|
<br />Amended Deed of Trust
<br />
<br />To Amend Deed of Trust originally recorded in Gunnison County,
<br />On June 10, 1996 (46820 B784 P519-5201
<br />
<br />This indenture. made this 1" day of MaY 2000, between the 8eaver Reservoir Company,
<br />whose address is 1404 4100 Road. Paonia, Color~do 81428. hereinafter referred to as GRANTOR. and
<br />the Public Trustee of the County of Gunnison, State of Colorado, hereinafter referred to as PUBLIC
<br />TRUSTEE, is hereby amended to increase the loan arT70unt from $373,000 to $415,000,
<br />
<br />Witnesseth, that whereas, GRANTOR has executed a promissory note, set forth in Contract No.
<br />C153705, as amended ("Contract") for a loan in the principal sum of Four Hundred Fifteen Thousand
<br />Dollars ($415,000.00) to be repaid to the STATE OF COLORADO for the use and benefit of the
<br />Department of Natural Resources, Water Conservation Board, whose address is 1313 Sherman Street,
<br />Room 721, Denver, Colorado 80203, with interest thereon from the date of first disbursement of
<br />funds under the Contract at the effective interest rate of 2.733% per annum, payable in forty (40)
<br />annual installments. in accordance with the Promissory Note dated May 1, 2000, or until loan is paid
<br />in full.
<br />
<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest of
<br />said promissory note to the State of Colorado.
<br />
<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: An
<br />undivided 100% interest in the following properties: PARCEL A: S/2 of the NW/4 of the SE/4 of the
<br />NE/4 containing 5 acres, more or less, SW/4 of the SE/4 of the NE/4 containing 10 acres, more or
<br />less, SW/4 of the SE/4 of the SE/4 of the NE/4 COr1taining 2.5 acres, more or less, of Section 21, and
<br />the S/2 of the SW/4 of the NW/4 of the SWI cOritaining 5 acres, more or less, of section 22; all in
<br />Township 14 South, Range 90 West, 6'" Principal Meridian. PARCEL 8: The Beaver Reservoir,
<br />constructed in the channel of the East fork of Minnesota Creek with a high. water area covering
<br />portions of the SWQ/4 NE/4, SEi4 NE/4. N/2 SW/4 and the SE/4 SW/4 of Section 21 and the W/4
<br />SW/4 of Section 22, Township.J4 South, Range go West, 6'" Principal Meridian. including all control
<br />works and structures and all water measuring works and structures appurtenant thereto or used in
<br />connection therewith. together with all rights-of-way, easements, permits. licenses and franchises
<br />appurtenant thereto used in connection therewith. PARCEL C: All water and water rights appurtenant
<br />to or used in connection with the 8eaver Reservoir including, but not limited to, 551.5 acre-feet with
<br />an appropriation date of October 6, 1956, decreed by the Delta .County District Court in Civil Action
<br />4808 on January 31, 1964, and 1068.6 acre.feet with an appropriation date of October 6, 1956,
<br />decreed by the Delta County District Court in Civil Action 4808 on January 31, 1964. PARCEL 0:
<br />The Mt. Lamborn Ditch, constructed or to be constructed to divert water from Minnesota Creek at a
<br />point in the SE/4 NE/4 of Section 29, Township 14 South, range 90 West, 6'" Principal Meridian, and
<br />extending thence in a general northwesterly direction for a distance of approximately 2.5 miles to
<br />empty water into Lake Creek at a point in the NE/4 NW/4 of Section 19, Township 14 South, Range
<br />90 West, 6th Principal Meridian, together with all rights-of-way, easements, permits, licenses and
<br />franchises appurtenant thereto or used in connectiOn therewith. (collectively or hereinafter referred to
<br />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
<br />part thereof, or in the payment of the interest thereon, according to the tenor and effect of said note
<br />or in the payment of any prior encumbrances, principal or interest, if any, or in case default shall be
<br />made in or in case of violation or breach of any of the terms, conditions. covenants or agreements
<br />contained in the Contract, the beneficiary hereunder may declare a violation of any of the covenants
<br />contained in the Contract and elect to advertise said Property for sale. and demand such sale by filing
<br />a notice of such election and demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of
<br />election and demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the
<br />recorder's office of the county in which said Property is situated. it shall and may be lawful for the
<br />PUBLIC TRUSTEE to sell and dispose of the same len masse or in separate parcels, as the said PUBLIC
<br />TRUSTEE may think best), and all the right; title and interest of the GRANTOR, its successors or assigns
<br />therein, at public auction at such time and at such location as shall be designated in the PUBLIC
<br />
<br />Appendix 2 to Loan Contract C153705 Amendment No.2
<br />
|