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<br />8. Deed of Trust dated November I. 2002. being Appendix 5 to Loan Contract <br />C150109. <br /> <br />In addition. we are familiar \....ith L WIC's ditch company operation generally and have <br />reviewed L \VIC's general corporate organizational documents. We have also discussed this <br />proposed transaction with the appropriate company officers. <br /> <br />Based on our review of the documents described above and our familiarity with L \VIC, <br />its ofticers and its operations. we are providing the following opinion of counsel as you have <br />requested. It is our considered legal opinion Ihat: <br /> <br />I. The persons signing for L \VIC were duly elected or appointed and have the <br />authority 10 execute such documents on behalf of L \VIe and to thereby bind L \VIe. Barry <br />Anderson is the duly elected President of L WIC and is also a Director. Donn Engel is the duly <br />elected Secretary of L WIe. <br /> <br />") L WIC shareholders and its Board of Directors have validly adopted Resolutions <br />approving the referenced contract and associated documents and have authorized the officers of <br />L WIC to execute and deliver the same. <br /> <br />3. There are no provisions in L \VIC's Articles of Incorporation. Bylaws or any state <br />or local law that prc\'ents the loan contract and associated documents outlined above from being <br />fully binding and legally enforceable as against L Wle. <br /> <br />~. The loan contract and all associated documents will be valid and binding against <br />L WIC if entered into and duly executed by the slate of Colorado. <br /> <br />Please let me know if )'Oll have any questions or need anything further 10 complete this <br />transaction. Thank yotl. <br /> <br />'{ours very tmly. <br /> <br /> <br />MA YO SO~l~ <br /> <br />~sonllllC <br /> <br />~tS,11h <br />pc: Donn Engel <br /> <br />2 <br />