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17. Governing Lau; Severability. the No[c and this Deed of irus[ shall De goverfud by the tau of Colorado. !n the event
<br />that any provision ar clause of this Deed of Trust or the Note conflicts with the law, such conflict shall not affect ocher
<br />provisions of This Deed of Trust or the Note which can be given effect without [he conflicting provision, and to this end the
<br />provisions of the Oeed of irus[ and Noce are tled aretl [o be severable.
<br />18. Acceleration; Foreclosure; Other Remedies. Upon Borrower's breech of any covenant or agreement of Borrower in this
<br />Deed of irus[, or upon any default in a prior lien upon the Property, (unless Borrower has exercised Borrower's rights antler
<br />paragraph a above), at Larder's option, all of the saw secured by this Deed of Trust shell be immediately due aM payable
<br />(Acceleration), To exercises this option, Lentler may invoke the power of sale end arty other remedies perm(t[ed b/' law.
<br />Lender shall be entitled Io collect all reasonable costs and expenses incurred in pursuing the remMieg providetl in this Deed
<br />of crust, including, but not limited to, reasonable attorney's fees,
<br />If Larder invokes the power of sale, LeMer Shall give written notice to Trustee of such election. Trustee shall give
<br />such notice to Borrower of Borrower's rights as is provided by law. Trustee shall record a copy of such notice ae required by
<br />law. trustee shall advertise the time eM place of the sale of the Property, for not less then tour weeks in a newspaper of
<br />general circW a[ion in each county in which the -roperty is situatetl, and shall mail copies of such notice of sale to Borrower
<br />end other persons as prescribed by law. After the lapse of such time as may be required by lea, Trustee, without demand on
<br />Borrower, shall sell the Property ac public aucii on to the highest bidder for cash a[ the time and place (which may be on the
<br />Property or any part thereof as permitted by lea) in one or more parcels as Trustee may think hest aM in such ortler es
<br />Trustee may determine. LeMer or Lender's designee may Wrchase the Property at any sale. IL shall not be obligatory upon
<br />the purchaser a[ any such sale to see to the application of the purchase money.
<br />Trustee shall apply the proceeds of the sale in the fallowing order: (a) to all reasonable casts end expenses of the
<br />sale, ind Wing, but not limited to, reasonable Trustee's aM attorney's fees end casts of title evidence; (b) to all suns
<br />secured by this Deed of irus[; and (c) the excess, if any, to the person or persons legally entitled [hereto.
<br />19. Borrower's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any suns due hereunder, [he
<br />owners of the Property ar parties liable hereon shall be entitled to cure said defaults by paying ell delinquent principal and
<br />in[erast payments due as of the dace of cure, costs, expenses, late charges, attorney's fees and other fees all in the enamor
<br />provided by law. Upon such payment, this Oeetl of Trust and [he obligations Secured hereby shall remain in full farce aM
<br />effect a. though no Accef era[im had occurred, aM the foreclosure proceedings shaft be diccontiiwad.
<br />20. Assignment Of Rents; Appointment of Receiver; LeMer in Po¢seasion. As sddi [i anal security hereuMer, Benrawer
<br />hereby assigns to lender the rents of the Property; however, Borrower shall, prior to Acceleration under paragraph 18
<br />(Acceleration; Foreclosure; Other Remedies) or ebandorment of the Property, have the ri 9ht to collect and retain such rents as
<br />they becwne due aM payable.
<br />leMer or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Properly after
<br />A¢eleretion under paragraph 1B (pcceleration; Foreclosure; 0th er 0.emedi es ), aM shall also be so entitled during the time
<br />covered by foreclosure proceedings aM the period of redemption, if any; aM shall be entitled thereto as a matter of right
<br />without regard to the solvency ar insolvency of Borrower or of the [hen owner of the Property, aM without regartl to the value
<br />thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex pane appf ication eM uithou[
<br />notice--notice being hereby expressly waived.
<br />Upon Acceleration under paragraph 18 (ACCeleratian; foreclosure; Other Remedies) or ebeMOnmen[ of the Property, Lender,
<br />in person, by agent ar by jWicia Uy-appointed receiver, shell be entitled to enter upon, take possession of aM manage the
<br />Property and co cot (act the ran [s of [he Property ind Wing those pest due. AU rents collected by Lender or the receiver
<br />shall be applieQ first, to payment of the costs of preservation and management of the Properly, second, to paynbn[s due upon
<br />prior liens, aM then to the suns secured by [his Deed of Trust. Lender and the receiver snail be liable to account only for
<br />those rents actually received.
