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<br />PartIal release 01 Oeed of Trust
<br />Made this date: \-;)J--f)l~
<br />Angela Dazlich, Public Trustee
<br />larimer, County, Co~ora,dQ A" I
<br />S '< e.. JU.\^'. '\?i1-1 , \
<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />TERMS OF REPAYMENT:
<br />COLLATERAL:
<br />
<br />_.-- -. -. _.- -__. .-. .. _ __,..iII-... . ..... II r. _ ...
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<br />PAGES -
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<br />2
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<br />Deed of Trust
<br />
<br />February 18, 2005
<br />The Greeley and Loveland Irrigation Company
<br />COLORADO WATER CONSERVATION BOARD
<br />LARIMER
<br />$2,844,000
<br />Loan Contract No. C 150161, dated February 18, 2005
<br />3.0% per annum for 30 years
<br />An undivided one-hundred percent interest in the Boyd Lake Reservoir
<br />covering an area of approximately 1,750 acres and a capacity of
<br />approximately 48,874 acre feet, located primarily in Sections 29 and 32 of
<br />Township 6 North, Range 68 West and Sections 5 and 8 of Township 5
<br />North, Range 68 West of the 6th P.M., Larimer County, State of Colorado,
<br />together with all gates, easements, ditches, canals, rights-of-way and all
<br />other structures, appliances, fixtures and any other property used in
<br />connection with the operation of said reservoir and access to said reservoir.
<br />
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced COUNTY, State
<br />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 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 />
<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 />
<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, bargain, 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 />
<br />Appendix 5 to Loan Contract C150161
<br />Page 1 of 2
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<br />COLORADO WATER CONSERVATION BOARD
<br />v( S S BIONDO C C 0
<br />~ 1580 LOGAN ST 1750
<br />DENVER CO 80203
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