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539924
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<br />Carol Tullis Montezuma CountyDTCO R 11.00 04/28J 00 O � P
<br />Deed of Trust
<br />DaTE: December 20, 2005
<br />GRANTOR: NUMBER SIX DITCH COMPANY
<br />BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br />COUNTY: MONTEZUMA
<br />PRINCIPAL LOAN AMOUNT: �6HH
<br />LoaN CoNTwacT: Loan Contract No. C150205, dated December 20, 2005
<br />TERMS OF REPAYMENT: 2.50% per annum for 30 years
<br />Cou.ATERa�: An undivided 100 percent interest in any rights to the Number Six Ditch that
<br />the Grantor holds, including approximately 22,000 feet of pipeline
<br />commencing at diversion structure no. 506, and any easements, rights-of-
<br />way, or other property or property interests held and used in connection with
<br />the access and operation of said ditch/pipeline which is located in the SW'/ of
<br />Section 29 and the N%2 and SW'/ of Section 31, Township 36 North, Range
<br />13 West, N.M.P.M., and in the SE'/< of Section 36, Township 36 North,
<br />Range 14 West, N.M.P.M., Montezuma County, Colorado.
<br />This indenture is between the Grantor, and the Public Trustee of the above referenced Coutvnr,
<br />State of Colorado (" PUBLIC TRUSTEE
<br />FACTUAL RECITALS
<br />The G�,NTOR has executed a Promissory Note of even date and amount, set forth in the Loan�
<br />CONTRACT for a loan Itl the PRINCIPAL LOAN AMOUNT t0 b@ t'epald t0 the BENEFICIARY, Wlth TERMS OF
<br />REPaYMENT and in accordance with the Promissory Note or until loan is paid in full.
<br />The GRarvTOR is desirous of securing payment of the PRirvciPa� LoAtv AMOUNT and interest of said
<br />Promissory Note to the BENEFiciARY.
<br />The Gr�arvTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant,
<br />bargain, sell and convey unto the said PuB�ic TRUSTEE in trust forever, the above described Co�v�TEw�.
<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 Loaiv CoNTr�acT,
<br />then upon the BErvEFiciaRY filing notice of election and demand for sale Sald 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 Courvr�r, shall sell said Co��aTEw�� in the manner provided 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 the 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 Gwo,rvTOR; 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 111ay pUl'ChaS@ Sald COLLATERAL O� aCly p8('t tI121'eOf 8t SUCh Sal@.
<br />The GRaNroR covenants that at the time of the delivery of these presents, it is well seized of the
<br />Co��nTERa,� 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 Gt�arvTOR fully waives and releases all rights and claims
<br />it may have in or to said Co��aTERa� as a Homestead Exemption or other exemption, now or hereafter
<br />provided by law. The GRaNroR further covenants that the collateral is free and clear of all liens and
<br />encumbrances whatever and that the Gw�NTOR shall warrant and forever defend the Co�u�TE� in the
<br />Appendix 5 to Loan Contract C150205
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