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<br />265789 B-548 P-375 1 0/04/1999 02:26P PG 1 OF 3 REC DOC NOT
<br />Nancy R Amick State of Colorado County of Rio Blanco15.00 0.00
<br />Deed of Trust
<br />This indenture, made this 1 day of September 1999, between the Town of Rangely, whose address
<br />is 209 East Main Street, Rangely, Colorado, 81648, hereinafter referred to as GRatvroR, and the Public Trustee
<br />of the County of Rio Blanco, State of Colorado, hereinafter referred to as Pua��c TRUSTEE,
<br />Witnesseth, that whereas, GRANTOR has executed a promissory note, set forth in Contract No.
<br />C153388, dated August 1, 1982, as amended, ("Contract"), for a loan in the principal sum of 5150,000.00,
<br />to be repaid to the STATE OF COLORADO for the use and benefit of the Department of Natural Resources,
<br />Water Conservation Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado, 80203,
<br />payable in 40 annual installments, in accordance with said Promissory Note, or until loan is paid in full.
<br />And whereas th6 GRANTOR is desirous of securing payment of the principal and interest of said
<br />Promissory Note to the State of Colorado.
<br />Now, therefore, the GRANTOR in consideration of the premises and for the purpose aforesaid, does
<br />hereby grant, bargain, sell and convey unto the said Pus��c TRUSTEE in trust forever, to wit:
<br />A one hundred percent (100%) undivided interest in the following described components of the Town
<br />of Rangely's water supply system, located in Rio Blanco County, Colorado:
<br />1. A 7 500-gpm-capacity raw water pump station with all necessary fittings, valves, and other related
<br />appurtenances.
<br />2. An 8-foot by 16-foot building with an overhead monorail, pump column, pipes and shaft
<br />extensions.
<br />3. A 2575-foot, 12-inch raw water transmission line with all necessary fittings, valves, and other
<br />appurtenances from station —2+32 to station 23+43.
<br />4. A 10,448-foot, 12-inch treated water transmission line with all necessary fittings, valves, and
<br />other appurtenances from station 0+00 to station 39+50 and from station 0+00 to station
<br />64+98.
<br />5. One steel water storage tank, 500,000-gallon capacity.
<br />6. A 1,100,000-gallons presedimentation pond with all necessary fittings, valves and other related
<br />appurtenances, to include the inlet and outlet control systems.
<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
<br />thereunto belonging: In Trust nevertheless, that in case of default in the payment of said note, or any part
<br />thereof, or in the payment of the interest thereon, according to the tenor and effect of said note o� in the
<br />payment of any prior encumbrances, principal or interest, if any, or in case default shall be made in or in case
<br />of violation or breach of any of the terms, conditions, covenants or agreements contained in the Contract, the
<br />beneficiary hereunder may declare a violation of any of the covenants contained in the Contract and elect to
<br />advertise said Property for sale, and demand such sale by filing a notice of such election and demand for sate
<br />with the Pueuc TRUSrEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE shall
<br />cause a copy of the same to be recorded in the recorder's office of the county in which said Property is
<br />situated, it shall and may be lawful for the PuBUC TRUSrEE to sell and dispose of the same len masse or in
<br />separate parcels, as the said PuB�ic TRUSTEE may think bestl, and all the right, title and interest of the
<br />GRANTOR its successors or assigns therein, at public auction at such time and at such location as shall be
<br />designated in the PUBLIC TRUSTEE 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
<br />each week for five consecutive weeks, in some newspaper of general circulation at that time published in said
<br />County of Rio Blanco, a copy of which notice shall be mailed within ten days from the date of the first
<br />publication thereof to the GRaN7oR at the address herein given and to such person or persons appearing to
<br />have 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 seat,
<br />and to make and give to the purchaser of the Property at such sale, a certificate in writing describing the
<br />Property purchased, and the sum paid therefor, and the time when the purchaser (or other person entitled
<br />thereto) shall be entitled to the deed therefor, unless the same shall be redeemed as is provided by law; and
<br />SBid PUBLIC TRUSTEE shall, upon demand by the person holding the said certificate of purchase, when said
<br />demand is made, or upon demand by the person entitled to a deed to and for the Property purchased, at the
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