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HomeMy WebLinkAboutC88-093 amendment to Prime Money Fund Accounta � f AMENDMENT TO ASSIGNMENT OF PRIME MONEY FUND ACCOUNT TO: Silverado Banking C88 -93 -28 THIS AMENDMENT is made and entered into as of the 22nd day of August, 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 27, 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. NOW, THEREFORE, WSL and the County hereby agree as follows: 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 $49.500.00 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. �p rk to the $trard of ounty Commissioners ATTEST: STATE OF ARIZONA ) ) ss. COUNTY OF MARICOPA ) COUNTY OF EAGLE, STATE OF COLORADO, By and through its BOARD OF COUNTY COMMISSIONERS By: %•rz zi. George X. Gates, Chairman WESTERN SAVINGS AND LOAN ASSOCIATION B Y avid M. Kotin Assistant Vice President The foregoing inst ument was acknowledged before me this day of , 1988 by David M. Kotin, as Assistant Vice Presiders of Western Savings and Loan Association. Witness my hand and official seal. -2- d AUTHORIZATION FOR PARTIAL RELEASE OF FUNDS TO: SILVERADO BANKING The undersigned hereby authorizes and directs Silverado Banking to release to Western Savings and Loan Association the sum of Sixty Thousand and No /100 Dollars ($ 60,000.00 presently on deposit in Prime Money Fund Account No. 007 - 8604891 in accordance with the Amendment to Assignment of Prime Money Fund Account attached hereto as Exhibit A. Dated this 22nd day of August, 1988. A-4 �r Clerk to the -5oard o County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and through its BOARD OF COUNTY COMMISSIONERS By: _o/q, , Georger A. Gates, Chairman