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COI,ORADO REVISED STATUTES Page 3 of 4
<br />(B) Obtain and retain, in the officer's records, the name and mailing address of the person who paid the cure amount.
<br />(II) Following the withdrawal or dismissal, the evidence of debt shall be returned uncancelled to the attorney for the holder OR servicer or, if
<br />none, to the holder or servicer by the public trustee or to the court by the sheriff.
<br />(3) Where the default in the terms of the evidence of debt, deed of trust, or other lien on which the holder of the evidence of debt claims the
<br />right to foreclose is the failure of a party to furnish balance sheets or tax returns, any person entitled to cure pursuant to paragraph (a) of
<br />subsection (2) of this section may cure such default in the manner prescribed in this section by providing to the holder or the attorney for the
<br />holder the required balance sheets, tax returns, or other adequate evidence of the party's financial condition so long as all sums currently due
<br />under the evidence of debt have been paid and all amounts due under paragraph (b) of subsection (2) of this section, where applicable, have
<br />been paid.
<br />(4) Any person liable on the debt and the grantor of the deed of trust or other lien being foreclosed shall be deemed to have given the
<br />necessary consent to allow the holder of the evidence of debt or the attorney for the holder to provide the information specified in paragraph
<br />(a) of subsection (2) of this section to the officer and all other persons who may assert a right to cure pursuant to this section.
<br />(5) A cure statement pursuant to paragraph (a) of subsection (2) of this section shall state the period for which it is effective. The cure
<br />statement shall be effective for at least ten calendar days after the date the cure statement is received by the officer or until the last day to cure
<br />under paragraph (b) of subsection (2) of this section, whichever occurs first. The cure statement shall be effective for no more than thirty
<br />calendar days after the date the cure statement is received by the officer or until the last day to cure under paragraph (b) of subsection (2) of
<br />this section, whichever occurs first. The use of good faith estimates in the cure statement with respect to interest and fees and costs is
<br />specifically authorized by this article, so long as the cure statement states that it is a good faith estimate effective through the last day to cure
<br />as indicated in the cure statement. The use of a good faith estimate in the cure statement shall not change or extend the period or effective
<br />date of a cure statement.
<br />(6) Following expiration of the period for which the cure statement is effective, but no less than fifteen calendar days prior to the date of sale,
<br />the person who originally submitted the notice of intent to cure may make a written request to the public trustee for an update of the amount
<br />necessary to cure. Upon receipt by the public trustee of such written request for updated cure figures, subsection (2) of this section shall
<br />apply.
<br />(7) If the holder of the evidence of debt or the attorney for the holder receives a request for a cure statement under paragraph (a) of subsection
<br />(2) of this section and does not file a cure statement with the officer by the earlier of ten business days after receipt of the request or the eighth
<br />calendar day before the date of the sale, the officer shall continue the sale for one week. Thereafter and until the cure statement is filed, the
<br />officer shall continue the sale an additional week for each week that the holder fails to file the cure statement; except that the sale shall not be
<br />continued beyond the period of continuance allowed under section 38-38-109 (1) (a). A cure statement must be received by 12 noon on the
<br />day it is due in order to meet a deadline set forth in this subsection (7).
<br />38-38-301. Holder of certificate of purchase paving charges - redemption.
<br />The holder of a certificate of purchase may pay at any time after the sale and during the redemption period described in section 38-38-302 the
<br />fees and costs that the holder may pay pursuant to section 38-38-107 and may include any such amounts as part of the amount to be paid
<br />upon redemption.
<br />38-38-302. Redemption by lienor - procedure.
