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<br />BoorU 732 rAGr 250
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<br />And the grantor covenants and agrees to and with the Public ThJstee, that at tbe time of the enseaIing of and delivery oftbesc presents he is well seized of
<br />the said land and tenements in fee simple, aod has good righi, fun power aud lawful authority to grant, bargain, sell and convey the same in the manner and
<br />Conn as aforesaid; hereby Cully and absolutely waiving and releasing all rights and claims he may have in or to said lands, tenements, and property as a
<br />Homestead Exemption, or other exemption, under and by virtue araoy act of the Genef8l Assembly of the State ofColotado, or as any exemption under
<br />and by virtue of any act oCtile United State8 Congrea.s, now existing or which may hereafter be passed in relation thereto and that the same lITe ftte and clear
<br />of an liens and eocumbrances whatever, except
<br />
<br />aDd the above bargained property in the quiet and peaceable possession mIlle Public 1histee, &pion all and eva-y person or peisons lawfully Claiming or to
<br />claim the whole or aD)' part tbtlrcof, the grantor shall and will Warrant and Forever Defend.
<br />Until payment in full of the indebtedness, the grantor shall timely pay an taxes and assesliIIlcnts levied 00 thcproperly; any and all amounts dUe"OD
<br />account of principal and interellt or other sums on any senior encumbrances, if any; and will keep all improvement8'that may be on said lands insured
<br />against any casualty loss, including extended ooverase. In a company or companies meeting the net worth requirements of the beneficiary hereof in an
<br />amount which will yield to the holder of the indebtedness, after reduction by co-insumnce provisions of the policy, if any, not less than the then total
<br />indebtedness. Each policy shall contain a loss payable dause naming the beneficiary 1UI mortgagee and shall further provide that the insumnce may not be
<br />canceled upon less than ten days written notice to the beneDciary. At the option of the beneficiary, the original policy or policies of insurance shall be
<br />delivered totbebeneftciarylUl furtherxcurity fortheindebtedttess. Should thegrantorfaillo insureanddeliver,tbepolioielJoFto-paytuesorassessroeotus
<br />the same fall due, or to pay any aroounts payable upon senior encumbrances, if lIDY, the beneficiary may make any such payments or procure any such
<br />insurance, and all monies so paid with interest thereon at the rate of 4 % per lUUIum shall be added to and become a part of the indebtedness secured
<br />by this Deed ofThlst and may be paid out of the proceeds o-fthe sale of the property ifnot paid by the grantor. In addition, and at its option, the beneliciary
<br />may decIarc the indebtedness secured hereby aDd this Deed oflhlst to be in default for failure to procure insurance or make any of the payments required
<br />bythisparagtapb.
<br />If all or any part of the property or an interest therein is sold or transferred by the grantor without beneficiary's prior written consent, excluding (!l) the
<br />creation ofa lien or encumbrance subordinate to this Deed of'Ih1st, (b) the creation ofa purchase money security interest for household appliances, (c) a
<br />transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any Ieasehold interest of three years or less not
<br />containing an option to pwcbase, beneficiary may, at beneliciary's option, declare aU the sums secured by this Deed of'Ihist to be immediately due and
<br />payable. Beneliciary shall have waived such option to accelerate if, prior to the we or transfer, beneliciary and the person to whom the property is to be sold
<br />or transferred reaeb agreement in writing that the credit of such JICISOn is satisfactory to beneliciary and that the interest payable on the sums secured by
<br />this Deed of'Ihlst shall be at such rate as beneficiary shall request.
<br />AND11IAT IN CASE OF ANYDEFAULTwherebythe rigbtofforeclosure occurshereunder, theholderofsaid note orcertificateofpurohase shallat
<br />once become entitled to the possession, use and enjoyment of the property al'oresaid, and to the rents, issues and profits thereof, from the aocruing of sueb
<br />rigbt and during the pendency offorec1osure proceedings and the period of redemption, if any there be: and such possession shall at once be delivered to the
<br />holder of said note or certificate of purchase on request, and on refusal, the delivery of such possession may be enforced by the bolder of said note or
<br />certilicate of purcllase by any appropriate civil suit or proceeding. and the holder of said note or certificate ofpurohase, or any theroof, shall be entitled to a
<br />Receiver for said property, and ofthe Rnts, issues and profits thereof, after such default, including the time covered by foreclorore proceedings and the
<br />period ofredemplion, ifany there be, and shall be entitled thereto as a mattel: of right without regard to the solvency or insolvency of the grantor orofthe
<br />then owner of said property and without regard to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex.
<br />parte application and without notice _ notice being hereby expressly waived - and all rents, issues and profits, income and revenue therefrom sha1I be
<br />applied by such Recelverto the payment of the indebtedness hereby secured, acoordingto the law and the 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 and eJfect of said promissory note or any part
<br />thereof, or of a breach or violation of any of the covenants or agreements herein, by the grantor, then and in that case the whole of said principal sum hereby
<br />secured and the interest thereon to the time of the sale may at once, at the option of the legal holder thereof, become due and payable, and the said property
<br />be sold in the manner and with the same effect as if said indebtedness bad matured, and that ifforeclosure be made by the Public 'Ih1stee, an attorney's fee
<br />of the sum of do1lan
<br />for services in the supervision of said fOttcl08ure proceedings shall be allowed by the Public 'Ihistee as a part orthe cost of foreclosure, and ~ foreclosure be
<br />made through the courts a reasonable attorney's fee sba1l8e taxed by the court as a part of the cost ofsuch foreclosure proceedings.
<br />It Is Further Understood and Apeed, that if a release of this deed of trust is required, the grantor will pay the expense thereof; that all the covenents and
<br />agreementsberein contained shall extend toand be bindiogupon the bein, personal representatives, ~andassigns oftherespect:ivepartieshereto;
<br />and that the singular number sba1l include the plural, the plural the singular, and the use of any gender shall be applicable to aIlllenders.
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<br />ExtCiit~~~:.I:II'''"l~-,.jJ., dayof J'ANLf.A'R,:!
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<br />'~.'" V'S .t .0 ,.$tate of Colorado
<br />"""1/:,,,;:,,,,1'\\\\' ~ntyof Montezuma
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<br />January ""'" ~ OF ,~94'" "
<br />ummit Reservoir &'c't't'f gatlon Co.
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<br />The foregoing instrument was acknowledged before me this 14 th
<br />by David V. Sanfqrd as Secretary-Treasurer
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<br />Witness my hand and seal.
<br />My commission expires: 12-23-94
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<br />NameIllClAddRaofPersooCTeoIlll8NewlyCteatedLfplDelcriptiO<l(f3a..3S.106.5,CR.S.)
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