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UPON SUCH DEFAULT and at any time thereafter, SECURED PARTY shall have the remedies of a <br /> secured party under Article 9 of the Colorado Uniform Commercial Code. SECURED PARTY may require <br /> DEBTOR to deliver or make the PLEDGED PROPERTY available to SECURED PARTY at a place to be designated <br /> by SECURED PARTY, which is reasonably convenient to both parties. Expenses of retaking, holding, preparing <br /> for sale,selling or the like shall include SECURED PARTY'S reasonable attorney's fees and legal expenses. <br /> The SECURED PARTY shall give the DEBTOR written notice of any alleged default and an opportunity <br /> to cure within thirty(30)days of receipt of such notice before the DEBTOR shall be considered in default for <br /> purposes of this SECURITY AGREEMENT. No default shall be waived by SECURED PARTY except in writing, <br /> and no waiver by SECURED PARTY of any default shall operate as a waiver of any other default or of the same <br /> default on a future occasion. The taking of this SECURITY AGREEMENT shall not waive or impair any other <br /> security SECURED PARTY may have or hereafter acquire for the payment of the above indebtedness, nor shall <br /> the taking of any such additional security waive or impair this SECURITY AGREEMENT; but SECURED PARTY <br /> shall retain its rights of set-off against DEBTOR. In the event court action is deemed necessary to enforce the <br /> terms and conditions set forth herein, said action shall only be brought in the District Court for the City and <br /> County of Denver,State of Colorado,and DEBTOR consents to venue and personal jurisdiction in said Court. <br /> All rights of SECURED PARTY hereunder shall inure to the benefit of its successors and assigns; and <br /> all promises and duties of DEBTOR shall bind its successors or assigns. <br /> DEBTOR: Sterling Irrigation Company, a Colorado <br /> nonprofit corporation <br /> (SEAL) B _ �� <br /> Y , <br /> Attest: <br /> NAME: Gene Manuello <br /> TITLE: Presid-nt <br /> DATE: <br /> By ! �/✓?�.t/�e-,�r� � �P Y�G(-i <br /> Signature <br /> NAME: Katherine Seetch <br /> TITLE: Secretary-Treasurer <br /> DATE: `1/ / cx-c, <br /> Appendix 4 <br /> Page 2 of 2 <br />