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CT2017-3641 Contract
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CT2017-3641 Contract
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Last modified
6/26/2017 8:26:40 AM
Creation date
6/23/2017 12:16:26 PM
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Loan Projects
Contract/PO #
CT2017-3641
Contractor Name
North Poudre Irrigation Company
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
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DCOPY <br /> eed of Trust <br /> DATE: JUNE 14,2017 <br /> GRANTOR: THE NORTH POUDRE IRRIGATION COMPANY, <br /> A COLORADO NONPROFIT CORPORATION <br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD <br /> COUNTY: LARIMER <br /> TOTAL LOAN AMOUNT: $499,950.00 <br /> LOAN CONTRACT NUMBER: CT2017-3641 <br /> TERMS OF REPAYMENT: 2.50%INTEREST FOR THIRTY(30)YEARS <br /> PLEDGED PROPERTY: AN UNDIVIDED ONE-HUNDRED PERCENT INTEREST IN THE RESERVOIR No.10 <br /> DAM AND RESERVOIR,INCLUDING THE ENTIRE STRUCTURE AND ANY <br /> EASEMENTS,RIGHTS-OF-WAYS OR OTHER PROPERTY OR PROPERTY INTERESTS <br /> HELD AND USED IN CONNECTION WITH THE ACCESS AND OPERATION OF SAID <br /> DAM AND RESERVOIR,LOCATED IN SECTION 13,T8N R69W OF THE <br /> 61'P.M.,LARIMER COUNTY,COLORADO <br /> This indenture is between the Grantor, and the Public Trustee of the above referenced COUNTY, <br /> State of Colorado ("PUBLIC TRUSTEE"). <br /> FACTUAL RECITALS <br /> 1. The GRANTOR has executed a PROMISSORY Nom of even date and amount, set forth in the <br /> LOAN CONTRACT, for a loan in the TOTAL LOAN AMOUNT to be repaid to the BENEFICIARY, with <br /> TERMS OF REPAYMENT and in accordance with the PROMISSORY NOTE or until loan is paid in full. <br /> 2. The GRANTOR is desirous of securing payment of the TOTAL 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 <br /> grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described <br /> PLEDGED PROPERTY. <br /> To have and to hold the same, together with all appurtenances, in trust nevertheless, that <br /> in case of default in the payment of said PROMISSORY NOTE, or any part thereof, or the interest <br /> thereon, or in the performance of any covenants hereinafter set forth or in said PROMISSORY NOTE <br /> or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, said <br /> PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less than four weeks in some <br /> newspaper of general circulation in said COUNTY, shall sell said PLEDGED PROPERTY in the manner <br /> provided by law in effect at the time of filing said notice and demand, at public auction for cash, <br /> at any proper place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC <br /> TRUSTEE shall retain or pay first all fees, charges and costs and all moneys advanced for taxes, <br /> insurance and assessments, or on any prior encumbrance, with interest thereon and pay the <br /> principal and interest due on said PROMISSORY NOTE, rendering the overplus, if any, unto the <br /> GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE shall execute <br /> and deliver to the purchaser a deed to the PLEDGED PROPERTY sold. The BENEFICIARY may <br /> purchase said PLEDGED PROPERTY or any part thereof at such sale. <br /> The GRANTOR covenants that at the time of the delivery of these presents, it is well seized <br /> Appendix 6 <br /> Page 1 of 3 <br />
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