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<br />DEED OF TRUST
<br />THIS DEED OF TRUST. dated Uc66e_q 2c,lcir14 , between THE CITY OF GREELEY, COLORADO, a
<br />Municipal Corporation Organized And Existing tinder And By Virtue Of The Laws Of The
<br />State Of Colorado, the grantor herein, whose address is 1000 Tenth Street, Greeley
<br />County of Weld and the State of Colorado, and the PUBLIC TRUSTEE of the State in
<br />which the property described below is situated, in the State of Colorado,
<br />Witness:
<br />The grantor, to secure a promissory note or notes, hereinafter referred to in the
<br />singular, for the total principal sum of Three Hundred Eighty Thousand Dollard
<br />($380,000), payable to the order of COLORADO WATER CONSERVATION BOARD, A State Board
<br />or Department of Natural Resources Of the State Of Colorado, 721 State Centennial
<br />Building, 1313 Sherman Street, Denver, Colorado 80203, with interesi; thereon at the
<br />rate of FIVE (5) percent per annum, principal and interest payable In Constant Annual
<br />Installments of Twenty -Six Thousand Nine Hundred Sixty -One Dollars ($26,961? Each For
<br />Twenty -Five (25) Years Beginning The First Day Of The Month Next Succeeding The Month
<br />In Which The State Determines The Project Substantially Completed does hereby grant
<br />and cor.:ey unto said Public Trustee the following described proper-ty, situate in the
<br />Count-, of Larimer, State of Colorado, to wit:
<br />All that certain storage reservoir known as Peterson Lahe Reservoir., located in
<br />the Southeast Quarter (SE 1/4) of Section 22, the Southwest Quarter of the Southwest
<br />Quarter (SW 1/4 SW 1/4) of Section 23, the Northwest Quarter of the Northwest Quarter
<br />(NW 1/4 NW 1/4) of Section 26, and the Northeast Quarter of the Northeast Quarter (NE
<br />1/4 NE 1/4) of Section 27, Township 7 North, Range 75 West of the Sixth P.M., together
<br />with all dams, embankments, inlet ditches, outlet gates, and outlet ditches, and all
<br />improvements, constructions, and appurtenances connected therewith, expressly
<br />including all rights now owned or hereafter acquired'_i.a -.a to the Trap Creek inlet
<br />ditch, having its head gate in Section 21, Townsh,i3�7 NQt Range 75 West of the
<br />Sixth P.M., and the Corral Creek inlet ditch, .iaving'its'lead gate in Section 33,
<br />Township 7 North, Range 75 West of the Sixth P.M'6_. °as more.,par icularly described in
<br />that certain map and statement recorded August 21,1922"in life Nb. 1037 of the
<br />records of the County Clerk and Recorder ofLal-1 -ierY, 'qU! tv:Cohorado, and all water
<br />rights and appropriations now or hereafter ft°das ifiitiated by the construction
<br />or use of said Reservoir and said ditches and °rlll enlargements or extensions thereof,
<br />together with all maps, plats, statements, and filings made therefor and particularly
<br />that certain map and statement recorded October 17, 1921 in File No. 1031 of the
<br />records of the County Clerk and Recorder of Larimer County, Colorado and all easements
<br />from the United States appurtenant to the Reservoir.
<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 note or any part thereof or interest
<br />thereon, or in the performance of any covenants hereinafter set forth, then upon the
<br />beneficiary (note holder) filing notice of election and demand for sale, said Public
<br />Trustee, after advertising notice of said sale weekly, for not less than four weeks,
<br />in some newspaper of general circulation in said county, shall sell said property in
<br />the manner provided by law in effect at the time of filing said notice and demand, at
<br />public auction for cash, at any proper place designated in the notice of sale. Out of
<br />the proceeds of said sale said 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
<br />note, rendering the overplus (if any) unto the grantor; and after the expiration, of
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