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<br />Beception #: 1166275 Date: 04/25/199'7• Ti~e: 1212 Book: 2991 Paqe: 63 Chris C. llunoz
<br />Inst: TD R Fee: 10.00 D Fee: 0.00 SC: 1.00 Pg: 1 of 2 Pueblo Co.Clk.&Rec.
<br />Deed of Trust
<br />This indenture, made this 24th day of March 1997, between C. R. Eva~whose address is 231 Nyberg Road, Pueblo, CO
<br />81006, hereinafter referred to as Gwu~oR, and the Public Trustee of the County of Pueblo, State of Colorado, hereinafter
<br />refeRed to as Pusuc TRUS~E,
<br />Witnesseth, that whereas, G~'roR has executed a promissory note, which is a part of Loan Contract #153748
<br />("ContracY') for a loan in the principal sum of $100,000 to be repaid to the STATE OF COLORADO for the use and benefit of the
<br />Department of Natural Resources, Water Conservation BQard, whose address is 1313 Shertnan Street, Room 721, Denver,
<br />Colorado 80203, with interest thereon from the date of first disbursement of funds under the Contract at the effective interest rate
<br />of 3'/.% per annum, payable in 30 annual installments, in accordance with the Promissory Note which is a part of said Contract,
<br />or until loan is paid in full.
<br />And whereas, the G~oR is desirous of securing payment of the principal and interest of said promissory note to the State
<br />of Colorado.
<br />Now, therefore, the G~rvroR, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain,
<br />sell and convey unto the said Pusuc TRUS~e in trust forever, to wit: 2,883 shares of stock of the Excelsior Irrigating Company,
<br />ewnsd by~ ~.R. Ee~ans, as evi~+~r.ced by Certifi~.~±e hum"~sr 5 f~r 1,OQ7 shares an~ C~rt~cate R::mber S fo~ 1,Q7S sha~ ~s.
<br />(collectively or hereinafter referred to as the "Property").
<br />To have and to hold the same, together with all and singular the privileges and appurtenances thereunto belonging: In
<br />Trust nevertheless, that in case of default in the payment of said note, or any part thereof, or in the payment of the interest
<br />thereon, according to the tenor and effect of said note or in the payment of any prior encumbrances, principal or interest, if any, or
<br />in case default shall be made in or in case of violation or breach of any of the terms, conditions, covenants or agreements
<br />contained in the Contract, the beneficiary hereunder may declare a violation of any of the covenants contained in the Contract
<br />and elect to advertise said Property for sale, and demand such sale by filing a notice of such election and demand for sale with
<br />the Pusuc TRUSTeE. Upon receipt of such notice of election and demand for sale, the Puauc TRUS~e shall cause a copy of the
<br />same to be recorded in the recorders office of the county in which said Property is situated, it shall and may be lawful for the
<br />Pusuc TRUSreE to sell and dispose of the same (en masse or in separate parcels, as the said Pusuc TRUSrEE may think best),
<br />and all the right, tiUe and interest of the GwwroR, its successors or assigns therein, at public auction at such time and at such
<br />location as shall be designated in the Pusuc TRUSrE~'s Notice of Sale, for the highest and best price the same will bring in cash,
<br />four weeks public notice having been previously given of the time and place of such sale, advertisement once each week for five
<br />consecutive weeks, in some newspaper of general circulation at that time published in said County of Pueblo, a copy of which
<br />notice shall be mailed within ten days from the date of the first publication thereof to the Gw4nrroR at the address herein g9ven ~nd
<br />to such person or persons appearing to have acquired a subsequent record interest in said Property at the address given in the
<br />recorded instrument; where only the counly and state is given as the address then such notice shall be mailed to the county seat,
<br />and to make and give to the purchaser of the Property at such sale, a certificate in writing describing the Properly purchased, and
<br />the sum paid therefor, and the time when the purchaser (or other person entitled thereto) shall be entitled to the deed there€or,
<br />unless the same shall be redeemed as is provided by law; and said Pusuc TRUS~E shall, upon demand by the person holding
<br />the said cefificate of purchase, when said demand is made, or upon demand by the person enfiUed to a deed to and for the
<br />Property purchased, at the time such demand is made, the fime for redemption having expired, make and execute to such person
<br />a deed to the Property purchased, which said deed shall be in the ordinary form of a conveyance, and sha!I oe signeu,
<br />acknowledged and delivered by the said Pusuc TR~e and shall convey and quitclaim to such person entitled to such cleed, the
<br />Prooerty ourchased as aforesaid and all the right, title, interest, benefit and equity of redemption of the G~oa, its successors
<br />and assigns made therein, and shall recite the sum for which the said Property was sold and shali refer to ihe power of safe
<br />therein contained, and to the sale made by virtue thereof; and in case of an assignment of such certificate of purchase, or in case
<br />of the redemption of the Property, by a subsequent encumbrancer, such assignment or redemption shall also be refeRed to in
<br />such deed; but the notice of sale need not be set out in such deed and the Pusuc TRUSrEe shall, out of the proceeds or avails of
<br />such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary hereunder the
<br />principal and interest due on said note according to the tenor and effect thereof, and all moneys advanced by such beneficiary or
<br />legal holder of said note for insurance, taxes and assessments, with interest thereon at ten per cent per annum, rendering the
<br />surplus, if any, unto the Gwar~TOR, its legal representatives or assigns; which sale and said deed so made shall be a perpetual
<br />bar, both in law and equity, against the G-~aNroR, its successors and assigns, and all other persons claiming the Properly, or any
<br />part thereof, by, from, through or under the Gw~nrroR, or any of them. The holder of said note may purchase Property or any paR
<br />thereof; and it shall not be obligatory upon the purchaser at any such sale to see to the applica6on of the purchase money.
<br />And the GRarvTOR, for itself and its successors or assigns covenants and agrees to and with the Pusuc TRUSrEE, that at the
<br />time of the unsealing of and delivery of these presents, it is well seized of the Property in fee simple, and has. ~ood right, full
<br />power and lawful authoriry to grant, bargain, sell and convey the same in the manner and form as aforesaid; he~eby fully and
<br />absolutely waiving and releasing all rights and claims it may have in or to said Property as a Homestead Exemption, or other
<br />exemp6on, under and by virtue of any act of the General Assembly of the State of Colorado, or as any exe:nption ufider and ~y
<br />virtue of any act of the United States Congress, now existing or which may hereafter be passed in relatio~ thereto and that the
<br />same is free and clear of all liens and encumbrances whatever, and the above bargained Property in the ~u~et and peacea~e
<br />possession of the Pueuc TRUSrEE, its successors and assigns, against all and every person or persons lawfi.~!ly ciaimi~~g cr to
<br />claim the whole or any part thereof, the GRarvTOR shall and will Wamant and Forever Defend.
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<br />Appendix D to Loan Contract #C153748
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