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<br />-- * 2 0050494 *
<br />20050494 4/22/20058:30:00 AM PATTI NICKELL
<br />1 of 4 DT R $21.00 D $0,00 Bent COWlty. CO
<br />
<br />DEED OF TRUST
<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />
<br />April 1, 2004
<br />LOWER ARKANSAS WATER MANAGEMENT ASSOCIATION
<br />State of Colorado for the use and benefit of the Department of Natural
<br />Resources, Water Conservation Board
<br />PROWERS & BENT
<br />$3,849,312.67
<br />Loan Contract No. C153715, dated March 14, 1996, amended June 27,
<br />1996; December 2, 1996; April 9, 1997; May 28, 1997; and March 10,
<br />2001 and April 1 ,2004
<br />3% per annum for 33 years (Years 2004 through 2007 with an annual
<br />payment of $122,000 and years 2008 through 2036 with an annual
<br />payment of $199,183.98)
<br />A one-hundred percent undivided interest in the property described on
<br />ATIACHMENT 1
<br />
<br />o
<br />o
<br />
<br />COUNTIES:
<br />'RINCIPAL LOAN AMOUNT:
<br />
<br />LOAN CONTRACT:
<br />
<br />TERMS OF REPAYMENT:
<br />
<br />COLLATERAL:
<br />
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced
<br />COUNTIES, State of Colorado ("PUBLIC TRUSTEE"),
<br />
<br />FACTUAL RECITALS
<br />
<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 TERMS OF
<br />REPAYMENT and in accordance with the Promissory Note or until loan is paid in full.
<br />
<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 />
<br />The GRANTOR, in consideration 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 />
<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
<br />in the performance of any covenants hereinafter set forth or in said Promissory Note or LOAN
<br />CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC
<br />TRUSTEE, after advertising notice of said sale weekly for not less than four weeks in some newspaper
<br />of general circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in
<br />effect at the time of filing said notice and demand, at public auction for cash, at any proper place
<br />designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or
<br />pay first all fees, charges and costs and all moneys advanced for taxes, insurance and assessments,
<br />or on any prior encumbrance, with interest thereon and pay the principal and interest due on said
<br />Promissory Note, rendering the overplus, if any, unto the GRANTOR; and after the expiration of the time
<br />of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the
<br />COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale.
<br />
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of
<br />the COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey
<br />the same in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and
<br />claims it may have in or to said COLLATERAL as a Homestead Exemption or other exemption, now or
<br />hereafter provided by law. The GRANTOR further covenants that the collateral is free and clear of all
<br />liens and encumbrances whatever and that the GRANTOR shall warrant and forever defend the
<br />
<br />Appendix D to Loan Contract C153715 Amendment No.6
<br />
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