My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
C150044 Contract
CWCB
>
Loan Projects
>
Backfile
>
2001-3000
>
C150044 Contract
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/1/2013 11:13:10 AM
Creation date
10/6/2006 12:05:33 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150044
Contractor Name
Riverside Reservoir and Land Company
Contract Type
Loan
Water District
1
County
Morgan
Bill Number
HB 00-1419
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
36
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />SECURITY AGREEMENT <br /> <br />DEBTOR: Riverside Reservoir and Land Company <br />215 E. Kiowa <br />Fort Morgan, CO 80701 <br /> <br />FEDERAL TAX NUMBER: 84-0304480 <br /> <br />COUNTY: MORGAN (CODE: 45) <br /> <br />SECURED PARTY: State of Colorado - Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />COLLATERAL: Contract Rights (Code: 030) <br /> <br />DEBTOR, for consideration, hereby grants to SECURED PARTY a security interest in the following <br />property and any and all additions, accessions and substitutions thereto or therefor, hereinafter <br />called the COLLATERAL: All revenues derived from assessments on stock and all of DEBTOR'S right to <br />receive said assessment revenues to repay the indebtedness on the amount loaned to debtor by <br />secured party, as described in Pledge of Property provisions in Contract No. C150044 (CONTRACT). <br /> <br />To secure payment of the indebtedness evidenced by the Promissory Note between the above named <br />parties herewith, payable to the SECURED PARTY, the loan amount of $405,000 at an interest rate of 4% <br />per annum for a period of 30 years in accordance with said Promissory Note or until all principal and <br />interest are paid in full. <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 <br />states that the COLLATERAL is to be acquired after the date hereof, will be, the owner of the <br />COLLATERAL free from any adverse lien, security interest or encumbrances; and that DEBTOR will <br />defend the COLLATERAL against all claims and demands of all persons at anytime claiming the same <br />or any interest therein. <br /> <br />2. That the execution and delivery of this agreement by DEBTOR will not violate any law or agreement <br />governing DEBTOR or to which DEBTOR is a party. <br /> <br />3. That, if DEBTOR is a corporation, its certificate and articles of incorporation and by-laws do not <br />prohibit any term or condition of this agreement. <br /> <br />4. That by its acceptance of the loan money pursuant to the terms of the CONTRACT and by its <br />representations herein, DEBTOR shall be estopped from asserting for any reason that it is not <br />authorized to grant a security interest in the COLLATERAL pursuant to the terms of this agreement. <br /> <br />5. To pay all taxes and assessments of every nature which may be levied or assessed against the <br />COLLATERAL. <br /> <br />6. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the <br />COLLATERAL and not to permit the same to be attached or replevined. <br /> <br />7. That the DEBTOR will not use the COLLATERAL in violation of any applicable statutes, regulations, <br />ordinances, articles of incorporation or by-laws. <br /> <br />UNTIL DEFAULT DEBTOR may have possession of the COLLATERAL, provided that DEBTOR <br />keeps the COLLATERAL in an account separate from other revenues of DEBTOR and does not use the <br />COLLATERAL for any purpose not permitted by the CONTRACT. Upon default, SECURED PARTY shall have <br />the immediate right to the possession of the COLLATERAL. <br /> <br />Appendix 5 to Loan Contract C150044 <br />
The URL can be used to link to this page
Your browser does not support the video tag.