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<br />" <br /> <br />1111111111111 ~IMI) II1II1 ~~~~~1~36A <br /> <br />ChrisC.Munoz PuebloCtyClk&Rec TO R 11.00 D 0.00 <br />COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey the same in <br />the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and claims it may have in <br />or to said COLLATERAL as a Homestead Exemption or other exemption, now or hereafter provided by law. The <br />GRANTOR further covenants that the collateral is free and clear of all liens and encumbrances whatever and that <br />the GRANTOR shall warrant and forever defend the COLLATERAL in the quiet and peaceable possession of the <br />PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons lawfully claiming or to <br />claim the whole or any part thereof. <br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments <br />levied on the COLLATERAL; any and all amounts due on account of the principal and interest or other sums on <br />any senior encumbrances, if any; and will keep the COLLATERAL insured in accordance with the requirements of <br />the LOAN CONTRACT. In the event of the sale or transfer of the COLLATERAL, the BENEFICIARY, at its option, may <br />declare the entire balance of the note immediately due and payable. <br />In case of default in any of said payments of the principal or interest, according to the terms of said <br />Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then said principal sum hereby <br />secured, and interest thereon, may at once, at the option of the BENEFICIARY, become due and payable, and the <br />said COLLATERAL 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 attorney's fee in a reasonable amount for services in the <br />supervision of said foreclosure proceedings shall be allowed by the P'UBUC 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 <br />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 required, <br />the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants and agreements <br />contained herein and in the Promissory Note and LOAN 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 plural, the <br />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 /> <br />(SEAL) <br /> <br />Arkansas Groundwater Users Association, a <br />Colorado nonprofit corporation <br /> <br />~ By L '-111. a- <br /> <br />Thomas M. Dines, Vice-President <br /> <br />ATTEST: <br /> <br />By <br /> <br /> <br />lJ <br /> <br /> <br />Cliff r Walter, Secretary/T reasurer <br /> <br />County of CJ\ <<- \' 6 ) <br />) SS <br />State of Colorado ) <br /> <br /> <br />\ <br />i\ <br /> <br />The foregoing instrument was acknowledged before me this / d, TI) day of <br />Thomas M. Dines and Clifford Walter, as Vice-President and Secretaryrrreasu ", <br />Arkansas Groundwater Users Association. Witness my hand and official seal. :" <br /> <br />~~ ;f lG~'t..ll~CV\~ <br /> <br />My commission expires <br /> <br />~L l7 zooa <br /> <br />Page 2 of 2 <br />