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<br />497989 08/09/1996 12:35P
<br />Delta County Clerk & Recorder
<br />
<br />B:
<br />Lela
<br />
<br />764 P: 904
<br />J. McCracken
<br />
<br />And the grantor, for himself and his heirs, personal representatives or assigns covenants and agrees to and with the Public 1histee, that at che time oftbe
<br />ensea1ingofanddelivery of these presenlsheis well seizedofthesaidlandand tenemenlsinfeesimple, andhasgoodright, full ~ and lawful authority
<br />to grant, bargain, sell and convey the same in the manner and Connas afOresaid; hereby fully and absolutely waiving and re1easmg all rights andclaims he
<br />may have in or 10 said lands, tenements, and property as a Homestead Exemption. or other exemption. under and by virtue of any act of the General
<br />Assemhl.yofthe State of Colorado, or as any exemption under and by virrueofany actoflhe United States Congress, now exislhlgor wlrichmay hereafter
<br />be passed in relation thereto and that the same are free and clear of all liens and encumbrances whatever, except
<br />
<br />and the above bargained properly in the quiet and peaceable possession of tile Public 'Ihlstee, his successors and assigns, against all and every person or
<br />persons lawfully claiming or to claim the whole or any part thereof, the grantor shall and will Warrant and Forever Def~nd.
<br />Until payment in full of the indebtedness, the grantor shall timely pay all taxes and assessments levied on the property; any and all amounts due on
<br />account of principal and interest or other sums on any senior encumbrances, if any; and will keep all improvements that may be on said lands insured
<br />against any casualty loss, including extended coverage, in a company or oompanies meeting the net worth requirements ofthe"'beneficiary hereof in an
<br />amount nOlless than the then total indebtedness, Each policy shall contain a loss payable clause naming the beneficiary as mort$agee and shall further
<br />provide that the insurance may not be canceled upon less than ten days written notice to the beneficiary, AI the option of the beneficlary, the original policy
<br />or policies of insurance shall be delivered to the beneficiary as further security for the indebtedness. Should the grantor fail to insure and deliver the
<br />policies or to pay taxes or assessments as the same fall due, or 10 pay any amounts payable upon senior encumbrances, if any, the beneficiary may make
<br />any such payments or procure any such insurance. and all monies so paid with interest thereon at therateof 8 % per annum shall be added to and
<br />become a part of the indebtedness secured by this Deed ofThtst and may be paid out of the proceeds of the sale of the property if not paid by the grantor, In
<br />addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of Thtst to be in default for failure to procure
<br />insurance or make any of the payments required by this paragraph,
<br />AND THAT IN CASE OF ANY DEFAULT, Whereby the right of foreclosure occurs hereunder, the Public 'Ihistee or the holder of said note or
<br />certificate of purcltase, shall at once become entitled to the possession, use and enjoyment of the property aforesaid, and to the renlS, issues and profits
<br />thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period of redemption. if any there be: and such
<br />possession shall at once be delivered to the Public Thtstee or the holderof said nole orcertificateof purchase onrequest, and on refusal, the delivery of such
<br />possession may be enforced by the Public ThtSIee or the holder of said note or certificate ofpurchase by any appropriate civil suit or proceeding, and Ihe
<br />Public Thlslee, orlhe holder of said nole or certificate of pur chase, or any thereof. shaJl be entitled to a ~eiver for said property. and of the rents. issues
<br />and profits thereof, after sucb default, including the time covered by foreclosure proceedings and the period ofredemption, if any there be, and shall be
<br />entitled thereto as a matter of right without regard 10 the solvency or insolvency of the grantor or oflhe then owner of said property and without regard to the
<br />value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex parle application and without notice -notice being
<br />hereby expressly waived --:- and all rents, ISSUes andJ'rofils, income and revenue therefrom shall be applied by such Receiver 10 the payment of the
<br />indebtedness hereby secured, according to the law an the orders and directions of the court.
<br />AND, That in case of default in any of said payments of principal or interesl, according 10 the lenor and effect of said promissory note aforesaid, or any
<br />of them, or any part thereof, orofabreachorviolationofany of the covenants or agreements herein, bylhe grantor, hispersonalrepresentalivesorassigns,
<br />then and in Ihat case, the whole of said principal sum hereby secured, and Ihe interest thereon 10 Ihe time of Ihe sale, may at once, at the option of the legal
<br />holder thereof, become due and payable, and the said property be sold in the manner and with the same effect as if said indebtedness had malured,
<br />
<br />
<br />and that if foreclOsure be made by the Public Thlstee, an allomey's fee of the sum of two hundred dollars
<br />, 'for services ih ilic's\liJervision of said foreclosure proceedin~s shall be allowed by the Public 'Ihistee as a part of the'cost of foreclosure, and ifforeclosure be
<br />, ,ugh ~~.-cou~s a reasonable altorney's fee shall e laxed by the court as a part of the cost of such foreclosure proceedings.
<br />ber shall include the plural, the plurallhe singular. and Ihe use of any gender shaH be applicable 10 all genders.
<br />1994
<br />
<br />)
<br />
<br />R::~JL;))4i:ij:;4
<br />
<br />President
<br />
<br />Slate of Colorado
<br />Counlyof Delta
<br />
<br />f'
<br />
<br />My commission expires June 28, 1997
<br />
<br />
<br />day of
<br />
<br />August
<br />
<br />,1994
<br />and Patricia
<br />
<br />The foregoing instrument was acknowledged before me this
<br />by
<br />
<br />D. Fritchman
<br />Witness my hand and seal,
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