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� . <br />Sequence No. 1116 <br />43.21 Acre feet, Appropriated 04/01/1951 <br />This indenture is between the Grantor, and the Public Trustee of the above <br />referenced CouN�, State of Colorado ("PUBLIC TRUSTEE"), <br />FACTUAL RECITAI.S <br />5. The MA�R has executed a Promissory Note of even date and amount, set forth in <br />the Loav CoN�cT, for a loan in the PRiNCiPa� LoAN �AMOUNT to be repaid to the <br />BENEFICIARY, Wl�h TERMS OF REPAYMENT a11d 1� aCCOrda�Ce Wlth th@ P�01111SSOfy <br />Note or until loan is paid in full. <br />6. The GRa�'roR is desiro�s of securing payment of the PRnvciPA� LonN Annot�NT and <br />interest of said Promissory Note to the BENEFicia�Y. <br />The Gw�+wTOR, in consideration of the premises and for the purpose aforesaid, <br />does hereby grant� bargain, sell and convey unto the said PuBUC TRUS�E in trust <br />forever, the above described Cow�►TEw►�. <br />To have and to hold the same, together with all appurtenanoes, in trust <br />nevertheless, that in case of defauft in the payment of said Promissory Note, or any <br />part thereof, or the interest thereon, or in the performance of any covenants <br />hereinafter set forth or in said Promissory Note or Loa� Cor��cT, then upon the <br />B�N�Ficta�Y filing notice of election and demand for sale, Sald PUBI.IC TRUSTEE, after <br />advertising notice of s�id sale weekly for not less than four weeks in some newspaper <br />of general circulation in said CouN�r, shall sell said CouA�wt� in the manner <br />provided by law in effect at the time of filing said notice and demand, at public auction <br />for cash, at any proper place designated in the notice oi' �ale. Out of the proceeds of <br />said sale, the PuBUC 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 />�ncumbrance, with interest thereon and pay the principal and interest due on said <br />Promissory Note, rendering the overplus, if any, unto the Gw�►NTOR; and �fter the <br />expira#ion of the time of redemption, the Pusuc TRUS�E shall execute and deliver to <br />the purchaser a deed to the CouATEw►� sold. The BEtvEFiciARY may purchase said <br />CouA�w� or any part thereof at such sale. <br />The Gw�►nrroR covenants that at the time of the delivery of these presents, it is <br />well seized of the Cowe►�wu. in fee simple, and has full power and lawful authority to <br />grant, bargain, sell and convey tt�e same in the manner and form as aforesaid. The <br />Gw�TOR fully waives and releases all rights and claims it may have in or to said <br />CouArEw�� as a Homestead Exemption or other exemption, now or hereafter <br />provided by law. The Gw�vTOR further covenants that the collateral is free and olear of <br />all liens and encumbrances whatever and that the GwWTOR shall warrant and forever <br />defend the Cow►T�Ra� in the quiet and peaceabl� possession of the Pusuc TRUSr��, <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 G�TOR shall timely pay all taxes <br />and assessments levied on the Co�u��w��; any and all amounts due on account of <br />the principal and interest or other sums on any senior encumbrances, if any; and will <br />keep the CouA�w�t. insured in accordance with the requirements of the LOAN <br />Cot�rr�►cr. In the event of the sale or transfer of the Co�,tAT�t�, U1e BENEFICIARY, at <br />its option, may declare the entire balance of the note immediately due and pa�able. <br />Appendix 12 to Loan Contract �15240 <br />