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<br />812050 09/29/2003 10:38A B1158 P413 F. JOHNSON <br />2 of 2 R 11.00 D 0.00 Morgan Counly, CO <br /> <br />it may have in or to said COLLATERAL as a Homestead Exemption or other exemption, now or hereafter <br />provided by law. The GRANTOR further covenants that the collateral is free and clear of all liens and <br />encumbrances whatever and that the GRANTOR shall warrant and forever defend the COLLATERAL in the <br />quiet and peaceable possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every <br />. person or persons lawfully claiming or to claim the whole or any part thereof. <br /> <br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments <br />levied on the COLLATERAL; any and all amounts due on account of the principal and interest or other sums <br />on any senior encumbrances, if any; and will keep the COLLATERAL insured in accordance with the <br />requirements of the LOAN CONTRACT. In the event of the sale or transfer of the COLLATERAL, the <br />BENEFICIARY, at its option, may declare the entire balance of the note immediately due and payable. <br /> <br />In case of default in any of said payments of the principal or interest, according to the terms of <br />said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then said principal <br />sum hereby secured, and interest thereon, may at once, at the option of the BENEFICIARY, become due <br />and payable, and the said COLLATERAL be sold in the manner and- with the same effect as if said <br />indebtedness had matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a <br />reasonable amount for services in the supervision of said foreclosure proceedings shall be allowed by the <br />PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a <br />reasonable attorney's fee shall be taxed by. the court as a part of the cost of such foreclosure <br />proceedings. <br /> <br />It is further understood and agreed, that if a release or a partial release of this Deed of Trust is <br />required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants and <br />agreements contained herein and in the Promissory Note and LOAN CONTRACT shall extend to and be <br />binding upon the successors or assigns of the respective parties hereto; and that the singular number <br />shall include the plural, the plural the singular, and the use of any gender shall be applicable to all <br />genders. <br /> <br />"\ \ E ::- <br /><{ '::~..".".....- . <br />I~C/6'~A TE <br />,;". 8: ~--;A. L :" <br />:.:. /.:':.:~j. L~'" :.-' , ~-~ <br /> <br />'. ,f(' I' ;- <br /> <br />Upper Platte and Beaver Canal Company, a <br />Colorado nonprofit corporation <br /> <br />ATTEst.,,~ '~'>J " <br />J I 0 l~:' -'1f\ \ 'i .J, <br /> <br /> <br />, ,; r-..... <br /> <br /> <br />By <br /> <br />By <br /> <br /> <br />c..--- <br />rporate Secretary <br /> <br />L <br /> <br />State of Colorado <br /> <br />) <br />) <br />County of ~r-()CV) ) <br /> <br />The foregoing instrumentwas acknowledged before me this l1:ih day of Jl.A.,l~ . 2003, <br />by Philip Mortensen as President and Larry Johnson as Secretary of the Upper Platte a d Beavel"'C8f.lal <br />Company. Witness my hand and official seal.;'\" ...:.H'/,>.. <br />~~:'!>'i~:~>~~ . ..~::'> -. "'. <br />..'{._-,~./,_:.~~) -r J, /'7 r..~ <br /> <br />SS <br /> <br />Page 2 of 2 <br /> <br /> <br />My commission expires: Q/:l'-{ Jdrr:::/S <br />. <br />