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13. Forbearance by Grantee Not a Waiver. Any forbearance by Grantee 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 /> 14. Remedies Cumulative. Each remedy provided in the Note and this Deed of Trust is distinct from and
<br /> cumulative to all other rights or remedies under the Note and this Deed of Trust or afforded by law or equity, and
<br /> may be exercised concurrently,independently or successively.
<br /> 15. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and
<br /> agreements herein contained shall bind,and the rights hereunder shall inure to,the respective successors and assigns
<br /> of Grantee and Grantor,subject to the provisions of§24(Transfer of the Property;Assumption).All covenants and
<br /> agreements of Grantor shall be joint and several.The captions and headings of the sections in this Deed of Trust are
<br /> for convenience only and are not to be used to interpret or define the provisions hereof.
<br /> 16. Notice. Except for any notice required by law to be given in another manner,(a)any notice to Grantor
<br /> provided for in this Deed of Trust shall be in writing and shall be given and be effective upon(1)delivery to Grantor
<br /> or(2)mailing such notice by first class U.S.mail,addressed to Grantor at Grantor's address stated herein or at such
<br /> other address as Grantor may designate by notice to Grantee as provided herein,and(b)any notice to Grantee shall
<br /> be in writing and shall be given and be effective upon(1)delivery to Grantee or(2)mailing such notice by first class
<br /> U.S.mail,to Grantee's address stated herein or to such other address as Grantee may designate by notice to Grantor
<br /> as provided herein.Any notice provided for in this Deed of Trust shall be deemed to have been given to Grantor or
<br /> Grantee when given in any manner designated herein.
<br /> 17. Governing Law; Severability. The Note and this Deed of Trust shall be governed by the law of
<br /> Colorado. In the event that any provision or clause of this Deed of Trust or the Note conflicts with the law, such
<br /> conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the
<br /> conflicting provision,and to this end the provisions of the Deed of Trust and Note are declared to be severable.
<br /> 18. Acceleration; Foreclosure; Other Remedies. Except as provided in §24 (Transfer of the Property;
<br /> Assumption),upon the occurrence of an Event of Default(as defined in the Note),Grantor's breach of any covenant
<br /> or agreement of Grantor in this Deed of Trust(which breach continues for twenty(20)days after written notice from
<br /> Grantee), or upon any default beyond any applicable notice and/or cure period in a prior lien upon the Property,
<br /> (unless Grantor has exercised Grantor's rights under§6 above),at Grantee's option,all of the sums secured by this
<br /> Deed of Trust shall be immediately due and payable(Acceleration).To exercise this option,Grantee may invoke the
<br /> power of sale and any other remedies permitted by law.Grantee shall be entitled to collect all reasonable costs and
<br /> expenses incurred in pursuing the remedies provided in this Deed of Trust,including,but not limited to,reasonable
<br /> attorney's fees.
<br /> If Grantee invokes the power of sale,Grantee shall give written notice to Trustee of such election.Trustee shall
<br /> give such notice to Grantor of Grantor's rights as is provided by law.Trustee shall record a copy of such notice and
<br /> shall cause publication of the legal notice as required by law in a legal newspaper of general circulation in each
<br /> county in which the Property is situated,and shall mail copies of such notice of sale to Grantor and other persons as
<br /> prescribed by law. After the lapse of such time as may be required by law, Trustee, without demand on Grantor,
<br /> shall sell the Property at public auction to the highest bidder for cash at the time and place(which may be on the
<br /> Property or at Trustee's office,or at any other place allowed by law) in one or more parcels as Trustee may think
<br /> best and in such order as Trustee may determine.Grantee or Grantee's designee may purchase the Property at any
<br /> sale.It shall not be obligatory upon the purchaser at any such sale to see to the 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
<br /> the sale, including,but not limited to,reasonable Trustee's and attorney's fees and costs of title evidence;(b)to all
<br /> sums secured by this Deed of Trust;and(c)the excess,if any,to the person or persons legally entitled thereto.
<br /> 19. Grantor's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any sums
<br /> due hereunder,the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all
<br /> delinquent principal and interest payments due as of the date of cure, costs,expenses, late charges, attorney's fees
<br /> and other fees all in the manner provided by law.Upon such payment,this Deed of Trust and the obligations secured
<br /> hereby shall remain in full force and effect as though no Acceleration had occurred,and the foreclosure proceedings
<br /> shall be discontinued.
<br /> 20. Assignment of Rents; Appointment of Receiver; Grantee in Possession. As additional security
<br /> hereunder,Grantor hereby assigns to Grantee the rents of the Property;however,Grantor shall,prior to Acceleration
<br /> under§ 18 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, have the right to collect
<br /> and retain such rents as they become due and payable.
<br /> Grantee or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after
<br /> Acceleration under § 18 (Acceleration; Foreclosure, Other Remedies), and shall also be so entitled during the time
<br /> covered by foreclosure proceedings and the period of redemption, if any; and shall be entitled thereto as a matter of
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