HomeMy WebLinkAbout20022174.tiff Banks and Gesso, LLC
EXHIBIT N — SOURCE OF LEGAL RIGHT TO ENTER
Source of Legal Right to Enter
Ralph Nix Produce, Inc. is the current owner of the subject property. Owens Brothers
Concrete Company has obtained the legal right to enter the proposed permit area for the
purposes of excavating and reclaiming the property through a contract for purchase of
the property. The owner has agreed to allow the Applicant to permit the property for the
purpose of sand and gravel mining. Please refer to the Agreement found in this Exhibit.
EXHIBIT
I la
r
Nix Property Sand and Gravel Mine.CDMG.112 Permit 20075.WD
Owens Brothers Concrete Company May 2001
28
2002-2174
ILL FOSTER The printed portions of this font have been approved
n r n ll r t v t a, by the Colorado Real Estate Commission.r"--`
THIS FORM HAS IMPORTANT LEGAL CONS_JENCES
REEF unst.tenatcaavaomr AND THE PARTIES SHOULD CONSULT LEGAL AND TAX
rsPt7aann•wwnuwRamca OROMER COUNSEL BEFORE SIGNING.
CONTRACT TO BUY AND SELL REAL ESTATE '`
(VACANT LAND-FARM -RANCH)
i. Date: JSRtDmber 28. 2geQ.
1. AGREEMENT. Buyer agrees to buy and the undersigned Seller agrees to sell the Property defined below on the terms
and conditions set forth In this contract.
2. DEFINED TERMS.
a. Buy.Buyer, .— Owens Rcot,Ecncuttil s.
will take title to the real property described below as ❑Joint Tenants O Tenants in Common x Other CncporaSisn.
•
b. Property. The Property Is the following legally described real estate: <-` r ------
eja_aw/9jF&. 28. T3ri,_R47R of t a 6th lt—y,._containt02_Q9_sons_Pora_s{. less-._.—__..—_._____
in the County of ...._—_Weld __-..____.... ........ . .. .._ . Colorado, commonly known as No.
Street Address ---.. - Cil
together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, all interest of
Seller In vacated streets and alleys adjacent thereto, except as herein excluded.
e. Dates and Deadlines.
Item No. Reference Event Date or Deadline
1 §5a oan Application Deadline --- n/a
'--`---
2 §5b Loan Commitment Deadline _ '._..._...—. —. _. ._..._.—. ...
n/a
3 §5c Buyer's Credit Information Deadline —
n/a •
4 §5c Disapproval of Buyer's Credit Deadline --._..—_ n/a
5 —_ §5d Existing Loan Documents Deadline n/a '---'-'- -
6 §5d Objection to Existing Loan Deadline —'--- n/a - ---
7 §Sd Approval of Loan Transfer Deadline n/a ---'
8 - §8a_-- Appraisal Deadline - --- ---
9 §la Title Deadline _ 20 days from: N8C
10 §7a Survey Deadline .__..._____..._. _.
_ sae ^d" in addendum
11 §7b Document Request Deadline - ----10 days from MEC
12 §8a Title Objection Deadline _ __ 35 days from MEC
13 §8b Off-Record Matters Deadline 30 days from NEC •
14 §8ti Off-Record Matters Objection Deadline '—'---
40 days from MEC
15 §10 Setter's Pr _._ __
Property Disclosure Deadline ...____. 5 days from la:C
16 §1---- Inspect al—i Objection Deadline---- '------ __ 45 days from MEC
17 §1-01-3.- Resolution Deadline 50 days from NEC ---
18 §11 Wary Date __--- See Addendum •
---
19 §18 Possession Date ---- -- See Addendum
20 §16 ossessl n Time • S.. Addendum
21 §28 Acceptance Deadline Date
2000.
22 §28 ' Acceptance Deadline Time -- _—
- • -- _. 12:00 noon •
d. Attachments. The following exhibits, attachments and addenda are a part of this contract:
8ss_e_itdde irlaps
e. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The
abbreviation"WA" means not applicable.
3. INCLUSIONS AND EXCLUSIONS.
a. The Purchase Price Includes the following items (Inclusions):
(1) fixtures. S attached to the Property on the date of this contract,lighting,heating,plumbing,ventilating,
and air conditioning fixtures, Inside telephone wiring and connecting blocks/jacks, plants, mirrors, floor coverings, Intercom
systems, sprinkler systems and controls, and
(2) Dihar Indus one. Hon the Property whether attached or not on the Eale o)tfiia contract:storm w'Tndows,
storm doors,window and porch shades, awnings, blinds, screens,window coverings, curtain rods, drapery rods, storage sheds,
and all keys. Check box if Included: 0 SmokelFire Detectors, O Security System(s);and___-- —_
(3) Trade Fixtures. With respect to trade fixtures, Seller and Buyer agree as follows:Is/IL. _. __
(4) Water Rlohts,The following legally described water rights:water.tap Sp_hgaae.iS.ippxicAb
npa le—
Ja _ relfinkS ci_SAdend!xN_ ------
(5) Growlna Crops,.With respect to the growing crops Seller and Buyer agree as follows:2oA0. arvp_
LvralleN t baesateaG.years_tp bs._aeststlsSirtdl1.ttsen_salisvnd_kPrer__(.4).._Barsr--M1 .__--
____._.—._—_xeceive stJ—aurface_righti_to_.tnotrade_sand.and_oxaval..__._.__—_-_..___..__— _
•
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b. instruments of Transfer. The knclusio,_ are to be conveyed at posing free and clew of all taxes, ilens and yP
encumbrances, except as provided in§12.Conveyance shall be by bill of sale or other applicable legal instrument(s).Any water y -
rights shall be conveyed by Special Warranty deed or other applicable legal instrument(s).
c. Exclusions. The following attached fixtures are excluded from this sale:N[__
`
^4. PURCHASE PRICE AND TERMS. The Purchase Price set forth below shall be payable In U.S. Dollars by Buyer as -
follows:
Rem No. Reference Item
r.-54 Pumalaanpri —"-- ----s----j �^ :1��, 74.4:.;
2 §4—EarneirMoney-- y,i __
3 §4b Now.zan '!" ._
§4c Assumption balance
5 §4d Seller or'rivate Financing —"—
T3 54e
(';
7— TDTAL—
a. Earnest Money.The Earnest Money set forth in this Section,in the form of _ _cheer 7777__,
is part payment of the Purchase Price and shall be payable to and held by _Lrantastiort_Rikle__7777_.—• In
its trust account, on behalf of both Seller and Buyer. The parties authorize delivery of the Earnest Money deposit to the Closing
Company,If any,at or before Closing.
b. New Loan.(Omitted as inapplicable.)
c. Assumption. (Omitted as inapplicable.)
d. Seller or Private Financing. (Omitted as Inapplicable.)
e. Cash at Closing, All amounts paid by Buyer at Closing including Cash at Closing, plus Buyer's closing costs,
shall be in funds which comply with all applicable Colorado laws, which include cash, electronic transfer funds, certified check,
savings and loan teller's check and cashier's check(Good Funds).
5. FINANCING CONDITIONS AND OBLIGATIONS. •
a. Loan ADolication. (Omitted as inapplicable.)
b. Loan Commitment,(Omitted as inapplicable.)
c. Credit Information (Omitted as inapplicable.)
d. Existino Loan Review, (Omitted as inapplicable.)
6. APPRAISAL PROVISIONS.
a. Appraisal Condition, This subsection a. ❑Shall Qd Shall Not apply.
Buyer shall have the sole option and election to terminate this contract N the Purchase Price exceeds the Property's
valuation determined by an appraiser engaged by . The contract shall terminate by Buyer
giving Seller written notice of termination and either a copy of such appraisal or wr t[ten notice from lender which confirms the
Property's valuation is less than the Purchase Price, received on or before the Appraisal Deadline (§2c). If Seller does not
receive such written notice of termination on or before the Appraisal Deadline (§2c), Buyer wolves any right to terminate under
this subsection.
• b. Cost of Appraisal,Cost of any appraisal to be obtained after the date of this contract shall be timely paid •
by O Buyer t J Seller.
7. EVIDENCE OF TITLE,
a. gvidsnce of Title: Survey. On or before Title Deadline (§2c), Seller shall cause to be furnished to Buyer,
at Seller's expense, a current commitment for owner's title insurance policy in an amount equal to the Purchase Price or if this
box Is checked, (]An Abstract of title certified to a current date. If a title insurance commitment is furnished. It N Shall •
(1 Shall Not commit to delete or Insure over the standard
exceptions which relate to:
(1)parties in possession.
(2)unrecorded easements,
(3)survey matters,
(4)any unrecorded mechanics'liens,
(5)gap period(effective date of commitment to date deed is recorded),and
(6)unpaid taxes,assessments and unredeemed tax sales prior to the year of Closing.
Any additional premium expense to obtain this additional coverage shall be paid by 0 Buyer N Seller. An amount
nePRtsaes _S__ p 77 _ for the cost of any Improvement location certificate or survey shall be paid by
Buyer ]fN Seller. t coal exceeds this amount y/tis___ ,.__, shall pay the excess on or before Closing. The
Improvement location certificate or survey shall be received by Buyer on or before Survey Deadline (§2c). Seller shall cause
the title insurance policy to be delivered to Buyer as soon as practicable at or after dosing.
b. Copies of Exceptions. On or before Title Deadline(§2c), Seller, at Seller's expense, shall furnish to Buyer,
(1) a copy of arty plats, declarations,covenants, conditions and restrictions burdening the Property, and(2)If a title insurance
commitment Is required to be furnished, and if this box is checked Copies of any Other Documents (or, if Illegible,
summaries of such documents) listed in the schedule of exceptions (Exceptions). Even if the box is not checked, Seller shall
have the obligation to furnish these documents pursuant to this subsection if requested by Buyer any time on or before the
Document Request Deadline (§2c). This requirement shall pertain only to documents as shown of record in the office of the
clerk and recorder(s). The abstract or title insurance commitment,together with any copies or summaries of such documents
furnished pursuant to this Section,constitute the title documents('tie Documents).
6, TITLE
a. Title Review, Buyer shall have the right to Inspect the Title Documents. Written notice by Buyer of
unmerchantablllty of title or of any other unsatisfactory title condition shown by the Title Documents shall be signed by or on •
behalf of Buyer and given to Seller on or before Title Objection Deadline (§2c),or within five(S)calendar days after receipt by
Buyer of any 'Title Document(s)or endorsement(s)adding new Exception(s)to the title commitment together with a copy of the
Title Document adding new Exception(s)to title. If Seller does not receive Buyer's notice by the date(s)specified above,Buyer
accepts the condition of title as disclosed by the Title Documents as satisfactory.
b. Matters not Shown by the Public Records, Seller shall deliver to Buyer, on or before Off-Record Matters
Deadline (§2c)true copies of all lease(s)and survey(s)in Sellers possession pertaining to the Property and shall disclose to • --
Buyer all easements, liens or other title matters not shown by the public records of which Seller has actual knowledge. Buyer
shall have the right to Inspect the Property to determine if any third partyges)has any right In the Property not shown by the
public records (such as an unrecorded easement, unrecorded lease, or boundary line discrepancy). Written notice of any
unsatisfactory condition(s)disclosed by Seller or revealed by such inspection shall be signed by or on behalf of Buyer and given
to Seller on or before Off-Record Matters Objection Deadline (§2c). If Seller does not receive Buyer's notice by said date,
^ Buyer accepts title subject to such rights,if any,of third parties of which Buyer has actual knowledge.
c. Special Taxing DI tracts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION
INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY
WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL
LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE
RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNEf WITHOUT SUCH AN
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b. Copies of Exceptions.On or before Title .dline(§2c), Seller,at Sellers expense, shall furnish t. uyer,
(1) 9 copy of any plats, declarations, covenants, conditions and restrictions burdening the Property, and(2)if a title insurance
commitment Is required to be furnished, and If this box is checked p Copies of any Other Documents (or, if Illegible, ,
summaries of such documents) listed In the schedule of exceptions (Exceptions). Even if the box is not checked, Seller shall
have the obligation to furnish these documents pursuant to this subsection if requested by Buyer any time on or before the
Document Request Deadline (§2c). This requirement shall pertain only to documents as shown of record in the office of the
and recorder(s). The abstract or title insurance commitment,together with any copies or summaries of such documents
.shed pursuant to this Section.constitute the title documents(Title Documents).
8. TITLE
a. Title Review. Buyer shall have the right to inspect the Title Documents. Written notice by Buyer of
unmerchantability of title or of any other unsatisfactory title condition shown by the Title Documents shall be signed by or on
behalf of Buyer and given to Seller on or before Title Objection Deadline (§2c), or within five(5)calendar days after receipt by
Buyer of any Title Documents)or endorsement(s)adding new Exception(s)to the title commitment together with a copy of the
Title Document adding new Exception(s)to title. If Seller does not receive Buyers notice by the date(s)specified above, Buyer
accepts the condition of title as disclosed by the Title Documents as satisfactory.
b. Matters not Shown by the Public Records. Seller shall deliver to Buyer, on or before Off-Record Matters
Deadline (§2c)true copies of all lease(s) and survey(s)in Seller's possession pertaining to the Property and shall disclose to
Buyer all easements, liens or other title matters not shown by the public records of which Seller has actual knowledge. Buyer
shall have the right to inspect the Properly to determine if any third party(ies) has any right in the Property not shown by the
public records (such as an unrecorded easement, unrecorded lease, or boundary line discrepancy). Written notice of any
unsatisfactory condition(s)disclosed by Seller or revealed by such inspection shall be signed by or on behalf of Buyer and given
to Seller on or before Off-Record Matters Objection Deadline (§2c). If Seller does not receive Buyer's notice by said date,
Buyer accepts title subject to such rights,if any,of third parties of which Buyer has actual knowledge.
c. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION •
INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY •
WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL
LEVIES AND EXCESSIVE TAX BURDENS TO SUPPQRT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE
RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN
INCREASE IN MILL LEVIES. BUYER SHOULD INVESTIGATE THE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED
GENERAL OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING
SUCH INDEBTEDNESS.AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES.
In the event the Property is located within a special taxing district and Buyer desires to terminate this contract as a
result,if written notice is received by Seller on or before Off-Record Matters Objection Deadline(§2c),this contract shall then
terminate. If Seller does not receive Buyers notice by such date, Buyer accepts the effect of the Property's Inclusion in such
special taxing district(s)and waives the right to so terminate.
d. Right to Cure. If Seller receives notice of unmerchantability of title or any other unsatisfactory title condition(s)
or commitment terms as provided in §8 a or b above, Seller shall use reasonable effort to correct said items and bear any
nominal expense to correct the same prior to Closing. If such unsatisfactory title condition(s)are not corrected on or before
Closing, this contract shall then terminate; provided, however, Buyer may, by written notice received by Seller, on or before
Closing,waive objection to such Items.
e. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed
carefully. Additionally, other matters not reflected in the Title Documents may affect the title,ownership and use of the Property,
Including without limitation boundary lines and encroachments, area,zoning, unrecorded easements and claims of easements,
leases and other unrecorded agreements, and various laws and governmental regulations concerning land use, development end
-^"vironmental matters. The surface estate may be owned separately from the underlying mineral estate, and transfer of the
lace estate does not necessarily include transfer of the mineral rights. Third parties may hold interests in oil, gas, other
...metals, geothermal energy or water on or under the Property, which interests may give them rights to enter and use the
Property. Such matters may be excluded from the title Insurance policy. Buyer Is advised to timely consult legal counsel with
respect to all such matters as there are strict time limits provided in this contract(e.g., Title Objection Deadline(§2c) and
Off-Record Matters Objection Deadline(§2cf•
9. LEAD BASED PAINT Unless exempt. If the improvements on the Property include one or more residential dwelling(s)
for which a building permit was issued prior to January 1, 1978, this contract shall be void unless a completed Lead-Based Paint
Disclosure(Sales)form Is signed by Seller and the required real estate licensee(s),which must occur prior to the parties signing
this contract.
10. pROPERTY DISCLOSURE AND INSPECTION. On or before Sellers Property Disclosure Deadline (§2c), Seller
agrees to provide Buyer with a written disclosure of adverse matters regarding the Property completed by Seller to the best of
Sellers current actual knowledge.
a. Inspection Oblection Deadline.Buyer shall have the right to have inspection(s)of the physical condition of the
Property and Inclusions, at Buyer's expense. If the physical condition of the Property or inclusions is unsatisfactory in Buyer's
subjective discretion,Buyer shall,on or before Inspection Objection Deadline(§2c):
(1) notify Seller in writing that this contract is terminated.or
(2) provide Seller with a written description of any unsatisfactory physical condition which Buyer requires
Seller to correct(Notice to Correct).
