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against BORROWER; or <br /> c. the making or furnishing of any warranty, representation or statement to SECURED PARTY <br /> by or on behalf of BORROWER which proves to have been false in any material respect <br /> 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 <br /> PARTY may require BORROWER to deliver or make the COLLATERAL available to SECURED PARTY at <br /> a place to be designated by SECURED PARTY, which is reasonably convenient to both parties. <br /> Expenses of retaking, holding, preparing for sale, selling or the like shall include SECURED PARTY'S <br /> reasonable attorney's fees and legal expenses. In the event of a conflict between the provisions of <br /> Section 11-57-208, Colorado Revised Statutes, as amended, and this Security Agreement, the <br /> provisions of such statute shall control. <br /> The SECURED PARTY shall give the BORROWER written notice of any alleged default and <br /> an opportunity to cure within thirty (30) days of receipt of such notice before the BORROWER <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 of <br /> any such additional security waive or impair this SECURITY AGREEMENT; but SECURED PARTY shall <br /> retain its rights of set-off against BORROWER. 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 BORROWER consents to venue <br /> and 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 BORROWER shall bind its successors or assigns. <br /> LOOKOUT MOUNTAIN WATER DISTRICT, ACTING BY <br /> AND TROUGH ITS WATER ACTIVITY ENTERPRISE <br /> (SEAL) <br /> Attest: Signature <br /> NAME: .bbo ,, et 6L <br /> TITLE: cl <br /> DATE: / '-�9 <br /> By Lti c <br /> / / /Signature <br /> • <br /> NAME: l /!�/ //�rL� (=w <br /> TITLE: Q(/► GC �/ <br /> DATE: / _ <br /> Appendix 5 <br /> Page 2 of 2 <br />