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<br />. . 1 111111I1111111111111111111I11111111111111I11111 11111111
<br />'. 2748351 02/07/2000 01:46P JA Suki Tsukamoto
<br />~ _~_ 0'. 3 R 15.00 0 0.00 Weld County CO
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<br />8S"1
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<br />Deed of Trust
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<br />This indenture, made this 1st of December 1999, between the Loloff Lateral Ditch
<br />Company, whose address is 2425 WCR 57, Kersey, Colorado 80644, hereinafter referred to as
<br />GRANTOR, and the Public Trustee of the County of Weld, State of Colorado, hereinafter referred to
<br />as PUBLIC TRUSTEE, .
<br />
<br />Witnesseth, that whereas, GRANTOR has executed a promissory note. set forth in
<br />Contract #C153656, as amended ("Contract") for a loan in the principal sum of $81.500.00 to be
<br />repaid to the STATE OF COLORADO for the use and benefit of the Department of Natural
<br />Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721.
<br />. Denver. Colorado 80203, with interest thereon from the date of June 1, 1995, at the effective
<br />interest rate of 5% per annum, payable in 40 annual instailments, in accordance with the
<br />Promissory Note or until loan is paid in full.
<br />
<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.
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<br />Now, therefore. the GRANTOR, in consideration of the premises and for the purpose
<br />aforesaid, does hereby grant, bargain, seil and convey unto the said PUBLIC TRUSTEE in trust
<br />forever, to wit: the Loloff lateral pipeline located in Weld county, as more thoroughly described on
<br />Attachment 1, coilectively or hereinafter referred to as the "Properly."
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<br />To have and to hold the same, together with ail and singular the privileges and
<br />appurtenances thereunto belonging: In Trust nevertheless, that incase 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 shail 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 Properly 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 for sale, the PUBLIC
<br />TRUSTEE shail cau~e. a copy of the same to be recorded in the recorder's office of the county in
<br />which said Properly is situated, it shail and may be lawful for the PUBLIC TRUSTEE to seil and
<br />dispose of the same (en masse Or in separate parcels, as the said PUBLIC TRUSTEE may think
<br />best), and ail 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 shail 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 of Weld, a copy of which notice shail be mailed within ten days from the date of the first
<br />publication thereof to the GRANTOR at the address herein given and to such person or persons
<br />appearing to have acquired a subsequent record interest in said Properly at the address given in
<br />the recorded instrument; where only the county and state is given as the address then such notice
<br />shail be mailed to the county seat, and to make and give to the purchaser of the Properly at such
<br />sale, a certificate in writing describing the Properly purchased, and the sum paid therefor, and the
<br />time when the purchaser (or other person entitled thereto) shail be entitled to the deed therefor,
<br />unless the same shail be redeemed as is provided by law; and said PUBLIC TRUSTEE shail, upon
<br />demand by the person holding the said certificate of purchase, when said demand is made, Or
<br />upon demand by the person entitled toa deed to and for the Properly purchased, at the time such
<br />demand is made. the time for redemption having expired. make and execute to such person a
<br />deed to the Properly purchased, which said deed shail be in the ordinary form of a conveyance,
<br />and shail be signed, acknowledged and delivered by the said PUBLIC TRUSTEE and shail convey
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<br />Exhibit 2 to Loan Contract C153656 Amendment No.2
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