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5. The <br />Assignm <br />shall not <br />6. The <br />other rig <br />7. This <br />receivers <br />8. This <br />Colorado <br />lification or waiver of any of Owner's obligations or Lender's rights under.this <br />must be contained in a writing signed by Lender. A waiver on one occasion <br />stitute a waiver on any other occasion. <br />hts and remedies of the Lender stated in this Assignment are in addition 'to any. <br />the Lender may have under the Loan Contract /Promissory Note or any law. <br />>signment shall be binding upon Owner and its successors, assigns, trustees, and <br />ignment shall be construed in accordance with the laws of the' State ' of <br />9. The lowner and Lender specifically request the Bank to honor and accept this <br />Assianm nt and its terms. <br />ATTEST) <br />LM <br />this LD t� day of December 1996. <br />MANCOS WATER CONSERVANCY DISTRICT <br />WATER ACTIVITY ENTERPRISE <br />Nola id Alexander, Secretary <br />Mancos <br />that, up <br />Water <br />Enterpri <br />the CW <br />Certifica <br />otherwi <br />Date <br />ACKNOWLEDGEMENT BY MANCOS VALLEY BANK <br />Valley Bank( "Bank ") has received a copy of the foregoing Assignment, and agrees <br />n notice from the Colorado Water Conservation Board ( "CWCB ") that the Mancos <br />nservancy District or the Mancos Water Conservancy District Water 'Activity <br />is in default under its Loan Contract /Promissory Note with the CWCB and that <br />B is exercising its right under the Assignment to withdraw funds contained ' in the <br />e of Deposit, the Bank shall pay such `funds directly to the CWCB until advised <br />e. <br />IYIGI IVVJ V C A ncy ua"M - <br />B„� + President <br />