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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, 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 /> 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 /> ground rents, if any, in the manner set out in § 23 (Escrow Funds for Taxes and Insurance) or, if not required to be paid in such
<br /> manner, by Borrower making payment when due, directly to the payee thereof. Despite the foregoing, Borrower shall not be
<br /> required to make payments otherwise required by this section if Borrower, after notice to Lender, shall in good faith contest such
<br /> obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of the
<br /> obligation or forfeiture of the Property or any part thereof, only upon Borrower making all such contested payments and other
<br /> payments as ordered by the court to the registry of the court in which such proceedings are filed.
<br /> 7. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured against loss by fire or hazards included within the term "extended coverage" in an amount at least equal to the lesser of(a)
<br /> Order Number:29265
<br /> TD72-8-10. DEED OF TRUST(DUE ON TRANSFER—STRICT)
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