|
<br />00380730 12/03/2003 09:45am BK: 0511 PG: 1305
<br />SANDRA J JACKSON, RECORDER, RIO GRANDE CTY, CO
<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />REPAYMENT TERMS:
<br />COLLATERAL:
<br />
<br />Deed of Trust
<br />
<br />November 1, 2003
<br />
<br />THE RIO GRANDE AND PIEDRA VALLEY DITCH COMPANY
<br />
<br />COLORADO WATER CONSERVATION BOARD
<br />
<br />RIO GRANDE
<br />
<br />$52,520
<br />
<br />Loan Contract No. c150155, dated November 1, 2003
<br />
<br />2.50% Interest per annum for a period of 30 years
<br />
<br />An undivided one hundred percent (100%) interest in the Grantor's
<br />headgate and diversion structure located in the Southeast Quarter of
<br />Section 8, Township 39 North Range 7 East, 6th P.M., Rio Grande
<br />County, Colorado, together with all easements, rights-of-way and all other
<br />structures, appliances, fixtures and any other property used in connection
<br />with the operation of said structures and access to said structures.
<br />
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced "
<br />COUNTY, State of Colorado ("PUBLlC TRUSTEE"),
<br />
<br />FACTUAL RECITALS
<br />1. The GRANTOR has executed a Promissory Note of even date and amount, set forth in the LOAN
<br />CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, with REPAYMENT
<br />TERMS as shown above and in accordance with the Promissory Note or until loan is paid in full.
<br />2. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of said
<br />Promissory Note to the BENEFICIARY.
<br />The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby
<br />grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described
<br />COLLATERAL.
<br />To have and to hold the same, together with all appurtenances, in trust nevertheless, that in
<br />case of default in the payment of said Promissory Note, or any part thereof, or the interest thereon, or in
<br />the performance of any covenants hereinafter set forth or in said Promissory Note or LOAN CONTRACT,
<br />then upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC TRUSTEE, after
<br />advertising notice of said sale weekly for not less than four weeks in some newspaper of general
<br />circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the
<br />time of filing said notice and demand, at public auction for cash, at any proper place designated in the
<br />notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE. shall retain or pay first all fees,
<br />charges and costs and all moneys advanced for taxes, insurance and assessments, or on any prior
<br />encumbrance, with interest thereon and pay the principal and interest due on said Promissory Note,
<br />rendering the overplus, if any, unto the GRANTOR; and after the expiration of the time of redemption, the
<br />PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to the COLLATERAL sold. The
<br />BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale.
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the
<br />COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey the
<br />same in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and
<br />
<br />Appendix 5 to Loan Contract C150155
<br />
|