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<br />STATE OF COLORADO
<br />1 9
<br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT
<br />COLORADO SECRETARY OF STATE
<br />1560 Broadway, Suite 200 - Denver, CO 80202 -5169
<br />DEBTOR
<br />SECURED PARTY:
<br />COLLATERAL
<br />CLASSIFICATION:
<br />UTE WATER CONSERVANCY DISTRICT and
<br />LITE WATER ACTIVITY ENTERPRISE
<br />P. 0. Box 100
<br />Grand Junction, CO 81502 -0460
<br />FED TAX ID# r nom, -TART l n ^'=A+r-
<br />JC'•11.� i tr S 'a : i i!
<br />,^ y
<br />LrJ Ui,_ }1 L C 1
<br />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 />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' certain Promissory Note Provisions of Loan Contract, dated
<br />El n ( , 1995, between the above named parties herewith, payable to the SECURED PARTY, or order, as follows:
<br />Loan amount of $7,537,500 at 5% interest per annum, payable in 30 annu . stallments 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 hereby D f,BtoR is, et 0, x ent that this agreement states that the COLLATERAL
<br />is to be acquired after the date hereof, will be, the owner of the' LLA I�At f any adverse lien, security interest or encumbrances;
<br />and that'DEBTOR will defend the COLLATERAL against all claims andTderrlaii"'d's 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
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