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<br />Property; any and all amounts due on account of principal and interest or other sums on any senior encumbrances, if any;
<br />and will keep the Property insured in accordance with the requirements of the Contract. Should the GRANTOR fail to insure
<br />the Property in accordance with the Contract or to pay taxes or assessments as the same fall due, or to pay any amounts
<br />payable upon senior encumbrances, if any, th-e beneficiary may make any such payments or procure any such insurance,
<br />and all monies so paid with interest thereon at the rate of ten percent (10%) per annum shall be added to and become a
<br />part of the indebtedness secured by this Deed of Trust and may be paid out of the proceeds of the sale of the Property if
<br />not paid by the GRANTOR. In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and
<br />this Deed of Trust to be in default for failure to procure insurance or make any further payments required by this paragraph.
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<br />And that in case of any default. whereby the right of foreclosure occurs hereunder, the
<br />PUBLIC TRUSTEE, the State as holder of the note, or the holder of a certificate of purchase, shall at once become entitled to
<br />the possession, use and enjoyment of the Property aforesaid, and to the rents, issues and profits thereof, from the accruing
<br />of such right and during the pendency of foreclosure proceedings and the period of redemption, if any there be, and such
<br />possession shall at once be delivered to the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said
<br />certificate of purchase on request and on refusal, ~e delivery of the Property may be enforced by the PUBLIC TRUSTEE, the
<br />State as holder of the note, or the holder of said certificate of purchase by an appropriate civil suit or proceeding, and the
<br />PUBLIC TRUSTEE, or the holder of said note or certificate of purchase, or any thereof, shall be entitled to a Receiver for said
<br />Property, and of the rents, issues and profits thereof, after such default, including the time covered by foreclosure
<br />proceedings and the period of redemption, if any there be, and shall be entitled thereto as a matter of right without regard
<br />to the solvency or insolvency of the GRANTOR or of the then owner of said Property and without regard to the value thereof,
<br />and such Receiver may be appointed by any court of competent jurisdiction upon ex parte application and without notice -
<br />notice being hereby expressly waived - and all rents, issues and profits, income and revenue therefrom shall be applied by
<br />such Receiver to the payment of the indebtedness hereby secured, according to the law and the orders and directions of
<br />the court,
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<br />And, that in case of default in any of said payments of principal or interest, according to the tenor and effe~t of
<br />said promissory note or any part thereof, or of a breach or violation of any of the covenants or agreements contained
<br />herein and in the Contract, by the GRANTOR, its personal representatives or assigns, then and in that case the whole of said
<br />principal sum hereby secured, and the interest thereon to the time of the sale, may at once, at the option of the legal holder
<br />thereof, become due and payable, and the said Property be sold in the manner and with the same effect as if said
<br />indebtedness had matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attomey's fee in a reasonable
<br />amount for services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of
<br />the cost of foreclosure, and if foreclosure be made through the courts a reasonable attomey's fee shall be taxed by the
<br />court as a part of the cost of such foreclosure proceedings.
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<br />It is further understood and agreed, that if a release or a partial release of this Deed.of
<br />Trust is required; the GRANTOR, its successors or assigns wiii payche expense thereof, that aii the covenants ~nd
<br />agreements contained herein and in the Contract shall extend to and be binding upon the heirs or assigns of the respective
<br />parties hereto; and that the singular number shall include the plural, the plural the singular, and the use of any gender shall
<br />be applicable to all genders.
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<br />By
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<br />Executed the day and date first written above.
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<br />(SEAL)
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<br />State of Colorado
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<br />County of
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<br />The foregoing instrument was acknowledged before me this _ day of
<br />William J. Grasmick. Witness my hand and official seal.
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<br />1997, by
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<br />Notary Public
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<br />My commission expires
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