C153726 Paid in Full Contract

• Contract/PO #: C153726
• Contractor Name: Tremont Mutual Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

STATE OF COLORADO
UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT
COLORADO SECRETARY OF STATE
1560 Broadway, Suite 200 - Denver, CO 80202-5169
DEBTOR: THE TREMONT MUTUAL DITCH COMPANY
P. O. Box 711
Snyder, CO 80750
p47%.„.FED TAX ID# 84-0974474
SECURED PARTY: STATE OF COLORADO f _ • • bene I e
De0,artmerii of Natural Re , C-` ater Conpervation Board
• 131".3 Sherman Street, Room 7 1
Denver, CO 80203
E
•
COLLATEitAL
.CLASSIFICA1ION: °- )Y CONTRACT RIGHTS _X_OTHER
DEBTOR,for considers on,hereby grants to SECURED PARTY a security interest in the following property and y and all additions,
accessions and s 'ons thereto or therefor, hereinafter-called the -COLLATERAL: ALL REVS DERIVED FROM
ASSESSMENTS ONS OCK TO-REPAY THE INDEBTEDNESS ON THE AMOUNT LOANED TO DEBTOR BY S CURED PARTY,AS
DESCRIBED IN PLEDGE OF REVENUES PROVISIONS IN CONTRACT SC153726.
To secure payment of the indebtedness evidenced by certain Promissory Note Provisions of Loan Contrat referenced above
between the above nauned parties herewith,payable to the SECURED PARTY,or order,as follows: $45,000 With interest at the rate
of 4%perr annum payable h,20 annual installments of$3,311.18,or untiat principal and Interest are Paid h foil.
DEBTOR EXPRESSLY WARRANTS AND COVENANTS:
1. -That excep4 for the security interest granted hereby DEBTOR is, or to the extent that this agr ent states that the
CDLLATERAL is to be accred after the date.hereof,will be,the owner of the COLLATERAL free from any adverse n,security interest
or encumbrances;andithat DEBTOR will defend the COLLATERAL against all claims and demands of all persons at anytime claiming
• the same or any interest therein.
2. The COLLATERAL is'used or bought primarily for:
_ Personal,family or household purposes; •
_ Use in(farming operations;
_ Use in 1:ousiness;
X Other.
3. That DEBTOR'S address is as stated above,and the COLLATERAL will be kept at SAME ADDRESS
4. If any of the Cou.ATERAL is crops,oil,gas or minerals to be extracted or timber to be cut,or good which are or are to
become fixtures,said CouATERAL concerns the following described real estate situate in the County of X an State of Colorado,
to-wit:N/A II�
5. Promptly to notify SECURED PARTY of any changes in the location of the COLLATERAL.
6. To pay all taxes and assessments of every nature which may be levied or assessed against the COLLATERAL.
7. To not permit or allow any adverse hen,security interest or encumbrance whatsoever upon the CukLATERAL and not to
permit the same to be attached or replevined.
8. That the CC ATERAL 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 Gen to be created upon the COLLATERAL on account of such replacement or repairs,and that the SECURED PARTY may
examine and inspect the COLLATERAL at any time,wherever located.
APPENDIX B- 1