<br />(1) Requirements for redemption. A lienor or assignee of a lien is entitled to redeem if the following requirements are met to the satisfaction
<br />of the officer:
<br />(a) The lienor's lien is a deed of trust or other lien that is created or recognized by state or federal statute or by judgment of a court of
<br />competent jurisdiction;
<br />(b) The lien is a junior lien as defined in section 38-38-100.3 (11);
<br />(c) The lienor's lien appears by instruments that were duly recorded in the office of the clerk and recorder of the county prior to the recording of
<br />the notice of election and demand or lis pendens and the lienor is one of the persons who would be entitled to cure pursuant to section 38-38-
<br />104 (1), regardless of whether such lienor filed a notice of intent to cure. If, prior to the date and time of the recording of the notice of election
<br />and demand or lis pendens, a lien was recorded in an incorrect county, the holder's rights under this section shall be valid only if the lien is
<br />rerecorded in the correct county at least fifteen calendar days prior to the actual date of sale;
<br />(d) The lienor has, within eight business days after the sale, filed a notice with the officer of the lienor's intent to redeem. A lienor may file a
<br />notice of intent to redeem more than eight business days after sale if:
<br />(1) No lienor junior to the lienor seeking to file the late intent to redeem has redeemed;
<br />(ll) The redemption period for the lienor seeking to file the late intent to redeem has not expired;
<br />(III) A redemption period has been created by the timely filing of a notice of intent to redeem; and
<br />(IV) The notice of intent to redeem is accompanied by a written authorization from the attorney for the holder of the certificate of purchase
<br />according to the records of the officer conducting the sale, or, if no attorney is shown, then the holder of the certificate of purchase, or, if a
<br />redemption has occurred, from the immediately prior redeeming lienor, or the attorney for the immediately prior redeeming lienor, authorizing
<br />the officer to accept such notice of intent to redeem;
<br />(e) The lienor has attached to the notice of intent to redeem the original instrument and any assignment of the lien to the person attempting to
<br />redeem, or certified copies thereof, or in the case of a qualified holder, a copy of the instrument evidencing the lien and any assignment of the
<br />lien to the person attempting to redeem. If the original instrument is delivered to the officer, the officer shall return the instrument to the lienor
<br />and retain a copy.
<br />(f) The lienor has attached to the notice of intent to redeem a signed and properly acknowledged statement of the lienor, or a signed statement
<br />by the lienor's attorney, setting forth the amount required to redeem the lienor's lien, including per diem interest, through the end of the
<br />nineteenth business day after the sale with the same specificity and itemization as required in section 38-38-106. If the amount required to
<br />redeem the henor's lien shown on the statement is zero, the lienor has no right to redeem unless section 38-38-305 applies.
<br />(2) Request for redemption amount. Upon receipt by the officer of the notice of intent to redeem filed by a person entitled to redeem under
<br />this section, the officer shall within one business day transmit by mail, facsimile, or other electronic means to the attorney for the holder of the
<br />certificate of purchase, or if no attorney, then to the holder, a written request for a written or electronic statement of all sums necessary to
<br />redeem the sale. The statement shall include the amounts required to redeem in accordance with this section.
<br />(3) Statement of redemption.
<br />(a) Upon receipt of notice that an intent to redeem was filed, the holder of a certificate of purchase shall submit a signed and acknowledged
<br />statement, or the attorney for the holder shall submit a signed statement, to the officer, no later than thirteen business days following the sale,
<br />specifying all sums necessary to redeem as of the date of the statement, the amount of per diem interest accruing thereafter, and the interest
<br />rate on which the amount is based. A holder of the certificate of purchase that is not a qualified holder, or the attorney for the holder, shall also
<br />submit to the officer receipts, invoices, evidence of electronic account -to -account transfers, or copies of loan servicing computer screens
<br />evidencing the fees and costs and verifying that the fees and costs were actually incurred as of the date of the statement, along with the per
<br />diem amounts that accrue after the date of sale. The holder or the attorney for the holder may amend the statement from time to time to reflect
<br />additional sums advanced as allowed by law, but the statement shall not be amended later than two business days prior to the commencement
<br />of the redemption period pursuant to paragraph (a) of subsection (4) of this section or each subsequent redemption period pursuant to
<br />paragraph (b) of subsection (4) of this section.
<br />(b) If the holder of the certificate of purchase or the attorney for the holder fails to submit the initial written statement to the officer within
<br />thirteen business days after the sale, the officer may calculate the amount necessary to redeem by adding to the successful bid the accrued
<br />interest from the sale through the redemption date. The accrued interest shall be calculated by multiplying the amount of the bid by the regular
<br />rate of annual interest specified in the evidence of debt, deed of trust, or other lien being foreclosed, divided by three hundred sixty-five and
<br />then multiplied by the number of days from the date of sale through the redemption date. The officer shall transmit by mail, facsimile, or other
<br />electronic means to the party filing the notice of intent to redeem, promptly upon receipt, the statement filed by the holder, or if no such
<br />statement is filed, the officer's estimate of the redemption figure, which shall be transmitted no later than the commencement of the redemption
<br />period pursuant to paragraph (a) of subsection (4) of this section or each subsequent redemption period pursuant to paragraph (b) of
<br />subsection (4) of this section.
<br />(4) Redemption period.
<br />(a) No sooner than fifteen business days nor later than nineteen business days after a sale under this article, the junior lienor having the most
<br />senior recorded lien on the sold property or any portion thereof, according to the records, having first complied with the requirements of
<br />subsection (1) of this section, may redeem the property sold by paying to the officer, no later than 12 noon on the last day of the lienor's
<br />redemption period, in the form specified in section 38-37-108, the amount for which the property was sold with interest from the date of sale,
<br />Effectne I L'_Uli
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