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<br />STATE OF COLORADO <br /> <br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT <br />COLORADO SECRnARY OF STATE <br />1560 Broadway, Suite 200. Denver, CO 80202-5169- <br /> <br />DEBTOR: <br /> <br />CASTLE PINES NORTH METFlOPOLlT AN DISTRICT & <br />CASTLE PINES NORTH METROPOLITAN DISTRICTW A TER ACTIVITY ENTERPRISE <br />7404 Yorkshire Drive <br />Castle Rock, CO 80104 <br /> <br />DEBTOR'S FEDERAL TAX 10# 84-0952336 <br /> <br />SECURED PARTY: <br /> <br />STATE OF COLORADO for the use and benefit of <br />The Department of Natural Resources, Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />COLlATERAL <br />CLASSIFICATION: <br /> <br />X CONTRACT RIGHTS <br /> <br />X OTHER <br /> <br />DEBTOR, for consideration, hereby grants to SECURED PARTY 8 security interest in the following property and any and all additions, accessions <br />and substitutions thereto or therefor, hereinafter called the COLLATERAl: funds derived from water user service charges and infrastructure <br />fees from future home construction, as described in the Pledge of Revenues Provisions of Contract IC t 537 t t. <br /> <br />To secure payment of the indebtedness evidenced by certain Promissory Note Provisions between the above named parties herewith, payable <br />to the SECURED PARTY. or order. as follows: the loan amount of $301,500 payable in fiftBfln (15) installments in accordance with the <br />Promissory Note Provisions of the above described contract. <br /> <br />DEBTOR EXPRESSLY WARRANTS AND COVENANTS: <br /> <br />1. That except for the security interest granted hereby DEBTOR is, or to the extent that this agreement states that the COlLATERAL is to <br />be acquired after the date hereof, will be. the owner of the COlLATERAL free from any adverse lien, security interest or encumbrances; and <br />that DEBTOR will defend the COLlATERAL against all claims and demancls of all persons at anytime claiming the same or any interest therein. <br /> <br />2. The COLlATERAL is used or bought primarily for: <br />Personal, family or household purposes; <br />Use in farming operations; <br />Use in business; <br />_X_ Other. <br /> <br />3. That DEBTOR'S address is as stated above, and the COLlATERAL will be kept at Oebtor's_<address.. <br /> <br />4. If any of the COLLATERAl is crops, oil, gas or minerals to be extratted or timber to be cut, or goods which are or are to beco~e fixtures, <br />said COLLATERAL concerns the following gescribed real estate situate in the County of Douglas and State of Colorado, to. wit: N/A <br /> <br />5. Promptly to notify SECURED PARTY of any changes in the 10catiC)n of the COLlATERAL <br /> <br />6. To pay all taxes arid assessments of every nature which may be levied or assessed against the COllATERAl. <br /> <br />7. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the COLLATERAL and not to permit the same <br />to be attached or replevined. <br /> <br />8. That the COLLATERAL is in good condition, and that the DEBTOR will, at its own expense, kee,... the same in good condition and Trom time <br />to time, forthwith, replace and repair all such parts of the collateral as may be broken, won~ ~ut, o!' damaged without allowing any lien to <br />be created upon the COLlATERAL on account of such replacement Of' repairs, and that the SECURED PARTY mo?y examine a."ld inspect the <br />COLLATERAL at any time, wherever located. <br /> <br />APPENDIX D <br /> <br />..~ <br />