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<br />2799287 10/10/2000 02:13P JA Suki Tsukamoto
<br />1 of 4 R 20,00 00.00 Weld County CD .
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<br />Deed of Trust
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<br />This indenture, made this J.fl! day of August 2000, between the Jackson Lake
<br />Reservoir and Irrigation Company, whose address is P.O, Box 38, Fort Morgan Colorado,
<br />80701, hereinafter referred to as GRANTOR, and the Public Trustee of the County of Weld,
<br />State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
<br />
<br />Witnesseth, that whereas, GRANTOR has executed a promissory note, set forth in
<br />. Contract No. C150043 (the Contract) for a loan in the principal sum of $336,600 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
<br />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 4% per annum, payable in 30
<br />annual installments, in accordance with the terms of the Promissory Note, or until loan is
<br />paid in full.
<br />
<br />And whereas, the GRANTOR is desirous of securing payment of the principal and
<br />interest of said promissory note to the State of Colorado.
<br />
<br />Now, therefore, the GRANTOR, in consideration of the premises and for the purpose
<br />aforesaid, does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in
<br />trust forever, to wit: The head gate of the Jackson Lake Reservoir and Irrigation company,
<br />located at a point on the North Bank of the South Platte River 900 feet South and 200 feet
<br />West of the center of the Southeast Quarter (SE1/4) of Section 18, Township 4 North,
<br />Range 61 West of the 6th P.M., Weld County, Colorado, collectively or hereinafter
<br />referred to as the "Property."
<br />
<br />To have and to hold the same, together with all and singular the privileges 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,
<br />according to the tenor and effect of said note or in the payment of any prior
<br />encumbrances, principal or interest, if any, or in case default shall be made in or in case of
<br />violation or breach of any of the terms, conditions, covenants or agreements contained in
<br />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
<br />sale by filing a notice of such election and demand for sale with the PUBLIC TRUSTEE.
<br />Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE shall
<br />cause a copy of the same to be recorded in the recorder's office of the county in which
<br />said Property is situated, it shall and may be lawful for the PUBLIC TRUSTEE to sell and
<br />dispose of the same (en masse or in separate parcels, as the said PUBLIC TRUSTEE may
<br />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
<br />PUBLIC TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in cash,
<br />four weeks public notice having been previously given of the time and place of such sale,
<br />advertisement once each week for five consecutive weeks, in some newspaper of general
<br />circulation at that time published in said county, a copy of which notice shall be mailed
<br />
<br />Appendix 4 to Loan Contract C1 ~0043
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