C153719 Contract PIF - Laserfiche WebLink

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AMENDED SECURITY AGREEMENT DEBTOR: Town of Johnstown and Town of Johnstown Water Activity Enterprise P.O. Box 609 Johnstown, Colorado 80534 DEBTOR'S FEDERAL TAX ID # 84- 6000681 DEBTOR'S COUNTY: Weld (Code: 06) SECURED PARTY: State of Colorado - Colorado Water Conservation Board 1313 Sherman Street, Room 721 Denver, CO 80203 COLLATERAL CLASSIFICATION: CONTRACT RIGHTS (Code: 30) 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 COLLATERAL: Water system revenues pledged to repay the amount loaned to Debtor by Secured Party, as described in the Pledge of Revenue isions contained in Loan Contract No. C153719, as amended. To secure payment of the indebtedness evid , aid Loan Contract, and Promissory Note dated October 1, 1999, between the above named part_ payable to the SECURED PARTY, or order, the loan in the amount of $1,9 , , '`n t rate of four percent (4 %) per annum, payable in 30 annual installment ;alp it'pfa and interest are paid in full. This Security Agreement is amended to esta ish a final loan amount of $1,948,932.60 DEBTOR EXPRESSLY WARRANTS AND COVENANTS: 1. That except for the security interest granted hereby DEBTOR is, or to the extent that this agreement states that the COLLATERAL is to be acquired after the date hereof, will be, the owner of the COLLATERAL free from any adverse lien, security interest or encumbrances; and that DEBTOR will defend the COLLATERAL against all claims and demands of all persons at anytime claiming the same or any interest therein. 2. Promptly to notify SECURED PARTY of any changes in the location of the COLLATERAL. 3. To pay all taxes and assessments of every nature which may be levied or assessed against the COLLATERAL. 4. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the COLLATERAL and not to permit the same to be attached or replevined. 5. That the COLLATERAL is in good condition, and that the DEBTOR will, at its own expense, keep the same in good condition and from 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 to be created upon the COLLATERAL on account of such replacement or repairs, and that the SECURED PARTY may Exhibit B to Loan Contract C153719 Amendment No. 1