C150059 Contract

• Contract/PO #: C150059
• Contractor Name: Kenosha Trout Club
• Contract Type: Loan
• Water District: 23
• County: Park
• Loan Projects - Doc Type: Contract Documents

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Deed of Trust
DATE: June 15, 2007
GRANTOR: KENOSHA TROUT CLUB
BENEFICIARY: COLORADO WATER CONSERVATION BOARD
COUNTY: PARK
PRINCIPAL LOAN AMOUNT: 286,772.12
LOAN CONTRACT: Loan Contract No. C150059, dated October 1, 2003 and
amended June 15, 2007
TERMS OF REPAYMENT: 5.50% per annum for 30 yeafS
COLLATERAL: An undivided one-hundred percent interest in the following
described property: (1) 0.2405 cfs of the 2.0 cfs decreed to the
Slaght Ditch, from the North Fork of the South Platte River for
irrigation of various lands in Park County, Colorado, with an
appropriation date of May 1, 1863 and an adjudication date of
May 22, 1913, representing a 12.85% pro rata share of the
historical consumptive use credit derived from the irrigation of
the lands historically irrigated by the Slaght Ditch that have not
heretofore been conveyed to third parties for the purpose and
with the intention of creating dry-up credit; and (2) 0.2202 cfs of
the 1.0 cfs decreed to the Mark Ditch No. 2, from the North Fork
of the South Platte River for irrigation of various lands in Park
County, Colorado, with an appropriation date of May 1, 1863 and
an adjudication date of May 22, 1913, representing a 25.00% pro
rata share of the historical consumptive use credit derived from
the irrigation of the lands historically irrigated by the Mark Ditch
No. 2 that have not heretofore been conveyed to third parties for
the purpose and with the intention of creating dry-up credit.
This indenture is between the Grantor, and the Public Trustee of the above
referenced COUNTY, State of Colorado ("PUBLIC TRUSTEE"),
FACTUAL RECITALS
1. The GRANTOR has executed a Promissory Note of even date and amount, set forth in the
LOAN CONTRACT, fOr a loan In the PRINCIPAL LOAN AMOUNT t0 be repaid t0 the BENEFICIARY,
with TERMS of REPAYMENT and in accordance with the Promissory Note or until loan is paid
in full.
2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest
Of S81d PrOn11SSOry Note t0 the BENEFICIARY.
The GRANTOR, in consideration of the premises and for the purpose aforesaid, does
hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the
above described COLLATERAL.
To have and to hold the same, together with all appurtenances, in trust nevertheless,
that in case of default in the payment of said Promissory Note, or any part thereof, or the
interest thereon, or in the performance of any covenants hereinafter set forth or in said
Promissory Note or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and
Appendix C to Loan Contract C150059 Amendment No. 1