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<br />DEED OF TRUST
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<br />111111I111111111111111111111111111111111111111111111111
<br />6!7972 11/22/1999 12,!2P 8101& P93& DT
<br />1 of 6 R 30.00 D 0.00 N 0.00 REC nONTROSE CO
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<br />~Recordedat
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<br />RctePlionNo.
<br />
<br />o'clock_M.,
<br />
<br />THISINDENTURE,M,doth;, 15th cloyof November .19 99 ._
<br />Daniel A. and Jacqueline P. Sherwood, individuall\
<br />and as trustees of the Daniel A. and Jacqueline P.
<br />Snerw;ood Trust U1A DTD Decemberc6, 1995 ("'Debtors')
<br />wlibsellddress IS .
<br />13221 Marine Drive, Montrose, CO 81401
<br />hereinafter referred to as grantor, and the Public Trustee of the .Countyof
<br />MOn trose ,Slale of Colorado, hereinafter referred to as Public 'Iiustee,
<br />WITNESSETH. THAT, WHEREAS, Debtors
<br />
<br />has executcd a promiSSOry notc or noteS,hcrelnafier referred to in tbesingular,dattd
<br />principal sum or Three Hundred Fifty Thousand
<br />payablc to the ordcr of Raymond F. Thompson
<br />
<br />November
<br />and 00/100
<br />
<br />15, 1999
<br />U.S.----------
<br />
<br />,forthe
<br />Dollars,
<br />
<br />whose address is P.O.
<br />
<br />BoX 518, Glenwood Springs, co 81602 as provide'
<br />afterthedatehereor.withinteresttherconttonrt1ie~~
<br />percent per annum, payable pursuant to the terms of said note.
<br />
<br />~lil6~~tfd ,no.:l::e
<br />
<br />. .
<br />, AND WHr;REA$;i~ grantor is desirous ofsceuring payment of the principal aDd interest ohaid p,romissory note in whose hands soever the said
<br />notemaybc.
<br />NOW THEREfORE, the grantor, in oonsideration of the premises and for the purpose aforesaid, does heteby grant, bargain, sell and convey unto
<br />tlle said Public li'ustee in trust forever, the following described property, sitll.ate in the County of
<br />Montrose ,State of Colorado, to wit:
<br />
<br />The property description is set forth on Exhibit A which is
<br />attached hereto and incorporated herein
<br />
<br />also known by street and number as
<br />TO HAVE ANDTO HOLD theflmc, togctherwith all andaingularthe privileges andappurtenances thereunto belonging: In trustncvmheless, that
<br />in case of default in the payment ofaaid llote or any part thetCOf, orin the payment of the interest the~ according to the tenor and effect of said note, or in
<br />the payment of any prior eneumbRnOCS, principal or intereSt, if any, or in <:asc default shall be made in or in case of violation or bl'CllCh of any of the tenDs..
<br />conditions, OO\Il:nants or agrecmcnts beRin oontained, the beneficiary hereunder or the legal holder of.he indebtedness secured hereby may declare a
<br />violation of any of the covenants herein contained and may elect to advertise said property for sale, alId demand such sale by liIing a notice of election and
<br />demand for sale with the Public ltustee. Upon receipt ofsueb notice of election and demand. for sale, the Public ltustr:e shall cause a copy of the same to be
<br />recorded. in the rccotder's oiiice ofthc ooUnty In whidl said property is situated. The Public Trustee sb81l then give pUbl!c notice of the time and plact of sale
<br />by advertisement to bepublishcd fot fourweeks (once each week for five successive WC(!ks) in some newspaperofgencral circulation at that time published
<br />in the OOUllty orcounties in which said property is located, A copy ofsuch nolice shall be: mailed within ten days after the date oflhe first publication thereof
<br />to thegrantorattheaddressgiven hercin, to such petSOtl8appeal'inglobJl.WlllCquired a subsequentr<<>>rdintercst in said properly at tbc llddressgivcnin the
<br />tttordtd itl~rument, and to any otber persollS as may be provided by law, It sball and may then be lawful for the Public lhIstee to seU said property forthe
<br />highest and best prict the same win bring in cash and to disPose of the sam~ (en masse orin.sepuate parceJs, as the said Public Trustee may think best),
<br />together with aU the right, dUe and interest of the grantor therein, at public auction at any place as may be specified by statute and designated in the notice of
<br />sa1e. The Public Trustee shaIl mala: and give to the purcltaserof such prol'Cftl at such sale, a certificate in writing containing; a description of such property
<br />purchasedi the sum paid therefor; a statement that said purcltaser shaU be entitled to a deed therefor, unless the sam" shall be redeemed as is provided by
<br />law; aod in the crn:nt ofa continuance of the sale, a recital that the sale was duly continued, The Public 1iustee shall, upon demand by the pmon holding the
<br />said certificate of purchase, whcn saidderlland is made orupon demand by the person mtitled to a deed to and for thll property purchased at the tittte.such
<br />demand is made, the time for redemption having Cltpired, make and ClteQlte 10 such person II deed to the said property purchased. Said deed shall be in the
<br />ordinary form of a conveyance, and shau be signed, acknowledscd and ddivered by the said Public Trustee and shall oonfinn the foreclosure sale and sell and
<br />convey to such person entitled to such deed, the property purchased as aforesaid and all the right, !ilk, interest, benefit and equity of redemption of the
<br />grantorthemn. The Public ThlSteeshaU, out of the proc.ecds oravails of such sale, aftet first paying and retaining aU fees, chlf8CS and oosts of making said
<br />sale, pay to the bllneficiary hereunder or the legal holder of said note, the principal and interest due OD said note according to the tenor llnd effect thereof, and
<br />aUmoneys lldvanced bysuch beDCficiaryorlegal holderofsaid note forinSUlBnce, taxes llnd8sses:sments. with interest thereonllt 15 perctnt per
<br />aonum, rendering th" overplus, ifany, unto those persons entitled thereto as a matter oflllW, Said sale and said deed so made shall be a perpetual bar, both in
<br />law and equity, qainst the grantor and aU otberpersons claiming the said property, or any part the~f, by, from, through or uDder the grantor, 1be bolder of
<br />said note may purdlase said propertyor any part theRof; and it shllll not be ob1i8alory upo,o. the purchUer at any such SllIe to see to thcapplication of the
<br />purchase money,
<br />
<br />-If In Dcnvu, insert "City lUKi",
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<br />No. 34JA. Rev. Jz..92, DEEDOFntrsT(PlI.uen.a.) Witt. o._Salea... c
<br />BnldSxdPubJiJbia& 114J~St.,Dcuvez; co 8020Z.-(303)29202500-3-9S
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