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<br />4/6f10 2:47 PM B: 419 P: 0397
<br />Dolores Burns Costilla County Recorder Page 2 of 3
<br />DT Rec Fee: 16.00 DocFee: $0.00
<br />���� �� �1�1�1����1���'�I'� � � �'��� ��� �"� �� �� �
<br />This indenture is beivveen the Gran#or, and the Public Trustee of the above referenced
<br />Counmr, State of Colorado ( `PUBUC TRUSTEE"
<br />FACTUAL RECITALS
<br />1. The GRaNTOR has executed a Promissory Note of even date and amount, set forlfi in #he
<br />LOAN CONTRACT, f01" a IOatl In th@ PRINCIPAL LOAId AMOUNT t0 � f�ald �O tIt@ SEIdEFIC1ARY,
<br />with TERnns oF REPAYnnENr and in accordance with the Promissory Note or until loan is paid
<br />in full.
<br />2. The Gr�nnrroR is desirous of securing payment of the PRiNCiPa� LonN AMOUi+�r and interest of
<br />said Promissory Note to the BENEF�ciARY.
<br />The GRaniroR, in consideration of the premises and for the purpose aforesaid, does
<br />hereby grant, bargain, sell and convey unto the said PuBUC TRUSrEE in trust forever, the above
<br />described Co�u�rERn�.
<br />To have and to hold the same, together with all appurtenances, in trust nevertheless,
<br />that in case of default in the payment of said Prpmissory Note, or any part thereof, or the
<br />interest thereon, or in the performance of any covenants hereinafter set fwth or in said
<br />Promissory Note or LonN Co�cT, then upon the B�NEFiciat�Y filing notioe o# election and
<br />demand for sale Sald PUBLIC TRUSTEE after advertising notice of said sale weekly for not less
<br />than four weeks in some newspaper of general circulation in said CouN�nr, shall sell said
<br />Co�u�rERn� in the manner provided by law in effect at the time of filing said nofice and demand,
<br />at public auction for cash, at any proper place designated in the notice of sale. Out of the
<br />proceeds of said sale, the PuBUC TRUSTEE shall retain or pay first all fees, charges and costs
<br />and all moneys advanced for taxes, insurance and assessments, or on any prior encumbrance,
<br />with interest thereon and pay the principal and interest due on said Promissory Note, rendering
<br />the overplus, if any, unto the Gwa�vroR; and after the expiration of the time of redemption, the
<br />PuBUC TRUSTEE shall execute and deliver to the purchaser a deed to the Co�wTEt�� sold. The
<br />BeNEFici,aRY may purchase said Cou.ArERn� or any part thereof at such sale.
<br />The Gw4NroR covenants that at the time of the delivery o# these presents, it is well
<br />seized of the Co�wr�Ra� in fee simple, and has #ull power and lawfui authority to grant,
<br />bargain, sell and convey the same in the manner and form as aforesaid. The GRnNTOR fully
<br />waives and releases alt rights and claims it may have in or to said Co�wTEw�� as a Homestead
<br />Exemption or other exemption, now or hereafter provided by law. The G�ort further
<br />covenants that the collateral is free and clear of all liens and encumbrances whatever and that
<br />the GRani'roR shall warrant and foreve� defend the Co�wrEFta� in the c�u�et and peaceable
<br />possession of the Puauc Trtus�E, its successors and assigns, against atl a�+d eve� �or
<br />persons lawfully claiming or to claim the whole or any part thereof.
<br />Until payment in full of the indebtedness, the GtzanrroR shall timely pay all taxes and
<br />assessments levied on the Co�u�►TEw��; any and all amounts due on account of the principat
<br />and interest or other sums on any senior encumbrances, if any; and will keep the Coun�w� -
<br />insured in accordanoe with the requirements of the LonN CoKrRacT. In the even# of the sale or
<br />tr�nsfer of the Co��aTEwv. th@ BEIVEFICIARY at its option, may declare the entire balance of the
<br />note immediately due and payable.
<br />In case of default in any of said payments of the principaf or interest, according to the
<br />terms of said Promissory Note or Lo�vv CoNrRacT, by the Gw�nrroR, its successors or assigns,
<br />then said principal sum hereby secured, and interest thereon, may at once, at the option of the
<br />BENEFICIARY become due and payable, and the said Co��a�rta� be sotd in the manner and
<br />Appendix 5 to Loan Contract C150303
<br />Page 2 of 3
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