C150168 Contract

• Contract/PO #: C150168
• Contractor Name: Fulton Irrigation Ditch Company
• Contract Type: Loan
• Water District: 1
• County: Adams
• Bill Number: SPL
• Loan Projects - Doc Type: Contract Documents

bargain, sell and convey the same in the manner and form as aforesaid. The GRANTOR
fully waives and releases all rights and claims it may have in or to said COLLATERAL as a
Homestead Exemption or other exemption, now or hereafter provided by law. The
GRANTOR further covenants that the collateral is free and clear of all liens and
encumbrances whatever and that the GRANTOR shall warrant and forever defend the
COLLATERAL in the quiet and peaceable possession of the PUBLIC TRUSTEE, its successors
and assigns, against all and every person or persons lawfully claiming or to claim the whole
or any part thereof.
Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and
assessments levied on the COLLATERAL; any and all amounts due on account of the
principal and interest or other sums on any senior encumbrances, if any; and will keep the
COLLATERAL insured in accordance with the requirements of the LOAN CONTRACT. In the
event of the sale or transfer of the COLLATERAL, the BENEFICIARY, at its option, may declare
the entire balance of the note immediately due and payable.
In case of default in any of said payments of the principal or interest, according to
the terms of said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or
assigns, then said principal sum hereby secured, and interest thereon, may at once, at the
option of the BENEFICIARY, become due and payable, and the said COLLATERAL be sold in
the manner and with the same effect as if said indebtedness had matured, and that if
foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for
services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC
TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts
a reasonable attorney's fee shall be taxed by the court as a part of the cost of such
foreclosure proceedings.
It is further understood and agreed, that if a release or a partial release of this Deed
of Trust is required, the GRANTOR, its successors or assigns will pay the expense thereof;
that all the covenants and agreements contained herein and in the Promissory Note and
LOAN CONTRACT shall extend to and be binding upon the successors or assigns of the
respective parties hereto; and that the singular number shall include the plural, the plural
the singular, and the use of any gender shall be applicable to all genders.
Executed the day and date first written above.

The Fulton Irrigating Ditch Company, a
Colorado mutual ditch company nonprofit
corpo~ion _ () ~
By cZ2 -e < < _' ---fA )
Cecil W. King, Presiden(

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Attest " j'" ,~:.,
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Brice'Steele, Corporate Secretary

County of Adams

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Mv Commission Expires Feb. 5, 2005