Laserfiche WebLink
a. default in the payment or performance of any obligation contained herein or in the Promissory <br /> Note or Contract; or <br /> b. dissolution, termination of existence, insolvency, business failure, appointment of a receiver of <br /> any part of the property of, assignment for the benefit of creditors by, or the commencement of <br /> any proceeding under any bankruptcy or insolvency law of, by or against the Borrower; or <br /> c. the making or furnishing of any warranty, representation or statement to Secured Party by or on <br /> 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 secured party <br /> under Section 11-57-208, Colorado Revised Statutes. Secured Party may require the Borrower to deliver <br /> or make the Pledged Revenues available to Secured Party at a place to be designated by Secured Party, <br /> which is reasonably convenient to both parties. Expenses of retaking, holding, preparing for sale, selling <br /> 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(60)Business Days of receipt of such notice before the Borrower shall be considered <br /> in default for purposes of this Security Agreement. No default shall be waived by Secured Party except <br /> in writing, and no waiver by Secured Party of any default shall operate as a waiver of any other default or <br /> of the same default on a future occasion. The taking of this Security Agreement shall not waive or impair <br /> any other security Secured Party may have or hereafter acquire for the payment of the above indebtedness, <br /> nor shall the taking of any such additional security waive or impair this Security Agreement; but Secured <br /> Party shall retain its rights of set-off against the Borrower. In the event court action is deemed necessary <br /> to enforce the terms and conditions set forth herein, said action shall only be brought in the District Court <br /> for the City and County of Denver, State of Colorado, and the Borrower consents to venue and personal <br /> 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 /> Arabian Acres Metropolitan District, acting by and <br /> through the water activity enterprise <br /> ,/e�� <br /> ignature <br /> Attest: <br /> By: Name: `le.vnr;{i 1/1(6 L�Ce r— <br /> Signature <br /> Title: c <br /> Name: ° 6d �2 //?w <br /> J 2 . 2 v - Zvi <br /> -7-a��Gi7e Date: <br /> Title: <br /> Date: �� `2©/7 <br /> Contract Number: <br /> Appendix 5 <br /> Page 2 of 2 <br />