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<br />\\~' '., <br />h:;) <br /> <br />~ <br /> <br /><~)I <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 Contract/Promissory 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 />Executed this f 7 day of <br /> <br />....<:;0 pf:oJ1tJ,Jt{. , 1996. <br />TOWN OF LYONS <br /> <br />BY.~!~ <br /> <br />Glenn Klepel, Mayor <br /> <br />ATTEST: <br /> <br />By ~ <br /> <br /> <br /> <br />eman, Town Clerk <br /> <br />r\CKNO\NLEDGMENT BY PIONEER BANK OF LYONS <br /> <br />Pioneer Bank of Lyons ("Bank") has received a copy of the foregoing Assignment, and agrees <br />that, upon notice from the Colorado Water Conservation Board ("CWCS") that the Town of <br />Lyons is in default under its Loan Contract/Promissory Note with the CWCS and that the ewes <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 CWCS until advised otherwise. <br /> <br />Pioneer Bank of Lyons <br /> <br />Sy <br />Jan <br /> <br /> <br />Date o./l~lC( If? <br />