LPPD000408

• Contract/PO #: C153721
• Contractor Name: Lyons, Town of
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Loan Projects - Doc Type: Contract Documents

AMENDED SECURITY AGREEMENT

DEBTOR:

Town of Lyons
P.O. Box 49
Lyons, CO 80540
84-6000690

FEDERAL TAX NUMBER:
COUNTY:
SECURED PARTY:

I

VL

COLLATERAL:

BOULDER (CODE: 07)

State of Colorado - Colorado Water Conservation Board
1313 Sherman Street, Room 721
Denver, CO 80203

Contract Rights (Code: 030)

DEBTOR, for consideration, hereby grants to SECURED PARTY a security interest in the following property
and any and all additions, accessions and substitutions thereto or therefor, hereinafter called the
COLLATERAL: Water system revenues pledged to repay the amount loaned to DEBTOR by SECURED
PARTY, as described in the Pledge of Revenues provisions in Loan Contract No. C153721, as
amended.

To secure payment of the indebtedness evidenced by the above-referenced Loan Contract between
the above named parties herewith, in the amount of $226,979.86 at an interest rate of 5% per annum
for a term of 20 years, payable by DEBTOR to the SECURED PARTY until all principal and interest are paid
in full in accordance with said Loan Contract. The parties are amending this security agreement as
part of Amendment No. 1 to the Loan Contract, which documents the revised principal of the loan,
which totals $226,979.86.

DEBTOR EXPRESSLY WARRANTS AND COVENANTS:

1. That except for the security interest grant hereby, DEBTOR is, or to the extent that this agreement
states that the COLLATERAL is to be acquired after the date hereof, will be, the owner of the
COLLATERAL free from any adverse lien, security interest or encumbrances.

2. That the execution and delivery of this agreement by DEBTOR will not violate any law or agreement
governing DEBTOR or to which DEBTOR is a party.

3. That, if DEBTOR is a corporation, its certificate and articles of incorporation and by-laws do not
prohibit any term or condition of this agreement.

4. That by its acceptance of the loan money pursuant to the terms of the CONTRACT and by its
representations herein, DEBTOR shall be estopped from asserting for any reason that it is not
authorized to grant a security interest in the COLLATERAL pursuant to the terms of this agreement.

5. To pay all taxes and assessments of every nature which may be levied or assessed against the
COLLATERAL.

6. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the
COLLATERAL and not to permit the same to be attached or replevined.

7. That the DEBTOR will not use the COLLATERAL in violation of any applicable statutes, regulations,
ordinances, articles of incorporation or by-laws.

UNLESS IT DEFAULTS DEBTOR may have possession of the COLLATERAL, provided that DEBTOR

Attachment C to Loan Contract C153721 Amendment No.1