C150335 PIF Documents

• Contract/PO #: C150335
• Contractor Name: Cemter of Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

COLLATERAL.
DEBTOR SHALL BE IN DEFAULT under this agreement upon any of the
following events or conditions:
a. default in the payment or performance of any obligation contained herein or in the
Promissory Note or Loan Contract;
b. dissolution, termination of existence, insolvency, business failure, appointment of
a receiver of any part of the property of, assignment for the benefit o`creditors by,
or the commencement of any proceeding under any bankruptcy or insolvency law
of, by or against DEBTOR; or
c. the making or furnishing of any warranty, representation or statemer t to SECURED
PARTY by or on behalf of DEBTOR which proves to have been false in any material
respect when made or furnished.
UPON SUCH DEFAULT and at any time thereafter, S: 7 ,all have the
remedies of a secured party under Article 9 of the C orado ,r; , dal Code.
SECURED PARTY may require DEBTOR to deliver or e COLLA -e- ,vailable to
SECURED PARTY at a place to be designated by S P ,'y a reasonably
convenient to both parties. Expenses of retaking, holding, p '-r s - --: - -elling or
the like shall include SECURED PARTY'S reasonable attorney's fees a e`' - a; v ses.
The SECURED PARTY shall give the DEBTOR written notice o' any alleged
default and an opportunity to cure within thirty (30) days of receipt of such notice before
the DEBTOR shall be considered in default for purposes of this Security Ag eeenent. No
default shall be waived by SECURED PARTY except in writing, and no waiver by SECURED
PARTY of any default shall operate as a waiver of any other default or of the same default
on a future occasion. The taking of this security agreement shall not waive or impair any
other security SECURED PARTY may have or hereafter acquire for the payment of the
above indebtedness, nor shall the taking of any such additional security waive or impair
this security agreement; but SECURED PARTY shall retain its rights of sat-off against
DEBTOR. In the event court action is deemed necessary to enforce the terms and
conditions set forth herein, said action shall only be brought in the District Co'rt for the
City and County of Denver, State of Colorado, and DEBTOR consents venue and
personal jurisdiction in said Court.
All rights of SECURED PARTY hereunder shall inure to the benefit of i s si ccessors
and assigns; and all promises and duties of DEBTOR shall bind its successo < or assigns.
(SEAL) DEBTOR: Center of Colorado W- -r
Conservancy District, a Title -r
Conserve �•
ATTEST: By /III LIP"'
Eli •eth McVicker, P.esident
By
Ge i S ig, Secretary
Appendix 4 to Loan Contract C150335
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