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<br />i ®„~ ti RECDhDF~D Ihl JEFFf:F'~Dhl CDIJhI'TY, f.01._fJRA))0
<br />Amended Deed of Trust
<br />Originally recorded on December 28, 1999, Reception No. P0996885, 5 pages
<br />1~ This indenture, made this ~~ day of Piz i c.- 2000, between The Consolidated `~
<br />~`" Mutual Water Company, a Colorado nonprofit corporation, whose address is P.O. Box 150068,
<br />Lakewood, Colorado 80215, hereinafter referred to as GRANTOR, and the Public Trustee of the County
<br />of Jefferson, State of Colorado, hereinafter referred to as PuBUC TRUSTEE,
<br />Witnesseth, that whereas, GRANTOR has executed a Promissory Note, which is a part of
<br />Contract No. C150011, as amended by Contract Amendment No. 1 (the Contract) for a loan in the
<br />principal sum of Sixteen Million Three Hundred Thousand Dollars ($16,300,000) to be repaid to the
<br />STATE OF COLORADO or the use and benefit of the Department of Natural Resources, Water
<br />Conservation Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203,
<br />payable in 10 annual installments, in accordance with the terms of the Promissory Note, or until the
<br />loan is paid in full. This deed of trust is amended to reflect a total loan amount of $16,300,000.
<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest of
<br />said promissory note to the State of Colorado.
<br />Now, therefore, the GRANTOR, in consideration of the premises and for the purpose aforesaid,
<br />does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, to wit: an
<br />undivided one hundred percent (100%) interest in 2,841/40 shares in The Agricultural Ditch and Reservoir
<br />Company evidenced by Certificate No. 5803. The shares represent the Grantor's pro rata interest in the
<br />water rights described in attached Exhibit A, 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
<br />thereunto belonging: In Trust nevertheless, that in case of default in the payment of said note, or any
<br />part thereof, or in the payment of the interest thereon, according to the tenor and effect of said note or
<br />in the payment of any prior encumbrances, principal or interest, if any, or in case default shall be made
<br />in or in case of violation or breach of any of the terms, conditions, covenants or agreements contained
<br />in the Contract, the beneficiary hereunder may declare a violation of any of the covenants contained in
<br />the Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of
<br />such election and demand for sale with the PuBiIC TRUSTEE. Upon receipt of such notice of election
<br />and demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the
<br />recorder's office of the county in which said Property is situated, it shall and may be lawful for the
<br />PUBLIC TRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC
<br />TRUSTEE may think best), and all the right, title and interest of the GRANTOR, its successors or assigns
<br />therein, at public auction at such time and at such locaticn as shall be designated in tl.e PuBr_IC
<br />TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in cash, four weeks public
<br />notice having been previously given of the time and place of such sale, advertisement once each week
<br />for five consecutive weeks, in some newspaper of general circulation at that time published in said
<br />county, a copy of which notice shall be mailed within ten days from the date of the first publication
<br />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 Property at the address given in the recorded instrument;
<br />where only the county and state is given as the address then such notice shall be mailed to the county
<br />seat, and to make and give to the purchaser of the Property at such sale, a certificate in writing
<br />describing the Property purchased, and the sum paid therefor, and the time when the purchaser (or
<br />other person entitled thereto) shall be entitled to the deed therefor, unless the same shall be redeemed
<br />as is provided by law; and said Pue~IC TRUSTEE shall, upon demand by the person holding the said
<br />certificate of purchase, when said demand is made, or upon demand by the person entitled to a deed
<br />to and for the Property purchased, at the time such demand is made, the time for redemption having
<br />Attachment 3 to Contract C150011 Amendment No. 1
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