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DEED OF TRUST <br /> DATE: July 31, 2017 <br /> GRANTOR: CORSENTINO DAIRY FARMS,INC. <br /> BENEFICIARY: COLORADO WATER CONSERVATION BOARD <br /> COUNTY: HUERFANO <br /> TOTAL LOAN AMOUNT: $85,446.o0 <br /> LOAN CONTRACT NUMBER: CT2o18-98o <br /> TERMS OF REPAYMENT: 0.5%INTEREST FOR 10 YEARS <br /> PLEDGED PROPERTY: COLLATERAL AT A VALUE OF no PERCENT (110%) OF THE BORROWED <br /> AMOUNT. THIS LOAN REQUIRES $93,o6o.00 IN COLLATERAL VALUE. <br /> COLLATERAL FOR THIS LOAN WILL BE THE CORSENTINO DAIRY FARM LAND <br /> AND 93.12%INTEREST IN THE HOLITA RESERVOIR AND ASSOCIATED WATER <br /> RIGHTS. SEE ATTACHED LEGAL DESCRIPTION ATTACHED AS EXHIBIT A AND <br /> ATTACHMENT B, TO THIS DEED OF TRUST, AND RECORDED WITH <br /> HUERFANO COUNTY,RECORDING NUMBER 36135. <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 <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 purchase <br /> said PLEDGED PROPERTY or any part thereof at such sale. <br /> Appendix 5 <br /> Page 1 Of 3 <br />