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<br />20040543 4/30/20048:30:00 AM PATTI NICKELL
<br />20f3 DT R $16.00 D $0.00 Bent C01.Ultv. co
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<br />peaceable possession of the PUBLIC TRUSTEE, its successors and assigns, against all and
<br />every person or persons lawfully claiming or to claim the whole or any part thereof by through
<br />or under GRANTOR.
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<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and
<br />assessments levied on the COLLATERAL; any and all amounts due on account of the principal
<br />and interest ot other sums on any senior encumbrances, if any; and will keep the COLLATERAL
<br />insured in accordance with the requirements of the LOAN CONTRACT. In the event of the sale
<br />or transfer of the COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance
<br />of the note immediately due and payable.
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<br />In case of default in any of said payments of the principal or interest, according to the
<br />terms of said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or
<br />assigns, then said principal sum hereby secured, and interest thereon, may at once, at the
<br />option of the BENEFICIARY, become due and payable, and the said COLLATERAL be sold in the
<br />manner and with the same effect as if said indebtedness had matured, and that if foreclosure
<br />be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the
<br />supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part
<br />of the cost of foreclosure, and if foreclosure be made through the courts a reasonable
<br />attorney's fee shall be taxed by the court asa part of the cost of such foreclosure
<br />proceedings.
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<br />It is further understood and agreed, that if a release or a partial release of this Deed of
<br />Trust is required, the GRANTOR, its successors or assigns will pay the expense thereof; that
<br />all the covenants and agreements contained herein and in the Promissory Note and LOAN
<br />CONTRACT shall extend to and be binding upon the successors or assigns of the respective
<br />PCirties:he[eto; and that the singular number shall include the plural, the plural the singular,
<br />~\'ld.,~~~ u~,e of any gender shall be applicable to all genders.
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<br />.,.<c~(,,~),~,~';t~.:;~, The Lower Arkansas Water Management
<br />::<~,}~';'::'~""'I':';r..:#;,\';;"" Association a Color 0 nprofit co oration
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<br />1it~~1"'\iS,.~~r'. By
<br />{'~ill;} , .~ :c
<br />Donald F. Higbee, Corpor
<br />Countyof'7~
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<br />State of .colota'do
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<br />Th~,~~t~~?m~:~~t~:~~p~was acknowledge~ before me thiS.~ day of ~ k 2004,
<br />b~{~~t~i~\~~\I~r13"Sml~Wand Donald F. Higbee, as PresIdent and Corporate Secretary,
<br />~~~1a.,6'\. ~;l~~ftf?\Ner Arkansas Water Management Association. Witness my hand and
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<br />~"';~{~i',. ~lS~iI~~~tj~', .
<br />~:i;,.'., l1'il\;.,\(j,:(O'~:
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<br />M5t,~h!:i~~r~~~ires3.1 L\ \ 7l'n,
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<br />Notary Publicf\crtl\\.',~ ~C.L.l"'r _
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<br />Return recorded deed of trust to: CWCB Finance Section, Attn: Jan lilian, 1580
<br />Logan Street, Suite 750, Denver CO 80203 (Phone Number 303-866-3462)
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