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<br />1 of 2 R 11.00 D 0.00 Steve Moreno Clerk & Recorder
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<br />185
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<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />REPAYMENT TERMS:
<br />COLLATERAL:
<br />
<br />Deed of Trust
<br />
<br />October ,1, 2003
<br />
<br />THE OGILVY IRRIGATING AND LAND COMPANY
<br />COLORADO WATER CONSERVATION BOARD
<br />WELD
<br />$353,500
<br />Loan Contract No. C150148, dated October 1,2003
<br />2.25% Interest per annum for a period of 20 years
<br />An undivided one hundred percent (100%) interest in Seely Lake located
<br />primarily within Sections 22, 23, 24, 25 and 26, Township 6 North, Range
<br />66 West, 6th P.M., Weld County, Colorado, as conveyed to the GRANTOR
<br />by John M. Studebaker and Lafayette Lamb by Deed made September
<br />22, 1905, and recorded in Book 228 at Pages 490 through 492 of the
<br />records of the County Clerk of Weld County, together with all easements,
<br />rights-of-way and all other structures, appliances, fixtures and any other
<br />property used in connection with the operation of said reservoir and
<br />access to said reservoir.
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced
<br />COUNTY, State of Colorado ("PUBLIC TRUSTEE"),
<br />
<br />FACTUAL RECITALS
<br />1. The GRANTOR has executed a Promissory Note of even date and amount, set forth in the LOAN
<br />CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid.to the BENEFICIARY, with REPAYMENT
<br />TERMS as shown above and in accordance with the Promissory Note or until loan is paid in full.
<br />2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of said
<br />Promissory Note to the BENEFICIARY.
<br />The GRANTOR, inconsideration of the premises and for the purpose aforesaid, does hereby
<br />grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described
<br />COLLATERAL.
<br />To have and to hold the same, together with all appurtenances, in trust nevertheless, that in
<br />case of default in the payment of said Promissory Note, or any part thereof, or the interest thereon, or in
<br />the performance of any covenants hereinafter set forth or in said Promissory Note or LOAN CONTRACT,
<br />then upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after
<br />advertising notice of said sale weekly for not less than four weeks in some newspaper of general
<br />circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the
<br />time of filing said notice and demand, at public auction for cash, at any proper place designated in the
<br />notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees,
<br />charges and costs and all moneys advanced for taxes, insurance and assessments, or on any prior
<br />encumbrance, with interest thereon and pay the principal and interest due on said Promissory Note,
<br />rendering the overplus, if any, unto the GRANTOR; and after the expiration of the time of redemption, the
<br />PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the COLLATERAL sold. The
<br />BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale.
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the
<br />COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey the
<br />same in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and
<br />
<br />Appendix 5 to Loan Contract C150148
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