C153701 Contract - Laserfiche WebLink

Home Browse Search

c.. - f) :. / ';1: ---,' STATE OF COLORADO UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT COLORADO SECRETARY OF STATE 1560 Broadway. Suite 200 - Denver. CO B0202-5169 DEBTOR: CITY OF FORT MORGAN. COLORADO & CITY OF FORT MORGAN. COLORADO. WATER WORKS AND DISTRIBUTION ENTERPRISE 710 Railroad, P. O. Box 100 ;<<{. Fort Morgan. Colorado 80701 ;p CO? DEBTOR'S FEDERAL TAX 10 #B4-~~B SECURED PARTY: STATE OF COLORADO for the use and benefit of The Department of Natural Resources, Colorado Water Conservation Board 1 31 3 Sherman Street, Room 721 Denver. Colorado 80203 COLLATERAL CLASSIFICATION: 962002985 C $16.00 SECRETARY OF STATE 01-11-96 11:06 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: Pledge of proceeds of any sale of the Debtor's interest in the Allotment Contract between the City of Fort Morgan. Colorado. acting by and through the City of Fort Morgan, Colorado. Water Works and Distribution Enterprise and Northern Colorado Water Conservancy District. acting by and through Southern Water Supply Project Water Activity Enterprise. said contract dated August 4. '995. X CONTRACT RIGHTS X OTHER To secure payment of the indebtedness evidenced by certain Promissory Note contained in the above described loan contract between the above named parties herewith, payable to the SECURED PARTY, or order, as follows: the loan emount of $5,500,000 payable as described in the Promissory Note Provisions contained in Loan Contract #C153701 dated August 7.1995. DEBTOR EXPRESSLY WARRANTS AND COVENANTS; 1. That except for the security interest granted hereby DEBTOR is, or to the extent that this agreement states that the COLlATERAL is to be acquired after the date hereof, will be. the owner of the COLLATERAL free from any adverse lien. security interest or encumbrances; and that DEBTOR will defend the COLLATERAL against all claims and demands of all persons at anytime claiming the ~ame or any interest therein. .. - - > .~ 2. The COLLATERAL is used or bought primarily for: ," . (- _ Personal. family or household purposes; /.;. ~./.,,_..~ ~'-',.. Use in farming operations; (<5;;'1 \ = Use in buslOess. J .)~:$ :i~:::.ncut." \ ~) .; _X_ Other. I ",,\"""'vt;Jrli(;; j: :. 3, That DEBTOR'S address IS as stated above. and ~he COLLATERAL will be kept at th~O~/~' :/1 4. If any of the COllATERAL IS crops, oil, gas or minerals to be extracted or tImber to be C~fJ!20dS wh,;s:~e or are to become flxtures, saId COllATERAL concerns the following descnbed real estate situate 10 the County of Morgan""3'rm"S'tate of Colorado, to~wit. NIA 5. Promptly to notily SeCURED PARTY of any changes in the location of the COLLATERAL. 6. To pay all taxes and assessments of every nature which may be levied or assessed again.st the C9LLATERAL. 7. To not permit or allow any adverse lien, security interest or encumbrance whatso~'ver upon the CqllATERAl and not to permit the same to be attached or replevined. 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 to time, forthwith, replace and repair all such parts of the collateral as may be broken,' wo.rn out, or damaged without allowing any lien to be created upon the COLLATERAL on account of such replacement or repairs. and that the SECliRED pA'iuy may examine and inspect the COLLATERAL at any time.. wherever located. A DDJ:NnIY 1=