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<br />rj <br /> <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 <br /> <br />1999. <br /> <br />The Farmers Ind pendent Ditch Company, <br />a Colorado nonprofit corporation <br /> <br />SEAL <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 BANK <br /> <br />By its officer's signature below, WELD COUNTY BANK, EVANS, COLORADO _ ("Bank") 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 <br />the CWCB is exercising its right under the Assignment to withdraw funds contained in <br />the Certificate of Deposit, the Bank shall pay such funds directly to the CWCB until <br />advised otherwise by the CWCB and the Owner. The Bank acknowledges that the <br />Certificate of Deposit account is a special deposit and that the funds deposited therein <br />are to be used solely to secure Debtor's loan from the CWCB, and waives any right of <br />setoff it may have in and to the Account. <br /> <br />Weld County Bank <br />3635 23'd Avenue <br />Evans, Colorado <br />970/506-1000 <br /> <br />By <br />Print Name/Title <br />Date <br /> <br />. President <br /> <br />Attest <br /> <br />By <br />