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UPON SUCH DEFAULT and at any time thereafter, SECURED PARTY shall have the remedies of a <br /> secured party under Section 11-57-208, Colorado Revised Statutes, as amended. SECURED PARTY may <br /> require DEBTOR to deliver or make the COLLATERAL 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, <br /> preparing for sale, selling or the like shall include SECURED PARTY'S reasonable attorney's fees and legal <br /> expenses. In the event of a conflict between the provisions of Section 11-57-208, Colorado Revised <br /> Statutes, as amended, and this Security Agreement, the provisions of such statute shall control. <br /> The SECURED PARTY shall give the DEBTOR written notice of any alleged default and an <br /> opportunity to cure within thirty (30) days of receipt of such notice before the DEBTOR shall be considered <br /> in default for purposes of this SECURITY AGREEMENT. No default shall be waived by SECURED PARTY except <br /> in writing, and no waiver by SECURED PARTY of any default shall operate as a waiver of any other default or <br /> of the same default on a future occasion. The taking of this SECURITY AGREEMENT shall not waive or impair <br /> any other security SECURED PARTY may have or hereafter acquire for the payment of the above <br /> indebtedness, nor shall the taking of any such additional security waive or impair this SECURITY AGREEMENT; <br /> but SECURED PARTY shall retain its rights of set-off against DEBTOR. In the event court action is deemed <br /> necessary to enforce the terms and conditions set forth herein, said action shall only be brought in the <br /> District Court for the City and County of Denver, State of Colorado, and DEBTOR consents to venue and <br /> 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: Town of Bennett, acting by and through <br /> its Water Activity Enterprise <br /> (SEAL) <br /> /1_��1J1/X�^--- <br /> f <br /> Attest: SJtL Signature <br /> , NAME: /04)5/-7 f e <br /> TITLE: rho() Attdo I t6/7L Z" <br /> DATE: (9-—f41-- D-015— <br /> Signature <br /> ,', I, <br /> NAME JC T 1 at W/- <br /> TITLE: M IN <br /> DATE: c:2-0- <br /> Appendix 4 <br /> Page 2 of 2 <br />