Laserfiche WebLink
RECEPTION#: 20140007456, 02/13/2014 at <br /> 09:14:30 AM,1 OF 3, R $21.00 ID Pgs: 0 <br /> Angela Myers, Clerk & Recorder, Larimer <br /> County, CO <br /> Deed of Trust <br /> DATE: October 23, 2013 <br /> GRANTOR: The Seven Lakes Reservoir 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: The GRANTOR'S interest in the Horseshoe High-Level Outlet Project, <br /> including the entire high-level outlet structure, gate structures and <br /> any easements, rights-of-ways or other property or property interests <br /> held and used in connection with the access and operation of said <br /> outlet structure. The PROJECT is located in Section 31 and Section <br /> 36, Township 6 North, Range 68 West, Larimer County, Colorado. <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. This DEED OF TRUST and the COLLATERAL is subject to the terms and conditions of the LOAN <br /> CONTRACT between the Colorado Water Conservation Board and Greeley and Loveland <br /> Irrigation Company (BORROWER), limited to that portion of the indebtedness evidenced by <br /> the TERMS OF REPAYMENT and in accordance with the PROMISSORY NOTE or until loan is <br /> paid in full. <br /> 2. This DEED OF TRUST is made to secure the COLLATERAL without recourse to any other <br /> assets of GRANTOR. <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 /> Appendix 5b to Loan Contract C150362 <br /> Page 1 of 3 <br /> COLORADO WATER CONSERVATION BOARD <br /> 1580 LOGAN ST#600 <br /> Denver.CO 80203 <br />