Laserfiche WebLink
t <br />STATE OF COLORADO <br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT <br />COLORADO SECRETARY OF STATE <br />1560 Broadway, Suite 200 - Denver, CO 80202 -5169 <br />DEBTOR: UTE WATER CONSERVANCY DISTRICT and <br />UTE WATER ACTIVITY ENTERPRISE <br />P. O. Box 100 <br />Grand Junction, CO 81502 -0460 <br />FED TAX ID# e <br />SECURED PARTY: STATE OF COLORADO for the use and benefit of <br />The Department of Natural Resources, Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br />COLLATERAL <br />CLASSIFICATION: X CONTRACT RIGHTS X OTHER <br />DEBTOR, for consideration, hereby grants to SECURED PARTY a security interest in the following property and any and all additions, accessions <br />and substitutions thereto or therefor, hereinafter called the COLLATERAL: PLEDGE OF REVENUES AS DESCRIBED IN THE PLEDGE OF <br />REVENUES CLAUSES IN LOAN CONTRACT DESCRIBED BELOW. <br />To secure payment of the indebtedness evidenced by certsimampromissory Note Provisions of Loan Contract, dated <br />, 1995, between the above named pal i _ , lr 'th, payable to the SECURED PARTY, or order, as follows: <br />Loan amount of $7,537,500 at 5% interest per annum, payable i *46 stallmets of $490,325.19, or until all principal and interest <br />are paid in full. - <br />DEBTOR EXPRESSLY WARRANTS AND COVENANTS. <br />1. That except for the security interest granted here, TORJSk or o the extent that this agreement states that the COLLATERAL <br />is to be acquired after the date hereof, will be, the owner of th4 COLLATERAL free from any adverse lien, security interest or encumbrances; <br />and that DEBTOR will defend the COLLATERAL against all claims and demands of all persons at anytime claiming the same or any interest <br />therein. <br />2. The COLLATERAL is used or bought primarily for: <br />Personal, family or household purposes; <br />Use in farming operations; <br />_ Use in business; <br />X Other. <br />3. That DEBTOR's address is as stated above, and the COLLATERAL will be kept at the same address. <br />4. If any of the COLLATERAL is crops, oil, gas or minerals to be extracted or timber to be cut, or goods which are or are to become <br />fixtures, said COLLATERAL concerns the following described real estate situate in the County of Mesa and State of Colorado, to -wit: N/A <br />5. Promptly to notify SECURED PARTY of any changes in the location of the COLLATERAL. <br />6. To pay all taxes and assessments of every nature which may, be levied or assessed against the COLLATERAL. <br />7. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the COLLATERAL and not to permit the <br />same to be attached or replevined. <br />8. That the COLLATERAL is in good condition, and that the DEBTOR will, at its own expense, keep the same in good condition and from <br />time to time, forthwith, replace and repair all such parts of the collateral as may be broken, worn out, or damaged without allowing any lien <br />to be created upon the COLLATERAL on account of such replacement or repairs, and that the SECURED PARTY may examine and inspect the <br />COLLATERAL at any time, wherever located. <br />9. That the DEBTOR will not use the COLLATERAL in violation of any applicable statutes, regulations or ordinances. <br />APPENDIX D <br />