|
RECEPTION #: 795546,10103/2008 at
<br />. 02:06:30 PM, 1 OF 2, DT R $11.00
<br />FRA,NCINE TIPTON -LONG, MONTROSE
<br />COUNTY, CO CLERK AND RECORDER
<br />Deed of Trust
<br />DATE: May 30, 2008
<br />GRANTOR: TOM C. HILL
<br />BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br />COUNTY: A- 0hfrcy.
<br />PRINCIPAL LOAN AMOUNT: $862,540
<br />LOAN CONTRACT: Loan Contract No. C150233, dated January 12, 2007 and
<br />amended May 30, 2008
<br />TERMS OF REPAYMENT: 2.00% per annum for 10 years
<br />COLLATERAL: An undivided one - hundred percent interest in the following
<br />real property located in Montrose County: the Southwest %
<br />of the Southeast % and the Southeast % of the Southwest
<br />'/, Section 23, Township 50 North, Range 11 West,
<br />N.M.P.M.
<br />This Indenture is between the Grantor, and the Public Trustee of the above
<br />referenced COUNTY, State of Colorado CPUBLIC TRUSTEE"),
<br />,,,,FACTUAL RECITALS
<br />1. The GRANTOR has executed a Promissory Note of even date and amount, set forth in the
<br />LOAN CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY,
<br />with TERMS OF REPAYMENT and in accordance with the Promissory Note or until loan is paid
<br />in full.
<br />2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest
<br />of said Promissory Note to the BENEFICIARY.
<br />The GRANTOR, in consideration of the premises and for the purpose aforesaid, does
<br />hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the
<br />above described COLLATERAL.
<br />To have and to hold the same, together with all appurtenances, in trust nevertheless,
<br />that in case of default in the payment of said Promissory Note, or any part thereof, or the
<br />interest thereon, or in the performance of any covenants hereinafter set forth or in said
<br />Promissory Note or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and
<br />demand for sale, said PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less
<br />than four weeks in some newspaper of general circulation in said COUNTY, shall sell said
<br />COLLATERAL in the manner provided by law in effect at the time of filing said notice and
<br />demand, at public auction for cash, at any proper place designated in the notice of sale. Out
<br />of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and
<br />costs and 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 Promissory
<br />Note, rendering the overplus, if any, unto the GRANTOR; and after the expiration of the time of
<br />redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the
<br />COLLATERAL soli. The BENEFICIARY may purchase said COLLATERAL or any part thereof at
<br />such sale.
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well
<br />seized of the COLLATERAL in fee simple, and has full power and lawful authority to grant,
<br />Appendix D to Loan Contract C160233 Amendment No. 1
<br />
|