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HomeMy WebLinkAboutC81-040 Edwards Village1 Book 331 Recorded at, 11 :3.0- —o'clock-A M., Oct 29. 1981 Fee: $6. 00pd Page 337 - -Reception No. 29� _.11nn.ette Phillips—� Recorder Eagle COU11t,y TH1S INDENTURE, Made this 30th day o1 September , 1981 , between i I jl EDWARDS VILLAGE PARTNERSHIP, a Colorado general partnership j l whose address is P.O. Box 6, Avon, Colorado, 81620 part of the first part, and.the Pubiic.Truatee of County of Eagle in the State of Colorado, art of the second art. party p Witncsscth: THAT, WHEREAS, The said party of the f irst part has executed its promissory note bearing even date herewith, for the principal sum of THREE HUNDRED FORTHY EIGHT THOUSAND EIGHT HUNDRED FORTY AND N0/100 Dollars, payable to the order of EAGLE COUNTY COLORADO COMMISSIONERS whose address is P.O. Box 850, Eagle, Colorado, 81631 after the date hereof, with interest thereon from the date thereof at the rate of —0— percent per annum, payable according to the terms set forth therein. i� AND WHEREAS, The said part y of the first part is desirous of securing payment of the ,*Moll principal and interest of said promissory note in whose hands soever the said note or any of them may be. NOW. THEREFORE, The said party of the first part, in consideration of the premise's and for the purpose aforesaid, does hereby grant, bargain, sell and convey unto the said party of the second part in trust forever, the following described property, situate in the County of Eagle , State of Colorado, to wit: N011111110101 `'rI LOTS 27, 28, 29, 30 & 31 EDWARDS VILLAGE RESIDENTIAL according to the recorded plat thereof. x�tosxlxa�cdl�>�ad�. ; l TO HAVE AND TO HOLD the same, together with all and singular the privileges and appurtenances thereunto belonging: In Trust Nevertheless, That in i case of default in the payment of said note or any of them, or any part thereof, or in the payment of the interest thereon, according to the tenor and effect I of said note or any of them, or in the payment of any prior encumbrances: principal or interest, if any. or in case default shall be made in or in se of violation or breach ofany of the terms, conditions. covenants or agreements herein containcase ed, the beneficiary hereunder or the legal holder of the indebtedness secured hereby vE4y,dc%1W.e a violation of any of the covenants herein contained and elect to advertise said property for sate and demand such sale, then, upon filing notice of sup ir2teeuon ao &mand for sale with the said party of the second part. who shall upon receipt of such notice of election and demand for sale cause a copy of the same to \�Ne reClli W itr Ate. rctopdcr's office of the county in which said real estate is situated. it shall and may be lawful for said party of the second part to se?[ -and. dispose. oP the same (en manse or in separate parcels, as the said Public Trustee may think best), and all the right, title and interest -a laid p_u-t]y -- ,of�iietrst part, 1tS heirs or assigns therein, at public auction at the Eagle front door of the Court House, in the County of State of Colorado. or on said premises, or any part thereof as may be specified in the notice of said sale, for the highest and best pike-t)�c::�,ax,-will bring itr cash, four weeks' public notice having been previously given of the time and place of such sale, by advertisement, week;y, in.sotae iic wsspa: t of:general circulation at that time published in said county of Eagle , a copy of which notice shall be mailed tJlthin tcri days fromika U* of the first publication thereof to the said part y of the first part at the address herein given and to such person or persons 4ppearing-10S;ve squired a subsequent record interest in said real estate at the address given in the recorded instrument: where only the county and state is giJetiaas t4x adJk%9,then,0ch notice shall be mailed to the county seat, and to make and give,to the purchaser or purchasers of such property at such sale, a certificate or ceri-sates in.wnhrt� describing such property purchased, and the sum or sums paid therefor, and the time when the purchaser or purchasers (or other person entitled i thereto) •;hall be e(ttitleid to adeed or deeds therefor, unless the same shall be redeemed as is provided bylaw; and said Public Trustee shall, upon demand by the person or persons holding the said certificate or certificates of purchase, when said demand is trade. or upon demand by the person entitled to a deed to and for the property j purchased, at the time such demand is made, the time for redemption having expired, make and execute to such person or persons a deed or deeds to the said property purchased, which said deed or deeds shall be in the ordinary form of a conveyance, and shall be signed. acknowledged and delivered by the said Public