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<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 />g. The Owner and Lender specifically request the Bank to honor and accept this <br />Assignment and its terms. <br /> <br />Executed this ---1U;h... day of <br /> <br />Mav <br /> <br />1999. <br /> <br />(S E A L) <br /> <br />The Buffalo Mutual Irrigation Company, <br />a Colorado nonprofit corporation <br /> <br />ByJio-r~,D, <1~~ <br />Rodney D. Thompson, P esident <br /> <br />ATTEST: <br /> <br />By {~~.t::~/ <br /> <br />William Leiker, Sec':,etary <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />By its officer's signature below, the Colorado East Bank and Trust ("Bank") acknowledges <br />that it has received a copy of the foregoing Assignment, and agrees that, upon notice <br />from the Colorado Water Conservation Board ("Secured Party") that the Buffalo Mutual <br />Irrigation Company ("Debtor") is in default under its Loan Contract with the CWCB and <br />that the CWCB is exercising its right under the Assignment to withdraw funds contained <br />in the Certificate of Deposit, the Bank shall pay such funds directly to the CWCB until <br />advised otherwise. The Bank acknowledge$ that the Certificate of Deposit account is a <br />special deposit and that the funds deposited therein are to be used solely to secure <br />Debtor's loan from Secured Party, and waives any right of setoff it may have in and to the <br />Certificate of Deposit Account. <br /> <br />ATTEST: <br />By ()o /1 j L{'(, c/-LliVi'/r AJ <br /> <br />Colorado East Bank and Trust <br /> <br />By ~ \\\\l~ \:~\~ ~ <br /> <br />Printed Nam~/Title r."ry r. Hpl <pl CRshier <br />Date Mav 04. 1999 <br /> <br />'. <br />