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APPENDIX 6, DEED OF TRUST
<br /> Date: April 5, 2019
<br /> Grantor: The Tunnel Water Company
<br /> Beneficiary: Colorado Water Conservation Board
<br /> County: Larimer
<br /> Total Loan Amount: $9,090,000.00
<br /> Loan Contract Number: CT2019-3706
<br /> Terms of Repayment: 2.85%per annum interest for thirty(30)years
<br /> Pledged Property: An undivided one-hundred percent interest in the West and East Portal Structures
<br /> for the Laramie-Poudre Tunnel, including any easements,rights-of-ways or other
<br /> property or property interests held and used in connection with the access and
<br /> operation of said structures.The location of the structures is the following:the
<br /> West Portal is in the NE 1/4 of the SW '/4 of Section 7, Township 8 North, Range
<br /> 75 West of the Sixth P.M.,Larimer County and continues 2.15 miles until the
<br /> East Portal in the NW 1/4 of the NE 1/4 4 of Section 16,'Township 8 North,
<br /> Range 75 West of the Sixth P.M., Larimer County, Colorado.
<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 /> 1. 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�f said Promissory Note to
<br /> the Beneficiary.
<br /> The Grantor, in consideration of the premises and for the purpose aforesaid,does herby 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 Trustees 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 ponvey 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 /> Contract Number:CT2019-3706
<br /> Appendix 6
<br /> Page 1 of 3
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