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<br />1F TII1S FORM IS USED IN A CONSUMER CNGUIl' TRANSACi'IDN, CUNSDLT' LEG:, 1. CUUNNHl..
<br />iNIS 1S A LEGAL INSTRUMENT. IF NOT UNOEAST000, IEGAI, TAY OA OTHFA COUNSEL SIIDUED DE CDNSUETED BEFORE SIGNING.
<br />DEED OF TFlUST
<br />(Due on Transfer -Strict)
<br />Coumy of LARIMP.R ,State of Colorado:
<br />THIS DEED OF TRUST is made this 6TH day of DULY ~ , (q 90 , between NEIL SPRAGUE
<br />SUDY SPRAGUE AKA ARLIS M. SPRAGUE (Borrower),
<br />whose address is ,
<br />and the Public Trustee of the County in which the Property (sec paragraph U u eiw;ucd ('1'ruxtcc); for the benefit of ANN J.
<br />MCCOLM as to an undivided 1/2 interest and oLGn Lnl<RITZ as to an undivided 1/2
<br />interest (Lender), whose address is
<br />1606 PINYON CT., LOVELAND, COLORADO 80538
<br />Borrower and Lender covenant and agree as followi:
<br />1. Property in Trust. Borrower, in consideration of the indcbreducis irc;rin Iccittd and the trmt herein created, hereby grants and
<br />CODVtyS t0 Trusee m IfUSI, Wllh power O( SaIC, Iltl.' (UIIU'.¢Inr tlCx'rlhcJ pl,n.cil, Tut al Cl! I^ IIIC _
<br />SEE EXHIEIT "A" ATTACI(ED IIEREI'0
<br />which has the address oI VACANT GROUND _ ,
<br />~ti~~.,-~
<br />r nvar awn , coiorado -8.0537
<br />IcIrI alP ceErl
<br />(Property Address), together with all its appurtenances (Property)
<br />19 90 , in the
<br />pnnclpa sumo _. -
<br />,)UL.Y 5 90
<br />U.S. Dollars, with interest on the unpaid principid halallee tr01^ _ , 19 ~- , umil paid, at the
<br />rak of 9.000 percent per annum, With principal :Intl inlcre;t p.:eahk ;II 1606 PINYON CT. , LOVELAND,
<br />COLORADO 80538
<br />or such other place as the Lender Inay designate, in 84 MON'T'HS payments of FOUR
<br />HUNDRED NINETY FIVE AND 85/100
<br />Dollars (U.S. S ^ ^^ (495.85) ^ ^ }due on the 6T11 day: „(tech MONTH
<br />beginning _ AUGUST 6 , 19 90 ;such paymrents to cnminut wail the entire indebtedness evidenced by
<br />said Note is telly paid; however, itnot sooner paid, the cnlirc principal anrcnnn nni;DUrding and accrued interest thereon, shall be due and
<br />payable on .T[If.Y 6 ,19.~~;
<br />2. Nok; Other Obligations Secun:d. This Dced o('fruxt is giver In secmt to Lender:
<br />A. the repayment of the indebtedness evidenced by Borrowtr's nnlc !!~ulr7 dalc,l JULY
<br />' ) t FIFTY FIVE THOUSAND AND 00/100
<br />and i$rrower is to pay to L.en<ler a late charge of 5 .000 So of any' !I;lynlcnt not received by the Lender within
<br />days alter payment is dot; and llorro'.vcr h:w the ri~lu to p:cpay Iht principal amount outstanding under
<br />said Note, in whole or in part, al any time without penalty cactpt [~Gt12
<br />B. the payment of all other sums, with imerest thereon al -15...000._--___ 9o per annum, disbursed by Lender
<br />in~aecordance with this Deed o(Trust to protect the security ul this U:ad of ~inut'. and
<br />C. the performance of the covenants and agrcemems of &unnt~a II: ICi^ cuurunal.
<br />3. Title. 8orrowercovenants that Borrowerowns and has dm rlclu I,, ~ r,In; ;In,l cu~nry ;he ['ropcrty, and warrants titlt to the same,
<br />subject to general real estme taxes ror the current year, eastnrenu of lccm'J or in e!:6tula~, and recorded declarations, res«ictions,
<br />reservations and eovenams, i(any, as of this date and except Npne
<br />4. Payment of Principal and Interest. Borrower shat! pmmpdy p;:y when dot tht principal of and interest on the indebtedness
<br />evidenced by the Note, and late charges as provided iu the Nofc and.ah:ul pct hn w aII of Burrownr's odler covenants contained in the Note.
<br />5. Application of Payments. All payments received by Lnu!cr un~cl the m: ms hcrrot shall be applied by Lender t rst in payment of
<br />amounts due pursuam to paragraph ?3 (Escrow Pwuls (or T¢:rs and lnswarcu), Ihrn to amounts disbursed by Lender pursuant to
<br />paragraph 9 (Protection of Lenders Security), and the bal. ~: in accold:wce with the leans and condi!ious of the Note.
<br />No. TD 72-11•S.l. DEED OF TNU57 IUur on 7}nnsfer - StricU
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