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The printed portions of this fonn,except differentiated additions have been approved by the Colorado Real Estate Commission TD72-8-10 (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 SHOULD BE CONSULTED BEFORE
<br /> SIGNING.
<br /> DEED OF TRUST
<br /> (Due on Transfer- Strict)
<br /> THIS DEED OF TRUST is made this 15th day of February, 2012 between
<br /> ROBINSON SONS INC (Borrower),
<br /> whose address is 13600 COUNTY RD 13600,WESTON,CO 81087
<br /> and the Public Trustee of the County in which the Property(see § 1)is situated(Trustee);for the benefit of
<br /> BOB CHENOWETH AND BARBARA CHENOWETH(Lender),
<br /> whose address is P.O.BOX 44, SPRINGFIELD, CO 81087,
<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 legally described property
<br /> located in the County of Las Animas, State of Colorado:
<br /> TRACT#1,Wet Canyon Ranch
<br /> known as No. (Property Address),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)
<br /> dated February 15,2012,
<br /> in the principal sum of One Hundred Four Thousand dollars and Zero cents
<br /> U.S. Dollars, $104,000.00 with interest on the unpaid principal balance from March 1,2012,
<br /> until paid,at the rate of 5.5 percent per annum,with principal and interest,payable at:
<br /> P.O.BOX 44, SPRINGFIE A CO 81087, or such other place as the Lender
<br /> may designate,in 24 payments of One Thousand Nine Hundred Eighty Six dollars and Fifty Two cents
<br /> Dollars (US $1,986.52) due on the 1st day of each Month beginning
<br /> April 1,2012; 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
<br /> interest thereon,shall be due and payable on: March 1,2014;
<br /> and Borrower is to pay to Lender a late charge of 5% of any payment not received by the Lender
<br /> within 7 days after payment is due; and Borrower has the right to prepay the principal amount
<br /> 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 12% per annum,disbursed by
<br /> Lender in 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 existence,
<br /> and recorded declarations,restrictions,reservations and covenants,if any, as of this date; and subject to
<br /> 4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br /> indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all of Borrower's other covenants
<br /> contained in the Note.
<br /> 5.Application of Payments.All payments received by Lender under the terms hereof shall be applied by Lender first
<br /> in payment of amounts due pursuant to §23 (Escrow Funds for Taxes and Insurance), then to amounts disbursed by Lender
<br /> pursuant to§9(Protection of Lender's Security),and the balance in accordance with the terms and conditions of the Note.
<br /> 6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br /> under any prior deed of trust and any other prior liens. Borrower shall pay all taxes, assessments and other charges, fines and
<br /> impositions attributable to the Property which may have or attain a priority over this Deed of Trust, and leasehold payments or
<br /> ,A ground rents. if anv_ in the manner ePt nir,t in R ) !T.,e..r .,�„„a � ..- r .. _a ._______- . . .- -
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