|
<br />proceeds or avails of such sale, after first paying and retaining all fees, charges and costs of making said sale,
<br />pay to the beneficiary hereunder the principal and interest due on said note according to the tenor and effect
<br />thereof, and all moneys advanced by such beneficiary or legal holder of said note for insurance. taxes and
<br />assessments, with interest thereon at ten per cent per annum, rendering the surplus, if any, unto the
<br />GRANTOR, its legal representatives or assigns; which sale and said deed so made shall be a perpetual bar, both
<br />in law and equity, against the GRANTOR, its successors and assigns, and all other persons claiming the
<br />Property, Dr any part thereof, by, from, through or under the GRANTOR, or 8ny of them, The holder of said
<br />note may purchase Property dr any part thereof; and it shall not be obligatory upon the purchaser at any such
<br />sale to see to the application of the purchase money,
<br />
<br />And the GRANTOR, for itself and its successors or assigns covenants and agrees to and with the PUBLIC
<br />TRUSTEE, that at the time of the unsealing of and delivery of these presents, it is well seized of the Property in
<br />fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in
<br />the manner and form as aforesaid; hereby fully and absolutely waiving and releasing all rights and claims it
<br />may have in or to said Property as a Homestead Exemption, or other exemption, under and by virtue of any
<br />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
<br />same is free and clear of all liens and encumbrances whatever, and the above bargained Property in the quiet
<br />and peaceable possession of the PUBLIC TRUSTEE, its 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
<br />Forever Defend,
<br />
<br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments
<br />levied on the Property; any and all amounts due on account of principal and interest or other sums on any
<br />senior encumbrances, if any; and will keep the Property insured in accordance with the requirements of the
<br />Contract. Should the GRANTOR fail to insure the Property in accordance with the Contract or to pay taxes or
<br />assessments 8S the same fall due, or to pay any amounts payable upon senior encumbrances, if any, the
<br />beneficiary may make any such payments or procure any such insurance, and all monies so paid with interest
<br />thereon at the rate of ten percent (10%) per annum shall be added to and become a part of the indebtedness
<br />secured by this Deed of Trust and may be paid out of the proceeds of the sale of the Property if not paid by
<br />the GRANTOR, In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and
<br />this Deed of Trust to be in default for failure to procure insurance or make any further payments required by
<br />this paragraph, In the event of the sale or transfer of the Property, the beneficiary, at its option, may declare
<br />the entire balance of the note immediately due and payable,
<br />
<br />And that in case of any default, wherebY the right of foreclosure occurs hereunder, the PUBLIC
<br />TRUSTEE, the State as holder of the note, or the holder of a certificate of purchase, shall at once become
<br />entitled to the possession, use and enjoyment Df the Property aforesaid, and to the rents, issues and profits
<br />thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period of
<br />redemption, if any there be, and such possession shall at once be delivered to the PUBLIC TRUSTEE, the State as
<br />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
<br />certificate of purchase by an appropriate civil suit or proceeding, and the PU8L1C TRUSTEE, or the holder of said
<br />note or certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the
<br />rents, issues and profits thereof, after suchdefault, including the time covered by foreclosure proceedings and
<br />the period Df redemption, if any there be, and shall be entitled thereto as 8 matter of right without regard to
<br />the solvency or insolvency of the GRANTOR or of the 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 parte
<br />application and without notice - notice being hereby expressly waived - and all rents, issues and profits,
<br />income and revenue therefrom shall be applied by such Receiver to the payment of the indebtedness hereby
<br />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
<br />effect of said promissory note or any part thereof, or of a breach or violation of any of the covenants or
<br />agreements contained herein and in the Contract, by the GRANTOR, its successors 'or assigns, then and in that
<br />case the whole of said principal sum hereby secured, and the interest thereon to the time of the sale, may at
<br />once, at the option of the legal holder thereof, become due and payable. and the said Property be sold in the
<br />manner and with the same effect as if said indebtedness had matured, and that if foreclosure be made by the
<br />PU8L1C TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of said foreclosure
<br />proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of foreclosure, and if foreclosure be
<br />made through the courts a reasonable attorney's fee shall be taxed by the court as a part of the cost of such
<br />
|