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<br /> I 410 ,
<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: CITY OF FORT MORGAN, COLORADO &
<br /> CITY OF FORT MORGAN, COLORADO, WATERKS AND DISTRIBUTION ENTERPRISE
<br /> 710 Railroad, P. 0. Box 100 0)
<br /> Fort Morgan, Colorado 80701 iri) E
<br /> 01 962002987 C $16.00
<br /> DEBTOR'S FEDERAL TAX ID #84-6000588 SECRETARY OF STATE
<br /> SECURED PARTY: STATE OF COLORADO for the use and benefit of
<br /> 01-11-96 11:06
<br /> The Department of Natural Resources, Colorado Water Conservation Board
<br /> 1313 Sherman Street, Room 721
<br /> Denver, Colorado 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,
<br /> accessions and substitutions thereto or therefor, hereinafter called the COLLATERAL: Pledge of Debtor's contract rights under the
<br /> Allotment Contract between the City of Fort Morgan,Colorado, acting by and through the City of Fort Morgan,Colorado,Water Works
<br /> and Distribution Enterprise and Northern Colorado Water Conservancy District, acting by and through Southern Water Supply Project
<br /> Water Activity Enterprise, said contract dated August 4, 1995.
<br /> To secure payment of the indebtedness evidenced by certain Promissory Note contained in the above described loan contract between
<br /> the above named parties herewith, payable to the SECURED PARTY, or order, as follows: the loan amount of $5,500,000 payable as
<br /> described in the Promissory Note Provisions contained in Loan Contract#C153701 dated August 7, 1995.
<br /> DEBTOR EXPRESSLY WARRANTS AND COVENANTS:
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<br /> 1. That except for the security interest granted hereby DEBTOR is, or to the ext ',. a 'e:.; e + .tates that the COLLATERAL
<br /> is to be acquired after the date hereof, will be, the owner of the COLLAI,,RAL free from : n .:T e -14 lien, security interest or
<br /> encumbrances;and that DEBTOR will defend the COLLATERAL against all claimsgtn n of all persons at anytime claiming the same
<br /> or any interest therein. '
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<br /> 2. The COLLATERAL is used or bought primarily for: 1
<br /> Personal, family or household purposes;
<br /> Use in farming operations; .. ,,
<br /> _ Use in business;
<br /> X_ Other. �.` � }
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<br /> 3. That DEBTOR'S address is as stated above, and the COLLATERAL will be kept at the above ; Id S. d
<br /> 4. If any of the COLLATERAL is crops,oil, gas or minerals to be extracted or timber to be cut,ch,goods which ay or`a a to become
<br /> fixtures, said COLLATERAL concerns the following described real estate situate in the County of,MordSQ and Stator of Co)brado, to-wit:
<br /> N/A /
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<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
<br /> the 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
<br /> from time to time,forthwith, replace and repair all such parts of the collateral as may be broken,worn out, or damaged without allowing
<br /> any lien to be created upon the COLLATERAL on account of such replacement or repairs, and that the SECURED PARTY may examine and
<br /> inspect the 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 F
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