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<br />160002~i6/23j2003i2:22PDf L. .tHchols
<br />1 0' 2 R 11.00 D 0.00 N 0.00 Crowley Co, Co
<br />
<br />Deed of Trust
<br />
<br />May 1, 2003
<br />
<br />THE lAKi::MEREDITH RESERVOIR COMPANY
<br />
<br />COLORADO WATER CONSERVATION BOARD
<br />
<br />CROWLEY
<br />$1,000,000
<br />
<br />LoanContract No. C150137, dated May 1, 2003
<br />
<br />4.00% Interest per annum for a period of 30 years
<br />A one hundred percent (100%) undivided interest in the property known
<br />as Lake Meredith Reservoir with a capacity of approximately 41,000
<br />acre-feet located in Township 21 South, Range 56 West; Township
<br />21 South, Range 57 West, Township 22 South, Range 56 West and
<br />Township 22 South, Range 57 West, in Crowley County, Colorado,
<br />together with all gates, easements, ditches, canals, rights-of-way and
<br />all other structures, appliances, fixtures and any other property used
<br />in connection with the operation of said reservoir and access to said
<br />reservoir.
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced
<br />COUNTY, State of Colorado ("PUBLIC TRUSTEE"),
<br />Factual Recitals
<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 B~NEFICIARY, with
<br />REPAYMENT TERMS as shown above and in accordance with the Promissory Note or until loan is paid
<br />in full.
<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 />The GRANTOR, in Consideration of the premises and for the purpose aforesaid, does hereby grant,
<br />bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described COLLATERAL.
<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, orin
<br />the performance of any covenants hereinafter set forth or in said Promissory Note or LOAN CONTRACT,
<br />then upon the. BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after
<br />advertising notice of said sale weekly for not less than four weeks in some newspaper of general
<br />circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the time
<br />of filing said notice and demand, at public auction for cash, at any proper place designated in the notice of
<br />sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and
<br />costs and all moneys advanced for taxes, insurance and assessments, or on any prior encumbrance, with
<br />. interest thereon and pay the principal and interest due on said Promissory Note, rendering the overplus, if
<br />any, unto the GRANTOR; and after the- expiration of the time of redemption, the PUBLIC TRUSTEE shall
<br />execute and deliver to the purchaser a deed to the COLLATERAL sold. The BENEFICIARY may purchase
<br />said COLLATERAL or any part thereof at such sale. -
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the
<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />REPAYMENT TERMS:
<br />COLLATERAL:
<br />
<br />Appendix 5 to Loan Contract C150137
<br />
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