HomeMy WebLinkAbout20182886.tiff4411770 07/02/2018 10:56 AM
Total Pages: 8 Rec Fee: $48.00
Carly Koppes - Clerk and Recorder, Weld County, CO
DEED OF TRUST
THIS DEED OF TRUST is made this day of June- 2$ , 2018, between Ground
Water Management Subdistrict of the Central Colorado Water Conservancy District by
and through its Water Activity Enterprise ("Central"), whose address is 3209 West 28th
Street, Greeley, Colorado 80634, and the Public Trustee of Weld County ("Trustee"), for
the benefit of the County of Weld, a Political Subdivision of the State of Colorado
(County), whose address is P.O. Box 758, 1150 O Street, Greeley, Colorado 80632.
Central and County covenant and agree as follows:
1. Property in Trust. Central, in consideration of the indebtedness herein recited and
the trust herein created, hereby grants and conveys to Trustee in trust, with power of
sale, the following legally described property located in the County of Weld, State of
Colorado ("Property"):
All of the real property located in Section 2, Township 2 North, Range 68 West of
the 6th P.M. in Weld County, Colorado, and Section 35, Township 3 North, Range 68 West
of the 6th P.M. in Weld County, Colorado, described and shown in "Exhibit A," attached
hereto and incorporated herein, including:
All improvements, and any easements, servitudes, permits, licenses, and leases
appurtenant to the above -described property. These improvements specifically
include, but are not limited to, the slurry wall or other impervious liners installed by
Grantor around the area to be mined which will create the storage space being
acquired by the Grantee.
AND
All sand and gravel appurtenant to the above -described property, together
with any and all surface use, access easements, and all rights in connection
therewith.
AND
All of Grantor's interest in water rights, wells, well rights, well permits, and
springs appurtenant to and/or enjoyed in connection with the above -
described property, together with all of Grantor's interest, if any, in
easements or rights -of -way, appurtenant thereto or used in connection with
said water rights, as well as all fixtures, apparatus and ancillary equipment
appurtenant thereto or used in connection with said water rights, specifically
including any water conveyance structures, inlets, outlets and pumps.
2. Note: Other Obligations Secured. This Deed of Trust is given to secure to County:
2.1. the repayment of the purchase price evidenced by Central's Promissory
Note ("Note") of even date in the principal sum of Dollars (U.S. $3,210,514), with
payments due as set forth in the Payment Schedule attached to the Note; such
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payments to continue until the entire indebtedness evidenced by said Note is
fully paid; and Central has the right to prepay the principal amount outstanding
under said Note, in whole or in part, at any time without penalty;
2.2. the performance of the covenants and agreements of Central herein
contained.
3. Title. Central covenants that Central owns and has the right to grant and convey the
Property, and warrants title to the same against every person or persons claiming the
whole or any part thereof, by, through or under Central, subject to easements of record
or in existence, and recorded declarations, restrictions, reservations and covenants, if
any, as of this date.
4. Payment of Principal and Interest. Central shall promptly pay when due the
principal of and interest on the purchase price evidenced by the Note, and late charges
as provided in the Note and shall perform all of Central's other covenants contained in
the Note.
5. Application of Payments. All payments received by County under the terms hereof
shall be applied by County first in payment of the balance in accordance with the terms
and conditions of the Note.
6. Property Insurance. Central shall keep the improvements now existing or hereafter
erected on the Property insured against loss by fire or hazards included within the term
"extended coverage" in an amount at least equal to the lesser of (a) the insurable value
of the Property or (b) an amount sufficient to pay the sums secured by this Deed of
Trust as well as any prior encumbrances on the Property. All of the foregoing shall be
known as "Property Insurance." The insurance carrier providing the insurance shall be
qualified to write Property Insurance in Colorado. All insurance policies and renewals
thereof shall include County as an additional named insured, and shall provide that the
insurance carrier shall notify County at least ten (10) days before cancellation,
termination or any material change of coverage. Insurance policies shall be furnished to
County at or before closing. County shall have the right to hold the policies and
renewals thereof. In the event of loss, Central shall give prompt notice to the insurance
carrier and County. County may make proof of loss if not made promptly by Central.
