C153701 Contract

• Contract/PO #: C153701
• Contractor Name: Fort Morgan, City of & Fort Morgan Water Works and Distribution Enterprise
• Contract Type: Loan
• Water District: 1
• County: Weld
• Bill Number: SB94-029
• Loan Projects - Doc Type: Contract Documents

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STATE OF COLORADOVIL'EDCO

UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FINANCING STATEMENT
COLORADO SECRETARY OF STATE
1560 Broadway, Suite 200 - Denver, CO 80202-5169

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DEBTOR:

CITY OF FOJlT MORGAN, COLORADO &
CITY OF FORT MORGAN, COLORADO, WATERWORKS AND DISTRIBUTION ENTERPRISE
710 Railroad, P. O. Box 100
Fort Morgan, Colorado 80701

SECURED PARTY:

962002986 C $16.00
SECRETARY OF STATE
STATE OF COLORADO for the use and benefit of 01-11-96 11:06
The Department of Natural Resources, Colorado Water Conservation Board
1 31 3 Sherman Street, Room 721
Denver, Colorado 80203

DEBTOR'S FEDERAL TAX ID #84-600058B

COLLATERAL
CLASSIFICATION:

X CONTRACT RIGHTS

X OTHER

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: revenues pledged 8S described in Pledge of Revenues
Provisions in loan Contract #C153701 dated August 7,1995.

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 amount of $5.500.000 payable as
described in the Promissory Note Provisions contained in above referenced loan contract.

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;
X Other.

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That DEBTOR'S address is as stated above, and the COLLATERAL will be kept a~ the 'agove address:-;' i
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4. If any of the COLLATERAL is crops, oil, gas or minerals to be extracted or timber to be....cut. or good~,wtlich are or are to become
fixtures, said COLLATERAL concerns the following described real estate situate in the County of'Morgarf'and State of Colorado, to.wit:
N/A

5. Promptly to notify 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 against the COLLATERAL.

7. To not permit or allow any adverse lien,' security interest or encumbrance whatsoever upon the COLLATERAL 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, worn out. or damaged without allowing
any lien to be created upon the COLLATERAL on account of such replacement or repairs. and that the SECURED PARTY may examine and
inspect the COLLATERAL at any time, wherever located. .

9. That the DEBTOR will not use the COLLATERAL in violation of any applicable statutes. regulations or ordinances.