My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
CT2017-3213 Contract
CWCB
>
Loan Projects
>
DayForward
>
6001-7000
>
CT2017-3213 Contract
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/17/2017 1:25:20 PM
Creation date
4/17/2017 1:25:07 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
CT2017-3213
Contractor Name
St. Vrain & Left Hand Water Conservancy District
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
28
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
SECURITY AGREEMENT <br /> DATE: FEBRUARY 13,2017 <br /> BORROWER: ST.VRAIN AND LEFT HAND WATER CONSERVANCY DISTRICT,A COLORADO <br /> TITLE 37 WATER CONSERVANCY DISTRICT,ACTING BY AND <br /> THROUGH ITS WATER ACTIVITY ENTERPRISE <br /> SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> PROMISSORYNOTE: $61g,13o.00 <br /> TERMS OF REPAYMENT: 2.85%INTEREST FOR 30 YEARS <br /> LOAN CONTRACT NUMBER: CT2017-3213 <br /> PLEDGED REVENUES: ALL REVENUES DERIVED FROM WATER ACTIVITY ENTERPRISE REVENUES AND ALL OF <br /> DEBTOR'S RIGHT TO RECEIVE SAID REVENUES TO REPAY THE LOAN AS DESCRIBED IN PLEDGED REVENUES PROVISIONS OF <br /> THE LOAN CONTRACT AND DEBTOR'S RESOLUTIONS ADOPTED FEBRUARY 13,2017. <br /> To secure payment of the loan evidenced by the PROMISSORY NOTE payable in accordance with the TERMS OF <br /> REPAYMENT, or until all principal, interest, and late charges, if any, is paid in full, the BORROWER grants to <br /> SECURED PARTY a security interest in the above described PLEDGED REVENUES. <br /> BORROWER EXPRESSLY WARRANTS AND COVENANTS: <br /> i. That except for the security interest granted hereby and any other security interests described in Section 5 of <br /> the LOAN CONTRACT,PROJECT SUMMARY,the BORROWER is the owner of the PLEDGED REVENUES free from any <br /> adverse lien, security interest or encumbrances;and that the BORROWER will defend the PLEDGED REVENUES <br /> against all claims and demands of all persons at any time claiming the same or any interest therein. <br /> 2. That the execution and delivery of this agreement by the BORROWER will not violate any law or agreement <br /> governing the BORROWER or to which the BORROWER is a party. <br /> 3. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the PLEDGED <br /> REVENUES and not to permit the same to be attached or replevined. <br /> q.. That by its acceptance of the loan money pursuant to the terms of the CONTRACT and by its representations <br /> herein, the BORROWER shall be estopped from asserting for any reason that it is not authorized to grant a <br /> security interest in the PLEDGED REVENUES pursuant to the terms of this agreement. <br /> 5. To pay all taxes and assessments of every nature that may be levied or assessed against the PLEDGED <br /> REVENUES. <br /> 6. That the BORROWER'S articles of incorporation and by-laws do not prohibit any term or condition of this <br /> agreement. <br /> UNTIL DEFAULT BORROWER may have possession of the PLEDGED REVENUES,provided that BORROWER <br /> keeps the PLEDGED REVENUES in an account separate from other revenues of BORROWER and does not use <br /> PLEDGED REVENUES for any purpose not permitted by the CONTRACT. Upon default,SECURED PARTY shall have the <br /> immediate right to the possession of the PLEDGED REVENUES. <br /> BORROWER SHALL BE IN DEFAULT under this agreement upon any of the following events <br /> or conditions: <br /> a. default in the payment or performance of any obligation contained herein or in the PROMISSORY NOTE <br /> or LOAN CONTRACT; <br /> b. dissolution,termination of existence,insolvency,business failure,appointment of a receiver of any part <br /> of the property of,assignment for the benefit of creditors by,or the commencement of any proceeding <br /> under any bankruptcy or insolvency law of,by or against the BORROWER;or <br /> c. the making or furnishing of any warranty, representation or statement to SECURED PARTY by or on <br /> Appendix 5 <br /> Page i Of 2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.