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RECEPTION#: 20150075198, 11/10/2015 at
<br /> 10:19:12 AM,1 OF 3, R$21.00 TD Pgs: 0
<br /> Angela Myers, Clerk& Recorder, Larimer
<br /> County, CO
<br /> Deed of Trust
<br /> DATE: October 21, 2015
<br /> GRANTOR: THE TUNNEL WATER COMPANY
<br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br /> COUNTY: LARIMER
<br /> PRINCIPAL LOAN AMOUNT: $1,111,000 '
<br /> LOAN CONTRACT NUMBER: CT2016-2001
<br /> TERMS OF REPAYMENT: 2.55 % interest for 30 years
<br /> COLLATERAL: An undivided one-hundred percent interest in the structures owned
<br /> and operated by the BORROWER commonly known as the West and
<br /> East Portal Structures, said interest to include the necessary
<br /> easements, rights-of-ways or other property or property interest
<br /> held by the Borrower and used in for the access and operation of
<br /> said structures. The West Portal Structure is located NE1/4 of the
<br /> SW1/4 of Section 7, Township 8 North, Range 75 West of the Sixth
<br /> P.M., Larimer County. The East Portal Structure is located NW1/4
<br /> of the NE1/4 of Section 16, Township 8 North, Range 75 West of
<br /> the Sixth P.M., Larimer County.
<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
<br /> in 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
<br /> NOTE Of LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and demand for
<br /> sale, said PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less than four
<br /> weeks in some newspaper of general circulation in said COUNTY, shall sell said COLLATERAL in
<br /> the manner provided by law in effect at the time of filing said notice and demand, at public
<br /> auction for cash, at any proper place designated in the notice of sale. Out of the proceeds of
<br /> said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys
<br /> advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest
<br /> thereon and pay the principal and interest due on said PROMISSORY NOTE, rendering the
<br /> overplus, if any, unto the GRANTOR; and after the expiration of the time of redemption, the
<br /> Appendix 6
<br /> Page 1 of 3
<br /> COLORADO WATER CONSERVATION BOARD
<br /> 1313 SHERMAN ST#718
<br /> Denver,CO 80203
<br />
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