C150083 PIF

• Contract/PO #: C150083
• Contractor Name: John Peroulis and Sons Partnership
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

08/21/2002 11 : 20 REC FEE : $20 . 00 PAGE # : 0001 OF 0004
MOFFAT COUNTY, CO, BEVERLY JOHNSON - CLERK/RECORDER DOCU# : 2002L 3734 **
p weft 11 Ilk IIL
FouLui
DEED OF TRUST
This indenture, made this August 1, 2002, between John Peroulis and Sons, a
Colorado general partnership, whose address is P.O. Box 1015, Craig, CO 81626,
hereinafter referred to as GRANTOR, and the Public Trustee of the County of Moffat, State
of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
Witnesseth, that whereas, GRANTOR has executed a promissory note, dated August
1, 2002, set forth in Contract No. C150083 dated August 1, 2002 (the Contract) for a loan
in the principal sum of $250,000 to be repaid to the STATE OF COLORADO for the use
and benefit of the Department of Natural Resources, Water Conservation Board, whose
address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, with interest
thereon from the date of first disbursement of funds under the Contract at the effective
interest rate of 3.0% per annum, payable in 30 annual insifirlripiAggWel with the
terms of the Promissory Note, or until loan is paid in full.
And whereas, the GRANTOR is desirous of sew,ing p f the prindipai and
interest of said promissory note to the State of Colorado. �
M ,
l LM'
Now, therefore, the GRANTOR, in consideration of:t, , i #ori purpose
aforesaid, does hereby grant, bargain, sell and convey'unto the said PUBLIC "Tr2USTEE in
trust forever, to wit: an undivided 100% interest in the following: (1) Martin Cull Reservoir,
the land on which it is located consisting of 80 acres described as the SE4 of the SW4 and
the SW4 of the SE4, Section 9, (2) the water rights to fill the reservoir described as 250 AF
appropriated November 1, 1954 and adjudicated December 31, 1974 in Court Case W620-
74, (3) 120 acres, more or less, described as the SW4 of the SE4 of Section 8, SE4 of the
SE4 of Section 8, the SW4 of the SW4 of Section 9, and (4) 157.66 acres, more or less,
described as NW/4 NE/4, SW/4 NE/4, NW/4 SE/4 and the SW/4 SE/4 of Section 17,
Township 10 North, Range 90 West 6th PM hereinafter referred to as "the Property."
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 PUBLIC 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
(en 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 each
week for five consecutive weeks, in some newspaper of general circulation at that time
Appendix 4 to Loan Contract C150083