CT2017-1402 Attorney Opinion Letter

• Contract/PO #: CT2017-1402
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

C. the making or furnishing of any warranty, representation or statement to SECURED PARTY by or on
behalf of the BORROWER which proves to have been false in any material respect when made or
furnished.
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 the
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 (3o) 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 the 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 the 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 the BORROWER shall bind its successors or assigns.
BORROWER:The North Poudre Irrigation
Company,a Colorado nonprofit corporation
(S E A L) �1 {�
BY: - '
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ture
Attest:
NAME: /'f .d S /06,654A/
Tau:`'2�4..tAdG�l/t2
DATE: VIC,
BY
Signature
NAME: SUA.110 WO�• E. O N
27
TITLE: C 1[
DATE: $//0/c7 o r 4
Appendix 5
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