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268028 <br />4!6/10 2:47 PM B: 419 P: 0399 <br />Dolores Burns Costilla County Recorder Page 1 of 3 <br />DT Rec Fee: 16.00 DocFee: $0.00 <br />���� ����1�111�����1��1'�Il�f1��� ��.�'����'1� 1� ��� <br />Deed of Trust <br />DnT�: March 1, 2010 <br />GRANTOR: TRINCHERA IRRfGATION COMPANY <br />BENEFICIARY: COLORADO WATER CONSERVATION BOARD <br />COUNTY: COSTILLA <br />PRINCIPAL LOAN AMOUNT: $606,000 <br />LoAtv CoN�cT: Loan Contract No. C150303, dated March 1, 2010 <br />TERMS OF REPAYMENT: 2.75% per annum for 30 years <br />Co��.nzEt�n�: An undivided one-hundred percen# interest in the Smith Reservoir <br />water rights, tegai description as fotlows: 5,000 acre-feet, source <br />being Trinchera Creek, tocatect in District 35, appropriation date <br />4/8/1911, decretal order dated 1/4/1915. <br />This indenture is between the Grantor, and the Public Trustee of the above referenced <br />Cou�, State of Colorado ( ° PUBLIC TRUSTEE <br />FACTUAL RECITALS <br />3. The Gt�n�rroR has executed a Promissory Note of even date and amount, set forth in the Loav <br />CONTRACT, for a IOan in tl'1e PRINCIPAL LOAN AMOUNT to b@ fe�ld to tll@ BENEFICIARY, Wlth <br />TERMS oF REPAYw�En� and in accordance with the Promissory Note or urrtil loan is paid in full. <br />4. The Gr�NTOR is desirous of securing payment of the PRiNC�PA� Lo� An�ouNT and in#erest of <br />said Promissory Note to the BENEFiciaRY. <br />The Gt�4n�oR, in consideration af the premises and for the purpose aforesaid, does hereby <br />grar�t, bargain, sell and convey urtto the said PuBUC TRUSrEE in trust forever, the above described <br />COLLATERAL. <br />To have and to hold the same, together with all appurtenances, in trust nevertheless, that <br />in case of default in the payment of said Promissory Note, or any part thereof, or the interest <br />thereon, or in the performance of any covenarrts hereinafter set forth or in said Promissory Note or <br />LOAN CONTRACT, th@11 Up011 � BENEFICIARY ftling �0�1(� Of @IeCtlOfl 8t1d d@t11at'K'td fOT S81@ said <br />PUBLIC TRUSTEE after advertising notice of said sale weekly for not less than four weeks in some <br />newspaper of general circulation in said CouNnr, shall sell said Cou�►TEtv�� in the manner provided <br />by law in effect at the #ime of filing said notice and demand, at public auction for cash, a# any proper <br />place designated in the notice of sale. Out of the proceeds of said sale, the PuBtic TRUSr�E shall <br />retain or pay first all fees, charges and costs and all moneys advanced fo� taxes, insurance and <br />assessments, or on any prior encumbranoe, with interest thereon and pay the principal and interest <br />due on said Promissory Note, rendering the overplus, if any, unto the G�oR; and after the <br />expiration of the time of redemption, the PuBUC TRUS�E shall execute and deliver to the purchaser <br />a deed to the Co�w��� sold. The BENEFiCwRY may purchase said Co�u��Ra� or any part <br />thereof at such sale. <br />The Gt�wTOR covenants that at the time of the delivery of these presents, it is well seized of <br />Appendix 6 to Loan Contract C150303 <br />' Page 1 of 3 <br />