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<br />to the Certificate of Deposit. This power of attorney is coupled with an <br />interest and is irrevocable. <br />5. The modification or waiver of any of Owner's obligations or Lender's rights <br />under this Assignment must be contained in a writing signed by Lender. A <br />waiver on one occasion shall not constitute a waiver on any other occasion. <br />6. The rights and remedies of the Lender stated in this Assignment are in <br />addition to any other rights the Lender may have under the Loan Contract or <br />any .law. <br />7. This Assignment shall be bi ner and its successors, assigns, <br />trustees, and receivers. <br />8. This Assignment shall be constru d ce with the laws of the State <br />of Colorado. <br />9. The Owner and Lenders ci ically request the Bank to honor and accept this <br />Assignment and its terms. <br />Executed this ~ day of ~~,~c,~.J 1997. <br />DEBTOR: The Greeley and Loveland Irrigation <br />Company, a Colorado nonprofit <br />corporation <br />ATTEST: (SEAL) <br />,Corporate Secretary <br />~' Q~~ <br />David Bernhardt, President <br />ACKNOWLEDGMENT BY BANK <br />By its officer's signature below, the First National Bank of Greeley (Bank) <br />acknowledges that it has received a copy of the foregoing Assignment, and <br />agrees that, upon notice from the Colorado Water Conservation Board ("CWCB") <br />that the Greeley and Loveland Irrigation Company is in default under its Loan <br />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 <br />shall pay such funds directly to the CWCB until advised otherwise. <br />First National Bank of Greeley <br />By ~~~~~ <br />TSeni~or ice, President <br />