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<br />,~ . <br /> <br />8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, and receivers. <br />9. This Assignment shall be construed in accordance with the laws of the State of Colorado. <br />10. The Debtor and Secured Party specifically request the Bank to honor and accept this Assignment and <br />its terms. <br /> <br />Executed this ~ dayof.5.e r ~ rrnlror1997. <br /> <br />PINON MESA RANCHES COMMUNITY ASSOCIATION, a <br />Colorado nonprofit corporation <br /> <br /> <br />By ..('~/I~ a, %~ <br />Charles A. Palmer, President <br /> <br />o <br />/~' <br /> <br />ATTEST: <br /> <br />By ~t->M..~~Io....... - }"". <br />Irene Palmer, Secretary <br /> <br />d ACKNOWLEOGMENT By THE <br /> <br />The ~AW 't/l.bl;~: I ~~C::::("Banl<.) has received a copy of the foregoing Assignment <br />and agrees that neither the Debtor nor anyone elsE:! (except Secured Party) has any right to withdraw any <br />funds from the above-described Account listed above until the Secured Party releases this agreement in <br />writing, except that, at the Debtor's request, the Bank shall all the transfer of the annual Loan payment in <br />the amount of $11,554.05 to Secured Party. The Bank acknowledges that the Account is a special <br />deposit and that the funds deposited therein are to be used solely for Debtor's repayment to the Secured <br />Party of the Loan, and waives any right of setoff it may have i~nd to the Account.. , ./ / <br /> <br />Bank V~ ~J ~ <br /> <br />By ~ '111. ~ ~esident <br /> <br />Date 9'- r- ~ 7 <br /> <br />ATTEST: <br /> <br />By <br /> <br />I . . -:> <br />; ..J Q",udA... ..D.A f) "..<4L_ <br />