C150029 Misc court documents

• Contract/PO #: C150029
• Contractor Name: Chilcott Ditch Company
• Contract Type: Loan
• Water District: 10
• County: El Paso
• Bill Number: EIA
• Loan Projects - Doc Type: Feasibility Study

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b. The Company through its Board of Trustees shall

have the power to withhold water from delinquent stockholders

until assessments shall have been paid.

c. The Company may maintain an action to recover any

unpaid assessment which shall remain due and unpaid for a pe~iod

of thirty (30) days and all attorneys fees and costs of the

action from the date it is due; provided, however, before such

action may be maintained, the Company must make written demand

therefor by mailing such demand notice to the delinquent

stockholder, postage prepaid, at his last known address.

d. If the assessments on any share or shares of stock

have not been paid for a period of three (3 ) years or more after
the time when due, then, at the option of the Company it may
institute any type of action it may elect to foreclose on the se
shares of stock. This right shaH be in addition to any other

rights it has for the collection of delinquent assessments.

e. No stockholder shall have the right to vote or

hold office if he is delinquent on his stock assessments.

f. No stock shall be transferred upon the books of

the company until all unpaid obligations have been paid in full.

ARTICLE V
Stock Certificates

1. Each stockholder of the Company shall receive a

certificate under t~e seal of the Company for the number of

shares of capital s~ock which he may be entitled, which

certificate shall be signed by the President and Secretary

of the Cqmpany and shall otherwise conform to the Colorado

Corporation Code.

2. No transfer of stock shall be allowed or recognized

except upon return to the Company of the old certificate and

until transfer upon the books of the Company; provided, however,

when the old certificate is returned to the Company, the

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