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DEE OF TRU~7~ <br />(AssumabQe - Not Due on a e) <br />THIS DEED OF TRVST is made this 15th day of October, 2DD3 ba Cween Owens Brothers <br />Concre to Company, a Colorado eorlaoration <br />(Borrower), <br />whose address is 5550 Sheridan Blvd., Arvada, CO 80002 ; and the Public Trustee of <br />the County in which the Property (see paragraph 1) is situated (Trustee); for the <br />benefit of Ralph Nix Produce, Inc., a Colorado corporation (Lender), whose address ie <br />16959 WCR 44, Gilcrest, CO 80627, <br />Borrower and Lender covenant and agreo as follows: <br />1. Property in Trust. Borrower, in consideration of the indebtedness heroin <br />recited and the trust herein created, hereby grants and conveys to Trustee in true t, <br />with power of sale, the following descrihed property located in rho County of <br />Wald, State of Colorado: <br />SEE EXHIBITS "A", "D", "C", "D", "$", !'P" ATTACHED BERET MADE PART HEREOF <br />which has the address of Vacant Land, Colorado <br />(Property Address) together with all its appurtenances (Property) <br />2. Note; other Obligations secured. This Deed of Trust is given to secure to <br />Lender: <br />A. the repayment of the in deb tedneae evidenced by Borrower's note (Note) dated October <br />25, 2001, in the principal sum of $1,732,050.00 U.S. Dollars, with interest on the <br />unpaid principal balance from October 25, 2001, until paid, at the rate of 8.0 <br />percent per annum, with principal and interest payable at 16959 WCR44, Gilcrest, CO <br />80627 <br />or such other place as the Lender may designate, Monthly in payments of $14,487.57 <br />Dollars (U.B.S FOVRTEEN THOVSAND FOUR HUNDRED EIGHTY SEVEN AND 57/100) due on the 25th <br />day of each Month beginning November 25, 2001; such payments to Continue until the <br />eniira indebtedness evidenced by said Note is fully paid; however, iE not sooner paid, <br />the entire principal amount outstanding and accrued interest thereon, shall be due and <br />payable on October 25, 2011; <br />and Borrower is to pay to Lender a late charge of 5.0 } of any payment not received by <br />the Lander within 10 days after payment is due; and Borrower has the right to prepay <br />Cha principal amount Data tending under said Note, in whole or in part, at any time <br />without penalty except no prepayment penalty. <br />e. the payment of all other sums, with interest thereon at 12.0 } per annum, disbursed <br />by Lander in accordance with this Dead of Trust to pre tact the security of this Deed <br />of Trust; and <br />C. the performance of the covenanto and agreeiaents of eorzower herein contalned. <br />3. Title. Borrower covenants that Borrower owns and has the right to grant and <br />convey the Property, and warrants title to the same, aubj ect to general real as tats <br />taxes for the current year, easements of record or in exia tents, and recorded <br />declarations, ras trictiona, reservations and covenants, if any, as of this data and <br />except <br />4. Payment of Principal and In tar est. Borrower shall promptly pay when due the <br />principal of and interest on the indebtedness evidenced by the Nota, end late charges <br />as provided in the Note and shall perform all of Borrower's other covenants contained <br />in the Nota. <br />5. Application of Payments. All payments received by Londer under Che terms <br />hereof shall he applied by Lender first in payment of amounts due pursuant to <br />paragraph 23 (Escrow Funds for Taxes and Insurance), then to amounts disbursed by <br />Lender pursuant to paragraph 9 (Protection of Lendez'e 5acurity), and the balance in <br />accordance with the terms and conditions of the Note. <br />