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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 <br />shall 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 ri~hts 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 <br />Colorado. <br /> <br />9. The Owner and Lender specifically request the Bank to honor and accept this <br />Assignment and its terms. <br /> <br />Executed this J CJ day of 0<:..+0 bet- <br /> <br />, 1996. <br /> <br />MUTUAL MESA LATERAL ENTERPRISE <br /> <br /> <br />12~ <br /> <br />ATTEST: <br /> <br />By SJ pOD Il J A1.(J}/?'/1 ~ <br />Della Grams, Secretary <br /> <br />ACKNOWLEDGEMENT <br /> <br />Palisade National Bank ("Bank") has received a copy of the foregoing Assignment, and <br />agrees that, upon notice from the Colorado Water Conservation Board ("CWCB") that the <br />Orchard Mesa Irrigation District or the Mutual Mesa Lateral Enterprise is in default under its <br />Loan Contract/Promissory Note with the CWCB and that the CWCB is exercising its right <br />under the Assignment to withdraw funds contained in the Certificate of Deposit, the Bank <br />shall pay such funds directly to the CWCB until advised otherwise. <br /> <br />Palisade National Bank <br /> <br />Date: <br /> <br />OCT. 30 1:196 <br /> <br />;f'un~ >>.i/~ <br />By: 'i7:- It ~n-President <br />