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<br />., <br /> <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 --8:- day of ~\>\. <br /> <br />1997. <br /> <br />PINON MESA RANCHES COMMUNITY ASSOCIATION, <br />a Colorado nonprofit corporation <br /> <br />SE~ <br /> <br />By ./'.AA;A'LA a. J%~ /h.LAZ-- <br />. <br />Charles A. Palmer, President <br /> <br />ATTEST: <br /> <br />By ~ 'G~t\'" ~~""-t , <br />Irene Palmer, Secretary <br /> <br />~ <br /> <br />~ ~jCKNOWLEDGMENT BY <br /> <br />The ~'-- {"Bank"} has received a copy of the foregoing Assignment, and <br />agrees that, upon notice from the Colorado Water Conservation Board {"Secured Party"} <br />that Pinon Mesa Community Ranches Association {"Debtor"} 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 <br />directly to the CWCB until advised otherwise. The Bank acknowledges that the Certificate <br />of Deposit account is a special deposit and that the funds deposited therein are to be used <br />solely to secure Debtor's loan from Secured Party, and waives any right of setoff it may <br />have in and to the Certificate of Deposit Account. <br /> <br />Bank ~ ~;/ ~, <br />ByL~.~ <br /> <br />Date 9~ y- <j 7 <br /> <br />Ut ~ President <br /> <br />ATTEST: <br />By C ~.4'U//h. 3/2.0Cvi. <br />