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under any bankruptcy or insolvency law of,by or against BORROWER;or <br /> c. the making or furnishing of any warranty, representation or statement to SECURED PARTY by r on <br /> behalf of BORROWER which proves to have been false in any material respect when made or furni hed. <br /> 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 /> BORROWER to deliver or make the PLEDGED REVENUES available to SECURED PARTY at a place to be designated by <br /> SECURED PARTY, which is reasonably convenient to both parties. Expenses of retaking, holding, preparing for <br /> sale,selling or the like shall include SECURED 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 opport nity <br /> to cure within thirty (30) days of receipt of such notice before the BORROWER shall be considered in de ault <br /> for 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 default <br /> on a future occasion. The taking of this SECURITY AGREEMENT shall not waive or impair any other sec ity <br /> SECURED PARTY may have or hereafter acquire for the payment of the above indebtedness,nor shall the taki g of <br /> any such additional security waive or impair this SECURITY AGREEMENT;but SECURED PARTY shall retain its rights <br /> of set-off against BORROWER.In the event court action is deemed necessary to enforce the terms and conditions <br /> set forth herein,said action shall only be brought in the District Court for the City and County of Denver,State <br /> of Colorado,and BORROWER 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; a all <br /> promises and duties of BORROWER shall bind its successors or assigns. <br /> UNION WELL AUGMENTATION GROUP,LTD., <br /> A COLORADO CORPORATION <br /> (SEAL) <br /> BY: <br /> Signature <br /> 'Atte�t: <br /> NAME: Gary Alles <br /> TITLE: President <br /> DATE: June 24, 2016 <br /> BY: �.mac. <br /> Signature <br /> NAME: Donna L. Coble <br /> TITLE: SerrPtary <br /> DATE: Juno 24, 2n16 <br /> Appendix 5 <br /> Page 2 of 2 <br />