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declarations,covenants,by-laws,rules,or other documents governing the use,ownership or occupancy of the extend time for payment or whet wise modify anon Lizalion of the sums seemed by this Deed of Trust by reason of
<br /> Property any demand made by the original Bel rower nor Borrower's successors in interest.
<br /> 9. Protection of Lender's Security. Except when Borrower has exercised Borrower's rights under 13. Forbearance by Lender Not a Waiver.Any forbearance by Lender in exercising any right or remedy
<br /> paragraph 6 above,if Borrower fails to perform the covenants and agreements contained in this Deed of Trust,or ifs. hereunder,or otherwise afforded by law,shall not boa waiver or preclude the exercise of any such right or remedy.
<br /> default occurs in a prior lien,or if any action of proceeding is commenced which materially affects Lender's interest
<br /> in the Property, then Lendet, at Lender's option, with notice to Borrower ifrequired by law, may make such 14. Remedies Cumulative.Each remedy provided in the Note and this Deed of Trust is distinct from and
<br /> appearances,disburse such suns and lake such action as is necessary to protect Lender's interest,including,but not cumulative to all other rights or iemedles under the Note and this Deed of Trust or afforded by law or equity,and may
<br /> limited to: be exercised concurrently,independently of successively.
<br /> (a) any general or special taxes or ditch or water assessments levied or accruing against the Properly;
<br /> (b) the premiums on any insurance necessary to protect any improvements comprising a part of the 15. Successors and Assigns Bound; Joint and Several Liability; Captions, rho covenants and
<br /> Property; agreements herein contained shall bind,and the i ights heieundei shall inure to,the respective successors and assigns
<br /> (c) sums due our any prior lien or encumbrance on the Property; of Lender and Borrower,subject to the provisions of paragraph 24(Transfet of the Property;Assumption) All
<br /> (d) if the Property Is a leasehold or is subject to a lease,all sums due under suchlease; covenants and agi cements of Borrower shall be joint and several.The captions and headings of the paragraphs in this
<br /> (e) the reasonable costs and expenses of defending,protecting,and maintaining the Property and Deed of Trust are for convenience only and are not to b used to interpret or define the provisions hereof
<br /> Lender's interest in the Property,including repair and maintenance costs and expenses,costs and expenses of protecting
<br /> and securing the Propelty,receiver's fees and expenses, inspection fees, appraisal fees, court costs,attorney fees and 16. Notice.Except for any notice tequired by law to be given in another manner•,(a)any notice to Borrower
<br /> costs,and fees and costs of an attorney in the employment of Lendcr or holder of the certificate of purclunse; provided for in this Deed of Trust shall be in writing and shall be given and be effective upon(1)delivery to Borrower
<br /> (t)all other costs and expenses allowable by the evidence of debt or this Deed of Trust;and or(2)marling such notice by first class U.S.mail,addressed to Borrower at Borrower's address stated herein or at such
<br /> (g)such other costs and expenses which may be authorized by a court of competent jurisdiction Borrower other address as Bouower may designate by notice to Lender as provided)retain,and(b)any notice to Lender shall be
<br /> hereby assigns to Lender any i ight Borrower may have by reason of any prior encumbrance on the In wi itrng nod shall be given and be effective upon(1)delivery to Lender or(2)mulling such notice by first class U.S.
<br /> Property or by law or otherwise to cure any default under said prior encumbrance, mail,to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as
<br /> Any amounts disbursed by Lender pursuant to this paragraph 9,with Interest thereon,shall become additional provided herein.Any notice provided for in this Deed of Trust shall be deemed to have been given to Bouower or
<br /> indebtedness of Bonower secured by this Deed of Trust.Such amounts shall be payable upon notice from Lender to Lender when given in any mannerdesignaled harem
<br /> Borrower requesting payment thereof,and Lender may bring suit to collect any amounts so disbursed plus interest specified
<br /> in paragraph 2B(Note;Other Obligations Secured).Nothing contained in this paragraph 9 shall require Lender to incur any 17. Govern hug Law;Severn bility.The Note and this Deed of Trust shall be governed by the law of Colorado.
