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's!113B 'fj!/1372fI3H:20ABI48 P992 'DT'~"'~"~~' 1 0' 3 R 16.00 D 0.00 N 0.00 Logan Counly CO Deed of Trust DATE: May 1 , 2003 GRANTOR: STIEB LAND COMPANY, LLP a Colorado limited liability partnership formed pursuant to the Registration Statement for Registration as a Registered Limited Liability Partnership or a Registered Limited Liability Limited Partnership recorded with the Colorado Secretary of State on February 12,1998. BENEFICIARY: COLORADO WATER CONSERVATION BOARD COUNTY: LOGAN COUNTY PRINCIPAL LOAN AMOUNT: $153,015 LOAN CONTRACT: Loan Contract No. C150136, dated May 1,2003. TERMS: I nterest of 2.50% per annum and repayment period of20 years COLLATERAL: An undivided one hundred percent (100%) interest inaod to approximately 220 acres described as the irrigated cirCle located in the northwest quarter of Section 26, Township 9 North, Range 51 West, 6th P.M" Logan County, together with all water and water rights appurtenant to the property for domestic, livestock or irrigation use including but not limited to a pro rata share of the augmentation water generated through water recharge project constructed with the proceeds from this loan and the GASP units associated with the well located on the described property, and all pumps, motors, electric. panels and ancillary equipment associated with the irrigation of said property. This indenture is between the GRANTOR, and the Public Trustee of the above . referenced COUNTY, State of Colorado ("PUBLIC TRUSTEE"), Factual Recitals 1. Stieb Bros., Inc., LLC, executed a Promissory Note dated May 1, 2003, set forth in the above described LOAN CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with terms as shown above and in accordance with the Promissory Note and Loan Contract or until loan is paid in full, and the GRANTOR has pledged the COLLATERAL to secure payment of the principal and interest of said Promissory Note. . Appendix 4 to Loan Contract .C150136