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<br />'. <br /> <br />6. Debtor shall not sell, transfer, assign, give, or otherwise dispose of any of the Collateral or <br />any interest therein as long as this agreement is in effect, unless it obtains the written consent . <br />of the Secured Party. <br /> <br />7. This agreement shall be construed in accordance with the laws of the State of Colorado. <br /> <br />8. The Debtor and Secured Party specifically request the Escrow Agent to honor and accept <br />this agreement and its terms. <br /> <br />Executed this~ day of ;viti 1997. <br /> <br />HORSE CREEK WATER USERS ASSOCIATION, <br />a Colorado nonprofit corporation <br /> <br />ByaJ~~ <br /> <br />Don Cl V. John? resident <br /> <br />SEAL <br /> <br />A T,EST; <br />BY~~~~ <br /> <br />Nom.,<lF. Summers, Secretary-Treasurer <br /> <br />ACKNOWLEDGMENT BY THE FIRST NATIONAL BANK OF LIMON <br /> <br />By its officer's signature below, the First National Bank of Limon ("Escrow Agent") <br />acknowledges that it has received a copy of the foregoing agreement and agrees that neither <br />the Debtor nor anyone else (except Secured Party) has any right to withdraw any funds from <br />the principal of the account listed above ("Account") until the Secured Party releases this <br />agreement in writing or approves, in writing, the disbursement by the Escrow Agent of a <br />portion of the funds from the principal of the account as provided for in the above-referenced <br />Escrow Agreement. The Bank waives any right of setoff it may have in and to the Account. <br />The Bank also acknowledges that the Debtor may withdraw interest earned by the Account. <br /> <br /> <br />ATTEST: <br /> <br />/1;/ ',1 ?7, <br />By 1"}/ a. -C. , --7~vee'-<l <br />