtenant to <br /> <br />said ditch~ <br /> <br />ARTICLE III. Duration. <br /> <br />The term of e~i~tence of said Co~~any shall be 20 ~ears. <br /> <br />ARTICLE IV. Capital Stock. <br /> <br />The Capital Stock of said COMpany shall be Fifty Thousand <br /> <br />Dollars, divided into 50,000 share~ of One Doll~r eRch; each share <br /> <br />of the capital stock as aforesaid ~~all ent:tle its holder of re- <br /> <br />cord on the books to the corpor~lion under such reGulations as may <br /> <br />b~ adopted under and by the by-laws of said corporation, to the use <br />~'~~~~;0i~~~~~tn2:;1l;r"Z':;;';;,t;.~.?,~&a~,~;'~}J:t:'f.:~::_qf., th,;~,.,)j'ater to b~ c<:.rried and dis- <br />-" tributed in the water ';;ays of t:-:o sdd co!'!)orr-ttion aV;;1,ilable for <br />the purpose aforesaidj'said stock shall be assessable as in the by- <br /> <br />laws of said corporation shall be provided; Provided, however, that <br /> <br />no ~ssessment so levied shall exceed ten per cent. of the amount of <br /> <br />-2- <br />