PROJ00493

• Contract/PO #: C153637
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 92-87
• Loan Projects - Doc Type: Contract Documents

STATE OF COLORADO
UNIFORM COMMERCIAL CODE —SECURITY AGREEMENT ' •
1
Debtor:
N.: The North Poudre Irrigation Company
,sedresc
aesiae.K<:
No. Street Of, Sure,
Bussnm:
P.O. Box 100 Wellington CO 80549
Nn. uten city suite
Secured Party: State of Colorado for the use and benefit of the
N.: Colorado Water Conservation Board ,
,,dd,esse 1313 Sherman Street, Rm. 721 Denver CO 80203
No. street City suite
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'):
i�
All revenues derived from assessments on stock to repay indebted—
ness on North Poudre Reservoir Nos. 5 a 6 as approved by the
stockholders or the Board of Directors, pursuant to CRS § 7-42-104,
as amended, as allocated to repay the indebtedness.
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
encumbrances; and that Debtor will defend the Collateral against all claims and demands of all persons 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;
❑ Use in business.
3. That Debtor's residence is as stated above, and the Collateral will be kept at
P.O. Box 100 Wellington Larimer CO 80549
No. aM Soon City Cam.State
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
Bradford Publishing, 1743 wn" St., Denver, CO 80202 — [phone] — 4-92 CwydaM tysr