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Debtor: <br />Name: <br />• <br />S'lAfl: OF C01.0RAD0 <br />• <br />UNIFORM CO)NINIF :RCIAL C'0DE — SECI RITZ' AGREEMLNT <br />Coon Creek Reservoir and Ditch Comapn <br />\ddms: <br />t♦�IdCM'C: 11Rr1 IIIt \Wle <br />\II. <br />Box 145 Mesa, CO 81643 <br />ttuitr. s: N~ Ot, Stale <br />,. <br />Secured Party: State of Colorado for the use and benefit of the <br />?fume: <br />Colorado a er Conservation Board <br />1313 Sherman St., Rm. 721, Denver, CO 80203 <br />Addrt++: \o. Sorel Cif. state <br />I i Debtor. for consideration, hereby grants to Secured Party a security interest in the following property and any and all additions, accessions an <br />substitutions thereto or therefor (hereinafter called the "COLLATERAL "): <br />All revenues derived from assessment on shares to repay <br />indebtedness on Coon Creek No. 1 and No.2, approved b the share- <br />holders or the Board of Directors pursuant to C.R.S. 7 -42 -104, <br />as amended. <br />To secure payment of the indebtedness evidenced by certain promissory note _ of even date herewith, payable to the Secured Parry, <br />or order, as follows: <br />DEBTOR EXPRESSLY WARRANTS AND COVENANTS: <br />1. That except for the security interest granted hereby Debtor is, or to the extent that this agreement states that the <br />Collateral is to be acquired after the date hereof, will be, the owner of the Collateral free from any adverse lien, security interest or <br />encumbrances, and that Debtor will defend the Collateral asainst all claims and demands of all persons at anytime claiming the <br />same or any interest therein. <br />2. "lire Collateral is used or bought primarily for: <br />❑ Personal, family or household purposes: <br />❑ Use in farming operations; <br />❑ Use in business. <br />3. That Debtor's residence is as stated above, and the Collateral will be kept at the offices of the <br />Coon Creek Reservoir and Ditch Company, Mesa, CO 81643 <br />No. and Street City County <br />4, if any of the Collateral is crops, oil, gas, or minerals to be extracted or timber to bt <br />become fixtures, said Collateral concerns the following described real estate situate <br />of and State of Colorado, to wit: <br />EXHIBIT D -1 <br />No. UCC L'05. Rev. 3 -87. SECURITY AGREEMENT <br />Bradlord Publishing. 1743 Wazee St.. Denver, CO 80202 =001; '92 -25011 I -go <br />\- "1�age 1 of 2 <br />Cupa ight 1987 <br />