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PROJC00608
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PROJC00608
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Last modified
11/19/2009 11:09:13 AM
Creation date
10/6/2006 12:11:28 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153520
Contractor Name
North Poudre Irrigation Company
Contract Type
Loan
Water District
3
County
Larimer
Bill Number
SB 88-30
Loan Projects - Doc Type
Contract Documents
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<br />e <br /> <br />. - <br />'e <br /> <br />5. Promptly to notify Secured Party of any change in the location of the Collateral. <br /> <br />6. To pay all taxes and assessments of every nature which triay be levied or assessed against the <br />'Collateral. <br /> <br />7. Not to permit or allow any adverse lien, security interest or encumbrance whatsoever upon the Collat, <br />eral and not to permit the same to be attached or replevined. <br /> <br />8. That the Collateral is in good condiilon, and that he wiil. at his own expense. keep the same in good <br />condition and from time to time, forthwith, replace and repair all such parts of the Collateral as may be broken, <br />worn out. or damaged without allowing any lien to be created upon the Collateral on account of such replacement <br />or repairs, and that the Secured Party may examine and inspect the Collateral at any time, wherever located. <br /> <br />9. That he will not use the Collateral in violation of any applicable statutes, regulations or ordinances. <br /> <br />UNTIL DEFAULT Debtor may have possession of the Collateral and use it in any lawful manner. and upon <br />default Secllred Party shell have the immediate right tc the possession of the Collatero.l. . <br /> <br />Di::BTOR St'.ALL BE IN DEFAULT under this agreement upon the happening of any of the following events or <br />conditions: <br /> <br />(a) default in the payment or performance of any obligation. covenant or liability contained or referred to <br />herein or in any note evidencing the same; <br /> <br />(b) the making or furnishing of any warranty. representation or statement to Secured Party by or on behalf of <br />Debtor which proves to have been false in any material respect when made or furnished; <br /> <br />(c) loss. theft, damage, destruction, sale or encumbrance to or of any of the Collateral. or the making of any <br />. "c;:..,.::ttachment thereof or thereon; <br /> <br />{o} ..... :rth. dissolution. termination or existence. insolvency, business failure, appointment of a receiver of <br />any part of the property of. assignment for the benefit of creditors by, or the commencement of any proceeding <br />under any bankruptcy or insolvency laws of. by or against Debtor or any guarantor or surety for Debtor. <br /> <br />UPON SUCH DEFAULT and at any time thereafter, or if it deems itself insecure, Secured Party may declare <br />all Obligations secured hereby immediately due and payable and shall have the remedies of a secured party <br />under Article 9 of the Colorado Uniform Commercial Code. Secured Party may require Debtor to assemble the <br />Collateral and deliver or make it available to Secured Party at a place to be designated by Secured Party which is <br />:reasonably convenient to both parties. Expenses of retaking, holding, preparing for sale, selling or the like shall <br />include Secured Party's reasonable attorney's fees and legal expenses. <br /> <br />No waiver by Secured Party of any default shall operate as a waiver of any other default or of the same <br />default on a future occasion. The taking of this security agreement shall not waive or impair uny other security <br />E.- in Secured Farty may hmre or hereafter acq'J.ire ior the payment of the above indebtedness. nor shall ~he taking <br />(,;.' :my such additional security waive or impair this security agreement: but said Zecured Party may resort to any <br />security it may have in the order it may deem proper, and notwithstanding any collateral security, Secured Party <br />shall retain its rights of set-off against Debtor. <br /> <br />All rights of Secured Party hereunder shall inure to the benefit of its successors and assigns: and all <br />.;promises and duties of Debtor shall bind his heirs, executors or administrators or his or its successors or assigns. If <br />there be more than one Debtor, their liabilities hereunder shall be joint and several. <br /> <br />Date this <br /> <br />26th <br /> <br />day of <br /> <br />August <br /> <br />,19 88 <br /> <br />JDebtor: .TJ:lE--iO~TH POUDRE IRR~GATION COMPANY <br /> <br />Bv:. C:<.l",L1.-Z,.;r: &:z,,--k~ <br />Robert L. Stieben, President <br />P.O. Box 100, 3729 Cleveland Ave. <br />Welllngton, CU ~U~4~ <br />'''If tht. SeclUity AIP..=ent II lntendltd tONne as a financing stat.m.nt ~ party as ....n as tb.d.blor mwt.ign. <br /> <br />Secured Party:' COLORADO WATER CONSERVATION <br />BOARD <br /> <br />..t ' . <br />
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