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against DEBTOR; or <br /> c. the making or furnishing of any warranty, representation or statement to SECURED PARTY <br /> by or on behalf of DEBTOR which proves to have been false in any material respect when <br /> made or furnished. <br /> UPON SUCH DEFAULT and at any time thereafter, SECURED PARTY shall have the <br /> remedies of a secured party under Section 11-57-208, Colorado Revised Statutes, as amended. <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. In the event of a conflict <br /> between the provisions of Section 11-57-208, Colorado Revised Statutes, as amended, and this <br /> 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 <br /> considered in default for purposes of this SECURITY AGREEMENT. No default shall be waived by <br /> SECURED PARTY except in writing, and no waiver by SECURED PARTY of any default shall operate <br /> as a waiver of any other default or of the same default on a future occasion. The taking of this <br /> SECURITY AGREEMENT shall not waive or impair any other security SECURED PARTY may have or <br /> hereafter acquire for the payment of the above indebtedness, nor shall the taking of any such <br /> 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 <br /> terms and conditions set forth herein, said action shall only be brought in the District Court for the <br /> City and County of Denver, State of Colorado, and DEBTOR consents to venue and personal <br /> 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 /> City of Cortez, Home Rule Municipality acting by <br /> and through its City of Cortez Water Enterprise <br /> (S E A L) <br /> By n//✓`/ :Gtl�v <br /> Attest: Signature <br /> NAME: Karen IN Sheek <br /> TITLE: Mayor <br /> DATE: 4/14/15 <br /> By - f`' 1 '1'4= <br /> ignature <br /> NAME: Linda L Smith <br /> TITLE: City Clerk <br /> DATE: 4/14/15 <br /> Appendix 4 <br /> Page 2 of 2 <br />