Colorado Statutes
§ 38-39-106 — Future advances
(1)Any mortgage may, by its terms, secure
future advances up to a total maximum principal amount expressly set forth in such
mortgage. Such mortgage shall be effective to secure payment of all advances,
both obligatory and optional, up to the stated maximum principal amount to the
same extent and with the same effect and priority as if such total maximum
principal amount had been fully disbursed on or before the date such mortgage was
recorded.
(2)Such mortgage shall also secure, to the same extent and with the same
effect and priority, the following additional amounts regardless of whether such
additional amounts, when added to the principal amount of the indebtedness,
exceed the maximum principal amount stated in the mortgage:
(a)All increases in the principal amount that r
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Legislative History
Source: L. 2002: Entire section added, p. 377, � 1, effective August 7.
Nearby Sections
15
§ 38-1-101.5
Necessity of taking land for pipelines§ 38-1-101.7
Limitations on the use of right-of-way§ 38-1-102
Petition - contents - parties§ 38-1-103
Summons - return - publication§ 38-1-104
Trial - amendments - rules§ 38-1-106
Jury§ 38-1-108
Order of possession§ 38-1-109
Intervention - cross petition§ 38-1-110
Appellate review§ 38-1-111
Possession pending appeal§ 38-1-112
Payment to clerk or owner§ 38-1-113
Verdict recorded§ 38-1-115
Contents of report or verdict