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<br />6343Se 03/2e/1999 09:00A B922 P441 DT
<br />1 of 3 R 16.00D 0.00 N 0.00 Lo..~ County CO ,
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<br />MAR 3 [;1999
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<br />D d f T t Colorado Water
<br />ee 0 rus' Conservation Board
<br />
<br />This indenture, made this_? () day of ~/VH -1",///, 1998, between the Julesburg
<br />Irrigation District, whose address is 315 Cedar, Julesburg, Colorado 80737, hereinafter referred to as
<br />GRANTOR, and the Public Trustee of the County of Logan, State of Colorado, hereinafter referred to as
<br />PUBLIC TRUSTEE,
<br />
<br />. Witnesseth, that whereas, GRANTOR has executed a promissory note, which is a part of Contract
<br />No. C153827 (the Contract) for a loan in the principal sum of $510,469 to be repaid to the State of
<br />Colorado for the use and benefit of the Department of Natural Resources, Water Conservation Board,
<br />whose address is 1313 Sherman Street, Room 721, Denver, Colorado 80203, with interest thereon from
<br />the date of first disbursement of funds under the Contract at an interest rate of 3.75% per annum, payable
<br />in 30 annual installments, in accordance with the terms of the Promissory Note, or until the loan Is paid in
<br />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 />land underlying the Julesburg Reservoir located upon Sections Twelve (12), Thirteen (13), Fourteen (14),
<br />Twenty-Three (23), and Twenty-Four (24) in Township Eleven (11) North, Range Forty-Eight (48) West,
<br />6th P.M., and Sections Six (6), Seven (7), Seventeen (17), Eighteen (18), and Nineteen (19) in Township
<br />Eleven (11) North, Range Forty-Seven (47) West, 6th P.M., and lying and being partly in both Logan
<br />County and Sedgwick County. Both Parties expressly agree that the collateral pledged herein shall not
<br />include any water rights or appropriations held in any manner by the Julesburg Irrigation District. Further,
<br />the collateral pledged herein shall exclude that portion of land underlying Julesburg .Dam Number 4,
<br />which is pledged as collateral pursuant to Contract No. C153604 between Julesburg Irrigation District and
<br />the State of Colorado for the use and benefit of the Colorado Water Conservation Board, dated January
<br />10,1.992. (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
<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 s.ale 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 add.ress
<br />herein given and to such person or persons appearing to have acquired a subsequent record interest in
<br />said Property at the address given in th,e 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 />
<br />Appendix 5 to Loan Contract No. C153827
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