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• S <br /> b. dissolution, termination of existence, insolvency, business failure, appointment of a receiver of any <br /> part of the property of, assignment for the benefit of creditors by, or the commencement of any <br /> proceeding under any bankruptcy or insolvency law of, by or against DEBTOR; or <br /> c. the making or furnishing of any warranty, representation or statement to SECURED PARTY by or on <br /> behalf of DEBTOR which proves to have been false in any material respect when made or furnished. <br /> UPON SUCH DEFAULT and at any time thereafter, SECURED PARTY shall have the remedies of <br /> a secured party under Section 11-57-208, Colorado Revised Statutes, as amended. SECURED PARTY <br /> may require DEBTOR to deliver or make the COLLATERAL available to SECURED PARTY at a place to be <br /> designated by SECURED PARTY, which is reasonably c• _1`-_ nt to both parties. Expenses of retaking, <br /> holding, preparing for sale, selling or the like shall inclu '- 'ED PARTY'S reasonable attorney's fees and <br /> legal expenses. <br /> The SECURED PARTY shall give the DEBTOR written no ice of any lleged def• • ..--nd an opportunity <br /> to cure within thirty (30) days of receipt of such notice before the DEBT shall be •' red in default for <br /> purposes of this Security Agreement. No default shall be waived by SECURED P�. - f -pt in writing, and <br /> no waiver by SECURED PARTY of any default shall operate as a waiver of any other • ault or of the same <br /> default on a future occasion. The taking of this security agreement shall not waive or impair any other <br /> security SECURED PARTY may have or hereafter acquire for the payment of the above indebtedness, nor shall <br /> the taking of any such additional security waive or impair 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 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: Haldi Ditch Company, a Colorado nonprofit <br /> corporation <br /> (S E A L) <br /> By 1A-(4/ ( <br /> Signature <br /> Attest: /q c <br /> NAME: 'r'A A-, .S1--12ttcta-t <br /> TITLE: 12re 5 i r stf' <br /> DATE: Of -o i - Z-'"L( <br /> By ,� /.,. ,t,i.1 Lam, <br /> Signature <br /> NAME: )"---1( tt. t{_ <br /> TITLE: ce c v -4- y <br /> DATE: J-'t/ o/ Z-ol/ <br /> Appendix 4 to Loan Contract C150389 <br /> Page 2 of 2 <br />