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<br />5. Promptly 10 notifY Secured Party of any change in Ihe location of the Collateral.
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<br />6. To pay all taxes and assessmenlS of every nature which may be levied or assessed against the Collateral.
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<br />7. Not to permit or allow any adverse lien, security interest or encumbrance whatsoever upon the Collateral and not to
<br />permit the same to be attached or replevined.
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<br />8. That the Collateral is in good condition, and that he will, at his own expense, keep the same in good condition and
<br />from lime to time, forthwith, replace and repair all such parts of the Collaleral as may he broken, wom out, or damaged without
<br />allowing any lien to be created upon the Collateral on account of such replacement or repairs, and that the Secured Party may
<br />examine and inspect the Collateral at any time, wherever located.
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<br />9. That he will not use the Collateral in violation of any applicable statutes, regulations or ordinances.
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<br />) O. The Debtor will keep the Collateral al all times insured against risks of loss or damage by fire (including so-
<br />called exlended coverage), theft and such other casualties as the Secured Party may reasonably require, including collision
<br />in the case of any motor vehicle, all in such amounts, under such forms of policies, upon such terms, for such periods, and
<br />written by such companies or underwriters as the Secured Party may approve, losses in all cases 10 be payable to Ihe
<br />Secured Party and the Debtor as their interest may appear. All policies of insurance shall provide for at least ten days' prior
<br />written notice of cancellation to Ihe Secured Party; and the Debtor shall furnish the Secured Party wilh certificates of such
<br />insurance or other evidence satisfactory to the Secured Party as to compliance with the provisions of this paragraph. The
<br />Secured Party may act as attorney for the Debtor in making, adjusting and settling claims under or cancelling such
<br />insurance and endorsing the Debtor's name on any drafts drawn by insurers of the Collateral.
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<br />UNTIL DEFAULT Debtor may have possession of the Collaleral and use it in any lawful manner, and upon default
<br />Secured Party shall have the immediate right to the )X)ssession of the Collateral.
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<br />DEBmR SHALL BE IN DEFAULT under this agreement upon Ihe happening of any of Ihe following events or
<br />conditions:
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<br />(a) default in the payment or performance of any obligation, covenant or liability contained or referred to herein or in any
<br />note evidencing the same;
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<br />(b) the making or fumishing of any warranty, representation or statement to Secured Party by or on behalf of Debtor
<br />which proves to have been false in any material respect when made or furnished;
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<br />(c) loss, theft, damage. destruction, sale or encumbrance to or of any of the Collateral, or the making of any levy seizure
<br />or attachment thereof or thereon;
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<br />(d) death, dissolution, tem1ination or existence, insolvency, business failure, appointment of a receiver of any part or the
<br />property of, assignment for the benefit of creditors by, or the commencement of any proceeding under any bankruptcy or
<br />insolvency laws of, by or against Debtor or any guarantor or surety for Debtor.
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<br />UPON SUCH DEFAULT and at any lime thereafter, or if it deems itself insecure, Secured Party may declare all
<br />Obligations secured hereby immedialely due and payable and shall have the remedies of a secured party under Article 9 of Ihe
<br />Colorado Uniform Commercial Code. Secured Party may require Deblor to assemble Ihe Collateral and deliver or make il
<br />available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties. Expenses of
<br />retaking, holding, preparing for sale, selling or the like shall include Secured P-arty's reasonable attorney's fees and legal
<br />expenses.
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<br />No ""iver by Secured Party of any default shall operale as a wdiver of any other default or of the same default on a future
<br />occasion. The taJdng of this security agreement shall not waive or impair any other security said Secured Party may have or
<br />hereafter acquire (or the payment of the above indebtedness, nor shall the taking of any such additional security ""ive or impair
<br />this security agreement; but said Secured Party may resort to any security it may have in the order it may deem proper, and
<br />notwithstanding any collateral security, Secured Party shall retain its rights of set.off against Deblor.
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<br />All rights of Secured p,drty hereunder shall inure to the benefit of its successors and assigns; and all promises and duties of
<br />Debtor shall bind his heirs, executors or administrators or his or its successors or a'isigns. If there be more than one Debtor, their
<br />liabilities hereunder shaH be joint and several.
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<br />Date this / fr:J... day of ~
<br />The Trinchera Irrigation, Colorado Water
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<br />:Clii'~~!t::.:7J~(]A '0"'"
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<br />'1f<hi'Soo,ri.A"",~"",,,.,,,,,,.,~~,,.,_,,,,..~.=",,,,,..,"~ll""'dd".m"..'," EXHIBIT G Page 2 of 2
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<br />19 /913
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