HomeMy WebLinkAbout20043238.tiff r". res
BANK ONE,COLORADO,NA -_ 4 %/55 /J f — ! 7
2896 SOUTH COLORADO BLVD. M/ 58 5-
DENVER.CO 80222
!1 Bank One,Colorado
1123 17th Street/4th Floor
• -# ' PO Box 5586 TA
Denver CO 80217-5586
Ann:Sandy Marone
2558047 B-1616 P-2fj2 07/15/1997 10:52A PG 1 OF 5 REC DOC
-Tr Weld County CO JA Suki Tsukaaoto Clerk & Recorder 26.00
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE OM
ant
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IVK 444
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,t D,EDED OF TRUST
,
LO
1997, among APPLIED FILMS D
CORPORATION, whose addrette VII CHESTER CIRCLE, BOULDER, CO CORPORATION,803011 (referredt Dbelow below
"Grantor"); BANK ONE, coLbpAJ9 nA, whose address Is 2696 SOUTH COLORADO BLVD., DENVER, C
• 80222 (referred to below somej6ifbs as "Lender" and sometimes as "Beneficiary"); and the Public Trustee r
WELD County, Colorado Deleted to below as "Trustee").
•
CONVEYANCE AND GRANT. For valuable consideration,Grantor hereby Irrevocably grants,transfers and assigns to Trustee for the benefit
Lender as Beneficiary all of Grantor's right,title,and interest in and to the following described real properly,together with all(meting or subsequen
erected or affixed buildings. improvements and Mures;all easements,rights of way,and appurtenances;all water,water rights and ditch riot
(including stock In utilities-with ditch or Irrigation right;);and at other'this.royalties,and profits relating to the real property,Including without Marilee
al minerals.oil,gas,geothermal and similar matters,located In WELD County,State of Colorado(the Real Property"):
LOT A OF RECORDED EXEMPTION NO. 1313-14-2-RE1009.RECORDED MAY 14, 1987 IN BOOK 1156 A
RECEPTION NO.2099770 BEING A PART OF THE NORTHWEST QUARTER OF SECTION 14,TOWNSHIP
NORTH,RANGE 68 WEST,COUNTY OF WELD,STATE OF COLORADO
The Real Property or Its address is commonly known as 9536 EAST I-25 FRONTAGE ROAD, LONGMONT, C
80504.
Grantor presenly assigns to Lender(also known as Beneficiary le this Deed of Trust)al of Grantor's right,I0a,and Interest In and to all present ar
future leases of the Property and el Rents from the Property. In addition,Grantor grants Lander a Uniform Commercial Code security interest in It
Rents and the Personal Property defined below.
DEFINITIONS. The following words shag have the folowing meanings when used in this Deed of Trust. Terms not otherwise defined le ties Deed
Trust that have the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in level
money of IIr United States of America.
• Beneficiary. The word"Beneficiary'means BANK ONE,COLORADO,NA.its successors and assigns. BANK ONE,COLORADO.NA also
• referred to as lender•In the Deed of Trust
Deed of Trust. The wards'Deed of Trust'mean this Deed of Trust among Grantor,Lender,and Trustee,and includes without imitation I
assignment and security Interest provisions relating to the Personal Property and Rents.
• Grantor. The word'Grantor means any and al persons and entities executing this Deed of Trust.including without Imitation APPLIED FILM
CORPORATION,A COLORADO CORPORATOR.
Guarantor. The word 'Guarantor means and includes without Mmaafion any and al guarantors, sureties, and accommodation parties
connection with the indebtedness.
Improvements. The word Improvements'means and includes without Imitation a1 existing and future improvements, buildings,structure
mobile homes affixed on the Real Property,facilities additions,replacement and other construction on the Real Properly.
