<br />RCPTN # 96041325 0~10/96 16:30:00
<br />M RODENBERGER RECORDL., LARIMER COUNTY
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<br />CO
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<br />PAGES - 2 FEE
<br />STA'~ DOC FEE -
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<br />$11.00
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<br />DEED OF TRUST
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<br />THIS INDENTURE. Madetbis 8th day of March
<br />The Windsor Reservoir and Canal Company
<br />whose address is P.O. Box 206, Eaton, CO 80615
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<br />.1994
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<br />C_IJ5?? C;
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<br />hereinafter referred to asgranlor, and the Public lhtslee oftbe "County of
<br />Larimer ,Stale ofColomdo, hereinafter referred to as Public 1hIstee,
<br />WITNESSEm, TIlAT, WHEREAS,
<br />The Windsor Reservoir and Canal Company
<br />has executed apromiasory note or notes, hereinafter referred to in thc singular,dated March 8, 1994 ,forthe
<br />principal sum of Three Hundred Thousand and no / 100-------- ($300 ,000.00) ----------- Dollars,
<br />payabletotheorderoC The State of Colorado for the use and benefit of the Colorado y-:'
<br />Water Conservation Bo~rd
<br />whose address is 1313 Sherman Street, Room n.l, Denver, CO 80203
<br />after the date hereof, with interest thereon from the date thereof
<br />at thc mte of 4.25% percentpcrannum,payable in equal annual installments of $17,879.47 each
<br />for 30 years.
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<br />AND WHEREAS, the grantor is desirous of securing payment of the principal and interest of said promiSSQry note in whose hands soever the said
<br />n9te,maybe.
<br />NOW THEREFORE, the grantor, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain, sell and convey unto
<br />the said Public 'ftustce in trust forever, the following described property, situate in the County of
<br />Larimer ,State ofColor'ado, to wit
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<br />All portions o~ the Poudre Valley Canal which lie ~ithin Section 13,
<br />T 8 N, ~ 70 W, 6th P.M.~ and all appurtenant structures thereto.
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<br />also known by street and Dumber as n/ a
<br />TO HAVE AND TO HOLD thesame, together with all andsingularthe privileges and appurteoances thereunto belonging: 10 trust nevertheless, that
<br />in t:aSe of derault io the payment of said note or any part thereof, or in the payment of the interest thereon acoonling to the tenor and effect of said note, or in
<br />the payment of any prior encumbrances, principal or interest, if any, or in case default shall be made in or in case of violation or breach of any of the terms,
<br />conditions, covenants or agreements herein contained, the beneliciary hereunder or the legal holder of the indebtedness secured hereby may declare a
<br />violation oCany of the covenants berein contained and may elect to advertise said property for sale, and demand IlUch sale by filing a notice of election and
<br />demand for sale with the Public 1h1stec. Upon receipt ofsuch notice ofelec1ion and demand for sale, the Public Trustee sha1l cause a eopy of the same to be
<br />recorded in the recorder's office of the county in which said property is situated. The Public 1hJstee sh3U then give public notice of the time and place of sale
<br />by advertisement to be published for four weeks (once each week for five successive weeks) in some newspaper of general circulation at that time published
<br />in the county or counties in which said property is located. A copy of such notice shall be mailed within ten days after the date of the first publication thereof
<br />to the grantor at the address given herein, to such persons appearing to have acquired a subsequent record interest in said property at the address given in the
<br />recorded instrument, and to any other persons as may be provided by law. It shall and may then be lawful for the Publit Trustee to sell said property for the
<br />highest and best price the same win bring in cash and to dispose of the same (en masse or in separate parcels, as the said Public Trustee may think best),
<br />together with all the right, title and interest of the grantor therein, at public auction at any place as may be specified by statute and designated in the notice of
<br />sale. The Public ThIsteo shall make and give 10 the purchaser of such property at such sale, a certificate in writing containing; a description of such property
<br />purdlasedj the sum paid tht'Irefor; a statement that said purchaser shaU be entitled to a deed thmfor, unless the &ante shall be redeemed as is provided by
<br />laW; and in the event of a continuance of the sale, a recital that the sale was duty continued. The Public Trustee shall, upon demand by the person holding the
<br />said certificate of purchase, when 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 penon a deed to the said property purchased. Said deed shall be in the
<br />ordinary form of a conveyance, and shaD be signed, acknowledged and delivered by the said Public Trustee and shan oonlinn the foreclosure sale and sell and
<br />convey to such person entitled to such deed, the property purchased as aforesaid and all the right, title, interest, benefit and equity of redemption of the
<br />\VlUltor therein. The Public 'Dusteo shall, out of the proceeds or avails of such sale, after first paying and retaining aU fees, charges and costs of making said
<br />sale, pay 10 the beneficiary hereunder or the legal bolder of said note, the principal and interest due on said note according to the tenor and effect thereof, and
<br />all moneys advanced by such beneficiary or Jegal OOlder of said note for insurance, taxes and assessments, with interest thereon at 6. 5 % per cent per
<br />aonum, rendering the overplus, if any, unto those persons entitled thereto as a matter of law. Said sale and said deed so made shall be a perpetual bar, both in
<br />law and equity, a.gainst the grantor and aU other persons claiming the said property, or any part thereof, by, from, through or under the grantor. The holder of
<br />said note may purchase said property or any part thereofj and it sha1l not be obligatory upon the purchaser at any such sale to see 10 the application of the
<br />purchase money.
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<br />.Ifin Denver, iosert "City and".
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<br />No.J41A. Rev. 12-92. DEED OF TRUST (Publle1hlstee) wtth DuOD Sale Clause II>
<br />Bradford Publlshtll& t743 Ww:e St., Deliver, CO 80202 - (303) 292-2S00 - s.-93
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