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<br />. <br /> <br />. <br /> <br />McDANIEL BATY & MILLER, L.L.C. <br />ATTORNEYS AT LAW <br />AN ASSOCIATION OF ATTORNEYS <br />1040 MAIN AVENUE <br />DURANGO. COLORADO 81301 <br />970-247-1113 <br /> <br />LW, McDANIEL <br />MICHAEL W. BATY <br />G,R, (Bob) MillER' <br />'(also admitted in N.M.) <br /> <br />MAILING: P,O, BOX 1157 <br />DURANGO. CO B1302-1157 <br />FAX: 970-259-2690 <br /> <br />DENISE SAGUE ROBBINS" <br />U(0150 admitted in Georgia) <br /> <br />September 8, 1997 <br /> <br />State of Colorado <br />Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, Co. 80203 <br /> <br />rei pinon Mesa Ranches Community Association <br /> <br />Gentlemen; <br /> <br />Our firm represents the above association and has been asked <br />to furnish an opinion by its attorney as to certain matters. <br /> <br />It is our opinion that: <br /> <br />1. Charles A. Palmer is the president of the Association and <br />has authority to execute loan documents on behalf of the <br />Association and to bind the Association to the terms thereof.. <br /> <br />2. That borrower's members and board of directors have <br />validly adopted resolutions approving the contract for the loan. <br /> <br />3. There are no provisions in ei ther the Articles of <br />Incorporation or the By-laws of the Association or any state or <br />local law which prevent this contract from being binding upon the <br />Association. <br /> <br />4. The contract will be valid and binding against the <br />Borrower if entered into by the State of Colorado. <br /> <br /> <br />LWM/m <br />