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<br />
<br />any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and
<br />profits thereof, after such default, including the time covered by foreciosure proceedings
<br />and the period of redemption, if any there be, and shall be entitled thereto as a matter of .
<br />right without regard to the solvency or insolvency of the GRANTOR or of the then owner of
<br />said Property and without regard to the value thereof, and such Receiver may be appointed
<br />by any court of competent jurisdiction upon ex parte application and without notice - notice
<br />being hereby expressly waived - and all rents, issues and profits, income and revenue
<br />therefrom shall be applied by such Receiver to the payment of the indebtedness hereby
<br />secured, according to the law and the orders and directions of the court. The STATE shall
<br />give the GRANTOR written notice of any alleged default and an opportunity to cure within
<br />thirty (30) days of receipt of such notice before the GRANTOR shall be considered in default
<br />for purposes of this deed of trust.
<br />
<br />And, that in case of default in any of said payments of principal or interest,
<br />according to the tenor and effect of said promissory note or any part thereof, or of a breach
<br />or violation of any of the covenants or agreements contained herein and in the Contract, by
<br />the GRANTOR, its personal representatives or assigns, then and in that case the whole of
<br />said principal sum hereby secured, and the interest thereon to the time of the sale, may at
<br />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
<br />matured, and that if foreciosure be made by the PUBLIC TRUSTEE, an attorney's fee in a
<br />reasonable amount for services in the supervision of said foreclosure proceedings shall be
<br />allowed by the PUBLIC TRUSTEE as a part of the cost of foreciosure, and if foreclosure be
<br />made through the courts a reasonable attorney's fee shall be taxed by the court as a part of
<br />the cost of such foreclosure proceedings.
<br />
<br />It is further understood and agreed, that if a release or a partial release of this
<br />Deed of Trust is required, the GRANTOR, its successors or assigns will pay the expense
<br />thereof; that all the covenants and agreements contained herein and in the Contract shall
<br />extend to and be binding upon the heirs or assigns of the respective parties hereto; and that
<br />tliei-singular nUmber. shall include the plural, the plural the singular, and the use of any
<br />ender shall be applicable to all genders.
<br />
<br />~... ~ ecuted the day and date first written above.
<br />
<br />~.~~~~ ' THE HORSE CREEK WATER USERS ASSOCIATION,
<br />l ~ J:.. a Colorado nonprofit cor oration
<br />: '-
<br />. \.
<br />. .
<br />. .
<br />. .
<br />~'. -<) .. By
<br />"'),'" VeL ,0..',,0
<br />~ ....~rt.. v
<br />Of: COil'
<br />r an Summers,
<br />
<br />
<br />
<br />State of Colorado
<br />
<br />l ss
<br />
<br />County of (. \ '0" ./0,,,
<br />
<br />The foregoing instrument was acknowledged before me this .2ofloay of ,T~ '
<br />1998 by Donald V. Johns as President of the Horse Creek Water Users Association.
<br />Witness my hand and official seal. ,n ( .n
<br />
<br />My commission expires 1?/:l.OO f ~j;~A-~-r~ '....h~b(" '.: ' Notarv Public
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