|
387709 1/31/2023 4:17 PM M 'elix
<br /> 6 of 7 R$43.00 D$0.00 Alamosa Cr :lerk and Recorder
<br /> DEED OF TRUST
<br /> Loan No: 16028 (Continued) Page 6
<br /> accepted by Lender in the State of Colorado.
<br /> Choice of Venue. If there Is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of
<br /> Alamosa County,State of Colorado.
<br /> No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is
<br /> given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a
<br /> waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shalt not prejudice or constitute a
<br /> waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust.
<br /> No prior waiver by Lender,nor any course of dealing between Lender and Grantor,shall constitute a waiver of any of Lender's
<br /> rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this
<br /> Deed of Trust, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent
<br /> instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of
<br /> Lender.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be Illegal,invalid,or unenforceable as
<br /> to any circumstance, that finding shall not make the offending provision illegal, Invalid, or unenforceable as to any other
<br /> circumstance. If feasible,the offending provision shall be considered modified so that it becomes legal,valid and enforceable. If
<br /> the offending provision cannot be so modified,it shall be considered deleted from this Deed of Trust. Unless otherwise required
<br /> by law,the illegality,invalidity,or unenforceability of any provision of this Deed of Trust shall not affect the legality,validity or
<br /> enforceability of any other provision of this Deed of Trust.
<br /> Successors and Assigns. Subject to any limitations stated In this Deed of Trust on transfer of Grantor's interest,this Deed of
<br /> Trust shall be binding upon and inure to the benefit of the parties.their successors and assigns. If ownership of the Property
<br /> becomes vested In a person other then Grantor,Lender,without notice to Grantor, may deal with Grantor's successors with
<br /> reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the
<br /> obligations of this Deed of Trust or liability under the Indebtedness.
<br /> Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br /> Waive Jury. All parties to this Dead of Trust hereby waive the right to any jury trial in any action,proceeding,or counterclaim
<br /> brought by any party against any other party.
<br /> Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of
<br /> the State of Colorado as to all Indebtedness secured by this Deed of Trust.
<br /> DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
<br /> specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of
<br /> America. Words and terms used in the singular shall include the plural,and the plural shall include the singular,as the context may
<br /> require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform
<br /> Commercial Code:
<br /> Beneficiary. The word"Beneficiary"means ALAMOSA STATE BANK,and its successors and assigns.
<br /> Borrower. The word "Borrower" means MORTENSEN'S LANDSCAPE & IRRIGATION, LLC end includes all co-signers and
<br /> co-makers signing the Note and all their successors and assigns.
<br /> Deed of Trust. The words"Deed of Trust"mean this Deed of Trust among Grantor,Lender,and Trustee, nd includes without
<br /> limitation all assignment end security interest provisions relating to the Personal Property and Rents.
<br /> Environmental Laws. The words "Environmental Laws' mean any and all state, federal and local statutes, regulations and
<br /> ordinances relating to the protection of human health or the environment, Including without limitation the Comprehensive
<br /> Environmental Response,Compensation,and Liability Act of 1980,as amended,42 U.S.C.Section 9601,et seq.I"CERCLA"1,
<br /> the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials
<br /> Transportation Act.49 U.S.C.Section 1801,et seq.,the Resource Conservation and Recovery Act,42 U.S.C.Section 6901,et
<br /> seq.,or other applicable state or federal laws,rules,or regulations adopted pursuant thereto.
<br /> Event of Default. The words°Event of Default'mean any of the events of default set forth in this Deed of Trust in the events of
<br /> default section of this Deed of Trust.
<br /> Grantor. The word"Grantor"means MORTENSEN'S LANDSCAPE&IRRIGATION,LLC.
<br /> Guarantor. The word'Guarantor'means any guarantor,surety,or accommodation party of any or all of the Indebtedness.
<br /> Guaranty. The word"Guaranty"means the guaranty from Guarantor to Lender,including without limitation a guaranty of all or
<br /> part of the Note.
<br /> Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or
<br /> physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the
<br /> environment when Improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled.
<br /> The words'Hazardous Substances"ere used In their very broadest sense and include without limitation any and all hazardous or
<br /> toxic substances,materials or waste as defined by or listed under the Environmental Laws. The term"Hazardous Substances"
<br /> also includes,without limitation,petroleum and petroleum by-products or any fraction thereof and asbestos.
<br /> Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes
<br /> affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property.
<br /> Indebtedness. The word"Indebtedness'means all principal,interest,and other amounts,costs and expenses payable under the
<br /> Note or Related Documents,together with all renewals of,extensions of,modifications of,consolidations of and substitutions for
<br /> the Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses
<br /> Incurred by Trustee or Lender to enforce Grantor's obligations under this Deed of Trust,together with interest on such amounts
<br /> as provided in this Deed of Trust. Specifically, without limitation, Indebtedness includes all amounts that may be indirectly
<br /> secured by the Cross-Collateralization provision of this Deed of Trust.
<br /> Lender. The word"Lender'means ALAMOSA STATE BANK,Its successors and assigns.
<br /> Note. The word "Note" means the promissory note dated January 31, 2023, in the original principal amount of
<br /> $375,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
<br /> consolidations of,end substitutions for the promissory note or agreement. The maturity date of the Note is January 31,2048.
<br /> Personal Property. The words"Personal Property'mean all equipment,fixtures,and other articles of personal property now or
<br /> hereafter owned by Grantor,and now or hereafter attached or affixed to the Real Property;together with all accessions,parts,
<br /> and additions to,all replacements of,and all substitutions for, any of such property;and together with all proceeds(including
<br /> without limitation all insurance proceeds and refunds of premiums)from any sale or other disposition of the Property.
<br /> Property. The word"Property'means collectively the Real Property and the Personal Property.
<br /> Real Property. The words"Real Property"mean the real property,interests and rights,as further described in this Deed of Trust.
<br /> Related Documents. The words "Related Documents" mean ell promissory notes, credit agreements, loan agreements,
<br /> environmental agreements,guaranties,security agreements,mortgages,deeds of trust,security deeds,collateral mortgages,and
<br />
|