C150154 Contract

• Contract/PO #: C150154
• Contractor Name: Pine River - Bayfield Ditch Company
• Contract Type: Loan
• Water District: 31
• County: La Plata
• Loan Projects - Doc Type: Contract Documents

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 defau It 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 maimer 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
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a.'!:gen~s.?/ . .
_ '..... . ' "'" /(1 The Pine River-Bayfield Ditch Company, a Colorado
. ". ~ nonprofit corporation
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By

ATTEf2I.' . 7 of). ~
By .-ZJ,~
. . ~ n" - Corporate Secretary

County of J 0. 11 a.~

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) SS
State of Colorado ) ~
The foregoing instrument was acknowledged before me this:i.- day of Q:to~ 2003, by Ken
Beck and f()i).\ t-\tift'\$"i'\ as President and Corporate Secretary, respectively, of The Pine River-Bayfield
Ditch Company. Witness my hand and offlciar-seal.:

, ~'. "; -. . ,.

~

Notary Public

My commission exPiresl2l1 Lo I Dlr?

Page 2 of 2

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~ NOTARY ~ Nancy Agro
~ PUBlIC: Notary Public
~ ~ State of Colorado
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. ~JJI"III\1"\\\~ My Commission Expires May 16. 2006