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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 and <br />its terms, 'f1.- " <br /> <br />Executed this~ day of ---.rJ rn~flvlL{u 2000, <br /> <br /> <br />By <br /> <br /> <br /> <br />::W~;fo ~JL <br /> <br />M yor '-- <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />Sy its officer's signature below, the Union Colony Sank ("Sank") acknowledges that it has received a copy <br />of the foregoing Assignment, and agrees that, upon notice from the Colorado Water Conservation Soard <br />("CWCS") that the Owner is in default under its Loan Contract with the CWCS and that the CWCS is <br />exercising its right under the Assignment to withdraw funds contained in the Certificate of Deposit, the <br />Sank shall pay such funds directly to the CWCS until advised otherwise by the CWCS and the Owner. The <br />Sank acknowledges that the Certificate of Deposit Account is a special deposit and that the funds <br />deposited therein are to be used solely to secure Owner's Loan from the CWCS, and waives any right of <br />setoff it may have in and to the Account. <br /> <br />Union Colony Bank <br />100 Johnstown Center Drive <br />Johnstown, CO 80534 <br />970-587-4661 <br />.//Y ,1m~.r.1r <br />By /:1"b:, ,President <br />Printed Na~e Title;1f,(l)~/:r cnr,J(/ &l1r,j /tf.5/(/<,rJ- <br /> <br />Date / t/2 III CO <br /> <br />~~ <br />