C150241 contract docs

• Contract/PO #: C150241
• Contractor Name: DeBeque, Town of ‎(Acting by and through its Irrigation System Enterprise)‎
• Contract Type: Loan
• Water District: 0
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

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DEBTOR SHALL BE IN DEFAULT under this agreement upon any of the
following events or conditions:
a. defauit in the payment or performance of any obligation contained herein or in the
Promissory Note or Loan Contract;
b. 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 DEBTOR; or
c. the making or furnishing of any warranty, representation or statement to SECUREo
PaRnr by or on behalf of DEBTOR which proves to have been false in any material
respect when made or furnished.
UPON SUCH DEFAULT and at any time thereafter, SECURE� PaRnr shall have the
remedies of a secured party under Article 9 of the Colorado Uniform Commercial Code.
SECURE� PARnr may require DEBTOR to deliver or make the Co��,aTERa� available to
SECURED PARTY at 3 p11C2 t0 b@ d2Slgllat@d by SECURED PARTY whic " sonably
convenient to both parties. Expenses of retaking, holding, pr ring for le, Iling or
the like shall include SECURE� PaRrY's reasonab ey's fee nd legal pe es.
Th2 SECURED PARTY Sh giv� the DE oR wr en notic f any a eged default
and an opportunity to cure withi h (30) d ecerpt'o such notice before the
DEBTOa shall be considered in d It.fa--purposes of this Security Agreement. No
default shall be waived by SECURE� ARrir except in writing, and no waiver by SECURE�
PaR�r�r 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 SECURE� PaRrY 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 SECURE� PaRnr 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� PARnr hereunder shall inure to the benefit of its successors
and assigns; and all promises and duties of DEBTOR shall bind its successors or assigns.
DEBTOR: Town of DeBeque, acting by and
through its Irr' ion S st m Enterprise
SEAL
By
Donald ramer, Mayor
ATT S '
B
aren Eisenach, Town Clerk
Appendix 4 to Loan Contract C150241
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