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<br />And tbcploroovenanU ~~ to and with the Public Trustee, thatatthe timcof1hecnsea1ingofand delivery of these presents he is wen seized of
<br />the said land and tenements in fee simple, 8ttd has good righl. full power and lawful Bulliodt)' to grant, bargain. sell and convey the same in the manller and
<br />form as aforesaid; bereby fully and absolutely waiving and releasing aU rights and claims he may have in or to said lands, tenements, and property as a
<br />Homestead Exemption, or otbcr:elte~PtioD. under IInd by virtue of aoy act orthc Gcnend Assembly of the State of Colorado, or as any exemption under
<br />and by virtue orany act oithe United S-..ucs Coqgress.llOW existing or which may bereaftcr be passed in ~lation thereto and that the same ate free and clear
<br />o(aUliensandenCllmbra:nces~halcvef.cXcept. . existing _ easements, rights of way and
<br />reservation, visiole or of record. Grantor does not warrant
<br />title to water rights
<br />
<br />and the aoo:.c bargained property in the quiet and peaceable possession of the Public Trustee, against all and every person or pcrsons lawfully claiming or to
<br />claim the whole or any part tberenf, the arentor shall and will Wanant and Forever Defend.
<br />Until payrnc~t in full of the indebtedness, the grantor shall timely pa)' aU taxes and assessments levied on the property; any and all amounts due on
<br />aCOOllot of principal and interest or otber SUms on any senior encumbrances, if any; and win keep all improvements that may be on said lands insured
<br />against any casualty loss, including extendl;d coverage, in a company.or companies meeting the net ~rtb requirements of the beneliciary herenf in an
<br />amount which will yield to the holder of the iDdebtcdness, after reduction by co-insuranee provisions of the policy, if any, not less than the then total
<br />. indebtedness. Each policy shall contain a loss payable cJausc naming the beneliciary as mortgagee and shall further provide that t1w insurance may not be
<br />canceled upon less than ten days written n.otice to the beneficiary. At the option of the beneficiary, !hI' original policy or policies of insurance shall be
<br />delivered to the beneficiary, as further SCl;Urity for the indebtedness. Should the grantor fail to insure and deliver the policies or to pay taxes or assessments as
<br />the same faU due, or to pay any amounts Ilayable upon senior encumbrances, if any, the beneliciary may make any such payments or procure any such
<br />insutance, and aU monies so paid with inte~t thereon at the tate of 15 % ~r annum shall be adde4 to and become a part oflbe indebtedness secured
<br />by this Deed oflhlst and may be paid out of the prooccds of the sale of the property if not paid by the gtlWtor. In addition, and at its option, the beneficiary
<br />may declare the indebtedness secured herehy and this Deed ofTrust to be in default for failure to procure insurance or make any of the payments required
<br />by this paragraph.
<br />Ifall or any part of the property or an interest tberein is sold ortransfcrred by the arentor without ~neftciary's priorwrilten consent, exc1uding(a) the
<br />creation ofa lien or encumbrance subordin.atc to this Deed of'Ihist, (b) the creation of a purchase money security interest for household appliances, (c) a
<br />transfer by devise, descent or by operatiQIl. of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not
<br />containing an option to purchase, beneficiary may, at beneliciary's option, declare all the sums secured by this Deed of Trost to be immediately due and
<br />payable. Beneficiary shalt have waived such option to accelerate if, prior to the sale or transfer, beneficiary and the person to whom the property is to be sold
<br />or transferred reach agreement in writing tbat the credit of such person is satisfactory to beneficiary and that the interest payable on the sums secured by
<br />this Deed of Trust shall bcat such rate as bcneficiary shall request.
<br />AND THAT IN CASE OF ANY DEFAULT whereby the right offoreclosure occurs hereunder, the h.olderofsaid note orcertificateofpurchascshallat
<br />oncc become entitled to the possession, use and enjoyment of the property aforesaid, and to the rents, iSsues and proftts thereof, from the accruing of such
<br />right and during the pendency offorcclosure proceedings and the period of redemption, ifanythere be: and such possession shall atance bedclivered to the
<br />holder of said nOle or certiftcate of purc~e on request, and on refusal, the delivery of such poSSCSSil;ln may be enforced by the holder of said note or
<br />certiftcate ofpurchasc by any appropriate civil suit orprocceding, and the holder of said note or certilicateofputcbase, or any thereof, shall be entitled to a
<br />Receiver for said property, and of the rents, issues and proftts thereof, after such default, including thl:! time covered by foreclosure proceedings and the
<br />period oftcdcmption, if any there be, and d1a1l be entitled thereto as a matter of right without regard to the solvency or insolvency of the grantor or of the
<br />then owner of said property and without ~ to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex
<br />parte application and without notice - nCltice being hereby expressly waived - and all rents, issues and prolits, income and revenue therefrom shall be
<br />applied by such Receiver to the payment of the indebtedness hereby secured, according to the law and tbe orders and directions of the court.
<br />AND, that in case of default in any ot said payments of principal or interest, according to the ten.or and effect of said promissory note or any part
<br />thereof, or of a breach or violation of any oftbe covenants or agreements herein, by the grantor, then and in that case the wbole of said principal sum hereby
<br />secured and 1he interest thereon to the timl:! of the sale may at once, at the option of the legal holdcrther(:of, become due and payable, and the said property
<br />be sold in the manner and with the same effect as ifsaid indebtedness had matured, and that ifforccloSllre be made by the Public Trustee, an attorney's fee
<br />of the sum of a reasonable fee . -~
<br />for services in the supervision of said forecl.osure proceedings shall be allowed by the Public Trustee as a part of the cost offorcclosure, and jfforcclOsure be
<br />lPade through the courts a reasonable attOtney's tee sbaU be taxed by the court as a part of the cost of s\lch foreclosure proceedings.
<br />It 16 Further Understood .ad Agreed. that if a release of this deed oftmst is required, the grantor will pay the expense thereof; that all the covcncnts and
<br />agreements herein contained shall extend ID and be binding upon the heirs, personal representatives, sUCccssorsand assigns of the respective parties hereto;
<br />and that the singular number shall include the plural, the plural the singular, and the use of any gender ib.a1l be applicable to all genders.
<br />
<br />,1999. Daniel A. and Jacqueline P.
<br />Sherwood Trust U/A DTD Decembe~
<br />6, 1995
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<br />T '~""-),,,,,~';Jfi~ ~~an~e~ A. sne?5'~~
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<br />\\\1'11> ~""'.r:. state :. olorado ss.ll cq: .l/1\Sherwooo,,\ Trustee
<br />......~\.l)...(~ (.~""/";;:ountYbf ~~
<br />.~ "',, ........... 'r,~ -:,. ..
<br />'.$'.,.. :.:..' "'/O...~?' ':: Daniel A. Sherwood, Individually
<br />':.1.~orego~~ruIl'!~\fwa?aCkn!,'Owled&cdbefOremethis dayof Nov ber ,1999
<br />'~-b}fDan~~ 1\:'rl~i!P ':u'acqueline P. Sherwood, Indi idual and as Trustees of
<br />.'. ~~ 'D~..l.>r~~nd Jacqueline P. Sherwo'1.:',
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<br />. "':',Ii1*'lqOll)~\.-sion Expires
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<br />N.....lIld Ad~o.rPeisoaCrwill& Newly ~Icd Lept Description (I 38.3S.t06.5, c'R's.)
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