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APPENDIX 6, DEED OF TRUST <br /> Date: March 6,2018 <br /> Grantor: Bonus Ditch Company <br /> Beneficiary: Colorado Water Conservation Board <br /> County: Boulder <br /> Total Loan Amount: $1,309,970.00 <br /> Loan Contract Number: CT2018-2081 <br /> Terms of Repayment: 2.90%interest for 30 years <br /> Pledged Property: An undivided one-hundred percent interest in The Bonus Ditch St. Vrain Intake <br /> Structure and the Bonus Ditch Left Hand Creek Headgate Structure, both <br /> located in the SW 1/4 of the NW 1/4 of Section 11, Township 2 North, Range <br /> 69 West of the 6th P.M.,Boulder County. <br /> This indenture is between the Grantor, and the Public Trustee of the above referenced County, State of <br /> Colorado("Public Trustee"). <br /> FACTUAL RECITALS <br /> i. The Grantor has executed a Promissory Note of even date and amount, set forth in the Loan Contract, for a <br /> loan in the Total Loan Amount to be repaid to the Beneficiary, with Terms of Repayment and in accordance <br /> with the Promissory Note or until loan is paid in full. <br /> 2. The Grantor is desirous of securing payment of the Total Loan Amount and interest of said Promissory Note to <br /> the Beneficiary. <br /> The Grantor, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain, sell <br /> and convey unto the said Public Trustee in trust forever,the above described Pledged Property. <br /> To have and to hold the same,together with all appurtenances,in trust nevertheless,that in case of default in <br /> the payment of said Promissory Note,or any part thereof,or the interest thereon,or in the performance of any <br /> covenants hereinafter set forth or in said Promissory Note or Loan Contract,then upon the Beneficiary filing notice <br /> of election and demand for sale,said Public Trustee,after advertising notice of said sale weekly for not less than <br /> four weeks in some newspaper of general circulation in said County,shall sell said Pledged Property in the manner <br /> provided 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 retain or pay first <br /> all fees,charges and costs and all moneys advanced for taxes,insurance and assessments,or on any prior <br /> encumbrance,with interest thereon and pay the principal and interest due on said Promissory Note,rendering the <br /> overplus,if any,unto the Grantor;and after the expiration of the time of redemption,the Public Trustee shall <br /> execute and deliver to the purchaser a deed to the Pledged Property sold. The Beneficiary may purchase said <br /> Pledged Property or any part thereof at such sale. <br /> The Grantor covenants that at the time of the delivery of these presents,it is well seized of the Pledged <br /> Property in fee simple,and has full power and lawful authority to grant,bargain,sell and convey the same in the <br /> manner and form as aforesaid. The Grantor fully waives and releases all rights and claims it may have in or to said <br /> Pledged Property as a Homestead Exemption or other exemption,now or hereafter provided by law. The Grantor <br /> further covenants that the Pledged Property is free and clear of all liens and encumbrances whatever and that the <br /> Grantor shall warrant and forever defend the Pledged Property in the quiet and peaceable possession of the Public <br /> Trustee,its successors and assigns,against all and every person or persons lawfully claiming or to claim the whole <br /> or any part thereof. <br /> Until payment in full of the indebtedness,the Grantor shall timely pay all taxes and assessments levied on the <br /> Pledged Property;any and all amounts due on account of the principal and interest or other sums on any senior <br /> encumbrances,if any;and will keep the Pledged Property insured in accordance with the requirements of the Loan <br /> Contract. In the event of the sale or transfer of the Pledged Property,the Beneficiary,at its option,may declare the <br /> entire balance of the note immediately due and payable. <br /> Page 1 of 3 <br /> Contract Number:CT2018-2081 <br />