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to transfer of a part or all of Petitioner's <br />allotment is paid in full according to the terms <br />of any bond indenture or other indenture issued by <br />Subdistrict. If Petitioner, with approval of the <br />Board, transfers all or part of its allotment to <br />another entity within the Subdistrict, it shall be <br />relieved of the requirement to maintain a letter <br />of credit or escrow account to the extent that the <br />transferee provides equivalent substitute <br />security. <br />(c) Petitioner, Superior and Estes Park agree that the <br />existence of or reliance upon the letter of credit <br />or escrow account does not affect or modify <br />Petitioner's obligations hereunder or the <br />obligations of Superior or Estes Park to <br />Subdistrict under the Water Allotment Contracts <br />dated April 1, 1988, -and July 11, 1975, <br />respectively. <br />10. Default. <br />(a) Notice of Non -Payment or Non -Renewal. If any <br />payment of annual charges, as herein provided, is <br />not made by the due date, 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, written notice thereof will be <br />given by the Subdistrict to Petitioner at the <br />following designated address: <br />City of Louisville <br />749 Main Street <br />Louisville, Colorado 80027 <br />Attention: City Manager <br />or at such other address as is furnished to <br />Subdistrictby the Petitioner, and to Superior at <br />the following designated address: <br />Public Works and Utilities <br />Town of Superior <br />124 E. Coal Creek Drive <br />Superior, Colorado 80027 <br />or at such other address as is furnished to <br />Subdistrict by Superior, and to Estes Park at the <br />following designated address: <br />7 <br />