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Recorded at_~ _o'cloclt__ M., _~_ _
<br />Reception No. Recorder.
<br />~ sf dal'of /{IQ ~ 19 r18 ,between
<br />THIS DEED OF TRUST, Made this n
<br />Thomas M. Russell and Patricia A. Russell
<br />the grantor herein whose address is Tonopah Stage Route, Ely
<br />~ra~
<br />County of and State o x
<br />and the PUBLIC TRUSTEE of the County or City and County in which the property described below is situated, in the
<br />State of Colorado,
<br />Witnesseth: The Grantor to secure a promissory note(Ki) bearing even date herewith, for the total principal
<br />sum of Thirteen 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 xaftxxCtcadaaB>~c~K
<br />with interest thereon from the date thereof at the rate of ]-1 /2 percent per annum, principal and interest payable
<br />in annual installments of $I, 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, shalt be due and payable July 5, 1987. The annual
<br />does hereby grant and convey unto said Public Trustee the foltowingdescribed property, situate in the
<br />County of Lar imer , State of Colorado, to wit:
<br />The North one-half (NI/2) of the South one-half (S 2/2) 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 apro-
<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 (S1/2) of the
<br />e~ea~rh o~f~ 1~S of the North one-half (N1/2)) of Section 24, Township .9 Nor
<br />Range 70 West of the 6th P,hS as long as any amount zs
<br />owin~ on any notes on either of the above described properties.
<br />TO NAY AND TO BOLD the same togethmwith all appmtenances,inU'ust nevmtbeless, that in rase nfdefault in the payment of sail note oram~yart thereof
<br />w' interest thereon, w- in the perfwmmae of any rovenanta hereinafter set forth, then upon the hcnefin»ry (note holder) Dling nolire of election »nd Jem»nd Inc
<br />sale, said Public Trustee, after edvertrsinHH nonce of said sale weekly, for not leas then four weeks, in some newspaper of Renard cmcu ie4on m sail county. shall
<br />sell said proparty in the manner provided by law m effect et the time of filing said notice and demantl, et public auction for cash, at any proper plue designated in
<br />the notce of sale. Out of ilia proceeds of said sale said Trustee shall retain or pay first all fees, charges and costs and ell moneys alven~ed for taxes, inam once
<br />and assessments, or on any prior encumbrance, with intro-est thereon, and pay the principal and interest due on said note, rendevnR the overplus lif anyl unto
<br />the grantor; and after the expiration of the lime of redemption, said Trustee shall execute end deliver to the purchaser a deed to the property sold. The
<br />beneficiary may purchase said property ar any part thereof at such sale.
<br />The grantor covenants that et the time of delivery of these presents, he is seized of said property in fee simple, and chat said property is
<br />free of encumbrances, ezcept
<br />and that he will keep all buildings insured for fine and extended cover age in »moont equal to the nn Avid balance of acid note with loss pay ahle to the heneficran~,
<br />anA will p y all taxes and assessments . Rainst said propmty xnd amounts due on prior ennrmbr:mces, and if he shell faJ to pay ins ranee premiums, taxes or
<br />amounts due on prior encumbrance the beneficiary may pay the same and all amounts so paid shell become addrtimral indebtedness due hereunder; and incase
<br />o(fineclosure, he will pay an attarneya tee of a reasonable amount
<br />Should the beneficiary hereunder be made a party to any action affecting this deed of trust
<br />court coats and a reasonable attorney's fee paid by the beneficiary shall become additional it
<br />release and waive all claims in said property es a homestead exemption or oche r exemption no
<br />If ell r any pert of the property or an interest therein rs sold or transferred by Fin
<br />excluding (el the creation of a hen or encumbrance subordinate to this Deed of Trust, (h)
<br />household appliances, (c) a transfer by devise, descent or by operation of law upon the death of
<br />three years or less no[ containing an option to purchase, beneficiary may, et beneficiary's opt
<br />be immediately due end payable. Beneficiary shall have waived such option to accelerate i(, p
<br />whom the property is LO be sold or transferred reach agreement in writing that the credit o
<br />inter¢at payable on the sums secured by this Deed of Trust shall be at such rate es beneficiary
<br />It is agreed that in case of default in payment of said principal or interest or s breech of an
<br />secured end interest thereon may at the ap~ion of the beneficrary become due and payable at
<br />ing and possession of said property will thereupon be delivered to the beneficrary, end on (r
<br />entitled toareceiver (or said property, who may beappointed by any court of competentjurist
<br />Whenever used herein the singular number shell include the plural, the plural the singe
<br />genders. All o(the covenants herein shall be binding upon the respective heirs, personal repre
<br />Should any provision of this Deed o(Truat be found to violate the statutes or court deciair
<br />provtsion shall be deemed to be amended to comply with one conform to ouch statute„ and dace
<br />he title to said property, the grantor agrees that all
<br />[edness due hereunder; end the grantor does hereby
<br />hereafterp ovided by law.
<br />~r[_ without beneficiary's prior written convent,
<br />eation of a ppurchase money security 'merest for
<br />'ml tenant or ld)the grant of any leeaehold interest of
<br />declare ell the sums secured by this Deed of Trust to
<br />to the sale or trensfen beneficiary and the person to
<br />h person m satisfactory to benefice sty and that the
<br />I request,
<br />,he coven sofa herein, then avid principal sum herebyy
<br />enythinq in said note to the contrary notwithetantl~
<br />e to deliver such possession the beneficiary shall be
<br />m.
<br />and the ueeof any gender shall be applicable to all
<br />fives successors and assigns of the parties hereto.
<br />f the State of Colorado. or of the United States. such
<br />Executed the day end year first above wrrtlen. /~ ~r/-1
<br />~"r /e~`rrn ~r/ .~~---. 1 f'Q~C~'/r ~n• lV ,O,CJ~
<br />Thomas M. RuSs'e Fatricia~~ puss
<br />
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