C150157 contract docs (2) - Laserfiche WebLink

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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 Gw4NTOR fully waives and releases all rights and claims it may have in or to said Co��aTERa� 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 Gw4NTOR shall warrant and forever defend the Co��TEw�� in the quiet and peaceable possession of the PuB�ic 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 Gw4NTOR shall timely pay all taxes and assessments levied on the Co��aTERa�; 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 Co��TERa� insured �n accordance with the requirements of the LoaN CoNrRacT. 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 GwaNTOR, its successors or assigns, then said principal sum hereby secured, and interest thereon, may at once, at th2 OptlOtl Of th2 BENEFICIARY, become due and payable, and the said Co��arEr�a� be sold in the manner and with the same effect as if said indebtedness had matured, and that if foreclosure be made by the PuB�ic TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of said foreclosure proceedings shall be allowed by the Pusuc TRUSrEE 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 require�,,,:the G�NTOR, its successors or assigns will pay the expense thereof; that all the coven�r�t�s�r�i �,greements contained herein and in the Promissory Note and LoaN CoNTFtacT shall exten��o��nd be f�nding upon the successors or assigns of the respective parties hereto; and that ths �'i�ngular,#yumber shall include the plural, the plural the singular, and the use of any gender shall be; �p�l��{e Ko��fl gen�ers. �' u d�' and date first written above. •� �� The Grand Mesa Reservoir Company, a Colorado � � ` `" ��`1� '� ,;�� .r nonprofit corporation (��a-. � � . C� �"�� `��'g''""`� ��"`� � By ohn ing, r ident ATTEST: By .`1- Ro nnell, Secretar �urer County of �%�'YLC�o �t-- j SS State of Colorado ) The foregoing instrument was acknowledged before me this � day of January 2004, by John Whiting and Rod J. Bonnell, as President and Secretary/Treasurer, respectively, of the Grand Mesa Reservoir Co,��pl�h�ss my hand and official seal. � „, BARBARA A = �, � � cc��@n 2�C res — �� My Commission E��,z,;�; �'' � Page 2 of 2 Public