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<br />. <br /> <br />. <br /> <br />" <br /> <br />under this Assignment must be contained in a writing signed by Secured Party. A <br />waiver on one occasion shall not constitute a waiver on any other occasion. <br />7, The rights and remedies of the Secured Party stated in this Assignment are in addition <br />to any other rights the Secured Party may have under the Loan Contract or any law. <br />8. This Assignment shall be binding upon Debtor and its successors, assigns, trustees, <br />and receivers. <br />9. This Assignment shall be construed in accordance with the laws of the State of <br />Colorado. <br />10. The Debtor and Secured Party specifically request the Bank to honor and accept this <br />Assignment and its terms. <br />Executed this ~ day of August 2001. <br />Jackson Lake Reservoir and Irrigation <br />Company, a Colorado nonprofit corporation <br /> <br />(SEAL) <br /> <br />ayf~/~ <br /> <br />Edward E. Fritzler, esident <br /> <br />Attest: JL <br /> <br /> <br />By Steve BOlinger,~~~cretary <br /> <br />ACKNOWLEDGMENT BY BANK <br /> <br />By Its officer's signature below, the Community First National Bank ("Bank") acknowledges that it has <br />received a copy of the foregoing Assignment and agrees that neither the Debtor nor anyone else (except <br />Secured Party) has any right to withdraw any funds from the above-described Account listed above until the <br />Secured Party releases this agreement in writing, except that, at the Debtor's request, the Bank shall allow <br />transfers of funds from the Account to Secured Party, The Bank further agrees that, upon notice from <br />Secured Party that the Debtor Is in default under its Loan Contract with Secured Party and that Secured Party <br />is exercising its right under the Assignment to withdraw funds contained in the Account, the Bank shall pay <br />such funds directly to Secured Party until advised otherwise by both Secured Party and the Debtor. The <br />Bank acknowiedges that the Account is a special deposit and that the funds deposited therein are to be used <br />solely for Debtor's repayment to the Secured Party of the Loan, and waives any right of setoff it may have in <br />and to the Account. ' <br />Community First National Bank <br />POBox 550 <br />Fort Morgan CO 8070 <br />970/867-8281 <br /> <br />By <br />Pr" <br />Date <br /> <br /> <br />Attest: <br /> <br />By J~ ~,Offl;/~ <br />Co orat Secret ry <br />