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<br />6, The rights and remedies of the Lender stated in this Assignment are in addition to any other <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 and <br />its terms. f <br /> <br />Executed this l day of <br /> <br />J1, <br /> <br />Otero <br /> <br /> <br />Robert M. Va ez, President <br /> <br />SEAL <br /> <br />By <br /> <br />Attest: <br /> <br />BY~~C~ <br /> <br />Corporate Secretary <br /> <br />ACKNOWLEDGMENT BY BANK ~ <br /> <br />By its officer's signature below, the's!' ~1. fl. ~ b-~ank") acknowledges <br />that it has received a copy of the foregoing Assignment, and agree that, upon notice from the <br />Colorado Water Conservation Board ("CWCB") that the Owner is in default under its Loan <br />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 <br />the CWCB until advised otherwise by the CWCB and the Owner. The Bank acknowledges that <br />the Certificate of Deposit Account is a special deposit and that the funds deposited therein are to <br />be used solely to secure Owner's Loan from the CWCB, and waives any right of setoff it may <br />have in and to the Account.' f / I I J <br />Bank: (~ /A--f>W f7~6 t, a..~/ h:rcJc- <br /> <br />BY./t.t' C ,(~ 1I/u.. .President <br />Printed Name & Title .f'e-. tt' C. ["'-It,, 1/ tc.-e. ~;k;ff <br />Date ~- t./.- ZCJ(j() , <br /> <br />::)~ aft <br /> <br />I <br /> <br />,I <br />