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IIIIII IIIII Ilfli 1IIII IIIf IIII{1IITIIIII III Ifll1 IIII fllf 02264054q
<br />Deed of Trust
<br />This indenture, made this 15} day of February 2002, between the Boulder and Left
<br />Hand Irrigation Company, whose address is 8003 North 95th Street, Longmont, CO 80501,
<br />hereinafter referred to as GRaNTOR, and the Public Trustee of the County of Boulder, State of
<br />Colorado, hereinafter referred to as Puauc TRUSTEE,
<br />Witnesseth, that whereas, GRaNroR has executed a promissory note dated May 8,
<br />2000, set forth in Contract No. C150009 dated May 8, 2002 and amended February 1, 2002
<br />("ContracP') for a loan in the principal sum of $100,000 to be repaid to the STATE OF
<br />COLORADO for the use and benefit of the Department of Natural Resources, Water
<br />Conservation Board, whose address is 1313 Sherman Street, Room 721, Denver, Colorado
<br />80203, with interest thereon from the date of first disbursement of funds under the Contract at
<br />the effective interest rate of 3.75% per annum, payable in 20 annual instailments, in
<br />accordance with the Promissory Note Provision of said Contract, or until loan is paid in full. .
<br />And whereas, the GwaNroR is desirous of securing payment of the principal and
<br />interest of said promissory note to the State of Colorado.
<br />Now, therefore, the GRa,NTOR, in consideration of the premises and for the purpose
<br />aforesaid, does hereby grant, bargain, sell and convey unto the said Pueuc TRUSTEE in trust
<br />forever, to wit: The Hayden Lake, more particularly described on Attachment 1, collectively or
<br />hereinafter referred to as the "Property."
<br />To have and to hofd the same, together with alf and singular the privifeges and
<br />appurtenances thereunto belonging: In Trust nevertheless, that in case of default in the
<br />payment of said note, or any part thereof, or in the payment of the interest thereon, according
<br />to the tenor and effect of said note or in the payment of any prior encumbrances, principal or
<br />interest, if any, or in case default shall be made in or in case of violation or breach of any of
<br />the terms, s�onditions, covenants or agreements contained in the Contract, the beneficiary
<br />hereunder may declare a violation of any of the covenants contained in the Contract and elect
<br />to advertise said Property for sale, and dernand such sale by filing a notice of such election
<br />and demand for sale with the Pueuc TRUSTEE. Upon receipt of such notice of election and
<br />demand for sale, the Pusuc TRUS7EE 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 Iawful for
<br />the PuBUC TRUSrEE to sell and dispose of the same (en masse or in separate parcels, as the
<br />said Puauc TRUST�E may think best), and all the right, title and interest of the Grza,NTOR, its
<br />successors or assigns therein, at public auction at such time and at such location as shall be
<br />designated in the Pueuc TRUSTEE's Notice of Sale, for the highest and best price the same will
<br />bring in cash, four weeks public notice having been previously given of the time and place of
<br />such sale, advertisement once each week for five consecutive weeks, in some newspaper of
<br />general circulation at that time published in said County of Boulder, a copy of which notice
<br />sha11 be maifed within ten days from the date of the first publication thereof to the GRnrvroR at
<br />the address herein given and to such person or persons appearing to have acquired a
<br />subsequent record interest in said Property at the address given in the recorded instrument;
<br />where only the county and state is given as the address then such notice sha11 be mailed to
<br />Appendix 2 to Contract C150009 Amendment No. 1
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