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<br />7. The rights and remedies of the Secured Party stated in this Assignment are in addition <br />to any other rights the Secured Party may have under the Loan Contract or any law. <br /> <br />8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, <br />and receivers . <br /> <br />9. This Assignment shall be construed in accordance with the laws of the State of <br />Colorado. <br /> <br />10, "Fha I:>ebtor and Secured Party specifically request the Bank to honor and accept this <br />Assignment and its terms. (J <br /> <br />Executed this L day of hJ~1997. <br /> <br />River Oaks On The Roaring Fork <br />Property Owners Association, Inc. <br /> <br /> <br />ACKNOWLEDGMENT BY BANK <br />By its officer's signature, the Alpine Bank in Basalt, Colorado ("Bank") acknowledges that <br />it has received a copy of the foregoing Assignment and agrees that neither the Debtor nor <br />anyone else (except Secured Party) has any right to withdraw any funds from the above- <br />described Account listed above until the Secured Party releases this agreement in writing, <br />except that, at the Debtor's request, the Bank shall release the annual Loan payment in the <br />amount of $2,046.99 to Secured Party. The Bank acknowledges that the Account is a <br />special deposit and that the funds deposited therein are to be used solely for Debtor's <br />repayment to the Secured Party of the Loan, and waives any right of setoff it may have in <br />and to the Account. <br /> <br />The Alpine Bank in Basalt, Colorado <br />.f\ n (1 <br />By \ . ~~O r \ l.:JfCS~ <br /> <br />'-/ ' <br />Printed Name C~her \ '61(\u.,)'T'l <br />Title A<..J~\s+o_n-\- \j \ c.<L Pre:stc\e.il+- <br />Date Pl/l\. /0'( <br /> <br />ATTEST: <br /> <br />By ~J.l>UJ Sci',vR5 <br />