LPPD000266

• Contract/PO #: C153756
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Prowers
• Bill Number: SB 96-124
• Loan Projects - Doc Type: Contract Documents

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'( WR!1iEN REOUEet~S}'N~TE 'Afftl
EED OF TRUST ISrR!:[~f\SED" ~ 479151 02/12/1998 08: 30A DT
"'A l 4Ll1U4 1 or 2 R 11.00 D 0. 00 N 0, 00 P~ow.rs Counly,Co.
DAYOF -.. . .,.. ",,' ,! Deed o{tfusf

~i~, made this ,~:tday of A......y.~~t 1997, between the Lower Arkansas Water
ORRAINl\t1a~~EVA~aia.tiOnJfilj!JE!ddressis P.O. Box 1161, Lamar, CO 81052,hereinafter referred to as GRANTOR, and
. tlieP~~&.!~a~ ~ty of Prowers, State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
PROW W1tnesseth~ that whereas, GRANTOR has executed a Promissory Note, which is a part of Loan Contract
C153756 (the Contract), for a loan in the principal sum of $65,000.00 to be repaid to the State of Colorado for the LIse and benefit
of the Department of Natural Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721,
Denver, Colorado 80203, with interest thereon from the date of first disbursement of funds under the Contract at the interest rate
of 3y..% per annum, payable in 10 annual installments, in accordance with the terms of the Promissory Note, or until'loan is paid
in full.
And whereas, the GRANTOR. is desirous of securing payment of the principal and interest of said promissory note
to the State of Colorado.
Now, therefore, the GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby
grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, to wit: 100 shares of capital stock of the Highland
Irrigation Company which are evidenced by Stock Certificate No. 328 which represents a total of 2,204.6 shares. The
shares represent Grantor's pro rata interest in the following water rights: Priority No. 27, decreed for 16.6 cfs in the original
adjudication for Water District No. 19 on August 10, 1903, with a May 31, 1866 appropriation date, which was originally
decreed to the Sizer Ditch and was transferred to the Highland Canal' by decree of the Bent County District Court dated
November 11, 1910. Priority No. 97, decreed for 7.4 cfs in the original adjudication for Water District No. 19 on August 10,
1903, with an April 1, 1884 appropriation date, which was originally decree~.to the Sizer Ditch and transferred to the Highland
Canal by decree of the Bent County District Court dated November 11,;1910.' Priority No. 120, decreed for 38.5 cfs by the
Bent County District Court on August 30, 1922, with a March 1, 1909 app,opi"i9t!on date, (collectively or hereinafter referred to
as the "Property"). ,.
To have and to hold the same, together with all and)si~g~i~r the privileges and appurtenances thereunto
belonging: In Trust nevertheless, that in case of default in the payment of eaic I'lot"" or any part thereof, or in the payment of the
interest thereon, according to the tenor and effect of said note or in the paY:i'i1eot or: any prior encumbrances, principal or interest,
if any, or in case default shall be made in or in case of violation or br;a~(;,t,' qi" any of the terms, conditions, covenants or
agreements contained in the Contract, the beneficiary heieunder may decla~;e a viol~tion of any of the covenants contained in the
Contract and elect to advertise said Property for sale, and demand such s~l~ .p8~ljng a notice of such election and demand for
sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and ,~I?m~nd for sale, the PUBLIC TRUSTEE shall cause a
copy of the same to be recorded in the recorder's office of the county in whieh'salci' p'roperty is situated, it shall and may be lawful
for the PUBLIC TRUSTEE to sell and dispose of the same (en masse or in sep$~te,parcels, as the said PUBLIC TRUSTEE may think
best), and all the right, title and interest of the GRANTOR, its successors or as~igh~a,erein, at public auction at such time and at
such location as shall be designated in the PUBLIC TRUSTEE'S Notice of Sale;Jor the:;highest and best price the same will bring in
cash, four weeks public notice having been previously given of the time and "race of such sale, advertisement once each week
for five consecutive weeks, in some newspaper of general circulation at that time published in said County of Prowers, a copy of
which notice shall be mailed within ten days from the date of the first publication thereof to the GRANTOR at the address herein
given and to such person or persons appearing to have acquired a subsequent record interest in said Property at the address
given in the recorded instrument; where only the county and state is given as the address then such notice shall be mailed to the
county seat, and to make and give to the purchaser of the Property at such sale, a certificate in writing describing the Property
purchased, and the sum paid therefor, and the time when the purchaser (or other person entitled thereto) shall be entitled to the
deed therefor, unless the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE shall, upon demand by the
person holding the said certificate of purchase, when said demand is made, or upon demand by the person entitled to a deed to
and for the Property purchased, at the time such demand is made, the time for redemption having expired, ma~e and execute to
such person a deed to the Property purchased, which said deed shall be in the ordinary form of a conveyance, and shall be
signed, acknowledged and delivered by the said PUBLIC TRUSTEE and shall convey and quitclaim to such per;;oli entitled to such
deed, the Property purchased as aforesaid and all the right, title, interest, benefit and equity of redemption of the GRANTOR, its
successors and assigns made therein, and shall recite the sum for which the said Property was sold and sht3.l1 refer to the power
of sale therein contained, and to the sale made by virtue thereof; and in case of an assignment of such certifi0-3te of purchase, or
in case of the redemption of the Property, by a subsequent encumbrancer, such assignment or redemption shall at')o be refer-itid
to in such deed; but the notice of sale need not be set out in such deed and the PUBLIC TRUSTEE shall, out oftha proceeds or
avails of such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary
hereunder the principal and interest due on said note according to the tenor and effect thereof, and all moneys advanced by such
beneficiary or legal holder of said note for insurance, taxes and assessments, with interest thereon at ten per cent per annum,
rendering the surplus, if any, unto the GRANTOR, its legal representatives or assigns; which sale and said deed so made shall be a
perpetual bar, both in law and equity, against the GRANTOR, its successors and assigns, and all other perso'1s c.laiming the
Property, or any part thereof, by, from, through or under the GRANTqR, or any of them. The holder of said note may pUrCh8$e
Property or any part thereof; and it shall not be obligatory upon the purchaser at any such sale to see to the application of the
purchase money.

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Appendix E to Loan Contract #C153756

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