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<br />~ ~'.' <br />/''j?' <br />$' <br /> <br />t-1l3 B -u... <br /> <br />DEED OF TRUST <br /> <br />1. Grantor: The Town of Dillon, Colorado <br />275 Lake Dillon Drive <br />Dillon, Colorado 80435 <br /> <br />2. Beneficiary: Colorado ' Water Conservation Board <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Attention: Director <br /> <br />and its successors in interest. <br /> <br />3. Trustee: The Public Trustee of Summit County, Colorado <br /> <br />4. Property: 200 shares of the Class A Series 1 common stock of Clinton <br />Ditch & Reservoir Company, represented by certificate nos. 8, 9, 10, 11, 12 <br />and 13 (29 shares each), and no. 14 (26 shares). The Property entitles the <br />holder thereof to a specified volume of water from the Reservoir Yield of the <br />Clinton Gulch Reservoir located in Summit County, Colorado, as set forth in <br />Maker's articles of incorporation. <br /> <br />5. Obligations: (a) Limited to that portion of the indebtedness evidenced <br />and created by the following described nonrecourse promissory note payable to <br />the order of Beneficiary (the "Note") allocated to Grantor, such portion being <br />$82,000.00, and all renewals, extensions, amendments and substitutions of and <br />for such portion. <br /> <br />Date: August 13, 1992 <br />Note Amount: $615,000 <br />Maturity Date: August 13, 2002 <br />Maker: Clinton Ditch & Reservoir Company <br /> <br />(b) All expenditures made or incurred by Beneficiary pursuant to the <br />provisions of the Note and this deed of trust and attributable to Grantor's <br />allocated portion of the indebtedness, together with interest thereon. <br /> <br />6. Grant. For valuable consideration Grantor hereby sells and conveys the <br />Property to Trustee, together with all appurtenances, rents, issues and <br />profits appertaining thereto or used in connection therewith, and warrants the <br />title to the Property, subject to liens for real property taxes and <br />assessments not currently due and other matters shown on any attachment <br />hereto. This grant is made in trust to secure the Obligations. <br /> <br />'" = <br />0 <br />'" I'.) <br /><;; <br />r --' <br />"" <br />'" <br />;= I'.) <br />r- --l <br /> <br />Ul :E <br />c ..0 <br />::<: ...., <br />;! >- <br />-< c= <br />('") en <br />0 <br />c N <br />z r <br />-< <br />-< <br />'" "'0 <br />'" <br />('") <br />0 - <br />'" .. <br />'" U1 <br />'" <br />;u N <br />