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<br />
<br />ASSIGNMENT OF CERTIFICATE OF Q.EPOS1I
<br />
<br />In Consideration of and as security for reimbursement for monies owing under a loan frorn
<br />the Colorado VVater Conservation Board ("Lender") in the amount or $280,500.00 ("Loan")
<br />pursuant to Contract Enc.,jmbran09 Number C153721, ("Loan ContmctlProl"nissory Noti.:f); th'3
<br />Town of Lyons ("OwnerJ') hereby assigns to the Lender the following Certificate of Deposit and
<br />a!1 principal, interest and other proceeds therefrom (cumulatively "Coll~' ral"): CertjfjcatB of
<br />Deposit No. 9007554 in the amount of $22,508.05 issued by Pioneer f
<br />and maturing on September 17) 1997.
<br />
<br />
<br />The Col!ateral secured the paymEJi-lt and performance of all of s d f!",lui(:;, direct
<br />or indirect, absolute and contingent, express and implie:d, indebtedness, ,\.. , c'lif.jatio!'1s
<br />d t ( I.. I 'C'I.-" . ".b L' t'L' .-,. .tijl'D .
<br />an' covenarLS Cumu at!v~~ y ., ).jll:~atlons') Y enoer pursuan ro me Loan Gonu <;:eIlgrormssory
<br />Note described above and any amenclrnents thereto. This Assignment is made so!e!v to S'8cum
<br />pS-lfol"manCe of the ObliqaUons and is rnade subject to the fol!ovving terms, cov&nants :and
<br />conditions:
<br />
<br />1. Ov:ner shari deliver the original Certificate of Deposit to Lender upon the eXHcution of this
<br />,4.s:~i~lnmenL This I\ssignrnent shaH continue until Lender specificai!y terminates th'2:,eGurity
<br />int.en?st in the Collateral in a writing signed by Lender.
<br />
<br />2 Lender sha!1 b'3 entitled to notify the Bank to pay Lender any monies owing O.,t,;Trcr Und(Si
<br />the CHrtificate of Deposit in the event of a default under the Obligations, The l.ender ~;h2.!1 apply
<br />such monies first to costs assoc~8teci ,;vith collection, includina reasr.mab1& aHGrnm;'::~ fHes. next
<br />- :.
<br />to outstandin9 interest, and thE:on to thE~ principal sum of Hie Loan. in tha event that Ovvner
<br />possesses or r~iceivE~s possession of any instruments or other remittances vvith respect (0 tho
<br />CertificEte of Deposit fol!owino tho aivina of such notification, Owner shaH hold SLF::h !f1struments
<br />___ '""' 'J
<br />and other mmittances in trust for LHnder apart from Owner's On1er property I endorse iht~
<br />inst,ulTlents and other remittanc;es m L.ender, and immediate~y provide Lende:- with Pm,2,t~SS;C:Tl
<br />of the instrurnents allel other remittances.
<br />
<br />3. The owner shail be in default under this Assiamnent upon the occurrence of Bnv D~:ihJ
<br />v ,
<br />fe;ijO',v;;"lrJ Aveni'", 0r ('v-O\nr!i-l;O"'I~' (~\ .r";!u""e o~ """nl'S;;:;t.",n to ITlpko arlv nayrn"~""l ,t "'"lr-lt~,. ~hA j a::rl'"
<br />~ .....-! ~..!. i;",'" " .....oJ -,1. ~ r .~J!_,,_r ~ ..... \c.'~lIOI l.~ I~ ".II -w!"" fi_~."'__!' '1-_. .! tv'C "v I'. U3 ,...."""', t, ,""', ...........uo, I
<br />
<br />('n~itr::;c.t!Prnri""I':;~""rv ~i.jnfc:' \iIlh8P ,do 1""\' i!'''l) dct~lllt I'n ,hIe Df,'Jy'rl~';::''''''+ f"I'" ()'e..-f;or;Yl';~r',-,p nf ;::;n;/
<br />U_.I l.o1. vl~. ...._\....../ ,,~'-'~\,.9 ~~I~....! ._,,-,~>: \r"; .1.... CA.'\.." I "-I ~. U I J.,,,,'IL '-"I,... l. 1:.C...I_,-, ~-. ~....?
<br />oblination, CO\lf..mant, aqreernent Dr i:abilitv' containHd or reft3rred to in the L.oan
<br />.;:1 .... ~
<br />C.onlr~c.''iD(oor'<'~s'''''Jt''' NlotE" f,"'\ f}-:c. n"I'~II.I'n'" (-f a. 11Y le\I" ~e~zll~6 ..,r aH""!",hr'TC-r":' ''''''1 'h,~. r:1......!f:::;tr'r~~I'..
<br />"', a".L.; J ~'t ;:;" 'J ~ 'I', \v/ \..,.... ''''-''''If.: :::~ J. . y, ~ ....._,rll~::~ .....1 ;';"',~l.-_"", !I{J.~~ ',.JI ~_.,..,' ~-,'. .',[.>J:...-....-.\.;i~,
<br />
<br />(d) the O\rvnei becomjnQ inso~vent O( unable to pay debts as th~~y rnsture.
<br />
<br />4, OWPAr hRrf~bH ;"-;["1>"'j .nints i E'(;d~!. ;::l,';: !'tt>: atto~1 neY"'I'n-t"ac.t to e' nr!O'i:CA Hle O'\Mnc;r':~ [1:;"";"1;" nn ~l![.
<br />..P . ._L'. .._.1' ,,. J "'f_r'/.---., ._., ......_. __ .'... _ . I.... __t ..'\.1..... \.1 ~, ~.......-.... ....f' I .... "-'--' """'..
<br />
<br />instruments and other r(;~mjttancl=!s iX;\iabi~~ to Ownm with resor:ct to the CertifiCEiia Df O,i3Dosit
<br />. /\._-, ,;' -'"~.J .. - . . . _. - ~
<br />This pOWGf" of attornf.~Y is coupkKl wiih an interest and is irrevocable.
<br />
<br />.APPENDIX 4 .
<br />303 Main. Lyons, Colorado 80540 . (303) 823-9800. FAX (303) 823-9700
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