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<br />DEED OF TRUST
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<br />THIS INDENTURE, Made Ihis
<br />BEAVER PARK.WATER, INC.,
<br />
<br />dRy of February , 1994 . between
<br />a Colorado non-profit corporation
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<br />ill'
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<br />whose address is P.O. Box 286, penrose, Colorado 81240
<br />
<br />hereinafter referred to llll grantor, and the Public Trustee orthe .Countyof
<br />Fremont ,State of Colorado, hereinafter referred to as Public Trustee,
<br />I~SETH. THAT, WHEREAS, Gro.ntor
<br />
<br />~ed a promissory note or notes, hereinafter referred to in the singular, dated February ,1994 ,for the
<br />prinClPa1 sum of Seventy Five Thousand {$7S,OOO} --------------------------------- Dollars,
<br />payable to the order of State of Colorado for the use and benefit of the Department of
<br />Natural Resources (Water Conservation Board)
<br />whose address is Director, Colorado Water Conservation 13odrd, 721 Sta te Centennial Build,] 19,
<br />1313 Sherman Street, Denver, Colorado 80203 after tilt' date I>cre.)f. "ill> interc\tll>ereun from the date thereof II
<br />Rl lhe rate of 3.5 percent per annum, payable in ten (10) CCIU.:Il annual installments of i:
<br />approximately NIne Thousand Eighteen Doll ars and Ten Cents ($9,018.10) each,
<br />
<br />AND WHEREAS, the grantor is desirotlS of securing ~ent of the principal and interest of said promissory note in whose hands soever lhe said
<br />note may be.
<br />NOW THEREFORE, the grantor, in co,uideration of the pn:mises and for lhe purpose aforesaid, does hen:by gram, bargain, sell and convey unto
<br />thesaidPublicTrusteeintrustfon:~r,tbefolJowingdescribedproperly,situateinthe Coumynf
<br />Fremont ,State of Colorado, 10 wit:
<br />
<br />See Exhibit A
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<br />648732 8-1250
<br />NORMA HATFIELD
<br />
<br />P-472 06/10/96 12:00P PG 1
<br />FREMONr COUNTY, COLORAOO
<br />
<br />OF 3
<br />
<br />REC
<br />16.00
<br />
<br />OOC
<br />
<br />NOT
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<br />a1soknownbystrcetandnumberas N/A
<br />TO HAVE AND TO HOLD the same, tofCther with all and singular the privileges and appurtenances thereunto belonging: In trust nevertheless, that
<br />in case of default in the payment of said note or sPY part thereof, or in the payment of the interest thereon aCC(lrding to the lenor and effect of said note, or in
<br />the payment of any prior encumbrances, princip#! or interest., if any, or in case default shall be made in or in case of violation or breach of any of the terms,
<br />conditioD5, covenants or agreements herein contained, the beneficiary hereunder or tbe legal holder of the indebtedness secun:d hen:by may declare a
<br />violation of any of the covenants herein contained and may elect 10 advertise said property for sale, and demand such sale by filing a notice of election and
<br />demand for sale with the Public Trustee. Upon receipt of such notice of election and demand for sale, the Public Trustee shall cause a copy of the same to be
<br />recorded in the recorder's office of the county in ....hich said property is situated. The Public Trustee shall then give public ootice of the time and place of sale
<br />by advertisement to be published for four weeks (once each week for li~ successive weeks) in some miW1paper ofgcncral cin:ulation at that time published
<br />in Ihecounty orcounties in which said property i5locatcd. A copy ofsuch notice shall be mailed within ten days after the dale oflhe first publication thereof
<br />10lhegrantoratthcaddressgi~nbcrein,tosuchpersoD5appearingtoha~acquiredasubsequentrccordinterestinsaidpropcrtyatthcaddressgivcninthc
<br />rcrordcd instrument, and to any other persons as may be provided by law. II shall and may then be lawful for the Public Trustee to sell said propeny for Ihe
<br />highest and best price the same will bring in c;asjI and 10 dispose of the same (en masse orin separate parcels. as the said Public Trustee may think best),
<br />together with all the right. title and interest ofthegrantol therein, at public auction al any place as maybe specified by statule and designated in Ihe notice of
<br />sale. 'The Public Trustee sba1l makeandgivetothe~rofsuch property at such sale, a ccrtilicatein writing containing; a description of such property
<br />purcltaxd; the sum paid therefor, a statement that SRld pun:hasCr sba1l be entitled to a deed th~for, unlcu the ~me shall be ~med as is provided by
<br />law; and in the event ofacontinuanee of the sale, a recital that the sale was duly continued. The Public Trustee sball, upon demand by the pelWD holding the
<br />said certilicate of purchll5C, when said demand is made or upon demand by the person entitled to a deed to and for the property pu<<:hascd at the time sucb
<br />demand is made, the time for redemption baving opired, make and occute to such pernm a deed to the said propeny purchased. Said deed shall be in the
<br />ordinary form ofa conveyance, and shall be signe.t, acknowledged and delivered by the said Public Trustee and shall conlirm the for<<losun: sale and sell and
<br />convcy to such person entitled to such dccd,theProperty purchased as afon:said and all the right, t itle, interest, benelit aodequityofn:demptionoflhe
<br />gramor therein. The Public Trustee shall, out of tile proceeds or avails of such sale, after first paying and n:laining all fees, charges and costs of making said
<br />sale, pay to the beneliciary hen:under or the legal J:loIder of said note, the principal and interest due on said note according to theten(!~andelfcct thereof,and
<br />all moneys advanced by such beneliciary or legal jlolder of said note for insurance, taxes and assessments, with interest thereon at Elght per cent per
<br />annum, n:ndering the OVCTplus, ifany, untothosc pcrsonsenlitled Ihen:to asa matte roflaw. Said sale and said dced so made shall bca pcrpctual bar, both in
<br />law and equity, lIpinst the grantor and all otber persons claiming the said propeny, or any pan thereof, by, from, through or under the grantor. The ftdlder of
<br />said note may purcb.asc said property or any pan thercof; and it shall not bc obligato ryupon lhe purchaser at any such sale to 5el: to tbe application of the
<br />purcb.ascmoney.
<br />
<br />-IfinDenver,insen"Cityand".
<br />
<br />No. 34IA, Rev. 12-92. DEED OF TRUST (Public -nullee) Wltb DIIe on s'de Clluse It!
<br />Bradford J><lblishing. 1743 Wazee St.. Denver. CO H'J20:! _ (3OJ) 292.2500 _ 8.93
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