2005-07-20_GENERAL DOCUMENTS - M1977342

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I—" �MMIIM' 11010 I'll 1111111 HE AIIIMI III 2005- 007484 07/15/2005 10:24A DT SARA L ROSENE 2 of 4 R 21.00 D 0.00 GRAND COUNTY CLERK The time for payment of this Deed of Trust for purposes of C.R.S. 1973, 38 -40- 106 and similar provisions of subsequent laws, is the final date by which reclamation is expected to be completed under the Financial Warranty first above described, or until such time as a replacement financial warranty is submitted and accepted by the Board. Grantor covenants that Grantor will not directly or indirectly engage in any mining operation upon said property, or allow others to do so, without the prior written consent of the beneficiary, and that so doing would be an event of default under this Deed of Trust. Should the beneficiary hereunder be made a party to any action affecting this Deed of Trust or the title to said property, the Grantor agrees that all court costs and a reasonable attorney's fee paid by the beneficiary shall become additional indebtedness due hereunder and the Grantor does hereby release and waive all claims in said property as a homestead exemption or other exemption now or hereafter provided by law. IT IS AGREED that, in case of default in payment of said Financial Warranties or a breach of any of the covenants or conditions therein or in this Deed of Trust, then the principal sum hereby secured, and interest thereon, may, at the option of the beneficiary, become due and payable at once, anything in said Warranties to the contrary notwithstanding, and possession of said property will thereupon be delivered to the beneficiary, and on failure to deliver such possession, the beneficiary shall be entitled to receiver for said property, who may be appointed by any court of competent jurisdiction. Whenever used herein, the singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. All of the covenants herein shall be binding upon the respective heirs, personal representatives, successors and assigns of the parties hereto. This Deed of Trust may be amended by Grantor from time to time, with the written concurrence of the beneficiary, to describe additional Financial Warranties which are to be secured by the Deed of Trust and to delete Financial Warranties which this Deed of Trust no longer secures. Should any provision of this Deed of Trust be found to violate the statutes or court decisions of the State of Colorado, or of the United States, such provision shall be deemed to be amended to comply with and conform to such statutes and decisions. {FSPT/DRAFT /10/3/2002 04:01 PM /CF13 DEED OF TRUST. WILLIAMS FORK PUMP STATION (84014):1 }