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solvency or insolvency of the GRANTOR or of the then owner of said Property and without regard to the <br />value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex <br />parte application and without notice - notice being hereby expressly waived - and all rents, issues and <br />profits, income and revenue therefrom shall be applied by such Receiver to the payment of the <br />indebtedness hereby secured, according to the law and the orders and 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 <br />effect of said promissory note or any part thereof, or of a breach or violation of any of the covenants or <br />agreements contained herein and in the Contract, by the GRANTOR, its successors or assigns, then <br />and in that case the whole of said principal sum hereby secured, and the interest thereon to the time of <br />the sale, may at once, at the option of the legal holder thereof, become due and payable, and the said <br />Property be sold in the manner and with the same effect as if said indebtedness had matured, and that <br />if foreclosure be made by the PUBLIC TRUSTEE, an 8ttomey's fee in a reasonable amount for services in <br />the supervision of said foreclosure proceedings shall be allowed by the PueuC TRUSTEE as a part of <br />the cost of foreclosure, and if foreclosure be made through the courts a reasonable attorney's fee shall <br />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 <br />required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants <br />and agreements contained herein and in the Contract shall extend to and be binding upon the <br />successors or assigns of the respective parties hereto; and that the singular number shall include the <br />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 />(SEAL) <br />ATTEST <br />By <br />Sharon Seaworth, Corporate Secretary <br />State of Colorado <br />SS. <br />County of <br />North Poudre Irrigation Company, a Colorado <br />nonprofit corporation. <br />Duane Aranci, President <br />The foregoing instrument was acknowledged before me this day of 1999, by <br />Duane Aranci as President and Sharon Seaworth as Corporate Secretary. Witness my hand and <br />official seal. <br />Notary Public <br />My commission expires <br />