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<br />Recorded at
<br />Reception No.
<br />
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<br />
<br />AUG 8 8 1996
<br />FVIE RITTHALI:I1
<br />
<br />RecorderKtA.J""
<br />
<br />DEED OF TRUST ...
<br />::]"""""'1
<br />THIS INDENTURE, Made this 13+ h day or Deeember
<br />THE SUMMIt RESERVOIR & IRRIGATION CO,
<br />wboseaddressis :Box 127, Dolores, Colorado
<br />
<br />jqq,/
<br />,~ ,between
<br />
<br />800K0732 PAtE 249
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<br />hereinaft.er rererred to as grantor, and the Public 'Ih1stee oHhe .County or
<br />Montezuma ,State or Colorado, hereinafterref'erred to as Public lhIstee,
<br />WITNESSETH, THAT, WHEREAS, THE SUMMIT- RESERVOIR & IRRIGATIW CO.
<br />Jl\NVAA~
<br />hascxecutedapromissorynoteornotes,bereinafterreferredtointbesingular,datedDcee.mller J3 , t99-3 jQCj4 ,rorthe
<br />priodpol wm of THIRTY ,THREE THOUSAND ($33,000.00) ----------=----------------- Doll",
<br />payable to the orderor State of Colorado for the use and benefit of the Colorado Water
<br />Conservancy Board
<br />whoseaddressis 1313 Sherman ~~'..~' 721, Denver, CO
<br />
<br />attherateor four (4)
<br />interest over 30
<br />
<br />after the date hereof, with interest thereon from the date thereor
<br />per cent per annum, payable in annual installments of principal and
<br />years,
<br />
<br />AND WHEREAS, the grantor is desirous or securing payment or the principal and interest or said promissory note in whose hands soever the said
<br />note may be.
<br />NOW THEREFORE, the grantor, in consideration orthe premises and ror the purpose arOJ:esIlid, does hereby grant, bargain, sell and convey unto
<br />the said Public NCll'in ttust rorever, the rollowing described property, situate in the County or
<br />Montezuma " ,State or Colorado, to wit;
<br />The Southwest Quarter of the Northeast Quarter (sw/4NE4) and the South Half of
<br />the Northwest Quarter (S/2W/4) of Section thirty-four (34), Township Thirty-
<br />Seven (37JI4orth, Range Fourteen (14) West of the New Hexico Principal Heridian
<br />and tha';I,or'theast Quarter Southwest Quarter (NE/4SW/4) of Section Thirty-four
<br />(34); Township Thirty-seven (37) North, Range Fourteen (14) West of the New
<br />Mexico Principal Meridian, with all appurtenances.
<br />
<br />**NOTE** Part of this property is subject to a perpetual lease for a ~ampground
<br />in favor of the Colorado Division of Wildlife.
<br />
<br />also known by street and Dumber as n/ a
<br />TO HAVE AND TO HOLD thesamc, together with aU and singular thepnvilegesand appurtellaneesthereunto belonging; In tmst nevertheless, that
<br />io case or default in tbe payment of said note Of any part thereor, or in the payment orthe interest thereon according to the tellOJ: and effect orsaid note, or in
<br />the payment or any prior encumbrances, principal or interest, if any. or In case derault shall be made in or in case of violation or breach or any of tho terms,
<br />conditions, coveDants or agreements herrin contained, the beneficiary hereunder or the legal bolder or the indebtedne5s secured hereby may declare a
<br />violation of any or the covenants herein contained and may eIoct to advertise said property for sale. and demand such sale by filing a notice of election and
<br />demand ror sale with the Public Th1stce. Upon rcoeipt of such notice or election and demand ror sale, the Public 'Ihlstee shall cause a COpy orthe same to be
<br />reoorded in the recorder's offioe orthe county in which said property is situated The Public 1i'ustee shall then give public notice orthe time and place or sale
<br />by advertisement to be published ror rour weeks (once each week rOJ: 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 ohuch notice shall be mailed within. ten days after the date of tile first publication thereor
<br />tothe grantoratthe address given herein, tosueb personsappearingtohave acquired asubsequentreoordinterestin said property at theaddressgiveninthe
<br />recorded instrument, and to any otbe:rpersonsas maybe provi~ bylaw. It shall and maythcnbe lawful for the Public Thlstee to sell said property for the
<br />highest and best price the same wiD bring in cash and to dispose orthe same (en masse or in separate parcels, as the said Public 'Ih1stee may think best),
<br />together with aU the right, title and interest orthe gtantor therein, at public auction at any place as may be specified by statute and dClJignated in the notice of
<br />saIe. The Public lhIstee shall make andgiveto the purchaserofsuch property at such sale, a certiftcatcin writing containing; a description orsuch property
<br />purchased; the sum paid thereror; a statement that said purcbaser shall be entitled to a deed thereror, unless the same shaD be redeemed as is provided by
<br />laWj and in the event or a continuance orthe sale, a recital that the sale was duly continued. The Public 1hIstee shaU, upon demand by the person holding the
<br />said certilicate or purchase, when said demand is made or upon demand by the person entitled to a deed to and ror the property purchased at the time such
<br />demand is made, the time rOJ: redemption having expired. make and CIl:ecu1e to s\lch person a deed to the said property purcbased. Said deed shall be in the
<br />ordinary rorm or a conveyance, and sha1I be signed, acknowledged and delivered by the said Public 1hI$tee and shall conlirm the roreclosure sale and sell and
<br />convey to such person entitled to such deed, the propcrtypurohased as aforesaid and all tbe right, title, interest, benefit and equity-or redemption or the
<br />grantor therein. The Public Trusteeshall, outorthe proceeds or avails orsuch sale, after lint paying and retaining all fees, chaIges and costsormaking said
<br />sale, pay to the beneficiary hereunder or the Icgal holder or 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 legal holder or said note ror insurance, taxes and assessments, with interest thereon at 4 per cent per
<br />annum, rendering the overplus, Ir any, unto those persons entitled thereto as a matter onaw. Said sale and said deed so made shall be a perpetual bar, both in
<br />law and equity, agaimt the grantor and all other persons daimlng the said property, or any part thereof, by, rrom, through or under the grantor. The holder or
<br />said note may purchase said property or any part thereof; and it shall not be obligatory upon the purchaser at any such sale to see to the application or the
<br />purchase money.
<br />
<br />.Jrin Denver, insert "City and".
<br />
<br />No. 341A. Rev. 12-91. DEEDQFTRUST(Pablklhlstefl)WlthD\leonStoIeClanse@ EXHIBIT C
<br />Bradford Pub1ishinJl,I143 Wazee St, DelIVer, CO 80202 -(303) 292-2500":" 8:93 :
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