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<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and a-ssessments levied on the Property; any and
<br />all amounts due on account of principal and interest or other sums on any senior encumbrances, if any; and will keep the Property insured
<br />in accordance with the requirements of the Contract. Should the GRANTOR fail to insure the Property in accordance with the Contract or to
<br />pay taxes or assessments as the same fall due, or to pay any amounts payable upon senior encumbrances, if any, the beneficiary may make
<br />any such payments or procure any such tn~urance, and all monies so paid with interest thereon at the rate of ten percent (10%) per annum
<br />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
<br />the Property if not paid by the GRANTOR. In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this
<br />Deed of Trust to be in default for failure to procure insurance or make any further payments required by this paragraph.
<br />
<br />AND THAT IN CASE OF ANY DEFAULT, whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE, the State as holder
<br />of the note, or the holder of a certificate of purchase. shall at once become entitled to the possession, use and enjoyment of the Property
<br />aforesaid, and to the rents, issues and profits thereof. from the accruing of such right and during the pendency of foreclosure proceedings
<br />and the period of redemption, if any there be, and such possession shall at once be delivered to the PUBLIC TRUSTEE, the State as holder of
<br />the note, or the holder of said certificate of purchase on request and on refusal, the delivery of the Property may be enforced by the PUBLIC
<br />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
<br />TRUSTEE, or the holder of said note or certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents,
<br />issues and profits thereof, after such default, including the time covered by foreclosure proceedings and the periOd of redemption, if any there
<br />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 owner of said
<br />Propeity and without regard to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex parte
<br />application 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 directions of the
<br />court.
<br />
<br />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
<br />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,
<br />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
<br />sale, may at once, at the option of the legal holder thereof, become due and payable, and the said Properly be sold in the manner and with
<br />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
<br />amount for services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of
<br />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
<br />forp.closure proceedings.
<br />
<br />IT IS FURTHER UNDERSTOOD AND AGREED, that if a release of this Deed of Trust is required, the GRANTOR will pay the expense
<br />thereof; that all the covenants and agreements contained herein and in the Contract shall extend to and be binding upon the successors and
<br />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
<br />shall be applicable to a!1 genders.
<br />
<br />>
<br />Ex~clitad the day and date first written above.
<br />
<br />(SEAL) .
<br />A~EST(~--11 /7, 0~rA..I
<br />
<br />Castle Pines North Metropolitan District
<br />
<br />
<br />" ~,,~.
<br />
<br />Castle Pines North Metropolitan Distrk:t Watp.r ft.::tivity Errt",rpdse
<br />
<br />(SEAL)
<br />ATTE"~,,.€>:n/# 0-Lt:rd..l
<br />
<br />By
<br />
<br />T~ P~sident
<br />
<br />5~Jta of ColorEoo
<br />
<br />} 55
<br />
<br />County of
<br />
<br />The foregoing instrument was acknowledged before me this 3./2.- day of January 1996, by Thomas J. Weldon, as President of the Castle
<br />Pines North Metropolitan District and of the President of the Castle Pines North Metropolitan District Water Activity Enterprise. Witness my
<br />hand and seal.
<br />
<br />Nota
<br />
<br />
<br />NOlMY PlIlUC
<br />STATE OF ca.ORADO
<br />My Comnission EJllia 7-11'-
<br />
<br />
<br />My commission expires
<br />
<br />7/;(!'lJ'
<br />
<br />9631443 - 06/JO/g6 11 :?g
<br />
<br />KF:'1'~ ';. rRATN nOTJr::T.A!O rn rOT.!) rT.J;;,:1" Ie RF:rnKn~
<br />
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