C153837 contract docs - Laserfiche WebLink

Home Browse Search

� SECURITY AGREEMENT Debtor: Chatfield South Water District P. O. Box 474 Littleton, CO 80160-0474 FE�ERa� ID NuMBER: 84-1 4401 1 9 CouNTY: Douglas (CODE: 47) � SECURE� P,aRTY: State of Colorado - Colorado Water Conservation Board 1313 Sherman Street, Room 721 Denver, CO 80203 Co�u�TERA�: All Water Rights and Ditch Shares (Code: 560) 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 Co��TERa�: 34.20 acre-feet of Antero Reservoir water, evidenced by Antero Reservoir Certificate No. 1039 and 1 share of Warrior Ditch Company water representing 13 to 20 acre-feet of water, evidenced by Warrior Ditch Company Certificate No. 496. To secure payment of the indebtedness evidenced by the Promissory Note dated March 19, 1999, which is a part of the Loan Contract No. C153837 dated March 19, 1999 between the above named parties herewith, payable to the SEC RED PARTY the loan amount of $500,000 with interest at a rate of 4.75% per an ble in 20 annual installments or until all principal, interest, and late charges,� d in full, in accordance with said Promissory Note. � DEBTOR EXPRESSLY WARRANTS AND C E S.�j 1. That except for the security interest g he y, EBTOR IS or to the extent that this agreement states that the Co�u�TERa ' to be acquired after the date hereof, will be, except for any interests of the Denver Water Department, the owner of the Co��a,TERA� free from any adverse lien, security interest or encumbrances; and that DEBroR will defend the COLLATERAL against all claims and demands of all persons at anytime claiming the same or any interest therein. 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 DEeTOR 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, DEBroR shall be estopped from asserting for any reason that it is not authorized to grant a security interest in the Co��,aTERA� pursuant to the terms of this agreement. 5. To pay all taxes and assessments of every nature which may be levied or assessed clgaltlSt th@ COLLATERAL. 6. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the Co�vaTERa� and not to permit the same to be attached or replevined. 7. That the DEBTOR will not use the Co��aTERA� in violation of any applicable statutes, regulations, ordinances, articles of incorporation or by-laws.