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<br />RCPTN # 99033692 04/21/99 09:02:00 # PAGES - 4 FEE- <br />M RODENBERGER RECORDER, LARIMER COUNTY CO STATE DOC FEE - <br /> <br />Deed of Trust <br /> <br />This indenture, made this 3M day of ~ ,11t'f~ , between'lhe North Poudre Irrigation <br />Company, whose address is 'P.O. Box 100, Wellington, CO 86549, hereinafter referred to as GRANTOR, and the <br />Public Trustee of the County of Larimer, State of Colorado, hereinafter referred to as PUBLIC TRUSTEE, <br /> <br />Witnesseth, that whereas, GRANTOR has executed a promissory note, set forth in Contract No. C153833 <br />("Contract") for a loan in the principal sum of $500,000 to be repaid to the STATE OF COLORADO for the use and y <br />benefit of the Department of Natural Resources, Water Conservation Board, whose address is 1313 Sherman <br />Street, Room 721, Denver, Coiorado 80203, with interest thereon from the date of first disbursement of funds under <br />the Contract at the effective interest rate of 4.03% per annum, payable in 20 annual installments, in accordance <br />with the Promissory Note Provisions of said Contract, or until the loan is paid in full. <br /> <br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest of said promissory note to <br />the State of Colorado. <br /> <br />$21.00 <br />$.00 <br /> <br />Now, therefore, 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: <br /> <br />The North Poudre Reservoirs #5 and #6, all appurtenant structures thereto and all lands upon which these <br />reservoirs iie, as more particularly described in Attachment A (collectively or hereinafter referred to as the <br />"Property"). <br /> <br />To have and to hold the same, together with all and singular the privileges and appurtenances thereunto <br />belonging: In Trust nevertheless, that in case of default In the payment of said note, or any part thereof, or in the <br />payment of the Interest thereon, 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 violation or breach of <br />any of the terms, conditions, covenants or agreements contained in the Contract, the beneficiary hereunder may <br />declare a violation of any of the covenants contained in the Contract and elect to advertise said Property for sale, <br />and demand such sale by filing a notice of such election and demand for sale with the PUBLIC TRUSTEE. Upon <br />receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be <br />recorded in the 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 (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 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 <br />best price the same will bring in cash, four weeks public notice having been previously given of the time and place <br />of such sale, advertisement once each week for five consecutive weeks, in some newspaper of general circulation <br />at that time published in said County of Larimer, a copy of which notice shall be mailed within ten days from the <br />date of the first 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 Property at the address given in the recorded <br />instrument; where only the county and state is given as the address then such notice shall be mailed to the county <br />seat, and to make and give to the purChaser of the Property at such sale, a certificate in writing describing the <br />Property purchased, and the sum paid therefor, and the time when the purchaser (or other person entitled thereto) <br />shall be entitled to the deed therefor, unless the same shall be redeemed as is provided by law; and said PUBLIC <br />TRUSTEE shall, upon demand by the person holding the said certificate of purchase, when said demand is made, or <br />upon demand by the person entitled to a deed to and for the Prop,erty purchased, at the time such demand is made, <br />the time for redemption having expired, make and execute to su~h persona deed to the Property purchased, which <br />said deed shall be in the ordinary form of a conveyance, and snail be signed, acknowledged and delivered by the <br />said PUBLIC TRUSTEE and shall convey and quitclaim to such person entitled to sllch deed, the Property purchased <br />as aforesaid and all the right, title, interest, benefit and equity of redemption of the GRANTOR, its successors and <br /> <br />Appendix 4 to Loan Contract C153833 <br />