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RECEPTION#: 20140007462, 02/13/2014 at
<br /> 09:29:42 AM,1 OF 3, R $21.00 TD Pgs: 0
<br /> Angela Myers, Clerk & Recorder. Larimer
<br /> County, CO
<br /> Deed of Trust
<br /> DATE: October 23, 2013
<br /> GRANTOR: Greeley and Loveland Irrigation Company, a Colorado nonprofit
<br /> corporation
<br /> BENEFICIARY: Colorado Water Conservation Board
<br /> COUNTY: Larimer
<br /> PRINCIPAL LOAN AMOUNT: $3,154,230
<br /> LOAN CONTRACT: Loan Contract No. C150362
<br /> TERMS OF REPAYMENT: 2.15% per annum for 30 years
<br /> COLLATERAL: An undivided one-hundred percent interest in the Boyd Lake High-
<br /> Level Outlet Project, including the entire high-level outlet structure,
<br /> gate structures and any easements, rights-of-ways or other property
<br /> or property interests held and used in connection with the access and
<br /> operation of said outlet structure. The PROJECT is located in Larimer
<br /> County in Sections 29 and 32 of Township 6 North, Range 68 West
<br /> and Sections 5 and 8 of Township 5 North, Range 68 West.
<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, with
<br /> TERMS OF 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
<br /> said PROMISSORY NOTE to the BENEFICIARY.
<br /> The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby
<br /> grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described
<br /> COLLATERAL.
<br /> To have and to hold the same, together with all appurtenances, in trust nevertheless, that
<br /> in case of default in the payment of said PROMISSORY NOTE, or any part thereof, or the interest
<br /> thereon, or in the performance of any covenants hereinafter set forth or in said PROMISSORY NOTE
<br /> or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, said
<br /> PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less than four weeks in some
<br /> newspaper of general circulation in said COUNTY, shall sell said COLLATERAL in the manner provided
<br /> by law in effect at the time of filing said notice and demand, at public auction for cash, at any proper
<br /> place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall
<br /> retain or pay first all fees, charges and costs and all moneys advanced for taxes, insurance and
<br /> assessments, or on any prior encumbrance, with interest thereon and pay the principal and interest
<br /> due on said PROMISSORY NOTE, rendering the overplus, if any, unto the GRANTOR; and after the
<br /> expiration of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser
<br /> 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
<br /> Appendix 5a to Loan Contract C150362
<br /> V Page 1 of 3
<br /> COLORADO WATER CONSERVATION BOARD
<br /> 1580 LOGAN ST#600
<br /> Denver.CO 80203
<br />
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