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17. As set forth above, Events of Default have occurred under the Red Arrow Deed of
<br />Trust and related Red Arrow Loan Documents. As a result, the Red Arrow Collateral is in
<br />immediate danger of being materially injured or reduced in value. Accordingly, the Lender is
<br />entitled to the immediate appointment, without notice, of a receiver for the Red Arrow
<br />Collateral, pursuant to the terms of the Red Arrow Loan Documents and C.R.S. §38 -38 -601, et.
<br />seq.
<br />18. Jaeger Kottmeier Associates is an experienced court appointed receiver familiar
<br />with issues involved in managing and operating properties and is qualified to act as receiver in
<br />this case.
<br />IT IS THEREFORE ALSO ORDERED, ADJUDGED, AND DECREED:
<br />(a) that Jaeger Kottmeier Associates is appointed as receiver ( "Receiver ") to act and
<br />serve as receiver with respect to the Red Arrow Collateral and with respect to any income
<br />therefrom, whether now existing or hereafter collected, including the Red Arrow Mine
<br />(collectively, the "Red Arrow Rents and Profits "), and income from the Red Arrow Mine
<br />(collectively, the "Property "), with Marcie Jaeger to serve as the Receiver's lead principal in
<br />connection with performance of the Receiver's duties;
<br />(b) that Lender shall give notice of the appointment of the Receiver in compliance
<br />with C.R.C.P. 66;
<br />(c) that the Receiver shall take and have complete and exclusive control, possession
<br />and custody of the Red Arrow Collateral, together with any and all bank accounts, receipts,
<br />demand deposits, reimbursement rights, bank deposits, security deposits, and all other forms of
<br />accounts, accounts receivable, payment rights, cash, and cash equivalents;
<br />(d) that the Receiver shall take any and all actions the Receiver deems reasonable and
<br />appropriate to prevent waste to and to preserve, secure, operate, manage, maintain and safeguard
<br />the Red Arrow Collateral and all other forms of property to which the Receiver is entitled to take
<br />possession and control under the Court's order and that the Sheriff's assistance to enforce the
<br />terms of this Order in the form of peace- keeping duties is authorized by the Court;
<br />(e) that the Receiver shall notify all tenants, occupants, and purchasers of the
<br />Property, or any portion thereof, immediately upon such appointment, whereupon, all tenants
<br />should be instructed to make all rental payments to the Receiver, and all purchasers of the
<br />Property or any portion thereof shall be instructed to make all payments to the Receiver;
<br />(f) that APG and RAGC (collectively, the "Defendants "), together with their
<br />respective managers, members, directors, and officers, and all persons acting under the direction
<br />of any of them shall deliver possession of the Red Arrow Collateral to the Receiver, without any
<br />right of offset or recoupment, and including all Lands, Minerals, Operating Equipment and
<br />Facilities (including all keys), Plans, Records and Data constituting a part of the Red Arrow
<br />Collateral (without the necessity of a confidentiality agreement between the parties and at no cost
<br />to the Receiver or the Lender), together with all cash forming a part of the Red Arrow Collateral,
<br />then or thereafter in the possession of each of the Defendants, all sums relating to the use,
<br />I1
<br />HRODEM 646830 1
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