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
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