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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 by <br /> SECURED PARTY, which is reasonably convenient to both parties. Expenses of retaking, holding, preparing for <br /> 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 no <br /> waiver by SECURED PARTY of any default shall operate as a waiver of any other default or of the same default <br /> on a future occasion. The taking of this security agreement shall not waive or impair any other security <br /> SECURED PARTY may have or hereafter acquire for the payment of the above indebtedness, nor shall the taking <br /> of any such additional security waive or impair this security agreement; but SECURED PARTY shall retain its <br /> rights of set-off against DEBTOR. In the event court action is deemed necessary to enforce the terms and <br /> conditions set forth herein, said action shall only be brought in the District Court for the City and County of <br /> 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 all <br /> promises and duties of DEBTOR shall bind its successors or assigns. <br /> DEBTOR: Louden Irrigating Canal&Reservoir <br /> Company <br /> (S E A L) <br /> By 62C <br /> Signature <br /> Attest: <br /> NAME: DA-La 4 hFr4G <br /> r TITLE: PR Es <br /> / DATE: p L/S1 <br /> By c ,Y-(' <br /> (( Signature <br /> NAME: �' l/'2 //-t A, tJ id-c. SD z'! <br /> TITLE: caQ/_-E 7:14. Gf <br /> DATE: /�/� 7 <br /> Appendix 4 to Loan Contract C150398 <br /> Page 2 of 2 <br />