C153351 Paid in Full Documents

• Contract/PO #: C153351
• Contractor Name: Town of Breckenridge
• 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: Town of Breckenridge
P. O. Box 168
150 Ski Hill Road
Breckenridge, CO 80424 -; -- - ^- -
FEDERAL TAX ID# t1`I?1 's ;:ir a
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SECURED PARTY: STATE OF COLORADO for the use and benefit of
Department of Natural 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 any and all additions,
accessions and substitutions thereto or therefor, hereinafter called the COLLATERAL: Revenues pledged from the DEBTOR'S water
system enterprise fund.
To secure payment of the indebtedness evidenced by certain Loan Contract #C153351 (dated July 15, 1981), as amended, and
subsequently assigned by Blue River Water District to the DEBTOR by Amendment#2 to the contract(dated January 1996)between
the above named parties herewith,payable to the SECURED PARTY,or order,as follows: A loan in the original amount of$1,200,000
at 4% interest for the original term of 40 years, and an annual payment of $60,624.
DEBTOR EXPRESSLY WARRANTS AND COVENANTS:
1. That except for the security interest granted hereby DEBTOR is, or to the extent that this agreement 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 '�.` .-n of p o 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; -!
_X Use in business;
• X Other. r�0
3. That DEBTOR'S address is as stated above, and the COLLATERAL will be kept at the above address.
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 fixtures,said COLLATERAL concerns the following described real estate situate in the County of N/A and 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 COLLATERAL.
7. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the COLLATERAL and not to
permit the same to be attached or replevined.
8. That the COLLATERAL 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 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.
ATTACHMENT 4