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<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 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 17 tJ-day of September 1998. <br /> <br />SEAL <br /> <br />The Western Mutual Ditch Company, a Colorado <br />nonprofit corporation <br /> <br />BY~~k~nt ~, <br /> <br />Attest: <br /> <br />By Lf1'J.! ha-O c. Jr;-)<j ( Cl.Y.J? f1)( ('if <br />Corporate Secretary <br /> <br />J/ <br />. ~~- <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />By its officer's signature below, the Ea ton Bank - Wes t ("Bank") acknowledges that it has <br />received a copy of the foregoing Assignment, and agrees that, upon notice from the Colorado Water <br />Conservation Board ("CWCB") that The Western Mutual Ditch Company is in default under its Loan <br />Contract with the CWCB and that the CWCB is e:o<ercising its right under the Assignment to withdraw <br />funds contained in the Certificate of Deposit, the Bank shall pay such funds directly to the CWCB until <br />advised otherwise, The Bank acknowledges that the Certificate of Deposit Account is a special deposit <br />and that the funds deposited therein are to be used solely to secure Debtor's Loan from Secured Party, <br />and waives any right of setoff it may have in and to the Account <br /> <br /> <br />PrintedName&Title Christopher W Jeavons <br />Date 9/24/98 Senior Vice President <br /> <br />Attest: <br />By ~uuU A. !JuLiu/'Pun c--C <br />