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UPON SUCH DEFAULT and at any time thereafter,SECURED PARTY shall have the remedies of a <br /> secured party under Artide 9 of the Colorado Uniform Commercial Code. SEC UR o PARTY may require <br /> DEBTOR to deliver or make the PLEDGED PROPERTY amiable to SECURED PARTY at a place to be desimated <br /> by SECURED PARTY,which is reasonably convenient to both parties_. Expenses of ret dcing,holdng,pm:raft <br /> for sale,selling or the like shall include SECURED PARTYS reasonable attorrys 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 SEONIED PARTY except in fig,and <br /> no waiver by SEC ED 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 a Bement shall not waive or unpalt any other <br /> security SECURED PARTY may have or hereafter acquire for the payment of the above thdebtedness,nor shall <br /> the taking of any such additional security waive or kopek 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 corms to venue and personal jurisdiction in said Count <br /> All rights of SECURED PARTY hereunder shall int a to the benefit of its successors and assigns;and <br /> all promises and duties of DEBTOR shall bind its successors or assigns. <br /> DEBTOR:Prase Ditch Company,a Colorado <br /> nonprofit corporation <br /> (SEAL) 141/4." <br /> By <br /> Attest <br /> Nam: A . ff t v.4 <br /> . DATE: �a- 'L�'���By <br /> Signature <br /> NAME: '�� ,►T��'' s -�•: 3k Cu:T\I <br /> TrriE: c.S L7 (I24 <br /> DATE: /021241 0C�-LI''‘,0t4 <br /> Appendix 4 <br /> Page 2 of 2 <br />