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<br />'-\ <br /> <br />7. The rights and remedies of the Secured Party stated in this Assignment are in addition <br />to any other rights the Secured Party may have under the Loan Contract or any law. <br /> <br />8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, <br />and receivers. <br /> <br />9. This Assignment shall be construed in accordance with the laws of the State of <br />Colorado. <br /> <br />10. The Debtor and Secured Party specifically request the Bank to honor and accept this <br />Assignment and its terms. <br /> <br />Executed this _ day of 2000. <br /> <br />The Farmers Independent Ditch Company, a <br />Colorado nonprofit corporation <br /> <br />(S E A L) <br /> <br />By <br /> <br />Frank Eckhardt, Jr" President <br /> <br />ATTEST: <br /> <br />By <br />Ronald F. Otto, Corporate Secretary <br /> <br />ACKNOWLEDGMENT By THE BANK <br /> <br />By its officer's signature below, Weld County Bank, Evans, Colorado ("Bank") has received a copy <br />of the foregoing Assignment and agrees that neither the Debtor nor anyone else (except Secured <br />Party) has any right to withdraw any funds from the above-described Account listed above until <br />the Secured Party releases this agreement in writing, except that, at the Debtor's request, the <br />Bank shall allow the transfer of the annual Loan payment to Secured Party, The Bank further <br />agrees that, upon notice from Secured Party that the Debtor is in default under its Loan Contract <br />with Secured Party and that Secured Party is exercising its rights under the Assignment to <br />withdraw funds contained in the Account, the Bank shall pay such funds directly to Secured Party <br />until advised otherwise by both Secured Party and Debtor. The Bank acknowledges that the <br />Account is a special deposit and that the funds deposited therein are to be used solely for Debtor's <br />repayment to the Secured Party of the Loan, and waives any right of setoff it may have in and to <br />the Account. <br /> <br />Weld County Bank <br />3635 23'. Avenue <br />Evans, CO 80620 <br />970/506-'000 <br /> <br />By <br />Printed Name/Title <br />Date <br /> <br />. President <br /> <br />ATTEST: <br /> <br />By <br />