C153748 Paid in Full Loan Compliance Confirmaton

• Contract/PO #: C153748
• Contractor Name: Excelsior Irrigating Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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7. The rights and remedies of the Secured Party stated in this Assignment are in addition to
any other rights the Secured Party may have under the Loan Contract or any law.
8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, and
receivers.
9. This Assignment shall be construed in accordance with the laws of the State of Colorado.
10. The Debtor and Secured Party specifically request the Bank to honor and accept this
Assignment and its terms.
Executed this day of October 2000.
The Excelsior Irrigating Company, a Colorado
mutual ditch company
( SEAL )
By
C. R. Evans, President
Attest:
By
Erin Evans, Secretary
ACKNOWLEDGMENT BY BANK
By its officer's signature below, the ("Bank") acknowledges
1. That it has received a copy of the foregoing Assignment;
2. That neither the Debtor nor anyone else (except Secured Party) has any right to withdraw any
funds from the Account listed above until the Secured Party releases this agreement in writing,
except that, at the Debtor's request, the Bank shall allow the transfer of the annual Loan payment
to Secured Party;
3. That upon notice from the Secured Party that the Debtor is in default under its Loan Contract with
Secured Party and that Secured Party is exercising its right under the Assignment to withdraw
funds contain in the Account, the Bank shall pay such funds directly to Secured Party until
advised otherwise by both Secured Party and Debtor;
4. That the Acco spvia,d osit and that the funds deposited therein are to be used solely
for Debtor's re•-ry ' .to 0 ured Party of the Loan; and
5. That it waives any net' t may have in and to the Account.
'- 1-rti yar, Bank
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w s '' �wse . , ,4,..._. i By , President
Printed Name
Date
Attest:
By