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Exemption or other exemption, now or hereafter provided by law. The GRANTOR further <br />covenants that the collateral is free and clear of all liens and encumbrances whatever and that <br />the GRANTOR shall warrant and forever defend the COLLATERAL in the quiet and peaceable <br />possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or <br />persons lawfully claiming or to claim the whole or any part thereof. <br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and <br />assessments levied on the COLLATERAL; any and all amounts due on account of the principal <br />and interest or other sums on any senior encumbrances, if any; and will keep the COLLATERAL <br />insured in accordance with the requirements of the LOAN CONTRACT. In the event of the sale or <br />transfer of the COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of the <br />note immediately due and payable. <br />In case of default in any of said payments of the principal or interest, according to the <br />terms of said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or assigns, <br />then said principal sum hereby secured, and interest thereon, may at once, at the option of the <br />BENEFICIARY, become due and payable, and the said COLLATERAL be sold in the manner and <br />with the same effect as if said indebtedness had matured, and that if foreclosure be made by <br />the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of <br />said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of <br />foreclosure, and if foreclosure be made through the courts a reasonable attorney's fee shall be <br />taxed by the court as a part of the cost of such foreclosure proceedings. <br />It is further understood and agreed, that if a release or a partial release of this Deed of <br />Trust is required, the GRANTOR, its successors or assigns will pay the expense thereof; that all <br />the covenants and agreements contained herein and in the Promissory Note and LOAN <br />CONTRACT shall extend to and be binding upon the successors or assigns of the respective <br />parties hereto; and that the singular number shall include the plural, the plural the singular, and <br />the use of any gender shall be applicable to all genders. <br />Executed the day and date first written above. <br />(SEAL) <br />North Delta Irrigation Company, a Colorado <br />nonprofit corporation <br />Ken Nelson, President <br />ATTEST: <br />By <br />Carolyn K. awkins, Secretary/Treasurer DEBBIE d MC CARTY <br />aJ��,�Y ) Notary Public <br />County of <br />State of Colorado <br />SS <br />State of Colorado ) <br />The foregoing instrument was acknowledged before me this /! day of �-' 2012, by <br />Ken Nelson and Carolyn K. Hawkins, as President and Secretary/Treasurer, respectively, of <br />North Delta Irrigation Company. Witness my hared and official seal. <br />6<,27L Notary Public <br />Appendix 5 to Loan Contract C150331 <br />