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behalf of the BORROWER which proves to have been false in any material respect when made or <br /> furnished. <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 the <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 opportunity <br /> to cure within sixty(6o)days of receipt of such notice before the BORROWER shall be considered in default for <br /> purposes of this SECURITY AGREEMENT. No default shall be waived by SECURED PARTY except in writing,and no <br /> waiver by SECURED PARTY of any default shall operate as a waiver of any other default or of the same default on a <br /> future occasion. The taking of this SECURITY AGREEMENT shall not waive or impair any other security SECURED <br /> PARTY may have or hereafter acquire for the payment of the above indebtedness,nor shall the taking of any such <br /> additional security waive or impair this SECURITY AGREEMENT;but SECURED PARTY shall retain its rights of set-off <br /> against the BORROWER. In the event court action is deemed necessary to enforce the terms and conditions set <br /> forth herein, said action shall only be brought in the District Court for the City and County of Denver,State of <br /> Colorado,and the 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;and all <br /> promises and duties of the BORROWER shall bind its successors or assigns. <br /> BORROWER:Consolidated Ditch and Headgate <br /> Company <br /> (SEAL) i <br /> 4 1 1 <br /> BY: <br /> Signature <br /> Attest: <br /> SCO r S c-1.a.e/�v� <br /> NAME: <br /> TITLE: pre S r o co 41 <br /> ‘ O <br /> DATE: 'F`�°� <br /> BY: I��//�y� �l k <br /> /NI Pr <br /> Signature t <br /> NAME: G�I-/A/{.r 5 W. a ( 1(l <br /> TITLE: 4 A ♦I' <br /> DATE: 1/ D�/7 <br /> Appendix 5 <br /> Page 2 of 2 <br />