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<br />TO HAVE AND T'O HOLD the same, together with all appurtenances, in
<br />trustnevertheless, that in case of default in the payment of said Financial
<br />Warranty or any of said Financial Warranties, or any part thereof, or interest
<br />thereon, or in the performance of any covenant or condition set forth in any
<br />such bond or hereinafter set forth, then upon the beneficiary (bondholder)
<br />filing Notice of Election and Demand for Sale, said Public Trustee, after
<br />adve rtieing notice of said sale weekly, for not less than four (4) weeks in
<br />some newspaper of general circulation in said county, shall sell said property
<br />in the manner provided by law in effect at the time of filing said Notice and f~
<br />demand at public auction for cash, at any proper place designated in the (_x/
<br />Notice of Sale. Out of the proceeds of said sale, said Trustee shall retain / 1
<br />or pay first all fees, charges and costa and all monies advanced for taxes;
<br />insurance and assessments, or on any prior encumbrance, with interest thereon,
<br />and pay the principal and any other amounts due on any or all of such
<br />Financial Warranties as may then be in default, rendering the overplus (if
<br />any) unto the Grantor; and after the expiration of the time of redemption,
<br />said Trustee shall execute and deliver to the purchaser a deed to the property
<br />sold. The1 beneficiary may purchase said property, or any part thereof, at
<br />such sale.
<br />The Grantor covenants that, at the time of delivery of these presents,
<br />Grantor is seized of said property in fee simple, aad that said property is
<br />free of encumbrances, except liens for general taxes for current year,
<br />reservations, restrictions, easements and special assessments of record, and
<br />that Grantor will keep all buildings fully insured for fire and extended
<br />coverage, and will pay all taxes and assessments against said property and
<br />amounts due on prior encumbrances (if any) and, if Grantor shall fail to pay
<br />insurance premiums, taxes or amounts due on any prior encumbrance, the
<br />beneficiary may pay the same and all amounts so paid shall become additional
<br />indebtedness due hereunder; and, in case of foreclosure, Grantor will pay
<br />beneficiary's reasonable attorney's fees.
<br />The time of payment of this Deed of Trust for purposes of C.R.S. 1973,
<br />38-40-106 and similar provisions of subsequent laws, is the final date by
<br />which reclamation is expected to be completed under the Financial warranty
<br />first above described, or until such time as a replacement financial warranty
<br />is submitted and accepted by the Board.
<br />Grantor covenants that Grantor will not directly or indirectly engage
<br />in any mining operation upon said property or allow others to do so, without
<br />the prior written consent of the beneficiary, and that so doing would be an
<br />event of default under this Deed of Trust.
<br />Should the beneficiary hereunder be made a party to any action
<br />affecting this Deed of Trust or the title to said property, the Grantor agrees
<br />that all court cysts and a reasonable attorney's fee paid by the beneficiary
<br />shall become additional indebtedness due hereunder and the Grantor does hereby
<br />release and waive all claims in said property as a homestead exemption or
<br />other exemption now or hereafter provided by law.
<br />IT IS AGREED that, in case of default in payment of any of said
<br />Financial Warranties or a breach of any of the covenants or conditions therein
<br />or in this Deed of Txvst, then the principal sum hereby secured, and interest
<br />thereon, may, at the option of the beneficiary, become due and payable at
<br />once, anything in said warranties to the contrary notwithstanding, and
<br />possession of said property will thereupon be delivered to the beneficiary,
<br />and on failure to deliver such possession, the beneficiary shall be entitled
<br />to a receiver for said property, who may be appointed by any court of
<br />competent jurisdiction-
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