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<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 11!day of -4"VUd <br /> <br />1999. <br /> <br />SEAL <br /> <br />By <br /> <br /> <br />Attest: <br /> <br />By <br />Susan P. Alvey, <br /> <br /> <br />ACKNOWLEDGMENT By BANK <br /> <br />By its officer's signature below, the First State Bank of Hotchkiss ("Bank") acknowledges that it <br />has received a copy of the foregoing Assignment and agrees that neither the Debtor nor anyone <br />else (except Secured Party) has any right to withdraw any funds from the above-described <br />Account listed above until the Secured Party releases this agreement in writing, except that, at the <br />Debtor's request, the Bank shall allow transfers of funds from the Account to Secured Party. The <br />Bank acknowledges that the Acccunt is a special deposit and that the funds deposited therein are <br />to be used solely for Debtor's repayment to the Secured Party of the Loan, and waives any right <br />of setoff it may have in and to the Account. <br /> <br />First State Bank of Hotchkiss <br />/ <br />~~ P~~~ <br /> <br />P Inted Name & Title John R. McCallister, <br /> <br />July 8, 1999 <br /> <br /> <br />