If written notice is not received by Seller on or before Inspection Objection Deadline(§2c),the physical condition of
the Property and Inclusions shall be deemed to be satisfactory to Buyer.
b. Resolution Deadline% If a Notice to Correct is received by Seller and if Buyer and Seller have not agreed in
writing to a settlement thereof on or before Resolution Deadline(§2c), this contract shall terminate one calendar day following
the Resolution Deadline,unless before such termination Seller receives Buyers written withdrawal of the Notice to Correct.
c. Damage: Liens:Indemnity.Buyer is responsible for payment for all inspections,surveys,engineering reports •
or for any other work performed at Buyer's request and shall pay for any damage which occurs to the Property and inclusions as
a result of such activities. Buyer shall not permit claims or liens of any kind against the Property for inspections, surveys,
engineering reports and for any other work performed on the Property at Buyer's request. Buyer agrees to indemnify, protect
and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seiler In connection with any such
inspection, claim, or lien. This Indemnity includes Seller's right to recover all costs and expenses incurred by Seller to enforce
this subsection, including Sellers reasonable attorney fees. The provisions of this subsection shall survive the termination of
this contract.
11. CLOSING. Delivery of deed(s)from Seller to Buyer shall be at Closing(Closing). Closing shall be on the date specified
as the Closing Date (§2c)or by mutual agreement at an earlier date. The hour and place of Closing shall be as designated by
See Addendum Pa�ra�m x.
12. TRANSFER OF TITLE Subject to tender or payment at Cloning as required herein and compliance by Buyer with the
other terms and provisions hereof. Seller shall execute and deliver a good and sufficient __general warranty deed
to Buyer, at Closing, conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except
as provided herein, title shall be conveyed free and clear of all liens, including any governmental liens for special Improvements
nstalled as of the date of Buyer's signature hereon,whether assessed or not. Title shall be conveyed subject to:
a. those specific Exceptions described by reference to recorded documents as reflected In the Title Documents
accepted by Buyer in accordance with§8a(Title Review),
b. distribution utility easements,
c. those specifically described rights of third parties not shown by the public recurs f which Buyer has actual
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knovdedge and which were accepted by Buyer In accordant(, alt§Bb[Matters Not Shown by the Public Records),and _.
d. Inclusion of the Property within any special taxing district,and
e. the benefits and burdens of any declaration and party wall agreements,if any,and
f. other
13. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before Closing from the
proceeds of this transaction or from any other source.
CLOSING COSTS: DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in Good Funds. their respective
sing costs and all other items required to be paid at Closing,except as otherwise provided herein. Buyer and Seller shall sign
J conplete all customary or reasonably required documents at or before Closing.Fees for real estate Closing services shall be
paid at Closing by >IOne-Half by Buyer and One-Half by Seller ❑Buyer ❑Seller I I Other
The local transfer tax of —Wart %of the Purchase Price shall be paid at Closing by I j Buyer §alter. Any sales
and use tax that may accrue because of this transaction shall be paid when due by ()Guyer I )Seller.
16. PRORATIONS. The following shall be prorated to Closing Date,except as otherwise provided:
a. Taxes. Personal property taxes, if any, and general real estate taxes for the year of Closing, based on
,[[The Taxes for the Calendar Year Immediately Preceding Closing f7 The Most Recent Mill Levy and Most Recent
Assessment O Other
b. Rents. Rents based on ❑Rents Actually Received n Accrued. Security deposits held by Seller shall be
credited to Buyer. Seller shall assign all leases to Buyer and Buyer shall assume such leases.
N/A
c. Other Proretlona.Water,sewer charges;and interest on continuing It tan(s),if any;and
none
d. Final Settlement.Unless otherwise agreed in writing,these proration shall be final.
16. POSSESSION. Possession of the Property shall be delivered to Buyer on I'ossession Date and P ion lime
(§2c), subject to the following lease(s)or tenancy(s):none _. •
If Seller, after Closing, fails to deliver possession as specified. Seller shall be subject to eviction and shall be
additionally liable to Buyer for payment of E per day from thr Possession Date(§2c)until po ion
is delivered. - -----
17. NOT ASSIGNABLE: This contract shall not be assignable by Buyer without Seller's prior written consent.Except as so
restricted, this contract shall inure to the benefit of and be binding upon the heirs, personal representatives, successors and
assigns of the parties.
18. CONDITION OF, AND DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided in this contract,
the Property, Inclusions or both shall be delivered in the condition existing as of the dale of this contract,ordinary wear and tear
excepted.
a. Casualty;insurance.In the event the Property or Inclusions shall be damaged by lire or other casualty prior to
Closing,in an amount of not more than ten percent of the total Purchase Price,Seller shall be obligated to repair the same before
the Closing Date (§2c). In the event such damage is not repaired within said time or if the damages exceed such sum, this
contract may be terminated at the option of Buyer by delivering to Seller written notice of termination.Should Buyer elect to carry
out this contract despite such damage, Buyer shall be entitled to a credit, at Closing. for all the insurance proceeds resulting
from such damage to the Property and inclusions payable to Seller but not the owners'Pssociation, If any,plus the amount of any
deductible provided for In such insurance policy.such credit not to exceed the total Purchase Price.
b. Damage: Inclusions: Services. Should any Incluslon(s)or service(*)(including systems and components of
the Property, e.g. heating, plumbing, etc.) fail or be damaged between the date of this contract end Closing or possession,
whichever shall be earlier, then Seller shall be liable for the repair or replacement of such Ircluslon(s)or service(*)with a unit of
"•`miler size, age and quality, or an equivalent credit, but only to the extent that the maintenance or replacement of such
;lusion(s), services) or fixture(s) is not the responsibility of the owners' association, If any, less any Insurance proceeds
°calved by Buyer covering such repair or replacement. The risk of loss for any damage to growing crops, by fire or other
casualty, shall be borne by the party entitled to the growing crops, if any, as provided in§3 and such party shall be entitled to
such insurance proceeds or benefits for the growing crops,if any.
a. Walk-Through:Verification of Condition. Bujler, upon reasonable notice, shall have the right to walk though
the Property prior to Closing to verify that the physical condition of the Property and inclusions complies with this contract
19. JtECOMMENDATION OF LEGAL AND TAX COUNSEL.,By signing this document, Buyer and Seller acknowledge that
the Selling Company or the Listing Company has advised that this document has important legal consequences and has
recommended the examination of title and consultation with legal and tax or other counsel befog signing this contract.
20. TIME OF ESSENCE AND REMEDIES,lime Is of the essence hereof. If any note or check received as Earnest Money
hereunder or any other payment due hereunder is not paid,honored or tendered when due,or if any other obligation hereunder is
not performed or waived as herein provided,there shall be the following remedies:
a. If Buyer Is In Default: •
C.I (1) Specific Performance. Seller may elect to treat this contract as canceled,In which case all payments
and things of value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages
as may be proper, or Seller may elect to treat this contract as being In full force and effect and Seller shall have the right to
specific performance or damages,or both.
(2) Liquidated Damages.All payments and things of value received hereunder shall be forfeited by Buyer
and retained on behalf of Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such
payments and things of value are LIQUIDATED DAMAGES and(except as provided In subsection c)are SELLER'S SOLE AND
ONLY REMEDY for Buyer's failure to perform the obligations of this contract. Seller expressly waives the remedies of specific
performance and additional damages.
b. If Seller Is in Default. Buyer may elect to treat this contract as canceled, In which case all payments and
things of value received hereunder shall be returned and Buyer may recover such damages as may be proper,or Buyer may elect •
to treat this contract as being in full force and effect and Buyer shall have the right to specific performance or damages,or both.
c. Costs and Expenses. In the event of any arbitration or litigation relating to this contract, the arbitrator or court
shall award to the prevailing party all reasonable costs and expenses,including attorney fees.
21. MEDIATION. If a dispute arises relating to this contract, prior to or after Closing, and is not resolved, the parties shall
first proceed in good faith to submit the matter to mediation. Mediation is a process In which the parties meet with an impartial
person who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to
the dispute must agree before any settlement is binding. The parties will jointly appoint an acceptable mediator and will share
equally in the cost of such mediation. The mediation, unless otherwise agreed, shall terminate in the event the entire dispute Is
not resolved 30 calendar days from the date written notice requesting mediation Is sent by one party to the other(s). This Section
shall not alter any date in this contract,unless otherwise agreed.
22. EARNEST MONEY DISPUTE, Notwithstanding any termination of this contract. Buyer and Seiler agree that, In the
event of any controversy regarding the Earnest Money and I .fines of value held by broker or Closing Company (unless mutual
written instructions are received by the holder of the Earnest Pit may and things of value),broker or Closing Company shall not be
required to take any action but may await any proceeding, or -1 broker's or Closing Company's option and sole discretion, may
• nterplead all parties and deposit any moneys or things of value do a court of competent jurisdiction and shall recover court costs
nd reasonable attorney fees.
23. TERMINATION. In the event this contract is tannin:.-•d, all payments and things of value received hereunder shall be
returned and the parties shall be relieved of all obligations here-Ider,subject to§§10c,21 and 22.
CBS 3-9-99 Contract To Buy And Sell Real Estate(Vacant Lana•Farr Ranch• ncingl U
ni,lmnmmM w Formu/atneraterned 19111,1127 a. rims Saar Wagj _-. y ,g II Page/045
V
Masten:M1 W f.Mara IS,79911111:11
24, ADDITIONAL PROVISIONS. (The language of se additional provisions has not been approver the
Colorado Real Estate Commission.)
Set Addendum attached hereto and made a part of fhls contract.
•
25. ENTIRE AGREEMENT: SUBSEOUENT MODIFICATION: SURVIVAL This contract constitutes the entire contract
between the parties relating to the subject hereof,and any prior agreements pertaining thereto,whether oral or written, have been
merged and integrated into this contract. No subsequent modification of any of the terms of this contract shall be valid, binding
upon the parties, or enforceable unless made in writing and signed by the parties. Any obligation In this contract which, by its
terms,is intended to be performed after termination or Closing shall survive the same.
26. FACSIMILE Signatures X May iD May Not be evidenced by facsimile. Documents with original signatures shall be
provided to the other party at posing,or earlier upon request of any party.
27. NOTICE Except for the notice requesting mediation described in §21, any notice to Buyer shall be effective when
received by Buyer or by Selling Company and any notice to Seller shall be effective when received by Seiler or Listing Company.
28. NOTICE OF ACCEPTANCE: COUNTERPARTS. This proposal shall expire unless accepted in writing, by Buyer and
Seller, as evidenced by their signatures below, and the offering party receives notice of acceptance pursuant to §27 on or
before Acceptance Deadline Date and Acceptance Deadline Time (§2c). If accepted, this document shall become a
contract be Seller Buyer. A copy of this document may be executed by each party, separately, and when each party
has e copy such copies taken t ther II be deemed to be a full and complete contract between the parties.
gr ens Broa.Concrete Buyer
•
Date of Buyer's Signature: Date of Buyers Signature:
Buyers Address:5550 Sherida . Buyer's Telephone No:303429-5850
Ary a,CO 8000 Buyers Fax No:303429-5916
IN E:If this fd r is being countered or rejected,do not sign this document. Refer to§29]
/9-DI
I Iler Jerry Nix Seller
ate o Seller's Signature: Date of Seller's Signature:
Sellers Address:1659 Rd.44 Sellers Telephone No:
Gllcrest,CO 80623 Seller's Fax No:
29. COUNTER:REJECTION.This offer is °Countered °Rejected.
Initials only of party(Buyer or Seller)who countered or rejected offer
^' END OF CONTRACT
Note:Closing instructions should be signed on or before Title Deadline.
BROKER ACKNOWLEDGMENTS%The undersigned Broker(s)acknowledges receipt of the Earnest Money deposit specified In§4
and,while not a party to the contract,agrees to cooperate upon request with any mediation conducted under§21.
Selling Company Brokerage Relationship, The Selling Company and its licensees have been engaged in this
transaction as !»Buyer Agent °Seller Agent1Subagent :3 Dual Agent °Transaction-Broker.
Listing Company Brokerage Relationship The Listing Company and its licensees have been engaged in this
transaction as ix Seller Agent °Dual Agent °Transaction-Broker.
BROKERS'COMPENSATION DISCLOSURE.
Selling Company's compensation or commission is to be paid by: Buyer (Seller LiListing Company °Other
(To be completed by Listing Company)Listing Company's compensation or commission is to be paid by f)Buyer xSeller
u Other: ._.. _—_
Selling Company:Phil!Foster end Compny (Name of Company)
By:
Signature Peter G.Gunderson Date
Selling Company Address:469 S.Chevy St,Ste.203 _ Selling Company Telephone No:303499-9422
Denver,CO 80246 _ Selling Company Fax No:303-399-0936
Listing Company:Wilson and Assoc. (Name of Company)
By:
Signature Bruce J.Hiller Date
'sting Company Address:5419 Laura Dawn Ave. Listing Company Telephone No:970-284-5493
.heyenne,Wy 80209 Listing Company Fax No:970-284-5493
CBS 54.09 Contract to Buy and Sell Red Estate(Vaunt Land-Farm-Ranch-Seller Financing)
oeseerrwFormulsmr'fwatate.te.saws Page 6 of 5
MONDE hWy,Midi 14240112:134.
ADDENDUM
To that certain Vacant Land/Farm and Ranch Contract to Buy and Sell Real Estate
dated March 15, 2001, by and between Owens Bros. Concrete, Co., as Buyer, and
Jerry Nix as Seller, concerning certain real property located in part of NEJ4,
NW/4SE14, Section 28, T3N, R67W, 6th P.M.Weld County Colorado containing 200
acres+/-.
ADDITIONAL PROVISIONS:
a) Inspection. Section 10 shall be amended by the addition of the following language:
The term "inspection" shall include l i not be limited to an inspection of the
Property, an inspection of the Inclusi( and a determination of the existence of
nonexistence of PCB transformers, : 'on gas, hazardous or toxic substances,
and/or underground storage tanks in o i the Property.
b) Indemnification. Buyer will indemnif} ind hold Seller harmless from and against
any and all obligations, claims, losses, emages, costs and materials performed or
furnished with regard to the Property a1 lie instance or.request of Buyer and Buyer
shall insure that no lien of any kind is ti d with regard to the Property on account of
any such services, labor or materials. 1 order to adequately protect Seller from any
such claims and liens, Buyer will no y Seller in advance of each contract or
agreement into which it enters for prov mg services, labor or materials with regard
to the Property, identifying the name o: he contracting party, the labor, services or
materials to be furnished. Furthermoi' at all times after the date of this contact,
Buyer shall send the following notice ti' II suppliers for services, labor or materials,
and shall continuously keep such m :e posted in conspicuous places on the
Property:
'The interest of the owners of this : operty shall not be subject to any lien for
services, labor, materials or equipm it furnished with regard to this Property at
the request of any person other than Ile owners.'
c.) Hazardous Materials/ADA Disclosure The parties acknowledge that the Property
may contain materials that may have b' 'n or may be in the future determined to be
toxic, hazardous or undesirable ("Ha wdous Materials"), and may need to be
specifically treated'or removed. In addi 'on, the Property may have been subjected
to underground or above-ground storag tanks or may have been contaminated by
other sources. Current and future let' •ral, state and local laws may require the
cleanup of the Hazardous Materials at e expense of those parties who have been
in the chain of title of ownership of the 'roperty. The parties acknowledge that the •
Property may be subject to the Amer* •ns With Disabilities Act ("ADA"), a federal
law, which requires, among other ma. .rs, that tenants and/nr owners of "public
accommodations" remove barriers in 'der to make the Property accessible by
disabled persons and provide auxilia; aids and services for hearing, vision or
speech impaired persons. The parties :knowledge that Phill Foster and Company
recommends that all current and futu , owners and tenants with respect to the
Property seek the advice of knowledge le legal counsel, architects, environmental
engineers, and other consultants in c' mection with determining the existence or
nonexistence of Hazardous Materials id complying with the requirements of the
ADA.
d.) Survey. As provided in Survey dates. ''ebruary 16, 2001, but excluding E/2SE/4
containing 80 acres more or less.
e.) Seller's Cooperation. Seller agrees • fully cooperate with Buyer in applying for
and obtaining appropriate government; • approvals for sand and gravel operations.
