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<br />Deed of Trust
<br />DATE: SEPTEMBER 21, 2009
<br />Gw�t�rroR: Buli Creek Reservoir Canal 8� Power Company
<br />BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br />COUNTY: MESA
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />TERMS OF REPAYMENT:
<br />COLLATERAL:
<br />$1,456,218
<br />Loan Contract No. C150240, dated June 1 S, 2007 and
<br />8f1'1@t1d@CI SEPTEMBER 21, 2009
<br />2.5096 per annum for 30 years
<br />An undivided one-hundred percent interest in the Grantor's
<br />water rights, as further described in the table attached hereto
<br />and incorporated herein as Exhibit 1.
<br />This indenture is between the Grantor, and the Public Trustee of the above
<br />referenced CouN�nr, State of Colorado (°PUBLIC TRUSTEE"),
<br />FACTUAL RECITALS
<br />1. The M�►t�R has executed a Promissory Note of even date and amount, set forth in the
<br />LonN CONTRACT, for a loan in �I'1e PRINCIPAL LOAN AMOUNT to be repaid to the
<br />BENEFICIARY, Wlt%1 TERMS OF REPAYMENT BnCI 111 8CC01'CIat1C@ WItI'1 ti1@ PrOt111SS01'jl NOt@
<br />or unbl loan is paid in full.
<br />2. The Gw�►NroR is desirous of securing payment of the PRiNCiP� LoAN AnnouNT and
<br />interest of said Promissory No� to the BENEFicu�tY.
<br />The G�oR, in consideration of the premises and for the purpose aforesaid,
<br />does hereby grant, bargain, sell and convey unto the said Pusuc TRUSTEE in trust forever,
<br />the above described Co�v►�w►�.
<br />To have and to hold the same, together with all appurtenances, in trust
<br />nevertheless, that in case of default in the payment of said Promissory Note, or any part
<br />thereof, or the interest thereon, or in the performance of any covenants hereinafter set
<br />forth or in said Promissory Note or Lont� CoNTwacT, then upon the BENEFicinRY filing
<br />notice of election and demand for sale, S81d PUBUC TRUSTEE, after advertising notice of
<br />said sale weekly for not less than four weeks in some newspaper of general circulation in
<br />said Cour�, shall sell said Ca.u�TEw� in the manner provided by law in effect at the
<br />time of filing said notice and demand, at public auction for cash, at any proper place
<br />designated in the notice of sale. Out of the proceeds of said sale, U1@ PUBLIC TRUSTEE
<br />shall retain or pay first all fees, charges and costs and all moneys advanced for taxes,
<br />insuranve and assessments, or on any prior encumbrance, with interest thereon and pay
<br />the prinapal and interest due on said Promissory Note, rendering the overplus, if any,
<br />unto the G�oR; and after the expiration of the time of redemption, 1'h@ PUBLIC TRUSTEE
<br />shall execute and deliver to the purchaser a deed to the Co�u�rERn� sold. The
<br />BENEFic�tY may purchase said Co��►TEw�. or any part thereof at such sale.
<br />The GwwTOR covenants that at the tlme of the delivery of these presents, it is v�ll
<br />seized of the Co�u�rEwu. in fee simple, and has full pow�er and lawful authority to grant,
<br />Appendix D to Loan Contract C150240 Amendment No. 1
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