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<br />rights the Lender may have under the Loan Contract or any law. <br /> <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 If/.. Th. day of H A ~ <br /> <br />1999. <br /> <br />The Wood Lake Mutual Water & Irrigation <br />Company, a Colorado nonprofit corporation <br /> <br />BY~~' <br />Ruben Hergert, Pre ident <br /> <br />ATTEST: <br /> <br />By (lulu r;JV ; <br />Vicki Mill, S cretary <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />ATTEST: <br /> <br />By ~ ><< / <br />.../l!l /' ' <br /> <br />By its officer's signature below, the Eaton Bank ("Bank") acknowledges that it has received a copy of the <br />foregoing Assignment, and agrees that, upon notice from the Colorado Water Conservation Board <br />("Secured Party") that The Wood Lake Mutual Water & Irrigation Company (UDebtor") is in default under <br />its Loan Contract with the CWCB and that the CWCB is exercising its right under the Assignment to <br />withdraw funds contained in the Certificate of Deposit, the Bank shall pay such funds directly to the <br />CWCB until advised otherwise. The Bank acknowledges that the Certificate of Deposit account is a <br />special deposit and that the funds deposited therein are to be used solely to secure Debtor's loan from <br />Secured Party, and waives any right of setoff it may have in and to the Certificate of Deposit Account. <br /> <br />Eaton Bank. . J S~ V? <br /> <br />By0d1..~{~. ~ President <br />Print Namemtle' ;.. A . l?,b <br />Date . ;n'{ jfVt; PRr: ~ ri/-C,MIf leI( <br /> <br />S~/~ ~ 9'( <br />