Alt such applications and approvals sh II be at the sole cost of the Buyer, and no
action shall be taken prior to closing hich will irrevocably obligate the Seller or
encumber the Property,without the exp "ss consent of the Seller. •
f.) Property Access. At all times after Iv •C, Buyer shall have the right of access to
the Property without charge to test, ii nest, and evaluate the Property as Buyer
deems appropriate. All such tests, insi••3ctions and evaluations shall be done in a
manner as to try not to damage any grog ing crops.
g.) Environmental Report. Buyer shall ht ve the option to obtain, at its sole cost, an
environmental report concerning hazaubus material on the Property. Buyer shall
have forty-five (45) days from MEC within which to give Seller written notice of any
objection to the condition of the Properh as disclosed by such environmental report.
h.) Permits and Approvals Contingency The closing of this contract is contingent
upon Buyer, at Buyer's sole cost and expense, obtaining all necessary
governmental permits and approval as x mining of sand and gravel within six (6)
months from MEC.
i.) Earnest Money Deposit Redemption. The earnest money check hereunder shall
be non-refundable after forty-five (45) c 'endar days from MEC. In the event Buyer
does notify Seller of intent to terminate this contract before 45 days from MEC all
monies plus interest are to be returned I •buyer.
j.) Earnest Money Nonrefundable. The lamest money check receipted for herein
shall apply against the purchase price, shall be nonrefundable after 45 days, and
shall become the sole and exclusive p rperty of the Seller except in the event of
Seller's failure to perform under this co 'ract or deliver good and merchantable title
pursuant to Sections 7 and 8 hereof.
k.) Earnest Money Deposit/Interest-Bear .rg Account Upon deposit of the earnest
money check, said deposit shall be ilaced in an interest-bearing account or
Certificate of Deposit by the Sellers A! :mt which shall mature prior to closing in a
federal or state chartered bank or savior: s and loan institution. The accrued interest
on said earnest money deposit shall be le sole and exclusive property of the Buyer;
provided, however, (in addition to the i' 'nedies set forth In Section 20 in the event
this contract fails to close as a result of• n act of the Buyer, all accrued interest shall
become the sole and exclusive property !if the Seller.
I.) "As Is" Condition. Buyer is acquirini the Property in an "as is condition and is
relying upon the results of Buyers • Ain investigation concerning the physical
condition of the Property pursuant to S ction 10. Seller makes no representations
either express or implied concerning O • physical condition of the Property. Buyer
acknowledges that the Seller and Phill Foster and Company have advised the Buyer
to undertake an inspection of the Property relative to the matters set forth in this
paragraph.
m.)LIke-kind Exchange. Seller shall have the right, at Seller's option, to dispose of
the Property through a transaction that is structured to qualify as a like-kind
exchange of property within the meaning of Section 1031 of the Internal Revenue
Code of 1986. Buyer agrees to cooperate with Seller in effecting a qualifying like-
kind exchange through a trust, escrow or other means as determined by Seller.
Seller shall bear the additional transaction costs and all reasonable costs and
expenses incurred by Buyer attributable to the closing of a qualifying exchange
requested by Seller. In no event shall any like-kind exchange contemplated by this
provision cause an extension of the date of closing set forth herein nor shall Buyer
be required to take title to any real property other than the Property.
n.) Acreage Adjustment The purchase price is computed upon the Property
containing 200 net acres,611.1allit. In the event the Survey as called for
herein reflects a greater or lesser amount than 200 net acres, the purchase price
shall be adjusted accordingly rounded to the nearest dollar. Any increase or
decrease in the purchase price shall be reflected in the cash required at closing.
Net acreage shall be defined as the total acreage less existing or dedicated
roadways as of the date of mutual execution of this contract; provided, however,that
private roadways within the Property or easements, rights-or-way, streams and
minor encroachment of fences or other improvements on the Property shall not be
deducted from total acreage.
2
rq�yY xaw.Ya TO �(?�?
o.) Fax Transmittals. The Buyer and Seller agree that a facsimile transmittal of this
contract shall be considered as an originally executed document and shall be
binding upon the parties hereto. The Buyer and Seller further agree that the exact,
originally executed contract which was transmitted by facsimile shall be delivered to
the appropriate party via U.S. mail, messenger, or other acceptable delivery service
within seven(7)calendar days from the date of said facsimile transmittal.
p.) Calendar Days/Business Days. As used in this contract, the term "calendar days"
shall be deemed to mean each and every day of the calendar year. The term
"business days" shall be deemed to mean each and every day of the calendar year,
excluding Saturdays, Sundays, And Federal or Sate holidays, In the event any date
called for herein falls on a Saturday, Sunday of Federal or sate holiday, said date
shall be extended to the next business day following such Saturday, Sunday or
Federal or State holiday.
q.) MEC. As used in this contract,the term"MEC" shall be defined as mutual execution
of this contract.
r.) This contract is expressly contingent upon the approval of the Board of Directors of
Owens Bros. Concrete Co.within 45 days of MEC.
s.) Mineral Rights. Seller to retain and reserve all rights to oil and gas and royalty
interests to same. Seller to convey all right to sand and gravel and other common
variety minerals to buyer.
t.) Water rights. Seller to retain all rights to Lupton Meadows Ditch and to Strong and
Herren Farm Inc. Wells #4 and #5 and related sprinkler equipment, pumps etc. \\I,
Seller to convey to buyer by appropriate transfer document at closing 1*shared of
Last Chance Ditch and to Strong and Herren Farms Inc. Well#1 and #3 and related it 11
titpumps, casing, pipe, etc.
u.) Partial Releases. Partial releases shall be made at 125% of sales price per acre
and releases shall be granted by each individual "field" in their individual
totality. For example, a field of 40 acres can only be released when'of
principal has been paid to seller by buyer. The,-down payment will apply
as credit to the first"field"released.
v.) Western Access. Seller agrees to cooperate and grant necessary access along
the western boundary of Sec. 28: NE/4 and NW/4SE/4 to buyer to use as a road
connector to the S/2 of SW/4 of Section 28 and SW/4 of SE/4 of Section 28.
w.)Farm Lease. Seller agrees to lease back all un-mined acreage on a year-to-year
basis at a lease rate of per acre for corn and r acre for onions
and cabbage, to be paid in total after hnivest, but not later t an December 1. Buyer
to notify Seller no later than January E. of each year as to land to be taken out of
farm production for that year. Seller to pay power costs for the wells and pumps,
ditch maintenance and water assessments for ditch water used. Buyer to pay for
maintenance of pumps.
x.) Closing. Closing shall occur 20 da 's after mining permit is granted by Weld
County.
y.) Phill Foster and Company is acting as a buyer's agent in this transaction.
Commission will be paid by seller.
3
•
•
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PHILL FOSTER (by line C.l.r.d.Peal goat.Commons Ion,(CLI-T-9 s)
•
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CLOSING INSTRUCTIONS
Dale: March 15,2001
1. Jerry Nix (Seller)
and Owens Bros.Concrete _ (Buyer)
engage Transna nntle Company
ion w --Z(`oossing Company),
who agrees to provide closing and settlement services in connection the closing of tit- eTo oowwing daalbed rere tamElhe County of
Weld .Colorado,to wit: NEJM,NW/4SEN Sec.28,TaN,RaiW containing 200 acres more or less
also known as: N/A
Street-Address ----- - ----
.. Zity --_--Slate
2. Closing Company is authorized to obtain information,and agrees to prepare,obtain,deliver and record all documents,excluding preparation of legal
documents,necessary to carry out the terms and conditions of the Contract to Buy and Sell Real Estate,dated March 15,2001
with any counterproposals and amendments attached(Contract).
3. Closing Company will receive a fee not to exceed S for providing these closing and settlement services to be the expense of
Buyer and Seller equally shared •
4. ClosingCompany is authorized to receive funds and to disburse when all funds received are either:available for immediate withdrawal as a matter of
right from the financial institution in which the funds have been deposited or are available for Immediate withdrawal as a consequence of an agreement of•
financial Institution in which the funds are to be deposited or a financial Institution upon which the h(nda an to be drawn(Good Funds).
5. Closing Company is not authorized to release any documents or things of value prior to receipt and disbursement of Good Funds,except as pro-
vided in Sections 10 and II.
6. Closing Company shall disburse all funds,including real estate commissions,except those funds as may be separately disclosed in writing to Buyer
and Seller by Closing Company or Buyer's lender on or before closing.All parties agree that no one other than the disburses an assure that payoff of loans
and other disbursements will actually be made.
Y. Seller will receive the net proceeds of dosing as indica�sterd: ❑cashiers check at Seller's expense. l_i funds electronically transferred(wire transfer)
to an account specified by the Seller,at Seller's Yu expense;or ClosingCompany's trust account check.
t. Buyer and Seller will furnish any additional information and documents required by Closing Company which will be necessary to complete this
transaction.
9. Closing Company will prepare and deliver an accurate,complete and detailed closingstatement to Buyer and Seller at lime of closing
10.If dosing does not occur,Closing Company,except as provided herein,Is authorized and agrees to return all documents,monies,and things of value
'to the depositing party and Closing Company will be relieved from any further duty,raponsibllity or liability in connection with these instructions. In
addition,any promissory note,deed of trust,or other evidence of Indebtedness signed by Buyer,shall be voided by Closing Company,with the originals)
returned to Buyer and•copy to Buyer's lender.
11.If an conflicting demands are made on the Closing Company,at its sole discretion,Closing Company m hold any monks,documents,and thin Y p Y may e
if value rewired from any prey except Buyer's lender.CIoaInSCompany shall retain such kerns until(I)receipt of mutual written instruction from Buyer
and Seller,or(2)until•eivll action between Buyer and Seller shall have been resolved in a Court of competent Jurisdiction;or(3)In the alternative,Closing
Company may,la It.sole discretion,commence a civil action to Intel-plead,or,interpl ad in any existing civil action,any documents monies or other things
of value received by Closing Company. Such deposit with the Court shall relieve ClosingCompany of all further liability and responsibility and Closing
Company shall be entitled•o all court costs and reasonable attorneys'fees.
12.These closing Instructions may only be amended or terminated by written instructions signed by Buyer,Seller and Closing Company.
13.The Internal Revenue Service and the Colorado Department of Revenue may require Closing Company to withhold•substantial portion of the
proceeds of this sale when Seller either(a)Is a foreign person or(b)will not be a Colorado resident after dosing Seller should inquire of Seller's tax advisor
to determine If witholding applies or If an exemption exists.
10.Special Instructions:
IS.The Closing Instructions may be executed by each Buyer,Seller and Closing Company Individually and when each Buyer,Seller and Closing
Companyh executed a copy f these Closing Instructions,such copies taken together shall be deemed to be full and complete contract between the parties.
APPROV D AND C Dt
Sella/ 7-0/ Sella
Je Nix Date Date
Social/Sew:it Social Security No.
Buyer B/ Bnya
Owens Bros anomie ate --- _ _ - - ---Barr
Social Security No. _ Social Security No.
Closing Company:Transnatlon Tile Company
By:
Title Date
(TO BE COMPLETED ONLY BY BROKER AND CLOSING COMPANY)
Phil Foster and Company (Broker)enpges Closing Company as Broker's Scrivener to complete,
for•fee not to exceed$ 5.00 at the sole expense of Broker,the following legal documents:x Deed 0 Bill of Sale 0 Colorado Real
Estate Commission Approved Promissory Note and Colorado Real Estate Commission Approved Deed of Trust.
The documents stated above shall be subject to Broker's review and approval and Broker acknowledges that Broker is responsible for the accuracy of the
above documents.
Closing Company shall pay real estate commissions a disbursement as follows:
ListingCompany, Wilson and Associates paid by Seller 2.0%
Selling Company, Phlll Foster and Company paid by Seller___
20%
Other:Banks and Gesso(Paul Gesso) 2.0X - II T1
Broker Phill Foster and Company Closing Company Trananation Tide Company
By: By:
Peter G.Gunderson Date Date
No.Clad-9.95. CLOSING INSTRUCTIONS — '—'—
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CLOSING INSTRUCTIONS
Date:_ March 15,2001
I. Jerry Nix (Seller)
and Owens Bros.Concrete (Buyer)
inn TransnaViiintle Company (Closing Company),
who agrees to provide closing and settlement serriw in conneetl with the closing of the following described i 4 gain the County of
Weld .Colorado,to wit: NEM,NW/ISE/Sec.28,17N,ROTWcontaining 200 acres more orlgas
also known as: N/A
Atrcci ddrese —_— —_—_ —_--__—_
ft),__ --_— Slate 2ip
2. Closing Company is authorized to obtain information,and agrees to prepare,obtain,deliver and record all documents,excluding preparation of legal
documents,necessary to carry out the terms and conditions of the Contract to Buy and Sell Real Estate,dated March 15,2001
with any counterproposals and amendments attached(Contract).
3. Closing Company will receive a fee not to exceed S -for providing these closing and settlement services to be the acme.of
Buyer and Seller equally shared •
4. ClosingCompany is authorized to receive funds and to disburse when all funds received are either:available for immediate withdrawal as a matter of
right from the financial institution in which the funds have been deposited or are available for immediate withdrawal as a consequence of an agreement cf•
financial Institution in which the funds are to be deposited or•financial institution upon which the lipids arc to be drawn(Good Funds).
5. Closing Company is not authorized to release any documents or things of value prior to receipt and disbursement of Good Funds,except as pro.
vided In Sections 10 and II.
6. Closing Company shall disburse all funds,including real estate commissions,except those funds as may be separately disclosed in writing o Buyer
and Seller by Closing Company or Buyer's lender on or before closing.All parties agree that no one other than the disburser cast assure that payoff of loans
and other disbursements will actually be made.
7. Seller will receive the net proceeds of dosing as indicated:O cashiers check at Sellers expense. i_i funds electronically transferred(wire transfer)
to an account specified by the Seller,at Sellers expense;or x ClosingCompany's(rust account check.
S. Buyer and Seller will furnish any additional information and documents required by Closing Company which will be necessary to complete this
transaction.
9. Closing Company will prepare and deliver an accurate,complete and detailed closing statement to Buyer and Seller at time of closing.
1 0.If closing does not occur,Closing Company,except as provided herein,Is authorized and epees to return all documents,monies,and things ofvalue
to the depositing party and Closing Company will be relieved from any further duty,responsibility or liability in connection with these instructions.In
addition,any promissory note,deed of trust,or other evidence of indebtedness signed by Buyer,shall be voided by Closing Company,with the original(s)
returned to Buyer and•copy to Buyer's lender.
II.If any conflicting demands are made on the Closing Company,at its sole discretion,Closing Company may hold any monks,documents,and things
of value received from any party except Buyer•lender.CloringCompany shall retain such Items until(I)receipt of mutual written instnsctlo.from Buyer
and Seller;or(2)until acivil action between Buyer and Seller shall have been resolved In•Court of competent jurisdiction;or(3)In the alternative,Closing
Company may,in Its sole discretion,commence a civil action to interplead,or,interplead in any existing civil action,any documents monies or other things
of value received by Closing Company.Such deposit with the Court shall relieve Closing Company of all further liability and responsibility and Closing
Company shall be entitled to all court costs and reasonable attorneys'fees.
12.These dosing instructions may only be amended or terminated by written Instructions signed by Buyer,Seller and Chang Company.
13.The Internal Revenue Service and the Colorado Department of Revenue may require Closing Company to withhold•substantial portion of the
proceeds of this sale when Seller either(a)is•foreign person or(b)will not be a Colorado resident after dosing.Seller should inquire of Seller's to advisor
to determine if whholding applies or if an exemption exists.
14.Special Instructions:
15.Thu Closing Instructions may be executed by each Buyer,Seller and Closing Company individually and when each Buyer,Seller and Closing
Company h executed a copyyfthese Closing Instructions,such copies taken together shell be deemed to be a full and completecontract between the pries.
APPR0V D AND C E'D,
Sella/ y 3_ -01 Seller
J Nix Date Date
Soc`drSecmh Social Security No.
Buyer As/ Buyer
Owens Bros oncrete ate Date
Social Security No. Social Security No.
Closing Company:Transnedon Title Company
By:
Title Date
(TO BE COMPLETED ONLY BY BROKER AND CLOSING COMPANY)
Phil Foster and Company (Broker)copies Closing Company as Brokers Scrivener to complete,
for a fee not to exceed S 5.00 at the sole expense of Broker,the following legal documents:x Deed O Bill of Sale O Colorado Real
Estate Commission Approved Promissory Note and x Colorado Real Estate Commkson Approved Deed of Trust.
The documents stated above shall be subject to Broker's review and approval and Broker acknowledges that Broker is responsible for the accuracy of the
above documents.
Closing Company shall pay real estate commissions at disbursement as follows:
Listing Company, Wilson and Associates paid by Seller 2.0%
Selling Company,Phil!Foster and Company paid by Seller 2.0%
_
Other:Banks and Gesso(Paul Gesso) 2.0% II 4 _% •
Broker Phil!Foster and Company ClosingCompany Transnatlon Tide Company
By: By:
Peter G.Gunderson Date Date
No.CIA-9-95. CLOSING INSTRUCTIONS —
111ra.snNMMFonreul.wr anal Mama NNN5Ltm
Piloted dr Peld.r.ar..er,is Mm rnsam
t
FRILL FOSTER The printed portions of this form haw been approv
a o r r.�•,r•i by the Colorado Real Estate Commission.(CBS 3.9.6.,
"'-`'' •:''..'•. THIS FORM HAS IMPORTANT LEGAL CONGEOUENCES
:eeinme®treer enea hamrt Wdw ohis AND THE PARTIES SHOULD CONSULT LEGAL,Ate TAX
apegnau.Bxie leinaa wnumemom OR OTHER COUNSEL BEFORE SIGNING.
