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<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 other <br />rights the Lender may have under the Loan Contract 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 the Bank to honor and accept this Assignment <br />and its terms. <br /> <br />Executed this )+ day of ~TLt.dL~ 1998. <br /> <br />By <br /> <br /> <br />a nee Canal Company, a Colorado c <br /> <br />SEAL <br /> <br />Attest: <br /> <br />BY~.#.J~ ljij <br />Sandra lis; Secretary <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />By its officer's signature below, the First Security Bank, Sterling, Colorado ("Bank") <br />acknowledges that it has received a copy of the foregoing Assignment, and agrees that, upon <br />notice from the Colorado Water Conservation Board ("CWCB") that the Farmers Pawnee Canal <br />Company is in default under its Loan Contract with the CWCB and that the CWCB is exercising <br />its right under the Assignment to withdraw funds containeClln t,he CenlnoatQ of Deoosit thA Rom\< <br />shall pay such funds directly to the CWCB until advised otherwise. The Bank acknowledges that <br />the Certificate of Deposit Account is a special deposit and that the funds deposited therein are to <br />be used solely to secure Owner's Loan from Lender, and waives any right of setoff it may have <br />in and to the Account <br /> <br />First Security Bank - Sterling, Colorado <br /> <br /> <br />By President <br />Printed Name & ItleSfev~ ~)1t:<y- Pr-s;j,j <br />, <br />Date (. /;7.-/78 <br /> <br />By <br /> <br /> <br />Lichtenwalner Cashier <br /> <br />Attest: <br />