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<br />,,-it <br /> <br />any other rights the Secured Party may have under the Loan Contract or any law. <br />8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, and <br />receivers. <br /> <br />9. This Assignment shall be construed in accordance with the laws of the State of Colorado. <br />10. The Debtor and Secured Party specifically request the Bank to honor and accept this <br />Assignment and its terms. <br />Executed this 1$ ~ day of S .or:c-~~ 2000. <br /> <br />Highland Ditch Company, a Colorado <br />nonprofit corporation <br /> <br />SEAL <br /> <br />~ <br /> <br /> <br />~ Schlagel, Presiden <br /> <br /># <br /> <br /> <br />1 <br /> <br />By <br /> <br /> <br />ACKNOWLEDGMENT By BANK <br /> <br />By its officer's signature below, the First National Bank ("Bank") acknowledges that it has <br />received a copy of the foregoing Assignment and agrees that neither the Debtor nor anyone else <br />(except Secured Party) has any right to withdraw any funds from the above-described Account listed <br />above until the Secured Party releases this agreement in writing, except that, at the Debtor's request, <br />the Bank shall allow transfers of funds from the Account to Secured Party. The Bank further agrees <br />that, upon notice from Secured Party that the Debtor is in default under its Loan Contract with <br />Secured Party and that Secured Party is exercising its right under the Assignment to withdraw funds <br />contained in the Account, the Bank shall pay such funds directly to Secured Party until advised <br />otherwise by both Secured Party and the Debtor. 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 repayment to <br />the Secured Party of the Loan, and waives any right of setoff it may have in and to the Account. <br /> <br />Bank: The First NationaJ:,Bahk of Longmont <br /> <br />BYQU. ~~l President <br />Printed Name & Title RicJlard L. Salberg <br />Date September 15, 2000 <br /> <br />Attest: <br /> <br />~JJJJiJ..- ~~Il< ~_ <br /> <br />Corporate Secretary <br />