Trustee, as grantor, and shall convey and quitclaim to such person or persons entitled to such deed, as grantee, the said property purchased as aforesaid and all the right, title, interest, benefit and equity of redemption of the part y of the first rnirt. its heirs and assigns therein, and shall recite the sum or sums for which the said property was sold and shall refer to the Power of sale therein contained, and to the sale or sales made by virtue thereon and in case of an assignment of such certificate or certificates of purchase, or in case of the redemption of such property, by a subsequent encumbrancer, such assignment or redemption shall also be referred to in such deed or deeds; but the notice of sale need not be set out in such dad or deeds and the said Public Trustee shall, out of the proceeds or avails of such sale, after first paying and retaining all fees, charges and costs of making said sale, pay to the beneficiary hereunder or the legal holder of said note the principal and interest due on said note according to the tenor and effect thereof. and all moneys advanced by such beneficiary or legal holder of said note for insurance, taxes and assessments, with interest thereon at 12 per cent per annum, rendering the overplus, if any. unto the said party of the first par I. its legal representatives or assigns: which sale or sales and said deed or deeds so made shall be a perpetual bar, both in law and equity, aWdnst the said part y of the first part, its heirs and assigns, and all other persons claiming the said property, or any part thereof, by, from, through or under said part ty of the first part, or any of them. The holder or holders of said note or notes may purchase said property or any part thereof: and it shall not be ohliea ory upon the purchaser or purchasers at any such sale to see to the application of the purchase money. If a release deed be required, it is agreed that the part y of the first part. its heirs or assigns, will pay the expense thereo(. No. 3.11-A. Itev. c78—imr1) 0FTHt1%T(wit h "due an sale clause-4—I'uhlic Trustee—Iteceiver's (In use—Atturney'a Fees. —Copyright (0 1978 —11rail ford PubliAinse Co., 1846 Stout Street. Denver, Colorado (573-501 1) —6.79 And the" part y of the firsy.,4(nr itself and for 1` heirs, executors and administrators coverunts and agree S to and with the said party of the second part. that at the time of the ensealing of and delivery of these presents it is well seized orthe said land and tenements in fee simple, and ha S good right, full power and lawful authority to grant, bargain, sell and convey the same in the manner and form as aforcmid; hereby fully and absolutely waiving and releasing all rights and claims it Trey have in or to said lands, tenements, and property as a Homestead Exemption, or other exemption, under and by virtue ofany act tithe General Assembly of the State of Colorado, now existing or which may hereafter be passed in relation thereto and Ihat the same are free and clear of at liens and encumbrances whatever. except general taxes for 1981, payable January 1, 1982, and subsequent years' and the following of record: U.S. Patent Reservations, restrictions, easements, rights of way and protective covenants. and the above bargained property in the quiet and peaceable possession of the said party of the second part. his successors and assigns, against all and every person or persons lawfully claiming or to claim the whole or any part thereof, the said pan y of the first put shall and will Warrant and Forever Defend. Until payment in full of the indebtedness the party of the first part shall timely pay all taxes and assessments levied on the pro• petty: any and all amounts due on account of principal and interest or other sums on any senior encumbrances, if any; and will keep all im- provements that may be on said lands insured against any casualty loss, including extended coverage, in a company or companies meeting the net worth requirements of the beneficiary hereof in an amount not less than the then total indebtedness. Each policy shall contain a loss payable clause naming the beneficiary as mortgagee and shall further provide that the insurance may not be cancelled upon less than ten days written notice to the beneficiary. At the option of the beneficiary, the original policy or policies of insurance shall be delivered to the beneficiary as further security for the indebtedness. Should the part Y of the first part fail to insure and deliver the politics or to pay taxes or assessments as the same fall due, or to pay any amounts payable upon senior encumbrances, if any. the beneficiary may make any such payments or procure any such insurance, and all monies so paid with interest thereon at We rate of 12 ^'o per annum shall be add- ed to and become a part of the indebtedness secured