C153351 Paid in Full Documents

• Contract/PO #: C153351
• Contractor Name: Town of Breckenridge
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Recorded at o'clock M.,
Reception No. Recorder
DEED OF TRUST 0 1
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THIS INDENTURE, made this'_day of January 1996,between THE TOWN OF BRECKENRIDGE, whose address is 150 r--
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Ski Hill Road, P.O. Box 168, Breckenridge, Colorado 80424, hereinafter referred to as GRANTOR, and the Public Trustee of the co
County of SUMMIT, State of Colorado, hereinafter referred to as PUBLIC TRUSTEE, to
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WITNESSETH, THAT, WHEREAS, GRANTOR has executed a promissory note, set forth in Contract #C153351 ("the
Contract"), as amended, for a loan in the principal sum of ONE MILLION TWO HUNDRED THOUSAND Dollars ($1,200,000), to I W
be repaid to the STATE OF COLORADO for the use and benefit of the Department of Natural Resources,Water Conservation Board, II
whose address is 1313 Sherman Street,Room 721,Denver,Colorado 80203,with interest thereon in accordance with the Contract c 'di; ;
at the rate of four percent (4%) per annum, payable in forty (40) annual installments, or until loan is paid in full. a
AND WHEREAS,the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to the r+
State of Colorado .
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NOW, THEREFORE, the GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant,
bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever,the following described property, situated in the County of '`
SUMMIT, Colorado, to wit: s
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1. Property described in Appendix A (D
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2. Property shown on map attached as Appendix B, a
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(collectively or hereinafter referred to as "the Property"). -1
TO HAVE AND TO HOLD the same,together with all and singular the privileges and appurtenances thereunto belonging:
In Trust nevertheless, that in case of default in the payment of said note, or any part thereof, or in the payment of the interest
thereon, according to the tenor and effect of said note or in the payment of any prior encumbrances, principal or interest, if any,
or in case default shall be made in or in case of violation or breach of any of the terms, conditions, covenants or agreements
contained in the Contract,the beneficiary hereunder may declare a violation of any of the covenants contained in the Contract and
elect to advertise said Property for sale, and demand such sale by filing a notice of such election and demand for sale with the
Punic TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE shall cause a copy of the 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 PUBLIC
TRUSTEE to sell and dispose of the same len masse or in separate parcels, as the said PUBLIC TRUSTEE may think best), and all the
right,title and interest of the GRANTOR,its successors or assigns therein,at public auction at such time and at such 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,four weeks public
notice having been previously given of the time and place of such sale,advertisement once ea:h week for five consecutive weeks,
in some newspaper of general circwa'-ion at that time published in said County of Summit, a copy of which notice shall be mailed
within ten days from the date of the first publication thereof to the GRANTOR at the address herein given and to such person or
persons appearing to have acquired a subsequent record interest in said Property at the address given in the recorded instrument;
where 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
to the purchaser of;the Property at such sale,a certificate in writing describing the Property purchased,and the sum paid therefor,
and the time when the purchaser(or other person entitled thereto)shall be entitled to the deed therefor, unless the same shall be
redeemed as is provided by law;and said PUBLIC TRUSTEE shall,upon demand by the person holding the said certificate of purchase,
when said demand is made, or upon demand by the person entitled to a deed to and for the Property purchased, at the time such
demand is made, the time for redemption having expired, make and execute to such person a deed to the Property purchased,
which said deed shall be in the ordinary form of a conveyance,and shall be signed, acknowledged and delivered by the said PUBLIC
TRUSTEE and shall convey and quitclaim to such person entitled to such deed,the Property purchased as aforesaid and all the right,
title, interest, benefit and equity of redemption of the GRANTOR, its heirs and assigns made therein, and shall recite the sum for
• which the said Property was sold and shall refer to the power of sale therein contained, and to the sale made by virtue thereof;
and in case of an assignment of such certificate of purchase, or in case of the redemption of the Property, by a subsequent
encumbrancer, such assignment or redemption shall also be referred to in such deed; but the notice of sale need not be set out
in such deed and the PUBLIC TRUSTEE shall, out of the proceeds or avails of such sale, after first paying and retaining all fees,
charges and costs of making said sale, pay to the beneficiary hereunder the principal and interest due on said note according to
the tenor and effect thereof, and all moneys advanced by such beneficiary or legal holder of said note for insurance, taxes and
assessments, with interest thereon at ten per cent per annum, rendering the surplus, if any, unto the GRANTOR,its successors or
assigns; which sale and said deed so made shall be a perpetual bar, both in law and equity, against the GRANTOR, its successors
and assigns, and all other persons claiming the Property, or any part thereof, by, from, through or under the GRANTOR, or any of
them. The holder of said note may purchase Property or any part thereof;and it shall not be obligatory upon the purchaser at any
such sale to see to the application of the purchase money.
And the GRANTOR, for itself and its successors or assigns q,r e � •R. s.-es to and with the PUBLIC TRUSTEE,that at
the time of the unsealing of and delivery of these presents it is well Satz` f. Qp_ ty in fee simple, and has good right, full
power and lawful authority to grant, bargain, sell and convey the(S;'i'' in the a -nd form as aforesaid; hereby fully and
absolutely waiving and releasing all rights and claims it may !`aveJ� or to said Pr a a. as a Homestead Exemption, or other
exemption, under and by virtue of any act of the General Asse(nbly(of thej to of -)o :•o, or as any exemption under and by
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