CONTRACT TO BUY AND SELL REAL ESTATE s.
(VACANT LAND-FARM-RANCH) "'Jr
Date: March 15,2001' -. ,,a4,41
AGREEMENT. Buyer agrees to buy and the undersigned Seller agrees to eolith's Property defined below on the terms �.,:..,
d conditions set forth in this contract. w ,+ -
DEFINED TERMS. - ,t'
a. Lim!.Buyer, Owens Bros.Concrete
II '�- = `.J ...
take title to-the reel property described below as 0 Joint Tenants 0 Tenants In Common N(Other Comoredon• i
b. Property. The Property is the following legally described real estate: fi• -
1N,R87W,Sec.28 NE/4,NW/4SE/t containing 200 acres more or less 3
the County of Weld , Colorado, commonly known f
WA
reet Address City State 21p -r+.a -1,..t..;
gather with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto,all Interest • >
her in vacated streets and alleys adjacent thereto, except as herein excluded.
c. Dates and Deadlines. >-`•,
Item No. Reference Event Date or Deadline
1 §5a Loan Application Deadline WA '+• -
2 §6b Loan Commitment Deadline N/A V,4,1�
3 §5c Buyer's Credit Information D, •:Line from MEC
4 §5c Disapproval of Buyers Credit In line 30 days fromMEC L--;'n,r
5 §5d Existing Loan Documents Dr--:Itina Ir
e'
6 §5d Objection to Existing Loan 6, aline WA
7 45d Approval of Loan Transfer Dr:dune WA - vc.`,,.•`
8 §8a Appraisal Deadline WA--- -
.
9 §7a Title Deadline 20 days from MEC i
10 §7a Survey Deadline RA
11 §l Document Request Deadline yi from MEC
12 §Ba Title Objection Deadline 330 a�rom MEC 'xi
13 §8b ON-Record Matters Deadline --0--a7s from MEC •,--
14 §Bb Off-Record Matters Objection Headline - from MEC
15 §10 Sellers Property Disclosure Deadline —3'-aYsTrom NEC
16 i §10a Inspection Objection Deadline Ws from MEC
a.17 §10b Resolution Deadline —§doayi from MEC
§11 Closing Date see addendum
,al 4 516 Possession Date sat addendum ``. '. .
20 §16 Possession Time s'�esa dendum ' ti:.e.
21 525 Acceptance Deadline Date Mardi 20,2001
22 §25 Acceptance Deadline Time ---WPM '
i-a
•
y '
d. Attachments. The following exhibits, attuhtnnnts and addenda are s part of this contract:
ddendum canceling additional provisions. "' �
e. Applicability of Term. A check or similar mark in a box means that such provision Is 'x,
)braviation"NIA' means not applicable. pr applicable. The `x.44 INCLUSIONS AND EXCLUSIONS.
a. The Purchase Price Includes the following item, (Inclusions): r: •
(1) Elaine . If attached to the Property o,the date of this contract,lighting,heating,plumbing,ventilating, .. -tun :
rid air conditioning fixtures, Inside telephone Wring and con wting blocks/jacks. plants, mirrors, floor coverings, Intercom -''--},
ystems, sprinkler systems and controls, and WA -ta
•i
(2) Other Inclusions.lion the Property WI, `
her attached or not on the date of this contract:storm windows, .�„'
torn doors,window and porch shades, awnings, blinds, screen-, window coverings, curtain rods,drapery rods, storage sheds, ?
rid all keys. Check box It Included: O Smoke/Fire Detector. 0 Security System(s);and WA ,
(3) Trade Fixtures. With respect to trade fixtures, Seller and Buuyer agree as follows:WA
•
(4) Water Rights.The following legally des-abed water rights:ll"ah share.of Last Chance Ditch plus
'tang and Herren wells a1 and a3. L t.
•
(6) Growlno Crops,With respect to the gri wing crops Seller and Buyer agree as follows:2001 crop to z
eller,see addendum
=,a
-i-
.-,,,r1, .'
nnnanenMMn
3S3-e-se Contract to Buy and Bell Real Estate)Vacant Land•Farm•Penn'• lofecna)
eleammeeerFmernals taesenwea tonna Barr•r s( '_• strn n _ Palle tor III:-
4 .,..
heeM ear mete Iliad,team lent
b. Instruments of Transfer. The Inclusions are to be conveyed at h Closing ae and clear tr all taxes, and
ancurnbrances, except as provided In§12.Conveyance shall be by bill of sale or other applicable legal instrument(s).Any water .y
rights shall be conveyed by—. S�yp�nyc}e1 Barra deed or other applicable legal InsWment(s). 3.
c. gxclusions. 1Te 1oUow n;a uses are excluded from this sale:B/A — 4
4. PURCHASE PRICE AND TERMS. The Purchase Price set forth below shad be payable In U.S. Dollars by Buyer as ��
vllows:
ten No. Helrence tern Mnot "- A1II ----'-'-
1 54 vtrclase_Price—' __ _ • 4
L §4a tamest Moray
3 §4b rlaw Loan - —
4 §4o Assumption Balance
- _yr or - - e ..
B §4e - iIIWat Closing .— ---- •
/ u OTC — i--' —'--
a. Earnest Money,The Earnest Money set forth in this Section,In the form of _check —
Is part payment of the Purchase Price and shall be payable to and held by __Xcaaametion_211.Le______,in
Its trust account,on behalf of both Seller and Buyer. The parties authorize delivery o the Earnest Money deposit to the Closing
Company,If any,at or before Closing.
b. New Loan.(Omitted as inapplicable.)
c. Assumption. (Omitted as Inapplicable.)
d. Seller or Private FlnancI . (Omitted as inapplicable.)
e. Cash at Closing. All amounts paid by Buyer at Closing Including Cash at Closing, plus Buyer's dosing costs,
stall be in funds which comply with all applicable Colorado laws, which include cash, electronic transfer funds, certified check.
savings and loan teller's check and cashier's check(Good Funds).
5. FINANCING CONDITIONS AND OBLIGATIONS.
a. Loan Application. (Omitted as inapplicable.)
b. Loan Commitment,(Omitted as inapplicable.)
c. Credit Information,(Omitted as Inapplicable.)
d. Pristine Loan Review, (Omitted as Inapplicable.)
6. APPRAISAL PROVISIONS.
a. Appraisal Condition, This subsection a. O Shall X Shall Nat apply.
Buyer shall have the sole option and election to terminate this contract H the Purchase Price exceeds the Property's
valuation determined by an appraiser engaged by The contract shall terminate by Buyer
giving Seller written notice of termination and either a copy of such appraisal orr Mitten notice from lender which confirms the
Propreceivrt such
Ist less of th the an on ore Price, received on or before the Appraisal Deadline (§2o), Buyer waives an (rgh). If terminate
to not
this subsection. any right to terminals under
b. Cost of Appraisal,Cost of any appraisal to be obtained after the date of this contract shall be timely paid
by O Buyer l I Seller.
7. gVIDENCE OF TITLE a. gridence of Title: Survey. On or before TIUe Deadline (§2c), Seller shall cause to be furnished to Buyer,
Seller's expense, a c rrent commitment for owner's title Insurance policy in en amount equal to the Purchase Price or If this
x is checked, ❑An Abstract of UUe certified to a current date. If a title Insurance commitment is furnished, it j4 Shall
i )Shall Not commit to delete or Insure over the standard
exceptions which relate to:
(1)parte*in possession,
(2)unrecorded easements,
(3)survey matters,
(4)any unrecorded mechanics'liens,
(5)gap period(effective date of commitment to date deed Is recorded),and
(6)unpaid taxes, ments and unredeemed tax sales prior to the year of Closing.
Any additional premium expense to obtain this additional coverage shall be paid by 0 Buyer N Seller. An amount
ate-8 ._13 for the cost of any improvement location certificate or survey shall be paid by
[_j Buyer DA Seller. If cost exceeds this amount, R/a,_ ._ shall pay the excess on or before Closing. The
Improvement location certificate or survey shall be recmv�by-ouyer on or before Survey Deadline (§2c). Seller shall cause
the title insurance policy to be delivered to Buyer as soon as practicable at or after Closing.
b. Copies of Exceptions.On or before Title Deadline(§2c), Seller, at Seller's expense, shall furnish to Buyer,
(1) a copy of any plats, declarations,covenants, conditions and restrictions burdening the Property, and(2)if a title insurance
commitment Is required to be furnished, and U this box is checked IS:Copies of any Other Documents (or, if Illegible,
summaries of such documents) listed in the schedule of exceptions (Exceptions). Even if the box is not checked, Seller shall
have the obligation to furnish these documents pursuant to this subsection if requested by Buyer any Ume on or before the
Document Request Deadline (§2C). This requirement shall pertain only to documents as shown of record In the office of the
clerk and recorder(s). The abstract or title insurance commitment, together with any copies or summaries of such documents
furnished pursuant to this Section,constitute the title documents(Title Documents).
8. TITI c
a. Title Review, Buyer shall have the right to Inspect the Title Documents. Written notice by Buyer of
unmerchantability of title or of any other unsatisfactory title condition shown by the Title Documents shall be signed by or on
behalf of Buyer and given to Seller on or before Title Objection Deadline(§2c),or within five(5)calendar days after receipt by
Buyer of any Tide Documents)or endorsement(s)adding new ExcepUcn(s)to the title commitment together with a copy of the
Title Document adding new Exception(s)to title. U Seller does not receive Buyer's notice by the date(s)specified above, Buyer
accepts the condition of titre as disclosed by the Tolle Documents as satisfactory.
b. Matters not Shown by the Public Records. Seller shall deliver to Buyer, on or before Off-Record Matters
Deadline (§2c)true copies of all leases)and surveys)in seller's possession pertaining to the Property and shall disclose to
Buyer all easements, liens or other title matters not shown by the public records of which Seller has actual knowledge. Buyer
shall have the right to Inspect the Property to determine if any third party(les) has any right in the Property not shown by the
public records (such as an unrecorded easement, unrecorded lease, or boundary line discrepancy). Written notice of any
unsatisfactory conditions)disclosed by Seller or revealed by such Inspection shall be signed by or on behalf of Buyer and given
to Seller on or before Off-Record Matters Objection Deadline (§2c). If Sear does not receive Buyers notice by said date.
Buyer accepts title subject to such rights,If any,of third parties of which Buyer has actual knowledge.
a Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBUGATION
1EBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY
CHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL
LEVIES AND UCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE
RESULTING IN THE INABIUTY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNES WITHOUT SUCH AN
t.BS 349 t.onl,adi I e Soy And Sell KW State(Vacant Land-)-arm -ntlnitted) y//JI
NI k Wed Formufa WrYY
tnsA.e.rr en.nslm
6a Page 2 of S
:.: ,: ..
INCREASE IN MILL LEVIES. BUYER SHOULD INVESTIGA, CBE DEBT FINANCING REQUIREMENTS OF THE AUTNt 1ZED
GENERAL OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING
SUCH INDEBTEDNESS,AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES.
In the event the Property is located within a special taxing district and Buyer desires to terminate this contract as• S
result.If written notice Is received by Seller an or before Off-Record Matters Objection Deadline(§2c),this contract shall then f
terminate. If Seller does not receive Buyers notice by such date, Buyer accepts the effect of the Property's Inclusion in
special taxing datrict(s)and waives the right to so terminate. n such 'r, + •
d. terms as h to Curs. If Seller receives notice at trvrterclnaldsylgy of title or any other unsatisfactory title eatlon(s)
:ommil
final expense to correc provided sarIn §8 a or b above, Seller shall use reasonable effort to correct said Items and bear any
closing, this p contract shall then lamer p-I r to posing. If such unsatisfactory title condtion(s)are not corrected on or before
Closing,waive objection to such items. provided, however, Buyer may, by written notice received by Sailer, on or before
e. Title Advisory. The Title Documents affect the title,ownership and use of the Property and should be reviewed
•
carefully. Additionally,other matters not reflected in the Title Documents may affect the die,ownership and use of the Property,
Including without limitation boundary lines and encroachments, area,zoning, unrecorded easements and claims of easements,
leases and other unrecorded agreements, and various laws and governmental regulations concerning land use, development end
environmental matters. The surface estate may be owned separately from the underlying mineral estate,and transfer of the
surface estate does not necessarily Include transfer of the mineral rights. Third parties may hold Interests in oil, gas, other
minerals, geothermal energy or water on or under the Property, which Interests may give them rights to enter and use the
Property. Such matters may be excluded from the title insurance policy. Buyer is advised to timely consult legal counsel with
respect to all such matters as there are strict time limits provided In this contract(e.g., Title Objection Deadline (§2e) and
Off-Record Matters Objection Deadline(§2c)).
9. LEAD BASED PAINT. Unless exempt, if the improvements on the Property Include one or more residential dwelling(s)
for which a building permit was issued prior to January 1, 1978, this contract shall be void unless a completed Lead-Based Paint
Disclosure(Sales)form is signed by Seller and the required real estate licensee(s),which must occur prior to the parties signing
this contract.
10. PROPERTY DISCLOSURE AND INSPECTION. On or before Sellers Property Disclosure Deadline(§2c), Seller
agrees to provide Buyer with•written disclosure of adverse matters regarding the Property completed by Seller to the best of
Seller's current actual knowledge.
a. Inspection Objection Deadline.Buyer shall have the right to have inspection(s)of the physical condtion of the
Property and inclusions, at Buyers expense. If the physical condition of the Property or inclusions is unsatisfactory In Buyer's
subjective discretion,Buyer shall,on or before Inspection Objection Deadline(§2c):
(1) notify Seller in writing that this contract is terminated,or
(2) provide Seller with a written description of any unsatisfactory physical condition which Buyer requires
Seller to correct(Notice to Correct).
If written notice is not received by Seller on or before Inspection Objection Deadline(§2c),the physical condition of
the Property and inclusions shall be deemed to be satisfactory to Buyer.
b.writing to a settlement theion Deadline.reof on or before RIf a esolution uce to Correct received Buyer
tion Deadline(§2c),this contract shall terminate one calendar agreed M
following
the Resolution Deadline,unless before such termination Seiler receives Buyers written vnl drawl of the Notice to CYorrrect.
c. Damage:Liens;Indemnity,Buyer is responsible for payment for all inspections,surveys,engineering reports
or for any other work performed at Buyers request and shall pay for any damage which occurs to the Property and Inclusions as
a result of such activities. Buyer shall not permit claims or liens of any kind against the Property for inspections, surveys.
engineering reports and for any other work performed on the Property at Buyers request. Buyer apses to indemnify, protect
and hold Seller harmless from and against any liability,damage, cost or expense Incurred by Seller in connection with any such •
inspection, claim,or lien. This indemnity Includes Seller's right to recover all costs and expenses incurred by Seller to enforce
subsection, Including sellers reasonable attorney fees. The provisions of this subsection shall survive the termination of
:ontract.
..
CLOSING. Delivery of deed(s)from Seller to Buyer shall be at Closing(Closing). Closing shall be on the date specified
as the Closing Date (§2c)or by mutual agreement at an earlier date. The hour and place of Closing shall be as designated by
Seller ens gsatsr__
12 TRANSFER OF TITLE Subject to tender or payment at Closing as r other terms and provision hereof, Seller shall execute and deliver a good and sent ern ant cerndiance by j-uyer vnth eed
to
Buyer,
at
Clg,iconveying the Property free and clear of all taxes except the general taxei icr Rthe year of Closing. Except
installed provided herein.of the title
of Buyer's signature
toyed free and clear of all liens, including any governmental liens for special Improvements
W hereon,whether assessed or not. Title shall be conveyed subject to:
a. those specific Exceptions described by reference to recorded documents as reflected in the Title Documents
accepted by Buyer in accordance with§8a(Title Review),
b. distribution utility easements,
c. those specifically described rights of third parties not shown by the public records of which Buyer has actual
knowledge and which were accepted by Buyer in accordance with§8b(Matters Not Shown by the Public Records),and
d. inclusion of the Property within any special taxing district,and
e. the benefits and burdens of any declaration and party wall agreements,If any,and
f, other
13. PAYMENT a ERaUfritirtriNtt.g. Any encumbrance _..r o t___be proceeds of this transaction or from any other source. �nired palE Shia be paid at or before Closing Iron the
14. CLOSING COSTS: DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in Good Funds, their respective
Closing costs and all other items required to be paid at posing,except as otherwise provided herein. Buyer and Seller shall sign
and complete all customary or reasonably required documents at or before aostng.Fees for real estate Closing services shall be
paid at Closing by )One-Half by Buyer and One-Half by Seller I I Buyer ri Seller I I Other iiiiiic and use tax that may accrue because o�Ns transaction shall be pce when b ue iLi Buyer by t..1 Baler I I Seller. Array riles
15. PROBATIONS. The following shall be paid��due by as e provided:
e d
a. Taxes. Personalpropertytaxes,pr y Caning Data,eal e s otaxesf p thedye:
mm l if any,c and Closing
real estate taxes Recent the year L of y dosing, based on
As The Taxes for the Calendar Year immediately Preceding Cowing ❑The Most Mill Levy and Most Recent
Assaasment [)Other
b. Rents. Rents based on t._1 Rens ActW 1Iy Reeelvea f l Aconuea:leas rity deposits held by Sailer hall be
credited to Buyer. Seller shall assign all leases to Buyer and Buyer shall assume such leases.
c. (Diller Prorations,Water,fewer-charges;and Interest on continuing joints),it any:and
-- -d.- .—Final Settlement,Unioi'Oili-eiCriii iiiiia inlxki these 16. POSSESSION. Possession of the Property shall be delivered to Buyer on Possesson Date and Possession Tlrne
(�20). subject to the following lease(s)or tenancy(s);
If taller, aNer Gosing, hill to deliver po ion as s a,.,,,tionally liable to Buyer for payment of$ ��• Sailer shall be lion D to (52c)until
it poses be.
