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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, and <br /> 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 shall <br /> retain its rights of set-off against DEBTOR. In the event court action is deemed necessary to enforce the terms <br /> and conditions set forth herein, said action shall only be brought in the District Court for the City and County <br /> 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: Ephraim Ditch Company,a Colorado <br /> nonprofit corporation <br /> (SEA ) AUNT K 'r <br /> NOTARY PIM* <br /> SYNE QFca.OMOO By / 22VY —_ <br /> Attest: MY NOTARY ID 19 32ST -y� <br /> COMMISSION EXPIRES CH 10,2017 �s,a�,/ .1ct/I i 6fr- <br /> TITLE: gPros O <br /> DATE: - /y <br /> Si atur; <br /> NAME: t� <br /> TITLE: 1 Atli-94 eAJ <br /> DATE: • 1 <br /> Appendix 4 <br /> Page 2 of 2 <br />