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absolutely waiving and releasing all rights and claims it may have in or to said Property as a Homestead Exemption, or other <br /> exemption, under and by virtue of any act of the General Assembly of the State of Colorado,or as any exemption under and by <br /> virtue of any act of the United States Congress, now existing or which may hereafter be passed in relation thereto and that the <br /> same is free and clear of all liens and encumbrances whatever,except previous hypothecations to the State of Colorado, and the <br /> above bargained Property in the quiet and peaceable possession of the PUBLIC TRUSTEE, its successors and assigns, against all <br /> and every person or persons lawfully claiming or to claim the whole or any part thereof,the GRANTOR shall and will Warrant and <br /> Forever Defend,subject to said exceptions. <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; and <br /> 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 payable <br /> upon senior encumbrances, if any,the beneficiary may make any such payments or procure any such insurance, and all monies <br /> 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 <br /> secured by 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 <br /> addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust to be in default <br /> for failure to procure insurance or make any further payments required by this paragraph. In the event of the sale or transfer of <br /> the Property,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 PUBLIC 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 to the value thereof,and such Receiver may be appointed by any 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 PUBLIC TRUSTEE, an attomey's fee in a reasonable amount for services in the supervision of said foreclosure <br /> proceedings shall be allowed by the PUBLIC 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 <br /> GRANTOR, its successors or assigns will pay the expense thereof;that all the covenants and agreements contained herein and in <br /> the Contract shall extend to and be binding upon the successors or assigns of the respective parties hereto; and that the singular <br /> 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 /> • <br /> ' "M ` Beaver Pani'Water, IpC. <br /> / Ei� <br /> • <br /> By 7,l � <br /> Frep Green, President <br /> john arae ur, S,ecretary ..:, 1111111111111111111 III 11111111111111111 III Hill Iill 'Hi <br /> '4! �rai ,� � � 661810 04/25/1997 10:45A B1280 P605 29 <br /> State of Color , •` .. ; 2 of 2 R 11.00 D 0.00 N 0.00 FREMONT COUNTY, CO <br /> SS. <br /> County of <br /> The foregoing instrument was acknowledged before me this i.e--t day of '-.-:.c 1997, by Fred Green. <br /> Witness my hand and official seal. <br /> GPRE1......... <br /> TA-I?y•. _ r�\(►�. L cam ��y� <br /> Notaryublic <br /> My commission expires �1 4i9i = % �-O-Q- .• <br /> • <br /> :4.0 C01-�PPO��• <br />