|
The primed po loons aflhla form,except drfferenaa(ed additions,have been approved by the Colorado Real Estate Commission 4. Payment of Principal mad Interest Borrower shnII promptly pay when due the pr Inc IpaI of and Interest
<br /> (TD72-9-08)(Mandatory 1-09) T on the indebtedness evidenced by the Note,and late charges as provided in the Note and shall perform all of Bore ower's
<br /> IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION,CONSULT LEGAL COUNSEL. other covenants contained in the Note.
<br /> THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL,TAX OR OTHER COUNSEL S. Application of fPayments.All payments waragravcd by Lender under Funds
<br /> leans hereof shall be applied by
<br /> SHOULD BE CONSULTED BEFORE SIGNING. Lender first In payment of amounts due pmagral to paragraph'23(Escrow Funds for Taxes and Insurance),then to
<br /> amounts disbursed by Lender pursuant to paragraph 9(protection of Lender's Security),and(he balance in accordance
<br /> with the terms and conditions of the Note
<br /> DEED OF TRUST
<br /> (Due on Transfer-Strict) 6. Prior Mortgages and Deeds of Trust,Chnrges;Liens Bonowet 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,
<br /> THIS DEED OF TRUST is made;his_ day of__,_.___ 20 between______ fines acid impositions nllribuleble to the Property which may have in attain a priority over this Deed of Trust,and
<br /> leasehold payments or giound rents,if any,in the manner set out in paragraph 23(Borrow Funds For Taxes and
<br /> Insurance)or,if not is tuned to be paid in such manner,by Borrower making payment when duc,directly to the payee
<br /> _(Borrowei),whose address is thereof Despite the foregoing,Bor•rmvei shall not be required to make payments otherwise tequhed by this paragraph
<br /> _ all if Burrower,after notice to Lender,shall in good faith contest such obligation by,or defend enforcement of such
<br /> bi'ublic Trustee o fthe County in which the Pi operty(see paragi aph!)is situated(Ti ustee),for the benefit of obligation in,legal pt oceedings which opet ate to in event the enforcement of theobl Igauon or
<br /> whoseaddress is___ forfeiture of the Property or any part thereof,only upon Bonower making all such contested payments and other
<br /> payments as ordered by the court to the registry of the corn I in which such pro"edings arc filed.
<br /> Bonower and Lendet covenant and agree as follows: 7. Propat ly Insurance.Borrower shall keep the imptovemerus now existing or hereafter erected on the
<br /> Property insured against loss by fire or hazards included within the lei in"extended coverage"in an amount at least
<br /> 1. Properly In Trust.But rower,in consideration of the indebtedness herein recited and the trust herein equal to the lesser of(a)the insurable value of the Property or(b)an amount sul ficient to pay the sums secured by this
<br /> created,hereby grants and conveys to Trustee in trust,with power of sale,the following legally described property Deed of Trust as well as any prior encumbrances on the Property.All of the fin egoing shall be known as"Property
<br /> located in the ---County of_ State of Colorado. Insurance."
<br /> The normal fee carrier providing the insurance shall be qualified to write Property Insurance in Colorado unit shall
<br /> be chosen by Bou•ower subject to Lender's right to reject the chosen carrier lot reasonable cause.All nrsmance policies and
<br /> renewals thereof shall include a standard motigage clause in favor of Lender,and shall provide that the insurance carrier
<br /> known as 1Vo_—————————————————————————————— (Property shall notify Lender at least ten(10)days before cancellation,termination or any material change of coverage Insurance
<br /> Address), policies shall be Famished to Lender al ui before closing.Lender shall have the right to hold the pohcles and renewals thereof
<br /> In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender.Lender may make proof
<br /> Street Address,City,State,Zip olloss it not made promptly by Bmrowet.
<br /> Insurance proceeds shall be applied(o tesioralion or repair of the Properly damaged,provided such tesloralion or
<br /> together with all its appurtenances(Property). repair Is economically feasible and the security of this Deed of Trust is not thereby impaired If such restoration or repair is
<br /> not economically feasible or if the security orthis Deed of I cost would be impaired,the insuranec proceeds shall be applied
<br /> 2. Note;Other Obligations Secured.This Deed of Trust is given to secure to Lender to the sums secw ed by this Deed of'Trust,with the excess,it any,paid to Bonower.If the Properly is abandoned by
<br /> A the repayment ofthe indebtedness evidenced by Borrower's note(Note)dated------- BmTower,or if Borrower fails to respond to Lendet within 30 days from lire date notice is given in accordance with
<br /> in the principal sum of Dollars(U.S..$. _ paragraph 16(Notice)by Lender to Borrower(hut the insurance carter offeis to sortie a claim for atsuranco benefits,Lender
<br /> with interest on ilia unpaid principal balance from lentil paid,al the rate of Is authorized to collect and apply the insm once proceeds,at Lender's option,either to restoration or repair of the Property or
<br /> this Deed
<br /> percent per ammm,with principal and interest payableat _ _ to the sums secured o
<br /> or such other place as Lender may Any such application of proce"eeddss.
<br /> to principal shall not extend or postpone the due date of the installments referred
<br /> deli ,in_ payments of _ _ to in paingraphs4(Payment of Principal and Interest)and 23(Escrow Funds for Taxes and Insurance)or change the amount
<br /> P,tlate P Y of--- of such Installments.Notwithstanding anything herein to the contrary,if under paragraph Is(Acceleration;Foreclosure;
<br /> Dollars(U.S $ __ __)Joe on the day of each beginning__. Other Remedies)the Property is acquired by Lender,all right,title and interest of Borrower in and to any insurance policies
<br /> —————such payments to continue until the entire indebtedness evidenced by said Note is fully paid; and in and to the proceeds thereof resulting from damage to the Property prior to the sale or
<br /> however,if not sooner paid,the entire principal amount outstanding and acciured interest thereon,shall be due and
<br /> a ableon •and Borrower is to a to Lendera late charge %ofan payment not received b acquisition shall pass to Lender to the extent of the sums secured by this Deed ot'llusl immediately prior to such sale or
<br /> p y pay g Y P Y Y acquisition.
<br /> Lender within days after payment is due;and Botrowet has the right to prepay the principal amount outstanding All of(he rights cf Boffower and Lender hereunder with respee(lo insurance carriers,Insurance policies and insurance
<br /> undersaid Note,in wholeor in part,at any time without penalty except__ — proceeds are subject to the rights crony holder ofa prior deed or trust with respect to said insurance carriers,policies and
<br /> proceeds.
<br /> B. the payment ofall other sums,with interest thereon at--/per annum,disbursed by Lender in
<br /> accordance will)this Deed of Trust to protect the security of thus Deed of Ti usl;and R. Preservation and Mmhtfenance of Property. Bonowet shall keep the Property In good repair and shall
<br /> C. the per formance of the covenants and agreements of Borrower herein contained. not commit waste of permit Impairment or deledotation of the Property and shall comply with the provisions of any
<br /> 3. Title.Borrower covenants that Borrower owns and has the right to grant and convey the Property,and lease ifthis Deed of Trust is on a leasehold,130lrmvei shall perform all of Borrower's obligations under any
<br /> warrants title bathe same,subject to general rea I estate taxes for the current year,easements of record or in existence,
<br /> and recorded declinations,testricuons,reservations and covenants,ifany,as of this date;and subject to
<br /> _z I_
<br /> t
<br /> _20_
<br /> Exhibit 2 Exhibit 2
<br /> Page 50 of 65 Page 51 of 65
<br />
|