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<br />RC,PTN #. 96041324 06) 10 /96 '16: 30: 00
<br />M RODRNBERGER RECORDER, 'LARIMER COUNTY
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<br />#
<br />CO
<br />
<br />P.AGJi~S
<br />STATE
<br />
<br />2 ,'EE
<br />DOC J;'EE -
<br />
<br />$11.00
<br />$.00
<br />
<br />DEED OF TRUST
<br />
<br />THIS INDENTURE, Made this
<br />
<br />5th
<br />
<br />day of
<br />
<br />August ,1991
<br />
<br />, between
<br />
<br />THE WINDSOR RESERVOIR & CANAL COMPANY, a Colorado non-
<br />profit corporation,
<br />whose add'm is p, 0, Box 206, Eaton, CO 80615
<br />
<br />hereinafter referred to as grantor, and the Public Trustee of the *Countyof
<br />Larimer ' State of Colorado, hereinafter referred to as Public Trustee.
<br />WITNESSETH, THAT, WHEREAS, THE WINDSOR RESERVOIR & CANAL
<br />COMPANY /Project Contract and
<br />has executed a lJromissory note or notes, hereinafter referred to in the singular, dated Angus t 5, 1991 . for the
<br />principal sum of Seven Hundred Sixty One Thousand & No/lOO ($761,000 .00,)lIa", payable to the o,de,of
<br />B Tha State of Colorado for the use and benefit of the Colorado Water Conservation
<br />~~~e add",,, is 721 State Centennial Building, 1313 Sherman Street, Denver, CO 80203
<br />after the date hereof, with interest thereon from the dare thereof
<br />percent per annum, payable over 25 years in equal annual installments of
<br />Thousand Nine Hundred Ninety-four & 82/100 ($53,994,82) Dollars
<br />
<br />(pf
<br />
<br />(\1 the rate of 5 %
<br />FHty-thre9
<br />
<br />~ AND WHEREAS, The grantor is desirous of securing payment of the principal and interest of said promissory note in whose hands soever the said
<br />note or any {)r them may be.
<br />NOW, THEREFORE, The grantor. in consideration of the premises and for the purpose aforesaid. does hereby grant. bargain, sell and convey
<br />unto the said Public Trustee in trust forever, the following described property, situate in the County of
<br />Larimer ,State of Co 1m ado, to wit: The Douglas Dam structure and all
<br />appurtenant structures thereto which reservoir is located in Sections 26, 35
<br />and 36, T9N, R69W and in Section 2, T8N, R69W, with the dam structure located
<br />on the west portion of the reservoir on Dry Creek.
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<br />also known by street and number as N / A
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<br />TO HAVE AND TO HOLD the same. together with all and singular the privileges and appurtenances thereunto belonging: In Trust nevertheless, that
<br />in case of default in the payment of said note or any ofthem, or any part thereof, or in the payment of the interest thereon. according to the tenor and effect of
<br />said note or any of them, or in the payment of any prior encumbrances, principal or interest, if any, or in case default shall be made in or in case of violation
<br />or breach of any of the terms, conditions, convenants or agreements herein contained, the beneficiary hereunder or the legal holder of the indebtedness
<br />secured hereby may declare a violation of any of the covenants herein contained and elect to advertise said property for sale and demand such sale, then,
<br />upon filing notice of such election and demand for sale with the Public Trustee, who shall upon receipt of such notice of election and demand for sale cause
<br />a copy of the same to be rec.orded in the recorder's office of the county in which said real estate is situated, it shall and may be lawful for the Public Trustee
<br />to sell and dispose of the same (en masse or in separate parcels, as the said Pub~ic Trustee may think best), and all the right, title and interest of the grantor,
<br />
<br />his heirs or assigns therein, at public auction at the east front door of the Court House, in the County of Larimer
<br />, State of Color ado, oron said premises. or any part thereof as may be specified in the notice of said sale, for the highest and best price the
<br />same will bring in cash, four weeks public notice having been previously given of the time and place of such sale, by advertisement, weekly, in some
<br />newspaper of general circulation at that time published in said County of Larimer . a copy of which notice shall be mailed
<br />within ten days from the date of the first publication thereof to the grantor at the address herein given and to such person or persons appearing to have
<br />acquired a subsequent record interest in said real estate at the address given in the recorded instrument; where only the county and state is given as the
<br />address then such notice shall be mailed to the county seat. and to make and give to the purchaser or purchasers of such property at such sale. acertiftcate
<br />or certificates in writing describing such property purchased. and the sum or ,sums paid therefor. am:l the time when the purchaser or purchas~Js (QTOther
<br />person entitled thereto) shall be entitled to a deed at deeds therefor, unless tlie same shall be redeemed as is provided by law; and said Public Trustee shall,
<br />upon demand by the person or persons holding the said certificate or I;ertificates of pu;chase. when said demand is made, or upon demand by the person
<br />entitled to a deed to and for the property purchased, at the time such demand is made. the time for redemption having expired, make and execute to such
<br />person or persons a deed or deeds to the said property purchased, which said deed or deeds shall be in the ordinary form of a conveyance, and shall be
<br />signed, acknowledged and delivered by the said Public Trustee and shall convey and quitclaim to such person or persons entitled to such deed, the said
<br />property purchased as aforesaid and all the right, title, interest, benefit and equity of redemptiol\,of.the grantor, his heirs and assigns therein, and shall
<br />recite the sum or sums for which the said property was sold and shall refer to the power of sale the~ contained, and to the sale or sales made by virtue
<br />thereof; and in case of an assignment of such certificate or certificates of purchase, or in case of the redemption of such property, by a subsequent
<br />encumbrancer, such assignment or redemption shall also be referred to in such deed or deeds; but the notice of sale need not be set out in such deed or
<br />deeds and the Public Trustee shall, out of the proceeds or avails of such sale. after first paying and retaining all fees, charges and costs of makings aid sale,
<br />pay to the beneficiary hereunder or the legal holder of said note the prilJ:cipal and interest due on said note according to the tenor and effect thereof, and all
<br />moneys advanced by such beneficiary or legal holder of said note for insurance, taxes and assessments, with interest thereon at 5 per cent per
<br />annum, rendering the overplus, if any, unto the grantor, his legal representatives or assigns; which sale or sales and said deed or deeds so made shall be a
<br />perpetual bar, both in law and equity, against the grantor, his heirs and assigns, and all other persons claiming the said property, or any part thereof, by,
<br />from, through or under the grantor, or any of them. The holder or holders of said note or notes may purchase said property or any part thereof; and it shall
<br />not be obligatory upon the purchaser or purchasers at any such sale to see to the application of the purchase money. If a release deed be required, it is
<br />agreed that the grantor, his heirs or assigns, will pay the expense thereof.
<br />
<br />*If in Denver, insert "City and."
<br />
<br />No. 341A. Rev. 2-84. DEED OF TRUST (Public lfustee) With Due on Sale Clause
<br />Bradford Publishing. 5825 W. 6th Ave.. Lakewood. CO 80214 _ (303) 233-6900
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