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C150144 Paid in Full Contract
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C150144 Paid in Full Contract
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Last modified
9/20/2016 10:24:18 AM
Creation date
7/29/2016 12:06:57 PM
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Loan Projects
Contract/PO #
C150144
Contractor Name
Upper Platte and Beaver Canal Company
Contract Type
Loan
County
Morgan
Loan Projects - Doc Type
Contract Documents
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I111111 III 111111 111111 I liii <br /> 812050 09/29/2003 10:38A B1158 P412 F. JOHNSON <br /> 1 of 2 R 11.00 D 0.00 Morgan County, CO <br /> Deed of Trust <br /> DATE: August 1, 2003 <br /> GRANTOR: UPPER PLATTE AND BEAVER CANAL COMP`►Y -4'? <br /> ``� <br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD ` � <br /> COUNTY: MORGAN •l i;e a <br /> PRINCIPAL LOAN AMOUNT: $68,175 . <br /> LOAN CONTRACT: Loan Contract No. C150144, dated August 1, 2003 <br /> REPAYMENT TERMS: 2.25% interest per annum for a period of 10 years <br /> COLLATERAL: A one hundred percent (100%) undivided interest in the Grantor's <br /> diversion structure located on the South Platte River at stream mile 107, <br /> in the NE/4 of the NE/4 of the NW/4 of Section 35 Township 4 North <br /> Range 58 West 6th P.M., Morgan County, Colorado, together with all <br /> rights of access. <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 LOAN <br /> CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with <br /> REPAYMENT TERMS as shown above 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 said <br /> Promissory Note to the BENEFICIARY. <br /> The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant, <br /> bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described COLLATERAL. <br /> To have and to hold the same, together with all appurtenances, in trust nevertheless, that in case <br /> of default in the payment of said Promissory Note, or any part thereof, or the interest thereon, or in the <br /> performance of any covenants hereinafter set forth or in said Promissory Note or LOAN CONTRACT, then <br /> upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after <br /> advertising notice of said sale weekly for not less than four weeks in some newspaper of general <br /> circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the time <br /> of filing said notice and demand, at public auction for cash, at any proper place designated in the notice of <br /> sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and <br /> costs and all 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 overplus, if <br /> any, unto the GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE shall <br /> execute and deliver to the purchase' a deed to the COLLATERAL sold. The BENEFICIARY may purchase <br /> said COLLATERAL or any part thereof tat such sale. <br /> The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the <br /> COLLATERAL in fee simple, and has -ull power and lawful authority to grant, bargain, sell and convey the <br /> same in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and claims <br /> Appendix 5 to Loan Contract C150144 <br />
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