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Illlll IIIII IIIII IIIII II I IIIII IIIII IIII IIII IIIII IIII IIII a $0..00 <br />" 2013061820 <br />05/23/2013 12:23 :32 3 Page(s) <br />JEFFERSON COUNTY, Colorado <br />6 Deed of Trust <br />DATE: April 2, 2013 <br />GRANTOR: Bergen Ditch and Reservoir Company <br />BENEFICIARY: COLORADO WATER CONSERVATION BOARD <br />COUNTY: JEFFERSON <br />PRINCIPAL LOAN AMOUNT: $2,020,000 <br />LOAN CONTRACT: LOAN CONTRACT No. 0150344 <br />TERMS OF REPAYMENT: 3.15% per annum for 30 years <br />COLLATERAL: An undivided one - hundred percent interest in the PROJECT which <br />consists of the Bergen Ditch Reservoir No. 2 outlet works and toe <br />drain, located in the NE'/ of Section 18, T. 5 S., R. 69 W. of the <br />6th P.M. from the left abutment of Bergen Dam No. 2, the North <br />East Corner of said Section 18 bears N 150 20' E 2,500 feet, and <br />any easements, rights -of -ways or other property or property <br />interests held and used in connection with the access and <br />operation of said project. <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 <br />paid in full. <br />2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of <br />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 demand, <br />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 <br />and all moneys advanced for taxes, insurance and assessments, or on any prior encumbrance, <br />with interest thereon and pay the principal and interest due on said PROMISSORY NOTE, <br />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 />Appendix 5 to Loan Contract C150344 <br />Page 1 of 3 <br />