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<br />or the commencement of any proceeding under any bankruptcy or insolvency law <br />of, by or against DEBTOR; or <br />c. the making or furnishing of any warranty, representation or statement to SECURED <br />PARTY by or on behalf of DEBTOR which proves to have been false in any material <br />respect when made or furnished. <br />UPON SUCH DEFAULT and at any time thereafter, SECURED PARTY shall have the <br />remedies of a secured party under Article 9 of the Colorado Uniform Commercial Code. <br />SECURED PARTY may require DEBTOR to deliver or make the eOLLATERAL available to <br />SECURED PARTY at a place to be designated by SECURED PARTY, which is reasonably <br />convenient to both parties. Expenses of retaking, holding, preparing for sale, selling or <br />the like shall include SECURED PARTY'S reasonable attorney's fees and legal expenses. <br />The SECURED PARTY shall give the DEBTOR written notice of any alleged <br />default and an opportunity to cure within thirty (30) days of receipt of such notice before <br />the DEBTOR shall be considered in default for purposes of this Security Agreement. No <br />default shall be waived by SECURED PARTY except in writing, and no waiver by SECURED <br />PARTY of any default shall operate as a waiver of any other default or of the same default <br />on a future occasion. The taking of this security agreement shall not waive or impair any <br />other security SECURED PARTY may have or hereafter acquire for the payment of the <br />above indebtedness, nor shall the taking of any such additional security waive or impair <br />this security agreement; but SECURED PARTY shall retain its rights of set-off against <br />DEBTOR. In the event court action is deemed necessary to enforce the terms and <br />conditions set forth herein, said action shall only be brought in the District Court for the <br />City and County of Denver, State of eolorado, and DEBTOR consents to venue and <br />personal jurisdiction in said Court. <br />All rights of SECURED PARTY hereunder shall inure to the benefit of its successors <br />and assigns; and all promises and duties of DEBTOR shall bind its successors or assigns. <br />DEBTOR: St, Vrain Sanitation District, acting <br />by and through its te~Acti.ty Enterprise <br />SEAL <br />By <br />Brad agen, President <br /> <br /> <br />ATTEST: <br />By <br /> <br />Appendix C to Loan Contract C150036 Amendment No.2 <br /> <br />