C153623 Contract - Laserfiche WebLink

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,:-..,.-~~ 16. attached herein. Comply with the Construction Fund Program Procedures hereto as Exhibit D and incorporated by reference 17. Comply with the provisions of section 37-60-120, C.R.S., and any other applicable statutes, procedures, requirements, rules, or regulations which the state has. lB. Not sell, convey, assign, grant, transfer, mortgage, pledge, encumber, or otherwise dispose of the project or any portion thereof or the assessment revenues pledged to repay the loan as required by paragraph L. herein, so long as any of the annual installments required by paragraph A.13. above remain unpaid, without the prior written concurrence of the State. B. Upon default in the payments herein set forth to be made by the Contractor, or default in the performance of any covenant or agreement contained herein, the State, at its option, may: (a) declare the entire principal amount then outstanding immediately due and payable; (b) for the account of the Contractor, incur and pay reasonable expenses for repair, maintenance, and operation of the project herein described and such expenses as may be necessary to cure the cause of default; (c) take possession of the project, repair, maintain, and operate or lease it; (d) act upon the security (described in paragraph A.14. above) conveyed to the State; (e) take action to enforce paragraphs A.11. and 13. above; and/or (f) take any other appropriate legal action. All remedies described herein may be simultaneously or selectively and successively enforced. The provisions of this contract may be enforced by the state at its option without regard to prior waivers by it of previous defaults by the Contractor, through judicial proceedings to require specific performance of this contract, or by such other proceedings in law or equity as may be deemed necessary by the Page 2 of 17 Pages