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RECEPTION#: 668920, 09/30/2020 at 02:01:45 PM, Pgs 6 of 9,Janice K. Vos Caudill, Pitkin County, CO
<br /> DWR Division 5
<br /> Received
<br /> 8/10/2021
<br /> # 10014521
<br /> DEED OF TRUST
<br /> (Continued) page 6
<br /> statemen about Borrower's or Grantor's income,assets,liabilities,or any other aspects of Borrower's or G to s financial condition.
<br /> (B) Borrower does not meet the repayment terms of the Credit Agreement. (C) Grantor's action or Ina on dvemely affects the collateral or Lender's rights in the collateral. This can include, for example, failure to maintain requ red nsure ely waste or destructive use of the dwelling,failure to pay taxes,death of all persons liable on the account,transfer of ti a or sale of the dwelling,
<br /> creation f a senior lien on the dwelling without Lender's permission, foreclosure by the holder of another Ii n, or the use of funds or
<br /> the dwell i g for prohibited purposes.
<br /> RIGHTS ND REMEDIES ON DEFAULT. Subject to any applicable notice and cure provisions under Col daaI� law, if an Event of
<br /> Default curs under this Deed of Trust, at any time thereafter, Trustee or Lender may exercise any one or pore of the following
<br /> rights an remedies:
<br /> Elect on of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised aloneor gather. An election
<br /> by L nder to choose any one remedy will not bar Lender from using any other remedy. If Lender decides t spend money or to
<br /> perfi nn any of Grantor's obligations under this Deed of Trust, after Grantor's failure to do so, that d cisicn by Lender will not
<br /> affe t Lender's right to declare Grantor in default and to exercise Lender's remedies.
<br /> Acc 'orate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness I rimediately due and
<br /> pays Is.
<br /> Fore losure. Lender shall have the right to cause all or any part of the Real Property, and Personal Pro erty if Lender decides to
<br /> proc 'ad against it as if it were real property,to be sold by the Trustee according to the laws of the Stat of olorado as respects
<br /> foreclosures against real property. The Trustee shall give notice in accordance with the laws of Colorado. The Trustee shall
<br /> apply the proceeds of the sale in the following order. (a) to all costs and expenses of the sale, in luci g but not limited to
<br /> Trustee's fees, attorneys'fees,and the cost of title evidence; (b)to all sums secured by this Deed ofTrust; and (c)the excess,
<br /> If any,to the person or persons legally entitled to the excess.
<br /> UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the lighti and remedies of a
<br /> secured party under the Uniform Commercial Code.
<br /> Colla t Rents. Lender shall have the right to take possession of and manage the Property and col act the Rents, including
<br /> amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against ths, Indebtedness. In
<br /> furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees
<br /> Cure ly to Lender. If the Rents are collected by Lender,then Grantor Irrevocably designates Lender as ra r's attomey-in-fad
<br /> to en ome instruments received In payment thereof in the name of Grantor and to negotiate the same nd collect the proceeds.
<br /> Payff ants by tenants or other users to Lender In response to Lender's demand shall satisfy the c AgoItions for which the
<br /> pay nts are made, whether or not any proper grounds for the demand existed. Lender may exec ise to rights under this
<br /> subp iragraph either in person,by agent,or through a receiver.
<br /> Apple nt Receiver. Lender shall have the right to have a receiver appointed to take possession of all or Rny art of the Property,
<br /> with he power to protect and preserve the Property, to operate the Property preceding foreclosure o sal and to collect the
<br /> Rent from the Property and apply the proceeds, over and above the cost of the receivership, agains the Indebtedness. The
<br /> re all er may serve without bond if permitted by law. Lender's right to the appointment of a receiver all xist whether. not
<br /> the a parent value of the Property exceeds the Indebtedness by a substantial amount. Employment by ndEr shall not disqualify
<br /> a per on from serving as a receiver. Receiver may be appointed by a court of competent jurisdiction k 1pon ex parts application
<br /> and ithout notice,notice being expressly waived.
<br /> Tenancy at Sufferance, if Grantor remains In possession of the Property after the Property is sold as Provided above or Lender
<br /> otherwise becomes entitled to possession of the Property upon default of Borrower or Grantor, Grantor shall become a tenant at
<br /> sufferance of Lender or the purchaser of the Property and shall,at Lender's option,either (1) pay are ono le rental for the use
<br /> of the Property,or (2) vacate the Property Immediately upon the demand of Lender.
<br /> Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or It a Credit Agreement
<br /> or available at law or in equity.
<br /> Sale of the Property. In exercising its rights and remedies, Lender shall be free to designate on or before it files a notice of
<br /> election and demand with the Trustee,that the Trustee sell all or any part of the Property together or separately,in one sale or by
<br /> separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property. U on any sale of the
<br /> Property,whether made under a power of sale granted in this Deed of Trust or pursuant to judicial proceedings, if the holder of
<br /> the C edit Agreement is a purchaser at such sale, it shall be entitled to use and apply all,or any portion of,I he Indebtedness for
<br /> or in ettlement or payment of all, or any portion of, the purchase price of the Property purchased, and in s ch case, this Deed
<br /> of Tr at, the Credit Agreement, and any documents evidencing expenditures secured by this Deed of Trust s all be presented to
<br /> the p rson conducting the sale In order that the amount of Indebtedness so used or applied may be credited thereon as having
<br /> been aid.
<br /> Attor eys'Fees; Expenses. If Lender forecloses or Institutes any suit or action to enforce any of the terms o this Deed of Trust,
<br /> Lends shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial a d upon any appeal.
<br /> Whet er or not any court action is involved,and to the extent not prohibited by law,all reasonable expenses ender incurs that in
<br /> Lend is opinion are necessary at any time for the protection of Its interest or the enforcement of its righl s sh ill become a part of
<br /> the In lebtedness payable on demand and shall bear interest at the Credit Agreement rate from the date of t is expenditure until
<br /> repaid Expenses covered by this paragraph include, without limitation, however subject to any limit ur der applicable law,
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