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Reception #: 1166276 Date: 04/25/1997 Time: 1214 Book: 2991 Page: 65 Chris C. Munoz
<br /> Inst: TD R Fee: 10.00 D Fee: 0.00 SC: 1 .00 Pg: 1 of 2 Pueblo Co.Clk.&Rec.
<br /> Deed of Trust
<br /> This indenture, made this 24th day of March 1997, between the EXCELSIOR IRRIGATING COMPANY, whose address is 231
<br /> Nyberg Road, Pueblo, CO 81006, hereinafter referred to as GRANTOR, and the Public Trustee of the County of Pueblo, State of
<br /> Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br /> Witnesseth,that whereas, GRANTOR has executed a promissory note,which is a part of Contract#C153748("Contract")for
<br /> a loan in the principal sum of$100,000 to be repaid to the STATE OF COLORADO for the use and benefit of the Department of
<br /> Natural Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203,
<br /> with interest thereon from the date of first disbursement of funds under the Contract at the effective interest rate of 33/4% per
<br /> annum,payable in 30 annual installments,in accordance with the Promissory Note Provision of said Contract,or until loan is paid
<br /> 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: the diversion structure of the Excelsior Ditch located in the
<br /> SE 1/4 of SE '/4 Sec. 36 Township 20 South, Range 64 West of the Principal Colorado (collectively or
<br /> "? u' 1 '
<br /> 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) 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 demand by the person holding
<br /> the said certificate of purchase, when said demand is made, or upon demand by the person entitled to a deed to and for the
<br /> Property purchased,at the time such demand is made,the time for redemption having expired,make and execute to 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 quitclaim to such person entitled to such dead,the
<br /> Property purchased as aforesaid and all the right, title, interest, benefit and equity of redemption of the GRANTOR, its successors
<br /> and assigns made therein, and shall recite the sum for which the said Property was sold and shall refer to the power of sale
<br /> therein contained,and to the sale made by virtue thereof;and in case of an assignment of such certificate of purchase,or 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 shaii,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 /> exemption, under and by virtue of any act of the General Assembly of the State of Colorado, or as any exemption under and by
<br /> virtue of any act of the United States Congress, now existing or which may hereafter be passed in relation thereto and that the
<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 G to Loan Contract #C153748
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