C153639L PIF

• Contract/PO #: C153639L
• Contractor Name: The New Cache La Poudre Irrigation Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

STATE OF COLORADO
UNIFORM COMMERCIAL CODE—SECURITY AGREEMENT
Debtor:
Name: The New Cache la Poudre Irrigating Company
Address:
Residence:
No. Street City State
Boni P.O. Box 109 Lucerne CO 80646
ness:
No. Street City state
Secured Party: State of Colorado
Name: for the use and benefit of the Colorado Water Conservation Board
Aare., 1313 Sherman St. , Room 721 Denver CO 80203
No. Street City State
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"):
All revenues derived from assessments on shares to repay indebtedness on its
diversion structure on the Poudre River as approved by the shareholders or the
Board of Directors pursuant to CRS §7-42-104.
To secure payment of the indebtedness evidenced by certain promissory note—of even date herewith,payable to the Secured Party,
or order,as follows:
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 I
encumbrances;and that Debtor will defend the Collateral against all claims and demands of all persons at anytime claiming the I
same or any interest therein.
i
4,124.......0I
2. The Collateral is used or bought primarily for:
Personal, family or household purposes: I
III Use in farming operations;
11 j
O Use in business.
X Other
3. That Debtor's residence is as stated above, and the Collateral will be kept at
P.O. Box 104 Lucerne Weld CO 80646 ��
No.and Street City County State 1
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 and State of Colorado, to wit:
No.UCC 1205.Rev.3-87. SECURITY AGREEMENT C '
EXHIBIT C
Bradford Publishing,1743 WaLcc St.,Dcuv.,t,CO 80202—[phone]—4-92 Copyright 1987