C150090 PIF Contract - Laserfiche WebLink

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does not use the COLLATERAL for any purpose not permitted by the CONTRACT. Upon default, SECURED PARTY shall have the immediate right to the possession of the COLLATERAL. DEBTOR SHALL BE IN DEFAULT under this agreement upon any of the following events or conditions: a. default in the payment or performance of any obligation contained herein or in the Promissory Note or Contract evidencing the same; 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 SECURED PARTY 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, SECURED PARTY shall have the remedies of a secured party under Article 9 of the Colorado Uniform Commercial Code. SECURED PARTY may require DEBTOR to deliver or make the COLLATERAL available to SECURED PARTY at a place to be designated by SECURED PARTY which is reasonably convenient to both parties. , The SECURED PARTY shall give TOR tt n notice of any alleged default and an opportunity to cure within thirty (3 yhf r ipt`such notice before the DEBTOR shall be considered in default for purpihi,,, ` Agreement. No default shall be waived by SECURED PARTY except in writi an . _ . a er by SECURED PARTY of any default shall operate as a waiver of any other default o`� " same default on a future occasion. The taking of this security agreement shall not ,or impair any other security SECURED PARTY may have or hereafter acquire for the pay the above indebtedness, nor shall the taking of any such additional security waive or imaair this security agreement; but SECURED PARTY 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 SECURED PARTY hereunder shall inure to the benefit of its successors and assigns; and all promises and duties of DEBTOR shall bind its successors or assigns. Ia M Dated November 14, 2002. SEAL DEBTOR: Parker Water and Sanitation District, acting by and through its Water Activity Enterprise and its nitary Sewer Activity Enterarise /I