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<br />, . ~1 <br />. <br /> <br />6. The modification or waiver of any of Debtor's obligations or Secured Party's rights <br />under this Assignment must be contained in a writing signed by Secured Party. A <br />waiver on 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 <br />to 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, <br />and receivers. <br /> <br />9. This Assignment shall be. construed in accordance with the laws of the State of <br />Colorado. <br /> <br />10. The Debtor and Secured Party specifically request the Bank to honor and accept this <br />Assignment and its terms. <br /> <br />Executed this f.: day of <br /> <br />SEAL <br /> <br />v1'\N.'J!<ti J-Mo. <br />Le/ x Cre k Water UsersJssociation <br /> <br />By '''"' IZIi a~/\ <br />Thomas M. Alvey, r ident <br /> <br /> <br />Attest: <br />/..--;W/(>/J <br />By ._~,<~..- /(,[.~/ j1~ <br />--" /" .... <br />Susan P. Alve~J::oF' ate Secretary <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />By its officer's signature below, the First State Bank of Hotchkiss ("Bank") acknowledges <br />that it has received a copy of the foregoing Assignment and agrees that neither the <br />Debtor nor anyone else (except Secured Party) has any right to withdraw any funds from <br />the above-described Account listed above until the Secured Party releases this <br />agreement in writing, except that, at the Debtor's request, the Bank shall allow transfers <br />of funds from the Account to Secured Party. The Bank acknowledges that the Account is <br />a special deposit and that the funds deposited therein are to be used solely for Debtor's <br />repayment to the Secured Party of the Loan, and waives any right of setoff it may have in <br />and to the Account. <br /> <br />First State Bank of Hotchkiss <br /> <br /> <br />resident <br />P Inted Name & Title;:TA..(" R,/>t., C".uI.-,I'r /;,,,. <br />1)ate / - .F - () C' <br /> <br />Attest: <br /> <br /> <br />P. C.(l.Dh~ <br />I-S-()O <br /> <br />**** <br /> <br />Page 11 of 2 <br /> <br />Amendment No.1 <br />