CT2016-2794 Contract - Laserfiche WebLink

Home Browse Search

Upon such default and at any time thereafter, SECURED PARTY shall have the remedies of a secured party under Article 9 of the Colorado Uniform Commercial Code. SECURED PARTY may require BORROWER to deliver or make the PLEDGED REVENUES available to SECURED PARTY at a place to be designated by SECURED PARTY, which is reasonably convenient to both parties. Expenses of retaking, holding, preparing for sale,selling or the like shall include SECURED PARTY'S reasonable attorney's fees and legal expenses. The SECURED PARTY shall give the BORROWER written notice of any alleged default and an opportunity to cure within thirty(30)days of receipt of such notice before the BORROWER shall be considered in default for purposes of this SECURITY AGREEMENT. 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 set-off against BORROWER. 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 Court for the City and County of Denver, State of Colorado, and BORROWER consents to venue and personal jurisdiction in said Court. All rights of SECURED PARTY hereunder shall inure to the benefit of its successors and assigns;and all promises and duties of BORROWER shall bind its successors or assigns. BORROWER: Lake McIntosh Reservoir Company, (SEAL) a Color do rporati By: Ignature Attest NAME: I\A tb,„, TITLE: -prey'i jell+ DATE: "19" 7.O'6 ,� , Signature NAME: al-I TITLE: ite_ DATE: `-Y' -I g''c O//+ Appendix 5 Page 2 of 2 J