Per day/nom the P ion to(§2c)until possession Lbw}Palm.-119 bntract 10 buy And Sent Real tattle bin*Wtl.perm•neneh-I',na
Ms r peso M Farsrufatgr p..r• Iry pLpr u.dl
emw Rn141 axe __ Page 3ot6
17. NOT ASSIGNABLE This contract shall not be assignable by Buyer without Seller's prior written consent.Essaot as so
restricted. this contract shall Inure to the benefit of and llndirg upon the heirs, personal representatives, sue xs and
assigns of the parties.
the IS. CONDITION OF. AND DAMAGE TO PROPERTY AND INCLUSIONS.Except as otherwise provided In this contract.
Property, Inclusions or both shall be delivered in the condition existing as of the date of this contract,ordinary wear and tear a.CWsirg,In an amount Casualty:nd ensuraancan `tan In the event the Property or Inclusions shall be damaged by fire or other casualty prior to u
Co Closing Dab nt of It the event s percent of the total Purchase Price,Seiler shall be obligated to repair the same before
•
,........contract may be terminated at the option of Buyer bey delivering is not repaired
Seller written notice of termination.Should cBuyer elect eed such s to carry •
nit this centre* despite such damage, Buyer shall be entitled to a or ran such damage to the Property and h cluslona of at pers'a, o all the insuranceany,plus proceeds a resulting
deductible provided for in such insurance payable credit Seller but not the owners'association. if the amount of any policy,such not to exceed the total Purchase Price.
b. l>amage: Inclusions• Serve
the Property, e.g. heating, plumbing, etc.) fag or biddamagedany between e t theor service(s)of this contract nCl and components possession,
of
whichever shall be earlier, then Seller shall be liable for the rreplacement date of ch and posing or pth a unit of
similar size, age and quality, or an ly to the that such Inclusion(s)maintenance
or replacement
a such
h
I clusion(s). services) or fixture(s) is not the responsibilitybut oniy extent s' association,the ma any, less insurance ol eeds
received by Buyer covering such repair or r d the ers' any damage Nang. less any is, fire by
proceeds
casualty,shall be borne by the party entitled to the
g crops,rips of loss for ov di §3 to growing a ty shall all e or other
such insurance proceeds or benefits for the growing if any,as provided in and such party be entitled to
c. Walk-Through:Verification of Condcrition.,If any.
Buyer, upon reasonable notice, shall have the right to walk through
the Property prior to Closing to verify that the physical condition of the Property and inclusions complies with this contract.
19. RECOMMENDATION OF LEGAL AND TAX COUNSEL By signing this document, Buyer and Seller acknowledge that
the Selling Company or the Listing Company has advised that this document has important legal consequences and has
recommended the examination of title and consultation with legal and tax or other counsel before signing this contract
20. TIME O other F ESSENCE AND REMEDIES.Time is of the essence hereof. If any note or check received as Earnest Money
not performed
a waived pas ayment due hereunder is not paid,honored or tendered when due,or if any other obligation hereunder is
a. )f Buyer Is In Default;�ided,there shall be the following remedies:
f I (1) S�edflc Performance Seiler may elect to treat this contract as canceled,in which case all payments
and things of value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages
as may be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall have the right to
specific performance or damages,or both
and (2) Liquidated Damages.Al payments and things of value received hereunder shall be forfeited by Buyer
paymentsretained andbehalf of Seller and both parties shall thereafter be released from all obligations hereunder. ft is agreed that such
—
things of value are UOUIDATED DAMAGES and(except as provided in subsection e)we SELLER'S SOLE AND
ONLY REMEDY for Buyers failure to perform the obligations of this contract. Seller expressly waives the remedies of specific
performance and additional damages.
b. If Seller Is In Default: Buyer may elect to treat this contract as canceled, in which case all payments and
•
things of value received hereunder shall be retuned and Buyer may-recover such damages as may be proper,or Buyer may elect
to treat this contract as being in hill force and effect and Buyer shall have the right to specific performance or damages,or both.
c. Costs and Expenses. In the event of any arbitration or litigation relating to this contract, the arbitrator or court
shall award to the prevailing party all reasonable costs and expenses,including attorney fees.
21.first MEDIATION. If a dispute arises relating to this contact, rior to or after Closing, and is not resolved, the parties shall
proceed hi good faith to submit matter to mediation. Mediation is a process in which the parties meet with ern impartial
person who helps tobefore resolve
die IJormally end confl aily• Mediators cannot Impose binding decisions. The parties to . .
the agree dispute mustany settlement is binding. The parties will---dually In the cost of such mediation The mediation, unless otherwise weed, aaOdnt an tithe acceptable eventmediator the and will shore
A resolved 30 calendar days from the date written notice requesting dirtied, shall terminate one netp r to the entire dispute in
shall not alter any date in this contract, lees otherwise agreed mediation la sent by party to the other(s). This Section
22. EARNEST MONEY DISPUTE, Notwithstanding any termination of this contract, Buyer and Seiler agree that, in the
event controversy y�re�ding Earnest Money and things of value held by broker or posing Company(unless mutual
required instructicas
take any re actrec but by the yy awaitof the Earnest Money and things of value),broker or Closing Company shall not be
nterpe tall parties a oe uit any or proceeding, or at broker's or Closing Company's option and sole discretion, may
and reasonable attorney fees.
p moneysthings of value into a court of competent jurisdiction and shall recover court costs
23. TERMINATION. In the event this contract Is terminated, all payments and things of value received hereunder shall be
returned and the parties shall be relieved of all obligations hereunder,sugect to§§10c,21 and 22.
24. ADDITIONAL PROVISIONS% (The language of these additional provisions has not been approved by the
Colorado Real Estate Commission.)
see Addendum attached hereto and sects apart_ of thL contract. •
.S}y.ey Contract I o buy And ben Heat Estate(Vacant Land-r-arm.panch.tawy.✓sz Omitted)
poles N
The arm pol Formulator'h,.u,�. $5131I071 BentSam kil Page 4 of 5
^
25. IRE AGREEMENT: SUBSEQUENT MODIFlCf
ENTV: SURVIVAL, This contract constitutes the entire act
between the parties relating to the aged hereof,and any prig, .greemenls pertaining thereto,whether oral or written.hay..aeon
merged and integrated into this contract No subsequent modification of any of the terms of this contract shall be valid,binding
terms,Is the Parties, or be performee unless
aaftter termination Closing writing signed by the the same.My obligation In this contract wNc1l,by is
24 FACSIMILt.Signatures May evidencedshal survive y cs �,provided to the other party at Closing, May Not be by facsimile. Documents with original signatures shall be lel
kp,or wares upon request of any party.
)&lured bf4 BuY ICE Except for the notice requesting mediating described In §21, any notice to Buyer shad be effective when
r or by Selling Company and any notice to Saga shall be effective when received by Salleeor Listing Company. .•
ROTICE OF ACCEPTANCE: COUNTERPARTS. This proposal shall expire unless accepted ht writing, by Buyer and
seller. as evidenced by their signatures below, and the offering party receives notice of acceptance pursuant to§27 on or
before Acceptance Deadline Date and Acceptance Deadline Time (§2c). If accepted, this document shall become a
contract Seiler and Buyer. A copy of this document may be executed by each party, separately, and when each party
has ex ed then copies taken together shall be deemed to be a fug and complete contract between the parties.
1O Owens roe. Concrete Co. Buyer
Date of Buyer's Signature:��i Tf- "29_�'� Date of Buyer's Signature:
"YSj'e�"'__ -_Buyer's Address:,_.—__5 .. ShtsiAadJl.L2d�__. Buyer's Telephone No:_ 9,999_ ,_303-429-5850..
_Aatadt,_c0 80002 - Buyers Fax No:...... ___—_. 303-429-5918.._.. .__
(NO •If this offs being countered or rejected,do not sign this document Refer to§29]
,
viler Seller
Date of Sellers Signature:(.11f -4- 000 Dale of Seller's Signature: _
Sellers A ess: /` a T I'/�— Seller's Telephone No:__ __
! j ^Y[Sr o .Pd2l Sellers Fax No: —____ .___.—
29. COUNTER;REJECTION.This offer is O Countered O Rejected.
Initials only of party(Buyer or Seller)who countered or rejected offer
END OF CONTRACT • •
f Note:Closing Instructions should be signed on or before Title Deadline.
r.,.UKER ACKNOWLEDGMENTS,The undersigned Brokers)acknowledges receipt of the Earnest Money deposit specified in§4
and,while not a party to the contract,agrees to cooperate upon request with any mediation conducted under§21.
Selling Company Brokerage Relationship. The Selling Company and its licensees have been engaged In this
transaction as Z Buyer Agent O Seller Agent/Subagent O Dual Agent []Transaction-Broker. •
Ustina Company Brokerage Relationship. The Listing Company and Its licensees have been engaged in this
transaction as O Seller Agent O Dual Agent O Transaction-Broker,.
BROKERS'COMPENSATION DISCLOSURE
Selling Company's compensation or commission is to be paid by: O Buyer ❑Seller Dig Listing Company I7 Other
(ToO Octher
by fisting Company)Listing Company's compensation or commission Is to be paid by L]Buyer M Seller
Selling Comp TN) shill Foe. _ (Name of Company)By: ar-
Signature Peter G. Gunder.° ate
Selling Company Address:169 S. Cherry St.. ste, 203 Selling Company Telephone No: _30,3z_3. 2,9=9_4(22__
Denver. co 80246 Sailing Company Fax No: 303-Sae-out_—
Listing Company: wilagn_4_14umg,_IBruce xr t t
`� 1 ..��aa.. asl. _ (Name of Company)BY: 1�kte.t. .—itt S.�_ lgi 4/ dJ
Signature Date
Listing Company Address: s4t9 z.ura o r.— Listing Company Telephone No: 57O� Qt.r i1q 3
Cheyenne., 1(T 80209 Listing Company Fax No: C,'7r7 -1,Y—S9' 3
Cea 3.9.99 Contract to Buy re Sell Reel Estee(Vacant Land.Fsrm artdl.FFl Omitted)
Ile lea peel M Fannuiawr'p ewer Mill SW atlr a _ Page 5 of 5
A0uENDUM
To that certain Vacant Land/Farm and Ranch Contract to Buy and Sell Real Estate
dated September 26, 2000, by and between Owens Bros. Concrete, Co., as Buyer,
and Ralph Nix as Seller, concerning certain real property
Section 28,T3N, R67W,6th P.M.Weld County Colorado containing 80 acres+S1Nf4,
ADDITIONAL PROVISIONS:
a) Inspection. Section 10 shall be amended by the addition of the following language:
The term "inspection' shall include but not be limited to an inspection of the
Property, an inspection of the Inclusions, and a determination of the existence of
nonexistence of PCB transformers, radon gas, hazardous or toxic substances,
and/or underground storage tanks in or on the Property.
b) Indemnification. Buyer will indemnify and hold Seller harmless from and against
any and all obligations, claims, losses, damages, costs and materials performed or
furnished with regard to the Property at the instance or request of Buyer and Buyer
shall Insure that no lien of any kind is filed with regard to the Property on account of
any such services, labor or materials. In order to adequately protect Seller from any
such claims and liens, Buyer will notify Seller in advance of each contract or
agreement into which It enters for providing services, labor or materials with regard
to the Property, identifying the name of the contracting party, the labor, services or
materials to be furnished. Furthermore, at all times after the date of this contact,
Buyer shall send the following notice to all suppliers for services, labor or materials,
and shall continuously keep such notice posted in conspicuous places on the
Property:
"The interest of the owners of this Property shall not be subject to any lien for
•
services, labor, materials or equipment furnished with regard to this Property at
the request of any person other than the owners?
c.) Hazardous MaterialswADA Disclosure. The parties acknowledge that the Property
may contain materials that may have been or may be in the future determined to be
toxic, hazardous or undesirable ("Hazardous Materials"), and may need to be
specifically treated or removed. In addition, the Property may have been subjected
to underground or above-ground storage tanks or may have been contaminated by
other sources. Current and future federal, state and local laws may require the
cleanup of the Hazardous Materials at the expense of those parties who have been
in the chain of title of ownership of the Property. The parties acknowledge that the
Property may be subject to the Americans With Disabilities Act ("ADA"), a federal
law, which requires, among other matters, that tenants and/or owners of 'public
accommodations" remove barriers in order to make the Property accessible by
disabled persons and provide auxiliary aids and services for hearing, vision or
speech impaired persons. The parties acknowledge that PhiII Foster and Company
recommends that all current and future owners and tenants with respect to the
Property seek the advice of knowledgeable legal counsel, architects, environmental
engineers, and other consultants in connection with determining the existence or
nonexistence of Hazardous Materials and complying with the requirements of the
ADA.
d.) Survey. Within forty (40) calendar days from waiver of due diligence contingency,
Seller shall furnish to Buyer, at Seller's expense, a current ALTA boundary survey
("Survey") prepared by a land surveyor licensed in the State of Colorado. The
Survey shall be certified to Seller, Buyer and the title insurance company and
performed on the Property and shall show thereon the correct legal description;
acreage; location of all fences; all boundary lines; any and all ditches, rivers and
streams, easements, rights-of-way, and adjacent roadways, if any; and the location
of all visible utilities on the property and all underground utilities for which there is
visible surface evidence. The Survey shall reflect all exceptions to title (where
applicable) as reflected on the title commitment and shall disclose that a physical
inspection on the Property revealed no improvements situated upon or adjacent to
the Property are the subject of any encroachments, and that no easements or rights-
of-way have been physically violated in any respect. In the event the items reflected
•
in the Survey are not in conformance with the provisions of this paragraph and
written notice of Buyer's objections is received by Seller within ten (10) calendar
days from the date of receipt of said survey by Buyer, Seller shall have a period of
ten calendar days from the date of receipt of said notice in which to cure any such
defects. In the event such defects are not cured within said ten (10) calendar-day
period, this'contract shall terminate at Buyer's option. If said written notice of
Buyer's objections to the Survey is not received by Seller or if Buyer elects to waive
the objections to the Survey, the Survey shall be accepted and this contract shall
remain in full force and effect.
e.) Due Diligence Contingency. The closing of this contract is contingent upon Buyer,
at Buyer's sole cost and expense, conducting all necessary investigations, including
but not limited to core test drilling, which shall be completed within forty five (45)
calendar days from MEC, and investigation of Seller's mineral rights, including all
sand aggregate and gravel rights to determine the feasibility of Buyer's intended use
for sand and gravel mining. In order to keep disturbance of the existing farming
operation to a minimum, Buyer agrees to coordinate with Seller in establishing
access routes to drilling sites. If Buyer is not satisfied with the results of said
investigation and written notice thereof is received by Seller within forty five (45)
calendar days from MEC, this contract shall terminate. If said written notice is not
received by Seller within the time period specified above, this contingency shall be
waived and the contract shall remain in full force and effect.
1.) Seller's Cooperation. Seller agrees to fully cooperate with Buyer in applying for
and obtaining appropriate governmental approvals for sand and gravel operations.
