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<br />Thetonn of Ul0 existenoe of soid corporation shull
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<br />be twonty (20) yeal'o fl'onl the dot" of theao "",tioles.
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<br />Tho' Prin01pal otfioo of the company slmll he kept in
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<br />~1~ tho County at Boulder, Stat.. of COlorado, 000 the
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<br />t)rlnclp~ll)\lsi,neBs, of' tho comp.my sholl bo carried on 1n tho
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<br />.: seld County of' Bouldor.
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<br />THurn:
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<br />TholJoa:rr1 of directors sl1ull }mvo pOW01' to r.llllce such
<br />pl'UCientlel by-laws es they ,"ay dOOf-l'D1'OPO>' 1'01' tho mOl'wgoment
<br />,of tho a1't011'8 01' t.he com,o 11,V. not inoonsltent w1th tho 1a\7S
<br />of th1astste, fot' the pUt'poss 01' oSl'ryil1(t, on 011 ldnds of
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<br />llUSil10ss 1'l1thil1', the, }lIIrpoeos of such cOl'1puny.
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<br />At all mGot1nao of tho otoclrholdl'l!'O 01' tho r:oid com-
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<br />"iJ!lI1Y cumulative voting shall be aUOVlor1.
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<br />'Ill 'mm'IMOIIY,l:lllml,OC-. \'Ie havo hBl'ount.o sot aU!' hams
<br />an'd se" ", la,' an, dpCB, us, r" tll!, instrument to be oxecuted. ill dupl1_
<br />CBtO.}h1S_:_ , _ __ -:_ _dny Of~~ _, A.D.l91n.
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