|
<br />"tj
<br />~
<br />rd
<br />o
<br />g~\-
<br />
<br />-P-4
<br />.....
<br />rd frJ
<br />e: ~
<br />OJ ~
<br />en ...
<br />$:; ~
<br />o QJ
<br />u::
<br />J-l tU
<br />OJ.a~
<br />..... tU S
<br />~Zgc<)
<br />~ '+04 ~o
<br />o .....' 8
<br />O .... OJ 0Cl
<br />I:: ~ 0
<br />"'0 QJVl]
<br />rd ~ lii C)
<br />J-l !=i '0
<br />o 5 u
<br />~O ~~ aJ'
<br />Q.I c<) ~
<br />U f"'\ ....... OJ
<br />~ ~ a
<br />
<br />872784
<br />lof2
<br />
<br />\\11\1\\1\\\\11\1\\1\\\111\\1\\\ 1\1\\11\ L' cia J Dalev
<br />11/18/2003 9:40:42 AM m. 0
<br />R $11.00 D $0.00 Laplata County. C
<br />
<br />z
<br />
<br />DT
<br />
<br />Deed of Trust
<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />REPAYMENT TERMS:
<br />COLLATERAL:
<br />
<br />October 1, 2003
<br />THE PINE RIVER-BAYFIELD DITCH COMPANY
<br />COLORADO WATER CONSERVATION BOARD
<br />LA PLATA
<br />$202,000
<br />Loan Contract No. C150154, dated October 1,2003
<br />2.75% Interest per annum for a period of 30 years
<br />An undivided one hundred percent (100%) interest in the Beaver Creek
<br />siphon located in Section 34, Township 34 North, Range 7 West, NMP, in
<br />La Plata County, Colorado, together with all easements, rights-of-way
<br />and all other structures, appliances, fixtures and any other property used
<br />in connection with the operation of said siphon and access to said siphon.
<br />
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced
<br />COUNTY, State of Colorado ("PUBLIC TRUSTEE"),
<br />
<br />Factual Recitals
<br />
<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 REPAYMENT
<br />TERMS as shown above 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
<br />grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described
<br />COLLATERAL.
<br />
<br />To have and to hold the same, together with all appurtenances, in trust nevertheless, that in
<br />case of default in the payment of said Promissory Note, or any part thereof, or the interest thereon, or in
<br />the performance of any covenants hereinafter set forth or in said Promissory Note or LOAN CONTRACT,
<br />then upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after
<br />advertising notice of said sale weekly for not less than four weeks in some newspaper of general
<br />circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the
<br />time of filing said notice and demand, at public auction for cash, at any proper place designated in the
<br />notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees,
<br />charges 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 GRANTOR; and after the expiration of the time of redemption, the
<br />PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the COLLATERAL sold. The
<br />BENEFICIARY may purchase said 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
<br />claims it may have in or to said COLLATERAL as a Homestead Exemption or other exemption, now or
<br />hereafter provided by law. The GRANTOR further covenants that the collateral is free and clear of all
<br />liens and encumbrances whatever and that the GRANTOR shall warrant and forever defend the
<br />
<br />Appendix 5 to Loan Contract C150154
<br />
|