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Deed of Trust
<br /> DATE: December 10, 2015
<br /> GRANTOR: LOWER POUDRE AUGMENTATION COMPANY
<br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br /> COUNTY: LARIMER
<br /> PRINCIPAL LOAN AMOUNT: $454,500.00
<br /> CONTRACT NUMBER: CT2016-2005
<br /> TERMS OF REPAYMENT: 1.85% per annum for 30 years
<br /> COLLATERAL: An undivided one-hundred percent(100%) interest in the water
<br /> rights, purchased with the loan proceeds, consisting of 2.0 shares of
<br /> Box Elder Ditch, Stock Certificate No. and according to the
<br /> Loan Contract Resolutions (APPENDICES 4a and 4b)dated December
<br /> 10, 2015.
<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
<br /> paid 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 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 or 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
<br /> moneys advanced for taxes, insurance and assessments, or on any prior encumbrance, with
<br /> interest 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 /> 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
<br /> seized of the COLLATERAL in fee simple, and has full power and lawful authority to grant,
<br /> bargain, sell and convey the same in the manner and form as aforesaid. The GRANTOR fully
<br /> Appendix 6 RECEPTION#: 20160005875, 02/01/2016 at
<br /> Page 1 of 3 08:59:00 AM,1 OF 3, R$21.00 TD Pgs: 0
<br /> g Angela Myers, Clerk& Recorder, Larimer
<br /> COLORADO WATER CONSERVATION BOARD _f County, CO
<br /> ATTN FINANCE SECTION JODIE TAVARES V
<br /> 1313 SHERMAN ST#718
<br /> DENVER,CO 80203
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