C150172 Contract

• Contract/PO #: C150172
• Contractor Name: Union Ditch Company, The
• Contract Type: Loan
• Water District: 2
• County: Weld
• Loan Projects - Doc Type: Contract Documents

" 11111~ 111111111111111111111111111111111111111111111111

3382957 04/27/2006 03:38P Weld County, CO
2 of 2 R 11.00 D 0.00 Steve Moreno Clerk & Recorder

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, atthe 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
thesiQ9lIJgi.r"ol.,lr;nbershall include the plural, the plural the singular, and the use of any gender shall
be'::'.':" >~q~lIigenders.
\ "-':tt-teday and date first written above.
"\'. ~~~or~t7~~n Ditch Company, a Colorado nonprofit

By

/~~~I~ent

County of \.veld

SS

State of Colorado

The foregoing instrument was acknowledged before me this.lL day of February .2006, by Gary Alles and
Donna Coble, as President and Corporate Secretary, respectively, of The Union Ditch Company. Witness my
hand and official seal. ' . _/

Appendix 5 to Loan Contract C150171J.
Page 2 of 2