C153618 PIF Contract

• Contract/PO #: C153618
• Contractor Name: Greeley, City of
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Contract Documents

2426556 B -1480 P -101 02/14/95 03:45P PG 2 OF 3
TO HAVE AND TO HOLD the same together with all appurtenances,
in trust nevertheless, that in case of default in the payment
of said note or any part thereof or interest thereon, or in the
performance of any covenants hereinafter set forth, then upon
the beneficiary (note holder) filing notice of election and
demand for sale, said Public Trustee, after advertising notice
of said sale weekly, for not less than four weeks, in some
newspaper of general circulation in said county, shall sell
said property in the manner provided by law in effect at the
time of filing said notice and demand, at public auction for
cash, at any proper place designated in the notice of sale.
Out of the proceeds of said sale said Trustee shall retain or
pay first all fees, charges and costs and all moneys advanced
for taxes, insurance and assessments, or on any prior
encumbrance, with interest thereon, and pay the principal and
interest due on said note, rendering the overplus (if any) unto
the grantor; and after the expiration of the time of
redemption, said Trustee shall execute and deliver to the
purchaser a deed to the property sold. The beneficiary may
purchase said property or any part thereof at such sale.
The grantor covenants that at the time of delivery of
these presents, he is seized of said property in fee simple,
and that said property is free of encumbrances. Should the
beneficiary hereunder be made a party to any action affecting
this deed of trust or the title to said property, the grantor
agrees that all court costs and a reasonable attorney's fee
paid by the beneficiary shall become additional indebtedness
due hereunder.
It is agreed that in case of default in payment of said
principal or interest or a breach of any of the covenants
herein, then said principal sum hereby secured and interest
thereon may be at the option of the beneficiary become due and
payable at once, anything in said note to the contrary
notwithstanding and possession of said property will thereupon
be delivered to the beneficiary.
Whenever used herein the singular number shall include the
plural, the plural the singular, and the use of any gender
shall be applicable to all genders. All of the covenants
herein shall be binding upon the respective heirs, personal
representatives, successors and assigns of the parties hereto.
Executed the day and year first above written.
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