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I111111 III 111111111 Ilii
<br /> 2748351 02/07/2000 01:46P JA Suki Tsukamoto
<br /> 1 of 3 R 15.00 D 0.00 Weld County Co
<br /> Ss1 Deed of Trust
<br /> This indenture, made this 1' of December 1999, between •. ,ff ateral Ditch
<br /> Company, whose address is 2425 WCR 57, Kersey, Colorado 0644, -r- f r d to as
<br /> GRANTOR, and the Public Trustee of the County of Weld, State o r do, he _ o- e red to
<br /> as PUBLIC TRUSTEE,
<br /> Witnesseth, that whereas, GRANTOR has executed a promi it:, -t forth in
<br /> Contract#C153656, as amended ("Contract") for a loan in the principal sum • $.: 40.1 to be
<br /> repaid to the STATE OF COLORADO for the use and benefit of the Depa • atural
<br /> Resources, Water Conservation Board, whose address is 1313 Sherman Street, -•• 721,
<br /> Denver, Colorado 80203, with interest thereon from the date of June 1, 1995, at the effective
<br /> interest rate of 5% per annum, payable in 40 annual installments, in accordance with the
<br /> Promissory Note or until loan is paid in full.
<br /> And whereas, the GRANTOR is desirous of securing payment of the principal and interest
<br /> of said promissory note to the State of Colorado.
<br /> Now, therefore, the GRANTOR, in consideration of the premises and for the purpose
<br /> aforesaid, does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust
<br /> forever, to wit: the Loloff lateral pipeline located in Weld county, as more thoroughly described on
<br /> Attachment 1, collectively or hereinafter referred to as the "Property."
<br /> To have and to hold the same, together with all and singular the privileges and
<br /> appurtenances thereunto belonging: In Trust nevertheless, that in case of default in the payment
<br /> of said note, or any part thereof, or in the payment of the interest thereon, according to the tenor
<br /> and effect of said note or in the payment of any prior encumbrances, principal or interest, if any, or
<br /> in case default shall be made in or in case of violation or breach of any of the terms, conditions,
<br /> covenants or agreements contained in the Contract, the beneficiary hereunder may declare a
<br /> violation of any of the covenants contained in the Contract and elect to advertise said Property for
<br /> sale, and demand such sale by filing a notice of such election and demand for sale with the
<br /> PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC
<br /> TRUSTEE shall cause a copy of the same to be recorded in the recorder's office of the county in
<br /> which said Property is situated, it shall and may be lawful for the PUBLIC TRUSTEE to sell and
<br /> dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE may think
<br /> best), and all the right, title and interest of the GRANTOR, its successors or assigns therein, at
<br /> public auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE'S
<br /> Notice of Sale, for the highest and best price the same will bring in cash, four weeks public notice
<br /> having been previously given of the time and place of such sale, advertisement once each week
<br /> for five consecutive weeks, in some newspaper of general circulation at that time published in said
<br /> County of Weld, a copy of which notice shall be mailed within ten days from the date of the first
<br /> publication thereof to the GRANTOR at the address herein given and to such person or persons
<br /> appearing to have acquired a subsequent record interest in said Property at the address given in
<br /> the recorded instrument; where only the county and state is given as the address then such notice
<br /> shall be mailed to the county seat, and to make and give to the purchaser of the Property at such
<br /> sale, a certificate in writing describing the Property purchased, and the sum paid therefor, and the
<br /> time when the purchaser (or other person entitled thereto) shall be entitled to the deed therefor,
<br /> unless the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE shall, upon
<br /> demand by the person holding the said certificate of purchase, when said demand is made, or
<br /> upon demand by the person entitled to a deed to and for the Property purchased, at the time such
<br /> demand is made, the time for redemption having expired, make and execute to such person a
<br /> deed to the Property purchased, which said deed shall be in the ordinary form of a conveyance,
<br /> and shall be signed, acknowledged and delivered by the said PUBLIC TRUSTEE and shall convey
<br /> Exhibit 2 to Loan Contract C153656 Amendment No. 2
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