All such applications and approvals shall be at the sole cost of the Buyer, and no
action shall be taken prior to closing which will irrevocably obligate the Seller or
encumber the Property, without the express consent of the Seller.
g•) Property Access. At all times after MEC, Buyer shall have the right of access to
the Property without charge to test, Inspect, and evaluate the Property as Buyer
deems appropriate. All such tests, inspections and evaluations shall be done in a
manner as to try not to damage any growing crops.
h.) Environmental Report Buyer shall have the option to obtain, at its sole cost, an environmental rdous material on the have forty-five (45) days from ort I MECawith n which to give Seller writtennotice of any
objection to the condition of the Property as disclosed by such environmental report.
la Permits and Approvals Contingency. The closing of this contract is contingent
upon Buyer, at Buyer's sole cost and expense, obtaining all necessary
governmental permits and approval as for mining of sand and gravel within six (6)
months from the satisfaction or waiver of the Due Diligence Contingency set forth in
Section 21(e) ('Due Diligence Contingency). Buyer may extend the Permits and
Approvals Deadline for vats,e-month oertoda provided B rnotifies
S ler of Buver's itent to exe I e this ootien
C s a able eat ^d dan�sity vrf ti rnla
money at least�n a •- --;or to the expiration f ea r. a r•.
i 20
be non-s f s ante f mi I el
e d Co
refundabltahall ao r i s m nies
au n
j.) Earnest Money Deposit Redemption. The earnest money check hereunder shall
be non-refundable after forty-five (45) calendar days from MEC. In the event Buyer
does notify Seller of intent to terminate this contract before 45 days from MEC all
monies plus interest are to be returned to buyer.
k.) and the additional Earnest Money Nonrefundable. The earnest money check receipted for herein
shall apply
against the purchase price,t shall be n nrefundable, and shall ecome money deposits set forth in Sectionithe sole and
exclusive property of the Seller except in the event of Sellers failure to perform
under this contract or deliver good and merchantable title pursuant to Sections 7
and 8 hereof.
2
- s.
I.) Earnest Money Deposit/Interest-Bearing Account Upon deposit of the earnest
money check and receipt of the additional eamest money deposits as set forth in
Section 21(i), said deposits shall be placed in an interest-bearing account or
Certificate of Deposit by the Seller's Agent which shall mature prior to closing in a
federal or state chartered bank or savings and loan institution. The accrued interest
on said earnest money deposit shall be the sole and exclusive property of the Buyer,
provided, however, (in addition to the remedies set forth in Section 20 in the event
this contract fails to close as a result of an act of the Buyer, all accrued interest shall
become the sole and exclusive property of the Seller.
in.) "As Is" Condition. Buyer is acquiring the Property in an 'as is' condition and is
relying upon the results of Buyer's own investigation concerning the physical
condition of the Property pursuant to Section 10. Seller makes no representations
either express or implied concerning the physical condition of the Property. Buyer
acknowledges that the Seller and Phill Foster and Company have advised the Buyer
to undertake an inspection of the Property relative to the matters set forth in this
paragraph.
n.) Like-kind Exchange. Seller shall have the right, at Seller's option, to dispose of
the Property through a transaction that is structured to qualify as a like-kind
exchange of property within the meaning of Section 1031 of the Internal Revenue
Code of 1986. Buyer agrees to cooperate with Seller in effecting a qualifying like-
kind exchange through a trust, escrow or other means as determined by Seller.
Seller shall bear the additional transaction costs and all reasonable costs and
expenses incurred by Buyer attributable to the closing of a qualifying exchange
requested by Seller. In no event shall any like-kind exchange contemplated by this
provision cause an extension of the date of closing set forth herein nor shall Buyer
be required to take title to any real property other than the Property.
o.) Acreage Adjustment The purchase price is computed upon the Property
containing 80 net acres, In the event the Survey as called for
herein reflects a greater or esser amount than 80 net acres, the purchase price
shall be adjusted accordingly rounded to the nearest dollar. My increase or
decrease in the purchase price shall be reflected in the cash required at closing.
Net acreage shall be defined as the total acreage less existing or dedicated
roadways as of the date of mutual execution of this contract; provided, however, that
private roadways within the Property or easements, rights-or-way, streams and
minor encroachment of fences or other improvements on the Property shall not be
deducted from total acreage.
p.) Fax Transmittals. The Buyer and Seller agree that a facsimile transmittal of this
contract shall be considered as an originally executed document and shall be
binding upon the parties hereto. The Buyer and Seller further agree that the exact,
originally executed contract which was transmitted by facsimile shall be delivered to
the appropriate party via U.S. mail, messenger, or other acceptable delivery service
within seven(7)calendar days from the date of said facsimile transmittal.
q.) Calendar Days/Business Days.As used in this contract, the term "calendar days"
shall be deemed to mean each and every day of the calendar year. The term"business days"shall be deemed to mean each and every day of the calendar year,
excluding Saturdays, Sundays, And Federal or Sate holidays, In the event any date
called for herein falls on a Saturday, Sunday of Federal or sate holiday, said date
shall be extended to the next business day following such Saturday, Sunday or
Federal or State holiday.
r.) MEC. As used in this contract, the term"MEC'shall be defined as mutual execution
of this contract.
s.) This contract is expressly contingent upon the approval of the Board of Directors of
Owens Bros. Concrete Co.within 45 days of MEC.
3
a
t1 Water rights. All rights to irrigation well located In SW/4SE/4, Section 38 T3N,
R67W of the 6th P.M. including pump, casing and any appurtenant parts and
equipment as well as all necessary easements to carry water from the well to
subject property. Seller agrees to lease to buyer at market rate any ditch water that
may be additionally needed for augmentation or other related mining activities.
Further, Buyer reserves first right of refusal to purchase any ditch water located in
Section 38 that Seller decides to sell.
Buyer. Date of Signature:�r 19
Owens Bros. Concrete, Co.
Sell r: ��11
Date of Signature: r..9-do
4
Banks and Gesso, LLC
EXHIBIT O— OWNERS OF RECORD OF AFFECTED LAND (Surface Area)
AND OWNERS OF SUBSTANCE TO BE MINED
Owners of Record
The owner of record of the subject property and substance to be mined is Ralph Nix
Produce, Inc. A copy of the Deed of Trust showing ownership is contained in this
Exhibit.
Nix Property Sand and Gravel Mine.CDMG.112 Permit 20075.WD
Owens Brothers Concrete Company May 2001
29
RECORDATION REQUESTED BY:
EATON BANK
100 OAK AVENUE
EATON,CO Malt
WHEIIRECORDED.MAII.TO:. I IINII-INII-IIIIiEIIEIIIIIIH-IFIIIIIIH III IIjIfII lalli:
EATON-aAra4 258-7444 Di/07/1998'021e3F Held Cantu CO
too OAK AVENUE Let 7-IF 36,08-D-e:et a-Sakt Thukasete
EATON,CO Math
SPACE ABOVE THIS UNE IS FOR RECORDER'S USE ONLY
DEED OF TRUST
THIS DEED OF TRUST IS DATED DECEMBER 31, 1997,among RALPH NIX PRODUCE, INC.,whose address
Is 715 COLLINS,EATON,CO 80615(referred to below u "Grantor"); EATON BANK,whose address is 100
OAK AVENUE. EATON, CO 80615 (referred to below sometimes as "Lender" and sometimes as
"Beneficiary");and the Public Trustee of WELD County,Colorado(referred to below as"Trustee").
CONVEYANCE AND GRANT. For valuable conMGntlon,Grantor hereby wawa*grata,treaters end wroth to Trustee for the
bar of Lander Se Beaalay a of Grantor's rtM toe.and and In and to the Wowing dnwbed teal property,together with al exam
or eseeeany■voted or aimed bddpe,Improvements and Sdwest al easements,rights of way,and appurtenances;a water,war rights
and dlid.110th(ndudng Nock In dila war dtoh a Mgaon rights):and a other rights,row Ges,and probf ream
s re to IM real properly,
h udrg atirt Litton M'Anse,am,gat geouw slaw and w tatters,located in WELD County,State of Colorado(the
"Real Property"):
SEE ATTACHED"EXHIBIT A'
Grantor praensy assigns to Lander(too known as Beneficiary in Was Deed of Trust)at of Grads right.Bat and Interest In and to as present
and Sass leases of the Property and at Rents from the Property. In addition,Oarlor grants Ledo a Uniform ComrwWl Code sechlty Intern
In the Rents and the Personal Prolate dalned Wiwi.
DEFINfTDNS. The blowing words and have the folowfrq meanings when used In Ut Deed of Trust Tears not atomise bead In the
Deed of That shall have the meermgs attributed to such torn In the Unarm Commras Code. N aferamdee to char amounts shwa mean
amounts N lawful money of the United Sass of Anoka.
Betpclry. The word 9eneed aq mats EATON BANK b successors and assigns. EATON SANK also is referred to as Under'In this
Deed otTrue
Deed of Taal. The words Termed of Trust'mean ton Deed ot Trost among Grantor,Lender,and Trustee,and includes without Imitation a
nudgamsnt and eewy that provisions relating to the Personal Property and Remo
Gnaw. The ward'GRAY mans any and al persons and entitles executing lb S Deed of Trust,Including without Imitation RALPH NIX •
PRODUCE.INC.
GuvetW. The word"Otarantor mans and Nelda Wend Mtaion any and al guwantcrs,swabs and accommodation pubs In
corveton all the Indebtedness
mlprovements.The word Improvement'means and Include without kdbtion a eating and Uwe Improvements,buildings.structures,
math home affixed on the Reel Property.softie.,addtons,replacements and other construction on the Real Property.
lndeelebsaa .The word indebtedness'means a principal and Interest payable under the Note and any amounts expended or advanced
bof y-Lender-la
a eobW audit amounts eperned'Iaored In this Deed analro.Leder-to tlwnmeablgatoaoffxantorudwiasted-
Lender.The word Lnder mans EATON BANK Its excessive and assigns.
Note. The word'Note'mean•the note deted December at,tear,In the principal amount of 5264,000.00 from Graaa to
Lender,together with at rernwal,externem moderations,nmandngs,and substitutions for to Note. The maturity dale of Ut Deed of
Taal Is . NOTICE TO GRANTOR: me NOTE CONTAINS A VARIABLE INTEREST RATE.
Per ene Properly. The worth'Personal Property man at equipment,edwa,and other wales of persons properly now or hereafter
owned by Grantor,and now or thresher attached or&and to U.Real Property:together WEh as accessions.pub.and additions to.at
aplacemena of,and at SWseWoa for,erg of such properly:end logeter with at proceeds gnduding without 1Mtaan at insurance
proceeds and refunds Of pradumt)boo,any ale Of other dnnpcNan of the Property.
Property.The wed'Properly'mans cWact5Wy the Reel Property and the Persons Property.
Rea Property.The words Tr Property'mean the property,Interests and Rona daubed above In the"Conveyance and dent"action.
Related Documents. The words Related Documents'mean and Include without bacon at pronaway noes,cadl agreements,loan
apewnerb,enwamanW agreement,gadded,sednay epreeronta,mwcages,deeds of ist,and all other Instruments,agreements
and documents,whether now or hereafter ueang.executed In ca icial With the Indebtedness.
Rants.The word Tens'swan all present and lass era,none,income haunt royetles.promts,and other benefits derived from the
Property.
Trustee.the word Tanta'Hens the PWk Trustee of WELD County,Colorado.
TES O®OF TRUST,INCLUDING THE ASSIGNMENT OF RENTS AID TIE BECURDY INTEREST IN THE nuns AND PERSONAL
PROPERTY,IS GIVEN TO SECURE (1)PAYMENT OF Tie INDEBTEDNESS AID (2)PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
GRANTOR UNDER TIE NOTE,THE RELATED DOCUMENTS,AND n 15 DEED OF TRUST. MS DEED OF TRUST IS GIVEN AND
ACCEPTED ON THE FOLLOWING TEAMS
PAYMENT AID PERFORMANCE. Except as otherwsa provided In this Deed of TRW,Grand Mal pay to Lender a amounts secured by Ns
Dowd[Trutt as they become due.and that skkUy and N a they name perform at ef Grantor's obligations under the Note,Ns Deed of Trust,
and the Related Documents
POSSESSION AND MAINIEUNCE OF TIE PROPERTY. Grantor apes UW Grantor's possession and use of the Property stria be governed
ty.tselaowlo6paMka'-
Presaaaaad.tte. UnllM occurrence ofan.Evenotcesa,Grand-may-(a)amen in possession and aonkabtAh►Prop&Mr (b)-
use,operate or marnpe the Property,and (C)cured any Rena from to PropeM.
1111111111 111111 III 1111111111 1111111111111111
2507422 01/00/1090 02:07P Meld Canty CC
2 of 7 R 38.00 0 0.00 JA Suit Tatkaeoto
1211-1997 DEED OF TRUST Page 2
Loan No (Continued)
Duty to Maintain. Granby that radabr the Ptapady in tenantable condition and promptly perform all:Map, 'spaceman, and
melilme ce necessary to paaae lb value.
Nvraoua artmlancee. TM to n i ldasrdora waste,'Tara*substance' disposal.'M ma.'and MraleW Meese,'as wed in
this Deed a Trust stall have the same mewing"as e forth In 1a Comprehensive Environmental Response.Compensation.and Libby
Act-oLlthl as intended.42 U.S.C.Suaea.9601,Wow MERCIAN the£-Amendmwntrandfenaadalion-A M1966:Poe:
L No.99-499 CS RA'),the Ilaardous Laadaa Truapalaaon Act 40 U.S.C.Section 1601 et seq.the Resource Conservation and
Raceme/Ad,42 U.S.C.Salon a901.M sere a other actable slide a Federal laws.Mes,or regulations adopted pursuant to any of time
foregoing. The emu 'haardou wade'and'Mardaa substance sand also indude, without In daaon, petroleum and petroleum
by-produce a any tacaon thereof and asbestos. Gana represents and wants to Lender that (a)During as prod of Grantors
owmrshp of the Properly.to.has been no we,generation,manufacture.storage,treatment disposal,mama a Invaded Mass a
any Mahar was a substances by any person on,under,about a from the Property; (b)Grantor has no knowledge of,a reason to
believe thaws has been.adept as pmonsty detect to and acknowledged by Lander In writing. (I)any we,generation,nanuachae,
"lorage,aedmenl,disposal,name,*reddened release of any hen,dos waste a substance on,under,about or tom the Properly by
any prior awes a ooapuis or the Proparty a (I)any adult a esatnd MWaon or Mina a say kind by any parson relating to mush
rustlers;and (c)adopt as predate;dsdoaad to and tlroxadgsd by Lender In wiling. (1)meow Grantor nor any tenant.coMrada,
egsrl a ale,authatred user of the Property ma we,genrale,m engdaa,store,aat dapoas a,of Meese my hazardous waste a
substance on,user,about a from the Properly and R)any such edhay rat be Canada in compliance with all apprybe lederai.Male,
and local laws,rematlar are ordnance',Including without Imlalon awe laws,reguatlam,and ordnanoes described above. Grantor
authorizes Lander and lb agents to mew upon the Property to sea such baseborn and tests.at Granter's expense.as Lander may deem
anrmale to adman.compliance of the Properly with to wan of Oa Deed or Tani My trnpadlma a tats made by Lander and bs
(a Lender's pupas oily and sal not be coated to ante any respone:My a lability on to put a Lander to Grano a to any otter
person. The Mpaedaaaa and warranties amend hand are based on Grantors de,digence in Investigating the Property W
Mardaa wawa and hazardous nWanca Grata busby (a)Mesa end wolves any Mum data*gad Lender for Indus*a
contbutin In the even Crania becomes liable for cleanup a She cab under any such laws,and (b)prom to Wanly and hold
hulas Lender against any and at calmm cat abaiee,damage,,pradm,and expenses which Lender may*pay a Inanely
awWn a suffer resoling tom a brad a Ili Naas d Be,Deed of Trod a as a oorapwnce of any use,gerwation,maMaws,
stoma,deposal Measn a tiwilned name ocowtsg ploy b Crania's wanes*a Intent In as Prepay,wham a not as same
was a should have been known to Grantor. The provision of to actin of the Dad of Ta rJndudngtM oblpalon Ia IndaW*,Aiwa.
sundae the payment alga IndWledaes end the aaaaon and mconwea ce ate len of net Deed of Trud and that not be alaad by
Lender`s ac alien a any inbred in be Pronely,whew by foreclosure a otherwss.
Nuisance,Wad., Granter than not awe,conduct a pond any roan nor commit pram,craft toy shipping a a wale on a to
the Property a any portion of the Property. Wuhout Nang to generally of the Wegang.Grantor veil not remove.a tiara to any she
patty to dye to remove,any timer,minerals(Ndudng a and gash sot gravel a mck products without as prior wden caner a
Lander.
Removal at Napoweent , Crania shall not damaah a remove any Inprovemnts from the Real Properly without the prior Wan
consent of U.S. As a condton to the femoral or any wprovemenle Lane may require Grantor to make arrangements ubaday to
Lender to replace such brpraemana with Inprowna of al least equal Wm.
