HomeMy WebLinkAboutC88-051 assignment of prime money fund accountASSIGNMENT OF PRIME MONEY FUND ACCOUNT
TO: Silverado Banking
C88 -51 -28
For valuable consideration, the receipt of which is
hereby acknowledged, Western Savings and Loan Association
( "Western ") hereby assigns to the County of Eagle, State of
Colorado, by and through its Board of County Commissioners (the
"County "), an interest in its Prime Money Fund Account
No. 007 - 8604891 with or issued by Silverado Banking to the extent
of $120,000.00 (hereinafter referred to as the "assigned
amount "), excluding all interest now due or to become due on the
assigned amount. This Assignment is given as security for
Western's faithful performance of its obligations under an
Improvements Agreement dated July 20, 1987, entered into by and
between Western and the County, a copy of which is attached
hereto. This Assignment shall be a continuing assignment, and
will be effective for the original contract term, and any
extensions thereof, until Western fully performs its obligations
under the terms of the Improvements Agreement to the satisfaction
of the County, or is otherwise released therefrom by the County.
In accordance with the Improvements Agreement, Western
may apply to the County for a reduction in the assigned amount
and, upon written approval by the County, such assigned amount
shall be so reduced.
Western hereby authorizes the County to demand and
collect all or any portion of the deposit to the extent of the
assigned amount in accordance with this Assignment and the
provisions of the Improvements Agreement, and to issue a receipt
for any sums received therefrom. Western hereby directs
Silverado Banking to pay to the County, its legal representative,
successors, or assigns, upon written demand, the amount so
demanded, to the extent of the assigned amount.
This Assignment shall neither be amended nor terminated
without the written consent of all signatories hereto.
DATED this ),Lf_4,- day of August, 1987.
WESTERN SAVINGS AND LOAN ASSOCIATION
By
Its: s(?
6A ASSIS `n gj
O L -.i .
STATE OF ARIZONA )
) ss.
COUNTY OF MARICOPA )
On this Z- N-Lday of u , 1987, before .me, a
notary public, personally appear 6d ,
known to me to be the of Western
Savings and Loan Association.
Witness my hand and official seal.
P-T G missic t ,
My commission expires:
VVLA 11 t,� VVltLL LLIULJ1V11 lil Lam.
Gar-- -
`�— Notary Public
COUNTY OF EAGLE, STATE OF COLORADO
By and through its Board of
COUNTY 9O 4,ISSIONERS
C airmanr
Richard L . Gt�`taf � ;"
-2-
C88 -51 -28
AMENDMENT TO
ASSIGNMENT OF PRIME MONEY FUND ACCOUNT
TO: Silverado Banking
THIS AMENDMENT is made and entered into as of the -E1
day of :: , 1988, by and between Western Savings and
Loan Association "WSL ") and the County of Eagle, State of
Colorado, by and through its Board of County Commissioners (the
"County ").
RECITALS
A. WSL, as Assignor, and the County, as Assignee, are
parties to a certain Assignment of Prime Money Fund Account dated
August 24, 1987, whereby WSL assigned to the County an interest
in WSL's Prime Money Fund Account No. 007 - 8604891 with or issued
by Silverado Banking to the extent of the principal amount of
$120,000.00, excluding all interest due or to become due in the
future on the principal amount, which Assignment was given to
secure to the County WSL's faithful performance of its
obligations under an Improvements Agreement between the parties
dated July 20, 1987; and
B. WSL has completed certain of the improvements, and
thereby partially performed its obligations to the County under
the Improvements Agreement; and
C. WSL and the County wish to amend the terms of the
Assignment of Prime Money Fund Account.
follows: NOW, THEREFORE, WSL and the County hereby agree as
1. The principal amount of the funds on deposit at or
with Silverado Banking in Prime Money Fund Account
No. 007 - 8604891 shall be reduced to $ 109,500.00.
2. The conditions, terms and provisions of the
Assignment of Prime Money Fund Account shall remain in full force
and effect except as amended hereby.
3. This Amendment shall be binding upon and shall
inure to the benefit of the parties hereto and their respective
successors and assigns.
¢e.. �. 2
i ""•4+► COUNTY OF EAGLE, STATE OF COLORADO,
By and Through Its Board of County
TTEST: Commissioners
IV
By: 2 _ I By:
/ Clerk to the Board Georg A. Gates, Chairman
of County Commissioners
ATTEST: WESTERN SAVINGS'AND LOAN ASSOCIATION
By: t By •
avid M. Kotin
Assistant Vice President
STATE OF ARIZONA )
ss
County of Maricopa )
The foregoing instrument was acknowledged before
me this _ day of _, 1988, by David M. Kotin
as Assistant Vice President and as
Secretary of Western Savings & Loan Association.
Witness my hand and official seal.
My commission expires 1P_C. It-, ta$q
-2-
