C150360 DOT filed - Laserfiche WebLink

Home Browse Search

■III WIraJI II!'i Wit*I 11.'I1iINErl C+I Ailiiiii, 11111 RECEPTION#: 617571, 02/20/2015 at Reception#: 860173 02:23:25 PM, 03/10/2015 12:43:11 PM Jean Alberico 1 of 3 Rec Fee:$21 00 Doc Fee:0.00 GARFIELD COUNTY CO 1 OF 3, R $21.00 Doc Code DT Janice K. Vos Caudill, Pitkin County, CO Deed of Trust DATE: JANUARY 17, 2015 GRANTOR: EAST MESA WATER COMPANY BENEFICIARY: COLORADO WATER CONSERVATION BOARD COUNTY: PITKIN AND GARFIELD PRINCIPAL LOAN AMOUNT: $555,500 LOAN CONTRACT: LOAN CONTRACT No. 0150360 TERMS OF REPAYMENT: 1.75% per annum for 30 years COLLATERAL: An undivided one-hundred percent interest in the Ditch Piping Project including up to 1,450 feet of 48-inch high density polyethylene (HDPE) pipe and any easements, rights-of-ways or other property or property interests held and used in connection with the access and operation of said ditch/pipeline (said easements, rights-of-ways and other property or property interests held and used in connection with the access and operation of said ditch/pipeline being the "Project Area"). The Collateral does not include any right to any other portion of the East Mesa Ditch or any other portion of the easement associated with the East Mesa Ditch, other than the Project Area described above and any necessary easement for ingress to and egress from said Project Area, and it does not include the water rights associated with the East Mesa Ditch. The PROJECT is located in the Crystal River Valley in the northern portion of Pitkin County and the southern portion of Garfield County, Colorado, about 7 miles South of Carbondale, Colorado, on the east side of the Crystal River along Highway 133, Section 3, R88W, T9S. This indenture is between the Grantor, and the Public Trustee of the above referenced COUNTY, State of Colorado ("PUBLIC TRUSTEE"), FACTUAL RECITALS 1. The GRANTOR has executed a PROMISSORY NOTE of even date and amount, set forth in the LOAN CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with TERMS OF REPAYMENT and in accordance with the PROMISSORY NOTE Or until loan is paid in full. 2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of said PROMISSORY NOTE tO the BENEFICIARY. The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described COLLATERAL. To have and to hold the same, together with all appurtenances, in trust nevertheless, that in case of default in the payment of said PROMISSORY NOTE, or any part thereof, or the interest thereon, or in the performance of any covenants hereinafter set forth or in said Appendix 5 to Loan Contract C150360 Page 1 of 3 �/ 3