CT2019-3687 Contract

• Contract/PO #: CT2019-3687
• Contractor Name: Central Colorado Water Conservancy District, Groundwater Management Subdistrict
• 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 herei or in the Promissory
Note or Contract;or
b. dissolution, termination of existence, insolvency, business failure, appoin ent of a receiver of
any part of the property of, assignment for the benefit of creditors by, or e 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 11-57-208, Colorado Revised Statutes. 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 sixty(60)Business Days of receipt of such notice before the Borrow r shall be considered
in default for purposes of this Security Agreement. No default shall be waived b Secured Party except
in writing, and no waiver by Secured Party of any default shall operate as a waiver f 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 A eement;but Secured
Party shall retain its rights of set-off against the Borrower. In the event court actio is deemed necessary
to enforce the terms and conditions set forth herein, said action shall only be broug tin the District Court
for the City and County of Denver, State of Colorado, and the Borrower consents o venue and personal
jurisdiction in said Court.
All rights of Secured Party hereunder shall inure-to the benefit of its successo s and assigns; and all
promises and duties of the Borrower shall bind its successors or assigns.
Central Colorado Water Conservancy District,
Grou �water Management Subdistrict
By: 1„_, Z , ' C
Signature
•
Attest:
By: Name: g{*ubt..C_C. es/et-ha:n.1
Signature
Title: --Pgx_s,- _ J1
Name: tvo'( 'Y'
,---, Date: 41 1G I.1
Title: 7C6CLel UF to c e 71Z-_-
Date: 1{ 116 119
Contract Number:CT2019-3687
Appendix 5
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