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<br />II.\". <br />,'}, , <br />'\) <br />\," <br /> <br />S-I'\ <br />,,~ <br />J',7 <br />" <br /> <br />-j <br /> <br />the payment of water user charges and fees and in the Allotment <br />Contract consistent with the terms of such contract; <br /> <br />C 4. take any other appropriate legal action, including, but not ') t~H <br />limited to, an action enforcing specific performance of the obligations in Yj <br />paragraphs BS, B9, and BlO of this Contract. .. 11"(5, <br /> <br />All remedies described herein may be simultaneously, (i:.O <br />selectively or successively enforced, except as stated below. No <br />delay or failure of the State in exercising any right, power or <br />privilege under this Contract shall operate as a waiver thereof. <br /> <br />In addition, the provisions of this Contract may be enforced by the) <br />State at its option without regard to prior waivers by it of previous defaults by R~l <br />the Borrower, through jUdicial proceedings to require specific performance of the ~7 <br />obligations in paragraphs BS, B9, and BlO of this Contract, or by such other <br />proceedings in law or equity as may be deemed necessary by the State to ensure ivfS <br />compliance with provisions of this Contract and the laws and regulations under which t7cQ <br />this Contract is entered into. <br /> <br />The State shall not enforce its security interest in the <br />Allotment Contract unless the Borrower fails to make the first full <br />installment payment to the State within 60 days of the due date as <br />described in paragraph B.6 of this Contract, or the Borrower is at <br />any time in arrears to the State in an amount equal to one annual <br />installment payment under this Contract. However, the State shall <br />not enforce its security interest in the Allotment Contract if the <br />Borrower's default in payment is caused by an order of the Colorado <br />State Engineer, prohibiting storage and release of water from <br />Carter Lake Reservoir. <br /> <br />If the State does enforce its security interest in the <br />Borrower's interest in the Allotment Contract, the State or any <br />person to whom the State lawfully leases or assigns the Borrower's <br />interest thereunder shall fully perform the obligations and receive <br />the benefits thereunder, subject to the terms of the Allotment <br />Contract. ' <br /> <br />Consistent with this contract, the State further agrees <br />to return Borrower's interest in the Allotment Contract to the <br />Borrower as soon as possible after the default has been cured and <br />the Borrower reasonably demonstrates that the Borrower is competent <br />to comply with all terms of the Allotment Contract. <br /> <br />D. After the Borrower has completely repaid the State all <br />moneys covered by this Contract, the State will relinquish or <br />convey to the Borrower in a manner permitted by law all of the <br />State's right, title and interest in and to the Allotment Contract <br />and revenues pledged herein. <br /> <br />E. This Contract is personal in nature and assignment of <br />performance by the Borrower to another is prohibited unless prior <br />approval in writing is granted by the State. <br /> <br />F. The parties to this Contract intend that the relationship <br />between them contemplated by this Contract is that of lender- <br />borrower, not employer-employee nor principal-agent. No agent, <br /> <br />Page 9 of 12 pages <br /> <br />o <br />