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S9:372_1 <br />�. i`t19? j of 4 <br />`.t+t111'!�'P Clerk � Recorder, <br />F(uerfuno County, C.tj RP s i.00i <br />.48, Phi Recording Fee $26. co <br />DATE: <br />GRANTOR: <br />BENEFICIARY: <br />COUNTY: <br />PRINCIPAL LOAN AMOUNT: <br />LOAN CONTRACT: <br />TERMS OF REPAYMENT: <br />COLLATERAL: <br />Deed of Trust <br />March 5, 2012 <br />Two RIVERS FARMS F -2, LLC <br />COLORADO WATER CONSERVATION BOARD <br />HUERFANO <br />$1,184,882 <br />Loan Contract No. C150328A, dated March 5, 2012 <br />2.50% per annum for 20 years <br />An undivided one - hundred percent interest in the Orlando Reservoir <br />#2 water rights more particularly described in Exhibit A attached <br />hereto. <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 filing 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 />Appendix 5 to Loan Contract C150328A <br />Page 1 of 3 <br />