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Town Administrator <br />Town of Estes Park <br />170 MacGregor <br />P.Q. Box 1200 <br />Estes Park, Colorado 80517 <br />or at such other address as furnished to <br />Subdistrict by Estes Park. <br />(b) Default. Subdistrict may, in its sole discretion, <br />declare Petitioner to be in default of this <br />allotment contract if all annual payments due <br />under this allotment contract are not made by or <br />on behalf of Petitioner, or if the letter of <br />credit or escrow account described in paragraph <br />9(b) above are not maintained or renewed as <br />required therein, within 15 days of the date of <br />the Notice of Non-payment__ provided in accordance <br />with Article 10(a) hereof. Subdistrict shall not <br />be deemed to have waived or relinquished the right <br />to declare a default by virtue of any delay in the <br />declaration of such default after the expiration <br />of the 15 day period provided for in this Article <br />10(b). <br />(c) Reversion. Upon the declaration of default by the <br />Subdistrict, this allotment contract shall <br />terminate, and Petitioner shall have no further <br />right, title or interest in the 6 Units of <br />Subdistrict water under this allotment contract <br />except as is provided in Article 10(d) below. At <br />the time of any such default if all bonds or other <br />fixed indebtedness incurred by the Subdistrict for <br />the Windy Gap Project during any period prior to <br />transfer of a part of or all of Petitioner's <br />allotment have been paid in full, all right, title <br />and interest in and to the 6 Units of Subdistrict <br />water under this allotment contract shall vest in <br />the Subdistrict for subsequent use or disposition <br />in its sole and exclusive discretion in the event <br />that the annual obligations created by article <br />5(a)(ii), (iii), (iv) and (v) hereof are not paid. <br />At the time of any such default if there exist <br />amounts due under any of the bonds or other fixed <br />indebtedness incurred by the Subdistrict for the <br />Windy Gap Project during any period prior to <br />transfer of a part of or all of Petitioner's <br />allotment, all right, title and interest in or to <br />the 6 Units of Subdistrict water under this <br />allotment contract shall immediately re -vest in <br />