|
<br />'."
<br />
<br />-
<br />
<br />)
<br />
<br />llI9~~ UIJl!~~!:1I!l!lIIJ~1 ~'!UI ~l!~lllllllllll
<br />
<br />1 of 5 R 25.00 D 0.00 N 0.00 HINSDALE COUNTY
<br />
<br />Deed of Trust
<br />Page 1 of 2
<br />
<br />DEED OF TRUST
<br />
<br />-tL
<br />THIS DEED OF TRUST, dated this It? day of /VtrtlUn.8€-R- 2001, between THE
<br />SAN LUIS VALLEY IRRIGATION DISTRICT, the Grantor herein, whose address is 296 Miles Street,
<br />Center, Colorado, County of Saguache and State of Colorado, and the PUBLIC TRUSTEE of the
<br />County of Hinsdale, in which the property described beiow is situated, in the Stale of Colorado,
<br />
<br />WITNESS:
<br />
<br />WHEREAS, the Grantor, to secure the repayment of the indebtedness evidenced by the
<br />repayment ianguage, set forth in Contract No. C153318, dated September 14, 1979 ("Contracf'),
<br />for loan in the principal sum of $90,000.00, to be repaid to the STATE OF COLORADO for the use
<br />and benElfit of the Department of Natural Resources, Water Conservation Board, whose address
<br />is 13.13 Sherman Street, Room 721, Denver, Colorado, 80203, the Beneficiary herein, payable in
<br />forty (40) annual installments, in accordance with said repayment language, or until loan is paid in
<br />full, was to have granted and conveyed the Property described in paragraph A.2. of the Contract to
<br />the Public Trustee.
<br />
<br />WHEREAS, it now appears that said grant and conveyance to the Public Trustee was never
<br />executed. .
<br />
<br />WHEREAS, the Grantor has made the annual installments in accordance with the.
<br />repayment language.
<br />
<br />NOW THEREFORE, the Grantor does hereby grant and convey unto said Public Trustee
<br />the following described Property, situate in the County of Hinsdale, State of Colorado, to wit:
<br />
<br />An undivided ten percent (10%) interestin and to the Rio Grande Reservoir together
<br />. :-WillLal1lrilet~flnd-mllleL(jitclml':~linJi~~tr'cir.inrp.s-;''-rf1I'lrtenanDl1Ar'P.tn--ill:Xf"'''n~in- .
<br />connection therewith as more completely described on Attachment 1, (collectively
<br />or hereinafter referred to as the "Property").
<br />
<br />TO HAVE AND TO HOLD the same together with all appurtenances, in trust nevertheiess,
<br />that in case of default in the payment of said note or any part thereof or Interest thereon, or in the
<br />performance of any covenants hereinafter set forth, then upon the Beneficiary filing notice of
<br />election and demand for sale, said Public Trustee, after advertising notice of said sale weekly, for
<br />not less than four weeks, in some newspaper of general circulation in said county, shall sell said
<br />Property in-the manner provided by law in effect at the time of filing said notice and demand, at
<br />public auction for cash, at any proper place designated in the notice of sale. Out of the proceeds
<br />of said sale said Trustee shall retain or pay first all fees, charges and costs and all moneys
<br />advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest
<br />thereon, and pay the principal and interest due on said note, rendering the overplus (ifany) unto the
<br />Grantor; and after the expiration of the time of redemption, said Trustee shall execute and deliver
<br />to the purchaser a deed to the Property sold. The Beneficiary may purchase said property or .any
<br />part thereof at such sale. .
<br />
<br />The Grantor covenants that at the time ofthe execution of the Contract and delivery of these
<br />presents, it was seized of said Property in fee simple, and that said Property was free of
<br />encumbrance by any beneficiary other than the beneficiary named herein.
<br />
<br />The Grantor aiso covenants that he will pay all taxes and assessments against said Property
<br />and amounts due on prior encumbrances. If Grantor shall fail to pay insurance premiums, the same
<br />and all amounts shall become additional indebtedness due hereunder, and in case of foreclosure,
<br />
|