PROJC00983

• Contract/PO #: C153663
• Contractor Name: Hudson, Town of & Hudson Water Fund Entrprise
• Contract Type: Loan
• Water District: 1
• County: Weld
• Bill Number: SB 78-69
• Loan Projects - Doc Type: Contract Documents

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_________ _._~____.._____n___._. __.
___,~___'____.on ___..._____________. ..--.- ..

STATE OF <COLORADO

UNIFORM COMMERCIAL CODE - SECURITY AGREEME'iT

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Town of Hudson and the Hudson Water Fund Enterprise

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P.O. Box 351

CO

80642

Hudson
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Secured Party: State of Colorado for the tlse
~llll><': Colorado Water Conservation Board

and benefit of the

Oenver, CO 80201
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1313 Sherman St.. Room 721
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Add...-ss:

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Debtor. for consideration, hereby grants \0 Secured Party a security inH:resl in lh~' follo\\'in~ property ;lnd any :lnd all :ldditiollS. ,u:ct:s...ions and
substitutions thereto or therefor (hereinafter called the "COLLATERAL").

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All revenues pledged from water user chqrges or fees and the borrower's interest
in the Allotment Contract to repay indehtedness of the Town of Htldson and
the Hudson Water Fund Enterprise as appI:oved by a resolution of the Town BoaJ;;lliC
of Trustees pursuant to H 37-45.1-101 et seo . C.R.S. ). jZl-\ I/\!A
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31-15-302 ~tseq, and 31-35-401 et seq. :R) : (J?lf

To secure paymenl oft~e indeblcdncssevidenced by tlH' ~ertain promi~~(1r:. ~OlC _ .11" [ c, J...~ L ~ ;11.. f"l;lyal:1k 10 lho.: Secured rarJ1Y: :. .
_as_ 1S more fully set forth 1n the project contract among the KIA
Town of Hudson, the Hudson Water Fund Enterprise, and the State of Colorado k~
for the use and benefit of the Department of Natural Resources <Colorado ~(
Water Conservation Board). '.

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DEBTOR EXPRESSLY WARRANTS AND COVENA:"l'S:

1. Thai except for the security interest granted hereby Dehwr is, 0[" h' Il1l' l'\icJ)t thaI Ihis ;1~I"l'Lllll'nt SlalL~ tl1:11 thl'
Collateral is to be aCLluired after the dale hereof. will be. the O\\.l1cr of the CollJ.ILT~11 free (n 1m any ad\.crsc li..-.n, ~ccllri\y interest or
enCUll1br~lll('e~: and rklt Dehlor \\'ill dej~nd the Collateral agail1sl ;1l1 cl:1I11l'- ;l1hllknulll!'- ,)( ;111 r......'I"'llll\ ,11 :\Il:,till\l' ,.\;I111l1t1~ till'
same or any intercq therein.

2. TIle eollalcral is used or bought primarily for:
o Personal. family or household purposes:
o Use in farming operations;
o ' Use in business.
x Other
_'. TI13\ Debtor's residence is as stated above. and the Cllllalcr;1! \\.ill Ix kept ~\l

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P. Q. Box 351

Hudson

Weld

Colorado 80642

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-L If any of the Collateral is crops. oil. g,L";. or mincrab tn h.' L-'\tr;ll.lnl (11" 1I1llhcr h) be l.1I1. or =.:' 10 Id... \\'hi~.h ~ln.: or ~lre III
become fixtures. ~aid Collateral conc~rns the following dc~crihL-'d 1\.::11 l'"t~IIC :-.ilu;\tc in Ilk' _______ C(lunt~
of and State of Colorado. to \~.it:

APPENDIX H