|
<br />.f/.A_ ~-., 7h SeFISg'
<br />/r:--r;;~ ~O- ..~~ .;zi"~~;/tZ fat ';? n' cz;f J'.''',1l'1/n
<br />~/~ 1-<: ",--_P<, ~
<br />/ +~ ~ '&7'"<'7
<br />
<br />~ /':<9
<br />4r '1'75
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST, dated this 5th day of October ,
<br />1988, between THE SAN LUIS VALLEY IRRIGATION DISTRICT, the grantor
<br />herein, whose address is 296 Miles Street, Center, Colorado, County
<br />of Saguache and State of Colorado, and the PUBLIC TRUSTEE of the
<br />County of Hinsdale, in which the property described below is
<br />situated, in the State of Colorado,
<br />
<br />WITNESS:
<br />
<br />The grantor, to secure, the repayment of the indebtedness
<br />evidenced by the Project Contract, dated Novli:mber 14, 1986, as
<br />amended by the Project Contract Amendment dated May 11, 1987 and
<br />the Project Contract Second Amendment, dated April 26, 1988,
<br />Contract Encumbrance Number C-153478, hereinafter referred to as
<br />the "Project Contract," for the total principal sum of $526,087.44
<br />payable to the order of Colorado Water Conservation Board ("CWCB")
<br />the beneficiary herein, whose address is 721 State Centennial
<br />Building, 1313 Sherman Street, Denver, Colorado, after the date
<br />December 1, 1987, with interest thereon from the date thereof at
<br />the rate of five (5) percent per annum, principal and interest
<br />payable in forty (40) annual payments of $30,660.37, due on the
<br />1st day of each December beginning in 1987, does hereby grant and
<br />convey unto said Public Trustee the following described property,
<br />situate in the County of Hinsdale, State of Colorado, to wit:
<br />
<br />470 acre feet of the absolute portion of reservoir water
<br />priority no. 1916-63A.
<br />
<br />TO HAVE AND TO HOLD the same together with all appurtenances,
<br />in trust nevertheless, that in case of default in the payment of
<br />said note or any part thereof or interest thereon, or in the
<br />performance of any covenants hereinafter set forth, then upon the
<br />beneficiary (CWCB) filing ~otice of election and demand for sale,
<br />said Public Trustee" after advertising notice of said sale weekly,
<br />for not less than four weeks, in some newspaper of general
<br />circulation in said county, shall sell said property in the m~nner
<br />provided by law in effect at the time of filing said notice and
<br />demand, at public auction for cash, at any proper place designated
<br />in the notice of sale. out of the proceeds of said sale said
<br />Trustee shall retain or pay first all fees, charges and costs and
<br />all moneys advanced for taxes, insurance and assessments, or on any
<br />prior encumbrance, with interest thereon, and pay the principal and
<br />interest due on said note, rendering the overplus (if any) unto the
<br />grantor; and, after the expiration of the time of redemption, said
<br />Trustee shall execute and deliver to the purchaser a deed to the
<br />property sold. The beneficiary may purchase said property or any
<br />part thereof at such sale.
<br />
|