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under and by virtue of any act of the United States Congress, now existing or which may hereafter be passed in relation
<br /> thereto and that the same is free and clear of all liens and encumbrances whatever, and the above bargained Property in the
<br /> quiet and peaceable possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons
<br /> lawfully claiming or to claim the whole or 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 levied on the
<br /> 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 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,
<br /> and all monies so paid with interest thereon at the rate of ten percent(10%) per annum shall be added to and become a part
<br /> of the indebtedness secured by this deed of trust and may be paid out of the proceeds of the sale of the Property if not paid -' `m
<br /> by the GRANTOR. In addition and at its option, the beneficiary may declare the indebtedness secured hereby and this deed of -` ;','
<br /> cv trust to be in default for failure to procure insurance or make any further payments required by this paragraph. ,
<br /> r.1 And that in case of any default,whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE, the State '*7`
<br /> 0 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, and to the rents, issues and profits thereof, from the accruing of such right and during the
<br /> N 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
<br /> a on refusal, the delivery of the Property may be enforced by the PUBLIC TRUSTEE, the State as holder of the note, or the holder
<br /> of said certificate of purchase by an appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or
<br /> N certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits
<br /> N thereof, after such default, including the time covered by foreclosure proceedings and the period of redemption, if any there
<br /> ,:.i 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 /> O owner of said Property and without regard to the value thereof, and such Receiver may be appointed by any court of
<br /> co competent jurisdiction upon ex parte application and without notice, notice being hereby expressly waived, and all rents,
<br /> rn 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 /> co And, that in case of default in any of said payments of principal or interest, according to the tenor and effect of said
<br /> N promissory note or any part thereof, or of a breach or violation of any of the covenants or agreements contained herein and in
<br /> ,_..i the Contract, by the GRANTOR, its personal representatives or assigns, then and in that case the whole of said principal sum
<br /> o hereby secured, and the interest thereon to the time of the sale, may at once, at the option of the legal holder thereof,
<br /> become due and payable, and the said Property be sold in the manner and with the same effect as if said indebtedness had
<br /> o matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the
<br /> s supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if
<br /> r foreclosure be made through the courts a reasonable attorney's fee shall be taxed by the court as a part of the cost of such
<br /> w
<br /> foreclosure proceedings.
<br /> N It is further understood and agreed, that if a release or a partial release of this Deed of Trust is required, the
<br /> `t, GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants and agreements contained herein
<br /> r and in the Contract shall extend to and be binding upon the heirs or assigns of the respective parties hereto; and that the
<br /> cci singular 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 /> or' Smith Irrigation Ditch, a Colorado nonprofit corporation
<br /> co
<br /> co
<br /> By- e�Clc ) e�'��-f
<br /> ( : E A ) ,,017 . Keith Pantry, President
<br /> ATTEST: ��-crr 1J.-------
<br /> Julie Davidson, Secretary W% •.<`r',e
<br /> State of Col rado 11 :7.1
<br /> STAC'f 1\CI t\
<br /> ) 5aAN •
<br /> County of w4:(7t-t, ,N, .1,9
<br /> \,�qT.- ----CRs'/'G / !
<br /> The foregoing instrument was acknowledged before mis'.N1rsr. of I'U V�'N`°VI 1997, by
<br /> Keith Pankey as President of Smith Irrigation Ditch. Witnes-•►-. .n6 and offi .-I seal.
<br /> , .
<br /> ,��,, Ti»/2' IN ‘r Notary Public
<br /> My commission expires M1yComntteabnspires Jan.s►2001
<br />
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