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<br />257485 B-524
<br />NANCY R. ANICK
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<br />P-9~ 06/10/96 11:02A PG 1 0 2 REC DOC
<br />~rATE OF COLoRADO COUNTY OF RIO BLANCO 11.00
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<br />Deed of Trust .
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<br />rlns l1ultrdJm, made thisJO!!<day of fJOVFfHP:,E/I2..... 1995, between CARYL
<br />R. CARROLL whose address is P. O. Box 219, Cocoa, Florid~ 32923-0219. hereinafter
<br />referred to as GRANTOR, and the Public Trustee of the County of Rio Blanco. State of
<br />Colorado. hereinafter referred to as PUBLIC TRUSTEE.
<br />
<br />WIbra5dh, lhRi "haw, GRANTOR has executed a promissory note. set forth in
<br />Contract #C 1 53682 (the Contract) dated August 22. 1994, as amended, for a loan in
<br />the amended principal sum of Seventy-Five Thousand Dollars ($75.000). to be repaid to
<br />the STATE OF COLORADO for the use and benefit of tl1e Department of Natural
<br />Resources, Water Conservation 80ard, whose address is 1313 Sherman Street. Room
<br />721. Denver, Colorado 80203, with interest thereon from the date of first disbursement
<br />of funds under the Contract at the rate of 2% per annum on the first $50,000and 3.75% annum on the remaining $25,000,
<br />payable in 20 annual installments. or until loan is paid in full.
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<br />A1ld whtrw, the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to the
<br />State of Colorado.
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<br />NDIf, therr.forc. the GRANTOR. in consideration of the premises and for the purpose aforesaid. does hereby grant.
<br />bargain, sell and convey unto the said PuBLIC TRUSTEE in trust forever. to wit: Borrower's interest In 703.9 acre-feet of water
<br />rights adjudicated to the DD&E Reservoir, decreed as follows: an undivided 200.4 acre-feet adjudicated 10/26/1931. priority V
<br />43A, and an undivided 503.5 acre-feet adjudicated 9/111960. priority 7, all of which is located in S2 & S3. T2N R92W 6PM.
<br />Rio Blanco County, StatB of Colorado, (collectively or hereirlafter referred to BS the "Property").
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<br />To 1uwe IIIU! to IwId the same, together with all and singular the privileges and eppurtenances thereunto belonging:
<br />In Trust nevertheless, that in case of default in the payment ot said note, or any part thereof, or in the payment of the interest
<br />thereon, according to the tenor and effect of said note or in the payment of any prior encumbrances, principal or interest,
<br />if any, or in case default shall be made in or in case of viol~tion or breach of any of the terms, conditions, covenants or
<br />agreements contained in the Contract, the beneficiary hereu.rtder may declare a violation of any of the covenants contained
<br />in the Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of such election and
<br />demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE
<br />shall cause a copy of the same to be recorded in the recorder's office of the county in which said Property is situated. it shall
<br />and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same (en 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 heirs or assigns therein, at public auction at
<br />such time and at such location as shall be designated in the PUBLIC TRUSTEE's Notice of Sale. for the highest and best price
<br />the same will brin9 in cash. four weeks public notice havirlg been previously given of the time and place of such sale,
<br />advertisement once each week for five consecutive weeks, ir> some newspaper of general circulation at that time published
<br />in said County of Rio Blanco. a copy of which notice shall be mailed within ten days from the date of the first publication
<br />thereof to the GRANTOR at the address herein given and to such person or persons eppearing to have acquired a subsequent
<br />record interest in said Property at the address given in the recorded instrument; where only the county and state is given as
<br />the address then such notice shall be mailed to the county seat. and to make and give to the purchaser of the Property at
<br />such sale, a certificate in writing describing the Property piJrchased, and the sum paid therefor, and the time when the
<br />purchaser lor other person entitled thereto) shall be entitled to the deed therefor. unless the same shall be redeemed as is
<br />provided by law: and said PUBLIC TRUSTEE shall, upon demand by the person holding the said certificate of purchase, when
<br />said demand is made, or upon demand by the person entitled to a deed to and for the Property purchased, at the time such
<br />demand is made, the time for redemption having expired, make and execute to such person a deed to the Property purchased.
<br />which said deed shall be in the ordinary form of a conveyance, and shall be signed, acknowledged and delivered by the said
<br />PUBLIC TRUSTEE and shall convey and quitclaim to such person entitled to such deed, the Property purchased as aforesaid and
<br />all the right, title, interest, benefit and equity of redemption of the GRANTOR, its heirs and assigns made therein, and shall
<br />recite the sum for which the said Property was sold and shall refer to the power of sale therein contained, and to the sale
<br />made by virtue thereof; and in case of an assignment of such certificate of purchase. or in case of the redemption of the
<br />Property, by a subsequent encumbrancer, such assignment or redemption shall also be referred to in such deed: but the notice
<br />of sale need not be set out in such deed and the PUBLIC TRUSTEE shall. out of the proceeds or avails of such sale, after first
<br />paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary hereunder the principal and interest
<br />due on said note according to the tenor and effect thereof, and all moneys advanced by such beneficiary or legal holder of
<br />said note for insurance, taxes and assessments, with intereGt thereon at ten per cent per annum, rendering the surplus, if
<br />any, unto the GRANTOR, its legal representatives or assigns; which sale and said deed so made shall be a perpetual bar, both
<br />in law and equity, against the GRANTOR, its heirs and assigns, and all other persons claiming the Property, or any part thereof,
<br />by. from, through or under the GRANTOR, or any of them. The holder of said note may purchase Property or any part thereof:
<br />and it shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money.
<br />And the GRANTOR, for itself and its heirs, personal representatives or assi9ns covenants and agrees to and with the
<br />PUBLIC TRUSTEE, that at the time of the unsealing of and delivery of these presents it is well seized of the Property in fee
<br />simple, and has good right, full power and lawful authority to grant, bargain,- sell and convey the same in the manner a-nd
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<br />.ll TT .llrI-lMI=NT 1
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