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<br />999
<br />G,~ ~'/ c-~- `Deed ~f '`Tfe{St .~ `Public `Tfe{~tee .~
<br />/TF{IS DEED OF TRUST is a conveyance in (rust of real properly to the Public Trustee of the county in Colorado in which
<br />the Property describetl below is located. It has been siynetl and delivered by the"Debtor"to secltre the"Indebtedness" I
<br />Owing to Iht! "BCne Il Cl dry"
<br />THE SPECIIFIC TERMS OF THIS INSTRUMENT ARE:
<br />Debtor(s): (Give the name(s) and address(es) of each Debtor)
<br />J-RUDE, Inc., a corporation
<br />Benellctary(les): (Glue the name(s) and address(es) nl each Beneficiary)
<br />WALKER LAND AND CATTLE CORPORATION, a corporation
<br />irtdebledness: (Glue the date, amount. and maturity of the note(s); or the rlescrlption of other form of obligation; indi-
<br />cate if future advances are provldetl tor)
<br />$12,200.00 payable: $200.00 per month principal and interest until fully paid,
<br />:i,-st payment due February 15, 1989.
<br />Real Property Destrlptlon: (Include county and street address)
<br />NE'.~ of the NWT of Section 18, Township 23 South, Range 46 West
<br />of the 6th Principal Meridian, Prowers County, Colorado, subject
<br />to mineral reservations, existing easements and other restrictions.
<br />Default Interest Hale: None
<br />Prior Encumbrances (II any):
<br />THE GENER/1L TERMS OF THIS INSTRUMENT AflE:
<br />COrlveyanCe alhd WarraOllell. roc vaiuabie consmrration. m¢ Debtor He reDy conveys Ihe Property to the Public Tru9ee of Ihe county in DOlDratlo
<br />rn wmcn ine Propr:nyrs iocared, In oust fur me ^enetirmrv the"Property includes the real estate described above lunder Speohc Terms)logetnerwrih
<br />all Ot m¢rmprovPrnr;nrs located Un llle Properly now or mlhr lulurr. and all edsemenls,nyhls,idyalbps,mmerats. properly mlese5b under leases, water
<br />Henn and rrgms m Iransnon water Oncl, mine any wells. pwnps ann motmsl antl all other appurtenances to the Property of whatever descnpbpn. mclud-
<br />Ing replaremenis .m^ dddihnns the Debtor hmeby warrants title lO ine property. suhlecl IO Ihe IOllOwmg mailers (0 the lien of Ih¢general properly leK
<br />IOr Ina year OI Ims Deed UI Trust np any sparest a95essment5 ine mdebredness n01 duo and payable On Ina dale OI Ihls De¢d Ot TIU$t, Ilul e65emenla.
<br />rlgnts-OLway rrservalrnns covenanR reiprrngns.and nunelal or ONerleases. to the ezienl ihal any pl lhOSe items has been e5laDlishedbyanmalm-
<br />nrenl rerordetl error In Inr dale W Ines Deed OI Trust In the era! estate records of Ihe county m wh¢h the Property ra located. or tO ln~ e:lieni that any OI
<br />IhoSe Hems Has mmn esia Mrsnen Dy u:e and nvI an', poor em:umhrances sped LCa uy referred to above (under Specific Term51 This conveyente rs m
<br />Irusl lo, Ihe penelll of ine Benehuarr amt lhr DrUlnr ac MnUwledg¢S lhai ine Public Trustee of the County in which the Property is located. as well as any
<br />dWy aDDmnted su[Cessrn Sh311 have wOh respect lO Chu Prq'+nny, all ni lhr nghis. powers and auihonty granted by applicable COlOredO law and bythe
<br />terms of rhis Deed OI Trust m[ludrnq Iho' Vnwrn ur sale m Vu' evr•nl of d¢Iaull
<br />Asslgnmenl of Rents and Royaltlea. m cpnjrmaion wlln Ina conveyance of Ina Property to Ihe Public Trustee the Debtor hereby assigns to the
<br />BeneUUary a5 adc nrnnal Securely for Ina Indebtedness all rents rUyafties ann other payments aIUlDulable to ine use Or COnaumptlOn of the Properly.
<br />rlowevdr ine DDDlor s~aii,unln55 and unlll the BeneUnary e.erases tics accel¢rahon nghis lOllowrng atlelault, have the right to collect and rolain ell such
<br />rrnis. IDyalirPS aro1 plhe.r Burn payments as iney h?come due antl paydhle
<br />Conde mnatlOrt Awards. Tne Deblw neu•by assigns to Inr nenehclary an condemnation awards Vard won respect to the ProDeny, except IOr any
<br />nMlydn OI Ina award Wnrr^ e~r¢eds Ihe bal:utce OI Ina Intlehleflrrn55 and Cxpepl IOr any portion OI Ina award Wh¢n Ina aedelitrary elCCla not IO accept.
