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<br />6700!am~12112rlJfJ!10:"1"0A.. B1!81'n4.DT" <br />2 of 4 R 21.00 D 0.00 N 0.00 Logan County CO <br /> <br />designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall retain or <br />pay first all fees, charges and costs and all moneys advanced for taxes, insurance and <br />assessments, or on any prior encumbrance, with interest thereon and pay the principal and interest <br />due on said Promissory Note, rendering the overplus, if any, unto the GRANTOR; and after the <br />expiration of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a <br />deed to the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part thereof <br />at such sale. <br /> <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 /> <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 /> <br />In case of default in any of said payments of the principal or interest, according to the terms <br />of 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 once, at the 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 />attorney'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 /> <br />It is further understood and agreed, that if a release or a partial release of this Deed of Trust <br />is required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the <br />covenants and agreements contained herein and in the Promissory Note and LOAN CONTRACT shall <br />extend to and be binding upon the successors or assigns of the respective parties hereto; and that <br />the singular number shall include the plural, the plural the singular, and the use of any gender shall <br />be applicable to all genders. <br /> <br />Page 2 of 3 <br />