LPPD000280

• Contract/PO #: C150144
• Contractor Name: Upper Platte and Beaver Canal Company
• Contract Type: Loan
• Water District: 1
• County: Morgan
• Loan Projects - Doc Type: Contract Documents

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812050 09/29/200310:38A.B1158 P412 F. JOHNSON
1 of 2 R 11.00 D 0.00 Morgan Counly, CO

DATE:
GRANTOR:
BENEFICIARY:
COUNTY:
PRINCIPAL LOAN AMOUNT:
LOAN CONTRACT:
REPAYMENT TERMS:
COLLATERAL:

Deed of Trust

August 1, 2003
UPPER PLATTE AND BEAVER CANAL COMPANY
COLORADO WATER CONSERVATION BOARD
MORGAN
$68,175
Loan Contract No. C150144, dated August 1,2003
2.25% Interest per annum for a period of 10 years
A one hundred percent (100%) undivided interest in the Grantor's
diversion structure located on the South Platte River at stream mile 107,
in the NE/4 of the NE/4 of the NW/4 of Section 35 Township 4 North
Range 58 West 6th P.M., Morgan County, Colorado, together with all
rights of access.

This indenture is between the GRANTOR, and the Public Trustee of the above referenced
COUNTY, State of Colorado ("PUBLIC TRUSTEE"),

Factual Recitals

1. The GRANTOR has executed a Promissory Note of even date and amount, set forth in the LOAN
CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with
REPAYMENT TERMS as shown above and in accordance with the Promissory Note or until loan is paid
in full.

2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of said
Promissory Note to the BENEFICIARY.

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, the above described COLLATERAL.

To have and to hold the same, together with all appurtenances, in trust nevertheless, that in case
of default in the payment of said Promissory Note, or any part thereof, or the interest thereon, or in the
performance of any covenants hereinafter set forth or in said Promissory Note or LOAN CONTRACT, then
upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after
advertising notice of said sale weekly for not less than four weeks in some newspaper of general
circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the time
of filing said notice and demand, at public auction for cash, at any proper place designated in the notice of
sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and
costs and all moneys. advanced for taxes, insurance and assessments, or on any prior encumbrance, with
interest thereon and pay the principal and interest due on said Promissory Note, rendering the overplus, if
any, unto the GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE shall
execute and deliver to the purchaser a deed to the COLLATERAL sold. The BENEFICIARY may purchase
said COLLATERAL or any part thereof at such sale.

The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the
COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey the
same in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and claims

Appendix 5 to Loan Contract C150144