Laserfiche WebLink
DEBTOR: <br />FEDERAL ID NO: <br />SECURED PARTY: <br />COLLATERAL: <br />COUNTY: <br />AMENDED SECURITY AGREEMENT <br />The ToWn of Morrison <br />P.O. Bo� 95 <br />Morriso , Colorado 80465 <br />1,01:1 <br />State of Colorado - Colorado Water Conservation Board <br />1313 Sh rman Street, Room 721 <br />Denver, CO 80203 <br />Contract Rights (Code: 030) <br />Jefferso (Code: 11) <br />DEBTOR, for consideration, hereby grants to SECURED PARTY a security interest in the following property and <br />any and all additions, accessions arid substitutions thereto or therefor, hereinafter called the COLLATERAL: <br />Revenues pledged to repay the amount loaned to Debtor by Secured Party, as described in the Pledge of <br />Revenues Provisions contained in Loan Contract No. C153773, as amended (CONTRACT). <br />To secure payment of the indebtedn ss evidenced by certain Promissory Note which is a part of CONTRACT h <br />between the above named parties rewith, payable to the SECURED PARTY the loan amount of $334,053.87 <br />with interest at a rate of 5% per ann m, payable in 30 annual installments or until all principal and interest <br />are paid in full, in accordance with said Promissory Note. The parties agree to amend this security <br />agreement to establish the loan a ount of $334,053.87. <br />DEBTOR EXPRESSLY WARRAN <br />1 . That except for the security int <br />states that the COLLATERAL is to <br />free from any adverse lien, s <br />COLLATERAL against all claims a <br />therein. <br />AND COVENANTS: <br />�est granted hereby DEBT i e extent that this agreement <br />e acquired after the date reof, will aeVR of the COLLATERAL <br />:urity interest or encum r c will defend the <br />i demands of all perscs ny me or any interest <br />2 . That the execution and delivery of this agreement by DEBTOR will not violate any law or agreement <br />governing DEBTOR or to which DEBTOR is a party. <br />3 . That, if DEBTOR is a corporation, its certificate and articles of incorporation and by -laws do not prohibit <br />any term or condition of this agre ment. <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 authorized <br />to grant a security interest in the C OLLATERAL pursuant to the terms of this agreement. <br />5 . To pay all taxes and assessm,nts of every nature which may be levied or assessed against the <br />COLLATERAL. <br />6. To not permit or allow any ad erse lien, security interest or encumbrance whatsoever upon the <br />COLLATERAL and not to permit the same to be attached or replevined. <br />7 . That the DEBTOR will not use he COLLATERAL in violation of any applicable statutes, regulations, <br />ordinances, articles of incorporate n or by -laws. <br />UNTIL DEFAULT DEBTOR may have possession of the COLLATERAL, provided that DEBTOR keeps <br />Exhibit B to Loan Contract C153773 Amendment No. 1 <br />