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the COLLATERAL in fee simple, and has fuli power and lawful authority to grant, bargain, sell and <br />convey the same in the manner and form as aforesaid. The GRatvTOR fully waives and releases all <br />rights and claims it may have in or to said Co��aTER,4� as a Homestead Exemption or other <br />exemption, now or hereafter provided by law. The Gw4NTOR further covenants that the collateral is <br />free and clear of all liens and encumbrances whatever and that the GRANTOR shall warrant and <br />forever defend the Co�u�TEw4� in the quiet and peaceable possession of the Pua�ic TRUSTEE, its <br />successors and assigns, against all and every person or persons lawfully claiming or to claim the <br />whole or any part thereof. <br />Until payment in full of the indebtedness, the GRaNroR shall timely pay all taxes and <br />assessments levied on the Co��,aTEw��; any and all amounts due on account of the principal and <br />interest or other sums on any senior encumbrances, if any; and will keep the Co��TERn� insured in <br />accordance with the requirements of the LoAN Co►vTw4CT. In the event of the sale or transfer of the <br />COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of the note immediately <br />due and payable. <br />In case of default in any of said payments of the principal or interest, according to the terms <br />of said Promissory Note or LoaN CoNTw4CT, by the GRaNroR, its successors or assigns, then said <br />principal sum hereby secured, and interest thereon, may at once, at the option of the BENEFICIARY, <br />become due and payable, and the said Co�v�TEr�ta� be sold in the manner and with the same effect <br />as if said indebtedness had matured, and that if foreclosure be made by the PuB��C TRUSTEE, an <br />attorney's fee in a reasonable amount for services in the supervision of said foreclosure <br />proceedings shall be allowed by the PuBUC TRUSTEE as a part of the cost of foreclosure, and if <br />foreclosure be made through the courts a reasonable attorney's fee shall be taxed by the court as a <br />part of the cost of such forec�osure proceedings. <br />It is further understood and agreed, that if a release or a partial release of this Deed of Trust <br />is requiredT the GRANTOR, its successors or assigns will pay the expense thereof; that all the <br />coven�r��s(�r�1 �reements contained herein and in the Promissory Note and LoaN CoNTRaCT shall <br />exten�io-aild be dhnding wpon the successors or assigns of the respective parties hereto; and that <br />th.�.�i�igular��umber shall include the plural, the plural the singular, and the use of any gender shall <br />ber ap�fi�le c�''�i►all gen�ers. <br />*' ��u� �a� d�y�and date first written above. <br />r•., .� r�, ��� ».�:� The Grand Mesa Reservoir Company, a Colorado <br />'� '` j r y ::�� 1 nonprofit corporation <br />(��i?►�). � . G �,. <br />S�•R • ..���'�' ' � B <br />Y , _._ y <br />ATTEST: <br />ohn ing, r ident <br />By _, _ <br />Ro nnell, Secreta urer <br />County of ��o a,.., � <br />State of Colorado j SS <br />The foregoing instrument was acknowledged before me this � day of January 2004, by John Whiting <br />and Rod J. Bonnell, as President and Secretary/Treasurer, respectively, of the Grand Mesa Reservoir <br />Co��ss my hand and o�cial seal. � <br />8�1RBJIRA A <br />c�y��n <br />��F'� o�-°� <br />My Commiss�n E_�� r�� � � <br />�—�lo — <br />Page 2 of 2 <br />Public <br />