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III/ . •
<br /> Deed of Trust
<br /> This indenture,made this 24th day of March 1997,between C. R. EVAN,whose address is 231 Nyberg Road, Pueblo, CO
<br /> 81006, hereinafter referred to as GRANTOR, and the Public Trustee of the County of Pueblo, State of Colorado, hereinafter
<br /> referred to as PUBLIC TRUSTEE,
<br /> Witnesseth, that whereas, GRANTOR has executed a promissory note, which is a part of Loan Contract #153748
<br /> ("Contract")for a loan in the principal sum of$100,000 to be repaid to the STATE OF COLORADO for the use and benefit of the
<br /> Department of Natural Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721, Denver,
<br /> Colorado 80203,with interest thereon from the date of first disbursement of funds under the Contract at the effective interest rate
<br /> of 3%%per annum, payable in 30 annual installments, in accordance with the Promissory Note which is a part of said Contract,
<br /> or until loan is paid in full.
<br /> And whereas,the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to the State
<br /> of Colorado.
<br /> Now,therefore,the GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain,
<br /> sell and convey unto the said PUBLIC TRUSTEE in trust forever, to wit: 2,883 shares of stock of the Excelsior Irrigating Company,
<br /> owned by C.R.Evans,as evidenced by Certificate Number 5 for 1,007 shares and Certificate Number 6 for 1,876 shares.
<br /> (collectively or hereinafter referred to as the"Property").
<br /> To have and to hold the same, together with all and singular the privileges and appurtenances thereunto belonging: In
<br /> Trust nevertheless, that in case of default in the payment of said note, or any part thereof, or in the payment of the interest
<br /> thereon,according to the tenor 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, covenants or agreements
<br /> contained in the Contract, the beneficiary hereunder may declare a violation of any of the covenants contained in the Contract
<br /> and elect to advertise said Property for sale,and demand such sale by filing a notice of such election and demand for sale with
<br /> the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale,the PUBLIC TRUSTEE shall cause a copy of the
<br /> 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
<br /> PUBLIC TRUSTEE to sell and dispose of the same(en masse or in separate parcels,as the said PUBLIC TRUSTEE may think best),
<br /> and all the right, title and interest of the GRANTOR, its successors or assigns therein, at public auction at such time and at such
<br /> 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,
<br /> four weeks public notice having been previously given of the time and place of such sale,advertisement once each week for five
<br /> consecutive weeks, in some newspaper of general circulation at that time published in said County of Pueblo, a copy of which
<br /> notice shall be mailed within ten days from the date of the first publication thereof to the GRANTOR at the address herein given and
<br /> to such person or persons appearing to have acquired a subsequent record interest in said Property at the address given in the
<br /> recorded instrument;where only the county and state is given as the address then such notice shall be mailed to the county seat,
<br /> and to make and give to the purchaser of the Property at such sale,a certificate in writing describing the Property purchased,and
<br /> the sum paid therefor, and the time when the purchaser(or other person entitled thereto) s -•- e,itle•..,to. se seed therefor,
<br /> unless the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE shall, u' , '' : d Yt bi p., on holding
<br /> the said certificate of purchase, when said demand is made, or upon demand by the perso i •' • .1d '• i"-and for the
<br /> Property purchased,at the time such demand is made,the time for redemption having expire(-f' . a•* such person
<br /> a deed to the Property purchased, which said deed shall be in the ordinary form of a conveyance, and shall be signed,
<br /> acknowledged and delivered by the said PUBLIC TRUSTEE and shall convey and quitcl t...,,u , •e ��� •,t h teed,the
<br /> Property purchased as aforesaid and all the right,title, interest, benefit and equity of • `:•ti.n of e •R sutessors
<br /> and assigns made therein, and shall recite the sum for which the said Property wa? o • : s sh fe,.,o i e`,,o�er�of sale
<br /> therein contained,and to the sale made by virtue thereof;and in case of an assignment•' uc 'ce ' ted ; diftefof in case
<br /> of the redemption of the Property, by a subsequent encumbrancer, such assignment or redemption shall also be referred to in
<br /> such deed; but the notice of sale need not be set out in such deed and the PUBLIC TRUSTEE shall,out of the proceeds or avails of
<br /> such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary hereunder the
<br /> principal and interest due on said note according to the tenor and effect thereof, and all moneys advanced by such beneficiary or
<br /> legal holder of said note for insurance, taxes and assessments, with interest thereon at ten per cent per annum, rendering the
<br /> surplus, if any, unto the GRANTOR, its legal representatives or assigns; which sale and said deed so made shall be a perpetual
<br /> bar,both in law and equity, against the GRANTOR,its successors and assigns,and all other persons claiming the Property,or any
<br /> part thereof, by,from,through or under the GRANTOR,or any of them. The holder of said note may purchase Property or any part
<br /> thereof;and it shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money.
<br /> And the GRANTOR,for itself and its successors or assigns covenants and agrees to and with the PUBLIC TRUSTEE, that at the
<br /> time of the unsealing of and delivery of these presents, it is well seized of the Property in fee simple, and has good right, full
<br /> power and lawful authority to grant, bargain, sell and convey the same in the manner and form as aforesaid; hereby fully and
<br /> absolutely waiving and releasing all rights and claims it may have in or to said Property as a Homestead Exemption, or other
<br /> anyexemption under and
<br /> n act of the General Assemblyof the State of Colorado, asor p by
<br /> exemption, under and by virtue of any
<br /> mayhereafter bepassed in relation thereto and that the
<br /> virtue of anyact of the United States Congress, now existing or which .
<br /> i ut-
<br /> same is free and clear of all liens and encumbrances whatever, and the above bargained Property in the quiet and peaceable
<br /> possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons lawfully claiming or to
<br /> claim the whole or any part thereof,the GRANTOR shall and will Warrant and Forever Defend.
<br /> Appendix D to Loan Contract #C153748
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