<br />21. Release. VAOn payment of all suns secured by this Oeed of Trust, Lender shall cause Trustee to release this Deetl of
<br />Trust end shall produce for trustee the Note. Borrower shall pay all costs of recordation eM shall pay the statutory
<br />Trustee's tees. If Lender shall not pratluce the Nate as aforesaid, then lender, upon notice in accordance with paragraph le
<br />(Notice) frtm Borrauer to lender, shalt obtain, at Lentle r'a expense, eM file arty lost inatrunent boM required by Trustee or
<br />pay the Lost Hereof to etf act the release of chic Deed of Trust.
<br />22. Waiver of Exemptions. Borrauer hereby waives all right of hmzzteatl aM any pch er exemption in the Property under
<br />siete of fedora! law presently exis[i ng or hereof ter enacted.
<br />23. Bscraw Funds for Taxes eM Insurance. This paragraph 23 is not applicable if Funds as detinetl below are being paid
<br />pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender, on each day installmentc of
<br />principal and interest are payable under the Note, anti( the Note is paid in full, a sun (herein referred ca es "FUds") equal
<br />to n/a of the yearly taxes and assessments which may attain priority over this Deed of Trust, plus n/s
<br />of yearly premi un installments for Property Insurance, all as reasonably estimated initially aM from Time to time by LeMer
<br />an [he basis of assessments aM-bills aM reasonable esiimatetl thereof, taking into account any excess Funds not used or
<br />shortages.
<br />the principal of the fords shall be held in a separate account by the Lender in crust for the benei it ai the Borrower aM
<br />deposited in an institution the depoei is or accounts of which are insured or guaranteed by a federal or state agency. Lender
<br />shall apply the Funds to pay said taxes, a sessmen[a aM insurance premi ans. Lender may Dai charge for sa holding BM
<br />apply(ng the Funds, analyzing said eccauntsar verifying end compiling said essessnknts aM bills. Lentler shall not be
<br />required co pay Borrower any interest or earni ngS on the Funds. Lender sha4 give to Borrower, without charge, en annual
<br />ac<ounti rag of the FuMS sh0wing Credits aM Oebits tD the Funtls aM Ina purpose for which each debt[ to the Fonda was made.
<br />The Funds are pletlgetl as additional security for the suns secured by coca Deed of Trust.
<br />If the anrount of the Funds held by Lender shall not be sufficient to pay taxes, assessments eM insurance premiums as
<br />[hey tall tlue, Borrower shalt pay to Larder any amount necessary to make up the deficiency within 30 days from the date notice
<br />is given in acwrdance with paragraph 16 (Notice) by LaMar to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deetl of irusi, Lender shell sinulianeously refund to Borrauer any Funtls
<br />held by Larder. If under paragraph 18 fAaeleration; cored osure; Other Remedies) the Property is sold Or the Property Is
<br />o[Aerwise acquired by LeMer, lender shalt appf y, na later than irtmediately prior t0 the Safe of [he Property or it9
<br />ecquisiti on by Lender, whichever occurs first, any Funds held by Lender at the time of application as a credit against the
<br />awns secured by this Deed of crust:
<br />2L. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note aM of this Deetl of irus[.
<br />EXECUTED BY BORROWER
<br />Ovens Brothers Concrete Company, a
<br />Col'op1ra1do1`corpo'rA~'a't~\ion /rt
<br />BY 'l J'AA 'I \. l~
<br />William M. Swans, ~ss>.atant 'treasurer
<br />STATE OF COLORADO
<br />ss
<br />County of 4:.•ld
<br />by William M. Owens, assistant TYe
<br />corporation
<br />Witness my hand and official seal
<br />My commission expire.^. 10-17-2002
<br />No. TD 74-11-R3
<br />The foregoing instrument was acknowledged before me
<br />this 25th day of October, 2001
<br />Brothers Concrete Company, a Colorado
<br />MELIN DA
<br />BAESSLER
<br />80631
<br />
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