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<br />LEAVENWORTH & CALOIA, P.C. <br />ATTORNEYS AT LAW <br /> <br />LOYAL E. LEAVENWORTH <br />SHERRY A. CALOIA <br /> <br />SAMUEL J. LIGHT <br />JEFFERSON V. HOUPT <br />CAROLYN M. STRAUTMAN <br />KENNETH R. MOTSENBOCKER <br /> <br />November 8, 1994 <br /> <br />1011 GRAND AVENUE <br />P.O. DRAWER 2030 . <br />GLENWOOD SPRINGS. COLORADO 81602 <br />TELEPHONE: (303) 94S.2261 <br />FAX: (303) 945.7336 <br /> <br />Colorado River Water Conservation Board <br />clo Ian lliian <br />P. 0, Box 1120 <br />Glenwood Springs, CO 81602 <br /> <br />Re: Kings Row Homeowners Association/CWCB Loan Contract <br /> <br />Ladies and Gentlemen: <br /> <br />Concerning the above contract, it is my opinion: <br /> <br />1. <br />official. <br /> <br />That the signature of the person signing for the entity is that of a duly-authorized <br /> <br />2. That the person signing for the entity has the authority to bind the entity and that <br />the contract has been validly approved by the entity's governing body. <br /> <br />3. That the entity has the authority to contract to borrower money from the State of <br />Colorado and to give security as set forth in the contract in order to assure repayment of the <br />loan. <br /> <br />4. That there are no provisions in the entity's code or charter or any other state or <br />local law or Colorado law that prevents this contract from binding the entity. <br /> <br />5. That the contract will be valid and binding against the entity if entered into by the <br /> <br />State. <br /> <br />Very truly yours, <br /> <br />LEAVENWORTH & CALOIA, P.C. <br /> <br />LEL:rln <br />cc: Kings Row HOA <br /> <br /> <br />F:\FlLES\CRWCD.ILT <br />