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<br />/~..\ <br /> <br />"" <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 />8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, and <br />receivers. <br />9. This Assignment shall be construed in accordance with the laws of the State of Colorado. <br />10. The Debtor and Secured Party specifically request the Bank to honor and accept this <br />Assignment and its terms. <br />Executed this \ B day of _~ '3 (> s:\ 2000, <br /> <br />(S EAL) <br /> <br />Jackson Lake Reservoir and Irrigation Company, a <br />Colorado nonprofit corporation <br /> <br /> <br />By f"~~t~~L <br /> <br />Attest: <br /> <br />By ~~~ <br /> <br />Steve Bolinger, Corp rate Secretary <br /> <br />ACKNOWLEDGMENT By BANK <br /> <br />By its officer's signature below, the Community First National Bank ("Bank") acknowledges that it has received a <br />copy of the foregoing Assignment and agrees that neither the Debtor nor anyone else (except Secured Party) has <br />any right to withdraw any funds from the above-described Account listed above until the Secured Party releases <br />this agreement in writing, except that, at the Debtor's request, the Bank shall allow transfers of funds from the <br />Account to Secured Party. The Bank further agrees that, upon notice from Secured Party that the Debtor is in <br />default under its Loan Contract with Secured Party and that Secured Party is exercising its right under the <br />Assignment to withdraw funds contained in the Account, the Bank shall pay such funds directly to Secured Party <br />until advised 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 repaymentto the Secured <br />Party of the Loan, and waives any right of setoff it may have in and to the Account. <br /> <br />Community First National Bank <br />POBox 550 <br />Fort Mogan CO 80701 <br />970/867-8281 <br /> <br />By <br />Pri <br />Date <br /> <br /> <br />VICE President <br />JEFF MORFORD. VICE PRESIDENT <br /> <br />Attest: <br /> <br />By J,J\i1.1'~ YJ7f47d/~v <br />Corp te Secretary <br />