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<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 fall 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, lhe 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
<br />indebtedness 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
<br />GRANTOR. In addition, and at its option, the beneficiary may declare the Indebtedness secured hereby and this Deed of Trust to
<br />be in default for failure to procure Insurance or make any further payments required by lhls paragraph. In the event of the sale or
<br />transfer of the Property, the beneficiary, at its option, may declare the entire balance of the note immediately due and payable.
<br />
<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
<br />of purchase by an appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or certificate of
<br />purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits thereof, after such
<br />default, including the time covered by foreclosure proceedings and the period of redemption, If any there be, and shall be entitled
<br />thereto as a matter of right without regard to the solvency or insolvency Of th~ GRANTOR or of the then owner of said Property
<br />and without regard to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex
<br />parte application an~ without notice - notice being hereby expressly waived - and all rents, issues and profits, income and
<br />revenue therefrom shall be applied by such Receiver to the payment of the indebtedness hereby secured, according to the law
<br />and the orders and directions of the 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
<br />promissory note or any part thereof, or of a breach or violation of any of the covenants or agreements contained herein and in
<br />the Contract, by the GRANTOR, its successors or assigns, then and in lhat case the whole of said principal sum hereby secured,
<br />and the interest thereon to the time of the saie, may at once, at the option of the legal holder thereof, become due and payable,
<br />and the said Property be sold in the manner and with the same effect as if said indebtedness had matured, and that if
<br />foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of said
<br />foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of foreciosure, and if foreclosure be made
<br />through the courts a reasonable attomey's fee shall be taxed by the court as a part of the cost of such foreclosure proceedings.
<br />
<br />It is further understood and agreed, that if a reiease or a partial release of this Deed of Trust is required, the
<br />GRANTOR, . . '~l>~SOrS or assigns will pay the expense thereof; that all the covenants and agreements contained herein and in
<br />the C .. " . ~ d to and be binding upon the successors or assigns of the respective parties hereto; and that the
<br />sl '.'~' " e the plural, the plural the singular, and the use of any gender shall be applicable to all genders,
<br />
<br />ItIfII ' d date first written above.
<br />. "
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<br />ATTEST . ~tJ:!. ~ t.
<br />'Corporate Secretary
<br />
<br />State of Coiorado, County of (h ~C( )
<br />
<br />
<br />
<br />The Trinchera Irrigation Company, a Colorado nonprofit
<br />
<br />
<br />5;00
<br />,rav < ~;,L'L4. ~
<br />Ii ~fi1~esident
<br />
<br />The Poeg,olng insfrument,was acknowledged before me this ~ay of
<br />and ete,-f, t; ~"Ii- . ,as Corporate Secreta e T' chera Irrigati
<br />
<br />
<br />My commission expires .5/' /.!1/J110
<br />
<br />
<br />1998, by Tracy S. Kester, as President
<br />pany. Witness my hand and official seal.
<br />
<br />Notary Public
<br />
<br />;1'111111 111II:1111lllllll 11111 111I 111111111I1111111111111' . ,
<br />
<br />;215584 01/15/1999,.11 :02A .B355 P355 .... " .' ".
<br />,2cif 2'R 11.00 D 0,00 ROye , MARTINEZ. COSTILLA
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