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23. Escrow Funds for Taxes and Insurance. This§23 is not applicable if Funds as defined below are being paid <br /> pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender on each day installments of principal <br /> and interest are payable under the Note, until the Note is paid in full, a stun (herein referred to as "Funds") equal to n/a of the <br /> yearly taxes and assessments which may attain priority over this Deed of Trust, plus n/a of yearly premium installments for <br /> Property Insurance, all as reasonable estimated initially and from time to time by Lender on the basis of assessments and bills and <br /> reasonable estimates thereof,taking into account any excess Funds not used or shortages, The principal of the Funds shall be held <br /> in a separate account by the Lender in trust for the benefit of the Borrower and deposited in an institution the deposits or accounts <br /> of which are insured or guaranteed by a federal or state agency. Lender shall apply the Funds to pay said taxes, assessments and <br /> insurance premiums. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and <br /> compiling said assessments and bills. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender <br /> shall give to Borrower,without charge,an annual accounting of the Funds showing credits and debits to the Funds and the purpose <br /> for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of <br /> Trust. if the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments and insurance premiums as they <br /> fail due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is given <br /> in accordance with § 16(Notice)by Lender to Borrower requesting payment thereof. Provided however,if the loan secured by this <br /> Deed of Trust is subject to RESPA or other laws regulating Escrow Accounts, such deficiency, surplus on any other required <br /> adjustment shall be paid,credited or adjusted in compliance with such applicable laws.Upon payment in full of all sums secured by <br /> this Deed of"Trust, Lender shall simultaneously refund to Borrower any Funds held by Lender. If under § 18 (Acceleration; <br /> Foreclosure; Other Remedies) the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later <br /> than immediately prior to the sale of the Property or its acquisition by Lender,whichever occurs first, any Funds held by Lender at <br /> the time of application as a credit against the sums secured by this Deed of Trust. <br /> 24. Transfer of the Property; Assumption. The following events shall be referred to herein as a"Transfer": (i)a <br /> transfer or conveyance of title(or any portion thereof, legal or equitable) of the Property(or any part thereof or interest therein); <br /> (ii) the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable)in the Property(or <br /> any part thereof or interest therein); (iii) or an agreement granting a possessory right in the Property (or any portion thereof), in <br /> excess of 3 years;(iv)a sale or transfer of,or the execution of a contract or agreement creating a right to acquire or receive,more <br /> than fifty percent(50%) of the controlling interest or more than fifty percent(50%)of the beneficial interest in Borrower,and(v) <br /> the reorganization, liquidation or dissolution of Borrower. Not to be included as a Transfer are (x) the creation of a lien or <br /> encumbrance subordinate to this Deed of Trust; (y)the creation of a purchase money security interest for household appliances,or <br /> (z) a transfer by devise, descent or by operation of the law upon the death of joint tenant. At the election of Lender, in the event of <br /> each and every Transfer: <br /> 24.1. All sums secured by this Deed of Trust shall become immediately due and payable(Acceleration). <br /> 24.2. If a Transfer occurs and should Lender not exercise Lender's option pursuant to this § 24 to Accelerate, Transferee <br /> shall be deemed to have assumed all of the obligations of Borrower under this Deed of Trust including all sums secured hereby <br /> whether or not the instrument evidencing such conveyance, contract or grant expressly so provides. This covenant shall run with <br /> the Property and remain in full force and effect until said sums are paid in full. Lender may without notice to Borrower deal with <br /> Transferee in the same manner as with Borrower with reference to said stuns including the payment or credit to Transferee of <br /> undisbursed reserve Funds on payment in full of said sums, without in any way altering or discharging Borrower's liability <br /> hereunder for the obligations hereby secured. <br /> 24.3. Should Lender not elect to Accelerate upon the occurrence of such Transfer then, subject to § 24.2 above,the mere <br /> fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Lender had actual or <br /> constructive notice of such Transfer, shall not be deemed a waiver of Lender's right to make such election nor shall Lender be <br /> estopped therefrom by virtue thereof. Tile issuance on behalf of the Lender of a routine statement showing the status of the loan, <br /> whether or not Lender had actual or constructive notice of such Transfer,shall not be a waiver or estoppel of Lender's said rights. <br /> 25. Borrower's Copy. Borrower acknowledges receipt of a copy of tile Note and this Deed of Trust. <br /> ROBINSON SONS <br /> INC <br /> (( <br /> DANIEL P. ROBINSON, .u,Gw <br /> STATE OF COLORADO ) <br /> ss. <br /> COUNTY OF LAS ANIMAS )'fhe foregoing instrument was acknowledged before me thisle�z day of <br /> by U' <br /> DANIEL P. ROBINSON, ROBINSON SONS rl;C <br /> Witness my 4and and if icial seal'. -r' <br />