C153769 Paid in Full Contract

• Contract/PO #: C153769
• Contractor Name: Agricultural Ditch and Reservoir Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Deed of Trust
M1
This indenture,made this /714 day of Pa c epril b¢r 1997, between the Agricultural Ditch and Reservoir
Company, a Colorado nonprofit corporation, whose address is 12860 W. Cedar Drive, Suite 102, Lakewood, CO 80228,
hereinafter referred to as GRANTOR, and the Public Trustee of the County of Clear Creek, State of Colorado, hereinafter
referred to as PUBLIC TRUSTEE, 1
Witnesseth, tha whereas, GRANTOR has executed a Promissory Note, which is a part of Loan Contract C153769
(the Contract), for a loan ithe principal sum of$300,000.00 to be repaid to the State of Colorado for the use and benefit of
the Department of Natu I Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721,
Denver, Colorado 80203,With interest thereon from the date of first disbursement of funds under the Contract at the effective
interest rate of 5.25% per annum, in 30 annual installments, in accordance with the terms of the Promissory Note, or
until loan is paid in full.
And whereas, th- GRANTOR is desirous of securing payment of the principal and interest of said promissory note to
the State of Colorado.
Now, therefore, e GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant,
bargain, sell and convey Niro the said PUBLIC TRUSTEE in trust forever, to wit The Caroline Placer, Mineral Certificate No.
1591,situate in Upper Fall River Mining District, Clear Creek County, State of Colorado, as more particularly described in the
attached Exhibit A,which i- incorplbrated herein(hereinafter referred to as the"Property").
To have and to old the same,together with all and singular the privileges and appurtenances thereunto belonging: 0 V
In Trust nevertheless,that in case of default in the payment of said note,or any part thereof, or in the payment of the interest >,
thereon, according to the enor effect of said note or in the payment of any prior encumbrances, principal or interest, if c
any, or in case default s all be ade in or in case of violation or breach of any of the terms, conditions, covenants or 0
agreements contained in , e Co ct,the beneficiary hereunder may declare a violation of any of the covenants contained in Y
the Contract and elect to adverts e said Property for sale, and demand such sale by filing a notice of such election and e
E
demand for sale with the ` BMT USTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE c 0
shall cause a copy of the -me to be recorded in the recorder's office of the county in which said Property is situated, it shall M a
and may be lawful for the "UBLITRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said d!;
PUBLIC TRUSTEE may think lest), d all the right,title and interest of the GRANTOR,its successors or assigns therein,at publics0
auction at such time and -t�such cation as shall be designated in the PUBLIC TRUSTEE'S Notice of Sale, for the highest and
best price the same will b'ng insh, four weeks public notice having been previously given of the time and place of such m a
sale, advertisement once each eek for five consecutive weeks, in some newspaper of general circulation at that time cavi z
published in said County •f Clea Creek, a copy of which notice shall be mailed within ten days from the date of the first m
publication thereof to the 4.II2ANTo at the address herein given and to such person or persons appearing to have acquired a m
subsequent record interes i i said roperty at the address given in the recorded instrument;where only the county and state is m
given as the address the such otice shall be mailed to the county seat, and to make and give to the purchaser of the G
Property at such sale,a c= 'fibs*in writing describing the Property purchased,and the sum paid therefor,and the time when r4 B
the purchaser(or other pe •n en ed thereto)shall be entitled to the deed therefor,unless the same shall be redeemed as is ®e.'
provided by law; and said .UBLIC RUSTEE shall, upon demand by the person holding the said certificate of purchase, when N
said demand is made, or •on d41
and by the person entitled to a deed to and for the Property purchased, at the time such m i
demand is made, the ti - for demption having expired, make and execute to such person a deed to the Property r,
purchased,which said de;• shall e in the ordinary form of a conveyance,and shall be signed, acknowledged and delivered N,•,
by the said PUBLIC TRU = i and shall convey and quitclaim to such person entitled to such deed, the Property purchased as ao g °
aforesaid and all the right, itle, interest, benefit and equity of redemption of the GRANTOR, its successors and assigns made r''r'
therein, and shall recite the sum fir which the said Property was sold and shall refer to the power of sale therein contained,
and to the sale made by 4irtue Hereof; and in case of an assignment of such certificate of purchase, or in case of the
redemption of the Prope , by a siibsequent encumbrancer, such assignment or redemption shall also be referred to in such
deed; but the notice of sal I need of be set out in such deed and the PUBUC TRUSTEE shall, out of the proceeds or avails of
such sale,after first payin nd re ining all fees,charges and costs of making said sale, pay to the beneficiary hereunder the
rtl
principal and interest due said, ote according to the tenor and effect thereof,and all moneys advanced by such beneficiary
or legal holder of said note for ins.irance, taxes and assessments,with interest thereon at ten per cent per annum, rendering
the surplus, if any, unto the GRAD rroR, its legal representatives or assigns; which sale and said deed so made shall be a
perpetual bar, both in law and a ity, against the GRANTOR, its successors and assigns, and all other persons claiming the
Property, or any part thert, by, om,through or under the GRANTOR, or any of them. The holder of said note may purchase
Property or any part there f and it shall not be obligatory upon the purchaser at any such sale to see to the application of the
puraiese,money.
.-• - And the GRANTo ,for i If and its successors or assigns covenants and agrees to and with the PUBLIC TRUSTEE,that
at the time of the unsealin f an delivery of these presents it is well seized of the Property in fee simple, and has good right,
full power and Lawful auth 'ty to, rant, bargain, sell and convey the same in the manner and form as aforesaid; hereby fully
I and absolutely waiving an releasing all rights and claims it may have in or to said Property as a Homestead Exemption, or
other exemption, under an by virile of any act of the General Assembly of the State of Colorado,or as any exemption under
.. . Appendix 4 to Loan Contract C153769 \a$
1