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Upon such default and at any tune thereafter, SECURED PARTY shat have the remedies of a <br /> secured party under Article 9 of the Colorado Uniform Commercial Code. SECURED PARTY may require <br /> BORROWER to deliver or make the PLEDGED REVENUES available to SECURED PARTY at a place to be designated <br /> by SECURED PART,which is reasonably convenient to both parties. Expenses of retaking, holding, preparing <br /> for sale,sang or the like shall include SECWIED PARTY'S reasonable attorney's fees and legal expenses. <br /> The SECURED PARTY shall give the BORROWER written notice of any alleged default and an <br /> opportunity to cure within thirty(30)days of receipt of such notice before the BORROWER shall be considered <br /> in default for purposes of this SECURITY AGREEMENT. No default shat be waived by SECURED PARTY except in <br /> wrling,and no waiver by SECURED PARTY of any default shal operate as a waiver of any other default or of the <br /> same default on a future occasion. The taking of this SECURITY AGREEMENT shag not waive or impair any other <br /> security SECURED PARTY may have or hereafter acquke for the payment of the above indebtedness, nor shall <br /> the taking of any such additional security waive or knpair this SEcuRmr AGREEMENT; but SECURED PARTY shall <br /> retain its rights of set-off against BORROWER. 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 City and <br /> County of Denver, State of Colorado, and BORROWER consents to venue and personal jurisdiction in said <br /> Court. <br /> Al rights of SECURED PARTY hereunder shall inure to the benefit of its successors and assigns;and all <br /> promisesppd«de&9f BORROWER shall bind its successors or assigns. <br /> q'4 1 ' <br /> *�.. r BORROWER:The B •hton Ditch Company, <br /> j r a nonprofit P. ... .1P. <br /> (' ESL .�A <br /> ,. *,.. Bysjz.:1 <br /> c„, <br /> r-1 ...4. <br /> �A‘,____ <br /> `..r' el Signature <br /> Attes iAlPA1t,,.,"° ` ` <br /> °'°� i o..w:+ �'"x NAME: Ra 1 T [ cl3a.k Ct <br /> Trri.E: 1�e' 'c1>nt- <br /> / DATE: ttitott(C <br /> By �z.sz- 0 <br /> ignaturre / <br /> NAME: �4-e.//K..7 <br /> TITLE: �� <br /> DATE: / - ( (r - / L <br /> Appendix 5 <br /> Page 2 of 2 <br />