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<br />6. The rights and remedies of the Lender stated in this Assignment are in addition to any <br />other 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, <br />and receivers. <br /> <br />8. This Assignment shall be construed in accordance with the laws of the State of <br />Colorado. <br /> <br />9. The Owner and Lender specifically request the Bank to honor and accept this <br />Assignment and its terms. <br /> <br />Executed this <br /> <br />day of January 1998. <br /> <br />SEAL <br /> <br />The Farmers Independent Ditch Company, <br />a Colorado nonprofit corporation <br /> <br />ATTEST: <br /> <br /> <br />By <br /> <br /> <br />Frank A. Eckhardt, Jr.. Pre ident <br /> <br />By <br />Ron Id F. Otto, Corporate Secretary <br /> <br />ACKNOWLEDGMeNT BY BANK <br />By its officer's signature, the Bank One, Colorado; NA ("Bank") acknowledges that it has <br />received a copy of the foregoing Assignment, and agrees that, upon notice from the <br />Colorado Water Conservation Board ("Secured Party") that The Farmers Independent <br />Ditch Company ("Debtor") is in default under its Loan Contract with the CWCB and that the <br />CWCB is exercising its right under the Assignment to withdraw funds contained in the <br />Certificate of Deposit, the Bank shall pay such funds directly to the CWCS until advised <br />otherwise. The Bank acknowledges that the Certificate of Deposit account is. a special <br />deposit and that the funds deposited therein are to be used solely to secure Debtor's loan <br />from Secured Party, and waives any right of setoff it may have in and to the Certificate of <br />Deposit Account. <br /> <br /> <br />NamefTitl~ <br />Date -J/<S7-'" )Iv <br /> <br />ATTEST: <br />By ~Q.J/1 ala. . tt;r--- <br />I <br />