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and by virtue of any act of the United States Congress, now existing or which may hereafter be passed in relation thereto and
<br /> that the same is free and clear of all liens and encumbrances whatever, except for those items listed as exceptions in Exhibit
<br /> B, attached hereto and incorporated herein, and the above bal'gained Property in the quiet and peaceable possession of the
<br /> PUBLIC TRUSTEE,its successors and assigns,against all and every person or persons lawfully claiming or to claim the whole or
<br /> any part thereof,the GRANTOR shall and will Warrant and Forever Defend.
<br /> Until payment in full of the indebtedness,the GRANTOR shall timely pay all taxes and assessments lawfully levied on
<br /> the Property;any and all amounts due on account of principal and interest or other sums on any senior encumbrances, if any;
<br /> and will keep the Property insured in accordance with the requirements of the Contract. Should the GRANTOR fail to insure the
<br /> Property in accordance with the Contract or to pay such taxes or assessments as the same fall due, or to pay any amounts
<br /> payable upon senior encumbrances,if any,the beneficiary may make any such payments or procure any such insurance,and
<br /> all monies so paid with interest thereon at the rate of ten percent(10%)per annum shall be added to and become a part of the
<br /> indebtedness secured by this Deed of Trust and may be paid out of the proceeds of the sale of the Property if not paid by the
<br /> GRANTOR. In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust
<br /> to be in default for failure to procure insurance or make any further payments required by this paragraph.
<br /> And that in case of any default,whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE, the State
<br /> as holder of the note, or the holder of a certificate of purchase, shall at once become entitled to the possession, use and
<br /> enjoyment of the Property aforesaid,and to the rents,issues and profits thereof,from the accruing of such right and during the
<br /> pendency of foreclosure proceedings and the period of redemption, if any there be, and such possession shall at once be
<br /> delivered to the PUBLIC TRUSTEE,the State as holder of the note,or the holder of said certificate of purchase on request and on
<br /> refusal,the delivery of the Property may be enforced by the PUBLIC TRUSTEE, the State as holder of the note, or the holder of
<br /> said certificate of purchase by an appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or
<br /> certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits
<br /> thereof, after such default, including the time covered by foreclosure proceedings and the period of redemption, if any there
<br /> be,and shall be 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 rents,
<br /> issues and profits, income and revenue therefrom shall be applied by such Receiver to the payment of the indebtedness
<br /> hereby secured,according to the law and the orders and directions of the court.
<br /> And,that in case of default in any of said payments of principal or interest, according to the tenor and effect of said
<br /> promissory note or any part thereof, or of a breach or violation of any of the covenants or agreements contained herein and in
<br /> the Contract, by the GRANTOR, its successors or assigns, then and in that case the whole of said principal sum hereby
<br /> secured, and the interest thereon to the time of the sale, may at once, at the option of the legal holder thereof, become due
<br /> and payable,and the said Property be sold in the manner and with the same effect as if said indebtedness had matured,and
<br /> that if foreclosure be made by the PUBLIC TRUSTEE, an attomey'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 foreclosure,and if foreclosure be
<br /> made through the courts a reasonable attorney's fee shall be taxed by the court as a part of the cost of such foreclosure
<br /> proceedings.
<br /> It is further understood and agreed, that if a release or a partial release of this Deed of Trust is required, the
<br /> GRANTOR, its successors or assigns will pay the expense thereof;that all the covenants and agreements contained herein and
<br /> in the Contract shall extend to and be binding upon the heirs or assigns of the respective parties hereto; and that the singular
<br /> number shall include the plural,the plural the singular,and the use of any gender shall be applicable to all genders.
<br /> Executed the day and date first written above.
<br /> THE AGRICULTURAL DITCH AND RESERVOIR COMPANY,
<br /> a Colorado nonprofit corpora '
<br /> r 6G 4 •:t_- B MP, W
<br /> jdt------
<br /> -c. y
<br /> r r Walter S.Welton,President
<br /> ATTEST: ' ' `-
<br /> Ga D. eai ider,Asst.Secretary 187221 02/10/1998 11:02A 8580 P334 DT
<br /> 2 of 4 R 21.00 D 0.00 N 0.00 Clear Creek Cnty, CO
<br /> State of Colorado )
<br /> ,//� � SS
<br /> County of C7if'i�C"1'SG`i ,.,,.,. .:.,,,,
<br /> /7 day of , eee
<br /> " ' " k . c
<br /> 4" " ;''
<br /> � ' �
<br /> The foregoing instrument was acknowledged before me this -
<br /> 1997,
<br /> by Walter S. Welton as President of the Agricultural Ditch and Reservoir Company. Witness my hand old..„1 Al11407 t
<br /> official seal. i 'IP.," V % ;n b
<br /> a.
<br /> My commission expires J6s ' / / s7,7 Notary Public ;4.
<br /> V
<br /> John F.Meurer,Notary Public .._.,.';`:c.,C
<br /> 12700 W.27th Ave. J ,R .
<br /> Lakewood,Colorado 80215
<br /> My Commission E4pires Aug.5,1990
<br />
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