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387709 1131/2023 4:17 PM M celix
<br /> 2 of 7 R$43.00 D50.00 Alamose C, Clerk and Recorder
<br /> DEED OF TRUST
<br /> Loan No: 16028 (Continued) Page 2
<br /> for Lender's purposes only and shell not be construed to create any responsibility or liability on the part of Lender to Grantor or to
<br /> any other person. The representations and warranties contained herein are based on Grantor's due diligence in investigating the
<br /> Property for Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for Indemnity or
<br /> contribution in the event Grantor becomes liable for cleanup or other costs under any such laws;and 12) agrees to indemnify,
<br /> defend,and hold harmless Lender against any and all claims,losses,liabilities,damages,penalties,and expenses which Lender
<br /> may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any
<br /> use,generation,manufacture,storage,disposal,release or threatened release occurring prior to Grantor's ownership or interest
<br /> in the Property,whether or not the same was or should have been known to Grantor. The provisions of this section of the Deed
<br /> of Trust,including the obligation to indemnify and defend,shell survive the payment of the Indebtedness and the satisfaction and
<br /> reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any Interest in the Property,
<br /> whether by foreclosure or otherwise.
<br /> Nuisance,Waste. Grantor shall not cause, conduct or permit any nuisance nor commit,permit, or suffer any stripping of or
<br /> waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not
<br /> remove,or grant to any other party the right to remove,any timber,minerals(Including oil and gas),coal,clay,scoria,soil,gravel
<br /> or rock products without Lender's prior written consent.
<br /> Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Reel Property without Lender's
<br /> prior written consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements
<br /> satisfactory to Lender to replace such improvements with Improvements of at least equal value.
<br /> Lender's Right to Enter. Lender and Lander's agents and representatives may enter upon the Real Property at all reasonable
<br /> times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and
<br /> conditions of this Deed of Trust.
<br /> Compliance with Governmental Requirements. Grantor shell promptly comply with all laws,ordinances,and regulations,now or
<br /> hereafter In effect,of all governmental authorities applicable to the use or occupancy of the Property,Including without limitation,
<br /> the Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance,or regulation and withhold
<br /> compliance during any proceeding,including appropriate appeals,so long as Grantor has notified Lender in writing prior to doing
<br /> so and so long as,in Lender's sole opinion.Lender's Interests in the Property are not jeopardized. Lender may require Grantor to
<br /> post adequate security or a surety bond,reasonably satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shell do all other acts,in addition
<br /> to those acts set forth above in this section, which from the character and use of the Property are reasonably necessary to
<br /> protect end preserve the Property.
<br /> DUE ON SALE-CONSENT BY LENDER. Lender may,at Lender's option,declare immediately due and payable all sums secured by
<br /> this Deed of Trust upon the sale or transfer,without Lender's prior written consent,of all or any part of the Real Property,or any
<br /> interest in the Real Property. A 'sale or transfer'means the conveyance of Real Property or any right,title or interest in the Reel
<br /> Property; whether legal, beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale
<br /> contract,lend contract,contract for deed,leasehold Interest with a term greater than three(31 years,lease-option contract,or by sale,
<br /> assignment,or transfer of any beneficial interest In or to any land trust holding title to the Fleet Property,or by any other method of
<br /> conveyance of an Interest in the Real Property. If any Grantor is a corporation,partnership or limited liability company,transfer also
<br /> includes any restructuring of the legal entity(whether by merger,division or otherwise)or any change In ownership of more than
<br /> twenty-five percent(25%1 of the voting stock,partnership interests or limited liability company interests,as the case may be,of such
<br /> Grantor. However,this option shall not be exercised by Lender if such exercise Is prohibited by federal law or by Colorado law.
<br /> TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br /> Payment. Grantor shall pay when due (and in all events prior to delinquency)all taxes, special taxes, assessments, charges
<br /> (including water and sewer),fines and impositions levied against or on account of the Property,and shall pay when due all claims
<br /> for work done on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all
<br /> liens having priority over or equal to the interest of Lender under this Deed of Trust,except for the lien of taxes and assessments
<br /> not due and except as otherwise provided in this Deed of Trust.
<br /> Right to Contest. Grantor may withhold payment of any tax,assessment,or claim in connection with a good faith dispute over
<br /> the obligation to pay,so tong as Lender's interest in the Property is not jeopardized. If a lien arises or Is filed as a result of
<br /> nonpayment.Grantor shall within fifteen(15)days after the lien arises or,if a lien is filed,within fifteen(151 days after Grantor
<br /> has notice of the filing,secure the discharge of the lien,or if requested by Lender,deposit with Lender cash or a sufficient
<br /> corporate surety bond or other security satisfactory to Lender in en amount sufficient to discharge the lien plus any costs and
<br /> attorneys'fees,or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest,Grantor
<br /> shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall
<br /> name Lender as an additional obligee under any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or
<br /> assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the
<br /> taxes and assessments against the Property.
<br /> Notice of Construction. Grantor shall notify Lender at least fifteen 1151 days before any work is commenced,any services are
<br /> furnished,or any materials are supplied to the Property,if any mechanic's lien,materialmen's lien,or other lien could be asserted
<br /> on account of the work, services, or materials. Grantor will upon request of Lender furnish to Lender advance assurances
<br /> satisfactory to Lender that Grantor can and will pay the cost of such improvements.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring the Property are a part of this Deed of Trust.
<br /> Maintenance of Insurance. Grantor shalt procure and maintain policies of fire insurance with standard extended coverage
<br /> endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount
<br /> sufficient to avoid application of any coinsurance clause,and with a standard mortgagee clause in favor of Lender. Grantor shall
<br /> also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with
<br /> Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally,Grantor shall maintain
<br /> such other insurance,including but not limited to hazard,business interruption,and boiler insurance,as Lender may reasonably
<br /> require. Policies shall be written in form, amounts, coverages and basis reasonably acceptabie to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Grantor,upon request of Lender, will deliver to Lender from time to
<br /> time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be
<br /> cancelled or diminished without at least thirty(301 days prior written notice to Lender. Each insurance policy also shall include an
<br /> endorsement providing that coverage in favor of Lender will not be impaired in any way by any act,omission or default of Grantor
<br /> or any other person. Should the Real Property be located in an area designated by the Administrator of the Federal Emergency,
<br /> Management Agency as a special flood hazard area,Grantor agrees to obtain and maintain flood insurance,if available,for the
<br /> full unpaid principal balance of the loan and any prior liens on the property securing the loan,up to the maximum policy limits set
<br /> under the National Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the term of
<br /> the loan.Flood insurance may be purchased under the National Flood Insurance Program,from private insurers providing'private
<br /> flood insurance' as defined by applicable federal flood insurance statutes and regulations, or from another flood insurance
<br /> provider that Is both acceptable to Lender In Its sole discretion and permitted by applicable federal flood insurance statutes and
<br /> regulations.
<br /> Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of
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