PROJ00064

• Contract/PO #: C153567
• Contractor Name: Grand Junction, City of
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Bill Number: SB 89-85
• Loan Projects - Doc Type: Contract Documents

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Oehlor:

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City of Grand Junction

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250 N 5th Street

Grand Junction, CO 81501-2668

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Secured Partv:
,_, state of Colorado for the use and benefit of
Conservation Board
1313 Shennan Street, Rocrn 721
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the Colorado Water

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Denver, CO 80203

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Debtor. for consideration, hereby grams to Secured Poln)' a securiry interest in the following properly and any and 1111 additions, liCces!l.ions and
subSlilUlions thereto or therefor (hereinafter caJled the "COLLATERAL"):

All revenues derived from water rates as agreed to be set by
the City Council in ordinance NO. 2438 in order to repay
indebtedness on the North Fork Diversion Pipeline.

To ~cure payment of the indebtedness evidenced by
or order. as follows:

certain promissory nOle _ of even date herewith. paY<lble to the Secured Pany,

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DEBTOR EXPRESSLY WARRANTS AND COVENANTS:

1. That except for the security interest granted hereby Debtor is. or to the extent [hat [his agreement states that the
Collaleral is to be acquired after the date hereof. will be. the owner of the Collateral free from any "dverse lien, security interest or
encumbrances; and that Debtor will defend the Collateral against all claims and demands of "II persons "t "nytime c1ainung the
same or any interest therein.

2. The Collateral is used or bought primarily for:
D f\::rsonal, family or household purposes:
D Use in fanning operations:
00 . Use in business.

3. That Debtor's residence is as stated above, and the Collateral will be kept at the of f ice s of the

City of Grand Junction, 250 N 5th Street, Grand Junction, ~O I

No andSltm ell) (UURl\ 5;1501-266

4. If any afthe Collateral is crops. oil. gas. or mmerals to be extracted or umber to be cut. or goodr4' (Rich are or are to 1
become fixtures. said Collateral concerns the followmg descnbed real estate situate 10 the County
of and State of Colorado, to wit: !
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No. UCC 1205. Rev. 3.87. SECURITY AGREEMENT

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8udlord Publi\hHI~. 1143 W.Illl:C 51.. Denver, CO 110:202 _'(]03129:!.;2500 - 1-119

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