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� � The �RaNroR covenants that at the time of the delivery of these presents, it is well seized of the co��TERa� in fee simple, and has full power and lawful authority to grant, 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 co�t.ATEw4� 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 co��arEt�n� in the quiet and peaceable possession of the PuB�ic rRUSTEE, 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 �RaNTOR shall timely pay all taxes and assessments levied on the co��arEr�,�; 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 �oaN coNTRacT. In the event of the sale or transfer of the co��aTERa� th2 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, 8t the Opti011 Of th2 BENEFICIARY become due and payable, and the said co�u�TEw�� 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 PUBI.IC TRUSTEE d5 8 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 �oaN coNTw4cT shall extend to and be binding upon the successors or �ssigns 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. Kern Reservoir and Ditch Company, JUDY MORRIS a Colorado nonproflt corporation NOTARY PUBLIC ( L) STATE OF COLORADO �� My Commission Expires 12/i/2005 B y' �� - W. W yne Miller, President A � B '� �.- ulie Ch ter, Cor rate Secretary County of ) ) ss State of Colorado ) � The foregoing instrument was acknowledged before me this � day of 2003, by Philip Saletta and Julie Chester, as President and Corporate Secretary, respectively, of the rn eservoir and Ditch Company. � Witness my hand and o�cial seal. �� , ,n n My commission expires: � � t rayc c ui c II' III'I"III'I"I III "II' II'I I"I I I "II II'I I' , Weld County, CO 3075220 06/20/2003 02.42P 2 of 8 R 41.00 D 0.00 Steve Moreno Clerk & Recorder