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Recorded at o'clock M., <br /> R ception No. Recorder <br /> DEED OF TRUST <br /> THIS INDENTURE, made of ary , eTE TOWN OF , whos1 <br /> S i Hill Road, P.O. Box 168, Breckenridgethis day, ColoradoJnua804241996, hereinafterbetwen referredHOto as GRANTOR, and BRECKENRIDGEthe Publice Trusteeaddress os the <br /> C unty of SUMMIT, Colorado, hereinafter referred to as PUBLIC TRUSTEE, <br /> WITNESSETH,State THATof , WHEREAS, GRANTOR has executed a promissorynote, set forth in Contract #C153351 ("the <br /> C ntract"), as amended, for a loan in the principal sum of ONE MILLION TWO HUNDRED THOUSAND Dollars (S1,200,000), to <br /> be,repaid to the STATE OF COLORADO for the use and benefit of the Department of Natural Resources,Water Conservation Board, <br /> whose address is 1313 Sherman Street,Room 721,Denver,Colorado 80203,with interest thereon in accordance with the Contract <br /> at the rate of four percent (4%) per annum, payable in forty (40) annual installments, 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 <br /> State of Colorado . <br /> NOW, THEREFORE, the GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant, <br /> bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever,the following described property,situated in the County of <br /> SUMMIT, Colorado, to wit: <br /> 1. Property described in Appendix A <br /> 2. Property shown on map attached as Appendix B, <br /> 'co lectively 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: <br /> In st nevertheless, that in case of default in the payment of said note, or any part thereof, or in the payment of the interest <br /> the on, according to the tenor and effect of said note or in the payment of any prior encumbrances, principal or interest, if any, <br /> or i case default shall be made in or in case of violation or breach of any of the terms, conditions, covenants or agreements <br /> co ained in the Contract,the beneficiary hereunder may declare a violation of any of the covenants contained in the Contract and <br /> Bleat to advertise said Property for sale, and demand such sale by filing a notice of such election and demand for sale with the <br /> PUB IC TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same <br /> to .e recorded in the recorder's office of the county in which said Property is situated, it shall and may be lawful for the PUBLIC <br /> TRU. EE to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE may think best), and all the <br /> righ ,title and interest of the GRANTOR,its successors or assigns therein,at public auction at such time and at such location as shall <br /> be .esignated in the PUBLIC TRUSTEE'S Notice of Sale,for the highest and best price the same will bring in cash,four weeks public <br /> noti e having been previously given of the time and place of such sale, advertisement once each week for five consecutive weeks, <br /> in s.me newspaper of general circwa:ion at that time published in said County of Summit, a copy of which notice shall be mailed <br /> wit in ten days from the date of the first publication thereof to the GRANTOR at the address herein given and to such person or <br /> per-onsappearing to have acquired a subsequent record interest in said Property at the address given in the recorded instrument; <br /> wh:re only the county and state is given as the address then such notice shall be mailed to the county seat,and to make and give <br /> to t e purchaser of the Property at such sale, a certificate in writing describing the Property purchased, and the sum paid therefor, <br /> and he time when the purchaser(or other person entitled thereto) shall be entitled to the deed therefor, unless the same shall be <br /> red"med as is provided by law;and said PUBLIC TRUSTEE shall, upon demand by the person holding the said certificate of purchase, <br /> wh: said demand is made, or upon demand by the person entitled to a deed to and for the Property purchased, at the time such <br /> demand is made, the time for redemption having expired, make and execute to such person a deed to the Property purchased, <br /> whi. said deed shall be in the ordinary form of a conveyance,and shall be signed, acknowledged and delivered by the said PUBLIC <br /> TRU•TEE and shall convey and quitclaim to such person entitled to such deed,the Property purchased as aforesaid and all the right, <br /> title, interest, benefit and equity of redemption of the GRANTOR, its heirs and assigns made therein, and shall recite the sum for <br /> whi.h the said Property was sold and shall refer to the power of sale therein contained, and to the sale made by virtue thereof; <br /> and ,a case of an assignment of such certificate of purchase, or in case of the redemption of the Property, by a subsequent <br /> enc rmbrancer, such assignment or redemption shall also be referred to in such deed; but the notice of sale need not be set out <br /> in s eh deed and the PUBLIC TRUSTEE shall, out of the proceeds or avails of such sale, after first paying and retaining all fees, <br /> 'har.es and costs of making said sale, pay to the beneficiary hereunder the principal and interest due on said note according to <br /> the ienor and effect thereof, and all moneys advanced by such beneficiary or legal holder of said note for insurance, taxes and <br /> asse.sments, with interest thereon at ten per cent per annum, rendering the surplus, if any, unto the GRANTOR, its successors or <br /> assi.ns; which sale and said deed so made shall be a perpetual bar, both in law and equity, against the GRANTOR, its successors <br /> and ssigns, and all other persons claiming the Property, or any part thereof, by, from, through or under the GRANTOR, or any of <br /> the The holder of said note may purchase Property or any part thereof; and it shall not be obligatory upon the purchaser at any <br /> such sale to see to the application of the purchase money. <br /> And the GRANTOR, for itself and its successors or assigns .ce t R ..-es to and with the PUBLIC TRUSTEE, that at <br /> the t me of the unsealing of and delivery of these presents it is w�( sejz €. Q y in fee simple, and has good right, full <br /> pow:r and lawful authority to grant, bargain, sell and convey the(Si'- in the rl nd form as aforesaid; hereby fully and <br /> abso utely waiving and releasing all rights and claims it may haveor to said Pr eas a Homestead Exemption, or other <br /> exe ption, under and by virtue of any act of the General Asseiinblyf o ,�f theOjtate of To :.o, or as any exemption under and by <br /> i.. <br /> � <br /> • <br /> , c,-,,‘ C'AMCfT <br /> ATTACHM T 3 A? <br />