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<br />Deed of Trust 1f'1rN: ~E .6'/O?I/O 0
<br />
<br />This ind~nture, made this 1st day of October 2001, between The North Poudre
<br />Irrigation Company, whose address is 3729 Cleveland Avenue, P.O. Box 100, Wellington,
<br />Colorado 80549, hereinafter referred to as GRANTOR, and the Public Trustee of the
<br />County of Larimer, State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br />
<br />Witnesseth, that whereas, GRANTOR has executed Contract No. C153496, dated
<br />July 31, 1987, as amended, ("Contract") for a loan in the amount of $404,501.99 with loan
<br />contract performance obligations to be repaid to the STATE OF COLORADO for the use
<br />and benefit ,of the Department of Natural Resources, Water Conservation Board, whose
<br />address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, and
<br />
<br />And whereas, the GRANTOR is desirous of securing the performance of these loan
<br />contract obligations under said Loan Contract to the State of Colorado.
<br />
<br />Now, therefore, the GRANTOR, in consideration of the premises and for the
<br />purpose aforesaid, does hereby grant, bargain, sell and convey unto the said PUBLIC
<br />TRUSTEE in trust forever, to wit: Fossil Creek Dam and Reservoir located in Sections 10
<br />and 15, Township 6 North, Range 68 West, PM, collectively or hereinafter referred to as
<br />the "Property."
<br />
<br />To have and to hold the same, together with all and singular the privileges and
<br />appurtenances thereunto belonging: In Trust nevertheless, that in case of default in the
<br />payment of said note, or any part thereof, or in the payment of the interest thereon,
<br />according to the tenor and effect of said note or in the payment of any prior
<br />encumbrances, principal or interest, if any, or in case default shall be made in or in case
<br />of violation or breach of any of the terms, conditions, covenants or agreements contained
<br />in the Contract, the beneficiary hereunder may declare a violation of any of the covenants
<br />contained in the Contract and elect to advertise said Property for sale, and demand such
<br />sale by filing a notice of such election and demand for sale with the PUBLIC TRUSTEE.
<br />Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE shall
<br />cause a copy of the same to be recorded in the recorder's office of the county in which
<br />said Property is situated, it shall and may be lawful for the PUBLIC TRUSTEE to sell and
<br />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
<br />therein, at public auction at such time and at such location as shall be designated in the
<br />PUBLIC TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in
<br />cash, four weeks public notice having been previously given of the time and place of such
<br />sale, advertisement once each week for five consecutive weeks, in some newspaper of
<br />general circulation at that time published in said county, a copy of which notice shall be
<br />
<br />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
<br />subsequent record interest in said Property at the address given in the recorded
<br />
<br />C J!!iI"'""'::-. ~~l>'~Y,&
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<br />
<br />Appendix 2 to Contract C153496 Amendment No.3
<br />
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