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<br /> 154096 09/29/1998 03:57P DT L. Nichols
<br /> 1 of 2 R 11.00 D 0.00 N 0.00 Crowley County,Co
<br /> Deed of Trust . ::��•°°�����
<br /> T I. ind nture, m_4 e thMs -11' day of Arn5c45 f- 1998, between Rodney J. Preisser,whose address
<br /> is 90 South cascade Avenue, Ski e 9$0, Colorado Springs, CO 80903, hereinafter referred to as GRANTOR, and the Public
<br /> Trustee oft = Count4r of Crowley,, •tate of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br /> 'nesseth, that hereas, GRANTOR has executed a Promissory Note, which is a part of Loan Contract
<br /> No. C1538.4 (the C ntract), for a loan in the principal sum of$90,000.00 to be repaid to the State of Colorado for the use
<br /> and benefit o the Department of atr4ral Resources, Water Conservation Board, whose address is 1313 Sherman Street,
<br /> Room 721, Denver, olorado 80 83, with interest thereon from the date of first disbursement of funds under the Contract
<br /> payable in 0 annual installments in accordance with the terms of the Promissory Note, or until loan is paid in full.
<br /> A • whereas, the R RANTOR is desirous of securing payment of the principal and interest of said promissory
<br /> note to the u:te of Colorado
<br /> N• , th refore, the GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby
<br /> grant, barg.i sell acid convey u o the said PUBLIC TRUSTEE in trust forever, to wit: 2 c.f.s. out of the 60 cubic feet of water
<br /> per secon• .f time decreed to Box Springs Canal No. 1, with an appropriation date of October 24, 1899, and an
<br /> adjudicatio date o August 301, 1922, as adjudicated in the District Court for the County of Bent and the State of
<br /> Colorado, ich w ter rights hiS oric Ily have been diverted from Horse Creek at a point of diversion on the right bank,
<br /> decreed to •e located whence 1 e Southwest corner of Section 20, Township 18 South, Range 56 West of the Sixth
<br /> P.M., bear. outh $31° 35' We 2960 feet, said point of diversion located in what is now known as Crowley County,
<br /> which wa .plit o from Otero County, in which the point of diversion was decreed to be located (collectively or
<br /> hereinafter :ferred as the"Pre ierty").h'
<br /> T. hav and to 'Id the same, together with all and singular the privileges and appurtenances thereunto
<br /> belonging: n Trust evertheless,1 hat in case of default in the payment of said note, or any part thereof, or in the payment of
<br /> the interes't ereon, according to he tenor and effect of said note or in the payment of any prior encumbrances, principal or
<br /> interest, if .n,, or in,case default .hall'be made in or in case of violation or breach of any of the terms, conditions, covenants
<br /> or agreem• is contained in 1 the Contract, the beneficiary hereunder may declare a violation of any of the covenants
<br /> contained the Contract and el-ct to advertise said Property for sale, and demand such sale by filing a notice of such
<br /> election an• demand for sale wi the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, the
<br /> PUBLIC TR EE shall cause a c•4 y of the same to be recorded in the recorder's office of the county in which said Property is
<br /> situated, it - all and may be la 11 for the PUBLIC TRUSTEE to sell and dispose of the same (en masse or in separate parcels,
<br /> as the sai• •UBLIC TRUSTEE ma thir>Ik best), and all the right, title and interest of the GRANTOR, its successors or assigns
<br /> therein, at 4 blic auction at such ime and at such location as shall be designated in the PUBLIC TRUSTEE'S Notice of Sale,for
<br /> the highes -nd best price the sa e will bring in cash,four weeks public notice having been previously given of the time and
<br /> place of s c sale, advertiseme 1 one each week for five consecutive weeks, in some newspaper of general circulation at
<br /> that time p •lished in said Count of prowley,a copy of which notice shall be mailed within ten days from the date of the first
<br /> publication t ereof to the GRANT*• at the address herein given and to such person or persons appearing to have acquired a
<br /> subseque t ecord interest in sa Property at the address given in the recorded instrument;where only the county and state
<br /> is given a- , e add ess then su• notice shall be mailed to the county seat, and to make and give to the purchaser of the
<br /> Property a .uch sale , a certificate iri writing describing the Property purchased, and the sum paid therefor, and the time
<br /> when the +rchasdr (or other •-rsan entitled thereto) shall be entitled to the deed therefor, unless the same shall be
<br /> redeemed a. is provided by law; and said PUBLIC TRUSTEE shall, upon demand by the person holding the said certificate of
<br /> purchase, en said demand isl ade, or upon demand by the person entitled to a deed to and for the Property purchased,
<br /> at the tim_ -uch de and is rpa• •, the time for redemption having expired, make and execute to such person a deed to the
<br /> Property p chase ,which said 4 eed shall be in the ordinary form of a conveyance, and shall be signed, acknowledged and
<br /> delivered the s id PUBLIC Try STEE and shall convey and quitclaim to such person entitled to such deed, the Property
<br /> purchase .s aforesaid and all t e right, title, interest, benefit and equity of redemption of the GRANTOR, its successors and
<br /> assigns I.se therein, and shal recite the sum for which the said Property was sold and shall refer to the power of sale
<br /> therein co, tined, and to the sal • made by virtue thereof; and in case of an assignment of such certificate of purchase, or in
<br /> case of t e redemption of the •roperty, by a subsequent encumbrancer, such assignment or redemption shall also be
<br /> referred t• i such deed; but the notice of sale need not be set out in such deed and the PUBLIC TRUSTEE shall, out of the
<br /> proceeds • avails of such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the
<br /> beneficia ereun er the princil al and interest due on said note according to the tenor and effect thereof, and ail moneys -
<br /> advanced •, such beneficiary • legal holder of said note for insurance, taxes and assessments, with interest thereon at ten
<br /> per cent p- annurr� rendering t - surplus, if any, unto the GRANTOR, its legal representatives or assigns;which sale arid said
<br /> deed so .:de shall be a perpe ual bar, both in law and equity, against the GRANTOR, its successors and assigns, and all
<br /> other per-• s clainhing the Prop. rty,lor any part thereof, by,from,through or under the GRANTOR, or any of them. The holder
<br /> of said no = may p rchase Prop•rty pr any part thereof; and it shall not be obligatory upon the purchaser at any such sale to .
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<br /> • p ndix 3 to Loan Contract C153824
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