Notice of Lender’s Interest in Water Rights and Permit
Notice of confidentiality rights: If you are a natural person, you may remove or strike any or all of the following information from any instrument that transfers an interest in real property before it is filed for record in the public records: your Social Security number or your driver’s license number.
Date:
Borrower:
Borrower’s Mailing Address:
Lender:
Lender’s Mailing Address and Contact Information:
Loan officer:
Phone:
E-mail:
Date of Loan:
Loan No.:
[Real Property:]
Water Rights, including any Permit[s] now existing or hereafter issued:
All persons dealing with the Water Rights or the Permit[s] issued in connection with the Water Rights are hereby notified of Lender’s interest in the Water Rights and Permit[s].
Lender has made a loan to Borrower secured by a lien and a security interest in Borrower’s Water Rights and Permit[s]. Under the terms of the loan documents—
1.If Borrower defaults on the loan, Lender has the right to foreclose on its security interest in the Water Rights and to sell or acquire the Water Rights.
2.Lender’s prior written consent is required for a sale or conveyance of any interest in the Water Rights and assignment of all or any portion of the Permit[s].
3.Lender’s prior written consent is required for the issuance of [a] Permit[s] for the Water Rights and Lender must sign the application for issuance of [a] Permit[s].
4.Lender’s prior written consent is required for a modification of the Water Rights or the Permit[s] and Lender must sign the application for modification of the Water Rights or the Permit[s].
If a Release of Lender’s security interest in the Water Rights and Permit[s] does not appear in these records, then any person dealing with the Water Rights or the Permit[s] should assume that Lender still has a lien and security interest in the Water Rights and the Permit[s], even if Borrower has conveyed its interest in the Water Rights or assigned or modified the Permit[s]. You may contact Lender to determine whether the security interest has been released.
Borrower:
By:
Printed Name:
Lender:
By:
Printed Name:
Title:
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Include acknowledgments. |