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<br />. <br /> <br />. <br /> <br />ARTICLE VI <br />Legal Proceedings By Stockholders <br /> <br />1. As a condition precedent to filing in any court of the <br /> <br /> <br />State of Colorado an application which mayor will affect the. <br /> <br /> <br />enjoyment or use of any water rights decreed to the Company, a <br /> <br /> <br />stockholder shall notify the Board of Trustees in writing of the <br /> <br /> <br />proposed application, and with. such notice shall furnish to the <br /> <br /> <br />Beard of Trustees a true copy of the application and all <br /> <br /> <br />attachments in the form in which it is proposed to be filed and <br /> <br /> <br />shall further at the same time furnish to the Board of Trustees <br /> <br /> <br />all legal and engineering information available to the <br /> <br /> <br />stockholder directly or indirectly relevant to the application in <br /> <br /> <br />question. <br /> <br /> <br />2. Immediately upon receipt of a notification and <br /> <br /> <br />supporting documents, the 'Board of Trustees shall forthwith cause <br /> <br /> <br />the application to be evaluated by itself and, if believed <br /> <br /> <br />necessary by the Board of Trustees, by lawyers, engineers and <br /> <br /> <br />other professionals, all with a view to preparing and furnishing <br /> <br /> <br />a written statement of position on the part of the Board of <br /> <br /> <br />Trustees respecting the proposed application. <br /> <br /> <br />3. Not later than thirty days following receipt of the <br /> <br /> <br />notification and required attachments, the Board of Trustees' <br /> <br /> <br />shall furnish to the stockholder in question a written statement <br /> <br /> <br />of the position of the Board of Trustees with respect thereto, <br /> <br /> <br />provided, however, that this written statement shall not be <br /> <br /> <br />binding upon the Board of Trustees or the stockholders in the <br /> <br /> <br />event that the application in question should be filed and the <br /> <br /> <br />Company should then file a statement of opposition or take other <br /> <br /> <br />proceedings with respect ~hereto. <br /> <br /> <br />4. As a condition precedent to the filing of the mentioned <br /> <br /> <br />application, at a date, time and place set by the Board of <br /> <br /> <br />Trustees not less than 30 days and not more than 40 days after <br /> <br /> <br />receiving the application, the Board of Trustees shall meet with <br /> <br /> <br />the applicant and shall discuss openly, fairly, fully and <br /> <br />, <br /> <br />10 <br />