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~.,y~!' 1q 5. The modification or waiver of any of Owner's obligations or Lender's rights under this Assignment must be contained in a writing signed by Lender. A waiver on one occasion shall not constitute a waiver on any other occasion. 6. The rights and remedies of the Lender stated in this Assignment are in addition to any other rights the Lender may have under the Loan Contract or any law. 7. This Assignment shall be binding upon Owner and its successors, assigns, trustees, and receivers. 8. This Assignment shall be construed in accordance with the laws of the State of Colorado. 9. The Owner and Lender specifically request the Bank to honor and accept this Assignment and its terms. Executed this /~ day of ~%~ ,Zc- ~ ggg. The Farme a nee Canal Company, a Colorado c SEAL ~~ Steve Wagne resident Attest: ~~ By '~ `~ Sandra Ils; Secretary ACKNOWLEDGMENT BY BANK By its officer's signature below, the First Security Bank, Sterling, Colorado ("Bank") acknowledges that it has received a copy of the foregoing Assignment, and agrees that, upon notice from the Colorado Water Conservation Board ("CWCB") that the Farmers Pawnee Canal Company is in default under its Loan Contract with the CWCB and that the CWCB is exercising its right under the Assignment to withdraw funds contained ~n the carcinoato of Deoosit. the R~~r~ shall pay such funds directly to the CWCB until advised otherwise. The Bank acknowledges that the Certificate of Deposit Account is a special deposit and that the funds deposited therein are to be used solely to secure Owner's Loan from Lender, and waives any right of setoff it may have in and to the Account. Ai*.est: ~~ ~~~ . gy //- ",~ Cr~'g Lichtenwalner Cashier First Security Bank -Sterling, Colorado BY ~ ~~-~- r tip- President Printed Name & itle S~F ~.~ (' cif, . ~ ~r rs,,r'~.~. -~ Date ~~- ,~/ z ~% c~'