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<br /> <br />Letter to the Colorado Water Conservation Board <br />Page Two <br />November 5, 2003 <br /> <br />3. Finally, the contract will be valid and binding against <br />the Ditch Company if entered into by the Colorado <br />Conservation Board. <br /> <br />I believe that the forgoing satisfies the requirements of <br />paragraph 7 of the loan contract. Should anyone require further <br />information please feel free to contact me at my office. <br /> <br />_A'Y ~C"'s <br /> <br />IGordon J. B sa <br /> <br />z <br /> <br />~ <br /> <br />GJB:ag <br /> <br />cc: Mike McNeil <br /> <br />