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<br />RECEPTION HO. FO'l'368e.S
<br />12/28/1333 3:03:2b PG: 001-005
<br />PAGE FEE: 25.00 DOC.FEE: 0.00
<br />RECORDED IN JEFFERSON COUNTY, COLORADO
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<br />Deed of Trust
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<br />This indenture, made this /3,1-,7 day of ~"I.",..,.6 t",r 1999, between The Consolidated
<br />Mutual Water Company, a Colorado nonprofit corporation, whose address is P.O. Box 150068,
<br />Lakewood, Colorado 80215, hereinafter referred to as GRANTOR, and the Public Trustee of the County /
<br />of Jefferson, State of Colorado, hereinafter referred to as PUBLIC TRUSTEE,
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<br />Witnesseth, that whereas, GRANTOR has executed a Promissory Note, which is a part of
<br />Contract No. C150011 (the Contract) for a loan in the principal sum of Ten Million Dollars
<br />($10,000,000) to be repaid to the STATE OF COLORADO or the use and benefit of the Department of
<br />Natural Resources, Water Conservation Board, whose address is 1313 Sherman Street, Room 721, ,
<br />Denver, Colorado 80203, payable in 10 annual installments, in accordance with the terms of the
<br />Promissory Note, or until the loan is paid in full.
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<br />And whereas, the GRANTOR is desirous of securing payment of the principal and interest of
<br />said promissory note to the State of Colorado.
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<br />Now, therefore, the GRANTOR, in consideration of the premises and for the purpose aforesaid,
<br />does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, to wit: an
<br />undivided one hundred percent (100%) interest in 2,841/40 shares in The Agricultural Ditch and Reservoir
<br />Company evidenced by Certificate No. 5803, The shares represent the Grantor's pro rata interest in the
<br />water rights described 'in attached Exhibit A, collectively or hereinafter referred to as the "Property.'
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<br />To have an an smgu ar the privileges and appurtenances
<br />thereunto belonging: In Trust nevertheless, that in case of default in the payment of said note, or any
<br />part thereof, or in the payment oLthe interest thereon, according to the tenor and effect of said note or
<br />in the payment of any prior encumbrances, principal or interest, if any, or in case default shall be made
<br />in or in case of violation or breach of any of the terms, conditions, covenants or agreements contained
<br />in the Contract, the beneficiary hereunder may declare a violation of any of.the covenants contained in
<br />the Contract and elect to advertise said Property for sale, and demand such sale by filing a notice of
<br />such election and demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election
<br />and demand for sale, the PUBLIC TRUSTEE shall cause a copy of the same to be recorded in the
<br />recorder's office of the county in which said Property is situated, it shall and may be lawful for the
<br />PUBLIC TRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said PUBLIC
<br />TRUSTEE may think best), and all the right, title and interest of the GRANTOR, its successors or assigns
<br />therein, at public auction at such time and at such location as shall be designated in the PUBLIC
<br />TRUSTEE'S Notice of Sale, for the highest and best price the same will bring in cash, four weeks public
<br />notice having been previously given of the time and place of such sale, advertisement once each week
<br />for five consecutive weeks, in some newspaper of general circulation at that time published in said
<br />county, a copy of which notice shall be mailed within ten days from the date of the first publication
<br />thereof to the GRANTOR at the address herein given and to such person or persons appearing to have
<br />acquired a subsequent record interest in said Property at the address given in the recorded instrument;
<br />where only the county and state is given as the address then such notice shall be mailed to the county
<br />seat, and to make and give to the purchaser of the Property at such sale, a certificate in writing
<br />describing the Property purchased, and the sum paid therefor, and the time when the purchaser (or
<br />other person entitled thereto) shall be entitled to the deed therefor, unless the same shall be redeemeti
<br />as is provided by law; and said PUBLIC TRUSTEE shall, upon demand by the person holding the said
<br />certificate of purchase, when said demand is made, or upon demand by the person entitled to a deed
<br />to and for the Property purchased, at the time such demand is made, the time for redemption having
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<br />Appendix 0 to Loan Contract No.C150011
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