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Book: 2991 e:Pa
<br /> • Page: 2 of 9 66 Chris C. Munoz
<br /> o2 Pueblo CO.Clk.&Rec.
<br /> Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments levied on the rropelLy,
<br /> any and all amounts due on account of principal and interest or other sums on any senior encumbrances, if any;and will keep the
<br /> Property insured in accordance with the requirements of the Contract. Should the GRANTOR fail to insure the Property in
<br /> accordance with the Contract or to pay taxes or assessments as the same fall due,or to pay any amounts payable upon senior
<br /> encumbrances, if any,the beneficiary may make any such payments or procure any such insurance, and all monies so paid with
<br /> interest thereon at the rate of ten percent(10%)per annum shall be added to and become a part of the indebtedness secured by
<br /> this Deed of Trust and may be paid out of the proceeds of the sale of the Property if not paid by the GRANTOR. In addition,and at
<br /> its option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust to be in default for failure to
<br /> procure insurance or make any further payments required by this paragraph. In the event of the sale or transfer of the Property,
<br /> the beneficiary,at its option,may declare the entire balance of the note immediately due and payable.
<br /> And that in case of any default, whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE, the State as
<br /> ' holder of the note,or the holder of a certificate of purchase, shall at once become entitled to the possession, use and enjoyment
<br /> of the Property aforesaid,and to the rents, issues and profits thereof,from the accruing of such right and during the pendency of
<br /> foreclosure proceedings and the period of redemption, if any there be, and such possession shall at once be delivered to the
<br /> PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase on request, and on refusal, the
<br /> delivery of the Property may be enforced by the PUBuc TRUSTEE,the State as holder of the note,or the holder of said certificate of
<br /> purchase by an appropriate civil suit or proceeding, and the PUBLIc TRUSTEE,or the holder of said note or certificate of purchase,
<br /> or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits thereof, after such default,
<br /> including the time covered by foreclosure proceedings and the period of redemption,if any there be, and shall be entitled thereto
<br /> as a matter of right without regard to the solvency or insolvency of the GRANTOR or of the then owner of said Property and without
<br /> regard t0 tl is Va!,.,,ther of and ct„ch Receiver m2v he?ppointed by,nv court of competent jurisdiction upon ex parte application
<br /> and without notice-notice being hereby expressly waived-and all rents, issues and profits, income and revenue therefrom shall
<br /> be applied by such Receiver to the payment of the indebtedness hereby secured, according to the law and the orders and
<br /> 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 the
<br /> Contract, by the GRANTOR, its successors or assigns,then and in that case the whole of said principal sum hereby secured, and
<br /> the interest thereon to the time of the sale, may at once, at the option of the legal holder thereof, become due and payable, and
<br /> the said Property be sold in the manner and with the same effect as if said indebtedness had matured, and that if foreclosure be
<br /> made by the PUBuc TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of said foreclosure
<br /> proceedings shall be allowed by the PUBuc TRUSTEE as a part of the cost of foreclosure,and if foreclosure be made through the
<br /> courts a reasonable attorney's 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 Deed of Trust is required,the GRANTOR, its
<br /> successors or assigns will pay the expense thereof;that all the covenants and agreements contained herein and in the Contract
<br /> shall extend to and be binding upon the successors or assigns of the respective parties hereto;and that the singular number shall
<br /> include the plural,the plural the singular,and the use of any gender shall be applicable to all genders.
<br /> E)96'6ibd,the day and date first written above.
<br /> ^,? �.'•��,. The Excelsior Irrigating Company
<br /> rT ; By
<br /> C.R. Evans, President
<br /> (SEAL)
<br /> ATTEST:
<br /> Erin Evans, Secretary
<br /> State of Colorado
<br /> County of V"/)fie SS.
<br /> The foregoing instrument was acknowledged before me this �)s`4day of 1997,
<br /> by C.R. Evans, President. Witness my hand and official seal. �i
<br /> Notary Public
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