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<br />RCPTN # 2000017103 03/16/2000 10:35:00 # PAGES - 4 FEE - $20.00
<br />M RODENBERGER RECORDER, LARIMER COUNTY CO STATE DOC FEE - $.00
<br />Deed of Trust
<br />This indenture, made this ;P day of AR4C47ais-& 1999, between The Ryan Gulch
<br />Reservoir Company, whose address is P.O. Box 299, Loveland, CO 80539, hereinafter referred to as
<br />GRANTOR, and the Public Trustee of the County of Larimer, State of Colorado, hereinafter referred to as
<br />PUBLIC TRUSTEE,
<br />Witnesseth, that whereas, GRANTOR has executed a Promissory Note, which is a part of Contract No.
<br />C150023 ( "Contract ") for a loan in the principal sum of $317,500 to be repaid to the STATE OF
<br />COLORADO for the use and benefit of the Department of Natural Resources, Water Conservation Board,
<br />whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, with interest thereon from
<br />the date of first disbursement of funds under the Contract at the effective interest rate of 4.25% per
<br />annum, payable in 30 annual installments, in accordance with the Promissory Note, or until loan is paid in
<br />full.
<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest of said
<br />Promissory Note to the State of Colorado.
<br />Now, therefore, 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, to wit: The Ryan
<br />Gulch Reservoir and Dam, together with approximately 900 acres of land more particularly described in
<br />the legal description, attached hereto as Attachment 1 (collectively or hereinafter referred to as the
<br />"Property").
<br />To have and to hold the same, together with all and singular the privileges and appurtenances
<br />thereunto belonging: In Trust nevertheless, that in case of default in the payment of said note, or any
<br />part thereof, or in the payment of the interest thereon, according to the tenor and effect of said note or
<br />in the payment of any prior encumbrances, principal or interest, if any, or in case default shall be made in
<br />or in case of violation or breach of any of the terms, conditions, covenants or agreements contained in
<br />the Contract, the beneficiary hereunder may declare a violation .of any of the covenants contained in the
<br />Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of such
<br />election and demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and
<br />demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the recorder's
<br />office of the county in which said Property is situated, it shall and may be lawful for the PUBLIC TRUSTEE
<br />to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE may think
<br />best), and all the right, title and interest of the GRANTOR, its successors or assigns therein, at public
<br />auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE's Notice of Sale,
<br />for the highest and best price the same will bring in cash, four weeks public notice having been
<br />previously given of the time and place of such sale, advertisement once each week for five consecutive
<br />weeks, in some newspaper of general circulation at that time published in said County of Larimer, a copy
<br />of which notice shall be mailed within ten days from the date of the first publication thereof to the
<br />GRANTOR at the address herein given and to such person or persons appearing to have acquired a
<br />subsequent record interest in said Property at the address given in the recorded instrument; where only
<br />the county and state is given as the address then such notice shall be mailed to the county seat, and to
<br />make and give to the purchaser of the Property at such sale, a certificate in writing describing the
<br />Property purchased, and the sum paid therefor, and the time when the purchaser (or other person
<br />entitled thereto) shall be entitled to the deed therefor, unless the same shall be redeemed as is provided
<br />by law; and said PUBLIC TRUSTEE shall, upon demand by the person holding the said certificate of
<br />purchase, when said demand is made, or upon demand by the person entitled to a deed to and for the
<br />CANCELLED
<br />4 to Loan Contract C15002� C��D RELEASED
<br />Angela Dazlich, Public Trustee
<br />(70 ?nrado
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