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<br />494203
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<br />B-981 P-260 06/10/96 02:29P PG 2
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<br />OF 2
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<br />beneficiary as further security for the indebtedness. Each policy shall contain a loss payabl.e ~clause naming the beneficiary as mortgagee
<br />and shall further provide that the insurance may not be canceled upon less than ten days written notice to the beneficiary. At the option
<br />of the beneficiary, the original policy or policies of insurance shall be delivered to the beneficiary as further security for the indebtedness.
<br />Should the GRANTOR fail to insure and deliver the policies or to pay taxeS or assessments as the same fall due, or to pay' any amounts payable
<br />upon senior encumbrances, if any, the beneficiary may make any such payments or procure any such insurance, and all monies so paid with
<br />interest thereon at the rate of ten percent (10%) per annum shall be added to an 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, 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 or make
<br />any further payments reQuired by this paragraph.
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<br />AND THAT IN CASE OF ANY DEFAULT, whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE or the holder of
<br />said note or certificate of purchase, shall at once become entitled to the possession, use and enjoyment of the property aforesaid, and to
<br />the rents, issues and profits thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period of
<br />redemption, if any there be: and such possession shall at once be delivered to the PUBLIC TRUSTEE or the holder of said note or certificate
<br />of purchase on request and on refusal, the delivery of such possession may be enforced by the PUBLIC TRUSTEE or the holder of said note
<br />or certificate of purchase by 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 thereof, atter such default,
<br />including the time covered by foreclosure proceedings and the period of redemption, if any there be, and shall be entitled thereto as a matter
<br />of right 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 - notice
<br />being hereby expressly waived - and all rents, issues and profits, income and revenue therefrom shall be applied by such Receiver to the
<br />payment of the indebtedness hereby secured, according to the law arad the orders and directions of the court.
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<br />AND, that in case of default in any of said payments or principal or interest, according to the tenor and effect of said promissory
<br />note aforesaid, or any of them, or any part thereof, or of a breach or violation of any of the covenants or agreements herein, by the GRANTOR,
<br />its personal representatives or assigns, then and in that case the whole of said principal sum hereby secured, and the interest thereon to
<br />the time of the sale, may at once, at the option of the legal holder thoreof, become due and payable, and the said property be sold in the
<br />manner and with the same effect as if said indebtedness had matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's
<br />fee in a reasonable amount for services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part
<br />of the cost of foreclosure, and if foreclosure be made through the courts a reasonable attorney's fee shall be taxed by the court as a part
<br />of the cost of such foreclosure proceedings.
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<br />IT IS FURTHER UNDERSTOOD AND AGREED, that if a release of this Deed of Trust is required, the GRANTOR will pay the expense
<br />thereof; that all the covenants and agreements herein contained shall extend to and be binding upon the heirs, personal representatives,
<br />successors and assigns of the respective parties hereto; and that the singular number shall include the plural, the plural the singular, and
<br />the use of any gender shall be applicable to all genders.
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<br />
<br />aid( MI
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<br />()1/--/4,.) 5]'.17-9S-
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<br />(SEAL)
<br />
<br />State of Colorado
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<br />Th. iv,egoing instrument was acknowledged before me this I q-r/fday of .,4 U:1 u sf _,':'<:'~99;S:~ """:'~:'.
<br />
<br />Jo ~ L, (1,1. ste<:./... (1IAJ To 1M pO; IJ d),: . wiries~';';Y.hi"d-;;Pd s~ai'
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<br />Nota ubhc ,
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<br />County of
<br />
<br />My Mfe~mi~[Il~xplf~
<br />on 07/17/95
<br />
<br />No.
<br />
<br />DEED OF TRUST FROM
<br />
<br />TO THE PUBLIC TRUSTEE
<br />
<br />State of Colorado
<br />County of
<br />
<br />} SS
<br />
<br />I hereby certify that this instrument was filed for record in my office at o'clock _.M..
<br />19_, and is duly recorded in book . page Film No. _ Reception No._.
<br />
<br />Clerk and Recorder
<br />
<br />Deputy
<br />
<br />Fees, $
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