C150148 PIF

• Contract/PO #: C150148
• Contractor Name: The Ogilvy Irrigating and Land Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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04.27
3123185 1110312003
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claims it may have in or to said COLLATERAL as a Homestead Exemption or other exemption, now or
hereafter provided by law. The GRANTOR further covenants that the collateral is free and clear of all
liens and encumbrances whatever and that the GRANTOR shall warrant and forever defend the
COLLATERAL in the quiet and peaceable possession of the PUBLIC TRUSTEE, its successors and assigns,
against all and every person or persons lawfully claiming or to claim the whole or any part thereof.
Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and
assessments levied on the COLLATERAL; any and all amounts due on account of the principal and
interest or other sums on any senior encumbrances, if any; and will keep the COLLATERAL insured in
accordance with the requirements of the LOAN CONTRACT. In the event of the sale or transfer of the
COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of the note immediately due
and payable.
In case of default in any of said payments of the principal or interest, according to the terms of
said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then said
principal sum hereby secured, and interest thereon, may at once, at the option of the BENEFICIARY,
become due and payable, and the said COLLATERAL be sold in the manner and with the same effect as
if said indebtedness had matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's
fee in a reasonable amount for services in the supervision of said foreclosure proceedings shall be
allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if 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
foreclosure proceedings.
It is further understood and agreed, that if a release or a partial release of this Deed of Trust is
required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants
and agreements contained herein and in the Promissory Note and LOAN CONTRACT shall extend to and
be binding upon the successors or assigns of the respective parties hereto; and that the singular
number shall include the plural, the plural the singular, and the use of any gender shall be applicable to
all genders.
The Ogilvy Irrigating and Land Company, a Colorado
"`" nonprofit corporation
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,;,' , •c .FtPOR TE
. r- By 9 zry,1
:c> !r o �,
Jack Holman, President
� • o
-Joyce Am• dson, Corporate Secretary
County of a)a, d )
SS
State of Colorado
The foregoing instrument was acknowledged before me this .2/—day of a±06Qr 2003, by Jack
Holman and Joyce Amundson as President and Corporate Secretary, respectively, of The Ogilvy
Irrigating and Land Company. Witness my hand and official seal.
otiAN �y
.11 Notary Public
1 y: �0:qRy• x
My commission expires ��21 �Cx�C� .— P 7 ' f
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