|
<br />
<br />This indenture is between the GRANTOR, and the Public Trustee of the abcve referenced
<br />COUNTY, State cf Colorado ("PUBLIC TRUSTEE"),
<br />
<br />The GRANTOR has executed a Prcmisscry Note cf even date and amount, set fcrth in the
<br />LOAN CONTRACT, for a lean in the PRINCIPAL LOAN AMOUNT to be repaid to the BENEFICiARY, '~
<br />with terms as shown above and in accordance with the Prcmisscry Note or until loan is
<br />paid in full.
<br />
<br />The GRANTOR is desirous, cf securing payment cf the PRINCIPAL LOAN AMOUNT and interest
<br />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 fcrever,
<br />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 Promisscry Ncte, or any part
<br />thereof, or the interest thereon, or in the performance cf any covenants hereinafter set
<br />'forth or in said Promisscry Note cr LOAN CONTRACT, then upon the BENEFICIARY filing
<br />notice cf election and demand fer sale, said PUBLIC TRUSTEE, after advertising nctice of
<br />said sale weekly for not less than four weeks in some newspaper of general circulation in
<br />said, COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the
<br />time of filing said nctice and demand, at public aucticn fer cash, at any proper place
<br />designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE
<br />shall retain cr pay first all fees, charges and costs and all moneys advanced for taxes,
<br />insurance and assessments, or on any prior encumbrance, with interest thereon and pay
<br />the principal and interest due on said Promissory Note, rendering the overplus, if any,
<br />unto the GRANTOR; and after the expiraticn of the time of redemption, the PUBLIC TRUSTEE
<br />shall execute and deliver to the purchaser a deed to the COLLATERAL scld, The
<br />BENEFICIARY may purchase said COLLATERAL or any part thereof at such sale.
<br />
<br />The GRANTOR covenants that at the time of the delivery of these presents, it is well
<br />seized of the COLLATERAL in fee simple, and has full power and lawful authcrity to grant,
<br />bargain, sell and convey the same in the manner and form as aforesaid, The GRANTOR
<br />fully waives and releases all rights ,and claims it may have in or tc said COLLATERAL as a
<br />Homestead Exemption or ether exemption, now or hereafter provided by law, The
<br />GRANTOR further covenants that the collateral is free and clear cf all liens and
<br />encumbrances whatever and that the GRANTOR shall warrant and forever defend the
<br />COLLATERAL in the quiet arid peaceable possession of the PUBLIC TRUSTEE, its S!Jccessors
<br />and assigns, against all and every person or perscns lawfully claiming or to claim the
<br />whcle 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 en account of the
<br />principal and interest or ether sums en any senior encumbrances, if any; and will keep the
<br />COLLATERAL insured in accordance with the requirements cf the LOAN CONTRACT, In the
<br />event cf the sale or transfer cf the COLLATERAL, the BENEFICIARY, at its opticn, may
<br />declare the entire balance of the note immediately due and payable.
<br />
|