The Idaho Springs siftings-news., 1916-10-27

And form ~ above 0ontioneA. ana -
trust to the seunty sisrk and reesrAsr
sees =: -: d.sS 81 trust 70 rsssr.sz
.i,1 the usssi ssrtificat. Of r.essd. the
register shall transmit the note ana
ased Of tFust And all other securities
shall thersupen pay to the anpliee:t
note. The state board Of land commits
the applicant An abstract OF title g
the land. certified to include the deed
Of trust. which said abstract shall aieo
~ deposited with the state treasurer in
| connection with the note and deed OF
| trust
Failure to pay any or all taxes when
| interest upon the said note in accord:
Anct with the terms of the note. shall
render the principal due and payable;
anything In the note or deed OF trust
to the contrary notwithstanding.
When loan has been made and the
borrower desire. to renew the same f0f
may be done in manner a. the loan was
made in the first instance. but no new
same down to tn. time Of extension.
nor examination of title prior to the
original loan. nor new deed Of trust
trust is to be given upon other lands
| The time of payment. without further
security. may be extended in writing to
was recorded. and before maturity Of
the claim, whom the state board of land
commissioners shall SO order. but such
extension OF time shall not operate to
release any security held. and lapse Of
time shall in no case be bar to any
action to recover any part of the school
shall II prevent the Introduction of evil
| dsnes In such action. any provision Of
the law to the contrary notwithstand-
All payments of either principal or
| interest upon loans. or Of any other
character, shall be made to the regis
missioners, who shall forthwith trans
nit the same to the treasurer with q
certificate showing the amount and the
and the treasurer shall forthwith In
dorss upon the note In proper form the
payment - made, and whom the debt
the note and deliver the note. abstract
| of title and deed OF trust and all other
securities to the register Of the state
| board of land com missionsrD; the reg
lister of the said board shall execute
and deliver request for the release
of such deed Of trust and return the
note, abstract and other securities to
the debtor and report the same to the
state board Of land commissioners At
its next meeting. which report shall be
carried into tho records Of the board.
The register of the state board Of
land commissioners shall also keep In
his office, in books to be provided fer
|
| Permanent Fund Accounts" in which
q memorandum of all notes. mortgages.
deeds Of trust: bonds. money and assets
| of every kind and description which
may come into his hands as such reg
lister and separate accounts Of princi-
pal and interest must be kept
Of any permanent fund loaned or in
terest thereon become due, the register
of the state board Of land commission
ers shall. by mail. at once notify the
| debtor to make payment thereof with
in thirty days. II such debtor shall
neglect to comply with such notice, the
commissioners shah report the same to
the attorney general. who shall imme-
diately bring action by foreclosure or
sary and Appropriate to recover the
same. and an injunction may issue
without bond and a receiver be ap-
Foreclosure of lands under deeds Of
trust given to the state In accordance
with the foregoing provisions, shall be
upon tn: b ..nH tern, and
| are prescribed by law for the fore
closure Of ordinary deeds of trust to
the public trustee and the state board
of land commissioners or any officer
or representative Of that board. or the
attorney general or any representative
OF r the att tor general. shall have the
said lands at such foreclosure sale, and
the same shall be subject to redemp-
ton in the same manner and under
like conditions as are lands sold under
deeds of trust In the ordinary course
| of business.
In the event that such lands shall
be- be bid d in in behalf of the state as
deeds shall be executed by the pub
lie trustee to the State of Colorado and
such such land shall thereafter be under the
of land conn issioners. subject to all
terms and conditions which now or
hereafter may apply BY law to public
such lands shall not constitute = part
of the public school land. but shall be
treated and considered as in manner
Hereinafter mentioned.
As soon AZ the deed from the public
| trustee shall issue to the state, the
same shall be placed on record in the
proper county and the state board of
land commissioners shall certify the
facts to the state board of equaliza-
ton, or such other officer, board or
bureau a. may hereafter have author
ity to make levies In behalf of the
state. giving the amount duo upon said
loan to the school fund. except that in
terest for this purpose shall be charged
per annum upon the principal amount
of said note. together with all taxes
due on said land as hereinafter pro-
vided, and the state board of equaliZa-
ton or such other officer. board or bu-
reau as may hereafter have authority
to make levies In behalf of the state,
| - thc hcAt "cStlhS WueES Inc
levy Of taxes for state purposes Is
made. include in said levy tax upon
all taxable property within the state,
of sufficient amount to reimburse the
school fund for the amount of said
loan. principal interest and costs, and
such tax. when collected. shall be, by
the state treasurer, credited to the
state school fund.
| All lands SO sold under foreclosure
and conveyed to the state by virtue
of such foreclosure by the public trus-
1 n NJ bA mt yryh b. L. ,atr
uated. shall be carried upon a separate
list properly designated by the state
| board of land commissioners and when
| the same are sold by the state board
of land commissioners, all moneys re-
ceived for the purchase of such land
shall be paid by the register of the
the treasurer of the State of Colorado
| and credited to the general fund of