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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. <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 <br /> assigns; and all promises and duties of DEBTOR shall bind its successors or assigns. <br /> DEBTOR: Castle Pines North Metropolitan <br /> District, acting by and through its Water Activity <br /> Enterprise <br /> (S E A L) <br /> By <br /> Attest: Signature <br /> By <br /> a tAANAketfr' <br /> Signature <br /> NAME: Keith Dodd <br /> NAME: Janet Burnham <br /> TITLE: President <br /> TITLE: Secretary DATE: October 15, 2015 <br /> DATE: October 15, 2015 <br /> {00466563.DOCX I} <br /> Appendix 4 to Loan Contract <br /> Page 2 of 2 <br />