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20 1 11111111111111111 111111 III 111111111 IIII
<br /> 3231211 10/28/ ja 48P Weld County,CO
<br /> 1 of 3 R AP 1' Steve Moreno Clerk& Recorder
<br /> Deed of Trust
<br /> DATE: July 1, 2004
<br /> GRANTOR: NEW CACHE LA POUDRE IRRIGATING COMPANY
<br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br /> COUNTY: WELD
<br /> PRINCIPAL LOAN AMOUNT: $7,272,000
<br /> LOAN CONTRACT: Loan Contract No.C150163,dated July 1,2004
<br /> TERMS OF REPAYMENT: 2.50%per annum for 30 years
<br /> COLLATERAL: An undivided one-hundred percent interest in certain real property consisting of
<br /> approximately 1300 acres more particularly described in the attachment hereto
<br /> (Attachment 1),upon,over and under which the Drury Reservoir,Cornish Plains
<br /> Reservoir, Barnesville Reservoir, Jack Wells pumping station and pipeline will
<br /> be constructed,together with all improvements thereon, including but not limited
<br /> to gates, ditches (including full access to and use of the Greeley No. 2 ditch as
<br /> historically used by the GRANTOR for operating and delivery of water to the
<br /> reservoirs), canals, and all other structures and fixtures, and any easements,
<br /> rights-of-way,or other property or property interests held and used in connection
<br /> • with the operation of said reservoirs,pumping station,and pipeline.
<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 in
<br /> 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 expiration
<br /> of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the
<br /> 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 in
<br /> the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and claims it may have in
<br /> or to said COLLATERAL as a Homestead Exemption or other exemption, now or hereafter provided by law. The
<br /> Appendix 5 to Loan Contract C150163
<br /> C • voy
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