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617211 12/23/2002 03:�9P 81420 P31 M ALSDORF
<br />2 of 4 R 21.00 D 0.00 GARFIELD COUNTY CO
<br />forth or in said Promissory Note or Loa,rv CoNTRa,cT, then upon the BErvEFiciaRY filing
<br />notice of election and demand for sale SaICI PUBLIC TRUSTEE after advertising notice of
<br />said sale weekiy for not less than four weeks in some newspaper of general circulation in
<br />said CouNN, shall sell said Cou.aTEFta� in the manner provided by law in effect at the
<br />time of filing said notice and demand, at public auction for cash, at any proper place
<br />designated in the notice of sale. Out of the proceeds of said sale th2 PUBLIC TRUSTEE
<br />shall retain or pay first all fees, charges and costs and all moneys advanced for taxes,
<br />insurance and assessments, or on any prior encumbrance, with interest thereon and pay
<br />the principal and interest due on said Promissory Note, rendering the overplus, if any,
<br />unto the GRarvTOR; and after the expiration of the time of redemption, the PuBUc
<br />TRUSrEE shall execute and deliver to the purchaser a deed to the Co��aTERa� sold. The
<br />BErvEF�ciaRY may purchase said Co��aTERa� or any part thereof at such sale.
<br />The G�NTOR covenants that at the time of the delivery of these presents, it is
<br />well seized of the Co��TERa,� in fee simple, and has full power and lawful authority to
<br />grant, bargain, sell and convey the same in the manner and form as aforesaid. The
<br />GRANTOR fully waives and releases all rights and claims it may have in or to said
<br />Co��,TERa� as a Homestead Exemption or other exemption, now or hereafter provided
<br />by law. The GRatvTOR further covenants that the collateral is free and clear of all liens
<br />and encumbrances whatever and that the GFZaNTOR shall warrant and forever defend the
<br />COLLATERAL in the quiet and peaceable possession of the Puauc TRUSTEE its
<br />successors and assigns, against all and every person or persons lawfully claiming or to
<br />claim the whole or any part thereof.
<br />Until payment in full of the indebtedness, the GRarvTOR shall timely pay all taxes
<br />and assessments levied on the Co��arERa,�; any and all amounts due on account of the
<br />principal and interest or other sums on any senior encumbrances, if any; and will keep
<br />the Co��aTE�a,� insured in accordance with the requirements of the LoaN CoNT�cT. In
<br />the event of the sale or transfer of the Co�t.�,TE�,� the BENEFICIARY at its option, may
<br />declare the entire balance of the note immediately due and payable.
<br />In case of default in any of said payments of the principal or interest, according to
<br />the terms of said Promissory Note or LoaN CoNTwacT, by the GRa,rvTOR, its successors or
<br />assigns, then said principal sum hereby secured, and interest thereon, may at once, at
<br />the OptIOCI Of the BENEFICIARY become due and payable, and the said Co��a,rEwo,� be
<br />sold in the manner and with the same effect as if said indebtedness had matured, and
<br />that if foreclosure be made by the PuBUC TRUSrEE, an attorney's fee in a reasonable
<br />amount for services in the supervision of said foreclosure proceedings shall be allowed
<br />by fhe PuB��c TRUSrEE as a part of the cost of foreclosure, and if foreclosure be made
<br />through the courts a reasonable attorney's fee shali be taxed by the court as a part of the
<br />cost of such foreclosure proceedings.
<br />It is further understood and agreed, that if a release or a partial release of this
<br />Deed of Trust is required, the Gr�atvTOR, its successors or assigns will pay the expense
<br />thereof; that all the covenants and agreements contained herein and in the Promissory
<br />Note and Loatv CoNTRacr shall extend to and be binding upon the successors or assigns
<br />of the respective parties hereto; and that the singular number shall include the plural, the
<br />plural the singular, and the use of any gender shall be applicable to all genders.
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