C153682 PIF Contract

• Contract/PO #: C153682
• Contractor Name: Caryl R. Carroll
• Contract Type: Loan
• Water District: 43
• County: Rio Blanco
• Bill Number: HB 93-1273
• Loan Projects - Doc Type: Contract Documents

257485 B -524 P -9to 06/10/96 11:02A PG 1 ON' 2 REC DOC
R NANCY R. AMICK STATE OF COLORADO COUNTY OF RIO BLANCO 11.00
Re
Deed o f Trust
This t11ArMffL, made this -`day of I)OUEH&-g l , 1995, between CARYL
R. CARROLL whose address is P. 0. Box 219, Cocoa, Florida 32923 -0219, hereinafter
referred to as GRANTOR, and the Public Trustee of the County of Rio Blanco, State of
Colorado, hereinafter referred to as PUBLIC TRUSTEE,
WMWSSAI &d Nhaw, GRANTOR has executed a promissory note, set forth in
Contract #C153682 (the Contract) dated August 22, 1994, as amended, for a loan in
the amended principal sum of Seventy -Five Thousand Dollars ($75,000), to be repaid to
the STATE OF COLORADO for the use and benefit of the Department of Natural
Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room
721, Denver, Colorado 80203, with interest thereon from the date of first disbursement
of funds under the Contract at the rate of 2% per annum on the first $50,000and 3.75% annum on the remaining $25,000,
payable in 20 annual installments, or until loan is paid in full.
And N}IaW, the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to the
State of Colorado.
NON, tkCT ne, the GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant,
bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, to wit: Borrower's interest in 703.9 acre -feet of water
rights adjudicated to the DD &E Reservoir, decreed as follows: an undivided 200.4 acre -feet adjudicated 10/26/1931, priority
43A , and an undivided 503.5 acre -feet adjudicated 9/1/1960, priority 7, all of which is located in S2 & S3, T2N R92W 6PIVl,
Rio Blanco County, State of Colorado, (collectively or hereinafter referred to as the "Property ").
TO kgVI ad t0 6U the same, together with all and singular the privileges and appurtenances thereunto belonging:
In Trust nevertheless, that in case of default in the payment of said note, or any part thereof, or in the payment of the interest
thereon, according to the tenor and effect of said note or in the payment of any prior encumbrances, principal or interest,
if any, or in case default shall be made in or in case of violation or breach of any of the terms, conditions, covenants or
agreements contained in the Contract, the beneficiary hereunder may declare a violation of any of the covenants contained
in the Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of such election and
demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE
shall cause a copy of the same to be recorded in the recorder's office of the county in which said Property is situated, it shall
and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC
TRUSTEE may think best), and all the right, title and interest of the GRANTOR, its heirs or assigns therein, at public auction at
such time and at such location as shall be designated in the PUBLIC TRUSTEE's Notice of Sale, for the highest and best price
the same will bring in cash, four weeks public notice having been previously given of the time and place of such sale,
advertisement once each week for five consecutive weeks, in some newspaper of general circulation at that time published
in said County of Rio Blanco, a copy of which notice shall be mailed within ten days from the date of the first publication
thereof to the GRANTOR at the address herein given and to such person or persons appearing to have acquired a subsequent
record interest in said Property at the address given in the recorded instrument; where only the county and state is given as
the address then such notice shall be mailed to the county seat, and to make and give to the purchaser of the Property at
such sale, a certificate in uniting describing the Property purchased, and the sum paid therefor, and the time when the
purchaser (or other person entitled thereto) shall be entitled to the deed therefor, unless the same shall be redeemed as is
provided by law; and said PUBLIC TRUSTEE shall, upon demand by the person holding the said certificate of purchase, when
said demand is made, or upon demand by the person entitled to a deed to and for the Property purchased, at the time such
demand is made, the time for redemption having expired, make and execute to such person a deed to the Property purchased,
which said deed shall be in the ordinary form of a conveyance, and shall be signed, acknowledged and delivered by the said
PUBLIC TRUSTEE and shall convey and quitclaim to such person entitled to such deed, the Property purchased as aforesaid and
all the right, title, interest, benefit and equity of redemption of the GRANTOR, its heirs and assigns made therein, and shall
recite the sum for which the said Property was sold and shall refer to the power of sale therein contained, and to the sale
made by virtue thereof; and in case of an assignment of such certificate of purchase, or in case of the redemption of the
Property, by a subsequent encumbrancer, such assignment or redemption shall also be referred to in such deed; but the notice
of sale need not be set out in such deed and the PUBLIC TRUSTEE shall, out of the proceeds or avails of such sale, after first
paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary hereunder the principal and interest
due on said note according to the tenor and effect thereof, and all moneys advanced by such beneficiary or legal holder of
said note for insurance, taxes and assessments, with interest thereon at ten per cent per annum, rendering the surplus, if
any, unto the GRANTOR, its legal representatives or assigns; which sale and said deed so made shall be a perpetual bar, both
in law and equity, against the GRANTOR, its heirs and assigns, and all other persons claiming the Property, or any part thereof,
by, from, through or under the GRANTOR, or any of them. The holder of said note may purchase Property or any part thereof;
and it shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money.
And the GRANTOR, for itself and its heirs, personal representatives or assigns covenants and agrees to and with the
PUBLIC TRUSTEE, that at the time of the unsealing of and delivery of these presents it is well seized of the Property in fee
simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in the manner and
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