C153837 contract docs

• Contract/PO #: C153837
• Contractor Name: Chatfield South Water District
• Contract Type: Loan
• Water District: 8
• County: Douglas
• Bill Number: HB 98-1189
• Loan Projects - Doc Type: Contract Documents

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5. To pay all taxes and assessments of every nature which may be levied or assessed
against the Co��aTERa�.
6. To not permit or allow any adverse lien, security interest or encumbrance whatsoever
upon the Co��arE�� and not to permit the same to be attached or replevined.
7. That the DESTOR will not use the Co��arERa� in violation of any applicable statutes,
regulations, ordinances, articles of incorporation or by-laws.
DEBTOR SHALL BE IN DEFAULT under this agreement upon the happening of any of
the following events or conditions:
a. default in the payment or performance of any obligation, covenant or liability
contained or referred to herein or in any note evidencing the same;
b. the making or furnishing of any warranty, representation or statement to SECURE�
PaRN by or on behalf of DEaTOR which proves to have been false in any material
respect when made or furnished;
c. loss, theft, damage,
COLLATERAL, or the ma
e or encumbrance to or of any of the
se�re or attachment thereof or thereon;
d. dissolution, termination o�xiste ,��y� business failure, appointment of a
receiver of any part of the o signment for the benefit of creditors by, or
the commencement of� ro ding under any bankruptcy or insolvency law of,
by or against DEBroR o y guarantor`or surety for DEBTOR.
UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure,
SECUREO PaRN 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. In addition, upon default SECURED PARTY Shall haVe the right to
transfer the COLLATERAL to and register the COLLATERAL in the name of the SECURED
PARTY and, whether or not so transferred and registered, to receive the income, dividends
and other distributions thereon and apply them to repayment of the loan. Expenses of
retaking, holding, preparing for sale, selling or the like shall include SECURED PARTY
reasonable attorney's fees and legal expenses.
No default shall be waived by SECURE� PARnr except in writing, and no waiver by
SECURE� PaRN of any default shall operate as a waiver of any other default or of the
same default on a future occasion. The taking of this security agreement shall not waive
or impair any other security said SECURE� PaRn 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 SECURE� PaRn shall retain its rights of
set-off against DEBTOR. 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.
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