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• � <br />Sequence No. 1116 <br />43.21 Acre feet, Appropriated 04/01/1951 <br />This indenture is befinreen the Grantor, and the Public Trustee of the above <br />referenced Coutvnr, State of Colorado ("Pueuc TRUS��"), <br />FACTUAL RECITALS <br />1. The MAKER has executed a Promissory Note of even date and amount, set forth in <br />th@ LOAN CONTRACT, fOr a IOall 1� th@ PRINCIPAL LOAN AMOUNT t0 b@ I'@p81d t0 th@ <br />BENEFICIARY, Wl�h TERMS OF REPAYMENT a�d Iil aCC01'danCe Wl�h the PfOR11SS01'�/ <br />Note or until loan is paid in full. <br />2. The GRaniTOR is desirous of securing payment of the PRiNCiPA� LonN An�ouNT and <br />interest of said Promissory Note to the BENEFiciaRY. <br />The Gt�roR, in consideration of the premises and for the purpose aforesaid, <br />does hereby grant, bargain, sell and convey unto the said Pusuc TRUS�E in trust <br />forever, the above described Co�v�TEw�►�. <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 <br />part thereof, or the interest thereon, or ir� the performance of any covenants <br />hereinafter Set forth or in said Promissory Note or LoAN Co�ncT, then upon the <br />BENEFiciARY filing notice of election and demand for sale, said Pus��c TRUS�E, after <br />advertising notice of said sale weeky for not less than four weeks in some newspaper <br />of general circulation in said Counmr, shall sell Sald COLLATERAL in the manner <br />provided by law in effect at the time of filing said notic:e and demand, at public auction <br />for cash, at any proper place designated in the notice of �ale. Out of the proceeds of <br />said sale, the PuB�ic TRUS�E shall retain or pay first all fees, charges and costs and <br />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 <br />Promissory Note, rendering the overplus, if any, unto the Gwa�vTOR; and after the <br />expiration of the time of redemption, the PuBUC TRUS�E shall execute and deliver to <br />the purchaser a deed to the Couar�Rn� sold. The BENEFtcu�tY may purchase said <br />Cou.A�Rn� or any part thereof at such sale. <br />The Gw�NTOR covenants that at the time of the delivery of these presents, � is <br />well seized of the Co�w�� in fee simple, and has full power and lawful authority to <br />grant, bargain, sell and convey the same in the manner and form as aforesaid. The <br />GRnNroR fully waives and releases all rights and claims it may have in or to said <br />COLLATERAL as a Homestead Exemption or other exemption, novV or hereafter <br />provided by law. The GRaNTOR further covenants that the collateral is free and clear of <br />all liens and encumbrances whatever and that the G�NTOR sh�ll warrant and forever <br />defend the CouATERn� in the quiet and peaceable possession of the PuBUC TRUSrEE, <br />its successors and assigns, against all and every person or persons lawfully claiming <br />or to claim the whole or any part thereof. <br />Until payment in full of the indebtedness, the GwvvroR shall timely pay all taxes <br />and assessments levied on the Cou.n�rv��; any and all amounts due on account of <br />the principal and interest or other sums on any senior encumbrances, if any; and witl <br />keep the COLLATERAL insured in accordance with the requirements of the LonN <br />Cot�w�►cT. In the event of the sate or transfer of the CouATEt�►�, th8 BENEFICIARY, at <br />its option, may declare the entire balance of the note immediately due and payable. <br />Appendix 6 to Loan Contract C15240 <br />