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<br />occasion shall not constitute a waiver on any other occasion. <br /> <br />6. The rights and remedies of the Lender stated in this Assignment are in addition to <br />any other rights the Lender may have under the Loan Contract or any law. <br /> <br />7. This Assignment shall be binding upon Owner and its successors, assigns, trustees, <br />and receivers. <br /> <br />8. This Assignment shall be construed in accordance with the laws of the State of <br />Colorado. <br /> <br />9. The Owner and Lender specifically request the Bank to honor and accept this <br />Assignment and its terms. <br /> <br />Executed this _~ day of October 1997. <br /> <br />SEAL <br /> <br />)) Li ';rkansas Groundwater Users Association, a <br />~~1Jado non-profit corporation <br /> <br />IlV b..:Y CR,~ <br />~ V.l..,.l.., C.R Evans, President <br /> <br /> <br />ACKNOWLEDGMENT By BANK <br /> <br />By its officer's signature, the Colorado East Bank and Trust, La Junta, Colorado <br />("Bank") acknowledges that it has received a copy of the foregoing Assignment, and <br />agrees that, upon notice from the Colorado Water Conservation Board ("Secured <br />Party") that the Arkansas Groundwater Users Association ("Debtor") is in default under <br />its Loan Contract with the CWCB and that the CWCB is exercising its right under the <br />Assignment to withdraw funds contained in the Certificate of Deposit, the Bank shall <br />pay such funds directly to the CWCB until advised otherwise. The Bank acknowledges <br />that the Certificate of Deposit account is a special deposit and that the funds deposited <br />therein are to be used solely to secure Debtor's loan from Secured Party, and waives <br />any right of setoff it may have in and to the Certificate of Deposit Account. <br />Colorado East Bank and Trust <br /> <br />cX1. .... . ) <br />By .t1J!iL- GQ~ . <br />Printed NamelTitle 1, y1. d ~ U(l fL'!J (.J.J' "( /Zt~{) tltil) <br />Date ![)- if.- 97 <br /> <br />ATTEST:/ <br />../ / /7 _ <br />By ......V!e.?-fl~ <br /> <br />~c~"- <br /> <br />"- <br />