Insurance proceeds shall be applied to restoration or repair of the Property damaged,
provided said restoration or repair is economically feasible and the security of this Deed
of Trust is not thereby impaired. If such restoration or repair is not economically feasible
or if the security of this Deed of Trust would be impaired, the insurance proceeds shall
be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to
Central. If the Property is abandoned by Central, or if Central fails to respond to County
within 30 days from the date notice is given in accordance with § 16 ("Notice") by
County to Central that the insurance carrier offers to settle a claim for insurance
benefits, County is authorized to collect and apply the insurance proceeds, at County's
option, either to restoration or repair of the Property or to the sums secured by this
Deed of Trust. Any such application of proceeds to principal shall not extend or
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postpone the due date of the installments referred to in § 4 or change the amount of
such installments. Notwithstanding anything herein to the contrary, if under § 18
(Foreclosure; Other Remedies) the Property is acquired by County, all right, title and
interest of Central in and to any insurance policies and in and to the proceeds thereof
resulting from damage to the Property prior to the sale or acquisition shall pass to
County to the extent of the sums secured by this Deed of Trust immediately prior to
such sale or acquisition.
7. Preservation and Maintenance of Property. Central shall keep the Property in
good repair and shall not commit waste or permit impairment or deterioration of the
Property.
8. Protection of County's Security. Except when Central has exercised Central's
rights under § 6 above, if Central fails to perform the covenants and agreements
contained in this Deed of Trust, or if a default occurs in a prior lien, or if any action or
proceeding is commenced which materially affects County's interest in the Property,
then County, at County's option, with notice to Central if required by law, may make
such appearances, disburse such sums and take such action as is necessary to protect
County's interest, including, but not limited to:
8.1. any ditch or water assessments levied or accruing against the Property;
8.2. the premiums on any insurance necessary to protect any improvements
comprising a part of the Property;
8.3. sums due on any prior lien or encumbrance on the Property;
8.4. the reasonable costs and expenses of defending, protecting, and
maintaining the Property and County's interest in the Property, including repair
and maintenance costs and expenses, costs and expenses of protecting and
securing the Property, receiver's fees and expenses, inspection fees, appraisal
fees, court costs, attorney fees and costs, and fees and costs of an attorney in
the employment of County or holder of the certificate of purchase;
8.5. all other costs and expenses allowable by the evidence of debt or this Deed
of Trust; and
8.6. such other costs and expenses which may be authorized by a court of
competent jurisdiction. Central hereby assigns to County any right Central may
have by reason of any prior encumbrance on the Property or by law or otherwise
to cure any default under said prior encumbrance.
9. Inspection. County may make or cause to be made reasonable entries upon and
inspection of the Property, provided that County shall give Central notice prior to any
such inspection specifying reasonable cause therefore related to County's interest in the
Property.
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10. Condemnation. The proceeds of any award or claim for damages, direct or
consequential, in connection with any condemnation or other taking of the Property, or
part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall
be paid to County as herein provided. In the event of a total taking of the Property, the
proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if
any, paid to Central. In the event of a partial taking of the Property, the proceeds shall
be divided between County and Central in the same ratio as the amount of the sums
secured by this Deed of Trust immediately prior to the date of taking bears to Central's
equity in the Property immediately prior to the date of taking. Central's equity in the
Property means the fair market value of the Property less the amount of sums secured
by this Deed of Trust at the value immediately prior to the date of taking. If the Property
is abandoned by Central or if, after notice by County to Central that the condemnor
offers to make an award or settle a claim for damages, Central fails to respond to
County within 30 days after the date such notice is given, County is authorized to collect
and apply the proceeds, at County's option, either to restoration or repair of the Property
or to the sums secured by this Deed of Trust. Any such application of proceeds to
principal shall not extend or postpone the due date of the installments referred to in §§ 4
(Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) nor
change the amount of such installments.
