PROJC01027

• Contract/PO #: C153683
• Contractor Name: Military Park Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Bill Number: SB 94-029
• Loan Projects - Doc Type: Contract Documents

And the granlorcovenantsand agrees toand with the Public Trustee, that at thetimcofthe ensealing of and delivery of these presents he is well seized of
the said land and tenemeots in fee simple, and hasgood right, full power and lawful authority to grant, bargain, sell and convey the same in the manner and
fonn as aforesaid; hereby fully and absolutely waiving and releasing all rights and claims he may have in or to said lands, tenements, and property as a
Homestead Exemplioo, or other eJliemptiOll. under and by virtue of any act of the General Assembly of the State of Colorado , or as any exemption under
and by virtue ofany act oftbe United States Congress, nowC}l;istingorwhich may hereallerbe passedin relation Iheretoand thatlhesame are rreeand clear
of all liens and encumbrances whatever, except

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and the above bargained property in the quiet and peaceable possession oftbe Public Trustee, against all and every person or persons lawfully claiming or to
claim the whole or any part thereof, the grantor shall aud will Warrant and Forever Defund.
Until payment in full of the indebtedness, tbe grantor shall timely pay all taxes aud assessments levied on the property; any and all amounis due on
account of principal and interest or other sums on any seuior encumbrances, if any; and will keep all improvements that may be on said lands insured
against any casualty loss, including extended coverage, in a company or companies meeting the net worth requirements of the beneficiary hereof in an
amount which wlll yield to the holder of the indebtedness, aner reduction by co-insurance provisions of the policy, if any, not less than the then total
indebtedness. Each policy shall contain a loss payable clause naming the beneficiary as mortgagee and shall further provide that the i"~llrllnCll '11l'!y \\ot M
clmceJed upon less than ten days written notice to the beneficiary. At the option of the beneticiary,'the original policy or policies of insurance shall be
delivered to the beneficiary as further security for the indebtedness. Should the grantor fail to irulure and deliver the policies orto pay taxes or assessments as
the same fall due, or to pay any amounts payable upon senior encumbrances, if any, 1he beneficiary may make any such payments or procure any such
insurance, and all monies so paid wilh interes.t, the_reon at the rate of 8 % per annum shall be added to and become a part of the indebtedness secured.
by Ihis Deed of'frust and may be paid nut ofthe proceeds of the sale ofllie property if not paid by the grantor. In addition, and at its option, the beneficiary
may declare the indebtedness secured hereby and this Deed of Trust to be in default for failure to procure insurallceor make any oftbe payments required
by this paragraph,
Ifall or any part oftbe property or an interest therein is sold or transferred by the grantor without bene1iciary's prior written conScCnt, excluding(a) the
creation of a lien or encumbrance subordinate to this Deed of Trust, (b) tbe creation of a purchase money security interest for household appliances, (c) a
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 less not
containing an option to purchase, beneficiary may, at beneficiary's option. declare all the sums secured by this Deed of Trust to be immediately due and
payable, Beneficiary shan 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
ortransferredreachagreementinwritingthatthecreditofsuchpersonissatisfactoryto beneficiary and that tllt: interest payable on the sums secured by
this Deed of1hist shaU be at such rate as beneliciaryshaU request.
AND THAT IN CASE OF ANY DEFAULT whereby the right of foreclosure occurs hereunder, the holderofsaid note or certificate of purchases hall at
once become entitled to tbe possession, use and enjoyment of the property aforesaid. and 10 the rents, issues and profits thereof, from the accruing of such
right and during the pendency of foreclosure proceedings and the period of redemption; if lc\ny there be.: and such pos-session shall at once be delivered to the
holder of said note or certificate of purchase on request, and on refusal, the delivery of such possession may be enforced by the holder of said note or
certificate of purchase by any appropriale civil suit or proceeding, and the holder of said note or certificate of purchase, or any thereof. shall be entitled to a
Receiver for said property, and ofthe rents, issues and profits thereof. aner such default. including the time covered by foreclosure proceedings and the
period of redemption, if any there be, and shall be entitled thereto as a mailer of right without regard to the solvency or insolvency of the grantor or of the
then owner of said property aod without regard to the value thereof. and such Receiver may be appointed by any court of competent jurisdiction upon ex
parte applieation and without notice - notice being hereby expressly waived _ and all rents, issues and profits, income and revenue therefrom shall be
applied by such Receiver to the payment oftbe indebtedness hereby secured, according to the law and the orders and directions or the court.
AND, that in case of default in any of said payments of principal or interest, according to the tenor and effect of said promissory nOte or any part
thereQf, or ofa breach orviolation of any of the covenants or agreements herein, by the grantor, then and in that case the whole of said priocipal sum hereby
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
be sold in the manner and with the same effect as ifsaid indebtedness had matured, and that if foreclosure be made by the Public1tustee, an attorney's fee
of1lte'5trJrr'Uf in a reasonable amount t!IRIIIi.M&,
for services in the supervision of said foreclosure proc<:edings shall be allowed by the Public 1histee as a part of the cost of foreclosure, and if foreclosure be
made through the courts a reasonable attorney's fee shall be taxed by the court as a part of the cost ohuch foreclosure proceedings,
II Is Further Understood llnd Agreed,that if a release of this deed of trust is required, the grantor will pay the expense thereof; that all the covenents and
agreements herein contained shan extend to and be binding upon the heirs, personal representatives, successors and assigns of the respective parties herelo;
and that the singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders.

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NIUIIC aad Address of Persoo Creating Newly Cleated Legal Descriplioll (0 38-3S-106's, C.R.S

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