|
<br />499615 10/09/1996 12:15P
<br />Delta County Clerk & Recorder
<br />
<br />B: 768 P: 352
<br />Lela J. McCracken
<br />
<br />time of the unsealing of and delivery of these presents it is well seized of the Property in fee simple, and has good right, full power
<br />and lawful authority to grant, bargain, sell and convey the same in the manner and form as aforesaid; hereby fully and absolutely
<br />waiving and releasing all rights and claims it may have in or to said Property as a Homestead Exemption, or other exemption, under
<br />and by virtue of any act of the General Assembly of the State of Colorado, or as any exemption under and by virtue of any act of
<br />the United States Congress. now existing or which may hereafter be passed in relation thereto and that the same is free and clear
<br />of all liens and encumbrances whatever and the above bargained Property in the quiet and peaceable possession of the PUBLIC
<br />TRUSTEE, its successors and assigns, against all and every person or persons lawfully claiming or to claim the whole or any part
<br />thereof, the GRANTOR shall and will Warrant and Forever Defend.
<br />
<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments levied on the Property;
<br />any and all amounts due on account of principal and interest or other sums on any senior encumbrances, if any; and will keep the
<br />Property insured in accordance with the requirements of the Contract. Should the GRANTOR fail to insure the Property in accordance
<br />with the Contract or to pay taxes or assessments as the same fall due, or to pay any amounts payable upon senior encumbrances,
<br />if any, the beneficiary may make any such payments or procure any such insurance, and all monies so paid with interest thereon
<br />at the rate of ten percent (10%) per annum shall be added to and become a part of the indebtedness secured by this Deed of Trust
<br />and may be paid out of the proceeds of the sale of the Property if not paid by the GRANTOR. In addition, and at its option, the
<br />beneficiary may declare the indebtedness secured hereby and this Deed of Trust to be in default for failure to procure insurance or
<br />make any further payments required by this paragraph.
<br />
<br />AND THAT IN CASE OF ANY DEFAULT, whereby the right of foreclosure occurs hereunder, the PUBLIC TRUSTEE, the State
<br />as holder of the note, or the holder of a certificate of purchase, shall at once become entitled to the possession, use and enjoyment
<br />of the Property aforesaid, and to the rents, issues and profits thereof, from the accruing of such right and during the pendency of
<br />foreclosure proceedings and the period of redemption, if any there be, and such possession shall at once be delivered to the PUBLIC
<br />TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase on request and on refusal, the delivery of the
<br />Property may be enforced by the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase by an
<br />appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or certificate of purchase, or any thereof, shall
<br />be entitled to a Receiver for said Property, and of the rents, issues and profits thereof, after such default, including the time covered
<br />by foreclosure proceedings and the period of redemption, if any there be, and shall be entitled thereto as a matter of right without
<br />regard to the solvency or insolvency of the GRANTOR or of the then owner of said Property and without regard to the value thereof,
<br />and such Receiver may be appointed by any court of competent jurisdiction upon ex parte application and without notice - notice
<br />being hereby expressly waived - and all rents, issues and profits, income and revenue therefrom shall be applied by such Receiver
<br />to the payment of the indebtedness hereby secured, according to the law and the orders and directions of the court.
<br />
<br />AND, that in case of default in any of said payments of principal or interest, according to the tenor and effect of said
<br />promissory note or any part thereof, or of a breach or violation of any of the covenants or agreements contained herein and in the
<br />Contract, by the GRANTOR, its successors or assigns, then and in that case the whole of said principal sum hereby secured, and the
<br />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
<br />said Property be sold in the manner and with the same effect as if said indebtedness had matured, and that if foreclosure be made
<br />by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of said foreclosure proceedings shall
<br />be allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a reasonable
<br />attorney's fee shall be taxed by the court as a part of the cost of such foreclosure proceedings.
<br />
<br />",~,:.:-:.,.,
<br />o",,'':t't: .lli~t!f!l~"1ER UNDERSTOOD AND AGREED, that ,if a release of this Deed of Trust is required, the GRANTOR will pay the
<br />exp..e;~\~f:., feCif{, ..:t~.at1JJI the covenants and agreements contained herein and in the Contract shall extend to and be binding upon
<br />the:~~\lssoT.s ,ilJld"asll!llns of the respective parties hereto; and that the singular number shall include the plural, the plural the
<br />sJ~q~'ri;'f\~\~~~J,e~r1!!'.y gender shall be app~le to all genders.
<br />
<br />\~J.~~~".ilt""'~daY 0 t/n.e-, 19~.
<br />.,~,~:,~{ '-" ". "i'<i' ( ,< ,()
<br />,4? '.>~~>", :,{; ..'L . 1:J ~
<br />'-"-:_~~~-r.l!~;'.~::'~":~i;j~~~:~ ~,:~' ",
<br />".,:.Jlll! '>;,;<7>-"" ",~.,:,,,, 'r'~" ,
<br />".-'"< '~~,!~~.~ .,~~r::~ . - -
<br />.,. ,: '.:~-', . ,
<br />
<br />,
<br />
<br />} ss
<br />
<br />
<br />~
<br />
<br />State of Colorado
<br />County of ~
<br />
<br />(:be J e....T
<br />CA..~) CI'lL".. DM
<br />~1tNe?W-c)t/t ~_.
<br />My commission expires - &~ . - tf
<br />
<br />1r:)-/;?-96
<br />
<br />['JI..4. u)+71:;t (1)JSEIJ lj.fTltAJ 3MtD
<br />/1nfIJ; {j,'1-I!.Ti1e;r JI?AJkW5
<br />;--"')i C'~~_,_ 11_"_"'_,"114-1 f?'""bC
<br />
<br />
<br />before me this ..M!: day of
<br />
<br />
<br />, 199t, by
<br />
<br />v
<br />~~
<br />
<br />/
<br />/'
<br />
<br />~
<br />
|