C150086 Contract

• Contract/PO #: C150086
• Contractor Name: Glenwood Irrigation Company, The
• Contract Type: Loan
• Water District: 40
• County: Garfield
• Bill Number: SPL
• Loan Projects - Doc Type: Contract Documents

LEAVENWORTH & KARP, P.C.

Colorado Water Conservation Board
Department of Natural Resources
Page 5
March 20,2002

or state laws concerning trust business or trustees, securities laws, debenture laws,
debenture company laws, or banking laws. Further, we except from all opinions
and render no opinion as to the applicability or effect of federal or state tax laws;
and

11. We express no opinion about the right of any party to take possession of or to
collect the rents from the Property without having a receiver appointed by the
appropriate court in accordance with Colorado law; and

12, We express no opinion as to the survival of obligations contained in any of the
Loan Documents after foreclosure under power of sale provisions contained in any
of the Loan Documents without proper confirmation of sale; and

13 , We express no opinion as to a party's ability to enforce any indemnification
obligations in the Loan Documents to the extent the injury or damage is caused or
results from the sole or concurrent negligence of such party, its agents or
employees, or to the extent such indemnification may be limited by considerations
of public policy; and

14, We express no opinion with respect to the enforceability or effect of contractual
provisions: (i) broadly waiving rights (including, without limitation, common law,
statutory or constitutional rights) or unknown future rights; (ii) waiving, releasing,
or imposing liability notwithstanding defenses or claims when such is
unconscionable or against public policy; (iii) waiving, releasing, or imposing
liability notwithstanding rights conferred by statute or other law; (iv) purporting
to fix evidentiary standards or waiving or modifying court rules or statutes
regarding litigation (including but not limited to service of process); (v) allowing
a party to take action as attorney-in-fact or otherwise on behalf of another party;
(vi) allowing extra-judicial setoff or setoff in circumstances not allowed by law;
(vii) allowing acceleration without notice; (viii) stating that the determination of a
party shall be final, binding or conclusive or that a party's obligation or agreement
is absolute; (ix) purporting to make available self-help remedies; (x) providing for
mathematical calculations; (xi) providing for conflicting terms; or pertaining to
jurisdiction, venue or choice of law; and

15 , We are licensed to practice law only in the State of Colorado and the opinion of the
undersigned is limited to the laws of the State of Colorado and the federal law of
the United States of America, We express no opinion on the law of any other
jurisdiction, None of our opinions pertain to any law, ordinance, or rule of any
county, town, city or other local government agency or unit; and

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