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48 Together with all improvements now or hereafter erected on the
<br /> 49 property, and all easements, rights, appurtenances, rents (subject
<br /> 50 however to the rights and authorities given herein to Lender to
<br /> 51 collect and apply such rents), royalties, minerals, oil and gas
<br /> 52 rights and profits, all of which, including replacements and
<br /> 53 additions thereto, shall be considered affixed to and a part of the
<br /> 54 property above described, and pursuant to Colorado Revised
<br /> 55 Statutes §4-9-502, as amended, Grantor agrees that if Lender so
<br /> 56 elects he may proceed as to both the real estate and the fixtures
<br /> 57 above described in accordance with his rights and remedies in
<br /> 58 respect of the real property and may purchase at the sale and
<br /> 59 thereafter hold the above described fixtures free of any other
<br /> 60 requirements of Article 9 of the Uniform Commercial Code as
<br /> 61 adopted by the State of Colorado.
<br /> 62
<br /> 63 This is a purchase money deed of trust.
<br /> 64
<br /> 65 known as Alamosa County Road 106 South Alamosa, CO 81101 (Property
<br /> 66 Address),together with all its appurtenances(Property).
<br /> 67
<br /> .This Deed of Trust is given to secure to Lender:
<br /> 68 2. Note: Other Obligations Secured
<br /> 69 A. the repayment of the indebtedness evidenced by Borrower's note (Note)dated
<br /> 70 May 1, 2016, in the principal sum of One Hundred Fifty Thousand and No/100ths Dollars
<br /> 71 (U.S. $ 150,000.00 ),with interest at a variable rate as set forth in the Note from May 1,2016,
<br /> 72 at an initial rate of Five and No/100ths percent(5.0%) per annum, payable at 9042 County Road
<br /> 73 106 South,Alamosa, CO 81101, or such other place as Lender may designate, in initial monthly
<br /> 74 installments of Nine Hundred Eighty Nine and 93/100ths Dollars ($989.93)commencing June 1,
<br /> 75 2016. The entire amount of principal and interest then unpaid is due May 1, 2036.
<br /> 76 B. the payment of all other sums,with interest thereon at 5.0% % per
<br /> 77 annum, disbursed by Lender in accordance with this Deed of Trust to protect the security of this Deed
<br /> 78 of Trust; and
<br /> 79 C. the performance of the covenants and agreements of Borrower herein
<br /> 80 contained.
<br /> 81 3. Title. Borrower covenants that Borrower owns and has the right to grant and convey
<br /> 82 the Property, and warrants title to the same, subject to general real estate taxes for the current year,
<br /> 83 easements of record or in existence, and recorded declarations, restrictions, reservations and
<br /> 84 covenants, if any, as of this date; and subject to n/a
<br /> 85 4. Payment of Principal and Interest. Borrower shall promptly pay when due the
<br /> 86 principal of and interest on the indebtedness evidenced by the Note, and late charges as provided in
<br /> 87 the Note and shall perform all of Borrower's other covenants contained in the Note.
<br /> 88 5. Application of Payments. All payments received by Lender under the terms hereof
<br /> 89 shall be applied by Lender first in payment of amounts due pursuant to paragraph 23 (Escrow Funds
<br /> 90 for Taxes and Insurance),then to amounts disbursed by Lender pursuant to paragraph 9 (Protection
<br /> 91 of Lender's Security), and the balance in accordance with the terms and conditions of the Note.
<br /> 92 6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all
<br /> 93 of Borrower's obligations under any prior deed of trust and any other prior liens. Borrower shall pay all
<br /> 94 taxes, assessments and other charges,fines and impositions attributable to the Property which may
<br /> 95 have or attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the
<br /> 96 manner set out in paragraph 23 (Escrow Funds for Taxes and Insurance)or, if not required to be paid
<br /> 97 in such manner, by Borrower making payment when due, directly to the payee thereof. Despite the
<br /> 98 foregoing, Borrower shall not be required to make payments otherwise required by this paragraph if
<br /> 99 Borrower, after notice to Lender, shall in good faith contest such obligation by, or defend enforcement
<br /> 100 of such obligation in, legal proceedings which operate to prevent the enforcement of the obligation or
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