Laserfiche WebLink
<br />DEBTOR SHALL BE IN DEFAULT under this agreement upon the happening of any of the following events <br />or conditions: <br /> <br />a. default in the payment or performance of any obligation, covenant or liability contained or referred to <br />herein or in any note evidencing the same; <br /> <br />b. the making or furnishing of any warranty, representation or statement to SECUREO PARTY by or on behalf <br />of DEBTOR which proves to have been false in any material respect when made or fumished; <br /> <br />C. loss, theft, damage, destruction, sale or encumbrance to or of any of the COLLATERAL, or the making of <br />any levy seizure or attachment thereof or thereon; <br /> <br />d. dissolution, termination of existence, insolvency, business failure, appointment of a receiver of any part of <br />the property of, assignment for the benefit of creditors by, or the commencement of any proceeding under <br />any bankruptcy or insolvency law of, oy or against DEBTOR or any guarantor or surety for DEBTOR. <br /> <br />UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure, SECURED PARTY may <br />deciare all Obligations secured hereby immediately due and payable and shall have the remedies of a secured <br />party under Article 9 of the Colorado Uniform Commercial Code. SECURED PARTY may require DEBTOR to deliver or <br />make the COLLATERAL available to SECURED PARTY at a place to be designated by SECURED PARTY which is <br />reasonably convenient to both parties. Expenses of retaking, holding, preparing for sale, selling or the like shall <br />include SECUREO PARTY'S reasonable attorney's fees and legal expenses. In the event court action is deemed <br />necessary 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 DEBTOR consents to venue and personal jurisdiction in <br />said Court. <br /> <br />No default shall be waived by SECUREO PARTY except in writing, and no waiver by SECURED PARTY of any <br />default shall operate as a waiver of any other default or of the same default on a future occasion. The taking of this <br />security agreement shall not waive or impair any other security said SECURED PARTY may have or hereafter acquire <br />for the payment of the above indebtedness, nor shall the taking of any such additional security waive or impair this <br />security agreement; but said SECURE:O PARTY shall retain its rights of set-off against DEBTOR. <br /> <br />All rights of SECURED PARTY hereunder shall inlire to the benem of its successors and assigns; and all <br />promises and duties of DEBTOR shall bind its heirs, executors or administrators or its successors or assigns. If there <br />be more than one DEBTOR, their liabilities hereunder shall be joint and several. <br /> <br />Dated this iliday of t1 ~ :1000. <br /> <br />SEAL <br /> <br /> <br />By <br /> <br />