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<br />RCPTN # 2001086379 09/26/2001 10:10:00 # PAGES - 3 FEE -
<br />M RODENBERGER RECORDER, LARIMER COUNTY CO STATE DOC FEE -
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<br />$15.00
<br />$.00
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<br />0/
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<br />lIT" De~d of Trust
<br />/' t - d"~ 0,- J"u/~ 2.00/,
<br />This indenture, made this l' ,d"'1 r J ~..J [ 61, between The Tunnel Water Company, whose.J2:ld
<br />address is P.O. Box 1584, Fort Collins, CO 80522, hereinafter referred to as GRANTOR, and the Public
<br />Trustee of the County of Larimer, state of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br />::July 1I,20bl ;j,,\y 11,200) d-......
<br />Witnesseth, that whereas, G~~as executed a promissory note, dated"J\:lF\e 1, 2991, se~'
<br />forth in Contract No. C150065 dated , 2001- (the Contract) for a loan in the principal sum of
<br />$2,080,000 to be repaid to the STATE OF COLORADO for the use and benefit of the Department o~ld
<br />Natural Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721, .
<br />Denver, Colorado 80203, with interest thereon from the date of first disbursement of funds under the
<br />Contract at the effective interest rate of 4.3% per annum, payable in 30 annual installments, in
<br />accordance with the terms of the Promissory Note, or until loan is paid in full.
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<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest of said
<br />promissory note to the State of Colorado.
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<br />Now, therefore, the GRANTOR, in consideration of the premises and for the purpose aforesaid,
<br />does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, to wit: the
<br />water and Water iignlS available to the Laramie River System of the lunnetWater Company, pursuant to
<br />the decree in Case No. 5993 entered on September 11, 1944, by the District Court, Larimer County,
<br />Colorado, together with an easement for the Laramie-Poudre Tunnel. The Laramie-Poudre Tunnel is
<br />located on Forest Service lands within Sections 7, 8, 9, and 16, Township 8 North, Range 75 West of the
<br />6th P.M., Larimer county Colorado, hereinafter referred to as the "Property."
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<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
<br />case of violation or breach of any of the terms, conditions, covenants or agreements contained in the
<br />Contract, the beneficiary hereunder may declare a violation of any of the covenants contained in the
<br />Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of such
<br />election and demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and
<br />demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the recorder's
<br />office of the county in which said Property is situated, it shall and may be lawful for the PUBLIC TRUSTEE to
<br />sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE may think
<br />best), and all the right, title and interest of the GRANTOR, its successors or assigns therein, at public'
<br />auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE'S Notice of Sale,
<br />for the highest and best price the same will bring in cash, four weeks public notice having been previously
<br />given of the time and place of such sale, advertisement once each week for five consecutive weeks, in
<br />some newspaper of general circulation at that time published in said county, a copy of which notice shall
<br />be mailed within ten days from the date of the first publication thereof to the GRANTOR at the address
<br />herein given and to such person or persons appearing to have acquired a subsequent record inter.est in
<br />said Property at the address given in the recorded instrument; where only the county and state is given as
<br />the address then such notice shall be mailed to the county seat, and to make and give to the purchaser of
<br />the Property at such sale, a certificate in writing describing the Property purchased, and the sum paid
<br />therefor, and the time when the purchaser (or other person entitled thereto) shall be entitled to the deed
<br />therefor, unless the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE shall, upon
<br />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
<br />made, the time for redemption having expired, make and execute to such person a deed to the Property
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<br />Appendix 5 to Loan Contract C150065
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