<br /> expense or take any action hereunder In the event that any provision or clause of this Deed ofTmst or the Note conflicts with the law,such conflict shall not
<br /> affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision,
<br /> 10. Inspection.Lender may make or cause to be made reasonable entries upon and inspection of the Propel ty, and to this end the provisions of the Deed of Trust and Note are declared to be severable
<br /> provided that Lender shall give Bonower notice prior to any such inspection specifying reasonable cause therefore
<br /> related to Lender's interest in the Property 18. Acceleration; Foreclosure;Other Remedles.Except as provided in paragraph 24(Transfer of the
<br /> Property;Assumption),upon Borrower's breach of any covenant or agreement of Bonower in this Deed of Trust,or
<br /> ll. Condemnation.The proceeds of any award or claim for damages,direct or consequential)in connection upon any default in a prior lien upon the Property,(unless Borrower has exercised Borrower's rights under
<br /> with any condemnation or other taking of the Property,or part thereof,or for conveyance in lieu of condemnation,are paragraph 6 above),at Lenders option,all of the sums secured by this Deed of Trust shall be immediately due and
<br /> hereby assigned and shall be paid to Lendet as herein provided However,all of the rights of Borrower and Lender payable(Accclemtion).To exercise this option,Lender rimy invoke the power of sale and any other remedies peal fitted
<br /> hereunder with respect to such proceeds are subject to the rights of any holder ofa prior deed of trust, by law.Lendershall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided
<br /> In tine event ofa total taking of the Properly,the proceeds shall be applied to the sums seemed by this Deed ofTrusl, in this Deed o£Trust,Including,but not limited to,reasonable attorney's fees
<br /> with the excess,if any,paid to BolTower.In the evert ofa partial taking of the Property,the proceeds remaining after taking if Lender invokes the power of sale,Lender shall give whiten notice to Trustee of such election.Trustee shall give
<br /> out any part of the award due any prior lien holder(net award)shall be divided between Lender and Borrowel,In the same such notice to BolTower of Borrower's lights as is provided by law.Trustee shall record a copy of such notice as required
<br /> ratio as the amount of the sums secured by this Deed of Trust Immediately prior to the date of taking bears to Borrowers by law.Trustee shall adve I use the time and place of the sale of the Property,for not less than four weeks Ina newspaper of
<br /> equity in the Property immediately prior to the date ortaking.Borrower's equity in the Property means the fair market value general circulation in each county in which the Property is situated,and shall mail copies of such notice of sale to Borrower
<br /> of fire Property less the amount of sums secured by both this Deed of Trust and all prior liens(except taxes)that are to and other persons as prescribed by law.After the lapse orsuch time as may be required by law)Trustee,without demand on
<br /> receive any of the award,all at the value immediately prior to the date oftaking. Borrower,shall sell the Property at public auction to the highest biddet for cash at the time and place(which may be on the
<br /> Iflhe Property is abandoned by Borrower m if,after notice by Lender to Borrower that the condemner offers to make Property or any part thereof ns petmitted by law)in one or more pnicels as'trustee may think best and In such order as
<br /> an award or settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date such notice is Trustee may determine.Lender or Lender's designee may purchase the Property at any sale.It shall not be obligatory upon
<br /> given,Lender is authorized to collect and apply the proceeds,at Lenders option,either to restoration or repair of the the purchaser al any such sale proceeds
<br /> see to the application of the purchase money
<br /> Property or to the sums secured by this Deed of Trust ng,buTrustee shall apply the proceeds of the sale in the following order:(e)to all waeo v die costs and expenses of the sale,
<br /> Any such application of proceeds to principal shall not extend or postpone the due date ofthe installments referred this Deed
<br /> but not limited to,reasonable Trustee's and peattrson
<br /> fees and costs of title evidence;(b)to all sums secured by
<br /> to in paragraphs 4(Payment of Principal and Intereso and 23(Escrow Funds for Taxes and Insurance) nor change the this Decd of Trust;and(c)the excess,if tiny,to the person or persons legally entitled thereto,
<br /> amount of such installments 19. Borrower's Right to Cure Default.\I/henever 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 /> 12. Borrower Not Released.Extension of the time for payment or modification of amortization of the sums delinquent principal and interest payments due as of the dote ofeure,costs,expenses,late charges, attorney's fees and
<br /> secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, other fees all in the manner provided by law.Upon such payment,this Deed of Trust and tire obligations secured
<br /> In any manner,the liability of the original Borrower,not Borrower's successors in interest,from the original terms of hereby shall remain In full force and effect as though no Acceleration had occurred,and the fineclosue proceedings
<br /> this Deed of Trust.Lender shall not be required to continence proceedings against such successor or refine to shall be discontinued,
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<br /> Exhibit 2 Exhibit 2
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