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201400273
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Last modified
8/19/2014 2:25:20 PM
Creation date
1/15/2014 4:01:28 PM
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DEEDS
Inst Number
201400273
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It in good faith and reasonably believed by it to be authorized or within the discretion or rights of powers <br />conferred upon it by this Trust Deed or state law. <br />12. The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the obligations <br />secured hereby. Should Trustor(s) sell, transfer, or convey the property described herein, without prior <br />written consent of Beneficiary, Beneficiary, at its option, may declare the entire indebtedness immediately <br />due and payable and may proceed in the enforcement of its rights as on any other default. <br />13. That Trustor(s) is, and shall continue to be, duly organized, validly existing and legally qualified to do <br />business under the laws of the states in which Trustor(s) operates, in compliance with federal, state and <br />local laws or regulations, and has legal authority in such states to conduct Trustor(s) business operations <br />and to own agricultural real estate. No change has been made in the name, ownership, control, <br />relationship, legal status or organizational and formation documents of any undersigned Trustor(s) since <br />the time any such information was last provided to Beneficiary. <br />14. That if Trustor(s), or anyone signing this Trust Deed, is a limited liability company, that those signing <br />on behalf of said limited liability company constitute a majority of the managers or members thereof, and <br />that the execution of this Trust Deed is in the ordinary course of the limited liability company's business <br />and has been authorized by its members, <br />15. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers, <br />and conveys to Beneficiary all rents, royalties, bonuses, and delay moneys or other proceeds that may <br />from time to time become due and payable under any real estate lease or under any oil, gas, gravel, rock, <br />or other mineral lease of any kind including geothermal resources now existing or that may hereafter <br />come into existence, covering the property or any part thereof. All such sums so received by Beneficiary <br />will be applied to the indebtedness secured hereby; or Beneficiary, at its option, may turn over and deliver <br />to Trustor(s) or their successors in interest, any or all of such sums without prejudice to any of <br />Beneficiarys rights to take and retain future sums, and without prejudice to any of its other rights under <br />this Trust Deed. This assignment will be construed to be a provision for the payment or reduction of the <br />debt, subject to the Beneficiarys option as hereinbefore provided, independent of the lien on the property. <br />Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this assignment will <br />become inoperative and of no further force and effect. <br />16. This Trust Deed constitutes a Security Agreement with respect to all the property described herein. <br />17. The covenants contained in this Trust Deed will be deemed to be severable; in the event that any <br />portion of this Trust Deed is determined to be void or unenforceable, that determination will not affect the <br />validity of the remaining portions of the Trust Deed. <br />STATE OF CO <br />COUNTY OF Garfield <br />On this %b day of January. 2014 before me, a Notary Public, personally appeared Bryan Walter <br />Whiting Trustee(s) for W. Lyle Whiting Revocable Living Trust UTA dated November 13. 1992 to me <br />known to be the person(s) named In and who executed the foregoing instrument, and acknowledged that <br />ary act and deed as such Trustee(s) for the purposes therein <br />m enaaraINNIFER MOSER <br />NOTARY PUBLIC <br />(SEAI$TATE OF COLORADO <br />NOTARY ID #20074005268 <br />My Commission Expires February 5, 2015 <br />My commission expires <br />) <br />) ss <br />201400273 <br />otary Public in and for said County and State <br />
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