CT2015-175 Filed DOT - Laserfiche WebLink

Home Browse Search

171321 DT 02/09/2016 03:37 PM L. Nichols Paye 1 of 3 R 21.00 D 0 T 21 .00 Crowley Co 11111 Iii 111111 illi I!1►11 li11111111111111 illi Ili 11111 1111 I I!1 II 11111 11111 1111i IN Il Deed of Trust DATE: June 13, 2015 GRANTOR: LOWER ARKANSAS VALLEY WATER CONSERVANCY DISTRICT ACTING BY AND THROUGH ITS WATER ACTIVITY ENTERPRISE, A COLORADO TITLE 37 WATER CONSERVANCY DISTRICT BENEFICIARY: COLORADO WATER CONSERVATION BOARD COUNTY: CROWLEY PRINCIPAL LOAN AMOUNT: $2,560,350.00 CONTRACT NUMBER: CT2015-175 TERMS OF REPAYMENT: 1.45%PER ANNUM FOR 20 YEARS COLLATERAL: AN UNDIVIDED ONE-HUNDRED PERCENT(100%)INTEREST IN WATER RIGHTS CONSISTING OF 408.6 SHARES OF COLORADO CANAL COMPANY,STOCK CERTIFICATE NUMBER(S) (-fa t ,282 SHARES LAKE MEREDITH RESERVOIR COMPANY, STOCK CERTIFICATE NUMBER(S) 6040 S AND 126.6 SHARES OF LAKE HENRY RESERVOIR COMPANY, STOCK CERTIFICATE NUMBER(S) �I BO , PER THIS LOAN CONTRACT,ATTACHED APPENDICES AND THE GRANTOR'S RESOLUTION DATED JUNE 17,2015. 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 PROMISSORY NOTE or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less than four weeks in some newspaper of general circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the time of filing said notice and demand, at public auction for cash, at any proper place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest thereon and pay the principal and interest due on said Appendix 5 Page 1 of 3