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.,
<br />M
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />TERMS OF REPAYMENT:
<br />COLLATERAL:
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<br />Boulder County Clerk, CO
<br />Deed of Trust
<br />January 14, 2012
<br />BIG ELK MEADOWS ASSOCIATION
<br />COLORADO WATER CONSERVATION BOARD
<br />BOULDER
<br />$272,700
<br />Loan Contract No. C150327, dated January 14, 2012
<br />4.50% per annum for 30 years
<br />An undivided one - hundred percent interest in the E '/2 of the N Y2 of
<br />the N '/2 of Section 2, T3N, R72W of the a Principal Meridian,
<br />located in Boulder County, Colorado, containing 40 acres of land.
<br />This indenture is between the Grantor, and the Public Trustee of the above referenced
<br />COUNTY, State of Colorado ( "PUBLIC TRUSTEE "),
<br />FACTUAL RECITALS
<br />1. The GRANTOR has executed a Promissory Note of even date and amount, set forth in the LOAN
<br />CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with
<br />TERMS OF REPAYMENT and in accordance with the Promissory Note or until loan is paid in full.
<br />2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of
<br />said Promissory Note to the BENEFICIARY.
<br />The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby
<br />grant, bargain, sell and convey unto the said PUBLIC TRUSTEE 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 covenants hereinafter set forth or in said Promissory Note or
<br />LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, 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 COUNTY, shall sell said COLLATERAL in the manner provided
<br />by law in effect at the time of fining said notice and demand, at public auction for cash, at any proper
<br />place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall
<br />retain or pay first all fees, charges and costs and all moneys advanced for taxes, insurance and
<br />assessments, or on any prior encumbrance, with interest thereon and pay the principal and interest
<br />due on said Promissory Note, rendering the overplus, if any, unto the GRANTOR; and after the
<br />expiration of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser
<br />a deed to the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part
<br />thereof at such sale.
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of
<br />the COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and
<br />convey the same in the manner and form as aforesaid. The GRANTOR fully waives and releases all
<br />Appendix 5 to Loan Contract C150327
<br />Page 1 of 3
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