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1. <br />including the time covered by foreclosure proceedings and the period of redemption, if any there be, and shall be <br />entitled thereto as a matter of right without regard to the solvency or insolvency of the GRANTOR or of the then <br />owner of said Property and without regard to the value thereof, and such Receiver may be appointed by any court of <br />competent jurisdiction upon ex parte application and without notice - notice being hereby expressly waived - and all <br />rents, issues and profits, income and revenue therefrom shall be applied by such Receiver to the payment of the <br />indebtedness hereby secured, according to the law and the orders and directions of the court. <br />And, that in ease of default in any of said payments of principal or interest, according to the tenor and effect <br />of said promissory note or any part thereof, or of a breach or violation of any of the covenants or agreements <br />contained herein and in the Contract, by the GRANTOR, its suers or assigns, then and in that case the whole of <br />said principal sum hereby secured, and the interest thereon to the time of the safe, may at once, at the option of the <br />legal holder thereof, become due and payable, and the said Property 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 PUBLIC TRUSTEE, an attorney's fee in a <br />reasonable amount for services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC <br />TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a reasonable attorney's <br />fee shall be 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 need of Trust is required, <br />the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants and agreements <br />contained herein and in the 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 the use of any gender <br />shall be applicable to all genders. <br />Executed the day and date first written above. <br />Ute Water Conservancy District <br />In <br />Robert L, Elsbeny, President <br />ATTt?'$ r - <br />t _ ord, ry <br />State of Colorado ) <br />County of Ir�rl� ) ss. <br />The foregoing instrument was acknowledged before me this /� ' day of le, 4C <br />by Robert L. Elsberry as President and Jacque Stafford as Sec Witness my hand amrofficial sue. <br />Notary Public <br />My commission expires 0 3_-- --) / - -7-000 <br />