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<br />".,. <br />U'') <br />~ <br /> <br />, - <br />-' <br /> <br />Cl <br />C' <br /> <br />system (including the Kiefer Extension Ditch) attributable <br /> <br />to all Class B stock from the proposed annual assessment to <br /> <br />be levied against each share of Class B stock by a factor of <br /> <br />.40 which factor represents the historical relationship <br /> <br />between the assessments levied against the Grand Valley <br /> <br />Irrigation Company stock and the costs of maintenance, <br /> <br />operation and management of the ditch or canal formerly <br /> <br />owned and operated by The Fruita Canal and Land Company and <br /> <br />commonly known as the Kiefer Extension Ditch, herein <br /> <br />referred to as the Kiefer Extension Ditch. <br /> <br />(2) Each share of Class C stock shall represent <br /> <br />the right to transport an amount of irrigation water <br /> <br />otherwise owned or controlled by the owner of such share of <br /> <br />Class C stock not exceeding one-half stat:utory inch of <br /> <br />water. <br /> <br />(3) No shares of Class C stock may be <br /> <br />transferred, sold or otherwise disposed of except to those <br /> <br />persons, groups of persons, associations, companies or <br /> <br />corporations that are entitled to utilize water transported <br /> <br />through the Kiefer Extension Ditch either by ownership or <br /> <br />control of Class A and Class B stock. <br /> <br />G. No assessments of any kind or nature, special <br /> <br />or general, except as provided in Paragraph F(l) above, shall be <br /> <br />levied against Class C stock. All Class A and Class B stock may <br /> <br />5 <br />