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<br />monies first to costs associated with collection, including reasonable attorney's fees, <br />next to outstanding interest, and then to the principal sum of the Loan. <br /> <br />5. The rights and remedies of the Assignee stated in this Assignment are in addition <br />to any other rights the Assignee may have under the Loan Contract or any law. <br /> <br />6. This Assignment shall be construed in accordance with the laws of the State of . <br />Colorado. <br /> <br />"', <br />,1 'J J "', <br />" ~:"':\"~':''''/,.,~~'>, <br /> <br />.....:.; ('";,:. .....--:-: \ <br />: "...' ("1 '.": "...- '~. <br />, ;.' ~ .,. ,.,..) ~ <br />. ,-' IJ ;.. I (. 't ; (,;". ~ <br />~ . .' ~ ->',: :: ~::,::;/ <br />,...-~ '. - ~..). <br />~ ", " ~ ." <br /> <br />7. The Assignor and Assignee specifically request Pioneer to honor and accept this <br />Assignment and its terms. <br /> <br />'xocut;' th;,~ d,y of ~ <br />~ ~ <br /> <br />THE TREMONT MUTUAL DITCH COMPANY <br /> <br />t:~) 8 <br /> <br />Etsoll Lake, President . - <br /> <br />,1996. <br /> <br />A . '..~'. <br /> <br />Sy <br /> <br />" <br />", <br /> <br />.... " <br /> <br />" ,',.. <br />.'t- <br /> <br />ATTEST: <br /> <br />"\, '...'.......~",'..,' ". ", <br /> <br />Sy; <br /> <br /> <br />Robert S. Chap.' <br /> <br />", <br /> <br />'.~ <br /> <br />ACKNOWLEDGEMENT BY PIONEER WATER AND IRRIGATION, INC. <br /> <br />Pioneer Water and Irrigation, Inc. ("Pioneer") has received a copy of the foregoing <br />Assignment, and agrees that, upon notice from the Tremont Mutual Ditch Company <br />("Company") and from the Colorado Water Conservation Board ("CWCS") that the <br />Company is in default under its Loan Contract with the CWCB and that the CWCS is <br />exercising its right under the Assignment to collect handling fees due from Pioneer <br />pursuant to the 1987 Agreement between Pioneer, the Company and Snyder-Smith <br />Ditch Company, Pioneer shall pay such monies directly to the CWCB until advised <br />otherwise. <br /> <br />Pioneer Water and Irrigation, Inc, <br /> <br />BY~~ k~~ President <br />Date: 7/;:<~/ 9/ <br />