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virtue of any act of the United States Congress, now existing or which may hereafter be passed in relation thereto and that the
<br /> same is free 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 claiming or to claim
<br /> 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 on the Property;
<br /> any and all amounts due on account of principal and interest or other sums on any senior encumbrances,if any; and will keep the
<br /> Property insured in accordance with the requirements of the Contract. Should the GRANTOR fail to insure the Property in accordance
<br /> with the Contract or to pay taxes or assessments as the same fall due,or to pay any amounts payable upon senior encumbrances,
<br /> if any, the beneficiary may make any such payments or procure any such insurance, and all monies so paid with interest thereon
<br /> at the rate of ten percent(10%)per annum shall be added to and become a part of the indebtedness secured by this Deed of Trust
<br /> and may be paid out of the proceeds of the sale of the Property if not paid by the GRANTOR. In addition, and at its option, the
<br /> beneficiary may declare the indebtedness secured hereby and this Deed of Trust to be in default for failure to procure insurance
<br /> or make any further payments required by this paragraph.
<br /> AND THAT IN CASE OF ANY DEFAULT,whereby the right of foreclosure occurs hereunder,the PUBLIC TRUSTEE,the State
<br /> as holder of the note,or the holder of a certificate of purchase,shall at once become entitled to the possession,use and enjoyment
<br /> of the Property aforesaid, and to the rents, issues and profits thereof,from the accruing of such right and during the pendency of
<br /> foreclosure proceedings and the period of redemption,if any there be: and such possession shall at once be delivered to the PUBLIC
<br /> TRUSTEE,the State as holder of the note,or the holder of said certificate of purchase on request and on refusal, the delivery of the
<br /> Property may be 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 purchase,or any thereof,
<br /> shall be entitled to a Receiver for said Property,and of the rents,issues and profits thereof, after such default, including the time
<br /> covered by foreclosure proceedings and the period of redemption,if any there be,and shall be entitled thereto as a matter of right
<br /> without regard to the solvency or insolvency of the GRANTOR or of the then owner of said Property and without regard to the value
<br /> thereof,and such Receiver may be appointed by any court of competent jurisdiction upon ex parte application and without notice-
<br /> notice being hereby expressly waived-and all rents, issues and profits, income and revenue therefrom shall be applied by such
<br /> Receiver to the payment of the indebtedness hereby secured, according to the law and the 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 of said
<br /> promissory note or any part thereof,or of a breach or violation of any of the covenants or agreements contained herein and in the
<br /> Contract, by the GRANTOR, its successors or assigns, then and in that case the whole of said principal sum hereby secured, and
<br /> the interest thereon to the time of the sale, may at once,at the option of the legal holder thereof, become due and payable, and
<br /> the said Property be sold in the manner and with the same effect as if said indebtedness had matured, and that if foreclosure be
<br /> made by the PUBLIC TRUSTEE,an attorney's fee in a reasonable amount for services in the supervision of said foreclosure proceedings
<br /> shall be allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a
<br /> reasonable attorney's fee shall be assessed by the court as a part of the cost of such foreclosure proceedings.
<br /> IT IS FURTHER UNDERSTOOD AND AGREED,that if a release of this Deed of Trust is required,the GRANTOR will pay the
<br /> expense thereof;that all the covenants and agreements contained herein and in the Contract shall extend to and be binding upon
<br /> the successors and assigns of the respective parties hereto; and that the singular number shall include the plural, the plural the
<br /> singular, and the use of any gender shall be applicable to all genders.
<br /> Executed this ). R t day of January 1996. �
<br /> ----. 0
<br /> By: ✓ - r, i 1,
<br /> Mayor •\ > >O •• t ! +
<br /> ATTEST '
<br /> By: 40
<br /> /
<br /> • n Clerk', - •', t
<br /> {
<br /> ,j
<br /> State of Colorado II.
<br /> County of S S Y ;,,,Vy
<br /> The foregoin i strument was ac owledge before this 1.
<br /> day of January, 1996, by`' "4-'' 71 "`"`OM
<br /> F � �Q 1 OL(�o . Witness my hand and official seal.
<br /> JUUU
<br /> Notary Public
<br /> My commission expires _=Y fjli t‘\
<br /> JAN S ',S
<br /> fll4�� 6371
<br /> �
<br /> \\ CFCO"— s
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