C150379 Contract

• Contract/PO #: C150379
• Contractor Name: Wadley Farms, Filing No. 3 Homeowners Association
• Contract Type: Loan
• Water District: 7
• County: Adams
• Loan Projects - Doc Type: Contract Documents

Deed of Trust
DATE: January 25, 2014
GRANTOR: WADLEY FARMS, FILING No. 3 HOMEOWNER'S ASSOCIATION, A COLORADO
CORPORATION
BENEFICIARY: COLORADO WATER CONSERVATION BOARD
COUNTY: ADAMS
PRINCIPAL LOAN AMOUNT: $727,200
LOAN CONTRACT: Loan Contract No. C150379
TERMS OF REPAYMENT: 3.0% per annum for 30 years
COLLATERAL: An undivided one-hundred percent (100%) interest in Water Rights consisting of
two (2) shares in the Farmers High Line Canal and Reservoir Company, stock
certificate number(s) 5893 and 5894.
This indenture is between the Grantor, and the Public Trustee of the above referenced COUNTY,
State of Colorado ("PUBLIC TRUSTEE"),
FACTUAL RECITALS
1. The GRANTOR has executed a PROMISSORY NOTE of even date and amount, set forth in the LOAN CONTRACT,
for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with TERMS OF REPAYMENT and in
accordance with the PROMISSORY NOTE or until loan is paid in full.
2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of said
PROMISSORY NOTE to the BENEFICIARY.
The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant,
bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described COLLATERAL.
To have and to hold the same, together with all appurtenances, in trust nevertheless, that in case of
default in the payment of said PROMISSORY NOTE, or any part thereof, or the interest thereon, or in the
performance of any covenants hereinafter set forth or in said PROMISSORY NOTE or LOAN CONTRACT, then upon
the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after advertising notice of
said sale weekly for not less than four weeks in some newspaper of general circulation in said COUNTY, shall sell
said COLLATERAL in the manner provided by law in effect at the time of filing said notice and demand, at public
auction for cash, at any proper place designated in the notice of sale. Out of the proceeds of said sale, the
PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys advanced for taxes, insurance
and assessments, or on any prior encumbrance, with interest thereon and pay the principal and interest due on
said PROMISSORY NOTE, rendering the over plus, if any, unto the GRANTOR; and after the expiration of the time of
redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the COLLATERAL sold. The
BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale.
The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the
COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey the same in
the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and claims it may have in
or to said COLLATERAL as a Homestead Exemption or other exemption, now or hereafter provided by law. The
GRANTOR further covenants that the collateral is free and clear of all liens and encumbrances whatever and that
the GRANTOR shall warrant and forever defend the COLLATERAL in the quiet and peaceable possession of the
PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons lawfully claiming or to claim
the whole or any part thereof.
Appendix 5 to Loan Contract C150379
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