<br />rnP'wOrds'cOndemn,lhJn awaul uml.:dn all peyinenis made ry any COpdY.mnrnq aUlhpniy for the taking ni Or iDr damage lOlhO Prppeny Or any pOrtl00
<br />of mp PrOUrdv ann also mclunr pay mtnls maJr rn In)u of cond¢mnallon The Debinr retains the nghi to Indi pONOn of Ihe award which expaeda the
<br />amp+rr4 JI Indehle OnesS hue .lf ine lime ui the dw and
<br />W81yer Ot HOm esteed. 1 na DeMgr Hereby lolly dnC aDSOIOi¢ly waives and releases his right untler any COlOredo or 1¢deral law. including any en-
<br />actrn In Ina tonne to claim Ina Pr OPCriy as a nOmnsr tad Or IO claim any Other exempllon wdh respect to Ihe Property Thrs peregrapn rs made for Ihe
<br />Hen aril pnl~ OI Inr aenel4 rail I.u Ctrl me•d be1Jw1 .uN m'.ry rW'. hr raped upon DY anY Other per50n
<br />De bt01'a Ref flhled R Igh (!. The Demor retains m¢ ngnl to Ihe Dossessron, use and enjoyment of ine Properly, except as otherwise provided in this
<br />U¢en Ol Trust Tne CTemw.rlso retains me ngnl to mgmre ine Public Trustee to lolly release lhelnteresl in ine Propertyconveyed to the Pubbc Trustee Dy
<br />Inca need of Trust nl such Irma es the IndeUlDdness has Haan lolly paid or olheswise saDShetl'. and the Debtor relemsihe nghi to require penral release Dy
<br />nr,• Nettie T•rrslee d provraluns Inr parlral aneases Haut geen adtled or relrrred to Detow Tne Debtor shall be entitled to reimDUnamenl vom metlenen-
<br />c ~m y Inr all costs muined Oy mr Denior m obis lninq rrlea5e5 Ur partial releases. to Ihe exleni ine costs are related 10 a failure or a refusal of Ihe Beneli-
<br />nan In denv¢r Ip the Ppnhc Trustee lnc nine evade zing Inr Indebtedness and to deliver any other insbumenls lawfully required Dy Ihe Public Tmslee.
<br />Addltlons to In deblednese. Tne lnnebiWness won respect lD worth this Daed of Trust re gwen inclutles not only the balance from timeto time of
<br />Ihe InarDl enneas d:5o Inrn Move lunder Spenlrc Tennsi, but d5n mrud¢s all amounts owing under ectensrOns el the nOletsl evidenong the IndeDlrM-
<br />ness plus tonne advanceg made by Inc Oenellnary to Inr. Denlpr and Inimesl nn luigr¢ advances pl iha descnptipn ui ine Intlebtednesa under $pecdic
<br />t er ms menllons lower advanrrsl plus an e.pendlturos ngnnudy made or mcmred ny the BeneDOary to protect the security of this Deed of Trust and to
<br />rOrrCrl any mDIalIUUS Dy Ina Debinr OI the rOVenanls of lots Deed of TrU5i. Iogeiher wlln inlere5i On Ihe amount! of such eaDBOddUle4 CeCOIBIeO 01 the
<br />ueia~n rn:er esl raI•~ sal lone under Speahc Terms
<br />Covenants by Debtor. in atldmon to war ranling hue to the Pr oprny, Ina Debtor covenants and agrees
<br />lal Iq pay ine Indebtedness according to me terms and regwremenis of the note(s) Or piper documents evidenong Ina Indebtedness.
<br />l bl Io keep the Pro[ edy rn good dpndelpn a red repau and 10 nmiher dempli5h nor mOVe any imprOVemenla wilhOUi Ihe W oiled COdlBN ql ine Benelidlary;
<br />Io Hari Her Comm n nor perrtr n any act by wn¢n Ina value of Ihe Propedy wo W d be impaved. to nedher violate nor permit Ina wolahod of any few blletl-
<br />rnq Ina use antl mamlenenCe OI the ptODeny and IO nedner COmmri nor sutler Waste 10 the Progeny.
<br />ICI In pd)', wllnrn II r Ilmr dID WBd Dy a W. all IaxrS. aaSP.asm¢ni5 and any Olhrr CnalgPa IQVICd Orl Inr P/Oprlly, II SpCh IaxaS, aaa933TCDI5 and Olna!
<br />c narges cOWd have pnonty over finis Deetl of Irusl.
<br />R1i lU keep dll bu adings and DIn¢r insure Dle slruciures On Ihe Property r,Onllnuously Insured, al Ihe coal Ol Ihe Dabtor•agermlpenls cdveretl Dy aSland-
<br />arn Dre Insurance put ¢ y wn n endor semrnls for extended coverage. vandalism, mahaous mrschrel, and oplronal perils: on el the choice 01 ine Debtor,
<br />lU Leep m force a sldnda,tl an-risk pph[y In any case. such rov¢rage snail be prowde0 by one or more compemes euihorixed l0 issue mauranoe in
<br />Coip,ad0 and In s a mount nl 1 he rover a ge shall he equal to Ina lull insure Dle~alue OI all Ina buildings and other rnawebe Slmcluro5, Unleaa Ihe Bene•
<br />bnary agrees In wnling to a lower amOUm of coverage The BeneDOary shall Da named as an adddion0l insured bi all such pohCres Under a standard
<br />orlgnye clause face such policy also shall contain r provision requiring wrllien notice Io iha Geneliciary et Iea5170 days prior to ine ellective date
<br />pl :Inv cnnu•ilallnn of rrnn rnnewai of Inr Puhcy At ine requmi nl Ihe Benebcury, an insurance pOllciea required by Inv paragrapn. or Copies of Ihe
<br />Pobr'rpa sbali h• x¢p1 rn hIS VnS.CSSrun
<br />~ teal UPDATE LEGAL FGRMa
<br />P,O. Bo. i615 Greeley. GoUradu fl0631
<br />IJ091 J56~ I t 99
<br />~~/~j~~~ This form contains a durLOn-sale clause; NO. 701
<br />(/ v l sirlko out II Clause inepproPriele.
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