Landers Redd to ever. Lender and la agents and farewells may and upon the Real Properly at al reasonable tae to attend to
Medea lama and to aped to Property W purposes of Omani oMplare with the Wm and conditions of ea Deed of yawl
In Mart Compliancel governments!authoring uarmide(atan�W amply amply with M acs,adenoma,,and regulations,now a Weald
Ohba o hell war a may! called a applicable
sea use or occupancy a the Properly.Including without Salaam re,Am en:e s With
any much law,ordnance or rpalon and withhold Compliance during any prooadng,
Include;apaplale appeals,to long m Grants has nosed Lander In wring Ma to doing so and to long as,In Lender's as opinion,
lands's karma In the Properly we ad)apwdat larder may retie Grantor to post adequate security a a surely bond,reasonably
Waadayb Lander,to patted Lender's Wad
and to Protect Gan for agree nether lo abandon not leave unattended the PrapMy. Grantor aha1 do a1 day act in addition to arose
son ed forth above in this seam,which tan to character and sea of to Property ON reasonably naaaawy to prat and Prima'the
Properly.
DUE ON BALI-CONSENT SY LENDER. Lander may,at la ptia drain immediately due and payable all sums wowed by to Deed of
trust upon to sale a finer,wehut the La dele par will...ward,a stormy run ol the Reel Property,a any interest in to Mal
Property. A'Nor a taker neap to commerce of Real Properly a any mgm,tie a Inlaid Maim whither boat,hennwatl a equitable'
whither tawdry a twoWsry,whether by o*4.t nab deed,badmen ate contact,and control contraa for deed,leasehold interest Wei
•dm greater than era(3)yews, sate-opan corkact,a by sets,assignment or tabs of any beneficial lateral In a to any and cod
Mar*Ile lo the Real Incorporation.partneeship or
MOM Uebvfy company,�als or oi 4S change b ownership a more lowly-five percelm method of conveyance of Rad Property II any nt of the aawtl partnership
Indult or bated labaN company lrtrea*as the we may be,or Grantor. Hamner,this option shad not be exerdtd by iandr a etch
garden Is patella by ledrel law a by Calaado law.
TAXES MID UENS,The tole mt'proWana ram°to the des and lens a the Proper*"reaped d to Deed of Trust.
Payment Grantor shall and sewer),sew and gaupWllar leviey when due d stela a on amount 01nd In el tents prior to delnquww)y,ands,apaW when OSISMatilda,.
ue d amts,dada dons on water
grebes rendered a maard furnished to to Prawly. Grantor Mal Property.as P�pay When le,all Mang pr work dons priority overarmed W
the intend a Lender under us Deed a Tat mad for the Mn d are and assessment'not de,and excly tee of al lens ept as otherwise providad In
this Deep of Trwt
Right To Coney. Grantor may wtbdd payment a any la assessment,wean In connection with•good aeh dispute ow the
oblpaibntomyr so long ntaMd b.ssy eei4oprtyltml{Npardmd,Naiaarises orb Ned a•mwohnwpayment;Gratz
sIW within amen(1t)days after M ten him at a ten Is 144 within Man(15)days after Grantor has notice of the tang,Noua the
discharge of the Ian,a a requested by Lander,deposit Mir Lander cash a■podded corporate swell bond a other seslty salafect ry
• to Lander In amoun at surrca l to d d.arge tla Ian pas any ca an
d e,Moneys'lees charges
es other u•red a that could accrue • a
n t ,laedows or sale uncle the ten. In any corded,Grata s1s1 land ma and Lender and that satisfy any adverse Judgment before
iS "a acerernt meal the Properly. Gana Rut ante Lender as an additional obligee under any surety bond furnished in to contest
Mew*a Parma Grantor she won demand break Lender aaW4dory*Mena a payment of the ape a assessments and
thy auberae the apprprats govrawae ante,to dear to Lover M any mme•written statement of the taxes and aaaesmen%
I .. - Cometudion.mew aWnolifiLiMerM
'.
am mad*we supped b the Properly,a mahenids len, ales 1e,any work
an coed be asserted services aocounu t a the t.
t.
.4 ' 'senicee,a tables. Grab e,1 won request of Lander truth b Lander advance assurances utsaelgy to Lender that Grantor can
Lod Repay the cost of Nth improvement
PROPERTY DAMAGE INSURANCE.The Sowing provison read°to inswing the Property and a put of this Dad of Trust
:.. .. - Mintarwe of bantam'. Grant etc prase and maga polka of H Instance with standard extended coverage mamma
on a rplecemaN bate far tw is Insurable value covering at improvements on to Real Property in an amount tuNaM to awe
apeman of any coineurance mess,and we,a aaadard mortgagee Musa in lava of Lander. Grantor that alto procure and mMei
con,rshendee w Insureds
general t a.nna in Itch cowered
red w Londe na
y request with torte and Lander being named as
Mars,busies Inlemptoa and bolter Instance,a Leyay 6enta stet ndInWn such other insurance am,ag but not ISM es
and base traceably acceptable b Lander and loanedmay r a regal. aeries Mete&c when In am,de avengm
by a company a companies wtsorwply aeceplabts to Lander. Grantor,upon
• 111111111111111111III 111111111111111111III 1111111111111111111111l
till
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3 of 7 R 36.00 0 0.00 JR Suitt Tad(ameto
12-31-1997 DEED OF TRUST Page 3
Loan No (Continued)
request elp ma Mel co Lender,se verages we not ancel Lender edd a time b*rrtihedd without at the police.ticareical lust len 0)days'�r n In bin Woe to Lander.listectay to ach ins once
poky also Mid inzitstle an endomareent default at Oat � Should Mho Property at any become bated N that cavities In fare Udder W4 not la �reabd�WpuYdybyMy Director the
Fades Emage.cyMrnPmraAMencyn a.padriood'Imrtarea:Grantor sorer le obbt and'mSdeM Federal Rood Imuence for
the Pi unpaid ptrg4d balance of the loan,Leta the madmum perry Ines set under the National Rood Insurance Program,a as
olbrwse required by Under,and b tarnish,such insurance forte term of the ban.
Applikedied of Proceed& Grads shall promptly notify Lender of any loss a damage bee Properly. Lender may make proof of loss It
Groh lees to do so wean Mean(IS)days of IM asuayy. Whetter or not La der's seamy Is real me,under may,at Its election,
remise end redo the maids a any Soramce and apply the proceeds to the nducion a the Irdebteaass,Muted of any len adacing
the Propery,ale retortion and repair a the Property. Viands elects to apply IS proceeds to restoration and reps,Grantor rhea
neat a replace the damaged a destroyed Improvements In a manner utledory to Under. Lender sal,upon aatbctay prod a urn
exparib w emendates"Granea from the proceeds for the reasonable oast at repair a reaenlon M Grantor is not in default under this
Deed of True.Any proceeds which have not been dsrsed wain 180 days Net the receipt and which Wrier has not comxaled to the
repay a rrloaaon d tie Property sail be used lest to pay any amount owg to Lamer rate ei,Der a Tret.then to pay accrued
1Seett,end the remainder,M any,slid be applied to the principal balance of the I debbdmr. if Lardy holds any pomade after
payment kilted the Mdebtednr&such proceeds shag be paid to Grantor as Grantor's Morose may mpper.
Unranked Insurance al gale. My unexpired bauance shall tore to the bens*at,and par to.the purchaser of the Property owned by
this Deed Tout of Tr at any Ina s%I s'e sale or othersale ass under the pmw'aore a this Deed of Trust,or at any foreclosure sale of etch
Property.
Gridoes each Report
a showing: (a)the m Insurenst. Upon request of une Lancet
U*hiawrer; (0)the risks cwever not more than rammer(c) ammo N aN the rrp policy;Lends■opal ry
trrsd,ee inn&lewd&Placement was a such property,and Ihe manner a daWmWnp the value:all (a) s katoon date property
• Grantor slid,pon repent of)andr,have an Independent appraiser eeifclay to Lender didar ins the cash war replacement
• Properly.
E CPODITURES DV LENDER. 'Grants NM to comply with any provision or this Deed at Trust a M any attar or prooeadna Is commenced
IM would raerWy elect LendyY Interests In the Progeny.Lander on Dreads behalf may,but aid not be asked t&Isis any salon that
Lender deems Incurred a pad by b the dale My amount repayment Len by expends„M au sa ucch engxpenses,sees,a Undoe bear kairegt s oopptio�n. prodded w1Mwllee on�ammar.the
added to the Salvo al the Nolo and be apportioned among and be payable with any instalment payments to became due during either (I)the
term a cry amicable Wrap potter (G the rernelnlq cram of the Note,a (C)W Mated es a below payment which will be due and
payable al the Nobti marry. This Deed or Trust also we swum payment of tree amounts. The rights palled exalt*"paragraph shall be
In Melon to any Other dpi a two remedies lo which Lander may be reed on amount GUM default Any such eabn by Lender Mal not be
construed raging the moue ee es to bur Lends from any remedy that I Mends*would have had.
WARRANTY)DERINIIECIFITILE T e felpeng provident reading to ownership of W Properly area put of this Deed of Trust.
..TIM..Grano wra is let (a)Grata lads pool and nwketeble Ile of ward to the Property la Ins rends,free and dear a e lent,..
and enounCra cee crew than those W tom in the Real Property desapion a M any lee Wrap perry,a is report,a Intl*opinion./,•
tried in f av of end accepted by,Lander In comMbn with this Deed of Trust,and (b)Grader has the Id dad,power,and autary b�
mina ell dither as Deed of Trust e,Lender.
Delaw ofTele. Subbed to the.span In the paragraph above,Grantor wends and we an Mind tin INN to the Properly aoeta
the Yoga dare ofd persons In the event any actin a proceeding b commenced that questions Grantors dearth,Memrt a Trustee
or Under wider to Deaf of Trust,Grantor rid defend the actin at Wads)'settee. Wads may be the noblest party In such
prweadng,but Lander she be ended to prt elpale in the proceeding and to be represented In the proceeding by pear d Land.,
awn chats,end Grads we delver,a cause an to be dewed,lo Lender such Instruments as rr La may request Y am line to lime to pane
wit de
Coeplro Web Lan& Grantor waranb that the Property and Grantors use of the Property complies pale el.rang applicable laws,
admirer,and regulations at gwwahwts abased*.
CONOEMNATOM.The Sowing proWbru relating to condemnation proceedings are a pr ands Deed al Trust.
Appals.=of Net Proceed& M N army put of the Property Is condemned by eminent domain proceedings a by any proceeding a
punter M Peu of condarwtion.Leer may al IS Orlon repine Intl d a any proton of the net proceeds of the award be espied to
the Yrdsblednnees a the repair at restoration of the Property. The net proceeds a the award she own the award enr payment of al
reeeawle cab,spear,and attorneys'has Incwred by Trustee a Ladr In connection with the condemnation.
Proceedings. Many proceeding In condensalon S Ned,Grantor she promptly noisy Lender in wring,and Grants shall promply take
such slept as maybe necessary b defend the action and obtain the award. Wants may be the nominal parry M such proceeding,but
Lender atlas be creed b participate In the proceeding and to be represented M the proceeding by come of is own choice,and Grantor
we deliver a pale to be drum*b Lade such Mabumenb a may be requested by torn one to time to perms all psrlklpalbn.
IMPOSITION OF TRIES,FEES AND CIIARGES BY GOVERNMENTAL AUTHORITIES.The knowing proNWr reeling to governments]team,
bee end Merges are a part of this Deed of Trust
Cared Tres,Fen Mid Charge. Upon request by Lander,Grantor shall execute such ddxtnena M addicts to this Deed of Trust and
take whew crew action Is requested by Under to perfect end continue Linden ern on the Real Property. Grantor slid retreats"
Lander Lr al do m,as daubed below,together with d eper es Mar*In mooning.prating a canning tie Deed a Thal.
MCWIng wiled Merlon el taxes,lees,documentary daps,and other charges la rmrdng a registering this Deed alTndl
Tamm&The Wowing shall constitute taxes to which this section apples: (e)a epecee tax pan titt bpi of Deed re Trust a upon d a any
pat a the Ydrleawe seated by this Deed of Trust, (b)a specific It,on Grantor with Grantor is au hated a required to deduct from
a w ape the
Note;Indebtedness aria eebayltioiax hoe
a D�a Trust (C)a ax an tis type a Deed of Trust awgeable Wald W Lender 'R
al any!omen d W Indebtedness a on payments of principal and Interest made by ,R
tWipsaTees,V any tax to which this sedom apples In enacted subsequent the dale of this Deed of Trust Mb event she have the -:
sled aMHeld d Dad defined below),and Lender may exercise any a d of its amiable antes tor an Event of Dope as
belaw Weis Weir gene(a)pays the tax beam a becomes dWpwt,a(b)cartels the lax as provided above In the Ter
all vemWdrnash a a suede*corporate surety bond a other scanty saaeeclay to lardy. ":'it..•`�_
AdIG101 AIAMCWO EMENT R Wo
wing owing pmwblen relating kichi Deed of Trust as a secagreementyagreement area pr
rr�t`lC`
Nam*Aereesra. This Wilmot shut corollate a smutty agreement to tie ardent any of the '^
prpry.end Lender aid have al of the rights a a securedPcial Code
as emenIed feting
•
� � , panty under the Wham Commercial Coe r emended tom Wm to
Seaway faking& Upon request by Lender.Grantor she execute iandng statements and take whatever other action Is requested by Lender le pried all aorta Undies security Maid In the Rents and Personal Prpry. In addNn to recording Ili Deed ot Trust in „ • x-,
tie mm l property moods,Under may,at any time end without NNW autcrtation tom Grantor,W mead counterpane,=pima
reproduction of this Deed of Trust u a Madng deems* Grantor aid mine Lander for a enema Inclined in prtecltg a "'+ C
cawing this eeolaly breet Upon deeul.Grantor shall assemble the Personal Property ins manner and at a plan reasonably /�$`x'.•vx,,
camisole*la Gives and tender and mike ti ridable to Lender w th
ree ee(3)days alter maid al mean demand tam Under. „• yv
Addreeer. The memo addresses of Grants(debtor)and Lander(.soured party),from whim information concerning the security tired vn. :;
granted by to Deed of Toutmay be obtained(each as required by the CommercialUniforCommercialCode),areas stated on the list paid al this' e,r
IIIIMIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII1
4of71 08008.00 RSuklTa County
.
1241-1997 DEED OF TRUST
Loan No
(Continued) Page4
- -
Deed dined.PUND d In ASSLMANCEN ATTORNEY -FACE. The allowing MPMbnt Mating to lather ash Y and akpn.yandwn t. a pi a M n b and made,mauled or delind,Further Meweeces.At any Lender r«to Landfl OMpnN time to tam upon�ind wan of Lender,Grantquested or MI Lender,mJr,cause and OJw, our d,br - ..
mortgages,rerecd,m the case fleece n may be,at such anw and la etch otaas and War es Lender mama deem cause ai,pp�a recorded,railed,or
h
deeds
ofes.true,
�deeds, security apernenb, Wacky ayynanb, oaabaion statements, yMyy w al ha ,
a assumes cefli catrendue. oor documents as may.In n sole opinion a Lendr,be necessary or desirable b rdr to*bawls.
(b)the sera and ararYy Sreats maderve (a)theV Deed of nMd of as iii andor under s Noe,YYs aTra,,and the fowled meted
r ha'a er
acquired by Grader. Unless prohibited by law« prior Gene on the Properly,whether now Lwed«tMrasts
and sperms Nand a connection with n mates reined b b tia�pr gra�a wilting,Griot ail reimburse truer!der all male
Grantor and at Grants expense.Allanwffiall-Fw1. II eat**lab.Far such pvl urrposees,Gra UFO ntor Wherithe pr nq aph,Lahr may do w for and b the name a
DMpor d make,eaculYg,deWrW,leg,recording,and doing al�eta Ws may Lender ere s Crude's irabnari�Med M and
opinion,to accomplish n matters referred b In the paadna Dregaph. things as be meceeeerY or daeaby,In Landon coy
qS1 PERFORMANCE.Trustee may,. ,on production of the Note duly cancelled,release this Deed of That,and aueh rare shra constitute a
rear of the Yee br a NSA Wu o��and expenalume made pursuant to this Deed a Tns. Lender agrees to cooperate with Grantor In
Wiring ea Mew and Malangpaneled bympphabe low. seaming Indebtedness. A'y'release fees retied by law Mel be pleb by Grantor,II
DEFALT T. m ac ate Mowing,at AY option of a constituteevent a s a an deal(Eve Dawn under Nis Deed a That k$ebateae,Faun of Grantor to make any payment when due on the indebtedness.
M'JOY'e other rhewsay to prevent ring o on Other Payment Fran al Grantor f nib ececlWe lime required f Deed a bur to make any payment for few or khhatereM,
Compliance Defeat Failure a Grantor todischarge a any pen.
Nolo or In any d n Reed Documents
comply with any sea suet o6WJrt eminent or condition amJMe N this Deed of That,the
Feta Steemenes. Any wanerhy,repyetJal or.anent made or furnished to Lana by«on MI MI at Grantor under tlb Deed of
Tad,Vie Nit or the Related Documents a lase or mbWdng b any malarial respect,either now or al the gnu made or furnished.
any colon! baeTyaThis Deed Tr or and a the Reed Doumenb ceases a be b N lame arid elect
andperfected saranMerestran)al any pia and for any reasoinsolvency. The cendullon orn.
