C153824 Contract

• Contract/PO #: C153824
• Contractor Name: Preisser, Rodney J.
• Contract Type: Loan
• Water District: 17
• County: Lincoln
• Bill Number: SPL
• Loan Projects - Doc Type: Contract Documents

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154096 09/29/1998 03:57P DT L. Nlohols
see to the application of the purchase money. 20'2 R 11.00 D 0.00 N 0.00 Co-owley County,Co
And the GRANTOR, for itself and its successors or assigns covenants and agrees to and with the PUBLIC TRUSTEE,
that at the time of the delivery of these presents it is weil seized of the Properly in fee simple, and has good right, fuil power
and lawful authority to grant, bargain, sell and convey the same in the manner and form as aforesaid; hereby fully and
absolutely waiving and reieasing ail rights and claims it may have in or to said Properly as a 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 and
by virtue of any act of the United States Congress, now existing or which may hereafter be passed In relation thereto and that
the same is free and clear of ail liens and encumbrances whatever, and the above bargained Properly in the quiet and
peaceable possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons lawfully
claiming or to claim the whole or any part thereof, the GRANTOR shall and will Warn,mt and Forever Defend.
Until payment in full of the indebtedness, the GRANTOR shall timely pay ail taxes and assessments levied on the
Properly and any and all amounts due on account of principal and interest or other sums on any senior encumbrances if
any. Should the GRANTOR fail to pay taxes or assessments as the same fall due, or to pay any amounts payable upon senior
encumbrances, if any, the beneficiary may make any such payments, and all monies so paid with interest thereon at the rate
of ten percent (10%) per annum shall be added to and become a part of the indebtedness secured by this Deed of Trust and
may be paid out of the proceeds of the sale of the Properly 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 make any
further payments required by this paragraph. In the event of the saie or transfer of the Properly, the beneficiary, at its option,
may declare the entire balance of the Promissory Note immediately due and payable.
And that In case of any default, whereby the right of foreclosure occurs hereunder, the PUBLIC TRUS1'EE, the State
as holder of the note, or the holder of a certificate of purchase, shall at once become entitled to the possession, use and
enjoyment of the Properly aforesaid, ,and to 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 any there be, and such possession shail at once be
delivered to the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase on request and
on refusal, the delivery of the Properly may be enforced by the PUBLIC TRUSTEE, the State as holder of the note, or the holder
of said certificate of purchase by an appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or
certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits
thereof, after 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 matter of right without regard to the solvency or insolvency of the GRANTOR or of the
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 parte application 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 of the indebtedness
hereby secured, according to the law and the orders and.directions of the court. The STATE shall give the GRANTOR written
notice of any aileged default and an opportunity to cure within thirty (30) days of receipt of such notice before the
GRANTOR shall be considered In default for purposes of this deed of trust.
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 thereof, or of a breach or violation of any of the covenants or agreements contained herein and in
the Contract, by the GRANTOR, its personal representatives or assigns, then and in that case the whole of said principal 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 if said indebtedness had
matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the
supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if
foreclosure be made through the courts a reasonable attorney's fee shall be !aXed by the court as a part of the cost of such
foreclosure proceedings.
It Is further understood and agreed, that if a release or a partial release of this Deed of Trust is required, the
G~NTOR, its successors or assigns will pay the expense thereof; that all the covenants and agreements contained herein
and in the Contract shall extend to and be binding upon the heirs or assigns of the respective parties hereto: and that the
singular ri'" .t)eT.~~all include the plural, the plural the singular, and the use of any gender shall be applicable to all genders.
'::';the day and date first written ab<;lve. ' , ~

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