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08/19/2002 09 : 00 REC FEE: $15. 00 PAGE # : 0001 OF 0003 <br /> MOFFAT COUNTY, CO, BEVERLY JOHNSON - CLERK/RECORDER DOCU# : 2002L 3674 ** <br /> Loan No. F-197679/j1b <br /> Loan No. F-197679.02 <br /> * CORRECTED * <br /> SUBORDINATION AGREEMENT <br /> THIS AGREEMENT made as of the 15th day of August, 2002, between THE <br /> EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES (hereinafter <br /> referred to as the "Undersigned"), and COLORADO WATER CONSERVATION <br /> BOARD, having its principal place of business at 1313 SHERMAN STREET, ROOM <br /> 721, DENVER, COLORADO 80203, (hereinafter referred to as the "Lender"). <br /> WITNESSETH: <br /> WHEREAS, JOHN PEROUL;S & SONS have applied to the Lender for a loan in <br /> the amount of THREE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS <br /> ($350,000.00), to be evidenced by a Note in that amount of even date herewith and <br /> secured by deeds of trust of even date herewith (hereinafter referred to as the <br /> "Mortgage") covering the following premises situate in MOFFAT COUNTY, <br /> COLORADO: <br /> TOWNSHIP 10 NORTH, RANGE 90 WEST OF THE 6TH P.M. <br /> Section 8: SW 1/4 SE 1/4, SE 1/4 SE 1/4 <br /> Section 9: SE 1/4 SW 1/4, SW 1/4 SE 1/4, SW 1/4 SW 1/4 <br /> WHEREAS, the Undersigned is the holder of the following mortgage, lease, <br /> contract of sale, judgment or other encumbrance (hereinafter referred to as the <br /> "Encumbrance"): <br /> LOAN NO. F-197679 <br /> Deed of Trust recorded in Moffat County, Colorado on 2/19/99 as Document <br /> #1999L 691 and Deed of Trust recorded in Routt County, Colorado on 2/18/99 in <br /> Book 755, Page 852 as Document #506359 <br /> LOAN NO. F-197679.02 <br /> Deed of Trust recorded in Moffat County, Colorado on 10/23/00 as Document <br /> #2000L 4287 and Deed of Trust recorded in Routt County, Colorado on 10/25/00 <br /> as Document #535162 <br /> WHEREAS, to induce the Lender to make said loan, the Undersigned has <br /> agreed with the Lender to subordinate to the lien of the Mortgage all right, title and <br /> interest of the Undersigned, including the Encumbrance, in and to all or any part of said <br /> premises; <br /> WHEREAS, this Subordination Agreement is subject to existing ranch roads for <br /> ingress and ingress through the property being subordinated; <br /> Appendix 5 to Loan Contract C150083 <br />