PERMFILE46278 - Laserfiche WebLink

Home Browse Search

PLEDGE AGREEMENT 'fhe undersigned hereby transfers, pledges and delivers to Rnlph Nix Produce, Inc., a Colorado Corporation (Payee of Promissory No[e dated Oe~ o b,- r aJ , 2001, in the principal sttm of $1, 932,aso,+r), the following property as collateral security for the payment of the Promissory Note: Last Chance Ditch Company Certificate No. One (1) share of the capital stock held in the name of Owens Brothers Concrete Company, a Colorado Corporation And the undersigned hereby give the payee, or the holder hereof, authority to sell, assign and deliver said certificates, or any part thereof, or any substitutes therefor, and all additions thereto, on the maturity of this Note, or any time thereafter, at public or private sale without advertisinb the same, or demanding payment or giving notice to the undersigned, and, at such sale or sales, the payee or any holder hereof may become the purchaser, free from any right of redemption when public sale is made or when sale is made at any brolter's board. And after deducting all costs and expenses, including reasonable attorney's fees, from the proceeds of any such sale, the residue shall'be applied to the payment of the principal and interest due on this Note, returning the overplus to the undersigned; and incase the proceeds of such sale or sales shall not cover the principal sum, interest and expenses, the undersigned engages to pay the deficiency forthwith after such sale or sales with legal interest. So long as the undersigned is not in default in the payment of any sums due under this promissory note, the undersigned shall have the right to vote all certificates of stock pledged to the payee hereunder. Signed effective as of (Je-~'o bn v a S , 2001. OWENS BROTHERS CONCRETE COMPANY, A Color1ad1o1 CorpoQra"fi~on By~ 1' 11. ~ I l ~~- ty.~ 'T ,.. v (Title) ~~L M'\nUiYS\WIII\UUlayU112111rv