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<br /> 3565628 07/10/2008 04:16P Weld County, CO
<br /> • 1 of 3 R 16.00 D 0.00 Steve Moreno Clerk& Recorder
<br /> Deed of Trust
<br /> DATE: March 14, 2008
<br /> GRANTOR: Henrylyn Irrigation District
<br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD
<br /> COUNTY: WELD
<br /> PRINCIPAL LOAN AMOUNT: 2,184,327
<br /> LOAN CONTRACT: Loan Contract No. C150252, dated March 14, 2008
<br /> TERMS OF REPAYMENT: 2.25% per annum for 30 years
<br /> COLLATERAL: A ten percent (10%) interest in certain real property known as
<br /> Horse Creek Reservoir, located in S '•n 32, Township 1 North,
<br /> Range 64 West of the 6th P.M., t• = • - I improvements
<br /> thereon, including but not limited to - - - -, i = . •nals, and all
<br /> other structures and fixtures, ease - ' is-of-way, or
<br /> other property or property ' h nd use• in connection
<br /> with the operation of said rese i
<br /> This indenture is between the Grantor, and the Public Trustee 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 aforesa' !i , 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,
<br /> that in case of default in the payment of said Promissory Note, or any part thereof, or the
<br /> interest thereon, or in the performance of any covenants hereinafter set forth or in said
<br /> Promissory Note or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and
<br /> demand for sale, said PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less
<br /> than four weeks in some newspaper of general circulation in said COUNTY, shall sell said
<br /> COLLATERAL in the manner provided by law in effect at the time of filing said notice and demand,
<br /> at public auction for cash, at any proper place designated in the notice of sale. Out of the
<br /> proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs
<br /> and all moneys advanced for taxes, insurance and assessments, or on any prior encumbrance,
<br /> with interest thereon and pay the principal and interest due on said Promissory Note, rendering
<br /> the 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 /> Appendix 5 to Loan Contract C150252
<br /> Page 1 of 3
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