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277624
<br />Thu Apr 04 13:52:41 MDT 2013 B: 436 P: 0303
<br />Karen Garcia Costilla County Recorder Page 1 of 3
<br />DT Rec Fee: 21.00 DocFee: $0.00
<br />mill Iii 1111 1114(1 1011101 ail IMFIIW61N M Mh 11111
<br />Deed of Trust
<br />DATE: February 18, 2013
<br />GRANTOR: Sanchez Ditch and Reservoir Company
<br />A Colorado nonprofit corporation
<br />BENEFICIARY: Colorado Water Conservation Board
<br />COUNTY: Costilla
<br />PRINCIPAL LOAN AMOUNT: $1,128,776
<br />LOAN CONTRACT: LOAN CONTRACT No. C150342
<br />TERMS OF REPAYMENT: 30 years at 1.75% per annum, the first 5 years of which are interest only. Principal
<br />and interest would be paid over the remaining 25 years.
<br />COLLATERAL: An undivided one - hundred percent interest in and to the Sanchez Dam and
<br />Reservoir and all appurtenant structures thereto, including all lands underlying
<br />these facilities, as described as follows: the land underlying and included within the
<br />high water line of the Sanchez Reservoir located south and west of the town of
<br />San Luis at Latitude 37- 06'48" N and Longitude 105 - 24'38" W. Also, the necessary
<br />rights of ingress and egress therefor, as contained in the deeds of the owners of
<br />lands bordering on said reservoir, together with all easements and rights -of way
<br />appurtenant thereto and all improvements thereon, including the dam, reservoir,
<br />measuring devices, spillway, outlet works and all other physical and legal features
<br />known as Sanchez Reservoir, collectively.
<br />This indenture is between the Grantor, and the Public Trustee of the above referenced COUNTY, State of
<br />Colorado ( "PUBLIC TRUSTEE "),
<br />FACTUAL RECITALS
<br />1. The GRANTOR has executed a PROMISSORY NOTE of even date and amount, set forth in the LOAN
<br />CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with TERMS OF
<br />REPAYMENT and in accordance with the PROMISSORY NOTE or until loan is paid in full.
<br />2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of said
<br />PROMISSORY NOTE to the BENEFICIARY.
<br />The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant,
<br />bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described COLLATERAL.
<br />To have and to hold the same, together with all appurtenances, in trust nevertheless, that in case of
<br />default in the payment of said PROMISSORY NOTE, or any part thereof, or the interest thereon, or in the
<br />performance of any covenants hereinafter set forth or in said PROMISSORY NOTE or LOAN CONTRACT, then
<br />upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after advertising
<br />notice of said sale weekly for not less than four weeks in some newspaper of general circulation in said
<br />COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the time of filing said notice
<br />and demand, at public auction for cash, at any proper place designated in the notice of sale. Out of the
<br />proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys
<br />advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest thereon and
<br />pay the principal and interest due on said PROMISSORY NOTE, rendering the over plus, if any, unto the
<br />GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to
<br />the purchaser a deed to the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part
<br />thereof at such sale.
<br />Appendix 5 to Loan Contract C150342
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