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<br />, <br />, <br /> <br />~,--. <br /> <br />. <br /> <br />STATE OF COLORADO <br /> <br />UNIFORM COMMERCIAL CODE - SECURITY AGREEMENT <br /> <br />Debtor: <br /> <br />NlIn'It: <br /> <br />TOWN OF RANGELY <br /> <br />Add~: <br />Resldflltt: <br /> <br />No. <br /> <br />Slrwt <br /> <br />elly <br /> <br />Sluff <br /> <br />BusltlK'l: <br /> <br />209 E. Main <br />No. <br /> <br />RANGELY <br /> <br />CO 81648 <br /> <br />Slr'ftl <br /> <br />Clly <br /> <br />Slnlf <br /> <br />Secured Party: State of Colorado for the use and benefit of the <br />N.~. Colorado Water Conservation Board <br /> <br />Md~. 1313 Sherman St., Room 721 <br />No. <br /> <br />Slrftl <br /> <br />Denver, CO 80203 <br />Clly <br /> <br />St"l.. <br /> <br />Debtor, for consideration, hereby grants to Secured Party a security interest in the following property and any and all additions, accessions and <br />substitutions thereto or therefor (hereinafter' called the "COLLATERAL"): <br /> <br />, . <br /> <br />All revenues pledged from water user charge~ b~' fees to repay indebtedness of the <br />Town of Rangely as approved by a resolution:of~the Town Board of Trustees pursuant <br />to C.R.S. '1 31-15-302 et seq, and 31-35-401 2'~' seq. <br /> <br />,.1" , <br /> <br />To secure payment of the indebtedness evidenced by a certain pro",!lS~Ory !lote _ of even dale herewith, payable to the Sectaed Partv. <br />orarder, as follows: As set forth in the contract bet,ween debtor and secured party tor t-he <br />emergency repair of the debtor's Raw Water II,take Structure whereby secured party <br />has loaned debtor the principal sum of $34,OQO ,g"cording to the terms set forth <br />in said contract, in9luding the terms of repaC;:l<1en't as set forth in the promiSsory <br />note portion of said contract. " " . <br />, <br /> <br />DEBTOR EXPRESSLY WARRANTS AND COVENANTS: <br /> <br />, , <br /> <br />I. 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 acquired after the date hereof, will be, the owner of the Collateral free from any adverse lien, security interest or <br />encumbrances; and that Debtor will defend the Collateral against all claims and demands of <\11 persons at anytime claiming the <br />same or any interest therein. <br /> <br />2. The Collateral is used or bought primarily for: . <br />D Personal, family or household purposes: <br />D Use in farming operations;, . <br />. D Use in business. <br />[Xl Other <br /> <br />3. That Debtor's residence is as stated above, ~nd the Collateral will be kept at <br /> <br />209 E. Main <br /> <br />Range1y <br /> <br />Rio Blanco <br /> <br />CO 81648 <br /> <br />No. andSlm:l <br /> <br />City <br /> <br />County <br /> <br />SlalC <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 <br />of and State of Colorado, to wit: <br /> <br />No. UCC 1205. Rev. 3,87. SECURITY AGREEMENT EXHIBIT D <br />Bradford Publishing, 174] Wazee St., Den-m-, CO 80202 - (]O]) 292.2500 - 5-9] <br /> <br />e <br /> <br />Copy'ri2h119117 <br />