C153542 Paid in Full Documents

• Contract/PO #: C153542
• Contractor Name: County of Montrose
• Contract Type: Loan
• Loan Projects - Doc Type: Repayment Information

Recorded at 1 :30 o'clock '• M., April 13, 1990 0'7. .. ,-200
Reception No. 562125 Ruth E. Heath NU ` �""
Recoruer.
DEED OF TRUST
THIS DEED OF TRUST, Dated , between
FRUITLAND IRRIGATION COMPANY, A COLORADO CORPORATION
the grantor herein,whose address is Route 1, Box 34, Crawford,"CO 81415
of the
*County of Delta and State of Colorado, and
the PUBLIC TRUSTEE of the County or City and County in which the property described
below is situated,in the State of Colorado,
Witness:
;i The grantor,to secure a promissory note or notes,hereinafter referred to in the singular,dated May 9, 1989 ,
t,A for the total principal s OE HUNDRED SIXTY EIGHT THOUSAND FIVE HUNDRED FORTY—NINE AND dollars,
r 3 �+�"'00 ($168,549.45)
payable to the order of STATE OF COLORADO FORTE USE AND BENEFIT OF THE DEPARTMENT OF NATU L '
' the beneficiaryherein, whose address is
RESOURCES (COLORADO WATER CONSERVATION BOARD
ti � ,after the date thereof, .
I with interest thereon from the date thereof at the rate of 5% percent per annum,principal and interest payable
c in annual installments of $9,822.75 each, for forty (40) years, due and payable
in 20 •
does hereby grant and convey unto said Public Trustee the following described property,situate in the County
of Ma n t -OS e , State of Colorado,to wit:
An ur4ivided fifty percent (50%) of the Onion Valley Dam
(Gould Reservoir) , including the -walkway-, inlet and outlet
works with all appurtenances, turnout structures and underlying land.
I
also known by street and number as
1
TO HAVE AND TO HOLD the same together with all appurtenances,in trust nevertheless,that in case of default in the payment of said note or any part thereof or interest
thereon,or in the performance of any covenants hereinafter set forth,then upon the beneficiary(note holder)filing notice of election and demand for sale,said Public Trustee,
after advertising notice of said sale weekly,for not less than four weeks,in some newspaper of general circulation in said county,shall sell said property in the manner provided
by law in effect at the time of filing said notice and demand,at public auction for cash,at any proper place designated in the notice of sale.Out of the proceeds of said sale said
Trustee shall retain or pay first all fees,charges and costs and all moneys advanced for taxes,insurance and assessments,or on any prior encumbrance,with interest thereon,and
pay the principal and interest due on said note,rendering the overplus(if any)unto the grantor;and after the expiration of the time of redemption,said Trustee shall execute and
deliver to the purchaser a deed to the property sold.The beneficiary may purchase said property or any part thereof at such sale.
The grantor covenants that at the time of delivery of these presents,he is seized of said property in fee simple,and that said property is free of encumbrances,except
except all rights—of—way, reservations, restrictions, easements, covenants and I
conditions, visible and of record, and except 1990 taxes payable in 1991.
The grantor also covenants that he will keep all buildings insured with a company approved by the beneficiary for fire and extended coverage in an amount equal to the unpaid
balance of said note with loss payable to the beneficiary,will deliver a copy of the policy to the beneficiary and will pay all taxes and assessments against said property and
amounts due on prior encumbrances.If grantor shall fail to pay insurance premiums.taxes or amounts due on prior encumbrance,the beneficiary may pay the same and all
amounts shall become additional indebtedness due hereunder;and in case of foreclosure,he will pay an attorney's fee of a reasonable amount.
I Should the beneficiary hereunder be made a party to any action affecting this deed of trust or the title to said property,the grantor agrees that all court costs and a reasonable
attorney's fee paid by the beneficiary shall become additional indebtedness due hereunder;and the grantor does hereby release and waive all claims in said property as a
homestead exemption or other exemption now or hereafter provided by law.
It is agreed that in case of default in payment of said principal or interest or a breach of any of the covenants herein,then said principal sum hereby secured and interest thereon •
may at the option of the beneficiary become due and payable at once,anything in said note to the contrary notwithstanding and possession of said property will thereupon be
delivered to the beneficiary,and on failure to deliver such possession the beneficiary shall be entitled to a receiver for said property,who may be appointed by any court of
competent jursidiction.
Whenever used herein the singular number shall include the plural,the plural the singular,and the use of any gender shall be applicable to all genders.All of the covenants
herein shall be binding upon the respective heirs,personal representatives,successors and assigns of the parties hereto.
Executed the day and year first above written. FRUITLAND� /�IRRIGAcTIION COMPANY
By: dI.GP1i7-2, l
Norbert H. Jac so / ()President
B .
William J. Mu rd ler.Lc/Secretar
STATE OF COLORADO
1 ss.
County of Delta
The foregoing instrument was acknowledged before me this 1 3 ` day of , 1990 ,
1 by Norbert H. Jackson as President and William J. Mugford as Secretary.
�.L., 1
i My commission expires /oc "a 3 -9/ WAtte-5s my hand and official seal.
1
k s, 7 -__1 - Notary.P.ublliic�-�.� n 1
,D ,1 4.� i,,t- /Ya e-,....Public"--P Cis. oz/y A
Address
I *If in Denver,insert"City and." %,, . •
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is ti—
No.923B.Rev.6-85. DEED OF TRUST(Public'hustee)without Due on Sale Clause /
Bradford Publishing,1743 Wazee St.,Denv4 CO 80202—[phone]--3-89