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<br />, <br />'~ <br /> <br />. <br /> <br />. <br /> <br />Ii~c. <br />bte I ~/If~O <br />"'" 4 IDn-. <br />C"~to "-""0 II'. "'I1W' <br />~~fi""~fJr <br />'Ittr <br /> <br />ALPERSTEIN & COVELL, P.c. <br /> <br />ATTORNEYS AT LAW <br /> <br />DON ALD W. ALPERSTElN <br />CYNTHIA F. COVELL <br />EDWARD M. CASWALL <br /> <br />2350 COLORADO STATE BANK BUILDING <br />1600 BROADWAY, DENVER, COLORADO 80202-4923 <br /> <br />TELEPHONE <br />(303) 894-8191 <br />FAX <br />(303) 861-0420 <br /> <br />SCOTT A.CLARK <br /> <br />December 10, 1998 <br /> <br />- -- ----- - -"--- <br /> <br />---- - --- <br /> <br />--~-- <br /> <br />Ms. Jan Illian, Contract Administrator <br />Colorado Water Conservation Board <br />13 I 3 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />RE: Loan to Town of Georgetown <br /> <br />Dear Jan: " , " , , .. - <br /> <br />.... ,"_r.. <br /> <br />, ',. <br /> <br />. ( ~!-: . ;". "';". .. . , . <br /> <br />The Town of Georgetown' is scheduled to close the purchase ofthe 1 Yz shares of the Farmers <br />Highline Canal and Reservoir Company on January 6,.1999 at 10:00 a.m. at our office. Please feel <br />free to send a representative of the CWCB if you wish to do so. <br /> <br />I understand J ed Caswall has requested a check for the loan proceeds, and that the check will <br />be forwarded to the water broker, Paul Jacobucci, to be placed in his trust account until the closing <br />date. In have misunderstood the procedure, please let me know. I assume, also, that a check can <br />be forwarded in order to meet this closing date. <br /> <br />Weare in the process of obtaining the information you requested regarding the "legal <br />description" of the Farmers Highline shares. I assume you are referring to a listing of the water <br />rights that make up the Farmers Highline Canal and Reservoir Company, of which the 1 Yz shares will <br />represent a proportionate interest. We will not have share certificate numbers until after the closing, <br />because new shares willllot be issued until that time. I assume that we can complete the security <br />agreement and include the share certificate number at the time the new certificate is issued. We will <br />direct the Farmers Highline Company to designate the CWCB as lienholder on the certificate, and <br />to transmit the new certificate directly to the CWCB as provided in the loan documents. Please let <br />us know if any other procedure is needed. <br />