11. Central not Released. Extension of the time for payment or modification of
amortization of the sums secured by this Deed of Trust granted by County to any
successor in interest of Central shall not operate to release, in any manner, the liability
of the original Central, nor Central's successors in interest, from the original terms of
this Deed of Trust. County shall not be required to commence proceedings against such
successor or refuse to extend time for payment or otherwise modify amortization of the
sums secured by this Deed of Trust by reason of any demand made by the original
Central nor Central's successors in interest.
12. Forbearance by County Not a Waiver. Any forbearance by County in exercising
any right or remedy hereunder, or otherwise afforded by law, shall not be a waiver or
preclude the exercise of any such right or remedy.
13. Remedies Cumulative. Each remedy provided in the Note and this Deed of Trust is
distinct from and cumulative to all other rights or remedies under the Note and this Deed
of Trust or afforded by law or equity, and may be exercised concurrently, independently
or successively.
14. Successors and Assigns Bound; Joint and Several Liability; Captions. The
covenants and agreements herein contained shall bind, and the rights hereunder shall
inure to, the respective successors and assigns of County and Central. All covenants
and agreements of Central shall be joint and several. The captions and headings of the
sections in this Deed of Trust are for convenience only and are not to be used to
interpret or define the provisions hereof.
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15. Notice. Except for any notice required by law to be given in another manner, (a) any
notice to Central provided for in this Deed of Trust shall be in writing and shall be given
and be effective upon (1) delivery to Central or (2) mailing such notice by first class U.S.
mail, addressed to Central at Central's address stated herein or at such other address
as Central may designate by notice to County as provided herein, and (b) any notice to
County shall be in writing and shall be given and be effective upon (1) delivery to
County or (2) mailing such notice by first class U.S. mail, to County's address stated
herein or to such other address as County may designate by notice to Central as
provided herein. Any notice provided for in this Deed of Trust shall be deemed to have
been given to Central or County when given in any manner designated herein.
16. Governing Law; Severability. The Note and this Deed of Trust shall be governed
by the law of Colorado. In the event that any provision or clause of this Deed of Trust or
the Note conflicts with the law, such conflict shall not affect other provisions of this Deed
of Trust or the Note which can be given effect without the conflicting provision, and to
this end the provisions of the Deed of Trust and Note are declared to be severable.
17. Foreclosure; Other Remedies. Upon Central's breach of any covenant or
agreement of Central in this Deed of Trust, at County's option, all of the sums secured
by this Deed of Trust shall be immediately due and payable. To exercise this option,
County may invoke the power of sale and any other remedies permitted by law. County
shall be entitled to collect all reasonable costs and expenses incurred in pursuing the
remedies provided in this Deed of Trust, including, but not limited to, reasonable
attorney's fees. If County invokes the power of sale, County shall give written notice to
Trustee of such election. Trustee shall give such notice to Central of Central's rights as
is provided by law. Trustee shall record a copy of such notice and shall cause
publication of the legal notice as required by law in a legal newspaper of general
circulation in each county in which the Property is situated, and shall mail copies of such
notice of sale to Central and other persons as prescribed by law. After the lapse of such
time as may be required by law, Trustee, without demand on Central, shall sell the
Property at public auction to the highest bidder for cash at the time and place (which
may be on the Property or any part thereof as permitted by law) in one or more parcels
as Trustee may think best and in such order as Trustee may determine. County or
County's designee may purchase the Property at any sale. It shall not be obligatory
upon the purchaser at any such sale to see to the application of the purchase money.
Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable
costs and expenses of the sale, including, but not limited to, reasonable Trustee's and
attorney's fees and costs of title evidence; (b) to all sums secured by this Deed of Trust;
and (c) the excess, if any, to the person or persons legally entitled thereto.
