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<br />257486
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<br />B-524
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<br />P-981
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<br />06/10/96 11:03A PG 2
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<br />OF 2
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<br />And the grantor covenants and agrees to and ",ith the Public Troslee, that at the time oflhe ensealing orand delivery ofthese presents he is well seized of
<br />the said land and tenements in fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in the manner and
<br />form as aforesaid; hereby fully 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 olher exemption, under and by virtue of any act ortbe General Assembly of the State of Colorado, or as any exemption under
<br />and by virtue orany act ofthc United States Congress, now existing or which may hereafter be passed in relation thereto and that the same are free and clear
<br />ofalJliensandencumbranceswhatever,cxcePt all easements, rights of way, encumbrances,
<br />reservations, restrictions and interests of record and lease
<br />between the Town of Rangely and the Western Rio Bl~nco Parks
<br />and Recreation District.
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<br />and the above bargained property in the quiet and peaceable posses~ion of the Public Trustee, against all and every person or persons lawfully claiming or 10
<br />claim the whole or any part thereof, the grantor shall and will Warrant and Forever Defend.
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<br />Until payment in full of the indebtedness, the grnntof shall timely pay all ta"es 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 win keep all improvements that may be on said lands insured
<br />against any casualty lo~s, including extended coverage, in a company or companies meeting the net worth requirements of the beneficiary hereof in an
<br />amount wbich wiU yield to the bolder of the indebtedness, afterreductioo by co-insurance provisions of the po!icy, if any, not less than tbethen total
<br />indebterlness. Each policy ~hal[ rovuoin a ll.'~s payable clause nJlming the beneficiary a~ mot1gagee and shall fut1h1>r provide that the insurance may nnt be
<br />canceled upon less than ten days....Tittcn notice to the beneficiary. At tbe option oftbe beneficiary, the original policy or policies of insurance shall be
<br />delivered to the beneficiary as further sel;urity forthe indebtedness. Sho uldthegrantor fail to insure and deliver the policies orto pay taxes orasse ssmentsas
<br />~be same fall due, or to pay any amounts payable upon seniOr encumbrances, if any, the beneficiary may make any such payments or procure any such
<br />insurance, and all monies so paid with interest thereon at tbe rate of 9. 0% per annum shall be added to and become a part of the indebtedness secured
<br />by this Deed orTrust and may be paid oot of the proceeds of the sale of the property ifnot paid by the grantor. In addition, and at its option, the beneficiary
<br />may declare the indebtedness secured hereby and this Deed of Trust to be in default for failure 10 procure insurance or make any of the payments required
<br />by this paragraph.
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<br />Ifall or any part of the propcrtyor an interest therein is sold or transferred by the grantor without beneficiary's prior wrillen consent, excluding (a) the
<br />creation of a lien or encumbrance subordinate to this Dccd of Trust, (b) the creation ora purchase money security interest for household appliances, (c) a
<br />transfcr by devise, descent or by operation of law upon lhedeatbofajointt enant or (d) the grant of any lcasehold interest of three years or less not
<br />containing an option to purchase, beneficiary may, at bene6ciary's option, declare all the sums secured by this Deed of Trust to be immediately due and
<br />payable. Bene6ciary shall have waived suchoptiontoacceleratcif,priortot he sale or transfer. beneficiary and the person to whom the prop<"rty is to be sold
<br />or transferred reach agrccment ill writinglhat the credit of such person issalisf actory to bcneficiary and thattbe illlerest payable on the sums secured by
<br />this Deed of Trust shall bcat such rale as beneficiary shall request.
<br />AND THAT IN CASE OF ANY DEFAULT wherehy the right offoreclosure occurs hereunder, the holder of said note or certificate of purchase shall at
<br />once become entitled to the possession. use and enjoyment orthe property aforesaid, and to the rents, issues and pro6ts thereof, from the accruing of such
<br />right and during the pendency offorcclosure proceedings and the period of red em ption,ifanytherebe: and such possession shall at once be delivered to the
<br />holder of said note or certificate of purchase on request, and on refusal,thed eliveryofsuch possession may be enforced by the holder of said note or
<br />certificateofpurchasebyanyappropriale civil suit or procceding, and theh older of said note or certi6cate ofpurcbase, or any thereof,shallbeentillcd toa
<br />Receiver for said property, and of the rents, issues and pr06ts thereof, after such default, includi ngthe time covered by foreclosurepr,>eeedingsandtbe
<br />periodofredemption,ifanytherebe,andshallbeentitlcdtheretoasamatter of right without te'gard to the solvency or insolvency of the grantor or of the
<br />then owner of said property and without regard to the valuc 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 sball be
<br />applied by such Rcceh-er to thepaymentof1he indebtedness hereby secured, according to the law and the orders and directions of the court.
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<br />AND, that in case of default in any of said payments of principal or interest, according to tbe tenor and effect of said promissory note or any part
<br />thereof,orofa breachorviolationofany of the covenants or agreement s herein, by the grantor, then and in that case the whole of said principnl 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,wit~ the same effect as if said indebtedness had matured, and that if(orcclosure be made by the Public Truslee, an attorney's fee
<br />oflhe sum of dollars
<br />for services in the supervision of said foreclosure proceedings shall be allowed by the Public Trustee as a part of the cost of foreclosure, and ifforeclosure be
<br />made through the courts a reasonable attorney's fee shall be t,"ed by tbe court as a pal: of .11~ cost of sucb foreclo~ure proceedings.
<br />II h Further Undel'5tood lInd ARTeed,that if a release of this deed of trust i sreQuired,thegrnntorwillpaythec.'\pensetheteof;thatallthecovenentsand
<br />agreements herein contained shall extend to and be binding upon tbeheirs, person aI T!'p:n.:Ollliives, successors andassignsoflhe respcctive parties hereto;
<br />and that tbe singular number shall include the plural, the plural the singular, and the us<; cf ~n~ gend~r shall be applicable to all genders.
<br />
<br />ey.
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<br />Tmm Clerk
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<br />'.'.-/7 -
<br />,19 9L,~::;:..---
<br />';(};:.c?_#-~..t?4
<br />r("~ll;es Green,
<br />
<br />JJw~
<br />
<br />Mayor
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<br />Apr il
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<br />,<SE;AI.; "',
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<br />Blanco
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<br />111... foregoing instruma,'.1 w1ls acknowledged before me this .5 l::A-
<br />b} Francea" f.treen, Mayor and Daniel L.
<br />
<br />da;of
<br />
<br />Aj>FH (Y) ay-
<br />Town Clerk.
<br />
<br />.1994
<br />
<br />Cooley.
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<br />WitMssmy hand and seal.
<br />My commission e.\pires: (5/ t.J/9,
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