|
<br />('(
<br />
<br />,
<br />
<br />and peaceable possession of the PUBLIC ", ..> TEE, its successors and assigns, against all _" Id every person or persons lawfully
<br />claiming or to claim the whole or any part thereof, the GRANTOR shall and will Warrant and Forever Defend.
<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments levied on the Property;
<br />any and all amounts due on account of principal and interest or other sums on any senior encumbrances, if any; and will keep
<br />the Property insured in accordance with the requirements of the Contract. Should the GRANTOR fail to insure the Property
<br />in accordance with the Contract or to pay taxes or assessments as the same fall due, or to pay any amounts payable upon
<br />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 apart 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
<br />the GRANTOR. In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of
<br />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
<br />State as holder of the note, cr the holder of a certificate of purchase, shall at once become entitled to the possession, use
<br />and enjoyment of the Property aforesaid, and to the rents, issues and profits thereof, from the accruing of such right and
<br />during the pendency of foreclosure proceedings and the period of redemption, if any there be, and such possession shall at
<br />once be delivered to the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate cf purchase on
<br />request Bnd on refusal, the delivery of the Property may be enforced by the PUBLIC TRUSTEE, the State as holder of the note,
<br />or the holder of said certificate of purchase by an appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder
<br />of said note or certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues
<br />and profits thereof, after such default. including the time covered by foreclosure proceedings and tho period of redemption,
<br />if any there be, and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of the GRANTOR
<br />or of the then owner of said Property and without regard to the value thereof, and such Receiver may be appointed by any
<br />court of competent jurisdiction upon ex parte application and without notice. notice being hereby expressly waived - and
<br />all rents, issues and 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 />
<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
<br />in the Contract, by the GRANTOR, its personal representatives or assigns, then and in that case the whole of said principal
<br />sum hereby secured, and the interest thereon to the .time of the sale, may at once, at the option of the legal holder thereof,
<br />become due and payable, and the said Property be sold in the manner and with the same effect as if said indebtedness had
<br />matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the
<br />supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and
<br />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 />foreclosure proceedings.
<br />
<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
<br />in the Contrac.tshall,extend to and be binding upon the heirs or assigns of the respective parties hereto; and that the singular
<br />number shall.include the p)ural, the plural the singular, and the use of any gender shall be applicable to all genders.
<br />
<br />., . ~f..::.'.
<br />
<br /><:
<br />
<br />Windsor Reservoir and Canal Company
<br />
<br />.:( ...
<br />
<br />~
<br />
<br />-rLvhq Jj.l.l<>~I'~~/
<br />Elmer R. Gustafson, P sident
<br />
<br />By
<br />
<br />
<br />TIMOTHY J. DOh)
<br />
<br />State of Colorado ..>,} . NOTARY PUr.'_IC
<br />County of we.le\ 5 5 STATE OF C~~~:=~"DO
<br />
<br />The foregoing instrument was acknowledged before me this I m day of -.!2d-: .
<br />by Elmer R. Gustafson and Donn Engel. Witness my hand and official seal. ~ 8 iJ-
<br />
<br />
<br />Notary Public
<br />
<br />1996,
<br />
<br />My commission expires
<br />
<br />IJ~ 3.-'q~
<br />
<br />"
<br />
<br />.'
<br />
|