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LPPD000293
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Entry Properties
Last modified
3/12/2013 12:30:03 PM
Creation date
3/26/2007 10:23:06 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150211
Contractor Name
Highland Ditch Company
Contract Type
Loan
Water District
5
County
Boulder
Weld
Loan Projects - Doc Type
Contract Documents
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<br /> <br />... .'" ~ <br /> <br />Boulder County Clerk, CO OT <br /> <br />Page: 2 of 3 <br />04/28/2006 03:56P <br />R 16.00 0 0.00 <br /> <br />BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale. <br /> <br />The GRANTOR covenants that at the time of the delivery of these presents, it is well <br />seized of the COLLATERAL in fee simple, and has full power and lawful authority to grant, <br />bargain, sell and convey the same in the manner and form as aforesaid. The GRANTOR fully <br />waives and releases all rights and claims it may have in or to said COLLATERAL as a Homestead <br />Exemption or other exemption, now or hereafter provided by law. The GRANTOR further <br />covenants that the collateral is free and clear of all liens and encumbrances whatever and that <br />the GRANTOR shall warrant and forever defend the COLLATERAL in the quiet and peaceable <br />possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or <br />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 <br />assessments levied on the COLLATERAL; any and all amounts due on account of the principal <br />and interest or 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 or <br />transfer of the COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of the <br />note immediately due and payable. <br /> <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 assigns, <br />then said principal sum hereby secured, and interest thereon; may at once, at the option of the <br />BENEFICIARY, become due and payable, and the said COLLATERAL be sold in the manner and <br />with the same effect as if said indebtedness had matured, and that if foreclosure be made by <br />the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of <br />said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of <br />foreclosure, and if foreclosure be made through the courts a reasonable attorney's fee shall be <br />taxed by the court as a part of the cost of such foreclosure proceedings. <br /> <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 all <br />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 />parties hereto; and that the singular number shall include the plural, the plural the singular, and <br />the use of any gender shall be applicable to all genders. <br /> <br />Executed the day and date first written above. <br /> <br />Highland Ditch Company, a Colorado nonprofit <br />corporation <br /> <br />(SEAL) <br /> <br />By P~.A~ <br /> <br />Robert Schlagel, President <br /> <br />Appendix 5 to Loan Contract C150211 <br />Page 2 of 3 <br />
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