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<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 Colorado. <br /> <br />9. The Owner and Lender specifically request the Bank to honor and accept this Assignment <br />and its terms. <br /> <br />Executed this / () day of J ..... I Y 1998. <br /> <br />The Hawkeye Lateral Ditch Company, a <br />Colorado nonprofit corporation <br /> <br />By <br /> <br /> <br />(S EAL) <br /> <br />Attest: <br /> <br />BY~ q)~ <br />Corporate S retary <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />By its officer's signature below, the Grand Valley National Bank, Fruita, Colorado ("Bank") <br />acknowledges that it has received a copy of the foregoing Assignment, and agrees that, upon notice <br />from the Colorado Water Conservation Board ("CWCB") the Hawkeye Lateral Ditch Company is in <br />default under its Loan Contract with the CWCB and that the CWCB is exercising its right under the <br />Assignment to withdraw funds contained in the Certificate of Deposit, the Bank shall pay such funds <br />directly to the CWCB until advised otherwise. <br /> <br /> <br />Attest: <br /> <br />By ~~.J. _.li'nunl~ g()~ <br />d6rporate Secretary <br />