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Best CO RECEIVED
<br /> pYAvailable
<br /> OCT 102017
<br /> DEED OF TRUST
<br /> (Continued) PagMTER RESOURCES
<br /> STATE ENGINEER COLO.
<br /> which Lender may be emitted on account of any default. Any such action by Lender shall not be construed as curing the default so as
<br /> to bar Lender from any remedy that it otherwise would have had. C�'s `'
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a Pert of this Dead of Trust: RECEIVED
<br /> Title. Grantor warrants that: (a)Grantor holds good and marketable title of record to the Property in fee simple,free and clear of
<br /> all liens m and encumbrances other than those set forth in the Real Property,description or in any title insurance policy,title report,
<br /> or final title opinion Issued in favor of,and accepted by,Lender in connection with this Deed of Trust,and IN Grantor has the O C Z ,F`3 �0(t�7
<br /> full right,power,and authority to execute and deliver this Deed of Trust to Lender.
<br /> Defense of Thee. Subject to the exception in the paragraph above. Grantor warrants and will forever defend the title to the
<br /> Property against the lawful claims Of all persons. In the event any action or proceeding is commenced that questions Grantor's WATER RESOURCES title or the interest of Trustee or Lender under this Deed of Trust.Grantor shall defend the action at Grantor's expense. Grantor STATE E GINEER
<br /> may be the nominal party in such proceeding,but Lender shall he entitled to participate In the proceeding and to he represented in O
<br /> the proceeding by counsel of Lender's own choice,and Grantor will deliver,or cause to be delivered,to Lender such instruments
<br /> as Lender may request from tlme to time to permit such participation.
<br /> Complance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing
<br /> applicable laws,ordinances,and regulations of governmental authorities.
<br /> Survival of Promises. All promises, agreements, and statements Grantor has made In this Deed of Trust shall survive the
<br /> execution and delivery of We Dead of Trust,shall he continuing in nature and shall remain in full force and effect until such time
<br /> as Grantor's Indebtedness is Rid In full.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br /> Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall
<br /> promptly take such scope as may he necessary to defend the action and obtain the award. Grantor may he the nominal party in
<br /> such proceeding,but Lender shall he entitled to participate in the proceeding and to be represented in the Proceeding by counsel
<br /> of its own choice, and Grantor will deliver or cause to he delivered to LaMar such Instruments and documentation as may be
<br /> requested by Lender from time to time to permit such participation.
<br /> Application of Net Proceeds. If all or any pan of the Property Inc condemned by eminent domain proceedings or by any proceeding
<br /> or purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net Proceeds of the award be
<br /> applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the awartl shall mean the award
<br /> after payment of all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender In connection with the
<br /> condemnation.
<br /> IMPOSITION OF TAXES. FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions, relating to
<br /> governmental taxes,fees and charges are a on of this Deed of Trust
<br /> Current Taxes.Fees and Charges. Upon request by Lender,Grantor shall execute such documents In addition to this Dead of
<br /> Trust and take whatever other action is requested by Lender to perfect and continue LaMar's lien on the Real Property. Grantor
<br /> shell reimburse Lender for all taxes,as described below,together with all expenses incurred in recording,perfecting or continuing
<br /> this Dead of Trust,including without limitation all taxes,fees,documentary stamps,and other charges for retarding or registering
<br /> this Dead of Trust.
<br /> Texas. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or
<br /> upon all or any part of the Indebtedness "owed by this Deed of Trust; 12) a opeclfic tax on Grantor which Grantor Is
<br /> authorcied or required to deduct from payments on the Indebtedness secured by this type of Dead of Trust; 13) a tax on this
<br /> type of Dead of Trust chargeable against the LaMar or the holder of the Hate;and (4) a specific tax on all or any onion of the
<br /> Indebtedness or on payments of principal and interest matte by Grantor.
<br /> Subsequent Taxes. If any tax to which this motion applies is enacted subsequent to the data of this Deed of Trust,this event
<br /> shall have the same affect as an Event of Default,and LaMar may exercior any or all of its available remedies for an Event of
<br /> Datiult as provided below unless Grantor either (11 pays the tax before it becomes delinquent, or (2) contests the tax as
<br /> provided above In the Taxes and Liens section and deposits with LaMar cash or a sufficient corporate surety bond or other
<br /> security satisfadnry to LaMar.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Dead of Trust as a security agreement
<br /> are a pan of this Deed of Trust:
<br /> Security Agreement. This Instrument shall constitute a Security Agreement to the extent any of the Property constitutor fixtures,
<br /> and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
<br /> Security Interact. Upon request by LaMar, Grantor shall take whatever action is requested by Lender to perfect and continue
<br /> Lender's security interest In the Personal Property. In addition to recording this Deed of Trust in the real property records,LaMar
<br /> may,at any time and without further euMorustion from Grantor,file executed counterpane,copim or reproductions of this Deed
<br /> of Trust as a financing statement. Grantor shall reimburse LaMar for all expenses incurred in Perfecting or continuing this
<br /> security interest. Upon default,Grantor shall not remove,sever or detach the Personal Property from the Property. Upon default,
<br /> Grantor shall assemble any Personal Property rot allixed to the Property in a manner and st a place reasonably convenient to
<br /> Grantor and Lender and make it available to Lender within three IN days after receipt of written demand from LaMar to the
<br /> axiom permitted by applicable law.
<br /> Addresses. The mailing addresses of Grantor(debtor)and Lender isecured Pony)from which information concerning the security
<br /> interest granted by this Geed of Trust may he obtained(each as required by the Uniform Commercial Code)are as crated on fie
<br /> first page of this Dead of Trust.
<br /> FURTHER ASSURANCES;ATTORNEY-IN-FACT. The following provisions relating to further assurances and anormy-in,fact are a Pan
<br /> of this Dead of Trust
<br /> Further Assurances. At any time,and from time to time,upon request of Lander,Grantor will make,execute end deliver,or will
<br /> cause to be made,executed or delivered,to LaMar or to Lender's designee,and when requested by Lender,cause to be filed
<br /> retarded refiled, or rerecorded. as the cam may he, at such times and in such offices and plecee as LaMar may deem
<br /> appropriate,any and all such mortgages,deeds of trust,security deeds,security agreements,financing statements,continuation
<br /> statements, Instruments of further assurance, certificates, and other documents as may, In the sole opinion of Lander, ba
<br /> necessary or desirable In order to streamers,complete,perfect,continue,or preserve 11) Grantor's obligations under the Note,
<br /> this Deed of Trust,and the Related Documents,and (2) the Ions and security interests created by thus Deed of Trust as first
<br /> and prior liens on the Property,whether now owned or hereafter acquired by Grantor. Unless prohibited by low or LaMar agrees
<br /> to the company In writing, Grantor shall reimburse Lender for all costs end expenses incurred In connection with the miters
<br /> referred to in this paragraph.
<br /> ANartey-in-Fact. If Grantor falls to do any of the things stared to in the preceding paragraph,Lender may do se for and in the
<br /> name of Grantor end tt Grantor's expense. For such purposes, Grantor hereby irrevocably appoints LeMer as Grantor's
<br /> attorney-in-tact for the purpose of making,executing,delivering,filing,recording,and doing all other things as may be necessary
<br /> or desrable,In Lender's sole opinion,to accomplish the matters referred to In the preceding paragraph.
<br /> FULL PERFORMANCE. Upon the full performance of all the obligations under the Note and this Deed of Trust,Trustee may, upon
<br /> production of documents and fees as required under applicable low,release this Dead of Trust, and such release shall constitute a
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