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<br />91920 11/30/2001 03:24P DT LINDR RRGLE
<br />4 of , R 2'.00 D 0.00 N 0.00 HINSDALE COUNTY
<br />
<br />First Amendment to Deed of Trust
<br />
<br />...
<br />
<br />This First Amendment to Deed of Trust, dated this 1't day of November 2001, is
<br />between the San Luis Valley Irrigation District, ("Grantor"), whose address is 296 Miles
<br />Street, Center, Colorado 81125, and the Public Trustee of the County of Hinsdale,
<br />Colorado.
<br />
<br />WHEREAS, the San Luis Valley Irrigation District ("Grantor") recorded the
<br />original deed of trust on October 24,1988 at Book 129, Page 475, Reception No. 80458
<br />("Original Deed of Trust"), to secure the indebtedness evidenced by a loan contract
<br />(Contract Encumbrance No. CWCB 153478) between the Grantor and the Colorado
<br />Water ConselVation Board ("eWCB"), whose address is 1313 Sherman Street, Room
<br />721, Denver, CO 80203, dated November 14,1986, which was amended on May 11,
<br />1987, on April 26, 1988, on April 24, 1989, and on November 1, 2001 (hereinafter
<br />referr~d to as 'Project Contract"); and
<br />
<br />WHEREAS, based upon Grantor's financial difficulties, the CWCS deferred
<br />Grantor's annual loan payments for the years 1993, 1999, and 2000, which deferrals
<br />resulted in a new repayment schedule and a different annual payment amount; and
<br />
<br />WHEREAS, Grantor and the CWCB have agreed to amend the Originai Deed of
<br />Trust to reflect the revised annual loan payment amount and repayment schedule.
<br />
<br />NOW THEREFORE, the CWCS and Grantor agree that:
<br />
<br />1. The second full paragraph of the Original Deed of Trust, including the legal
<br />description, is hereby amended to read as follows:
<br />
<br />The Grantor has executed a Promissory Note dated November 1, 2001, to secure
<br />- _.tlle-repa)'menLoLthe_iodebterJness.-1JYidenged by the Project Contract (Contract
<br />Enci.imoran"ce No:C-153"478},aafed Novemoer 14, f9'86, as amendeaon May 11,
<br />1987, on April 26, 1988, on April 24, 1989, and on November 1, 2001 for the total
<br />principal sum of $525,640.47, to be repaid to the State of Colorado for the use and
<br />benefit of the Department of Natural Resources, Colorado Water ConselVation Soard
<br />('CWCS") the beneficiary herein, whose address is 1313 Sherman Street, Room
<br />721, Denver, CO 80203, payable in 29 annual installments, in accordance with said
<br />Promissory Note, or until the loan is paid in full.
<br />
<br />The Grantor is desirous of securing payment of the principal and interest of said
<br />Promissory Nate to.the"State of Colorado.
<br />
<br />Now, therefore, the Grantor, in consideration of the premises and for the purpose
<br />aforesaid, does hereby grant, bargain, sell and convey unto the said Public Trustee
<br />in trust forever, to wit: An undivided one hundred percent (100%) interest in 470
<br />acre-feet of the absolute portion of reservoir water priority No. 1916-63A associated-
<br />with the Rio Grande Reservoir located in Hinsdale County, Colorado, hereinafter
<br />'referred to as the "Property."
<br />
<br />2. In the event of any confiict, inconsistency, variance, or contradiction between the
<br />provisions of this amendment and any of the provisions of the original deed of trust,
<br />the provisions of this amendment shall in all respects supersede, govern, and
<br />control.
<br />
<br />Appendix A to Contract C153478 Amendment NO.4
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