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<br />823233 12/17/2004 10:48A B1198 P664 F. JOHNSON
<br />1 of 2 R 11.00 D 0.00 Mor�an County, CO
<br />Deed of Trust
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />August 1, 2004
<br />3T CATTLE COMPANY, INC.
<br />COLORADO WATER CONSERVATION BOARD
<br />���0�
<br />���.�; �Q �,�
<br />MORGAN
<br />$231,795
<br />Loan Contract No. C150175 dated August 1, 2004
<br />TERMS OF REPAYMENT: 2.50% per annum for 30 years
<br />COLLATERAL: An undivided one-hundred percent interest in five shares of stock in
<br />Weldon Valley Ditch Company, certificate # 11qy , the shares
<br />represent Grantor's pro rata interest of 60 acre-feet of water per share in
<br />the rights decreed in Case No. 433 in Weld County District Court,
<br />November 21, 1895, Appropriation Date of October 26, 1881 for 165 cfs.
<br />This indenture is between the Grantor, and the Public Trustee of the above referenced CouNN,
<br />State of Colorado (" PUBLIC TRUSTEE
<br />FACTUAL RECfTALS
<br />1. The Gt�a►vTOR has executed a Promissory Note of even date and amount, set forth in the Loatv
<br />CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with TERMS OF
<br />REPAYMENT and in accordance with the Promissory Note or until loan is paid in full.
<br />2. The G�tvTOR is desirous of securing payment of the PR�tvc�PA� LoaN AnnouNT and interest of said
<br />PI'OfT11SSOry NOte t0 the BENEFICIARY.
<br />The Gr�a,tvTOR, in consideration of the premises and for the purpose aforesaid, does hereby
<br />grant, bargain, sell and convey unto the said Pusuc TRUSTEE in trust forever, the above described
<br />COLLATERAL.
<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 CoNTr�cT,
<br />then upon the BENEFtciARY 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 CouNN, shall sell said Co�vaTE�,� 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 PuB��C 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 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 SOId. The
<br />BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale
<br />The Gw�rvTOR 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 Gt�NTOR fully waives and releases all rights and claims
<br />it may have in or to said Co��aTE�� as a Homestead Exemption or other exemption, now or hereafter
<br />Appendix 4 to Loan Contract C150175
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