2019-02-15_REVISION - M1995095 ‎(4)‎

• Permit No: M1995095
• IBM Index Class Name: REVISION
• Doc Date: 2/15/2019
• Doc Name: Application
• From: James Shelton
• To: DRMS
• Type & Sequence: SO3
• Email Name: MAC
• Email Name: TC1
• Media Type: D
• Archive: No

116 shall be paid to Lender as herein provided. However, all of the rights of Borrower and Lander bereunder with respect to such
117 proceeds are subject to the rights of any holder of a prior deed of trust.
118 In the event of a total taking of the Property,the proceeds shall be applied to the sums secured by this Deed of Trust,with the
119 excess,if any,paid to Borrower.In the event of a partial taking of the Property,the proceeds retraining after taking out any part of
120 the award due any prior lien holder(net award)shall be divided between Lender and Borrower,in the same ratio as the amount of
121 the sums secured by this Deed of Trust immediately prior to the date of taking bears to Borrower's equity in the Property
122 immediately prior to the date of taking. Borrower's equity in the Property means the fair market value of the Property less the
123 amount of sums secured by both this Deed of Trust and all prior liens(except taxes)that are to receive any of the award, all at the
124 value immediately prior to the date of taking.
125 If the Property is abandoned by Borrower or if, after notice by Lender to Borrower that the condemnor offers to make an
126 award or settle a claimm for damages,Borrower fails to respond to Lender within 30 days after the date such notice is given,Lender
127 is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to the sums
128 secured by this Deed of Trust.
129 Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in§§4
130 (Payment of Principal and Interest)and 23(Escrow Funds for Taxes and Insurance)nor change the amount of such installments.
131 12. Borrower not Released. Extension of the time for payment or modification of amortization of the sums secured by this
132 Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release,in any manner,the liability of
133 the original Bnrmwer,nor Borrower's successors in interest, from the original terms of this Deed of Trust. Lender shall not be
134 required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of
135 the sums secured by this Deed of Trust by reason of any demand made by the original Borrower nor Borrower's successors in interest.
136 13. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder,or
137 otherwise afforded by law,shall not be a waiver or preclude the exercise of any such right or remedy.
139 14. Remedies Cumulative. Each remedy provided in the Note and this Deed of Trust is distinct from and cumulative to all
139 other rights or remedies under the Note and this Deed of Trust or afforded by law or equity, and may be exercised concurrently,
140 independently or successively.
141 15. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
142 contained shall bind,and the rights hereunder shall inure to,the respective successors and assigns of Lender and Borrower,subject
143 to the provisions of§24 (Transfer of the Property; Assumption). All covenants and agreements of Borrower shall be joint and
144 several.The captions and headings of the sections in this Deed of Trust are for convenience only and are not to be used to interpret
145 or define the provisions hereof
146 16. Notice. Except for any notice required by law to be given in another manner, (a)any notice to Borrower provided for
147 in this Deed of Trost shall be in writing and shall be given and be effective upon (1) delivery to Borrower or (2)mailing such
148 notice by first class U.S.mail,addressed to Borrower at Borrower's address stated herein or at such other address as Borrower may
149 designate by notice to Lender as provided herein, and (b) any notice to Lender shall be in writing and shall be given and be
150 effective upon (1) delivery to Lender or(2)mailing such notice by first class U.S. mail, to Lender's address stated hercin or to
151 such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Deed of
152 Trust shall be deemed to have been given to Borrower or Lender when given in any manner designated herein.
153 17, Governing Law; Severability. The Note and this Deed of Trust shall be governed by the law of Colorado. In the
154 event that any provision or clause of this Deed of Trust or the Note conflicts with the law, such conflict shall not affect other
155 provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this end the
156 provisions of the Deed of Trust and Note are declared to be severable.
157 18. Acceleration; Foreclosure; Other Remedies. Except as provided in §24 (Transfer of the Property; Assumption),
159 upon Borrower's breach of any covenant or agreement of Borrower in this Deed of Trust,or upon any default in a prior lien upon
159 the Property, (unless Borrower has exercised Borrower's rights under §6 above), at Lender's option,all of the sums secured by
160 this Deed of Trust shall be immediately due and payable(Acceleration),To exercise this option,Lender may invoke the power of
161 sale and any other remedies permitted by law. Lender shall be entitled to collect all reasonable costs and expenses incurred in
162 pursuing the remedies provided in this Deed of Trust,including,but not limited to,reasonable attorney's fees.
163 If Lender invokes the power of sale,Lender shall give written notice to Trustee of such election.Trustee sball give such notice
164 to Borrower of Borrower's rights as is provided by law. Trustee shall record a copy of such notice and shall cause publication of
165 the legal notice as required by law in a legal newspaper of general circulation in each county in which the Property is situated,and
166 shall mail copies of such notice ofsale to Borrower and other persons as prescribed by law.After the lapse of such time as may be
167 required by law,Trustee,without demand on Borrower,shall sell the Property at public auction to the highest bidder for cash at the