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<br /> 812050 09/29/2003 10:38A B1158 P413 F. JOHNSON ;,, ...
<br /> 2 of 2 R 11.00 D 0.00 Morgan County, CO , L 4:... ti s
<br /> it may have in or to said COLLATERAL as a Homestead Exemptior jr.3:th?r e cemption, now or hereafter
<br /> provided by law. The GRANTOR further covenants that the colla4ar l /freeEV1r4 all liens and
<br /> encumbrances whatever and that the GRANTOR shall warrant and o1Piver de, rt �',s,e c LAt -'L in the
<br /> quiet and peaceable possession of the PUBLIC TRUSTEE, its successors and assign • i a►. every
<br /> person or 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 assessments
<br /> levied on the COLLATERAL; any and all amounts due on account of the principal and interest or other sums
<br /> on any senior encumbrances, if any; and will keep the COLLATERAL insured in accordance with the
<br /> requirements of the LOAN CONTRACT. In the event of the sale or transfer of the COLLATERAL, the
<br /> BENEFICIARY, at its option, may declare the entire balance of the note immediately due and payable.
<br /> In case of default in any of said payments of the principal or interest, according to the terms of
<br /> said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then said principal
<br /> sum hereby secured, and interest thereon, may at once, at the option of the BENEFICIARY, become due
<br /> and payable, and the said COLLATERAL be sold in the manner and with the same effect as if said
<br /> 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
<br /> PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a
<br /> 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
<br /> required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants and
<br /> agreements contained herein and in the Promissory Note and LOAN CONTRACT shall extend to and be
<br /> binding upon the successors or assigns of the respective parties hereto; and that the singular number
<br /> shall include the plural, the plural the singular, and the use of any gender shall be applicable to all
<br /> genders.
<br /> Upper Platte and Beaver Canal Company, a
<br /> Colorado nonprofit corporation
<br /> 'C O RR_Q.R ATE
<br /> SEAL
<br /> Byla, 2 ,,..
<br /> Philip Mortensen, President
<br /> ATTEST,-,1,-.
<br /> By r /z, -Kz��ldtt
<br /> Larry Johns.n, Corporate Secretary
<br /> State of Colorado )
<br /> ) SS
<br /> County of (Y)'Jrcc,,(Th )
<br /> The foregoing instrument was acknowledged before me this day of JLA_ly 2003,
<br /> by Philip Mortensen as President and Larry Johnson as Secretary of the Upper Platte and BeaverCanal
<br /> Company. Witness my hand and official seal.
<br /> My commission expires: ,,f_YI is J'n Caw, J . L r,.
<br /> Notay Pplic
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