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<br />. <br /> <br />. <br /> <br />5. The modification or waiver of any of Owner's obligations or Lender's rights under this <br />Assignment must be contained in a writing signed by Lender. A waiver on one occasion shall <br />not constitute a waiver on any other occasion. <br /> <br />6. The rights and remedies of the Lender stated in this Assignment are in addition to any <br />other rights the Lender may have under the Loan ContracUPromissory Note or any law. <br /> <br />7. This Assignment shall be binding upon Owner and its successors, assigns, trustees, and <br />receivers. <br /> <br />8. This Assignment shall be construed in accordance with the laws of the State of Colorado. <br /> <br />9. The Owner and Lender specifically request Pioneer Bank to honor and accept this <br />Assignment and its terms. <br /> <br />E~ecuied this / '7 day of <br /> <br />"'-<)Of&mJ.~.c, 1996. <br />TOWN OF LYONS <br /> <br />By.~l~ <br />Glenn Klepel, Mayor <br /> <br />ATTEST: <br /> <br /> <br />ACKNOWLEDGMENT BY PIONEER BANK OF LYONS <br /> <br />Pioneer Bank of Lyons ("Bank") has received a copy of the foregoing Assignment. and agr.ees <br />that, upon notice from the Colorado Water Conservation Soard ("CWCB") that the Town of <br />Lyons is in default under its Loan ContracUPromissory Note with the CWCB and that the CWeB <br />is exercising its right under the Assignment to withdraw funds contained in the Certificate of <br />Deposit, the Bank shall pay such funds directly to the CWCB until advised otherwise. <br /> <br />Pioneer Bank of Lyons <br /> <br /> <br />Date a/ j '11 C7. If' <br />