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<br />7. This Assignment shall be binding upon Owner and its successors, assigns, trustees, and <br />receivers. <br />8. This Assignment shall be construed in accordance with the laws of the State of Colorado. <br />9. The Owner and Lender specifically request the Bank to honor and accept this Assignment and <br />its terms. <br />Executed this ~ day of ApR r i 2000. <br />SEAL <br />Silt Water Conservancy District Water Activity <br />Enterprise <br />gy . ~,_______ . ,~j~-~' <br />~ Norman H. Hunt, President <br />Attest: <br />~' <br />By <br />Pearl Knight, S retary ~~~ <br />ACKNOWLEDGMENT B? <br />1 ~ <br />By its officers signature below, the No ("Bank") acknowledges that <br />it has received a copy of the foregoing Assignment, and agrees that, upon notice from the <br />Colorado Water Conservation Board ("CWCB") that the Owner is in default under its Loan <br />Contract with the CWCB and that the CWCB is exercising its right under the Assignment to <br />withdraw funds contained in the Certificate of Deposit, the Bank shall pay such funds directly to <br />the CWCB until advised otherwise by the CWCB and the Owner. The Bank acknowledges that <br />the Certificate of Deposit Accour~t is a special deposit and that the funds deposited therein are to <br />be used solely to secure Owner's Loan from the CWC6, and waives any right of setoff it may <br />have in and to the Account. <br />Attest: <br />BafIIC: NORWEST BANK COLORADO, N.A. <br />B 1 `~ ~ ~ ~~~P-~es~ent <br />Printed Name & Title !"~~Sp ~~e./~P 'OS C~/J/~~~~ <br />Date ~7 ~~~~~ <br />~ <br />By ~ ~ t-~-, ~ ~ ~ '~ ~~~-. ~~> <br />