PROJC00005

• Contract/PO #: C153721
• Contractor Name: Lyons, Town of
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Bill Number: SB 96-153
• Loan Projects - Doc Type: Contract Documents

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5. The modification or waiver of any of Owner's obligations or Lender's rights under this
Assignment must be contained in a writing signed by Lender. A waiver on one
occasion shall not constitute a waiver on any other occasion.

6. The rights and remedies of the Lender stated in this Assignment are in addition to any
other rights the Lender may have under the Loan Contract or any law.

7. This Assignment shall be binding upon Owner and its successors, assigns, trustees,
and receivers.

8. This Assignment shall be construed in accordance with the laws of the State of
Colorado.

9. The Owner and Lender specifically request the Bank to honor and accept this
Assignment and its terms.

Executed this

day of

Town of Lyons

SEAL

By

Nicholas Angelo, Mayor

Attest:

By

Teresa Andrews, Town Clerk

ACKNOWLEDGMENT By PIONEER BANK OF LYONS

By its officer's signature below, the Pioneer Bank of Lyons ("Bank") acknowledges that it
has received a copy of the foregoing Assignment, and agrees that, upon notice from the
Colorado Water Conservation Board ("CWCB") that the Town of Lyons is in default under
its Loan Contract with the CWCB and that the CWCB is exercising its right under the
Assignment to withdraw funds contained in the Certificate of Deposit, the Bank shall pay
such funds directly to the CWCB until advised otherwise. The Bank acknowledges that
the Certificate of Deposit Account is a special deposit and that the funds deposited
therein are to be used solely to secure Owner's Loan from Lender, and waives any right
of setoff it may have in and to the Account.

Pioneer Bank of Lyons
By
Printed Name & Title
Date

President

Attest:
By

Corporate Secretary