C150058A PIF Contract - Laserfiche WebLink

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c. loss, theft, damage, destruction, sale or encumbrance to or of any of the Co~~TEwa~, or the making of any levy seizure or attachment thereof or thereon; d. dissolution, termination of existence, insolvency, business failure, appointment of a receiver of any part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding under any bankruptcy or insolvency law of, by or against DEeTOR or any guarantor or surety for DEBTOR. UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure, after written notice as described in the paragraph below, SECURE~ PARnr may declare all Obligations secured hereby immediately due and payable and shall have the remedies of a secured party under Article 9 of the Colorado Uniform Commercial Code. SECUREO PARN may require DEBTOR to deliver or make the Co~~aTEw~,~ available to SECURE~ PARN at a place to be designated by SECURE~ PaRrY which is reasonably convenient to both parties. Expenses of retaking, holding, preparing for sale, selling or the like shall include SECURE~ PaRrY's reasonable attorney's fees and legal expenses. In the event court action is deemed necessary to enforce the terms and conditions set forth herein, said action shall only be brought in the District Court for the City and County of Denver, State of Colorado, and DEBTOR consents to venue and personal jurisdiction in said Court. The SECUREO PARN ' DEaTOR written notice of any alleged default and an opportunity to cure within t 30) da f eipt of such notice before the DESTOR shall be considered in default for pur f ity Agreement. No default shall be waiVed by SECURED PARTY exce ~ tin n aiver by SECURE~ PaRrr of any default shall operate as a waiver of any other o of the same default on a future occasion. The taking of this security agreement shall no waive or impair any other security said SECURED PARTY may have or hereafter acquire for the payment of the above indebtedness, nor shall the taking of any such additional security waive or impair this security agreement; but said SECURED PARTY shall retain its rights of set-off against DEBroR. All rights of SECURE~ PaRN hereunder shall inure to the benefit of its successors and assigns; and all promises and duties of DEBTOR shall bind its heirs, executors or administrators or its successors or assigns. If there be more than one DEaTOR, their liabilities hereunder shall be joint and several. Dated this December 10, 2002. DEa7oR: The Dolores Water Conservancy District, acting by and through the Dolores Water Conservancy District Water Activity Enterprise SEAL ~ l sy ~- ~-- ~ Donald W. Schwindt, President ATTEST~ gy . Bill F. Smart, Secretary