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<br />STATE OF COLORADO
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<br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT
<br />COLORADO SECRETARY OF STATE
<br />1560 Broadway, Suite 200 - Denver, CO 80202-5169
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<br />DEBTOR:
<br />
<br />CASTLE PINES NORTH METROPOLITAN DISTRICT &
<br />CASTLE PINES NORTH METROPOLITAN DISTRJCTWA TER ACTIVITY ENTERPRISE
<br />650 Castle Pines Drive Soutl1
<br />Castle Rock, CO 80104
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<br />DEBTOR'S FEDERAL TAX 10# 84-0952336
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<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 />1 31 3 Sherman Street; Room 721
<br />Denver, CO 80203
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<br />COLLA TERAl~
<br />CLASSIFICATION:
<br />
<br />_X_ CONTRACT RIGHTS
<br />
<br />X OTHER
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<br />DEBTOR, for consideration, here~y grants to SECURED p.~RTY a security interest in the following property and any and all additions, .ac~:eJsions
<br />and substitutions thereto or therefor, hereinafter called -the COLlATERAl-: .water funds derived from water user fees and infrasttiJtltuf"e fees
<br />trom future home construction. . (
<br />
<br />To secure payment of the indebtedness evidenced by certain Promissory Note Provisions of loan Contract, dated , 1995,
<br />between the above named parties ,herewith, payable ,to the SECURED PARTY, or order, as follows: the loan amount of $100,500 payable in
<br />one (1J ins(allment on the first day of the month, one YfJar after the month that the STATEdeclares that the PAOJECT has been substantially
<br />comp,lete'!, .8cc'J1ing interest at the rate of five percen.t_f5%J.per annum.
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<br />DEBTOR EXPRESSLY WARRAN'TS AND COVENANTS: .
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<br />1. . .T~at e~cept fo~~the security interest gr.anted .hereby,DEBTOR is, or to.the ext~n(that'this agreement ~tates that the COlLATERAL is to
<br />be acquired 'after' the date hereof, will be, the owner of the COLL.A.TERAL free from any adverse lien, security interest or encumbrances; and
<br />that DEBTOR will defend the COLLATERAL against all claims and demands of all persons at anytime c1~iming 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.
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<br />3. That DEBTOR'S address is 8S stated above, and the COLLATERAL Will be kept at Debtor's address.
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<br />4. If any ofthe COllATERAL is crops, oil, gas or minerals to be extracted or timber to be cut, or goods which are or ara to'become fixtures,
<br />said COLLATERAL concerns the following described real estate situate in the County of Douglas and State of Colorado, to-wit: N/A
<br />
<br />5~ Promptly to notify SECURED PAftTY of any changes in the location of the 'COLLATERAL
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<br />6. To pay all taxes and assessments of every nature which may be levied or assessed against the COLLAfERAl.
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<br />7. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the COLLATERAL and not to p~rrnit thfj same
<br />to be attached or replevined.
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<br />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
<br />to time,- forthwith, .replace and repair all such parts of the collateral as (i1ay be broken, worn out. or damaged without allowing any lien to
<br />be created upon the COLLATERAL on account of such replacement 0; repairs, and .that the. SECURED PARTY may examine and inspect the
<br />COLLATERAL at any time, wherever located.
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<br />9. That the DEBTOR will not use the COLLATERAL in violation of any applicable statutes, regulations ?r ordinances.
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<br />10. The DEBTOR will keep the COLLATERAL at all times jnsured against riskS of loss or damage by fire.(including so-called extended coverage),
<br />theft and such other casualties as the SECURED PARTY may reasonably require, including collision in the case of any motor vehicle, all in such
<br />amount.s, ':lnder such forms of poliCies, upon such terms, fo~.such periods, and ~rritten by such.companies or u,nderwriters as the SECURED
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<br />APPENDIXC
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