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<br /> <br />.'. <br /> <br />Sei817"ii721'/2003 10:"3~A8947 .P87:fo1' <br />2 0' 2 R 11.00 D 0.00 N 0.00 LOlan County CO <br /> <br /> <br />encumbrances whatever and that the GRANTOR shall warrant and forever defend the COLLATERAL in the <br />quiet and peaceable possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every <br />person or 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 assessments <br />levied on the COLLATERAL; any and all amounts due on account of the principal and interest or other sums <br />on any senior encumbrances, if any; and will keep the COLLATERAL insured in accordance with the <br />requirements of the LOAN CONTRACT. In the event of the sale or transfer of the COLLATERAL, the <br />BENEFICIARY, at its option, may declare the entire balance of the note immediately due and payable. <br /> <br />In case of default in any of said payments of the principal or interest, according to the terms of <br />said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then said principal <br />surn hereby secured, and interest thereon, may at once, at the optio!1 of the BENEFICIARY, become due <br />and payable, and the said COLLATERAL be sold in the manner and with the same effect as if said <br />indebtedness had matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney'sfee in a <br />reasonable amount for services in the supervision of said foreclosure proceedings shall be allowed by the <br />PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a <br />reasonable attorney's fee shall be taxed by the court as a part of the cost of such foreclosure <br />proceedings. <br /> <br />It is further understood and agreed, that if a release or a partial release of this Deed of Trust is <br />required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants and <br />~greements contained herein and in the' Promissory Note and LOAN CONTRACT shall extend to and be <br />"",<;;IJ'19 upon the successors or assigns of the respective parties hereto; and that the singular number <br />"'ltJc:fe the plural, the plural the singular, and the use of any gender shall be applicable to all <br />Y""".":".',.'.;~ . <br /> <br />.1' ...\ <br />~)fo'\. <br /> <br />:b'" <br /> <br />i~iA T E <br />n <br />.-,. <br /> <br />The Spring Dale Ditch Company, a Colorado <br />nonprofit corporation <br /> <br />/ <br /> <br />BY~~~ <br /> <br />Leon Fritzler, reSident <br /> <br />State of Colorado <br />County of L 66;tJ A,/ <br /> <br />) <br />) <br />) <br /> <br />SS <br /> <br /> <br />"--ftL <br />The foregoing instrument was acknowledged before me this ;5"'- day of August 2003, by Leon <br />Fritzler as President and Deb Baney as Secretary of The Spring Dale Ditch Company. Witness my hand <br />and official seal. <br /> <br />My commission expires: 9-;<'i-~cc '7 <br /> <br /> <br />Page 2 of 2 <br />