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DEED OF TRUST
<br />Loan No: Eldred224 'Continued)
<br />202205427
<br />Page 6
<br />failure to pay taxes, death of all persons liable on the account, transfer of title or sale of the dwelling, creation of a
<br />senior lien on the dwelling without Lender's permission, foreclosure by the holder of another lien, or the use of
<br />funds or the dwelling for prohibited purposes. (D) An Event of Default occurs under the terms of the Credit
<br />Agreement. (E) If Borrower or Grantor are a corporation, limited liability company, or other entities, then it shall
<br />be an event of default under this Note if any change in ownership of twenty-five (25%) of the common stock or
<br />membership interest in the Borrower shall occur.
<br />RIGHTS AND REMEDIES ON DEFAULT. Subject to any applicable notice and cure provisions under Colorado
<br />law, if an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may exercise any
<br />one or more of the following rights and remedies:
<br />Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or
<br />together. An election by Lender to choose any one remedy will not bar Lender from using any other remedy. If
<br />Lender decides to spend money or to perform any of Grantor's obligations under this Deed of Trust, after Grantor's
<br />failure to do so, that decision by Lender will not affect Lender's right to declare Grantor in default and to exercise
<br />Lender's remedies.
<br />Accelerate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness immediately
<br />due and payable.
<br />Foreclosure. Lender shall have the right to cause all or any part of the Real Property, and Personal Property, if
<br />Lender decides to proceed against it as if it were real property, to be sold by the Trustee according to the laws of
<br />the State of Colorado as respects foreclosures against real property. The Trustee shall give notice in accordance
<br />with the laws of Colorado. The Trustee shall apply the proceeds of the sale in the following order: (a) to all costs
<br />and expenses of the sale, including but not limited to Trustee's fees, attorneys' fees, and the cost of title evidence,
<br />(h) to all sums secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled to
<br />the excess.
<br />UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and
<br />remedies of a secured party under the Uniform Commercial Code.
<br />Collect Rents. Lender shall have the right to take possession of and manage the Property and collect the Rents,
<br />including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the
<br />Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make
<br />payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably
<br />designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of
<br />Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in
<br />response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any
<br />proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by
<br />agent, or through a receiver.
<br />Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of
<br />the Property, with the power to protect and preserve the Property, to operate the Property preceding foreclosure or
<br />sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the receivership,
<br />against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the
<br />appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by
<br />a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. A receiver
<br />may be appointed by a court of competent jurisdiction upon ex parte application and without notice, notice being
<br />expressly waived,
<br />Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided
<br />above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall
<br />become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (1)
<br />pay a reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the demand of
<br />Lender.
<br />Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the
<br />Credit Agreement or by law.
<br />Sale of the Property. In exercising its rights and remedies, Lender shall be free to designate on or before it files a
<br />notice of election and demand with the Trustee, that the Trustee sell all or any part of the Property together or
<br />separately, in one sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion
<br />of the Property. Upon any sale of the Property, whether made under a power of sale granted in this Deed of Trust
<br />or pursuant to judicial proceedings, if the holder of the Credit Agreement is a purchaser at such sale, it shall be
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