|
<br />vi g Deed <odf Tlt1lJ[~lt
<br />
<br />This Indenture; mad~:this .,9. 5 day of tJ {J \/J2. ~11 1998, between ARISTOCRAT RANCHETTE WATER
<br />PROJECT, INC., whose..~ddiess is P. O. Box 247, Fort Lupton. CO 80621, hereinafter referred to as GRANTOR, and the Public
<br />Trustee of the County ofW,eld, 'State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br />"
<br />Witnesseth, that whereas, GRANTOR has executed a promissory note, set forth in' Contract #C153739 (the Contract) for a loan in
<br />the principal sum of $600;000' to be repaid to the STATE OF COLORADO for the use and benefit of the Department of Natural
<br />Resources, Water Consef\>ilffoii Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, with interest
<br />thereon from the date of fIT~fdisbursement of fuilds under the Contract at the effective interest rate of 4V.% per annum, payable in 30
<br />annual installments, in accordance with the terms of the Promissory Note Provisions of said Contract, or until loan is paid in full.
<br />
<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to the State of
<br />Colorado. .,.
<br />
<br />Now, therefore, the Gj\ANrOR, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain, sell and
<br />convey unto the said P~'LIC 'FRUS~E ix.! .!t1!~Jorever, to wit: 30 acre-foot units of Colorado-Big Thompson Project water,
<br />approved br the Board .0l:theNortnfr\~a'ter Conservancy District on November 13, 1998, (collectively or hereinafter referred
<br />to as the "Property"). .
<br />
<br />To have and to hold; the same, together with all and singular the privileges and appurtenances thereunto belonging: In Trust
<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
<br />to the 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
<br />made in or in case of violatio,5, 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 advertise said Property for
<br />sale, and demand such sale by.filing a notice of such election and demand for sale with the PUBLIC TRUSTEE. Upon receipt of such
<br />notice of election and demand for *ale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the recorder's office of
<br />the county in which said I?roperty is situated, it shall and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same (en
<br />masse or in separate parc~ls, a.s the said ,PUBLIC TRUSTEE may think best), and all the right, title and interest of the GRANTOR, its
<br />successors or assigns there.in, at public auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE's Notice
<br />of Sale, for the highest an~b,Sotprice the same will bring in cash, four weeks public notice having been previously given of the time
<br />and place of such sale, adcvertisement once each week for five consecutive weeks, in some newspaper of general circulation at that
<br />time published in said COl\llty, a copy of which notice shall be mailed within ten days from the date of the fITst publication thereof to
<br />the GRANTOR at the address herein given and to such person or persons appearing to have acquired a subsequent record interest in said
<br />Property at the address giv~l1'in the recorded instrument; where only the county and state is given as the address then such notice shall
<br />be mailed to the county seai, .and to make and give to the purchaser of the Property at such sale, a certificate in writing describing the
<br />Property purchased, and tile sum paid therefor, and the time when the purchaser (or oth~,-person entitled thereto) shall be entitled to
<br />the deed therefor, unless the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE shall, upon demand by the
<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
<br />the Property purchased, at the time such demand is made, the time for redemption having expired, make and execute to such person a
<br />deed to the Property purchased, which said deed shall be in the ordinary form of a conveyance, and shall be sigIied;.lidknowledged and
<br />delivered by the said PuBLic TRUSTEE and shall convel( and quitclaim to such person entitled to such deed, the)~roperty purchased as
<br />aforesaid and all the right, title,'interest,benefit.and equity of redemption of the GRANTOR, its successors lmd'assig>>,'s'~de therein,
<br />and shall recite the sum for which the said Property ~as sold ond shall refer to the power of sale therein<;onll\in~4: ~nd to the sale
<br />made by virtue thereof; and in case of an assignment of such certificate of purchase, or in case of the redemptiori~oftlle Property, by a
<br />subsequent encuriJ.brancer, such assignment or redemption shall also be referred to in such deed; but the notice of sale need not be set
<br />out in such deed '\I'd the PUBLIC TRUSTEE shall, out of the proceeds or avails of such sale, after first paying and Wtainlilg all fees,
<br />charges and costs of making said sale, pay to the beneficiary hereunder the principal and interest due on saidriQte according to the
<br />tenor and effect thereof, and all moneys advanced by such beneficiary or legal holder of said note for Insurance, taxes and
<br />assessments, with interest thereon at ten per cent per annum, rendering the surplus, if any, unto the GRANTOR, its legal representatives
<br />or assigns; which sale and said deed so made shall be a perpetual bar, both in law and equity, against the GRANTOR, its successors and
<br />assigns, and all other persons claiming the Property, or any part thereof, by, from, through or under the GRANTOR, or any of them.
<br />The holder of said note may purchase Property or any part thereof; and it shall not be obligatory upon the purchaser at any such sale to
<br />see to the application of the purchase money.
<br />
<br />And the GRANTOR, for itself and its successors or assigns covenants and agrees to and with the PUBLIC TRUSTEE, that at the time
<br />of 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
<br />lawful authority to grant, bargain', sell and convey the same in the manner and form as aforesaid; hereby fully and ab,solutely waiving
<br />and releasing all rights and claims it may have in or to said Property as a Homestead Exemption, or otherex,mption, under and by
<br />virtue of any act of the General Assembly of the State of Colorado, or as any exemption under and by virtue of , any act oftne United
<br />States Congress, now existing or which may hereafter be passed in relation thereto and that the same is free and clear of all liens and
<br />
<br />111111I111111111111111111111111111111111111111111111111
<br />2658618 12/07/1998 02:40P Weld County CO
<br />1 o( 2 R 11.00 D 0.00 JA Sukl Tsukamoto
<br />
|