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RECEPTION#:2015000006843,
<br /> 01/30/2015 at 09:54:49 AM,1 OF 3,
<br /> TD Pgs:0 Doc Type:DT
<br /> Stan Martin,Adams County,CO
<br /> Deed of Trust
<br /> DATE: August 8, 2014
<br /> GRANTOR: Fulton Irrigating Ditch Company, a Colorado nonprofit corporation
<br /> BENEFICIARY: Colorado Water Conservation Board
<br /> COUNTY: Adams
<br /> PRINCIPAL LOAN AMOUNT: $2,027,070
<br /> LOAN CONTRACT: Loan Contract No. C150399
<br /> TERMS OF REPAYMENT: 2.45 % per annum for 30 years
<br /> COLLATERAL: An undivided one-hundred percent interest in the Company's
<br /> South Platte River diversion gates and trash rack located in the
<br /> NE '/4 of the NE 1/4 of the SE %of Section 17, Township 2 South,
<br /> Range 67 West of the 6th P.M., and the Branch Ditch Diversion
<br /> Structure located in the NW 1/4 of the NW % of Section 30,
<br /> Township 1 South, Range 66 West of the 6th P.M., located in
<br /> Adams County and including all appurtenances, easements,
<br /> rights-of-way, or other property or property interest held and used
<br /> in connection with the access and operation of said COLLATERAL.
<br /> This indenture is between the Grantor, and the Public Trustee of the above
<br /> referenced 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
<br /> in full.
<br /> 2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest
<br /> of 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
<br /> above described COLLATERAL.
<br /> To have and to hold the same, together with all appurtenances, in trust nevertheless,
<br /> that in case of default in the payment of said Promissory Note, or any part thereof, or the
<br /> interest thereon, or in the performance of any covenants hereinafter set forth or in said
<br /> Promissory Note or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and
<br /> demand for sale, said PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less
<br /> than four weeks in some newspaper of general circulation in said COUNTY, shall sell said
<br /> COLLATERAL in the manner provided by law in effect at the time of filing said notice and
<br /> demand, at public auction for cash, at any proper place designated in the notice of sale. Out
<br /> of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and
<br /> costs and all moneys advanced for taxes, insurance and assessments, or on any prior
<br /> encumbrance, with interest thereon and pay the principal and interest due on said Promissory
<br /> Note, rendering the overplus, if any, unto the GRANTOR; and after the expiration of the time of
<br /> redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the
<br /> Appendix 5 to Loan Contract C150399
<br /> Page 1 of 3
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