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<br />Form UCC 120S-Bradford Publishing Co., 1824-4G Swut ,Street, Denver, Colorado
<br />442417
<br />
<br />BDDK0632 rl.c~ 286
<br />
<br />RECEIVED
<br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT
<br />
<br />STATE OF COLORADO
<br />
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<br />2~~' I 2 '.s::
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<br />~!;'~er.
<br />
<br />Addres!::
<br />Re!:idence
<br />
<br />No.
<br />
<br />Street
<br />
<br />NOV r'2 '88r_.. -, .. ..... WI
<br />..-..,-....." -,_.' ,/,l ,..1\ tel.)
<br />COWRAuv WATER' ':".,:, ,:.", : :.,'
<br />CO~~~TlON ,;,;:,' "~~
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<br />Debtor:
<br />
<br />Name:
<br />
<br />OVERLAND DITCH AND RESERVOIR COMPAh~
<br />
<br />City
<br />
<br />Slale
<br />
<br />Business
<br />
<br />1321 2900 Road, Hotchkiss, Colorado
<br />No, Street
<br />
<br />81419
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<br />City
<br />
<br />State
<br />
<br />Secured Party:
<br />Nam"STATE OF COLORADO. for the use and benefit of The Colorado Water Conservation
<br />Board
<br />
<br />City
<br />
<br />SECRETARY OF STATE OF COLORADO
<br />11-01-88 ~j: 32
<br />882086314 $6.00
<br />
<br />Address;
<br />
<br />1313 She~an Street. Denver, Colorado
<br />No, Street
<br />
<br />80203
<br />
<br />STIITE Of COLORADO, COUI-lTY OF DaT~ AUG 14'1989
<br />RECOROED "l ~O'Cl.OCl<L=JA , - .
<br />RECEPTION~JOSEPHN: M, GORE, ~CORlEf,
<br />
<br />Dehier. for consideration, hereby grants io Secured Party a securit)' interest in th& JolJowinq prop!:rty and any and all addition:;, accessions and substitutions
<br />thereto or therefor (hereinaher called the "COLLATERAL"):
<br />All revenues derived from assessments on stock to repay indebtedness on Overland
<br />Reservoir as approved by the stockholders, or the Board of Directors, pursuant to
<br />C.R.S. 97-42-104.
<br />
<br />To secure payment of the indebtedness evidenced by
<br />Jollowa:
<br />
<br />loan repurchase contract of even date herewith
<br />"'ertain/JX~~XKrX:iK~ payable to the Secured Pcrrty, or order, as
<br />
<br />THIS IS NOT AN ORIGiNAl: COPY
<br />''.RECOR~iC _~S . SUBMITTED
<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 l'rDs agreement st:J:tes l~at
<br />Ll,.e Collaterd is to be acquired dter be date hereof, will be, the owner ci the Coll:rtercrl free frem any ad-verse lien,
<br />se:u.rity interest or encur:ilirances; and that Debtor will defend the Collateral aqc:ir..sf all clai:ns and ae:nc:ncis of all
<br />persens at anytime claimin'g the same or any interest L~erein.
<br />
<br />2. T:-;e Colb:teral is used or bought primarily for:
<br />o Personal, ia:nily or household purposes;
<br />o Use in farming c;:oerations;
<br />~ Use in business.
<br />
<br />3. That Debtor's resicience is as stated above, anc t:.e Collater::::l will be ke;:t at offices of
<br />
<br />Overland Ditch and
<br />1321 2900 Road
<br />
<br />No. cnc Str~e:
<br />
<br />Reservoir Company
<br />Hotchkiss
<br />City
<br />
<br />Delta
<br />
<br />Cclorado
<br />
<br />81419
<br />
<br />COU::ly
<br />
<br />S:cle
<br />
<br />4.. If any of the Collateral is creps, cil, gas, or minerc:ls to be extracted or ti::2Der to be cut, or goods which are or
<br />cre to become iixtures, said Collatercrl conC€r:1S the iollcwh1g described real estcte situate in the N / A
<br />
<br />County oi
<br />
<br />CL'1d State of Colorado, to wit:
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