C153718 Paid in Full Contract

• Contract/PO #: C153718
• Contractor Name: Morgan County Quality Water District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

• a
\3 Deed of Trust
This indenture, made this i1S day of 1996, between the Morgan County Quality Water
District, whose address is P. 0. Box 1218, Fort Morgan, CO 80701, hereinafter referred to as GRANTOR, and the Public
Trustee of the County of Weld, State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
Witnesseth, that whereas, GRANTOR has executed a promissory note, set forth in Contract #C153718 (the
Contract) for a loan in the principal sum of Three Million Dollars ($3,000,000) to be repaid to the STATE OF COLORADO
for the use and benefit of the Department of Natural 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 4% per annum, payable in 30 annual installments, in accordance with the terms of
the Promissory Note Provisions of,said Contract, or until loan is paid in full.
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And whereas,the GRANTO1 is desirous of securing payment of the princip d interest of said promissory note to a
\Ithe State of Colorado.
Now, therefore, the GRANTOR, in consideration of the premise for the . e id, does hereby grant,
bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, If
1) all of the real property, together with improvements, including a e ing 1 ituate, lying and being in the 0 cr
l County of Weld and State of Colorado, described as follows: Section 8, To, i N ;' R.y+e 61 West of the 6th C
P.M.; and
2) all the right, title, interest, claim and demand which the GRANTOR has in and to the oi, - and other minerals,
including all of its rights to eplore for and develop the same, lying in and under the following described tract of land
situate in Weld County, Colorado: Section 8, Township 3 North, Range 61 West of the 6th Principal Meridian; and 2 o
3) all water and water rights appurtenant to Section 8, Township 3 North, Range 61 West of the 6th Principal Meridian, y poo
including, but not limited to: Well Permit No. 16644-FP, located in the SW1/4 SW1/4 Section 8, Township 3 N, Range
61 W of the 6th P.M., with priority date of September 12, 1972, maximum annual appropriation of 345 acre-feet, and rn
maximum pumping rate of 16100 GPM (original claimant Thelma Krause); Well Permit No. 17501-FP, located in the o
NW1/4 SW1/4 Section 8, Township 3 N, Range 61 W of the 6th P.M., with priority date of January 20, 1971,maximum
annual appropriation of 345 acre-feet, and maximum pumping rate of 1600 GPM(original claimant Thelma Krause);and p
Well Permit No. 17502-FP, located in the NE1/4 NW1/4 Section 8, Township 3 N, Range 61 W of the 6th P.M., with n 'd
priority date of January 20, 1971,maximum annual appropriation of 345 acre-feet,and maximum pumping rate of 1600 N ^
GPM (original claimant Thelma Krause);and
4) all of the GRANTOR'S right, title and interest in and to that certain water lease dated September 7, 1974, from Richard R°
L. Beaghler, Mary Jane Gordon and A. J. Beaghler to R. J. Seyfried and Anne Seyfried, conveyed to the GRANTOR by an M 0
Assignment of Water Lease recorded in Book 1527, Reception No. 2471505, of the records of the Clerk and Recorder
of Weld County, Colorado, covering the production of ground water and certain rights incident thereto beneath a tract K w
of land situate in Weld County, Colorado, described as follows: the South 1/2 of the North 1/2 and the Southeast 1/4
of Section 5, Township 3 North, Range 61 West of the 6th P.M., containing 320 acres more or less, together with all II
of the BORROWER'S right, title and interest, if any, in and to Well Permit No. 18338-FP, located in the SW1/4 NE1/4
Section 5, Township 3 N, Range 61 W of the 6th P.M., with priority date of May 15, 1974, maximum annual
appropriation of 175 acre-feet, and maximum pumping rate of 1200 GPM(original claimant Dr. A.J. Beaghler)and Well I"'
Permit No. 31655-FP, located in the SW1/4 NE1/4 Section 5, Township 3 N, Range 61 W of the 6th P.M., with priority C n
date of March 20, 1975, maximum annual appropriation of 170 acre-feet, and maximum pumping rate of 1200 GPM o
(original claimant Dr. A.J. Beaghler),
all of which shall be hereinafter collectively referred to as the "Property".
To have and to hold the same,together with all and singular the privileges and appurtenances thereunto belonging:
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 tenor and effect of said note or in the payment of any prior encumbrances, principal or
interest, if any,or in case default Shall be made in or in case of violation or breach of any of the terms, conditions, covenants
or agreements contained in the Contract,the beneficiary hereunder may declare a violation of any of the covenants contained
in the Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of such election and
demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE
shall cause a copy of the same to be recorded in the recorder's office of the county in which said Property is situated, it shall
and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC
TRUSTEE may think best), and all the right, title and interest of the GRANTOR, its successors or assigns therein, at public
auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE'S Notice of Sale, for the highest and
best price the same will bring in cash, four weeks public notice having been previously given of the time and place of such
sale, advertisement once each week for five consecutive weeks, in some newspaper of general circulation at that time
published in said county, a copy of which notice shall be mailed within ten days from the date of the first publication thereof
APPENDIX C