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1901822 TD 03/15/2012 02:07:58 PM
<br /> Page: 20 3 R 21. 0.00 .00
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<br /> Gilbert rtiz of Clerk/Recorder00 D , Pue1311 o 21 County, Co
<br /> IIIIinPGA,14,1I4i !M'I*1 lit NI MAR NM 11111
<br /> This indenture is between the Grantor, and the Public Trustee of the above referenced
<br /> COUNTY, State of Colorado("PUBLIC TRUSTEE"),
<br /> FACTUAL RECITALS
<br /> 5. The GRANTOR has executed a Promissory Note of even date and amount, set forth in the LOAN
<br /> CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICIARY, With
<br /> TERMS OF REPAYMENT and in accordance with the Promissory Note or until loan is paid in full.
<br /> 6. The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and interest of
<br /> said Promissory Note to the BENEFICIARY.
<br /> The GRANTOR, in consideration of the premises and for the purpose aforesaid, does hereby
<br /> grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust forever, the above described
<br /> COLLATERAL.
<br /> To have and to hold the same, together with all appurtenances, in trust nevertheless, that
<br /> in case of default in the payment of said Promissory Note, or any part thereof, or the interest
<br /> thereon, or in the performance of any covenants hereinafter set forth or in said Promissory Note or
<br /> LOAN CONTRACT, then upon the BENEFICIARY filing notice of election and demand for sale, said
<br /> PUBLIC TRUSTEE, after advertising notice of said sale weekly for not less than four weeks in some
<br /> newspaper of general circulation in said COUNTY, shall sell said COLLATERAL in the manner provided
<br /> by law in effect at the time of filing said notice and demand, at public auction for cash, at any proper
<br /> place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall
<br /> retain or 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
<br /> a deed to the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part
<br /> thereof at such sale.
<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 /> Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and
<br /> assessments ievied on the COLLATERAL; any and aii amounts due on account of the principai 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 /> 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 /> Appendix 7 to Loan Contract C150328A
<br /> Page 2 of 3
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