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oLo Kt/(, <br />M a0na- 0qq <br />The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission <br />(TD72-8-1 0) (Mandatory 1 -11) <br />IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. <br />THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL <br />SHOULD BE CONSULTED BEFORE SIGNING. <br />DEED OF TRUST <br />(Due on Transfer - Strict) <br />THIS DEED OF TRUST is made this August 27. 2014, between Leonard J. Williams (Borrower), whose address <br />is P.O. Box 704 35550 CR 4000 Road Norwood CO 81423 ; <br />and the Public Trustee of the County in which the Property (see § 1) is situated (Trustee); for the benefit of <br />Marilyn C. Michals -Allen (Lender), <br />whose address is <br />P.O. Box 1166 Norwood CO 81423 <br />Borrower and Lender covenant and agree as follows: <br />1. Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein <br />created, hereby grants and conveys to Trustee in trust, with power of sale, the following described property located <br />in the County of Montrose, State of Colorado: <br />See Exhibit A attached hereto and made a part hereof. <br />known as No. vacant land, Redvale, CO 81431 (Property <br />Address), <br />Street Address <br />City <br />State Zip <br />together with all its appurtenances (Property). <br />2. Note; Other Obligations Secured. This Deed of Trust is given to secure to Lender: <br />2.1. the repayment of the indebtedness evidenced by Borrower's note (Note) dated JULY 30, 2014 <br />in the principal sum of SIXTY THOUSAND NO /100THS Dollars (U.S. $60.000.00), with interest on the unpaid <br />principal balance from AUGUST 27, 2014, until paid, at the rate of 5 percent per annum, with principal and interest <br />payable at P.O. Box 1166, Norwood, CO 81423 or such other place as Lender may designate, in MONTHLY <br />payments of ONE ONE HUNDRED THIRTY TWO AND 27/100 Dollars (U.S. $1,132.27) due on the 30TH day of <br />each MONTH beginning SEPTEMBER 30.2014; such payments to continue until the entire indebtedness evidenced <br />by said Note is fully paid; however, if not sooner paid, the entire principal amount outstanding and accrued interest <br />thereon, shall be due and payable on , AUGUST 30, 2019; and Borrower is to pay to Lender a late charge of 5% of <br />any payment not received by Lender within 15 days after payment is due; and Borrower has the right to prepay the <br />principal amount outstanding under said Note, in whole or in part, at any time without penalty except NONE. <br />2.2. the payment of all other sums, with interest thereon at 9% per annum, disbursed by Lender in <br />accordance with this Deed of Trust to protect the security of this Deed of Trust; and <br />2.3. the performance of the covenants and agreements of Borrower herein contained. <br />3. Title. Borrower covenants that Borrower owns and has the right to grant and convey the Property, and <br />warrants title to the same, subject to general real estate taxes for the current year, easements of record or in <br />existence, and recorded declarations, restrictions, reservations and covenants, if any, as of this date; and subject to <br />N/A <br />4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and <br />interest on the indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all of <br />Borrower's other covenants contained in the Note. <br />5. Application of Payments. All payments received by Lender under the terms hereof shall be applied <br />by Lender first in payment of amounts due pursuant to § 23 (Escrow Funds for Taxes and Insurance), then to <br />TD72 -8-10. DEED OF TRUST (DUE ON TRANSFER— STRICT) Page I of 7 <br />Escrow No. F0487990- 397DGO <br />Error! Not a valid filename. <br />