(Including few.a
aryl panypert o any Grantrs M er y.aany assignment tor tlnebane* rea any t going Names.ype a creditor redo workousolvency of t,
the commencement
nrtl a a
bankruptcy or Insolvency laws by or against Grantor.FontoNeure, worsonml,« ammwmeew a orfeiture,etc. Commencement of rpoeaeabn o and pew method.by• reatr a Grantorb or by any whether by ladder cy against any of the Property.
sell-help,,Ut
of beater. bnnw.tmceedkq,prodded Isameolon shall nol apply In the ewe id•good MN nd to by Grantor as to the validity d the lawhich yIs hear s
"� sway bond for the dakm aaWadoy y Lender. gives Lender wi4en notice of such calm and furnishes marvel r a
Urach MilanOther any gracey preach byhGsi�rr�the ems or any Met agr.emrd between Grantor and Lander tai a not
obigeion a Grantor blander,a hWw n,Including without Ym4tlort any*pawned concerning and Indebtedness or other
_ ramp new Or Ides
r /F Eyre A lee ng b unlAOMI. Any d Vie prating mend occurs with respect to any Guarantor d any a the Indebtedness or any
icorpe4n or revokes or disputes the baldly Of,or WNW under,any Guaranty of n Indebtedness
Nara Change. A material adverse change Doan a Grantor's bane condition,or Lander believes the prosper d etyma r
per ormance of the Indebtedness te Impaired
Inrorty.Lahr In wood lath has masonea cause to beaks Y b Mauro or tat lb caalry Is awaked
RIGHTS AND REat®IES ON DEFAULT. Upon the occurrence of any Event of DMA and al any Yore thereatrs Trustee or Lander,at Its
opaon,may rams.any one or more a the Mowing rights and remedies,In addition lo any other rights or remedies proratedby law.
Accelerate Indebtedness shall have Lender shall IM right at Its option without notice to Grantor to declare the snake indebtednessaeedaely ...
due and payable.Including any prepayment penalty Mach Grantor would mated be rred b pay.Fore:lone. Lander
...
againstesY Y Y were ahed hen n ripia to cause all or any part rained Property,and Persona Property,I Lender decides to proceed
property,to be sold by the Truths arvdnab the laws or the Say of Colorado es respects wedosuree
mad property. The Trustee shag give notice b accordance with the law of Colorado. The Trustee that apply the proceeds d M sale N the
blowing ear:
al(coma float coat by Deed dT end expenses of biµ e le,k tie but notated to Trustee's lees.ate were.yes.and she cost d Me ..
NCO rice;Remedies. pith_ (c) axons.I ambito person or persons&gay entitled b the excess.
alder the Uniform Committal Code.or any add a n Pam**Pereira Lender shall to lffi they.J n an and repydee a a armrec pry
Collar Reda.Lehr Mal haw the right wbhra noose to Grantor,bake possession of and manage the Property and collect the
Including amerces pag dot and unpaid and apply the net cab,todat the kMebMoa Rent
as in
haherance a tea right Lender may ogle any tad or other
ci a proceeds, and above l payment,
t the Rena era oay&d by Lander,then Grantor Property ee to site pen%dole and or um fees d rse b Lender.
received In payment awes b the name a Grantor and b�W desi same gnates and c o GrWoh ads. Payments
toby endorse instruments
to Lender a response a Lenders demand era satisfy is obligations
bew wwild,the�e b•pawls winder tenants or other users
w the demand misled. Lander may either
N pews
are made, el IM r not ray eee• tFohrhdt
Appoint Receiver. Lander shell have right*,rights
receiver appointed lot Take b persol by;Odor
n tlpen a a rcaw.
poem b protect and presrveshePmpey,to operate the Pas possession sale e d orceeDN ache popery. rop soy
and apply the proceeds.over and above the cost or the Properly preceding foreclosure In ee e nee and b aYad m Rot from the Rowdy
prmiad by law. Landerright ton �shai against the admer,eaa are tearer may nerve rte era brat
by amant�Esnplownrad by L shall notnot east whether p not the apparent vow a the Properly may be
Indebtedness by mMW W OrGaru a tie,n ken appointed Dec•awi of oonpewa FHemrh pa ex WY apaaebr,and without note,racebeing
saving as a receiver.�Receiver be
d.
Tenancy et Sultana. If Grantor remains In possession a ny bas sold as prodded a abowaivve
or
Lender otherwise
becomes waled b possession a the Property Won dal d Grantor,aGr�shay become Snanrlatt sufferance ofLander •
or the
purchaser of the Property&aheaeyyupon the demand and snot.et tenders Lann Lander.
Jhr (a)pay a reasoner,rental for the use a the Properly,or (b)state the
Other Rasadlas Trustee or Lender shallows and other right or remedy podded N as Deed of Twat or the Not,or by law.
^ �M theP the M. In marching Na rants and remedies Lander shall be has to designate on or before it ales a notice of action and
she d MN Treo at. that de Dian see J or any pad of the Properly together a sepraWy,b one SS or by separate WAS. Lander
•
a sale granted b Ile Deed a Trusny public t or onala any
portion a n Property. Upon any sale of n RmDrN,whether made under•power
*Milled b ac apply air,or and portion pursuant the Indebtedness *the holder of the Nit is a purchaser at such sate,it shat be
e the Property and apply a and.&such cyst,the OydadrMr w or b sedemerq or payment d J.r and portion a,the purchase prise rust the Nola,and any document astdendng erpenda.y unwed by tics
P
I I I I I I 11111111111111111111111111111111111111111111111 •
•
20!7122 01/06/1000 0234311 Meld County CO
6 of 7 R 06.00 D 0.00 JA Sdtt Aukuete
12-31-7997 DEED OF TRUST PG91 5
Loan No (Continued)
Deed of Truer del be presented b to person concluding the We in order that to amount or Indebtedness so toed or applied nay be
ceded thereon as having been pad.
Wave;Eeaton of Reeedlee. A waive by any pent of a Own ore amnion or the Deed of Trust Mal not construe a wader of a •
prejudge IN Waft rob othrrne to demand abkt complene wish that prnnbn a any other protean. Beam by Lander to pursue
any remedy podded In Sae Deed of Trust,M Nat In any Related Document,a provided by law shag not exclude pursuit of any otwr remedy,and an eeclon to make eipetlhns a to take salon to perform an obpation or Grantor under this Deed or That after Wee of Grantor to wean sIW not arm Lesion rigid lo deaars a WWI and to ewrase any W d remedies.Attorneysst be non su
chew . V ndS Lender keue meal may delude rea or Faltutes sonable a the man a salon to enlace any of s of Ws Deed Twit,Lander
octet action r Invoked,as reasonable epasses bland by Lender whIcb hi canton an and ss ran yY at anyli WIaPen pr law any
a b rind a to eraoroame,can rights anal Deana a pat or Pe indebtedrwesnecessary any lime for ea t e.Note
rate from the date a apeMkee as repaid. Eapensd coved by this payable on demand and Mal bear Interest a Iv Note
under appacebls law,Lo der%attorneys'lees wtatr a nor Owe Y a�lawaW, de.goad Whatley however added b any tinge
�uadng soat to madly a vends any auto alb key a Haiolon),appeals and araiapaucing W 000-ludpwa SWAon Uys'Nes for benlinsacy ntie.Ma
the Tmate b g records,
obtain We repr ndw o(inducing run reports),surveyors'reports. t reports.appraisal 4 s Flaunting.and tees for
prdPd by applicable law. Grantor also we pay any oast code,In addition to aS lbw wins prodded by law.
Rights of Trustee.Trustee alai haw all rd the dolts and dales or Lender as sal kum in the section
POWERS AND 09JGATIONS OF TRUSTEE The IolovMg pro trlaw relating to to powers and obawtou or Trudge are pen of this Deed of Trial.
Powea of Trustee.In addian to at power of Trustee Wag a a mailer of law,Trustee shall have the power to take thee
actions
with raped to to Property upon the written request of Lender and Grantor:: (a)loin b proposing and a map a plod at theha Property,tearing tlr dedeaiw of nests a star non to to pubic: 04 Pio in Wanton any moment a ageing eel reefktlon en the
�Properly;and (a)Job b any rtorW older agreement or ol agreement alhcing this Deed of Tent aS@ interest of Lander wider Mr Coed of
Obligations b Notify.Trudge ad not be obligated to notify any War pay of a pendng eke under any other trust deed or den,a or any
anion a prooddmg In which Grand.Lender,or Trustee that be a pry,unless the aaon a mending Is brought by Triage.
Truse. Truce dal most at oralcelonn noted la Tastes alder applicable law. In addition to the right and shades Set forth
above,with respect b d a any pet a to Property.to Trued shall have the right to Wachs by note and We,and Lender der have Pa right to foreclose by judicial Ioredwure In Ober case In aaadarce at,and to the N extent provided by eppicable law.
NOTICES TO GRANTOR AND OTHER PARTIES. My note um*Nat Deed or Teat slid be in writing,nay be gent by WsWabde(unless
Wends'aso*sd by law),and sties be dedys when adualy delvered,a when depated lab a nation*noognaged overnight coat,a,V
mated.as be deemed ache whin deposited hi the Untied Stales real hit dam rambled a registered mat postage papal*dreaded b the
formal tees sham b the wir a
near the beginning Ws Deed of Trot My party nay range Its address under this nodes under Deed a Trust by giving
parses.twdlring Mat the papora at to nab r b change the padys messed AS copies of violas of .
fasdoewe Yam the holder of any lea which hi priority ma this Deed of Tent MW be sent to Lendr%address,as Grown near Pa beginning
a Ut Deed of Trust. Pa note purposes,Grantor apses to keep tender and Trudge Maned M a lanes at Grantor's anode adder.
ECH SIT A.An seat tiled EM MY r attaches b gas Dad a Trul and by the raven r made a pen a the Deed a Trust Jose d P a Pa provisions,Irma and mndlaa at the Mel had been key sal lath In Pts Dad of Dud.
MISCELLANEOUS PROVISIONS.The Wowing ntsoaereoa providers are a pd of Pas Deed of Trust
Ante ndmrPa This Deed of Rat together with and Related Documents.coresbia Pa erd's understandng and governed of Pe parties
as to Pe m etwa as bath in Ws Deed of Tort No ideation dot amendment to pas Deed or Trust shat be aside wises given hi wdrg
and signed byguwdya p.' .peleasoughtto.bachergeLoctoundby.theallerallonaanadmsM.
Annum Report. lithe Property is teed la papaw other than G anlas redden.Grantor shall brash to Lender.Won reprst,a
cogged statement of na1 owning Aston received from the Property during Graaoh oration aced year in sash form and data as
Lander
lid rq e.Mopdy Net
operating ha W a income M mean rash receipts from 1M Properly a less cash expenditure d made connection
with
AppScabe Lew. The Deed of Trust has bean delivered to larder and accepted by Lender In the State of Colorado. This Deed of
Trust admit be governed by and rosebud In accordance with the Ions of the Sale of Colorado.
Caption endings. Caplan heeding.In the Dad of Trust we for convenience purposes onlyand are nab be used to In
Pe provision'of this Dad a Trust. Interpret a dew ..
Nagy. There shag be no wager of Pa Inland a estate aced by this Deed of Trust wIth any other lyderea a estate In Ya Property at any lime 1Wd Wake IM bred of Lander In any apeaty,without the wean consent at Lender.
Multiple Pullet Caporals Autltrity. AA cbagatoae of Grantor under Pis Dead or Trust shell be WM and severe,and at ramrod to
Grantor Deed as shod
aLMan a ewy gem. This mans Pat Gaon of Pa person swine below a responsible fora obpddaa r this
Sevembety. It e nowt of conplWd lardrlon lads any provision or Ws Deed of Trust to be Invalid a unenforceable a to any person or
daamnsrna,such IdPg slid not render that ProWaon Wad or unenforceable as to any other persona a acunatanose. P head*any
such olendkg provision and be deemed to be mailed b be wain to amt or informally a wildly;however.l the oSendng
provision of be so moiled,Mahal be Warm ad a other;makes dins Deed a Trial hi a other respects del remain wad and
baring Y and.bYSbeaaNa the Subject to the lirniellons stated Ineir Ut Deed carnal on trawler of Grantors Iona&lids Deed a Trust shall be
In•pawn
othw Yen Grantor,Lander,wafted mad to may deal lwwith Gra and a� usuawmis with reference owneara al the to ttt Deed becomes at Ta t and Pa
IndebtednesIndebtedness by way a forbeaaane a aereion without releasing Grantor Fern the obligations or Ude Deed or Trutt a NagyNagyceder the
Thos lea the Essence.The Is at the essence In to performance or this Deed of Trust
Wavers ad ConeNs.Ceder end not be deemed b haw walla any right under this Deed or Trust(a under Pa Reeled Documents
mom such wear ie In wren and signed by Lender. No delay a onrb on g aal of pen Lander Ina r rising y right shag operate a a waiver or such fight m any other rigid. A waiver by any party of a proNnw of this Deed or That shad not constitute a*Mon eta praptln the party's dolt otarwee to demand skit complains with that protean a any otlw provision No odor water by Lender,ate Orly can •
of Wang between Lander and Greece,sties construe a waiver of any or Landers rghts a any of Grantor obligation as to
any future
Yreadrna. Whenever cawed by Lander r required In Mb Deed of Tina,to printing or such consent by Lander In any Wince sad
not caeisme continuing g consent to subsequent Instances where such consent is required.
Waiver of Itoeseatead E co ptom. Grantor hereby releases and waives a rights and benefits Of to homestead exemption laws of me
Sete of Colorado as to se indebtedness seared by gal Deed or Trust.
11111 1111 III 11111111 II 11111111 HI111111111 ME
2667422 01/06/1996 02:83P Meld County CO
6 of 7 R 36.00 8 0.00 a sJcl Tadtuete
12-31-1997 DEED OF TRUST Page 6
Loan NO (Continued)
EACH Canaan ACKNOWLEDGES MAVINU READ ALL WE PROVISIONS OF THIS DEED OF TRUST,AND EACH GRANTOR AGREES TO
ITS TERMS.
CMMTO
RALPH WISP IN
àST.,.
an
ETTA L MDL ART
CORPORATE ACKNOWLEDGMENT
STATE OF Cain
COUNTY OF yam..
On aes A/�1 aid oi /(�r/���-I'o�+�(t/ln 19E4.7 beforeb. me,P.unclothed Wahl FM*,p.non.YY Witt RALPH C.
ROL PAESIDDIT "�"' W.NIX,VICE PRESIDER:VW TTA AL M%SECRETARY of RALPH NIX PRODUCE"WC..and u to me b b.
uo adrisd ..�i/` caporaaan that snouted our Deed of Treat end aamowtedped Si.Deed of Tn4 to be the He and witty ad and
deed a _ .., authority of use B$swe or by resosAon of a baud of&ecta e.br Me uses and pupas arnfn mentioned,and on
oath forbad to stile lids Deed of Trust and b teat eesaMd our Deed
lal Irma Ir on baud of Dr corporation.•"� . . .�' / sf6n�/� Residing at eters, a
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EXHIBIT A
LEGAL DESCRIPTION
The E1/2 and the S1/2 of the SW1/4 of Section 28, Township 3 North, Range
67 West of the 6th P.M. , County of Weld, State of Colorado,
EXCEPTING THEREFROM a parcel of land conveyed to The Department of
Highways, State of Colorado by deed recorded December 5, 1957 in Book
1491 at Page 158, more particularly described as follows:
The N1/2 of the NE1/4 of Section 28, Township 3 North, Range 67 West of
the 6th P.M. in County of Weld, State of Colorado, said tract or parcel
being more particularly described as follows:
Beginning at a point on the East line of Section 28, Township 3 North,
Range 67 West, from which point the Northeast corner of Section 28 bears
North 0 degrees 32 minutes West, a distance of 90.0 feet;
1. thence along the East line of Section 28, North 0 degrees 32 minutes
West, a distance of 90.0 feet to the Northeast corner of Section 28;
2. thence along the North line of Section 28, North 89 degrees 49 West,
a distance of 2,590.0 feet to the Northwest corner of the NE1/4 of
Section 28;
3. thence along the West line of the NE1/4 of Section 28, 'South 0
degrees 24 minutes East, a distance of 40.0 feet;
4. thence South 89 degrees 49 minutes East, a distance of 2,512.1 feet;
5. thence South 45 degrees 10 minutes 30 seconds East, a distance of
71.2 feet to a point on the existing West County Road right of way;
6. thence South 89 degrees 49 minutes East, a distance of 28.0 feet,
more or less, to the point of beginning.
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2587422 01/05/1998 02:03P Bald County um
7 of 7 R 36.00 0 0.00 JR Sukl Tsukamoto
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