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Deed of Trust
<br /> DATE: DECEMBER 10,2013
<br /> GRANTOR: MCDONALD DITCH COMPANY,A MUTUAL DITCH COMPANY
<br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br /> COUNTY: RIO GRANDE
<br /> PRINCIPAL LOAN AMOUNT: $101,000
<br /> LOAN CONTRACT: Loan Contract No. C150334
<br /> TERMS OF REPAYMENT: 2.50% per annum for 20 years
<br /> COLLATERAL: An undivided one-hundred percent interest in the McDonald Ditch diversion
<br /> dam, headgate structure and pipeline located in the SE %of the SE %of
<br /> Section 6 , Township 39 North, Range 7 East of the New Mexico Meridian
<br /> and the McDonald Ditch pipeline running from the headgate located in the
<br /> SE %of the SE %4 of Section 6 , Township 39 North, Range 7 East of the
<br /> New Mexico Meridian to the start of the McDonald ditch located in the SW
<br /> 1/4 of the SW 1/4 of Section 5, Township 39 North, Range 7 East of the New
<br /> Mexico Meridian.
<br /> This indenture is between the Grantor, and the Public Trustee of the above referenced COUNTY,
<br /> 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 LOAN CONTRACT,
<br /> for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with TERMS OF REPAYMENT and
<br /> 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 upon
<br /> the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after advertising notice of
<br /> said sale weekly for not less than four weeks in some newspaper of general circulation in said COUNTY, shall
<br /> sell said COLLATERAL in the manner provided by law in effect at the time of filing said notice and demand, at
<br /> public auction for cash, at any proper place designated in the notice of sale. Out of the proceeds of said sale,
<br /> the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys advanced for taxes,
<br /> insurance and assessments, or on any prior encumbrance, with interest thereon and pay the principal and
<br /> interest 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 a deed to
<br /> the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part 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 /> in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and claims it may have
<br /> in or to said COLLATERAL as a Homestead Exemption or other exemption, now or hereafter provided by law.
<br /> The GRANTOR further covenants that the collateral is free and clear of all liens and encumbrances whatever
<br /> and that the GRANTOR shall warrant and forever defend the COLLATERAL in the quiet and peaceable possession
<br /> of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons lawfully claiming
<br /> Appendix 5 to Loan Contract C150334
<br /> Page 1 of 3
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