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1 Tha printed portions of this form,except differentiated additions,have been approved by the Colorado Real Estate Commission.
<br /> 2 (TD72-8-10)(Mandatory 1-11)
<br /> 3
<br /> 4 IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION,CONSULT LEGAL COUNSEL.
<br /> 5 THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL,TAX OR OTHER COUNSEL SHOULD BE CONSULTED
<br /> 6 BEFORE SIGNING.
<br /> 7
<br /> 8 DEED OF TRUST
<br /> 9 (Due on Transfer—Strict)
<br /> 10
<br /> 1 I THIS DEED OF TRUST is made this 132h day of Juae 2012 .between Luke aw Duke,uc
<br /> 12 (Borrower),whose address is.980 God'Road 120,NaapenM,Cobrado 81326
<br /> 13 and the Public Trustee of the County in which the Property(see§ 1)is situated(Trustee);for the benefit of Micheal R.Threadgm
<br /> 14 (Lender),whose address is �•p sox 1t6tr
<br /> 15 aumMl,Tersa7861t
<br /> 16
<br /> 17 Borrower and Lender covenant and agree as follows:
<br /> 18 1. Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein created, hereby
<br /> 19 grants and conveys to Trustee in trust,with power of sale,the following legally described property located in the
<br /> 20 County of Le Pia .State of Colorado:
<br /> 21 22 See Addendum A attached hereto and incorporated herein by reference
<br /> 23
<br /> 24 known as No. (Property Address),
<br /> 25 Street Address City State Zip
<br /> 26 together with all its appurtenances(Property).
<br /> 27 2. Note: Other Obligations Secured—This Deed of Trust is given to secure to Lender:
<br /> 28 2.1. the repayment of the indebtedness evidenced by Borrower's note(Note)dated Juno 13,2ot2 in the
<br /> 29 principal sum of S—t%LyFWa Ttk--d Dollars(U.S.•$75-000•m ),
<br /> 30 with interest on the unpaid principal balance from dale until paid, at the rate of me(a) percent per
<br /> 31 annum,with principal and interest payable at (aBe Nate)
<br /> 32 or such other place as Lender may designate,in payments of-
<br /> 33 Dollars(U.S.$ ),due on the day of each beginning such
<br /> 34 payments to continue until the entire indebtedness evidenced by said Note is fully paid; however,if not sooner paid, the entire
<br /> 35 principal amount outstanding and accrued interest thereon shall be due and payable on : and
<br /> 36 Borrower is to pay to Lender a late charge of s o of any payment not received by Lender within 90 days after payment
<br /> 37 is due;and Borrower has the right to prepay the principal amount outstanding under said Note,in whole or in part,at any time without
<br /> 38 penalty except No EX-POW0 i
<br /> 39 2.2. the payment of all other sums,with interest thereon at %per annum,disbursed by Lender in accordance
<br /> 40 with this Deed of Trust to protect the security of this Deed of Trust;and
<br /> 41 2.3. the performance of the covenants and agreements of Borrower herein contained.
<br /> 42 3. Title. Borrower covenants that Borrower owns and has the right to grant and convey the Property,and warrants title to
<br /> 43 the same, subject to general real estate taxes for the current year,easements of record or in existence, and recorded declarations,
<br /> 44 restrictions,reservations and covenants,if any,as of this date;and subject to wA
<br /> 45 4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br /> 46 indebtedness evidenced by the Note,and late charges as provided in the Note and shall perform all of Borrower's other covenants
<br /> 47 contained in the Note.
<br /> 48 S. Application of Payments. All payments received by Lender under the terms hereof shall be applied by Lender first in
<br /> 49 payment of amounts due pursuant to§23(Escrow Funds for Taxes and Insurance),then to amounts disbursed by Lender pursuant
<br /> 50 to§9(Protection of Lender's Security),and the balance in accordance with the terms and conditions of the Note.
<br /> 51 6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under
<br /> 52 any prior deed of trust and any other prior liens.Borrower shall pay all taxes,assessments and other charges,fines and impositions
<br /> 53 attributable to the Property which may have or attain a priority over this Deed of Trust,and leasehold payments or ground tents,if
<br /> 54 any, in the manner set out in §23 (Escrow Funds for Taxes and,Insurance) or, if not required to be paid in such manner, by
<br /> 55 Borrower making payment when due,directly to the payee thereof.Despite the foregoing,Borrower shall not be required to make
<br /> 56 payments otherwise required by this section if Borrower,after notice to Lender,shall in good faith contest such obligation by,or
<br /> 57 defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of the obligation or
<br /> TD7"-10, DEED OF TRUST(Do*an Transfer—Strict) page iors
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