2007-11-01_REVISION - M1982121 ‎(2)‎

• Permit No: M1982121
• IBM Index Class Name: Revision
• Doc Date: 11/1/2007
• Doc Name: Return of released & inactive deeds of trust
• From: DRMS
• To: Mid-Continent Resources, Inc
• Type & Sequence: SL1
• Media Type: D
• Archive: No

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for taxes, insurance and assessments, or on any prior encumbrance,
with interest thereon, and pay the principal and any other amounts
due on any or all of such financial warranties as may then be in
default, rendering the overplus (if any) unto the grantor; and
after the expiration of the time of redemption, said trustee
shall execute and deliver to the purchaser a deed to the property
sold. The beneficiary may purchase said property or any part
thereof at such sale.
The grantor convenants that at the time of delivery of these
presents, grantor is seized of said property in fee simple, and
that said property is free of encumbrances, except liens for
general taxes for current year, reservations, restrictions, ease-
ments and special assessments of record and that grantor will
keep all buildings fully insured for £ire and extended coverage,
and will pay all taxes and assessments against said property and
amounts due on prior encumbrances (if any) and if grantor shall
fail to pay insurance premiums, taxes or amounts due on any prior
encumbrance, the beneficiary may pay the same and all amounts so
paid shall become additional indebtedness due hereunder; and in
case of foreclosure, grantor will pay beneficiary's reasonable
attorney's fees.
The time of payment of this deed of trust for purposes of
C.R.S. 1973, 38-40-106 and similar provisions of subsequent laws,
is April 15, 2018, which is the final date by which reclamation
is expected to be completed under the financial warranty first
above described.
Grantor covenants that grantor will not directly or indirectly
engage in any mining operation upon said property or allow others
to do so, without the prior written consent of the beneficiary,
and that so doing would be an event of default under this deed of
trust.
Should the beneficiary hereunder be made a party to any
action affecting this deed of trust or the title to said property,
the grantor agrees that all court costs and a reasonable attorney's
fee paid by the beneficiary shall become additional indebtedness
due hereunder and the grantor does hereby release and waive all
claims in said property as a homestead exemption or other exemption
now or hereafter provided by law.
IT IS AGREED that in case of default in payment of any of
said financial warranties or a breach of any of the covenants or
conditions therein or in this deed of trust, then the principal
sum hereby secured, and interest thereon, may at the option of
the beneficiary become due and payable at once, anything in said
warranties to the contrary notwithstanding, and possession of
said property will thereupon be delivered to the beneficiary, and
on failure to deliver such possession the beneficiary shall be
entitled to a receiver for said property, who may be appointed by
any court of competent jurisdiction.
Whenever used herein the singular number shall include the
plural, the plural the singular, and the use of any gender shall
be applicable to all genders. All of the covenants herein shall
be binding upon the respective heirs, personal representatives,
successors and assigns of the parties hereto.
This deed of trust may be amended by grantor from time to
time with the written concurrence of_the beneficiary, to describe
additional financial warranties which are to be secured by the
deed of trust and to delete financial warranties which this deed
of trust no longer secures.
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