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<br />BOOK2302 tlrGE11
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<br />DEED OF TRUST
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<br />1788588 0942An 02/19/97
<br />NONIKh TODD C~K&REC nESA COUNTY Co
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<br />THIS indenture, made this 20th day orDecember.1996. between the WESI' DIVIDE WATER
<br />CONSERVANCY DISTRICT, whose address is P. O. Box 1478, RiDe, Colorado 81650-1478, hereinafter
<br />referred to 85 GRANTOR, Bnd the Public Tmstee of the County of Mess, State of Colorado, hereinafter
<br />referred to as PUBUC TRUSTEE.
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<br />Witnesseth, that whereas, GRANTOR bas exewted a promissory Dote, set forth in Contract
<br />#C153592 dated June 15, 1991, as amended ("Contract") for a loan in the principal sum of $70,000.00 to be
<br />repaid to the STATE OF COLORADO, for the use and benefit orthe Department or Natural Resources, Water
<br />Conservation Board, wbose address is 1313 Sherman Stneit Room 721, Denver, Colorado 80203, to be paid
<br />i~ thirty (30) annual installments. in accordance with tbe Promissory Note provision or said Contract, or unti)
<br />" loan is paid in full.
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<br />And whereas, the GRANToR Is desirou~ or~rin8 pa,..ueiat ~f the principal and interesi
<br />of said promissory note to the State or Colorado.
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<br />Now, tberefore, tbe GRANTOR, in consideration of the premises and tor the purpose
<br />aroresaid, does hereby grant, bargain, sell and convey unto tbe PUBUC TRUSTEE in trust forever, to wit:
<br />an undivided fifty percent (50%) interest in the Alsbury Reservoir, decree dated July 9, 1965, io Case No. 4954,
<br />Appropriation Priority Date is June 15, 1961, Struanre #194, Priority #271, a conditional rigbt for 249.76
<br />acre-feet for water out of East Divide Creek, tributary to Colorado River; together with all easements and
<br />rights~of~way appurtenant thereto and all improvements thereon; the dam, reservoir, measuring devices,
<br />spillway, outlet works, mitigation ponds and all other physical and legal features known as Alsbury Reservoir,
<br />as constructed and in place. located on twenty-five (25) acres in swv.. NEv.. of Section 30, Township 8 Soutb,
<br />Range 90 West, 6th P.M., in Mesa County, Colorado, on property owned by the United States Government
<br />(Forest Service) as pennitted under Permit Holder No.llU-Ol (collectively or hereinafter referred to as the
<br />"Property").
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<br />To have and to hold the same, together with all and singular tbe privileges and appurtenances
<br />thereunto belonging; 10 Trust nevertheleSs, that In case of default In the payment ~lsa1d note, or any pari
<br />thereof, or in the payment of the Interest thereon; according to tbe tenor and effect of said note or in tbe
<br />payment of any prior encumbrances, principal or interest, if any, or in case deCault sball be made or In case
<br />of violation or breach of any of the tenns, conditions, covenants or agreements contained in the Contract, the
<br />beneliciary hereunder alay de(lare a violation of any of tbe (Ovenants contained 10 the Contract and eled to
<br />advertise said Property Cor sale, and demand such sale by filing a notice of such election and demand for sale
<br />with the PUBUC TRUSTEE. Upon receipt of such notice of eledion and demand for sale, the PUBUC
<br />TRUSTEE shall cause a copy of tbe same to be recorded in the recorder's office of the county in which said
<br />Property is situated, it shall and may be lawful for the PUBUC TRUSTEE to sell and dispose of the same
<br />(en masse or in separate parcels, as the said PUBUC TRUSTEE may think best), and all the right, title and
<br />interest of the GRANTOR, it sUCCesSol'6 or assigns therein, at public auction at such time and at such location
<br />as shall be designated in tbe PUBUC TRUSTEE's Notice of Sale, for the highest and best price the same will
<br />bring in cash, four (4) weeks public notice having been previously given of the time and place of such sale,
<br />advertisement once eacb week for five (5) consecutive weeks, in some newspaper of general circulation at that
<br />time publisbed in said County of Mesa, a copy of which notice shall be mailed within ten (10) days from tbe
<br />date of the first publication thereof to the GRANTOR at the address herein given and to such penon or
<br />penoDs appearing to have acquired a subsequent record iaterest In said Property at the address given in the
<br />re(orded instrument; where onl)' the countY and state is given as the address, then such notice shall be mailed
<br />to the county seat, aDd to bUlb and give to the purc:haser of the Property at such sale, . certificate in writing
<br />describing tbe _Property purchased, and tbe sum paid therefor, and the time when the purc:haser (or other
<br />person entitled thereto) shall be entitled to the deed therefor, unless the same shaD be redeemed as is
<br />provided by law; and said PUBUC TRUSTEE shall, upon demand by the person holding the said ceriificate
<br />of purchase, when said demand is made, or upon demand by the person entitled to a deed to and for the
<br />Property purchased, at tbe time sucb demand is P18de, the time for redemption bavlng expired, make and
<br />execute to such person a deed to tbe Pro~rty punhused, wbich said deed shall b., in the oroinal)' Conn of
<br />a conveyance, Bnd shall be signed, acknowledged and delivered by the said PUBUC TRUSTEE and shall
<br />convey and quitclaim to such person entitled to such deed, tbe Property purchased as aforesaid and aU the
<br />right, title, interest, benefit and equity of redemption of tbe GRANTOR, its successors snd assigns made
<br />tberein, and shall recite the sum fOf which the said Propeny was sold and shadl refer to the power or ~I~
<br />therein contained, and to the sale made by virtue tbereof; and in case of aD assignment of such certificate of
<br />punbose, or in case of the redemption of the Property, by a subsequent encumbrance, sucb assignment or
<br />redemption shall also be referred to in such deedj but the Dotice of sale need not be set out in such deed aud
<br />tbe PUBUC TRUSTEE shall, out of all the proceeds or avails of su(h sale, after Orst paying and retainiug
<br />all rees, cbarges and costs of making such sale, pa1 to tbe beneficiary bereunder the principal and interest
<br />due on said note according to tbe tenor and effed thereof, and all moneys advanced by such beneficiary or
<br />legal holder of said note for insurance, taxes and assessments, with interest thereon at ten percent (10%) per
<br />annum, rendering the surpluSt if any, unto the GRANTOR, its legal representatives or assign&, which sale aod
<br />said deed 80 made shall be a perpetual baf, both in law and equity, against the GRANTOR, its successors and
<br />assigns, and all other persons claiming the Property, or any pari tbereof, by, from, through or under the
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