C153726 Paid in Full Contract

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

7 1-
COP
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. 0. Box 711
Snyder, CO 80750
Nd 9 20'14669 c 616.00
FED TAX ID# 84-0974474 rCR TA r T
E
,. • 10-07-96 14:01
SECURED PARTY: STATE OF COLORADO for the use and benefit of the
Department of Natulel Resources, Colorado Water Conservation Board
1313 Sherman Street, Room 721
Denver, CO 80203
COLLATERAL
CLASSIFICATION: X CONTRACT RIGHTS X OTHER
DEBTOR,for consideration, hereby grants to SECURED PARTY a security interest in the following property and ahy and all additions,
accessions and substitutions thereto or therefor, hereinafter called the COLLATERAL: ALL REVEM/ S ,DERIVED FROM
ASSESSMENTS ON STOCK 70 REPAY THE INDEBTEDNESS ON THE AMOUNT LOANED TO DEBTOR B1'SECURED PARTY,AS
DESCRIBED IN PLEDGE OF REVENUES PROVISIONS IN CONTRACT#C153726.
To secure payment of the indebtedness evidenced by certain Promissory Note Provisions of Loan Contract referenced above
between the above named parties herewith,payable to the SECURED PARTY,or order,as follows: $45,0001 with interest at the rate
of 4%per annum payable in 20 annual installments of$3,311.18, or until all principal and interest are paid in full
DEBTOR EXPRESSLY WARRANTS AND COVENANTS:
1. That except for the security interest granted hereby DEBTOR is, or to the extent that this agreerlent 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 persOnsiat 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 business;
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 COLLAtERAL is crops,oil, gas or minerals to be extracted or timber to be cut,or gebod which are or are to
become fixtures,said COLLATERAL concerns the following described real estate situate in the County of)r ana State of Colorado,
to-wit:N/A
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 ciOLLATERAL.
7. To not permit or aNbw any adverse lien, security interest or encumbrance whatsoever upon the COLLATERAL and not to
permit the same to be attached or replevined. 1
8. That the COLLATERAL is in good condition,and that the DEBTOR will,at its own expense,keep they sane 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
examine and inspect the COLLATERAL,at any time,wherever located.
APPENDIX B- 1