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Upon such default and at any time thereafter, SECURED PARTY shall have the remedies of a <br /> secured party under Article 9 of the Colorado Uniform Commercial Code. SECURED PARTY may require <br /> DEBTOR to deliver or make the PLEDGED REVENUES 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, preparing <br /> for sale, selling or the like shall include SECURED PARTY'S reasonable attorney's fees and legal expenses. <br /> The SECURED PARTY shall give the DEBTOR written notice of any alleged default and an opportunity <br /> to cure within thirty (30) days of receipt of such notice before the DEBTOR shall be considered in default for <br /> purposes of this SECURITY AGREEMENT. No default shall be waived by SECURED PARTY except in writing, and <br /> no waiver by SECURED PARTY of any default shall operate as a waiver of any other default 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 of <br /> 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: Lower Poudre Augmentation Company, <br /> a Colorado nonprofit corporation <br /> (S E A L) <br /> By01P-7 /.----A <br /> Signature <br /> Attest: <br /> NAME: /y//C/4109 E`L c rJG 4 1t q <br /> TITLE: ,ES/1fr-il7- <br /> DATE: 41./®, dC0/5 <br /> By4L-423- <br /> Signature <br /> NAME: Kelm u 44 • uiLtANKGr- <br /> TITLE: cSeCAF.77"-V <br /> DATE: /4,/©, o46,/.5 <br /> Appendix 5 <br /> Page 2 of 2 <br />