18. Central's Right to Cure Default. Whenever foreclosure is commenced for
nonpayment of any sums due hereunder, the owners of the Property or parties liable
hereon shall be entitled to cure said defaults by paying all delinquent principal and
interest payments due as of the date of cure, costs, expenses, late charges, attorney's
fees and other fees all in the manner provided by law. Upon such payment, this Deed of
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Trust and the obligations secured hereby shall remain in full force and effect as though
no Acceleration had occurred, and the foreclosure proceedings shall be discontinued.
19. Release. Upon payment of all sums secured by this Deed of Trust, County shall
cause Trustee to release this Deed of Trust and shall produce for Trustee the Note.
Central shall pay all costs of recordation and shall pay the statutory Trustee's fees. If
County shall not produce the Note as aforesaid, then County, upon notice in
accordance with § 16 (Notice) from Central to County, shall obtain, at County's
expense, and file any lost instrument bond required by Trustee or pay the cost thereof
to affect the release of this Deed of Trust.
20. Waiver of Exemptions. Central hereby waives all right of homestead and any other
exemption in the Property under state or federal law presently existing or hereafter
enacted.
21. Central's Copy. Central acknowledges receipt of a copy of the Note and this Deed
of Trust.
GROUND WATER MANAGEMENT SUBDISTRICT
OF THE CENTRAL COLORADO WATER
CONSERVANCY DISTRICT BY AND THROUGH ITS
WATER ACTIVITY ENTERPRISE
By:
an all C. Knutson
President of the Board of Directors
STATE OF COLORADO )
) ss.
COUNTY OF WELD )
The foregoing instrument was acknowledged before me this lc( day of ,1,1110
2018, by Randall C. Knutson as President of the Board of Directors of the Ground
Water Management Subdistrict of the Central Colorado Water Conservancy District by
and through its Water Activity Enterprise.
Witness my hand and official seal.
Notary Public
My commission expires:
TAMMY 3 RUSCH
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20134030345
MY COMMISSION EXPIRES MAY 13, 2021
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EXHIBIT A
(1 of 1)
PROPERTY DESCRIPTION
A parcel of land, being part of the North Half (N1/2) of Section Two (2), Township Two North
(T.2N.), Range Sixty-eight West (R.68W.) of the Sixth Principal Meridian (6th P.M.) and part of
the Southwest Quarter (SW 1/4) of Section Thirty-five (35), Township Three North (T.3N.), Range
Sixty-eight West (R.68W.) of the Sixth Principal Meridian (6th P.M.), County of Weld, State of
Colorado, and being more particularly described as follows:
Lot B, Recorded Exemption No. 1313-02-2-RECX12-0023, recorded September 6, 2012 as
Reception No. 3871455 of the records of the Weld County Clerk and Recorder.
TOGETHER WITH:
That part of the West Half of the Northeast Quarter (W1/2 NE1/4) of said Section 2 lying Southerly
of the Northerly line of Lot A, Amended Subdivision Exemption No. AMSE-741, recorded April
12, 2005 as Reception No. 3276577of the records of the Weld County Clerk and Recorder.
Said described parcel of land contains 176.504 acres, more or less (±), and may be subject to any
rights -of -way or other easements of record or as now existing on said described parcel of land.
SURVEYOR'S STATEMENT
I, Michael Chad Dilka, a Colorado Licensed Professional Land Surveyor do hereby state that this
Property Description was prepared under my personal supervision and checking and that it is true
and correct to the best of my knowledge and belief.
Michael Chad Dilka - on behalf of King Surveyors
Colorado Licensed Professional Land Surveyor #38106
KING SURVEYORS
650 East Garden Drive
Windsor, Colorado 80550
(970) 686-5011
JN: 20170291
U:\20170291\property descriptions\HOKESTRA PIT LSP BOUNDARY.doc
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