PROJ00488

• Contract/PO #: C153774
• Contractor Name: Pinon Mesa Ranches
• Contract Type: Loan
• Water District: 30
• County: La Plata
• Bill Number: SB 97-008
• Loan Projects - Doc Type: Feasibility Study

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PROVISIONAL BYLAWS

OF

PINON MESA RANCHES COMMUNITY ASSOCIATION
a Colorado Nonprofit Corporation

1. Application. These provisional bylaws shall govern
pinon Mesa Ranches Community Association, a Colorado nonprofit
corporation (the "Association") until the Association adopts
complete bylaws as herein provided.

2. Principal Office. The principal office of the
Association shall be 300 Angus Road, County Road 310, Ignacio,
Colorado 81137. The telephone number is [phone] and the
facsimile number is [phone]. Correspondence and inquiries
directed to the Association shall be sent to the principal office
in care of Charles Palmer.

3. Informational Meetinq. An informational meeting of
persons interested in becoming members of the Association shall
be held on April 1, 1996 at a time and place to be determined by
the undersigned incorporators. At this meeting, Subscription
Agreements shall be distributed.

4. Subscription Period. The subscription period for
memberships in the Association shall begin on April 1, 1996 and
end on May 31, 1996. A person may subscribe to be a member of
the Association by executing and delivering to the Association a
Membership Subscription Agreement in the form attached hereto as
Exhibit A (the "Subscription Aqreement"), and by paying the
Association a membership fee of $200.00. No subscriptions will
be accepted after May 31, 1996.

'5. Post-Subscription Period Procedures.

a. Effective Date of Memberships. On June 1, 1996,
each person having _timely executed and delivered to the
Association a Membership Agreement along with the $200.00
membership fee shall become a member of the Association
(collectively, the "Members").

b. Meetinq of Members. At a time, date (which date
shall be no later than July 15, 1996) and place to be determined
by the undersigned incorporators, of which at least fifteen (15)
days prior written notice shall be given to each of the Members,
the Members shall meet to elect three (3) directors (the
"Directors") and to ratify the prior acts of the Association and
,its incorporators. The Directors must be members of the
Association. The election shall be by cumulative voting of memberships.

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