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If the Property is abandoned by Caldera or if,after notice by Beneficiary to Caldera that the condemnor offers to make <br /> an award or settle a claim for damages, Caldera fails to respond to Beneficiary within 30 days after the date such notice is <br /> given,Beneficiary is authorized to collect and apply the proceeds, at Beneficiary's option, either to restoration or repair of <br /> the Property or to the sums secured by this Deed of Trust. <br /> 6. Forbearance by Beneficiary Not a Waiver. Any forbearance by Beneficiary in exercising any right or remedy <br /> hereunder,or otherwise afforded by law,shall not be a waiver or preclude the exercise of any such right or remedy. <br /> 7. Remedies Cumulative. Each remedy provided in the Settlement and this Deed of Trust is distinct from and <br /> cumulative to all other rights or remedies under the Settlement and this Deed of Trust or afforded by law or equity,and may <br /> be exercised concurrently,independently or successively. <br /> 8. Successors and Assigns Bound; Captions. The covenants and agreements herein contained shall bind, and the <br /> rights hereunder shall inure to,the respective successors and assigns of Beneficiary and Caldera,subject to the provisions of <br /> § 14 (Transfer of the Property; Assumption). The captions and headings of the sections in this Deed of Trust are for <br /> convenience only and are not to be used to interpret or define the provisions hereof. <br /> 9. Notice. Except for any notice required by law to be given in another manner,(a)any notice to Caldera provided for <br /> in this Deed of Trust shall be in writing and shall be given and be effective upon(1)delivery to Caldera or(2)mailing such <br /> notice by first class U.S. mail, addressed to Caldera at Caldera's address stated herein or at such other address as Caldera <br /> may designate by notice to Beneficiary as provided herein;and(b)any notice to Beneficiary shall be in writing and shall be <br /> given and be effective upon(1)delivery to Beneficiary or(2)mailing such notice by first class U.S.mail,to Beneficiary's <br /> address stated herein or to such other address as Beneficiary may designate by notice to Caldera as provided herein. Any <br /> notice provided for in this Deed of Trust shall be deemed to have been given to Caldera or Beneficiary when given in any <br /> manner designated herein. <br /> 10. Governing Law;Severability. This Deed of Trust shall be governed by the law of Colorado.In the event that any <br /> provision or clause of this Deed of Trust or conflicts with the law,such conflict shall not affect other provisions of this Deed <br /> of Trust which can be given effect without the conflicting provision,and to this end the provisions of this Deed of Trust are <br /> declared to be severable. <br /> 11. Foreclosure; Other Remedies. Upon Caldera's breach of any covenant or agreement of Caldera in this Deed of <br /> Trust, Beneficiary may invoke the power of sale and any other remedies permitted by law. Beneficiary shall be entitled to <br /> collect all reasonable costs and expenses incurred in pursuing the remedies provided in this Deed of Trust,including,but not <br /> limited to,reasonable attorney's fees. <br /> If Beneficiary invokes the power of sale,Beneficiary shall give written notice to Trustee of such election.Trustee shall <br /> give such notice to Caldera of Caldera's rights as is provided by law. Trustee shall record a copy of such notice and shall <br /> cause publication of the legal notice as required by law in a legal newspaper of general circulation in each county in which <br /> the Property is situated,and shall mail copies of such notice of sale to Caldera and other persons as prescribed by law.After <br /> the lapse of such time as may be required by law,Trustee,without demand on Caldera,shall sell the Property at public auction <br /> to the highest bidder for cash at the time and place(which may be on the Property or any part thereof as permitted by law)in <br /> one or more parcels as Trustee may think best and in such order as Trustee may determine. Beneficiary or Beneficiary's <br /> designee may purchase the Property at any sale. It shall not be obligatory upon the purchaser at any such sale to see to the <br /> application of the purchase money. <br /> Trustee shall apply the proceeds of the sale in the following order: (a)to all reasonable costs and expenses of the sale, <br /> including,but not limited to,reasonable Trustee's and attorney's fees and costs of title evidence; (b)to all sums secured by <br /> this Deed of Trust, subject to the limitations of§ 15.2; and(c)the excess, if any, to the person or persons legally entitled <br /> thereto. <br /> 12. Appointment of Receiver; Beneficiary in Possession. Beneficiary or the holder of the Trustee's certificate of <br /> purchase shall be entitled to a receiver for the Property after a default by Beneficiary with respect to the obligations secured by <br /> this Deed of Trust and the expiration of any applicable cure periods, and shall also be so entitled during the time covered by <br /> foreclosure proceedings and the period of redemption,if any;and shall be entitled thereto as a matter of right without regard to <br /> the solvency or insolvency of Caldera or of the then owner of the Property, and without regard to the value thereof. Upon <br /> abandonment of the Property,Beneficiary,in person,by agent or by judicially-appointed receiver, shall be entitled to enter <br /> upon,take possession of and manage the Property. <br /> 3 <br /> 1400749.4 <br />