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<br />1111111111111111I111111111111111111111111I1111111111111
<br />... ~1:'2:: RO%~~20~4 o.:~:2:teveW:~~~~ug~rkC: Recorder
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<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.
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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 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. .
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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 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 sarne 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.
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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 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. .
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<br />,//:;B'~'l~!ed the day and date first written above.
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<br />,i'':",.~=~:~(. >\~, Lake Arrowhead .Water Association, a Colorado
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<br />t .~~.....,:.~! :L....<c; '~.\.. nonp3U~ d
<br />- ,.,,' 'E'A"ll ~\ ~
<br />1 {& \\',0 N "j tj f By. ; ~
<br />'.\ ~ l',,:,<; lJ 8 \. \ ~,~o....;'{ Leslie L. Lieser, President
<br />. ... _"it~
<br />v...~/,-
<br />
<br />
<br />By
<br />Richard D. Haines, Corporate Secre ry
<br />
<br />County of tv~. t- 0
<br />
<br />)
<br />) 55
<br />)
<br />
<br />State of Colorado
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<br />The foregoing instrument was acknowledged before me this -LL day of..//77~ 2004, by
<br />Leslie L. Leiser and Richard D. Haines, as President and Secretary, respectively, of Lake
<br />Arrowhead Water Association. Witnessm~~~ ff 4
<br />- r ' ~L Notary Public
<br />
<br />My commission expires f-' 7,. ~ 0 Cl b
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