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The in int ad punions of this form except differentiated addition; have been approved by the Colorado Real Estate Commission (TD72-8-10)(tvlandatory 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 CHENOWE'TH(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 /> '1RACT#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, S 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, SPRINGFIELD, 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 /> S.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 Borrowers 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 /> around rents. if anv. in the manner¢At not i„ 9 ')z M'—.,,,., >:'.• A. c- -• T------
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