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<br />1111I1111111111111111111111111111111111111111111111111I
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<br />186945 03/12/2001 09:00A B232 P211 KMollendor
<br />1 of 3 R 15,00 D 0,00 Sedgwick Counly
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<br />Deed of Trust
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<br />This indenture, made this 1st day of March 2001, between the Julesburg Irrigation District,
<br />whose address is 315 Cedar Street, Julesburg, Colorado 80737, hereinafter referred to as
<br />GRANTOR, and the Public Trustee of the County of Sedgwick, State of Colorado, hereinafter
<br />referred to as PUBLIC TRUSTEE,
<br />Witnesseth, that whereas, GRANTOR has executed a promissory note, dated March 1,
<br />2001, as set forth in Contract No. C150060 dated March 1, 2001 (the Contract) for a loan in the
<br />principal sum of $100,000 to be repaid to the STATE OF COLORADO for the use and benefit of
<br />the Department of Natural Resources, Water Conservation Board, whose address is 1313
<br />Sherman Street, Room 721, Denver, Colorado 80203, with interest thereon from the date of first
<br />disbursement of funds under the Contract at the effective interest rate of 3,5% per annum,
<br />payable in 30 annual installments, in accordance with the terms of the Promissory Note, or until
<br />loan is paid in full.
<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest
<br />of said promissory note to the State of Colorado,
<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 in trust
<br />forever, to wit: The land underlying the Julesburg Reservoir located upon Sections Twelve (12),
<br />Thirteen (13), Fourteen (14), Twenty-Three (23), and Twenty.Four (24) in Township Eleven (11)
<br />North, Range Forty-Eight (48) West, 6th P,M., and Sections Six (6), Seven (7), Seventeen (17),
<br />Eighteen (18), and Nineteen (19) in Township Eleven (11) North, Range Forty-Seven (47)
<br />West, 6th P.M" and lying and being partly in both Logan County and Sedgwick County,
<br />collectively or 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
<br />appurtenances thereunto belonging: In Trust nevertheless, that in case of default in the payment
<br />of said note, or any part thereof, or in the payment of the interest thereon, according to the tenor
<br />and effect of said note or in the payment of any prior encumbrances, principal or interest, if any, or
<br />in case default shall be made in or in case of violation or breach of any of the terms, conditions,
<br />covenants or agreements contained in the Contract, the beneficiary hereunder may declare a
<br />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
<br />PUBLIC TRUSTEE. Upon receipt of such notice of election and demand tor sale, the PUBLIC
<br />TRUSTEE shall cause a copy of the same to be recorded In the recorder's office of the county In
<br />which said Property Is situated, it shall and may be lawful for the PUBLIC TRUSTEE to sell and
<br />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
<br />public auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE'S
<br />Notice of Sale, for the highest and best price the same will bring in cash, four weeks public notice
<br />having been previously given of the time and place of such sale, advertisement once each week
<br />for five consecutive weeks, in some newspaper of general circulation at that time published In said
<br />county, a copy of which notice shall be mailed within ten days from the date of the first publication
<br />thereof to the GRANTOR at the address herein given and to such person or persons appearing to
<br />have acquired a subsequent record interest in said Property at the address given In the recorded
<br />Instrument; where only the county and state is given as the address then such notice shall be
<br />mailed to the county seat, and to make and give to the purchaser of the Property at such sale, a
<br />certificate in writing describing the Property purchased, and the sum paid therefor,and the time,
<br />when the purchaser (or other person entitled thereto) shall be entitle a to the deed therefor, unless
<br />the same shall be redeemed as is provided by law; and said PUBLIC TRUSTEE shall, upon demand
<br />by the person holding the said certificate of purchase, when said demand is made, or upon
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<br />Appendix 5 to Loan Contract No. C150060
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