Laserfiche WebLink
APPENDIX 6, DEED OF TRUST <br /> Date: July 27,2018 <br /> Grantor: Missouri Heights Mountain Meadow Irrigation Company <br /> Beneficiary: Colorado Water Conservation Board <br /> County: Eagle <br /> Total Loan Amount: $303,000.00 <br /> Loan Contract Number: CT2019-2241 <br /> Terms of Repayment: 2.05%per annum interest for 30 years <br /> Pledged Property: An undivided one-hundred percent interest in the Ditch Piping Phase B Project, <br /> consisting of approximately 4,280 linear feet of piping of the Mountain <br /> Meadow Ditch commencing in the NW 1/4 of the NW 1/4 of Section 22, <br /> Township 7 South,Range 87 West of the P.M.and ending at the SW 1/4 of the <br /> SE 1/4 of Section 16,Township 7 South,Range 87 West of the P.M., in Eagle <br /> County. The Ditch exists under a prescriptive ditch easement. This deed of trust <br /> shall not be construed to encumber the fee ownership of the property over <br /> which the Ditch Piping Phase B Project and the prescriptive ditch easement is <br /> located. <br /> This indenture is between the Grantor,and the Public Trustee of the above referenced County,State of Colorado <br /> ("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 loan <br /> in the Total Loan Amount to be repaid to the Beneficiary,with Terms of Repayment and in accordance with the <br /> 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 and <br /> 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 /> Page 1 of 3 <br /> Contract Number:CT2019-2241 <br /> Appendix 6 <br />