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<br />and (2) the Vouga Reservoir storage rights consisting of 920 acre-feet described as follows: 510 acre-feet: Priority No. 370
<br />in Gunnison County District Court Civil Action No. 5266 provides 510 acre-feet, and 410 acre-feet: Case No. W-3576, Water
<br />Division No.4, 410 acre-feet of additional storage. (collectively or hereinafter referred to as the "Property").
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<br />Amended to correct the legal description in the Deed of Trust dated September 17, 1996, and recorded September
<br />19,1996,02:52 PM, Reception Number 316867, Marlene L. Pruitt, Saguache County Clerk and Recorder.
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<br />To have and to hold the same, together with all and singular the privileges and appurtenances thereunto belonging: In
<br />Trust nevertheless, that in case of default in the payment of said note, or any part thereof, or in the payment of the interest
<br />thereon, according to the tenor and effect of said note or in the payment of any prior encumbrances, principal or interest, if
<br />any, or in case default shall be made in or in case of violation or breach of any of the terms, conditions, covenants or
<br />agreements contained 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 such election and
<br />demand for sale with the PUBLIC TRUSTEE. Upon receipt of such notice of election and demand for sale, the PUBLIC TRUSTEE
<br />shall cause a copy of the same to be recorded in the recorder's office of the county in which said Property is situated, it shall
<br />and may be lawful for the PUBLIC TRUSTEE to sell and dispose of the same (en masse or in separate parcels, as the said
<br />PUBLIC TRUSTEE may think best), and all the right, title and interest of the GRANTOR, its successors or assigns therein, at public
<br />auction at such time and at such location as shall be designated in the PUBLIC TRUSTEE'S Notice of Sale, for the highest and
<br />best price the same will bring in cash, four weeks public notice having been previously given of the time and place of such
<br />sale, advertisement once each week for five consecutive weeks, in some newspaper of general circulation at that time
<br />published in said County of Saguache, a copy of which notice shall be mailed within ten days from the date of the first
<br />publication thereof to the GRANTOR at the address herein given and to such person or persons appearing to have acquired a
<br />subsequent record interest in said Property at the address given in the recorded instrument; where only the county and state
<br />is given as the address then such notice shall be mailed to the county seat, and to make and give to the purchaser of the
<br />Property at such sale, a certificate in writing describing the Property purchased, and the sum paid therefor, and the time when
<br />the purchaser (or other person entitled thereto) shall be entitled to the deed therefor, unless the same shall be redeemed as is
<br />provided by law; and said PUBLIC TRUSTEE shall, upon demand by the person holding the said certificate of purchase, when
<br />said demand is made, or upon demand by the person entitled to a deed to and for the Property purchased, at the time such
<br />demand is made, the time for redemption having expired, make and execute to such person a deed to the Property
<br />purchased,which said deed shall be in the ordinary form of a conveyance, and shall be signed, acknowledged and delivered
<br />by the said PUBLIC TRUSTEE and shall convey and quitclaim to such person entitled to such deed, the Property purchased as
<br />aforesaid and all the right, title, interest, benefit and equity of redemption of the GRANTOR, its successors and assigns made
<br />therein, and shall recite the sum for which the said Property was sold and shall refer to the power of sale therein contained,
<br />and to the sale made by virtue thereof; and in case of an.. assignment of such certificate of pl,lrchase, or in case of the
<br />redemption of the Property, by a subsequent encumbrancer, such assignment. or redemption shall also be referred to in such
<br />deed; but the notice of sale need not be set out in such deed and the PUBLIC TRUSTEE shall, out ofthe proceeds or avails of
<br />such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary hereund~rthe
<br />principal and interest due on said note according to the tenor and effect thereof, and all moneys advanced by such beneficiary
<br />or legal holder of said note for insurance, taxes and assessments, with interest thereon at ten per cent per annum, rendering
<br />the surplus, if any, unto the GRANTOR, its legal representatives or assigns; which sale and said deed so made shall be a
<br />perpetual bar, both in law and equity, against the GRANTOR, its successors and assigns, and all other persons claiming the
<br />Property, or any part thereof, by, from, through or under the GRANTOR, or any of them. The holder of said note may purchase
<br />Property or any part thereof; and it shall not be obligatory upon the purchaser at any such sale to see to the application of the .
<br />purchase money.
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<br />And the GRANTOR, for itself and its successors or assigns covenants and agrees to and with the PUBLIC TRUSTEE, that at
<br />the time of the unsealing of and delivery of these presents, it is well seized of the Property in fee simpl~, and has good right,.
<br />full power and lawful authority to grant, bargain, sell and convey the same in the manner and form as aforesaid; hereby fully
<br />and absolutely waiving and releasing all rights and claims it may have in or to said Property as a Homestead Exemption, or
<br />other exemption, under and by virtue of any act of the General Assembly of the State of Colorado, or as any exemption under
<br />and by virtue of any act of the United States Congress, now existing or which may hereafter be passed in relation thereto and
<br />that the same is free and clear of all liens and encumbrances whatever, and the above bargained Property in the quiet and
<br />peaceable possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons lawfully
<br />claiming or to claim the whole or any part thereof, the GRANTOR shall and will Warrant and Forever Defend.
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<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments levied on the Property;
<br />any and all amounts due on account of principal and interest or other sums on any senior encumbrances, if any; and will keep
<br />the Property insured in accordance with the requirements of the Contract. Should the GRANTOR fail to insure the Property in
<br />accordance with the Contract or to pay taxes or assessments as the same fall due, or to pay any amounts payable upon
<br />senior encumbrances, if any, the beneficiary may make any such payments or procure any such insurance, and all monies so
<br />paid with interest thereon at the rate of ten percent (10%) per annum shall be added to and become a part of the
<br />indebtedness secured by this Deed of Trust and may be paid out of the proceeds of the sale of the Property if not paid by the
<br />GRANTOR. In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust
<br />to be in default for failure to procure insurance or make any further payments required by this paragraph. In the event of the
<br />sale or transfer of the Property, the beneficiary, at its option, may declare the entire balance of the note immediately due and
<br />payable.
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