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<br /> 10/28/2002 11 : 30 REC FEE : $15. 00 PAGE # : 0001 OF 0003
<br /> MOFFAT COUNTY, CO, BEVERLY JOHNSON - CLERK/RECORDER DOCU# : 2002L 4852 **
<br /> J'PAID IN FULL" DEED OF TRUST
<br /> This indenture, made this August 1, 2002, between Peroulis Brothers, a Colorado
<br /> limited liability company formed pursuant to the Articles of Organization dated July 26, 1991
<br /> and operated pursuant to Operating Agreement dated September 10, 1991, incorporated
<br /> herein by reference, whose address is 1600 E U.S. 40, P. O. Box 355, Craig, CO 81626,
<br /> hereinafter referred to as GRANTOR, and the Public Trustee of the County of Moffat, State of
<br /> Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br /> Witnesseth, Peroulis & Sons executed a promissory note dated August 1, 2002, set
<br /> forth in Contract No. C150083 dated August 1, 2002 (the Contract) for a loan in the principal
<br /> sum of $250,000 from the Colorado Water Conservation Board, 1313 Sherman Stre tr_ RQQD3.
<br /> 721, Denver, Colorado 80203, to be paid pursuant to the terms and conditigrjs, *Pb 'n
<br /> promissory note and contract, and the GRANTOR has pledged the following described property
<br /> to secure payment of the principal and interest of said promissory no e.
<br /> MAR OC '
<br /> Now, therefore, the GRANTOR, in consideration of the pre ises anfor the purpose,(!
<br /> aforeaforesaid does hereby grant, bargain, sell and convey unto the s Pi s in T in trust
<br /> said,Va...,w.... � . ah Id a.ULif,J�y W,���� .
<br /> forever, to wit: an undivided 100% interest in the following: 15 AietidittrYotkrec,or„,Wess,
<br /> described as NW/4 NE/4, SW/4 NE/4, NW/4 SE/4 and the SW/4 SE/4 of Section 17, Township
<br /> 10 North, Range 90 West 6th PM hereinafter referred to as "the Property.”
<br /> To have and to hold the same, together with all and singular the privileges and
<br /> appurtenances thereunto belonging: In Trust nevertheless, that in case of default in the
<br /> payment of said note, or any part thereof, or in the payment of the interest thereon, according to
<br /> the tenor and effect of said note or in the payment of any prior encumbrances, principal or
<br /> interest, if any, or in case default shall be made in or in case of violation or breach of any of the
<br /> terms, conditions, covenants or agreements contained in the Contract, the beneficiary
<br /> hereunder may declare a violation of any of the covenants contained in the Contract and elect
<br /> to advertise said Property for sale, and demand such sale by filing a notice of such election and
<br /> demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand
<br /> for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the recorder's
<br /> office of the county in which said Property is situated, it shall and may be lawful for the PUBLIC
<br /> TRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC
<br /> TRUSTEE may think best), and all the right, title and interest of the GRANTOR, its successors or
<br /> assigns therein, at public auction at such time and at such location as shall be designated in the
<br /> PUBLIC TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in cash, four
<br /> weeks public notice having been previously given of the time and place of such sale,
<br /> advertisement once each week for five consecutive weeks, in some newspaper of general
<br /> circulation at that time published in said county, a copy of which notice shall be mailed within
<br /> ten days from the date of the first publication thereof to the GRANTOR at the address herein
<br /> given and to such person or persons appearing to have acquired a subsequent record interest
<br /> in said Property at the address given in the recorded instrument; where only the county and
<br /> state is given as the address then such notice shall be mailed to the county seat, and to make
<br /> and give to the purchaser of the Property at such sale, a certificate in writing describing the
<br /> Property purchased, and the sum paid therefor, and the time when the purchaser (or other
<br /> person entitled thereto) shall be entitled to the deed therefor, unless the same shall be
<br /> redeemed as is provided by law; and said PUBLIC TRUSTEE shall, upon demand by the person
<br /> holding the said certificate of purchase, when said demand is made, or upon demand by the
<br /> person entitled to a deed to and for the Property purchased, at the time such demand is made,
<br /> the time for redemption having expired, make and execute to such person a deed to the
<br /> Property purchased, which said deed shall be in the ordinary form of a conveyance, and shall
<br /> be signed, acknowledged and delivered by the said PUBLIC TRUSTEE and shall convey and
<br /> Appendix 4b to Loan Contract C150083
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