C153521 Contract - Laserfiche WebLink

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"" :3''' oS <= - 30- ..~ ;a~ :?~ .. - c ~ Ii: l.d' ~5< ~.- ~ :o~ l'lg. c = a.~ :;"0 "'" .' 5. BOOK Promptly ttnotify Secured Pany of any change in the location of the Collateral. 761 1733 PAGE 6. To pay all ta.'{es and a.<;sessments of every n~rure which may be levied or assessed against the Collateral. 7. Not to permit or allO\\" any adverse lien. security interest or encumbrance whatsoever upon the CollarenLi and not to pennit the s:.lJne t~ -be auached or replevined. 8. That the Collateral is in good condition. and that he will. at his own expense, keep the same in g00d condition and from time to time. fonhwith. replace and repair all such parts of the Collaten:lJ as may be broken. \),'om out. or damaged without allowing any lien to be created upon the Collateral on acL'oum of such replacement or repairs. and that the Secured Party may examine and inspect the Collaterul at any time. wherever kx.:med. 9. That he will not use the Collateral in violation of any applicable statutes. regulations or ordinances. 10. The Debtor will keep the Collateral at all times insured against risks of loss or damage by fire (including so- called extended coverage). theft and such other ca<;uahies as the Secured Party may reasonably require. including collision in the case of any motor vehicle. all in such amounts. under such forms of policies. upon such terms. for such periods. and wrinen by such companies or undernrriters as the Secured Party may approve. losses in all cases to be payable to the Secured Party and the Debtor as their interest may appear. AU policies of insurance shall provide for at least ten'days' prior writ:en notice of cancellaiion to the Secured Party; and the Debtor shall furnish tbe Secured Party with certificates of such insurance or other evidence satisfactory to the Secured Pany as to compliance with the provisions of this paragraph. The Secured Party may act as attorney for the Debtor in making, adjusting and senling claims under or cancelling such insurance and endorsing the Debtor's name on any drafts drawn by insurers of the Collateral. UNTIL DEFAULT Debtor may have possession of the Collateral and use it in any lawful manner, and upon default Secured Party shall have the imrnediare right to the possession of the CoUareral. DEBTOR SHALL BE IN DEFAULT under this agreement upon the happening of any of the following events or conditions: (a) default in the payment or performance of any obligation. covenant or liability contained or referred to herein or in any note evidencing the same; (b) the making or Furnishing of any warranly, representation or statement to Secured Party by or on behaf of Debtor which proves to have been false in any material respect when made or furnished; (c) loss. theft. damage, desuuction. sale or encumbrance to or of any of the Collateral, or the making of any levy seizure or attachment thereof or thereon; (d) death. dissolution. tennination or existence. insolvency. business fdilure. appointment of a receiver of an~art of the property of. assignment for the benefit of creditors by. or the commencemem of any proci9~~nv b . or insolvency laws of. by or against Debtor or any guarantor or surely for Debtor. It' :rJl':"W . UPON SUCH DEFAULT and at any time thereafter. or if it deem, ilser i~l~\l.re~~'fl'! <!.lI'IWO!l\tOO. Obligations secured hereby immediately due and payable and shall have the remedies ora-secured pany under Artlcle9 of the Colorado Uniform Cummerci:.ll Cod~. Secured Party may require Debtor to assemble the Collateral and deliver or make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both panies. Expenses of retaking. holding, preparing tor sale. selling or the like shall include Secured Party's reasonable auorney's fees and legal expenses. No waiver by Secured Party of any default shall operate as a wd.iver of any other default or of the same default on a Future J occasion. The taking of this security agreement shall not waive or impair any other security said Secured Patty may have or hereafter acquire tor the payment of the above indebtedness. nor shall the taking of any such additional secuJity waive or impair this security agreement: but said Secured Party may resort to any securily it may have in the order it may deem proper, and notwithstanding any collateral security. Secured Party shall retain its rights of set-off against Debtor. ~t?~ s~<J1I bind his heirs. e~e~utors (lr administf'Jwrs or his or its succeSSOni or assigns. If there be more than one Debtor. their" .:' _ liabilities hereunder shall be JOlOt ami sever-<1l. l' 4~ . i ~ '.:.. .:'.'.. Da'e ,his 9th day of Au~ust ,19 88 ~ .0. l.~F'I5~Y-1;":~~~::::::' "~r:,~c ,,;:~ "''''J~i ~,i V.'L -c: / ~{;I r,..,j . ~ Secretary ( . ~ ~ &iJ 'Ir>lri'"~'''rifv..""""tt:..i';-'''''~''''''''''''.'/'''''''"''_~'''''''':t<_II'''r''''d''_m''...''w" \::::.J ~ '<J ~ ~.