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<br />6!5S~16 07/28/2003 11:15A B947 P372 Df
<br />1 of 2 R 11.00 D 0.00 N 0.00 LOlan Counly CO
<br />
<br />D"eed of Trust
<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />
<br />July 15, 2003
<br />The Low Line Ditch Company
<br />Colorado Water Conservation Board
<br />1313 Sherman Street, Suite 721
<br />Denver, CO 80203
<br />Logan
<br />$161,347.50
<br />Loan Contract No. C150133, dated July 15, 2003
<br />2.5% per annum for 20 years
<br />An undivided one hundred percent (100%) interest in and to the Low
<br />Line Ditch diversion structure located on the South Platte River in
<br />the SW/4 of the SW/4 of Section 27 Range 8 North Township 52
<br />. West 6th P.M., Logan County, Colorado, together with all rights of
<br />access to said property.
<br />
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />TERMS OF REPAYMENT:
<br />COLLATERAL:
<br />
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced COUNTY,
<br />State of Colorado ("PUBLIC TRUSTEE"),
<br />Factual Recitals
<br />1. The GRANTOR has executed. a. Promissory Note of Elven date and amount, set forth in the LOAN
<br />CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with TERMS OF
<br />REPAYMENT and in accordance with the Promissory Note or until loan is paid 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 case
<br />of default in the payment of said Promissory Note, or any part thereof, or the interest thereon, or in the
<br />performance of any covenants hereinafter set forth or in said Promissory Note or LOAN CONTRACT, then
<br />upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after advertising
<br />notice of said sale weekly for. not less than four weeks in some newspaper of general circulation in said
<br />COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the time of filing said notice
<br />and demand, at public auction for cash, at any proper place designated in the notice of sale. Out of the
<br />proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all
<br />moneys advanced .for taxes, insurance and assessments, or on any prior encumbrance, with interest
<br />thereon and pay the principal and interest due on said Promissory Note, rendering the overplus, if any,
<br />unto the GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE shall execute
<br />and deliver to the purchaser a deed to the COLLATERAL sold. The BENEFICIARY may purchase said
<br />COLLATERAL or any part thereof at such sale.
<br />
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is. well seized of the
<br />COLLATERAL in fee simple, and has full power and lawful authority to grant, bargaJn, sell and convey the
<br />same in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and,claims it
<br />may have in or to said COLLATERAL as a Homestead Exemption or other exemption, now or hereafter
<br />
<br />Appendix 5b to Loan Contract C150133
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