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<br />- 3093325c~-08708J2003c'02:i1P Weld County, CO
<br />1 of 3 R 16.00 D 0.00 steve Moreno Clerk 8. Recorder
<br />
<br />CAN C f L L f JJeCEIVE'1
<br />OCT 2 7 2005 AUG 2 0 200j
<br />
<br />Deed of Trust MARY iH/~T 8oIoIarfoWaterCcc1servalioo ~
<br />P01JLJ~ 1ll1!iW.5;rEE
<br />This indenture, made this q'tt-- day of January 2003, b=e~~ Ranches
<br />Property Owner's Association, a Colorado non-profit corporation, whose address is P. O. Box
<br />1023, Brighton, CO, 80601hereinafter referred to as GRANTOR, and the Public Trustee of the
<br />County of Weld, State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br />
<br />Witnesseth, that whereas, GRANTOR has executed a Promissory Note dated July 20,
<br />2000, pursuant to Loan Contract No. C150010 dated June 6, 2000 (the Contract), for a loan in
<br />the principal sum of $305,250.00 to be repaid to the State of Colorado for the use and benefit of
<br />the Department of Natural Resources, Water Conservation Board, whose address is 1313
<br />Sherman Street, Room 721, Denver, Colorado 80203, with interest thereon from the date of
<br />substantial completion of the project under the Contract payable in 30 annual installments, in
<br />accordance with the terms of the Promissory Note, or until loan is paid in full.
<br />
<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest
<br />of said promissory note to the State of Colorado.
<br />
<br />Now, therefore: the GRANTOR, in consideration of the premises and for the purpose
<br />aforesaid, does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust
<br />forever, to wit: eleven (11) shares of the capital stock of the Burlington Ditch, Reservoir and
<br />Land Company, as evidenced by Certificate No. !I7:b~ ,eleven (11) sharei-t l~ capitol
<br />stock of the Wellington Reservoir Company, as eVidenced by Certificate No. , and
<br />eleven (11) shares of the Brighton Lateral Ditch Company, as evidenced by Ce ificate No.
<br />.:3.5~ ' and all of the water, water rights and associated rights represented thereby,
<br />hereina er referred to as 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 payment
<br />of said note, or any part thereof, or in the payment of the interest thereon, according to the tenor
<br />and effect of said note or in the payment of any prior encumbrances, principal or interest, if any,
<br />or in case default shall be made. in or in case of violation or breach of any of the terms,
<br />conditions, covenants or agreements contained in the Contract, the beneficiary hereunder may
<br />declare a violation of any of the covenants contained in the Contract and elect to advertise said
<br />Property for sale, and demand such sale by filing a notice of such election and demand for sale
<br />with the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, the
<br />PUBLIC TRUSTEE shall cause a copy of the same to be recorded. in the recorder's office of the
<br />county in which said Property is situated, it shall and may be lawful for the PUBLIC TRUSTEE to
<br />sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE
<br />may think best), and all the right, title and interest of the GRANTOR, its successors or assigns
<br />therein, atpublic auction at such time and at such location as shall be designated in the PUBLIC
<br />TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in cash, four weeks
<br />public notice having been previously given of the time and place of such sale, advertisement
<br />once each week for five consecutive weeks, in some newspaper of general circulation at that
<br />time published in said County of Weld, a copy of which notice shall be mailed within ten days
<br />from the date of the first publication thereof to the GRANTOR at the address herein given and to
<br />such person or persons appearing to have acquired a subsequent record interest in said
<br />Property at the address given in the recorded instrument; where only the county and state is
<br />given as the address then such notice shall be mailed to the county seat, and to make and give
<br />to the purchaser of the Property at such sale, a certificate in writing describing the Property
<br />purchased, and the sum paid therefor, and the time when the purchaser (or other person
<br />entitled thereto) shall. be entitled to the deed therefor, unless the same shall be redeemed as is
<br />provided by law; and said PUBLIC TRUSTEE shall, upon demand by the person holding the said
<br />certificate of purchase, when said demand is made, or upon demand by the person entitled to a
<br />deed to and for the Property purchased, at the time such demand is made, the time for
<br />redemption having expired, make and execute to such person a deed to the Property
<br />purchased, which said deed shall be in the ordinary form of a conveyance, and shall be signed,
<br />acknowledged and delivered. by the said PUBLIC TRUSTEE and shall convey and. qttitclaim to
<br />such person entitled to such deed, the Property purchased as aforesaid and all the right, title,
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