I: Purpose

ARTICLE IA: DECLARATIONS AND CONDITIONS ON SERVICES

The Pack Creek Water Company has been established to provide water and other limited services to the subdivisions and additions created by the Pack Creek Enterprises pursuant to the declarations, conditions and covenants existing at the time each subdivision or addition were established. This includes sufficient Water Rights to accommodate residences for 43 Shareholder lots within The Pack Creek Water Company’s service area. Additionally, sufficient Water Rights are held to accommodate guest houses, the Ranch HOA pool, livestock, and landscape irrigation. Although The owners of each subdivision or addition are free to alter the covenants applicable to their neighborhood, the Pack Creek Water company is under no obligation to provide additional water or other services that go beyond those established in the original declarations, conditions and covenants established by Pack Creek Enterprises.

Any request for additional water rights beyond those established in the original subdivisions and additions created by Pack Creek Enterprises must be approved by the Board of Trustees and require the approval of Shareholders who own at least two-thirds (67%) of the Shares eligible to vote

ARTICLE V: BOARD OF TRUSTEES

5.9 Compensation. The Board may provide for compensation to any Board member who provides services to the water company that go beyond those normally associated with voluntary Board responsibilities in similar organizations and adopt policies for reasonable reimbursement of Trustees for expenses incurred in conjunction with carrying out Board responsibilities