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STATE OF COLORADOirticED CO
<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 FO,1T MORGAN, COLORADO &
<br /> CITY OF FORT MORGAN, COLORADO, WATERWORKS AND DISTRIBUTION ENTERPRISE
<br /> 710 Railroad, P. 0. Box 100
<br /> Fort Morgan, Colorado 80701
<br /> DEBTOR'S FEDERAL TAX ID 962002986 �' � '
<br /> SECRETARY OF STATE
<br /> SECURED PARTY: STATE OF COLORADO for the use and benefit of 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: revenues pledged as described in Pledge of Revenues
<br /> Provisions in Loan Contract#C153701 dated August 7, 1995.
<br /> To secure payment of the indebtedness evidenced by certain Promissory Note contained in the t�e cri d L`= contract between
<br /> the above named parties herewith, payable to the SECURED PARTY, or order, as follows: the t y+,5'. ,000 payable as
<br /> described in the Promissory Note Provisions contained in above referenced loan con 414, 'f
<br /> DEBTOR EXPRESSLY WARRANTS AND COVENANTS: Ara,,
<br /> 1. That except for the security interest granted hereby DEBTOR is,or to the extent that this agfee st s I the COLLATERAL
<br /> is to be acquired after the date hereof, will be, the owner of the COLLATERAL free from any adverse ie' , r fif y interest or
<br /> encumbrances; and that DEBTOR will defend the COLLATERAL against all claims and demands of all persons at anytime claiming the same
<br /> or any interest 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. K.
<br /> "
<br /> 3. That DEBTOR'S address is as stated above, and the COLLATERAL will be kept at the move 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 Morgarf 'nd State of Colorado, to-wit:
<br /> 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
<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 G
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