CT2015-164 Remaining Collateral emails 6/29/15

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7/9!2015 State.co.us Executive Branch Mail-Follow Up re Two Rivers Title • • STATE OF S COLORADO Mason - DP EMAIL REGARDING REMAINING PROPERTY m..__ . ..._._.___ HELD AS COLLATERAL Follow Up re Two Rivers Title 6/29/2015 1 message Nicole Nies <nnies @hcnwf-law.com> Mon, Jun 29, 2015 at 9:35 AM To: "Mason- DNR, Peg" <peg.mason @state.co.us> Cc: Wayne Harding <WHarding @trgrowco.com>, Teresa Staples <tstaples @hcnwf-law.com> Peg, I have attached the following documents: 1) The original vesting deed(transferring title to Two Rivers Water Company)and the DOT granted by TRWC,Inc.to CWCB in connection with the loan.The legal descriptions to both documents match up and show Parcels I—V. a. Parcels II—V are still owned by Two Rivers Water Company (n/k/a Two Rivers Water&Farming Company). b. Parcel I was subdivided into 4 parcels and transferred from Two Rivers Water&Farming Company to GrowCo,Inc..I will call each of those Parcels 1(a), 1(b), 1(c)and 1(d).GrowCo,Inc.then transferred Parcels 1(a)and 1(b)to the entities noted below.Note that all of these entities are affiliated(under Two Rivers Water&Farming Company). c. Parcel 1(a)is held by GrowCo Partners 1,LLC d. Parcel 1(b)is held by GrowCo Partners 2,LLC e. Parcels 1(c)and 1(d)are held by GrowCo,Inc. 2) A pdf with the deeds showing the chain of title for Parcel 1(a), 1(b), 1(c)and 1(d). 3) An entity chronology showing where the mix-up happened relative to the TRWC,Inc.vs.Two Rivers Water Company ownership.The title commitment obtained by CWCB was NOT right.TRWC,Inc.(f/k/a Two Rivers Water Company)did NOT hold title at the time of the granting of the deed of trust.The entity that held title was Two Rivers Water&Farming Company(known as Two Rivers Water Company at the time the deed of trust was granted).TRWC, Inc.(Entity 2 in the attached document)was a shell entity that was only formed to hold the name Two Rivers Water Company until the name of the Navidec Financial Services,Inc.entity could be changed to Two Rivers Water Company. Entity 1 (in the attached document)is the entity that was and is the going concern.It is the entity that should have been the original grantor under the deed of trust and should have been shown in the title commitment as the entity with title to the property. I am happy to meet and walk through all of this with you.The purpose of the loan amendment is to reflect the pay down of the CWCB loan and cause CWCB to release its lien on Parcels 1(a), 1(b), 1(c)and 1(d)—those parcels that have been transferred.We can also use this opportunity to address the issue that we just discovered-that the original deed of trust encumbering Parcels I—V was not granted by the entity in title—an inadvertent mistake on the part of all parties. baps://mail.google.com/mail/u/1/?ui=28,ik=30a2528dad&view=pt&cat=001Pend%20Amend&searctFcat&dh14e3ff5e411a249c&siml=14e3ff5e411a249c 1/2