C153746 PIF Contract - Laserfiche WebLink

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by the CONT*CT. Upon default, SECURED PARTY shall have the immediate right to the possession of the COLLATERAL. SHALL BE IN DEFAULT under this agreement upon the happening of any of the following events or conditions: (a) clef�ult in the payment or performance of any obligation, covenant or liability contained or referred to herein or i any note evidencing the same; (b) the lmaking 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; (c) los, theft, damage, destruction, sale or encumbrance to or of any of the COLLATERAL, or the making of any lev seizure or attachment thereof or thereon; (d) dee th, dissolution, termination or 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 any guarantor or surety for DEBTOR. UPON UCH DEFAULT and at any time thereafter, or if s itself insecure, SECURED PARTY may declare all C bligations secured hereby immediately due and paebl d sh:al have the remedies of a secured party under krticle 9 of the Colorado Uniform Commercial C URED, PARTY, may require DEBTOR to deliver or make the COLLATERAL available to SECURED PARTY at be,d'es_ignatecl by SECURED PARTY which is reasonably onvenient to both parties. Expenses of r n hold fig, prOaring for sale, selling or the like shall includ SECURED PARTY's reasonable attorney's fees d l4'_'_4eih1'said 6kpenses. In the event court action is deemed necessary to enforce the terms and conditions s fo action shall only be brought in the District ourt for the City and County of Denver,. State ol*- do, and DEBTOR consents to venue and personal juri diction in said Court. No clef ult shall be waived by SECURED PARTY except i riting, and no waiver by SECURED PARTY 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 seCL rity agreement shall not waive or impair any other security said SECURED PARTY may have or hereafter ac quire for the payment of the above indebtedness, nor shall the taking of any such additional security wa ve or impair this security agreement; but said SECURED PARTY shall retain its rights of set -off against DEB OR. All rig s of SECURED PARTY hereunder shall inure to the benefit of its successors and assigns; and all promises an J duties of DEBTOR shall bind its heirs, executors or administrators or its successors or assigns. If there be mo a than one DEBTOR, their liabilities hereunder shall be joint and several. Dated his M, day of December 1996. DEBTOR: Mz ncos Water Conservancy District DEBTOR: Mancos Water Conservancy District Water Activity Enterprise By: By:� T iomas K. Colbert, President Thomas K. Colbert, President— (SEAL) (SEAL) ATTEST ATTEST By By Oland Alexander, Secretary Noland Alexander, Secretary