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• • <br /> b. dissolution, termination of existence, insolvency, business failure, appointment of a <br /> receiver of any part of the property of, assignment for the benefit of creditors by, or the <br /> commencement of any proceeding under any bankruptcy or insolvency law of, by or <br /> against DEBTOR; or <br /> c. the making or furnishing of any warranty, representation or statement to SECURED <br /> PARTY by or on behalf of DEBTOR which proves to have been false in any material <br /> respect when made or furnished. <br /> UPON SUCH DEFAULT and at any time thereafter, SECURED PARTY shall have the <br /> remedies of a secured party under Article 9 of the Colorado Uniform Commercial Code. <br /> SECURED PARTY may require DEBTOR to deliver or make the COLLATERAL available to SECURED <br /> PARTY at a place to be designated by SECURED PARTY, which is reasonably convenient to both <br /> parties. Expenses of retaking, holding, preparing for sale, selling or the like shall include <br /> SECURED PARTY'S reasonable attorney's fees and legal expenses. <br /> The SECURED PARTY shall give the DEBTOR written notice of any alleged default <br /> and an opportunity to cure within thirty (30) days of receipt of such notice before the DEBTOR <br /> shall be considered in default for purposes of this Security Agreement. No default shall be <br /> waived by SECURED PARTY except in writing, and no waiver by SECURED PARTY of any default <br /> shall operate as a waiver of any other default or of the same default on a future occasion. The <br /> taking of this security agreement shall not waive or impair any other security SECURED PARTY <br /> 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 <br /> shall retain its rights of set-off against DEBTOR. In the event court action is deemed necessary to <br /> enforce the terms and conditions set forth herein, said action shall only be brought in the District <br /> 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 <br /> assigns; and all promises and duties of DEBTOR shall bind its successors or assigns. <br /> DEBTOR: Jane Abbott, a Colorado <br /> individual <br /> By `c.. <br /> Jane Abbott <br /> County of (t ) <br /> ss <br /> State of Colorado ) d <br /> Jane Abbott acknowledged the foregoing instrument before me this date of • D • c '• , <br /> 2006. Witness my hand and official seal. <br /> / i i Notary Public <br /> 4vly commission.expire / tier d a <br /> 3 • <br /> .....,,555.... <br /> Appendix 3 to Loan Contract C150220 <br /> Page 2 of 2 <br />