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thereof; and in case of an assignment of such certificate of purchase, or in case of the redemption of the
<br /> Property, by a subsequent encumbrancer, such assignment or redemption shall also be referred to in such
<br /> deed; but the notice of sale need not be set out in such deed and the PUBLIC TRUSTEE shall, out of the proceeds
<br /> or avails of such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the
<br /> beneficiary hereunder the principal and interest due on said note according to the tenor and effect thereof, and
<br /> all moneys advanced by such beneficiary or legal holder of said note for insurance, taxes and assessments,with
<br /> interest thereon at ten per cent per annum, rendering the surplus, if any, unto the GRANTOR, its legal
<br /> representatives or assigns; which sale and said deed so made shall be a perpetual bar, both in law and equity,
<br /> against the GRANTOR, its successors and assigns, and all other persons claiming the Property, or any part
<br /> thereof, by, from, through or under the GRANTOR, or any of them. The holder of said note may purchase
<br /> Property or any part thereof; and it shall not be obligatory upon the purchaser at any such sale to see to the
<br /> application of the purchase money.
<br /> And the GRANTOR, for itself and its successors or assigns covenants and agrees to and with the PUBLIC
<br /> TRUSTEE, that at the time of the unsealing of and delivery of these presents it is well seized of the Property in fee
<br /> simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in the
<br /> manner and form as aforesaid; hereby fully and absolutely waiving and releasing all rights and claims it may
<br /> have in or to said Property as a Homestead Exemption, or other exemption, under and by virtue of any act of the
<br /> General Assembly of the State of Colorado, or as any exemption under and by virtue of any act of the United
<br /> States Congress, now existing or which may hereafter be passed in relation thereto and that the same is free
<br /> and clear of all liens and encumbrances whatever, and the above bargained Property in the quiet and peaceable
<br /> possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons lawfully
<br /> claiming or to claim the whole or any part thereof, the GRANTOR shall and will Warrant and Forever Defend.
<br /> Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments levied
<br /> on the Property; any and all amounts due on account of principal and interest or other sums on any senior
<br /> encumbrances, if any; and will keep the Property insured in accordance with the requirements of the Contract.
<br /> Should the GRANTOR fail to insure the Property in accordance with the Contract or to pay taxes or assessments
<br /> as the same fall due, or to pay any amounts payable upon senior encumbrances, if any, the beneficiary may
<br /> make any such payments or procure any such insurance, and all monies so paid with interest thereon at the rate
<br /> of ten percent (10%) per annum shall be added to and become a part of the indebtedness secured by this Deed
<br /> of Trust and may be paid out of the proceeds of the sale of the Property if not paid by the GRANTOR. In addition,
<br /> and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust to be in
<br /> default for failure to procure insurance or make any further payments required by this paragraph. In the event of
<br /> the sale or transfer of the Property by the GRANTOR, the beneficiary, at its option, may declare the entire balance
<br /> of the note immediately due and payable.
<br /> And that in case of any default, whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE, the
<br /> State as holder of the note, or the holder of a certificate of purchase, shall at once become entitled to the
<br /> possession, use and enjoyment of the Property aforesaid, and to the rents, issues and profits thereof, from the
<br /> accruing of such right and during the pendency of foreclosure proceedings and the period of redemption, if any
<br /> there be, and such possession shall at once be delivered to the PUBLIC TRUSTEE, the State as holder of the note,
<br /> or the holder of said certificate of purchase on request and on refusal, the delivery of the Property may be
<br /> enforced by the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase by
<br /> an appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or certificate of
<br /> purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits
<br /> thereof, after such default, including the time covered by foreclosure proceedings and the period of redemption,
<br /> if any there be, and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of
<br /> the GRANTOR or of the then owner of said Property and without regard to the value thereof, and such Receiver
<br /> may be appointed by any court of competent jurisdiction upon ex parte application and without notice - notice
<br /> being hereby expressly waived - and all rents, issues and profits, income and revenue therefrom shall be
<br /> applied by such Receiver to the payment of the indebtedness hereby secured, according to the law and the
<br /> orders and directions of the court.
<br /> And, that in case of default in any of said payments of principal or interest, according to the tenor and effect
<br /> of said promissory note or any part thereof, or of a breach or violation of any of the covenants or agreements
<br /> contained herein and in the Contract, by the GRANTOR, its personal representatives or assigns. then and in that
<br /> I II VIII 1111111111111111111111 III 1111111 III 111111111 LIII
<br /> 209766 06/13/1997 02:28P B349 P531
<br /> 2 of 4 R 21.00 D 0.00 ROY D. MARTINEZ, COSTILLA
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