C150360 Amend 1

• Contract/PO #: C150360 CT2015-141
• Contractor Name: East Mesa Water Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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 of 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 statement to SECURED
PARTY by or on behalf of DEBTOR which proves to have been false in any material
respect when made or fumished.
UPON SUCH DEFAULT and at any time thereafter, SECURED PARTY shall have the
remedies of a secured party under Section 11-57-208, Colorado Revised Statutes, as
amended. SECURED PARTY may require DEBTOR to deliver or make the COLLATERAL 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 DEBTOR written notice of 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 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 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
Court for the City and County of Denver, State of Colorado, and DEBTOR 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 DEBTOR shall bind its successors or assigns.
(S E A L)
Attest:01,1/1
By •
Signature
NAME:
Debtor: East Mesa Water Company,
a nonprofit cprpgration A
j��j Signature
NAME: l ' ( L r 7 1 " � L.5 IA fit. k
TITLE: � R s d tfA.-t
TITLE:T f0-- DATE: ' / 7 •
DATE: O/
Appendix 4 to Loan Contract C150360
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