My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
C150264 Contract
CWCB
>
Loan Projects
>
DayForward
>
0001-1000
>
C150264 Contract
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/1/2013 11:30:42 AM
Creation date
1/22/2009 4:16:59 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150264
Contractor Name
Lower Latham Reservoir Company
Contract Type
Loan
Water District
0
County
Weld
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
35
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
SECURITY AGREEMENT <br />(PLEDGE OF REVENUES <br />DATE: JUNE 1, 2008 <br />DEBTOR: Lower Latham Reservoir Company <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br />PROMISSORY NOTE: $670,640, DATED JUNE 1, 2008 <br />TERMS OF REPAYMENT: 2.25% PER ANNUM FOR 30 YEARS <br />LOAN CONTRACT: C150264, DATED JUNE 1, 2008 <br />COLLATERAL: All revenues derived from Debtor's oil and gas royalties as <br />further provided in Section 7.B of the Project Summary, as <br />well as all Debtor's present and future assessments on stock <br />and all of Debtor's right to receive said assessment revenues. <br />To secure payment of the loan evidenced by the PROMISSORY NOTE payable in accordance <br />Wlth the TERMS OF REPAYMENT, or until all principal, interest, and late charges, if any, are paid in <br />full, the DEBTOR grants to SECURED PARTY a security interest in the above described <br />COLLATERAL. <br />DEBTOR EXPRESSLY WARRANTS AND COVENANTS: <br />1. That except for the security interest granted hereby and any other security interests <br />described in Section 5 of the Loan Contract Project Summary, DEBTOR is the owner of the <br />COLLATERAL free from any adverse lien, security interest or encumbrances; and that DEBTOR <br />will defend the COLLATERAL against all claims and demands of all persons at any time <br />claiming the same or any interest therein. <br />2. That the execution and delivery of this agreement by DEBTOR will not violate any law or <br />agreement governing DEBTOR or to which DEBTOR is a party. <br />3. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon <br />the COLLATERAL and not to permit the same to be attached or replevined. <br />4. That by its acceptance of the loan money pursuant to the terms of the CONTRACT and by its <br />representations herein, DEBTOR shall be estopped from asserting for any reason that it is not <br />authorized to grant a security interest in the COLLATERAL pursuant to the terms of this <br />agreement. <br />5. To pay all taxes and assessments of every nature which may be levied or assessed against <br />the COLLATERAL. <br />6. That the DEBTOR'S articles of incorporation and by-laws do not prohibit any term or condition <br />of this agreement. <br />UNTIL DEFAULT DEBTOR may have possession of the COLLATERAL, provided that <br />DEBTOR keeps the COLLATERAL in an account separate from other revenues of DEBTOR and <br />does not use the COLLATERAL for any purpose not permitted by the CONTRACT. Upon default, <br />SECURED PARTY shall have the immediate right to the possession of the COLLATERAL. <br />DEBTOR SHALL BE IN DEFAULT under this agreement upon any of the <br />following events or conditions: <br />Appendix 4 to Loan Contract C150264 <br />Page 1 of 2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.