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<br />Carol T�llis Montezuma Cou�' n� t�� (� 11.00
<br />� Deed of Trust �
<br />DATE October 20; 2004
<br />GRANTOR: HENRY BOLEN DITCH COMPANY
<br />BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br />COUNTY: MONTEZUM�4
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />$520,150
<br />Loan Contract No. C150179, dated October 20, 2004
<br />527614
<br />Paee: 1 of 2
<br />12/06J2004 12:53P
<br />D 0.00
<br />TERMS OF REPAYMENT: 2 .5D°/a per annum for_ 30 years �
<br />. - Co��arE�: ' An undi�ided 100 �percent interest any rights to the Henry Bolen Ditch that
<br />`��'� the Grantor holds including approximately 13,000 fe.et of pipeline
<br />commencing at diversion structure no. 534, �nd any easements, rights
<br />way, or other property or property interests held and used in connection
<br />with #he access and operation of said ditch/pipeline which is. located in �
<br />the Section 1, SE'/ Section 2, NE'/ of Section 11, Township ;35 North,
<br />. . Range 14 1Nest, and the diversion structure located in the SW'/< of Section.
<br />31, Township� 36. North, Range 13 West, N.M.P.M., Montezuma County,.
<br />Colorado.
<br />This indenture. is befin►een the Grantor, and the Pubfic Trustee of the abov� referenced Cou[vn!
<br />State of Colorado � "PUBLICTRUSTEE "), � �
<br />FAGTUAL.RECITALS
<br />The G�tat�TOR has executed a Promissory Note of even date and amount, set forth in the Lon[� _
<br />CONTRACT, fOC a IOaCI ICl tI1@ PRINCIPAL LOAN AMOUNT t0 be f@pald t0 tI1@ BENEFICIARY, WI�I't . TERMS OF
<br />REPaYnnEtvT and in accordance with the Promissory Note or until loan is paid.in full. -
<br />The GRaNTOR is desirows of securing : payment of the PRwciP,�. Lofw Annout�rr and interest of said
<br />P�OI'YIISSOP'�/ NOte t0 the BENEFICIARY. � -
<br />The Gt�arvTOR, in consic�eration of the premises and for the purpose aforesaid, does her�by grant,
<br />bargain, sell and convey unto the said PuBUC TRUSTEE in trust forever, the above described Cot_t_a��.
<br />To have and_ to hold the same, togethe� with all . appurtenances,- in trust nevertheless, that in
<br />ca5e of default in the payrnent of said Promissory Note, or. any part thereof, or the interest th�reQn, or in
<br />the perfiormance of any covenants hereinafter set forth or in said.Pcomissory Note or.Loan� Cotv'rRacT,
<br />then upon the BENEFiciaRY filing notice of election and demand for sale; said PuB�ic TRUS�E, after
<br />adyertising .notice-:.�# said sale weekly for not less than four weeks in some newspaper of:general
<br />circulation in said CouNN, shall sel! said Co��,TEt� in the manner prov,ided 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
<br />of sale. Out of th� proceeds of said sale, the PuBUC TRUSTEE shall retain or pay first all fees, charges
<br />and costs and all moneys advanced for taxes, insurance and assessments, or on any prior __
<br />encumbrance, with interest thereon and pay the principal and interest due on said Promissory Note,
<br />rendering the overplus, if any, unto the GRatvTOR; and after the expiration of the time of redemption, the
<br />PUBLIC TRUSTEE Shall execute and deliver to the purchaser a deed to the Co�t�rEwu. sold. The
<br />BEtvEFiciaRY may purchase said Go��afEw� or any part thereof at such sale. �.
<br />The G�N�roR covenants that at the time of the delivery of these presents, it is well seized of the
<br />Co�i..a,TeRa� 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 G�TOR fully waives and releases aU rights and claims
<br />it may have in or to said Co�u�TEw�� as a Homestead Exemption or other exemption, now or hereafter
<br />provided by law. The GRatvTOR further covenants that the collateral is free and clear of all liens and
<br />encumbrances whatever and that the Gw4NTOR shall warrant and forever defend the Co��aTEw� in the
<br />Appendix 5 to Loan Contract C150179
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