|
<br />)
<br />
<br />~
<br />
<br />thereof; and in case of an assignment of such certificate of purchase, or in case of the redemption of the
<br />Praperty, by a subsequent encumbrancer, such assignment .or redempti.on shall also be referred ta 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 ather persans claiming the Property, or any part
<br />thereof, by, from, through or under the GRANTOR, or any of them. The halder 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 ofthe 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, und.er and by vir\lIe 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 />possessian 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 an account of principal and interest or other sums on any senior
<br />encumbrances, if any; and will keep the Property insured in accardance with the requirements of the .Contract.
<br />Shauld the GRANTOR fail ta insure the propertyln accordance with the Contract or to pay taxes or assessments
<br />as the same fall due, or to pay any amaunts payable upon seniar encumbrances, if any, the beneficiary may
<br />make any such payments or procure any such insurance, and all monies so paid with interest therean at the rate
<br />.often percent (10%) per annum shall be added to and beconie 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 halder 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 !he 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 apprapriate c::jvil suit or proceeding, and the PUBLIC TRUSTEE, or the halder of said note .or certificate of
<br />purchase, or any thereof, shall be entitled to a Receiver for said Property, anp 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'lnd 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 representativesgr assigns.. then "and in that
<br />
<br />. 1111111111111111111111111111111111111111111111111111111
<br />. 209766 06/13/1997 02:28P B349 P531
<br />201 4 R 21.00 D 0.00 ROY D. MARTINEZ, COSTILLA
<br />
|