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<br />CANCELLED
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<br />Deed of Trust
<br />
<br />FEe 2 Ii 2003
<br />
<br />EAGLE COUNTY
<br />PUBLIC TRUSTEE
<br />
<br />This indentute, made this J./~ +.6- day of ' 2000, between the Town of Basalt,
<br />whose address is 101 Midland Avenue, Basait, Colora 0,81621, reinafter referred to as GRANTOR, and the
<br />Public Trustee of the County of Eagle, State of Colorad , hereinafter referred to as PUBLIC TRUSTEE,
<br />
<br />Witnesseth, that whereas, GRANTOR has executed Loan Contract No, C153373, dated December 1,
<br />1981, as amended, ("Loan Contract"), for a loan in the principal sum of $226,975'.24, to be repaid to the
<br />STATE OF COLORADO for the use and benefit of the Department of Natural Resources, Water Conservation
<br />Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, payable in 40 annual
<br />installments, in accordance with said Loan Contract, or until loan is paid in full.
<br />
<br />And whereas, the GRANTOR is desirous of securing the performance of obligations including repayment
<br />of a loan under said Loan Contract to the State of Colorado.
<br />
<br />Now, therefore, the GRANTOR, in consideration of the premises and for the purpose aforesaid, does
<br />hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, to wit:
<br />
<br />1, 6,005 linear feet of C 900 PVC diameter pipe with all appurtenances which is a portion of the
<br />Grantor's water supply system located in the Town of Basalt, Eagle County, Colorado, as
<br />described as follows:
<br />(a) Midland Avenue - 2,250 linear feet,
<br />(b) In the easement between Midland Avenue and First Street - 320 linear feet,
<br />(c) Hillside Drive - 150 linear feet,
<br />(d) In the easement between First and Second Streets - 300 linear feet,
<br />(e) Sopris Drive - 1,685 linear feet,
<br />(t) Cedar Drive - 600 linear feet, and
<br />(g) In the easement between Sopris and Cedar Drives - 700 linear feet,
<br />2, 275 water meters, complete with yolks, connecting appurtenances, meter pits, freezeproof lids
<br />and copper pipes,
<br />(Collectively or hereinafter referred to as the "Property"),
<br />
<br />To have and to hold the same, together with all and singular the privileges and appurtenances
<br />thereunto belonging: In Trust nevertheless, that in case of default in the payment of said note, or any part
<br />thereof, or in the payment of the interest thereon, according to the tenor and effect of said note or in the
<br />payment of any prior encumbrances, principal or interest, if any, or in case default shall be made in or in case
<br />of violation or breach of any of the terms, conditions, covenants or agreements contained in the Contract, the
<br />beneficiary hereunder may declare a violation of any of the covenants contained in the Contract and elect to
<br />advertise said Property for sale, and demand such sale by filing a notice of such election and demand for sale
<br />with the PUBllC TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE shall
<br />cause a copy of the same to be recorded in the recorder's office of the county in which said Property is
<br />situated, it shall and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same (en masse or in
<br />separate parcels, as the said PUBLIC TRUSTEE may think best), and all the right, title and interest of the
<br />GRANTOR, its successors or assigns therein, at public auction at such time and at such location as shall be
<br />designated in the PUBLIC TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in cash,
<br />four weeks public notice having been previously given of the time and piBce of such sale, advertisement once
<br />each week for five consecutive weeks, in some newspaper of general circulation at that time published in said
<br />County of Eagle, a copy of which notice shall lie mailed within ten days from the date of the first publication
<br />thereof to the GRANTOR at the address herein given and to such person or persons appearing to have acquired
<br />a subsequent record interest in said Property at the address given in the recorded instrument; where only the
<br />county and state is given as the address then such notice shall be mailed to the county seat, and to make and
<br />give to the purchaser of the Property at such sale, a certificate in writing describing the Property purchased,
<br />and the sum paid therefor, and the time when the purchaser \or other person entitled thereto) shall be entitled
<br />to the deed therefor, unless the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE shall,
<br />upon demand by the person holding the said certificate of purchase, when said demand is made, or upon
<br />demand by the person entitled to a deed to and for the Property purchased, at the time such demand is made,
<br />the time for redemption haying expired,. make and execute to such person a deed to the Property purchased,
<br />
<br />111111I111111111111111111111111111111111111111111111111
<br />721778 02/02/2000 03:48P 159 Sara Fisher
<br />1 of 3 R 15,00 D 0,00 N 0,00 Ea,l. CO
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