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<br />Deed of Trust ~. ~ E?/oN'IJO
<br />
<br />This indenture, made this 15t day of October 2001, between The North Poudre Irrigation
<br />Company, whose address is 3729 Cleveland Avenue, P.O. Box 100, Wellington, Colorado 80549,
<br />hereinafter referred to as GRANTOR, and the Public Trustee of the County of Larimer, State of Colorado,
<br />hereinafter referred to as PUBLIC TRUSTEE,
<br />
<br />Witnesseth, that whereas, GRANTOR has executed Contract C153572, dated February 27,
<br />1990, as amended, ("Contract") for a loan in the amount of $340,550.90 with loan contract performance
<br />obligations to be repaid to the STATE OF COLORADO for the use and benefit of the Department of
<br />Natural Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721,
<br />Denver, Colorado, 80203,
<br />
<br />And whereas, the GRANTOR is desirous of securing the performance of these loan contract
<br />obligations under said Loan Contract to the State of Colorado.
<br />
<br />Now, therefore, the GRANTOR, in consideration of the premises and for the purpose aforesaid,
<br />does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the Fossil
<br />Creek Reservoir and Dam, located in Sections 10 and 15, Township 6 North, Range 68 West, of the
<br />6th PM in the County of Larimer, State of Colorado, collectively or hereinafter referred to as the
<br />"Property."
<br />
<br />To have and to hold the same, together with all and singular the privileges and appurtenances
<br />thereunto belonging: In Trust nevertheless, that in case of default in the payment of said note, or any
<br />part thereof, or in the payment of the interest thereon, according to the tenor and effect of said note or in
<br />the payment of any prior encumbrances, principal or interest, if any, or in case default shall be made in
<br />or in case of violation or breach of any of the terms, conditions, covenants or agreements contained in
<br />the Contract, the beneficiary hereunder may declare a violation of any of the covenants contained in the
<br />Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of such
<br />election and demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and
<br />demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the recorder's
<br />office of the county in which said Property is situated, it shall and may be lawful for the PUBLIC TRUSTEE
<br />to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE may
<br />think best), and all the right, title and interest of the GRANTOR, its successors or assigns therein, at
<br />public auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE'S Notice
<br />of Sale, for the highest and best price the same will bring in cash, four weeks public notice having been
<br />previously given of the time and place of such sale, advertisement once each week for five consecutive
<br />weeks, in some newspaper of general circulation at that time published in said county, a copy of which
<br />notice shall be mailed within ten days from the date of the first publication thereof to the GRANTOR at the
<br />address herein given and to such person or persons appearing to have acquired a subsequent record
<br />interest in said Property at the address given in the recorded instrument; where only the county and
<br />state is given as the address then such notice shall be mailed to the county seat, and to make and give
<br />to the purchaser of the Property at such sale, a certificate in writing describing the Property purchased,
<br />and the sum paid therefor, and the time when the purchaser (or other person entitled thereto) shall be
<br />entitled to the deed therefor, unless the same shall be redeemed as is provided by law; and said PUBLIC
<br />TRUSTEE shall, upon demand by the person holding the said certificate of purchase. when said demand
<br />is made, or upon demand by the person entitled to a deed to and for the Property purchased, at the time
<br />such demand is made, the time for redemption having expired, make and execute to such person a
<br />deed to the Property purchased, which said deed shall be in the ordinary form of a conveyance, and
<br />shall be signed, acknowledged and delivered by the said PUBLIC TRUSTEE and shall convey and
<br />quitclaim to such person entitled to such deed, the Property purchased as aforesaid and all the right,
<br />title, interest, benefit and equity of redemption of the GRANTOR, its successors and assigns made
<br />
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<br />Appendix 2 to Contract C153572 Amendment No.2
<br />
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