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<br />c- J5~77/) <br /> <br />f, <br />~-Xi, <br />('.q:; "i)o <br />. ~d <br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT & FI~>C!t'lG STATEMENT <br />COLORADO SECRETARY OF STA~~V <br />1560 Broadway, Suite 20Q - Denver, CO ~2-5169 ' <br /> <br />SOUTH PLATTE DITCH COMPANY <br />Route 1, Box 106 <br />Merino, CO 80741 <br /> <br />STATE OF COLORADO <br /> <br />DEBTOR: <br /> <br />SECURED PARTY: <br /> <br />FED TAX 10# 84-0425471 962043210 C $16.00 <br />c~0R~T~nv nc, ~_-:.T,A,T,~_ <br />.........'-< .......inf'i.! v . ., <br />STATE OF COLORADO for the use and benefitllit-Bfe-96 i 1: 45 <br />Department of Natural Resources, Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />COLLATERAL <br />CLASSIFICATION: <br /> <br />X CONTRACT RIGHTS <br /> <br />X OTHER <br /> <br />DEBTOR, for consideration, hereby grants to SecuRED PARTY a S~curitv interest in the following property and any and all additions. <br />accessions and substitutions thereto Of therefor, hereinafter called the COLLATERAL: ALL REVENUES DERIVED FROM <br />ASSESSMENTS ON STOCK TO REPA Y THE INDEBTEDNESS ON THE AMOUNT LOANED TO DEBTOR BY SECURED PARTY. AS <br />UESCRIBED IN PLEDGE OF REVENUES PROVISIONS IN CONTRACT #CI53717. <br /> <br />To secure payment of the indebtedness evidenced by certain Promissory Note Provisions of Loan Contract referenced above <br />between the above named parties herewith, payable to the SEClJREO PARTY, or order, as follows: $100.000 with interest at the rate <br />of 434 % per annum payable in 30 annu.al installments of $5,959.82. or unt/7 all principal and interesT are paid in full. <br /> <br />DEBTOR EXPRESSLY WARRANTS AND COVENANTS: <br /> <br />, . That except for the security interest granted hereby DEBTOR is, or to the extent that this agreement states that the <br />COLLATERAL is to be acqllired after the date hereof, will be, the OWner of the COLlATERAL free from any adverse lien, security interest <br />or encumbrances; and that DES!O~ will defend the COLLATERAL against all claims and demands of all persons at anytime claiming <br />the same or any interest therein. <br /> <br />2. The COLLATEAAL is used or bought primarily for: <br />_ Personal, family or household purposes; <br />_ Use in farming operations; <br />Use in business; <br />_X_ Other. <br /> <br />3. That DEBTOR's address is as stated above, and the COLLATERAL will be kept at SAME ADDRESS <br /> <br />4. If any of the COLLATERAl is crops, oil, gas or minerals to be extracted or timber to be cut, or goods 'which are or are to <br />become fixtures, said COLLATERAL concerns the following described real estate situate in the County of NIA and State of Colorado, <br />to-wit: NIA <br /> <br />5. Promptly to notify SECURED PARTY of any changes in the location of the COLLATERAL. <br /> <br />6. To pay all taxes and assessments of every nature Which may be levied or assessed against the COLLATERAL. <br /> <br />7. To not permit or allow any adverse lien, security interest or encumbrance whatsoever upon the COLLATERAL and not to <br />permit the same to be attached or replevined. <br /> <br />8. That the COLLATERAL is in good condition, and that the DEBTOR will, at its own expense, keep the same in good condition <br />and from time to time, forthwith. replace and repair all such parts of the collate~al as may be broken, Worn out, or damaged without <br /> <br />APPENDIX B <br />