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<br />And the grantor covenants and agrees to and with the Public lhLstee, that at the time afthe cnseaIiq orand delivery of these presents he is well seized of
<br />the said land and tenemeIlts ill fee simple, and has good risht, full power and lawful authority to grant, bargain. sell and convey the same in the manner and
<br />Conn as aforesaid; bereby fully and absolutely waiving and re1easiog all rights and claims be may have in or to said lands, tenements. and property as a
<br />Homestead Exemption, or other exemption, under and by virtue of any act of the General Assembly of the State of Colorado, or as any exemption under
<br />and by virtue of any act olthe United States Congress, now existing or which may hereafter be passed in relation tlH:reto and that the same are free and clear
<br />ofallliens and encumbrances whatever, except None
<br />
<br />and the above bargained property in the quiet and peaceable possession ohhe Public nustee, against all and every person or persons lawfuny claiming or to
<br />claim the whole or any part thereof, the grantor shall and will Warrant and Forever Defend.
<br />Until payment in full orlbe indebtedness, the grantor shaI1 timely pay aU taxe!! and assessments levied on the property; any and all amounts due'on
<br />acc.ouut of principal and interest or other !lUm.s. ()U anv senior encumbrances, if lID)'; and will keep all improvements that may ~ ell, said lands inJured
<br />against any casualty loss, including extended ooverage", in a company or companies meeting the net worth requirements of the bencficiaiy hereof in an
<br />amount which will yield to the holder of the indebtedness, after reduction by co-insurance provisions of the policy, if any, not less than the then total
<br />indebtedness. Each policy shall contain a loss payable clause naming the beneliciary as mortgagee and shall further provide that the insurance may not be
<br />canceled upon less t~ ten days written notice to the benell.ciary. At the option of the beneficiary, the original policy or policies of insurance shall be
<br />delivered to the beneliciary as further security for the indebtedness. Should the grantor fall to insure and delivertbo policies orto pay talles or assessments as
<br />the same fall due, or to pay any amounts pa~ble upon senior encumbrances, if any, the beneliciary may make any such payments or procure any such
<br />insurance, andallmouiessopaid with interest thereonat tberateof 6.5.% per annlID1shall be added to;JEi me a partofthe indebtedness secured
<br />by this Deed ofThuit and may be paid out of the proceeds of the sale of the property ifnot paid by the grantor. addition, and at its option, the beneficiary
<br />may declarethe indebtedness secured hereby and this Deed ofT rust to be in default for failure to procure in. ce or make any of the payments required
<br />by this paragraph. '
<br />If all or any part, of the property or an inteteSt therein is sold or transferred by the grantor without beheliciary's prior written consent, excluding (a) the
<br />creatiOD of a lien or encumbrance subordinate to this Deed of1h1st, (b) the creation ofa purehase money security intereat for household appliances, (c) a
<br />transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or Iesa not
<br />oontainina an option to purcl1ase, beneficiary may, at beneficiary's option, declare all the swns secured by this Deed of 11'USt to be immediately due aDd
<br />payable. Beneliciary shall have waived such option to accelerate if, prior to the sale or transfer, beneficiary and the person to whom the property is to be sold
<br />or transferred reach agreement in writing that the credit of such person is satisfactory to beneliciary and that the interest payable on the sums secured by
<br />this DeedofThuit shall ~ at such rate as beneficiary shall request.
<br />AND THATIN CASE OF ANYDEFAULTwherebytherightofforeclosureoccurshereunder, theholderofsaidnoteorcertificateofpurchasesball at
<br />once become entitled to the possession, use and eJ\ioyment of the property aforesaid, and to the rents, issues and proJits thereof, from the accruing of such
<br />right and during the pendency of foreclosure proceedings and the period of redemption, if any there be: and such possession shall at once be delivered to the
<br />holder of said note or certilicate of purehase on request, and on refusal, the delivery of such possession may be enforced by the holder of said note or
<br />certilicate of purchase by any appropriate civil suit or proceeding, and the holder of said note or certilicate of purchase, or any thereof, shall be entitled to a
<br />Receiver for said property, and of the rents, ~es and profits thereof, after such default, including the time covered by foreclosure proceedings and the
<br />period of redemption, if any there be, and shall be entitled thereto as a matter of right without regard to tho solvency or insolvency of the grantor or of the
<br />then owner of said property and without regard. to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex
<br />parte application and without notice - notice being herehy expressly waived - and all rents, issues and profits, income and revenue therefrom shall be
<br />applied by such Receiver to the payment of the 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 iIlterest, according to the tenor and effect of said promissory note or any part
<br />thereof, or of a breach or violation of any of the covenants or agreements herein, by the grantor, then aDd io that case the wbole of said principal SIID1 hereby
<br />secured and 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 the said property
<br />be sold in the manner and with the same effect as if said indebtedness had matured, and that ifforeelosure be made by the Public llustee, an attorney's fee
<br />er~~'" ;,: in a reasonable amount . -doIktrS~
<br />(or ScIlf'{;.ces in tlJ~ s~pervision of said foreclosure proceedings shall ~ allowed by the Public 'Ihlstee as a part of the cost of forecJoswe, and ifforeclosure be '
<br />" . . .th.e"'courtS a reasooable attorney's fee shall be taxed by the court as a part of the cost of such foreclosure proceedings.
<br />~,!>:1.l I ';~,''-~.-. and Atp"eed,that lfareleaseofthisdeedoftrustlS required,the grantorWlU pay the expense thereof; that all tbecoveneuts and
<br />','.f ' shall extend to and be binding upon the heirs. personal representatives, successors and assigns ofthe respective parties hereto;
<br />. if/'t;,\81li. _ ,"-M ~'," ..;."shallincludetheplural,thepluralthesingular,andtheuseOfanygendershall~applicabletoaUgend-ers
<br />.,......;..:t.'. :-.~-~ .)fIr-. ''':::'1', ' _ 1'1
<br />.' \:~~.l::"1,~ ':b~~d~hi;'~~~t~th day of
<br />'~,~it, ...!\~;,f ..
<br />
<br />,.,,". i' (\." ,. Sedl1~ <l\\y
<br />'. \10\,:\''-''''''.('' 'c.-"",>,,,',
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<br />
<br />
<br />March
<br />
<br />,19 94.
<br />
<br />The Windsor Reservoir and Canal Co.
<br />
<br />bv:
<br />
<br />-e tfi' k"" 5t2 ~
<br />E.R.Gustafson, resi ent
<br />
<br />
<br />State of Colorado
<br />Countyof Larimer
<br />
<br />)~
<br />
<br />ent was acknowledged before me this
<br />tafson, President of
<br />
<br />8th day of
<br />The Windsor Reservoir and
<br />
<br />March ,19 94
<br />Canal Company
<br />
<br />~
<br />
<br />NoWyP\lb1i<,:
<br />
<br />Name aDd Adlhc$$ of Person CrealiDs Newly Created legai Des<.:rlption (~ 38-35-106.5, C.R.S.)
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