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<br /> Ste„e Moreno. Clerk and Recorder, Weld County: CO
<br /> ,111 h'i94117.41 r14 141',I01ei r1'1i WINN ki 11 111
<br /> Deed of Trust
<br /> DATE: November 13, 2012
<br /> GRANTOR: ECKHARDT FARMS, INC.
<br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br /> COUNTY: WELD COUNTY
<br /> PRINCIPAL LOAN AMOUNT: 1,336,230
<br /> LOAN CONTRACT: Loan Contract No. C150338
<br /> TERMS OF REPAYMENT: 1.75% per annum for 30 years
<br /> COLLATERAL: WATER RIGHTS consisting of twenty-one (21) shares in the Western Mutual
<br /> Ditch Company valued at an amount equal to or greater than 110% of the
<br /> LOAN AMOUNT.
<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
<br /> CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with TERMS OF
<br /> REPAYMENT and 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
<br /> grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described
<br /> COLLATERAL.
<br /> To have and to hold the same, together with all appurtenances, in trust nevertheless, that in
<br /> case of default in the payment of said PROMISSORY NOTE, or any part thereof, or the interest thereon, or
<br /> in the performance of any covenants hereinafter set forth or in said PROMISSORY NOTE or LOAN
<br /> CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC
<br /> TRUSTEE, after advertising notice of said sale weekly for not less than four weeks in some newspaper of
<br /> general circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at
<br /> the time of filing said notice and demand, at public auction for cash, at any proper place designated in
<br /> the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees,
<br /> charges and 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 NOTE,
<br /> rendering the over plus, if any, unto the GRANTOR; and after the expiration of the time of redemption, the
<br /> PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the COLLATERAL sold. The
<br /> 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
<br /> same in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and
<br /> claims it may have in or to said COLLATERAL as a Homestead Exemption or other exemption, now or
<br /> hereafter provided by law. The GRANTOR further covenants that the collateral is free and clear of all
<br /> liens and encumbrances whatever and that the GRANTOR shall warrant and forever defend the
<br /> COLLATERAL in the quiet and peaceable possession of the PUBLIC TRUSTEE, its successors and assigns,
<br /> against all and every person or persons lawfully claiming or to claim the whole or any part thereof.
<br /> Appendix 4a to Loan Contract C150338
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