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20150 4'229'28 <br /> I- led for Record in <br /> RIO GRANDE <br /> t.I DY HILL r RECORDER <br /> 01-0Q-2015 Hu. 0259 PM. <br /> E.D OF TRT 21.00 <br /> Deed of 'Trust le 220 - <br /> '' <br /> n � d .00h PE13111 <br /> 2S11500422923 OR 573 220 <br /> • DATE: December 4, 2014 <br /> GRANTOR: PRAIRIE DITCH COMPANY,A COLORADO NONPROFIT CORPORATION <br /> • BENEFICIARY: COLORADO WATER CONSERVATION BOARD <br /> COUNTY: RIO GRANDE <br /> PRINCIPAL LOAN AMOUNT: $131,300 <br /> CONTRACT MGMT SYSTEM NUMBER: 71949 <br /> TERMS OF REPAYMENT: 1.25% per annum for 10 years <br /> COLLATERAL: an undivided one hundred percent (100%) interest in the <br /> PROJECT, which includes the Prairie Ditch Diversion Dam and <br /> Headgate Structure on the Rio Grande River located in the NE ' <br /> of the NW % of Section 8, Township 39 North, Range 7 East of <br /> the New Mexico Meridian, in Rio Grande County and including all <br /> appurtenances, easements, rights-of-way, or other property or <br /> property interest held and used in connection with the access and <br /> operation of said COLLATERAL. <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, <br /> with TERMS OF REPAYMENT and in accordance with the Promissory Note or until loan is paid in <br /> 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 <br /> hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above <br /> described 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 <br /> provided by law in effect at the time of filing said notice and demand, at public auction for cash, at <br /> any proper place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC <br /> 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 <br /> principal and interest due on said Promissory Note, rendering the overplus, if any, unto the <br /> GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE shall execute <br /> and deliver to the purchaser a deed to the COLLATERAL sold. The BENEFICIARY may purchase said <br /> COLLATERAL or any part thereof at such sale. <br /> Appendix 5 <br /> Page 1 of 3 <br />