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Recorded at ti clock__—_ — — _—
<br /> Reception No. _W—
<br /> __ �— _Recorder.
<br /> TIIISUEEOOFTIt[IST,rr,ladet}ni., Si day of A C1 19 TF ,between
<br /> Thomas Me Russell and Patricia A. Russell
<br /> the grantor herein whose address is Tonopah Stage Route, Ely
<br /> Neyida
<br /> County of and State of ICu ux
<br /> and the PUBLIC TRUSTEE of the County or City and Cu,mty in which the property described below is situated, in the
<br /> State of Colorado,
<br /> Witnesselh:The Grantor to secure a promissory note(K)bearing even date herewith,for the total principal
<br /> sumofThirteen Thousand Three Hundred Forty-Six and 57/100----------------- dollars,
<br /> payable to the order of T. R. Yelek
<br /> the beneficiary herein whose address is Loveland, Colorado
<br /> Payable Xxftxxttw)1xXxAKmy1c fl
<br /> with interest thereon from the date thereof at the rate of 7-1/2 percent per annum,principal and interest payable
<br /> in annual installments of $1,944.02 beginning July 5, 1978, and continuing each
<br /> July 5 thereafter until principal is paid in full. The unpaid portion of the
<br /> principal, if not sooner paid, shall be due and payable July 5, 1987. The annual
<br /> does hereby grant and convey unto said Public Trustee the following described property,situate in the
<br /> County of Lar imer ,State of Colorado,to wit:
<br /> The North one-half (Nl/2) of the South one-half (S 1/2) of the Northeast
<br /> one-quarter (NE1/4) of Section 24, Township 9 North, Range 70 West of the 6th
<br /> P.M. , together with all mineral, oil and gas rights owned by Grantors.
<br /> *payments shall be first applied to the payment of interst, and the balance
<br /> credited to principal. Purchasers have the right of sale of any portion of the
<br /> land that is subject to the Note and this Deed of Trust, but shall pay a pro-
<br /> rata portion on the Note in order to obtain a partial release.
<br /> **Note: The Holder of the Note has the right to access over all existing roads
<br /> on subject property and all existing roads on the South one-half (Sl/2) of the
<br /> South one-half 1ST // ) of the North one-half (Nl/2)) of Section 24, Township 9 Nort
<br /> e e AOY141 "� Range 70 West of the 6th P.M. as long as any amount is
<br /> g owin on any notes on either of the above described properties.
<br /> TOBAt' AVU TO IIOLD the same together with all appw tenances,in trust nevertheless.that in rose nr defuuhmnm p:p'ment Ol said note or any pare thereof
<br /> orinterestublic roret hepadvirisn notice
<br /> shamse ac colt
<br /> ly,fonalless then upon thesenvfinarr(noteholden nr;not rr lotion election,cuddema n d for
<br /> .,If aid Public in thee.annerpvovidedR n inrsmd saleetions,forrim less noon four we so me newspaper fogeneral n ra:propernde said unev.shall
<br /> ,he notice
<br /> of saleperty in the manner of,ny law sae said T i""h.11 oetain or payid notice andes,charges
<br /> demand.et andol c stc andion for rash,at any properplace taxes,Wanted re
<br /> the notice of sale.Out of the proceeds of sawn sale said Trustee mall retain env
<br /> first all fees,d interest due
<br /> cost.and all money.rin the o for Lees,inset ante
<br /> and assessments,or after
<br /> any prior anon of the time
<br /> with interest thereon,and pay the principal and i serest due on said rate,rendering the e r otsa ty aryl unto
<br /> the grantor,and after the id expirationprt of the time h redemption.said Trustee shall execute and deliver to the purchaser a deed to the property sold.The
<br /> beneficiary may purchase said property or any part thereof y such sale.
<br /> The grantor covenants that at the time of delivery of these presents, he is seized of said property in fee simple, and that said property is
<br /> free of encumbrances.except
<br /> and that he wi II Fee,all buildings insured for fire and extended coverage in amount etpral to the unpaid balance of snod note with Ions payable to the heneralarv,
<br /> and will pay all laze,and as,rx,m,W against said property and amounts due on pnoreacu rionne—.and if he shall fail to pay insurance premiums,taxes or
<br /> amounts dueon prior encumbrance.the beneficiary may pay the same and all amounts so paid shall become additional mdebtednesedue hereunder;and incase
<br /> offoreclosure,he will pay analtcrney's feeof a reasonable amount
<br /> I
<br /> Should the beneficiary hereunder be made a party to any action affecting this deed of trust or the title to said property,the grantor agrees that all
<br /> court costs and a reasonable attorney',fee paid by the beneficiary shall become additional indebtedness due hereunder;and the grantor does hereby
<br /> release and waive all claims in said property as a homestead exemption or other exemption now or hereafter provided by law.
<br /> If all or any part of the property or an interest therein is .old or transferred by First Part__ withnut beneficiary's prior written consent.
<br /> excluding(a)the creation of a lien or encumbrance subordinate to this Deed of Trust,(A)the creation of a purchase money security interext for
<br /> household appliances,(e)a transfer by devise,descent or by operation of law upon the death of a joint tenant or ld)the grant or any leasehold interest of
<br /> three yearsor less not containing an Option to purchase,beneficiary may,at beneficiary's option,declare all the sums secured by this need of Trust to l
<br /> be immediately due and payable.Beneficiary shall have waived such option to accelerate if.prior to the sale or transfer,beneficiary and the person to
<br /> whom the property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to beneficiary and that the f
<br /> interest payable on the sums secured by this Deed of Trust shall he at such rate as brneficiary ahell request.
<br /> It is agreed that in caseafdefault in payment ofsaid principal or tnterestor a breach of any ofthe covenants herein,then s aid principal sum herebyy i
<br /> secured and interest thereon may at the option of the beneficiary become due and payable at once,anything in said note to the contrary notwith stand-
<br /> ing and possession of said property will thereupon be delivered to the beneficiary,and on failure to deliver such possession the beneficiary shall be
<br /> 'entitled to a receiver for said property,who may be ap potnted by any court ofcompetentjurisd iction.
<br /> Whenever used herein the singular number shall include the plural,the plural the singular,and the use of any Render shall be applicable to all !
<br /> Card.,..All ortheci,venant.hereinshill he binding upon the respective heirs,personal represente[fives,sutcevora and as,igna o fthe parties hereto. i
<br /> Should anyy provision of this Deed of Trust be found to violate the statutes or court decision,of the State of Colorado,or of the United Slates,such i
<br /> provision sh.11 be deemed to be amended to comply with and conform to such statutes and decisions. I t
<br /> Executed the day and year first above written. i
<br /> Thomas M. RuArs'e1TJ �atric>_a A. Russell
<br /> i
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