Laserfiche WebLink
<br />OEBTOR SHALL BE IN DEFAULT under this agreement upon the happening of any of the following <br />events or conditions: <br /> <br />a. default in the payment or performance of any obligation, covenant or liability contained or referred <br />to herein or in any note evidencing the same; <br /> <br />b. the making or furnishing of any warranty, representation or statement to SECURED PARTY by or on <br />behalf of OEBTOR which proves to have been false in any material respect when made or <br />furnished; <br /> <br />c. loss, theft, damage, destruction, sale or encumbrance to or of any of the COLLATERAL, or the <br />making of any levy seizure or attachment thereof or thereon; <br /> <br />d. death, dissolution, termination of existence, insolvency, business failure, appointment of a receiver <br />of any" part of the property of,' assignment for the benefit of creditors by, or the commencement of <br />any proceeding under any bankruptcy or insolvency law of, by or against OEBTOR or any guarantor <br />or surety for DEBTOR. <br /> <br />UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure, SECURED PARTY may <br />declare 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 <br />deliver or make the COLLATERAL available to SECURED PARTY at a place to be designated by SECURED PARTY <br />which is reasonably convenient to both parties. Expenses of retaking, holding, preparing for sale, selling or the <br />like shall include SECURED PARTY'S reasonable attom@Y's fees and legal expenses. In the event court action is <br />deemed necessary to enforce the terms and conditions set forth herein, said action shall only be brought in the <br />District Court for the City and County of Denver, state of Colorado, and DEBTOR consents to venue and <br />personal jurisdiction in said Court. <br /> <br />No default shall be waived by SECURED PARTY except in writing, and no waiver by SECURED PARTY of <br />any default shall operate as a waiver of any other d13fault or of the same default on a future occasion. The <br />taking of this security agreement shall not waive or impair any other security said SECURED PARTY may have or <br />hereafter acquire for the payment of the above indebtedness, nor shall the taking of any such additional <br />security waive or impair this security agreement; but said SECURED PARTY shall retain its rights of set-off <br />against DEBTOR. <br /> <br />All rights of SECURED PARTY hereunder shall inure to the benefit 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 <br />there be more than one DEBTOR, their liabilities hereunder shall be joint and several. <br /> <br />Executed this ~ ~ day of Jd..a. Gc.l ~( 1997. . <br /> <br />DEBTOR: The Town of Morrison <br /> <br />By <br /> <br /> <br />Ma Poe, Mayor <br /> <br />A <br /> <br /> <br />(SEAL) <br />