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C153629 PIF Contract
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C153629 PIF Contract
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Last modified
12/6/2012 8:00:33 AM
Creation date
12/6/2012 7:55:50 AM
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Loan Projects
Contract/PO #
C153629
Contractor Name
Colorado River Water Conservation District, The
Contract Type
Loan
Water District
50
County
Grand
Bill Number
SB 87-15
Loan Projects - Doc Type
Contract Documents
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7. Th t the DEBTOR will not use the COLLATERAL in violation of any applicable statutes, regulations, <br />orc inances, articles of incorporation or by -laws. <br />UNTIL DEFAULT DEBTOR may have possession of the COLLATERAL, provided that DEBTOR keeps the <br />COLLA ERAL in an account separate from other revenues of DEBTOR and does not use the <br />COLLA ERAL for any purpose not permitted by the CONTRACT. Upon default, SECURED PARTY shall <br />have t1 e immediate right to the possession of the COLLATERAL. <br />D BTOR SHALL BE IN DEFAULT under this agreement upon the happening of any of the <br />followii ig events or conditions: <br />a failure or omission to make any payment under the CONTRACT when due; <br />b default in the payment or performance of any obligation, covenant, or agreement contained <br />in the CONTRACT or herein; <br />c. the making of any levy, seizure, or attachment on the COLLATERAL by any third party; <br />d the DEBTOR becoming insolvent or unable to pay debts. as they mature. <br />S HCURED PARTY shall give DEBTOR written notice of any alleged default and an opportunity to <br />cure m ithin thirty (30) days of receipt of such notice before DEBTOR shall be considered in default <br />under his agreement. <br />U DON SUCH DEFAULT and at any time thereaft r, SEC PARTY may declare all Obligations <br />secured hereby immediately due and payable and fth emedies of a secured party under <br />Article 9 of the Colorado Uniform Commercial Cod e urt action is deemed necessary to <br />enforc the terms and conditions set forth herein, s do nly be brought in the District Court <br />for th City and County of Denver, State of Colo nd consents to venue and personal <br />jurisdi tion in said Court. <br />N default shall be waived by SECURED PARTY et.aive writing, and no waiver by SECURED <br />PAR of any default shall operate as a waiver of any of ault or of the same default on a future <br />occasi n. The taking of this security agreement shall or impair any other security said <br />SECUr ED PARTY may have or hereafter acquire for the payment of the above indebtedness, nor shall <br />the tal ing of any such additional security waive or impair this security agreement; but said SECURED <br />PARTY shall retain its rights of set -off against DEBTOR. <br />Dated this � day of December 1997. <br />DEBTOR Corr, do River Watir Conservation District <br />QI <br />EAL <br />ATTE T Q r <br />By 0"- ' LLB --� <br />Richard Eric Kuhn, Secretary <br />
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