CT2018-833 Contract

• Contract/PO #: CT2018-833
• Contractor Name: Southeastern Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

BORROWER 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 of creditors by, or the commencement of any proceeding
under any bankruptcy or insolvency law of,by or against the BORROWER;or
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 Section u-57-208,Colorado Revised Statues as amended.SECURED PARTY may require the BORROWER to
deliver or make the PLEDGED POWER 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 PARTYS 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: Southeastern Colorado Water
Conservancy District, acting by and through
its Water Activity Enterprise
(SEAL) ��
BY: �-r/\ &=�'
y Il Signature
Attest: NAME:
TITLE:
DATE:
BY:
Signature
NAME: e'15-4 A ha/AJ
TITLE: �/�"�
DATE:
Appendix 5
Page 2 Of 2