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68281 8/2/2013 9:03 AM Eryn K Wintz
<br />1 of 3 DT R$21.00 D$0.00 Mineral County Clerk
<br />Deed of Trust
<br />DATE:
<br />May 09, 2013
<br />GRANTOR:
<br />Santa Maria Reservoir Company
<br />A Colorado nonprofit corporation
<br />BENEFICIARY:
<br />Colorado Water Conservation Board
<br />COUNTY:
<br />Hinsdale and Mineral
<br />PRINCIPAL LOAN AMOUNT:
<br />$1,405,163
<br />LOAN CONTRACT:
<br />LOAN CONTRACT No. C150350
<br />TERMS OF REPAYMENT:
<br />1.75% per annum for 30 years
<br />COLLATERAL:
<br />An undivided one - hundred percent interest in the Santa Maria Siphon and Canal
<br />System Rehabilitation Project including the conveyance system, the open channel,
<br />the pipeline, the siphon and any easements, rights -of -ways or other property or
<br />property interests held and used in connection with the access and operation of
<br />said project. Project is at the inlet ditch to the Santa Maria Reservoir from North
<br />Clear Creek diverting from North Clear Creek approximately 5,398 feet from the
<br />SE '/4 of Section 1, Township 41 North, Range 3 West, N.M.P.M. in Mineral
<br />County. Project lies 23 miles southwest of the Town of Creede at the following
<br />coordinates: Latitude: 37,845139 and Longitude: 107,147641.
<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 />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the
<br />COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey the same
<br />Appendix 5 to Loan Contract C150350
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