C153742 DOT Release

• Contract/PO #: C153742
• Contractor Name: Beaver Park Water, Inc.
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

claims it may have in or to said Property as a Homestead Exemption, or other exemption, under and by virtue of any act of the General Assembly
of the State of Colorado, or as any exemption under and by virtue of ary act of the United States Congress, now existing or which may hereafter
be passed in relation thereto and that the same is free and clear of all liens and encumbrances whatever, except previous hypothecations to the
State of Colorado, and the above bargained Property in the quiet and peaceable possession of the Punic TRUSTEE, its successors and assigns,
against all and every person or persons lawfully claiming or to claim the whole or any part thereof, the GRANTOR shall and will Warrant and
Forever Defend, subject to said exceptions.
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Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments levied on the Property; any and all cn
amounts due on account of principal and interest or other sums on any senior encumbrances, if any; and will keep the Property insured in °1
accordance with the requirements of the Contract. Should the GRANTOR fail to insure the Property in accordance with the Contract or to pay rn
taxes or assessments as the same fall due, or to pay any amounts payable upon senior encumbrances, if any, the beneficiary may make any ~'
such payments or procure any such insurance, 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 of the indebtedness secured by this Deed of Trust and may be paid out of the proceeds of the sale of the to
Property if not paid by the GRANTOR. In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed i
of Trust to be in default for failure to procure insurance or make any further payments required by this paragraph. In the event of the sale or ~'
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transfer of the Property, the beneficiary, at its option, may declare the entire balance of the note immediately due and payable. rn
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And that in case of any default, whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE, the State as holder of the fro
note, or the holder of a certificate of purchase, shall at once become untitled to the possession, use and enjoyment of the Property aforesaid, 1,...)
and to the rents, issues and profits thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period 0
of redemption, if any there be, and such possession shall at once be delivered to the PUBLIC TRUSTEE, the State as holder of the note, or the 0
holder of said certificate of purchase on request, and on refusal, the delivery of the Property may be enforced by the PUBLIC TRUSTEE, the State
as holder of the note, or the holder of said certificate of purchase by an appropriate civil suit or proceeding,and the PUBLIC TRUSTEE, or the holder 1--'
of said note or certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits N
thereof, after such default, including the time covered by foreclosure proceedings and the period of redemption, if any there be, and shall be a>
entitled thereto 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 regard to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex parte application and r✓
without notice - notice being hereby expressly waived - and all rents, issues and profits, income and revenue therefrom shall be applied by such co
Receiver to the payment of the indebtedness hereby secured, according to the law and the orders and directions of the court. O1
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And, that in case of default in any of said payments of principal or interest, according to the tenor and effect of said promissory note N
or any part thereof, or of a breach or violation of any of the covenants or agreements contained herein and in the Contract, by the GRANTOR, w
its successors or assigns, then and in that case the whole of said principal sum hereby secured, and the interest thereon to the time of the sale, ro
may at once, at the option of the legal holder thereof, become due and payable, and the said Property 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 PO
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 r`'
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 Contract shall extend to N
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.
Executed th3 dcy and date first written aba a. -
fo;* f : l'' ••-•, BeaverP Water,/c.
' SEAL - By /��!' ' l'&
•' ' 7':—/'
^- _. Fred Gre , Presi'ent
A-TTESfi + d /
,ohn S e urs Secretary r
„, ,"�t ,, . { �i�,
State'Qr`.�'o"1otacJt'
#' SS
County of Fremont orriuur,r
zr`��ARET'.7y0�-,23 rI
The foregoing instrument was acknowledged b@fir '•n1e is dra of October 1996,
by Fred Green and John Sandefur. Witness rpy lfArXIQid ipl Qeat
.0.0—a,
A C��`4:�A .J J 12—.
(r)•• g G.0 Notary Public
My commission expires 9T �O``
FOF COUT,
8/4/97 '•,,,,.,,,,,..