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Deed of Trust
<br />�r ri 1 ?012
<br />DATE: January 12, 2007 pU
<br />Being re- recorded GRANTOR: TOM C. HILL GRAND RUST I
<br />to correct legal. BENEFICIARY: COLORADO WATER CONSERVATION BOARD C0UN1Y
<br />COUNTY: GRAND
<br />PRINCIPAL LOAN AMOUNT: $862,540
<br />LOAN CONTRACT: Loan Contract No. C150233, dated January 12, 2007
<br />TERMS OF REPAYMENT: 2.50% per annum for 30 years
<br />COLLATERAL: A second lien, behind tl
<br />Bank, on all water rights
<br />located in Grand County,
<br />B, attached hereto.
<br />le existing lien of Grand Mountain
<br />now owned and hereafter acquired
<br />Colorado, as described in Schedule
<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
<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 above
<br />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 of
<br />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 Sold. The BENEFICIARY may purchase said COLLATERAL or any part thereof at such
<br />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 />bargain, sell and convey the same in the manner and form as aforesaid. The GRANTOR fully
<br />Appendix 3 to Loan Contract C150233
<br />RECEPTION #: 2007011130,10/03/2007 at Page 1 of 2 RECEPTION #: 2007002931, 03/1512007 at
<br />12:56:35 PM, 01:48:13 PRA,
<br />1 OF 3, R $16.00 Doc Code:DT 1 OF 9, R $46.00 Doc Code:DT
<br />Sara L. Rosene, Grand County Clerk, Sara L. Rosene, Grand County Clerk,
<br />Colorado Colorado
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