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<br />one occasion shall not constitute a waiver on any other occasion. <br /> <br />7. The rights and remedies of the Secured Party stated in this Assignment are in addition to <br />any other rights the Secured Party may have under the Loan Contract or any law, <br /> <br />8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, and <br />receivers. <br /> <br />9. This Assignment shall be construed in accordance with the laws of the State of Colorado, <br /> <br />10. The Debtor and Secured Party specifically request the Bank to honor and accept this <br />Assignment and its terms. <br />Executed,this qti- day of &c,;folu.y- 2000. <br />, {v ~ F', "" <br />. ...' \:'::;;;;';:;;' ":'" " Plumb and Dailey Ditch Company, a <br />/' ej"":' .' ".:?,~,::: . _. Colorado niJProfit corporation, <br /> <br />j ~! '8' 8~ [, r' '.:0 , By ./i1j1J~~,!I'" <br />/\ "3 \ \J..~~~.: -,-, ...' .;i j Les Williams, President <br />. Att~~:.. '.) .. :;, '.', c~, ,/ <br />.- \,,: 'l' ,>:,:~."......."..,"'~'> \:; ~// <br /> <br />B~~:~~6~~0~~te Secretary <br /> <br />ACKNOWLEDGMENT By BANK <br /> <br />By its officer's signature below, the FIRST NATIONAL RANK OF ("Bank") acknowledges that it <br />has received a copy of the foregoing Assignment and agnMl!'ffilH1Heither the Debtor nor anyone else <br />(except Secured Party) has any right to withdraw any funds from the above-described Account listed <br />above until the Secured Party releases this agreement in writing, except that, at the Debtor's request, <br />the Bank shall allow transfers of funds from the Account to Secured Party. The Bank further agrees <br />that, upon notice from Secured Parly that the Debtor is in default under its Loan Contract with <br />Secured Party and that Secured Party is exercising its right under the Assignment to withdraw funds <br />contained in the Account, the Bank shall pay such funds directly to Secured Party until advised <br />otherwise by both Secured Party and the Debtor. The Bank acknowledges that the Account is a <br />special deposit and that the funds deposited therein are to be used solely for Debtor's repayment to <br />the Secured Party of the Loan, and waives any right of setoff it may have in and to the Account. <br /> <br />Bank: ~jQ=ONAT' RANK OF TOW:MON"I' <br />t.. \/LC~ ~rM,1-- <br />By Presiden m....Ak.j ~ ( <br />PrinledName&Titler~);I\.""" 5",~1I..",--I!.{>, ~(M,h(l\".';j' <br /> <br />Dale /0 - L{ - 00 <br /> <br />Attest: <br /> <br />B~/w~_~~ <br /> <br />Corporate Secretary <br />