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. . the same day of the following week that is not a legal holiday. Failure to hold the annual meeting at the designated time shall not work a forfeiture or dissolution of the Corporate Charter. 3.3. Special Meetings, Special meetings of the shareholders may be called by the president, the Board, or the holders of not less than ten percent (10\) of all Shares entitled to vote at the meeting. 3.4. Notice of Meeting - Waiver. . Notice of all meetings of Shareholders of the Corporation, both regular and special, shall be given in accordance with C.R.S. Section 7-4-112, Repl. Vol. 1986, unless waived by compliance with C.R.S. Section 7-4-119 and 122, Repl. Vol. 1986. 3,5. Voting Rights. Every shareholder shall be entitled to one (1) vote for each Share standing' in his name on the books of the Corporation. Cumulative voting shall not be allowed. 3.6 Quorum. Twenty Five percent (25%) of the authorized and outstanding shares entitled to vote thereat, represented in person or by proxy, shall constitute a quorum at a meeting of shareholders. The shareholders present at a duly organized meeting may continue to do business until adjournment, notwithstanding the withdrawal of enough shareholders to leave less than a quorum. If a quorum'shall not be represented at any meeting of the Shareholders, such meeting may be adjourned for a period not to exceed sixty (60) days at any one adjournment. 3.7 Proxies and Designated Representatives. A shareholder may vote either in person or by proxy. No proxy shall be valid after eleven (11) months from the date of its execution, unless otherwise provided in the proxy. At or before each meeting, all shareholders ! _ i J -3-