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<br />. <br /> <br />. <br /> <br />S~cretary shall cancel the old certificate and shall issue a new <br /> <br />certificate as provided. above to the person entitled thereto. <br /> <br /> <br />3. Each certificate of stock shall bear the following <br /> <br />notice: <br /> <br />Unpaid assessments are FIRST LIEN upon <br />this stock. This stock is transferrable <br />on the books of the Company, sUbject to <br />the payment of all unpaid assessments. <br /> <br />4. The holder of any shares of stock of the Company shall <br /> <br /> <br />immediately notify the Company of any loss or destruction of the <br /> <br /> <br />certificate representing the same. The Company may issue a new <br /> <br />certificate in the place of any certificate theretofore issued by <br /> <br />it alleged to have been lost or destroyed, and the Board of <br /> <br />Trustees may require the owner of the lost or destroyed <br /> <br />certificate or his legal representatives to give the Company a <br /> <br />bond in such sum as the Board of Trustees may direct, and with <br /> <br /> <br />such surety indemnify the Company against any claim that may be <br /> <br />made agai~st it on account of the alleged loss or destruction of <br /> <br /> <br />any such certificate or the issuance of such new certificate. A <br /> <br />new certificate may be issued without requiring any bond, when, <br /> <br />in the judgment of the Board of Trustees, it is proper so to do. <br /> <br />5. No stock or water right represented by said stock shall <br /> <br />be transferred or used upon any land not formerly irrigated with <br /> <br />water from the Chilcott Ditch Company. <br /> <br />6. The Company shall keep a record of its stockholders, <br /> <br /> <br />giving the names and addresses of all stockholders and the number <br /> <br /> <br />of shares held by each. This record shall be kept by the <br /> <br />Secretary of the Company. <br />7. The Company shall recognize exclusively for all <br /> <br />purposes as stockholders only persons who are stockholders of <br /> <br />record. <br /> <br />8. The Company shall have no liability whatsoever to any <br /> <br /> <br />stockholder by reason of the fact that the Company fails to honor <br /> <br /> <br />any restriction upon transfer of stock of the Company whether the <br /> <br />restriction is endorsed upon the fact of the certificate <br /> <br />representing such stock or whether the Compa~y otherwise has <br />notice of such restriction. <br /> <br />9 <br />