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<br />111111I11111111111111I111111111111111111111111111111111
<br />564718 03/24/2003 03:14P B967 P37 Ann Eddins
<br />2 of 2 R 10.00 D 0.00 Delta Cty, co Clerk & Rec
<br />COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale.
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of
<br />the COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and
<br />convey the same in the manner and form as aforesaid. The GRANTOR fully waives and releases all
<br />rights and claims it may have in or to said COLLATERAL as a Homestead Exemption or other
<br />exemption, now or hereafter provided by law. The GRANTOR further covenants that the collateral is
<br />free and clear of all liens and encumbrances whatever and that the GRANTOR shall warrant and
<br />forever defend the COLLATERAL in the quiet and peaceable possession of the PUBLIC TRUSTEE, its
<br />successors and assigns, against all and every person or persons lawfully claiming or to claim the
<br />whole or any part thereof.
<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and
<br />assessments levied on the COLLATERAL; any and all amounts due on account of the principal and
<br />interest or other sums on any senior encumbrances, if any; and will keep the COLLATERAL insured in
<br />accordance with the requirements of the LOAN CONTRACT. In the event of the sale or transfer of the
<br />COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of the note immediately
<br />due and payable.
<br />In case of default in any of said payments of the principal or interest, according to the terms of
<br />said Promissory Note or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then said
<br />principal sum 'hereby secured; and interest thereon, may at Clnce, at tlge option of the BENEFICIARY,
<br />become due and payable, and the said COLLATERAL be sold in the manner and with the same effect
<br />as if said indebtedness had matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an
<br />attomey's fee in a reasonable amount for services in the supervision of said foreclosure proceedings
<br />shall be allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be
<br />made through the courts a reasonable attorney's fee shall be taxed by the court as a part of the cost
<br />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
<br />required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants
<br />and agreements contained herein and in the Promissory Note and LOAN CONTRACT shall extend to
<br />and be bindin<;l upon the successors or assigns of the respective parties hereto; and that the singular
<br />number shall Include the plural, the plurai the singular, and the use of any gender shall be applicable
<br />to 'lilf ~enQ~rs.
<br />.~;~1r.~~'~&~~Td the day and date first written above.
<br />':II'4-,Il" ,''''.::.....~ -"::;0,,1, The Delta a Colorado nonprofit
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<br />;::,~$ril.." r:. '~l~~ ,~;~.X~~ '~ corporation
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<br />orporate Secretary
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<br />County of Delta )
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<br />State of Colorado }
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<br />The foregoing instrument was acknowledged before me this {(P ~ay of [)iL~~ ; '''?;%o:i;O>tDaniel
<br />J. Putney and L-evev^(lC<.. .a.J.1!J? II'J../_, as President and Corporate Secr~..;~spective~~1.bf The
<br />Delta Canal Company. Witness my hand and officiqj se~. .J/ 4f....1ii.8l>....'iI: ',,6 .rGil:flll. ):.....".~<.
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<br />My commission expires I {J I:.~- 1:< {)O ~/~~~~::~,~%1tlo~''';'
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