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<br />564718 03/24/2003 03:14P B967 P36 Ann Eddins
<br />1 of 2 R 10.00 D 0.00 Della Cly, CO Clerk & Rec
<br />
<br />Deed of Trust
<br />
<br />January 1, 2003
<br />THE DELTA CANAL COMPANY
<br />COLORADO WATER CONSERVATION BOARD
<br />DELTA
<br />$75,000
<br />Loan Contract No. C150108, dated January 1, 2003
<br />Interest of 2.75% per annum and repayment period of 30 years
<br />Delta Canal system consisting of the Delta Canal and individual
<br />head gates to water users. The Canal is located beginning at the
<br />headgate for the ditch at the Uncompahgre River on the ri~ht bank of
<br />said stream, whence the SW/C of See 30 T 15 S R 95 W 6 PM bears
<br />578'30' W557 feet distance. The line of said ditch begins at said point
<br />and thence runs as follows: N730 30' W100 feet 5780 30' W170 feet to
<br />headgate, thence N80' W64 feet, N18' 30' W273 feet N100 E233 feet
<br />N61' E118 feet, N36' E100 feet, N5' W130 feet N340 W622 feet,
<br />thence N340 W32 feet NO' 25' E1233 feet, NOO 45' W750 feet, N37'30'
<br />E300 feet, N40'30' E70 feet to center of Denver and Rio Grande
<br />Railroad track, thence N38030' E240 feet, N710 E80 feet, N44' E115
<br />feet, N2r E290 feet, N10 E190 feet, N17030' W2700 feet, No030'
<br />W130 feet, N14030' W550 feet, N6'30' W800 feet, N7045' W480 feet,
<br />thence west along the north side of 7th street in the town of Delta, Delta
<br />County, Colorado 1618 feet thence west 1212 feet N340 W530 feet,
<br />N21030' W430 feet, N38030' W260 feet, N630 W105 feet west 880 feet
<br />to the Uncompahgre River.
<br />This indenture is between the GRANTOR, and the Public Trustee of the above referenced
<br />COUNTY, State of Colorado ("PUBLIC TRUSTEE"),
<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 terms as
<br />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 />. 'l"o-have 'aneno hold fhe same:togetfier With all appurtenances, in trust neveitfte[ess, that in
<br />case of default in the payment of said Promissory Note, or any part thereof, or the interest thereon, or
<br />in the performance of any covenants hereinafter set forth or in said Promissory Note or LOAN
<br />CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, said PUBLIC
<br />TRUSTEE, after advertising notice of said sale weekly for not less than four weeks in some newspaper
<br />of general circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in
<br />effect at the time of filing said notice and demand, at public auction for cash, at any proper place
<br />designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or
<br />pay first aH fees, charges and costs and aH moneys advanced for taxes, insurance and assessments,
<br />or on any prior encumbrance, with interest thereon and pay the principal and Interest due on said
<br />Promissory Note, rendering the overplus, if any, unto the GRANTOR; and after the expiration of the
<br />time of redemption, the PUBLIC TRUSTEE shaH execute and deliver to the purchaser a deed to the
<br />
<br />DATE:
<br />GRANTOR:
<br />BENEFICIARY:
<br />COUNTY:
<br />PRINCIPAL LOAN AMOUNT:
<br />LOAN CONTRACT:
<br />TERMS:
<br />COLLATERAL:
<br />
<br />
<br />Appendix 5 to Loan Contract C1501 08
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