|
Deed of Trust �'
<br /> This indenture, made this 23 day of October 1996, between the Beaver Park Water, Inc., whose address
<br /> is P. 0. Box 286, 401 Broadway, Penrose, CO 81240, hereinafter referred to as GRANTOR, and the Public Trustee of the County of Fremont,
<br /> State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br /> 1,,,
<br /> Witnesseth, that whereas, GRANTOR has executed a promissory note, set forth in Contract #C153742 ("Contract") for a loan in the
<br /> principal sum of $750,000 to be repaid to the STATE OF COLORADO for the use and benefit of the Department of Natural Resources, Water
<br /> Conservation Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, with interest thereon from the date of first
<br /> disbursement of funds under the Contract at the interest rate of 3Y2% per annum, payable in 30 annual installments, in accordance with the
<br /> k�� Promissory Note Provision of said Contract, or until loan is paid in full.
<br /> z rn
<br /> And whereas, the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to the State of XI rn
<br /> Colorado.
<br /> to
<br /> D), rn
<br /> Now, therefore, the GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain, sell and y,
<br /> convey unto the said PUBLIC TRUSTEE in trust forever, to wit: the Brush Hollow Dam and Reservoir, all appurtenances thereon, and the land on H
<br /> which the Dam and Reservoir lie consisting of approximately 460.91 acres and described as follows: The following 4 parcels within Section H 1
<br /> 24, Township 18 South, Range 69 West of the 6'th Principal Meridian consisting of the acreages indicated: (1)NE% NEM (40.297 acres), (2) r1 i—'
<br /> SE% NE'% (40.271 acres), (3) NE'o SEX (40.497 acres), and (4) SE'1 SE% (40.47 acres); and the following 2 parcels within Section 25, C' N
<br /> Township 18 South, Range 69 West of the 6th Principal Meridian consisting of the acreages indicated: (1)NE% NE'e (40.436 acres) and(2)
<br /> N% SEM NE'a (30.244 acres);and the following 4 parcels within Section 19, Township 18 South, Range 68 West of the 6th Principal Meridian ,b
<br /> consisting of the acreages indicated: (1)NW% NW'e (40.394 acres), (2) SW'/o NW'e (40.155 acres), (3) NnSW'< (39872 acres), and(4) coI
<br /> Sin SW'o (39.598 acres);and the following 2 parcels within Section 30, Township 18 South, Range 68 West of the 6th Principal Meridian
<br /> 1\. consisting of the acreages indicated: (1)NW% NW'e (39.185 acres), and(2)N%SW% NW'o (29.410 acres), (collectively or hereinafter referred i .o
<br /> I to as the "Property"). tri
<br /> N 3
<br /> To have and to hold the same, together with all and singular the privileges and appurtenances thereunto belonging: In Trust N
<br /> nevertheless, that in case of default in the payment of said note, or any part thereof, or in the payment of the interest thereon, according to y o
<br /> Ithe tenor and effect of said note or in the payment of any prior encumbrances, principal or interest, if any, or in case default shall be made in 1°
<br /> or in case of violation or breach of any of the terms, conditions, covenants or agreements contained in the Contract, the beneficiary hereunder 0 ►—
<br /> • may declare a violation of any of the covenants contained in the Contract and elect to advertise said Property for sale, and demand such sale z ,0
<br /> z ,o
<br /> by filing a notice of such election and demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, c
<br /> the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the recorder's office of the county in which said Property is situated, it ,< o
<br /> shall and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE N
<br /> may think best), and all the right, title and interest of the GRANTOR, its successors or assigns therein, at public auction at such time and at such O n .
<br /> w
<br /> location as shall be designated in the PUBLIC TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in cash, four weeks O ro
<br /> public notice having been previously given of the time and place of such sale, advertisement once each week for five consecutive weeks, in some
<br /> newspaper of general circulation at that time published in said County of Fremont, a copy of which notice shall be mailed within ten days from Uy ro
<br /> k .s. the date of the first publication thereof to the GRANTOR at the address herein given and to such person or persons appearing to have acquired d 0
<br /> \AUT a subsequent record interest in said Property at the address given in the recorded instrument; where only the county and state is given as the O 1
<br /> address then such notice shall be mailed to the county seat, and to make and give to the purchaser of the Property at such sale, a certificate
<br /> in writing describing the Property purchased, and the sum paid therefor, and the time when the purchaser (or other person entitled thereto) shall
<br /> be entitled to the doed therefor, unless the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE sha!! upon demand by the `"1
<br /> person holding the said certificate of purchase, when said demand is made, or upon demand by the person entitled to a deed to and for the
<br /> Property purchased, at the time such demand is made, the time for redemption having expired, make and execute to such person a deed tri the
<br /> Property purchased, which said deed shall be in the ordinary form of a conveyance, and shall be signed, acknowledged and delivered'by the said
<br /> PUBLIC TRUSTEE and shall convey and quitclaim to such person entitled to such deed, the Property purchased as aforesaid and all the right. title, E., z
<br /> interest, benefit and equity of redemption of the GRANTOR, its successors and assigns made therein, and shall recite the sum for which the said l✓ t>i
<br /> N� Property was sold and shall refer to the power of sale therein contained, and to the sale made by virtue thereof; and in case of an assignment o n
<br /> of such certificate of purchase, or in case of the redemption of the Property, by a subsequent encumbrancer, such assignment or redemption o
<br /> shall also be referred to in such deed; but the notice of sale need not be set out in such deed and the PUBLIC TRUSTEE shall, out of the proceeds
<br /> or avails of such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary hereunder the
<br /> principal and interest due on said note according to the tenor and effect thereof, and all moneys advanced by such beneficiary or legal holder d
<br /> O
<br /> of said note for insurance, taxes and assessments, with interest thereon at ten per cent per annum, rendering the surplus, if any, unto the n
<br /> 4
<br /> GRANTOR, its legal representatives or assigns; which sale and said deed so made shall be a perpetual bar, both in law and equity, against the
<br /> GRANTOR, its successors and assigns, and all other persons claiming the Property, or any part thereof, by, from, through or under the GRANTOR,
<br /> or any of them. The holder of said note may purchase Property or any part thereof; and it shall not be obligatory upon the purchaser at any
<br /> such sale to see to the application of the purchase money.
<br /> And the GRANTOR, for itself and its successors or assigns covenants and agrees to and with the PUBLIC TRUSTEE, that at the time of ._
<br /> the unsealing of and delivery of these presents, it is well seized of the Property in fee simple, and has good right, full power and lawful authority
<br /> to grant, bargain, sell and convey the same in the manner and form as aforesaid; hereby fully and absolutely waiving and releasing all rights and
<br /> APPENDIX C to Contract #C153742
<br /> C�,a
<br />
|