by this Deed of Trust and may be paid out of the proceeds of the sale of the properly if not paid by the part y of the first part. In addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of trust to be in default for failure to procure insurance or make any of the payments required by this paragraph. If all or any part of the property or an interest therein is sold or transferred by First part y without beneficiary's prior written consent, excluding (a) the creation of alien or encumbrance subordinate to this Deed of Trust, (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise, descent or by operation oflawupon the death ofajointtenant or (d) the grant ofany leasehold interest ofthree years or less not contairtingan option to purchase, henef¢iary may, at beneficiary s option, declare all the sums secured by this Deed of Trust to be immediately due and payable. Beneficiary shall have waved such CT to eccelemwif, prior to the sale or transfer, beneficiary and the person to whom the property is to be sold or transferred reach agreement in writing i hat the credit of such person is satisfactory to beneficiary and that the interest payable on the sums secured by this Deed of Trust shall beat such rate as beneficiary shall request. AND THAT IN CASE OF ANY DEFAULT, Whereby the right of foreclosure Occurs hereunder. the same party of the second put or the holder of sad note or certificate of purchase, shall at once become entitled to the possession. use and enjoynum of the property aforesaid, and to the rents, issues and profits thereof. from the accruing of such right and during the pendency of foreclosure proceedings and the period of redemption, if any there be; and such possession shall at once be delivered to the said party ofthe second part or the holderof said note or certificate of purchase on request, and on refusal, the deliveryo(such possession may be enforced by the said party of the second pan or the holderofsad note or certificate of purchase by any appropriate civil suit or proceeding. and the said party of the second pal, or the holder of said note or certificate or purchase, or any theme(. shall be entiUed to a Receiver for said property, ail of the mms, issues and profits thereof, after such defaull, including the time covered by foreclosure proceedings and the PC rind of redemption, if my there be, and shall be entided thereto as a matter of right without regard to the solvency or insolvency of the put y critic first put or of the then owner of mid property and without regard to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex ryparvste application and withoulaotice—nmice being hereby expressly uaived_sndill rems, iss es and profits, income and revenue therefrom shall be applied by such Receivu to Ibe payment ofthe indebtedness hereby secural according to the law and the orders and directions of the court. AND, That in case of default in any or mid payments of principal or interest, according to the tenor and effect of mid promissory note aforesaid, or any of them, or any part thereof. or of a bru ch or violation of tiny of the covenants or agreemen6 herein. by the party of the first pan, its executors, administmtors or assigns, then and in that case the whole of said principal sum hereby secured, and the interest thereon to the time ofthe sale, may at once, at the option ofthe legal holder thereof, become due and payable, and the said ptuperty be sold in the manna and with the same effect as if said indebtedness had matured, and that if foreclosure be made by the public Trustee, an attorney's fce of the sum of a reasonable amount 2fd XItrorwrviees in the supervision ofmid foreclosurepnoccedings shag be allowed by the Public Trustee as a pat t of the cost of foreclosure. and d foreclosurche made through the courts a reasonable attomey's fec shall be lazed by the court as a put of the costs or such foreclosurc proceedings. Should any provision of this Deed o(Trusl be found to violate the statutes or court decisions of the Suit ofColorado, orof the United States, such provision shill he dwmod to bc amended to comply with and conform to such statutes and decisions. IN WffNFSS WI DEREOF, The said part y of the first part haS hcreumoset its hand and seal the day and year first above written. WITNESS: PARTNERSHIP, a F. Gregory A. Kraft', (SEALI M on ISEALI a &AA0 A}Fafnl�t IA W1^r \ark STATE OF COLORAA,D,O. The foregoi gmstnnmenl as acknowledged before me this,:`pit it.. �,"•• --County or. ru/�ss. day of yalr� l9�. by Ronald Ra`'\J,4tr+ a- n (/ W devel S Gregory A. Kraft as r exs:o` Edwys V7, ale ar n rs i a o a y commission exp es - Witness my ha and official seal. Y _ � O mW-fTublic..- t O O U W a x z raw- O Y T 0 n 3 � e 5 e C O 0 0 T E 2 2 < o -e o u ra o G C 0 u a a U c n a LuLu U ro u F rn u` " 0 E E y o a v s $ E z< o E .r u. t� (A4I