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,, , 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, 6iii
<br /> aWitnesseth, that whereas, GRANTOR has executed a promissory note, set forth in Contras C153 /(Cf nt t'Tfo, .�Jl�n in the
<br /> principal sum of $750,000 to be repaid to the STATE OF COLORADO for the use and benefit of the eprAn{ t tatu . V' '• es,-Nater`
<br /> Conservation Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, with interest th Mm the d�grst
<br /> disbursement of funds under the Contract at the interest rate of 3'/2% per annum, payable in 30 annual installments, in itd ,r:4 e with the
<br /> Promissory Note Provision of said Contract, or until loan is paid n full. O
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<br /> And whereas, the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to the State of Xl rn
<br /> Colorado.
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<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 /> Reservoir approxim . oig wition H
<br /> 24which TownshiptheDam 18and South Rangelie 69 Wconsistingest of the
<br /> of 6th Principalately Mer460idian91 consisting of thedescribed acreagesasfollows:indicateThed: fool!J Nwfin;
<br /> iV4E%parcels(40.297 acres),hinSect(2J tri N
<br /> SEE% NE% (40.271 acres), (3) NEt' SE'e (40.497 acres), and (41 SE% SE% (40.47 acres); and the following 2 parcels within Section 25, r r.)
<br /> Township 18 South, Range 69 West of the 6th Principal Meridian consisting of the acreages indicated: (1)NEM NE% (40.436 acres) and(2)
<br /> N%SE'o NE% (30.244 acres);and the following 4 parcels within Section 19, Township 18 South, Range 68 West of the 6th Principal Meridian
<br /> consisting of the acreages indicated: (1) NW% NW% (40.394 acres), (2) SW'J NW% (40.155 acres), (3) NW% SW% (39.872 acres), and(4) coI
<br /> SW% SW% (39.598 acres); and the following 2 parcels within Section 30, Township 18 South, Range 68 West of the 6th Principal Meridian
<br /> N. consisting of the acreages indicated: (1)NW'e NW% (39.185 acres), and(2)N%SW% NW% (29410 acres), (collectively or hereinafter referred
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<br /> A to as the "Property"). tii
<br /> To have and to hold the same, together with all and singular the privileges and appurtenances thereunto belonging: In Trust 2 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 -3 o
<br /> \,1the 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 1O
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<br /> or in case of violation or breach of any of the terms, conditions, covenants or agreements contained in the Contract, the beneficiarly hereunder 0 E-'
<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 1°
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<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, rn
<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 />:1 shall and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same len masse or in separate parcels, as the said PUBLIC TRUSTEE r..M
<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 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 "0
<br /> k 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 Si
<br /> 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
<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 for other person entitled thereto) shall
<br /> hoontitlod to the Hood therefor, unless the same shall be redeemed as is provided by law; and said Poetic. TRUSTEE chill i,pon demp.nd by the
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<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 to the N
<br /> Property purchased, which said deed shall be in the ordinary form of a conveyance, and shall be signed, acknowledged and deliverer;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, 1_, 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 tli
<br /> 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 n
<br /> ( of such certificate of purchase, or in case of the redemption of the Property, by a subsequent encumbrancer, such assignment or tedemption 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 /> 1 principal and interest due on said note according to the tenor and effect thereof, and all moneys advanced by such beneficiary or legal holder 0
<br /> . iof said note for insurance, taxes and assessments, with interest thereon at ten per cent per annum, rendering the surplus, if any, unto the
<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
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