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TO HAVE AND TO HOLD the same together with all appurtenances ,
<br /> in trust nevertheless, that in case of default in the payment of
<br /> said bond or any of said bonds, or any part thereof , or interest
<br /> thereon, or in the performance of any covenant or condition set
<br /> forth in any such bond or hereinafter set forth, then upon the
<br /> beneficiary (bondholder) filing notice of election and demand for
<br /> sale , said Public Trustee, after advertising notice of said sale
<br /> weekly, for not less than four (4) weeks in some newspaper of
<br /> general circulation in said county, shall sell said property in
<br /> the manner provided by law in effect at the time of filing said
<br /> notice and demand at public auction for cash, at any proper place
<br /> designated in the Notice of Sale. Out of the proceeds of said
<br /> sale, said Trustee shall retain or pay first all fees, charges
<br /> and costs and all monies advanced for taxes, insurance and assess-
<br /> ments, or on any prior encumbrance, with interest thereon, and
<br /> pay the principal and any other amounts due on any or all of such
<br /> bonds as may then be in default, rendering the overplus (if any)
<br /> unto the Grantor; and, after the expiration of the time of
<br /> redemption, said Trustee shall execute and deliver to the purchaser
<br /> a deed to the property sold. The beneficiary may purchase said
<br /> property or any part thereof at such sale.
<br /> The Grantor covenants that, at the time of delivery of these
<br /> presents, Grantor is seized of said property in fee simple , and
<br /> that said property is free of encumbrances , except liens for
<br /> general taxes for current year, reservations, restrictions ,
<br /> easements and special assessments of record, and that Grantor
<br /> will keep all buildings fully insured for fire and extended
<br /> coverage, and will pay all taxes and assessments against said
<br /> property and amounts due on prior encumbrances (if any) , and, if
<br /> Grantor shall fail to pay insurance premiums, taxes or amounts
<br /> due on any prior encumbrance, the beneficiary may pay the same
<br /> and all amounts so paid shall become additional indebtedness due
<br /> hereunder; and, in case of foreclosure, Grantor will pay benefi-
<br /> ciary' s reasonable attorney' s fees.
<br /> The time of payment of this Deed of Trust for purposes of
<br /> C.R.S. 1973, 38-40-106 and similar provisions of subsequent laws,
<br /> is May 31. 2028 , which is the final date by which reclamation is
<br /> expected to be completed under the reclamation bond first above-
<br /> described.
<br /> Grantor covenants that Grantor will not directly or indirectly
<br /> engage in any mining operation upon said property or allow other
<br /> to do so, without the prior written consent of the beneficiary,
<br /> and that so doing would be an event of default under this Deed o
<br /> Trust.
<br /> Should the beneficiary hereunder be made a party to any
<br /> action affecting this Deed of Trust or the title to said property,
<br /> the Grantor agrees that all court costs and a reasonable attorne ' s
<br /> fee paid by the beneficiary shall become additional indebtedness
<br /> due hereunder and the Grantor does hereby release and waive all
<br /> claims in said property as a homestead exemption or other exemption
<br /> now or hereafter provided by law.
<br /> IT IS AGREED that, in case of default in payment of any of
<br /> said bonds or a breach of any of the covenants or conditions
<br /> therein or in this Deed of Trust, then the principal sum hereby
<br /> secured, and interest thereon, may, at the option of the beneficiary,
<br /> become due and payable at once, anything in said bonds to the
<br /> contrary notwithstanding, and possession of said property will
<br /> thereupon be delivered to the beneficiary, and on failure to
<br /> deliver such possession, the beneficiary shall be entitled to a
<br /> receiver for said property, who may be appointed by any court of
<br /> competent jurisdiction.
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