|
T
<br /> IkWr I1IR111111'EIIIIII till
<br /> 20041108001127950 Adams Co 1/2
<br /> 11/08/2004 02:27 51PM $ 00
<br /> Carol Snyder;Clerk $11 00
<br /> Deed of Trust
<br /> DATE: April 1, 2004 `}
<br /> GRANTOR: The Fulton Irrigating Ditch Company �S
<br /> BENEFICIARY: Colorado Water Conservation Board ,
<br /> COUNTY: Adams County
<br /> PRINCIPAL LOAN AMOUNT: $171,700.00
<br /> LOAN CONTRACT: Loan Contract No. C150168, dated April 1, 2004
<br /> TERMS OF REPAYMENT: 2.80% per annum for 20 years
<br /> COLLATERAL: An undivided one-hundred percent interest in the diversion and
<br /> headgate structures of the Fulton Irrigating Ditch Company,
<br /> diverting from the South Platte River and located in the NE1% SE1%
<br /> of Section 17, Township 2 South, Range 67 West, 6th P.M., Adams
<br /> County, at a point approximately 2,815 feet south and 145 feet west
<br /> of the northeast corner of said Section 17.
<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 LOAN
<br /> CONTRACT, for a loan in the PRINCIPAL 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 PRINCIPAL LOAN AMOUNT and interest of
<br /> said 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 /> COLLATERAL.
<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 or
<br /> 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 COLLATERAL in the manner provided
<br /> by law in effect at the time of filing said notice and demand, at public auction for cash, at any proper
<br /> place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall
<br /> retain or pay first all fees, charges and costs and all moneys advanced for taxes, insurance and
<br /> assessments, or on any prior encumbrance, with interest thereon and pay the principal and interest
<br /> due on said Promissory Note, rendering the overplus, if any, unto the GRANTOR; and after the
<br /> expiration of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser
<br /> a deed to the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part
<br /> thereof at such sale.
<br /> The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of
<br /> the COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and
<br /> convey the same in the manner and form as aforesaid. The GRANTOR fully waives and releases all
<br /> rights and claims it may have in or to said COLLATERAL as a Homestead Exemption or other
<br /> exemption, now or hereafter provided by law. The GRANTOR further covenants that the collateral is
<br /> free and clear of all liens and encumbrances whatever and that the GRANTOR shall warrant and
<br /> Appendix 5 to Loan Contract C150168
<br />
|