CT2015-165 Filed DOT Amend 3

• Contract/PO #: CT2015-165
• Contract/PO #: C150240
• Contractor Name: Bull Creek Reservoir Canal and Power Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

PAGE DOCUMENT RECEPTION#:2780887
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Recording: $21.00,
Sheila Reiner,Mesa County,CO.
CLERK AND RECORDER
EXHIBIT 4,AMENDMENT NO.3 TO LOAN CONTRACT CT2oi5-165 (05o24o)
AMENDMENT TO DEED OF TRUST
Date: October n, 2o16
Grantor (Borrower): Bull Creek Reservoir Canal&Power Company,
a Colorado nonprofit corporation
Beneficiary (Lender): Colorado Water Conservation Board
County: Mesa
Loan Contract Number: CT2015-165 (C15o24o)
Collateral: An undivided one-hundred percent interest in
the Grantor's storage water rights, as further
described in the table attached hereto and
incorporated herein as Exhibit 4a.
This indenture is between the Grantor, and the Public Trustee of the above referenced
COUNTY, State of Colorado ("PUBLIC TRUSTEE"),
FACTUAL RECITALS
i. The GRANTOR has executed a PROMISSORY NOTE of even date and amount, set forth in the
LOAN CONTRACT, for a loan in the TOTAL LOAN AMOUNT to be repaid to the BENEFICIARY, with
TERMS OF REPAYMENT and in accordance with the PROMISSORY NOTE or until loan is paid in full.
2. The GRANTOR is desirous of securing payment of the TOTAL LOAN AMOUNT and interest of said
PROMISSORY NOTE to the BENEFICIARY.
The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby
grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described
PLEDGED PROPERTY.
To have and to hold the same, together with all appurtenances, in trust nevertheless,
that in case of default in the payment of said PROMISSORY NOTE, or any part thereof, or the
interest thereon, or in the performance of any covenants hereinafter set forth or in said
PROMISSORY NOTE or LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and
demand for sale, said PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less than
four weeks in some newspaper of general circulation in said COUNTY, shall sell said PLEDGED
PROPERTY in the manner provided by law in effect at the time of filing said notice and demand, at
public auction for cash, at any proper place designated in the notice of sale. Out of the proceeds
of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys
advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest
thereon and pay the principal and interest due on said PROMISSORY NOTE, rendering the overplus,
if any, unto the GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE
shall execute and deliver to the purchaser a deed to the PLEDGED PROPERTY sold. The BENEFICIARY
may purchase said PLEDGED PROPERTY or any part thereof at such sale.
The GRANTOR covenants that at the time of the delivery of these presents, it is well seized
of the PLEDGED PROPERTY in fee simple, and has full power and lawful authority to grant, bargain,
sell and convey the same in the manner and form as aforesaid. The GRANTOR fully waives and
releases all rights and claims it may have in or to said PLEDGED PROPERTY as a Homestead
Exhibit 4 to Loan Contract Amendment No. 3, Loan Contract No. CTa015-165
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