|
<br />This indenture is between the GRANTOR, and the Public Trustee of the above
<br />referenced COUNTY, State of Colorado ("PUBLIC TRUSTEE"),
<br />
<br />The GRANTOR has executed a Promissory Note of even date and amount, set forth in ,?/
<br />the LOAN CONTRACT, for a loan in the PRINCIPAL LOAN AMOUNT to be repaid to the
<br />BENEFICIARY, with terms as shown above and in accordance with the Promissory Note
<br />or until loan is paid in full.
<br />
<br />The GRANTOR is desirous of securing payment of the PRINCIPAL LOAN AMOUNT and
<br />interest of said Promissory Note to the BENEFICIARY,
<br />
<br />The GRANTOR, in consideration of the premises and for the purpose aforesaid,
<br />does hereby grant, bargain, sell and convey unto the said PUBLIC TRUSTEE in trust
<br />forever, the above described COLLATERAL.
<br />
<br />To have and to hold the same, together with all appurtenances, in trust
<br />nevertheless, that in case of default in the payment of said Promissory Note, or any
<br />part thereof, or the interest thereon, or in the performance of any covenants hereinafter
<br />set forth or in said Promissory Note or LOAN CONTRACT, then upon the BENEFICIARY
<br />filing notice of election and demand for sale, said PUBLIC TRUSTEE, after advertising
<br />notice of said sale weekly for not less than four weeks in some newspaper of general
<br />circulation in said COUNTY, shall sell said COLLATERAL in the manner provided by law in
<br />effect at the time of filing said notice and demand, at public auction for cash, at any
<br />proper place designated in the notice of sale. Out of the proceeds of said sale, the
<br />PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys
<br />advanced for taxes, insurance and assessments, or on any prior encumbrance, with
<br />interest thereon and pay the principal and interest due on said Promissory Note,
<br />rendering the overplus, if any, unto the GRANTOR; and after the expiration of the time of
<br />redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a deed to
<br />the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part
<br />thereof at such sale,
<br />
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is
<br />well seized of the COLLATERAL in fee simple, and has full power and lawful authority to
<br />grant, bargain, sell and convey the same in the manner and form as aforesaid, The
<br />GRANTOR fully waives and releases all rights and claims it may have in or to said
<br />COLLATERAL as a Homestead Exemption or other exemption, now or hereafter provided
<br />by law, The GRANTOR further covenants that the collateral is free and clear of all liens
<br />and encumbrances whatever and that the GRANTOR shall warrant and forever defend
<br />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
<br />claim the whole or any part thereof.
<br />
<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes
<br />and assessments levied on the COLLATERAL; any and all amounts due on account of the
<br />principal and interest or other sums on any senior encumbrances, if any; and will keep
<br />the COLLATERAL insured in accordance with the requirements of the LOAN CONTRACT, In
<br />
|