Indebtedness. The word Indebtedness'means all principal and interest payable under the Note and any amounts expended or advanced
Lender to discharge obbgatlons of Grantor or expenses incurred by Trustee or Lander to enforce obigatlons of Grantor under this Deed of Trus
together with interest on such amounts as provided in this Deed of Trial In addition to the Note.the word"Indebtedness"Includes el obligation
debts and Viabilities,piss interest thereon,of Grantor to Lender,or any one or more of them,as well as all claims by Lender against Grantor,or ar
one or more of them,whether now existing or hereafter arising,whether related or unrelated to the purpose of the Note,whether voluntary
otherwise,whether due or not due,absolute or contingent,ipuidated or unlputdeted and whether Grantor may be liable individually or jointly wit
others,whether obigated as guarantor or otherwise,and whether recovery upon such indebtedness may be or hereafter may become barred 0
any statute of limitations,end whether such Indebtedness may be or hereafter may become otherwise unenforceable.
Lender.The word'Lander means BANK ONE.COLORADO,NA its successors and assigns.
Note. The word`Note"means the Note dated June 27,1117,In the principal amount of $371,250.00 from Grantor to Londe
together with a/renewals.extensions.modifications,(efrasdngs,and substitutions for the Note. The maturity dale of this Deed of Trust is Jun
27,21102.
Personal Property. The words Personal Property'mean al equipment,titres.and other articles of personal property now or hereafter owne
by Grantor,and now or hareem attached or affixed to the Real Property;together with al accessions,parts,and additions to,all replacements o
and all substitutions for,any of such property;and together with all proceeds(Including without imitation al insurance proceeds and refunds
premiums)from any sale or other disposition of the Property.
Property. The word Property means collectively the Real Properly end the Personal Property.
Reel Property. The wads Ilea Property mean the property.Interests and rights described above In the'Conveyance and Grant section.
• Related Documents. The words 'Related Documents' mean end Include without Imitation at promissory notes, credit agreements, toe
agreements,environmental agreements,guaranties.security agreements,mortgages,deeds of bust,and all other instruments,agreements an
documents,whether now or hereafter existing,executed in connection with the Indebtedness.
Rents. The word"Rents'means al present and future rants,revenues.Income,issues,royalties,profits,and other bangle derived from th
Properly.
Trustee. The word'Trustee"means the Public Trustee of WELD County,Colorado.
THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
PROPERTY,IS GIVEN TO SECURE (t)PAYMENT OF THE INDEBTEDNESS AND (2)PERFORMANCE OF ANY AND ALL OBLIGATIONS Cl
GRANTOR LARDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTEI
ON THE FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust.Grantor shag pay to Lender all amounts secured by bas-Deed c
TrRelated t 0 become due,and shall strictly and in a timely manner perform al of Gran Dead
Grantors obligations under the Note,this Dd of Trust,and ihi
2004-3238
POSSESSION AND MAINTENANCE OF.THE PROPERTY. Grantor agrees that Grantors possession and use of the Properly shall be governed by Ito
• folowinp mansions: /9
Possession and Use. Until the occurrence of an Event of Default,or until Lender exercises its right to collect Rents as provided hr in
Assignment of Rents form executed by Grantor in connection with the Property,Grantor may (a)remain in possession and control of the Props
(b)use,operate or manage the Properly,and (c)colect any Rants from the Properly.
• Duty to Maintain. Grantor shall maintain the Properly in tenantable condition and promptly perform all repairs,replacements,end maintena,
necessary to preserve its value.
Hazardous Substances The terms'hazardous waste,''hazardous substance,' disposal;'release;and'threatened release;as used in
Deed of Trust,shall have the same meanings as set forth In the Comprehensive Environmental RaspWee,Compensation,and Liability Ac
1980,as amended.42 U.S.C.Section 9801,at seq.rCERCtA1,the Supedund Amendments and Reauthorization Act of 1986,Pub.L No.99—
('SARA',the Hazardous Materials Transportation Act,49 U.S.C.Section 1801,el seq.,the Resource Conservation and U.:
Section 6901,et seq., or other applicable state or Federal laws,rules, or regulations adopted pursuant to any of the foregoing.g.@ Ue,
'hazardous waste'and'hazardous substance'shit include,without imitation. o The la
'harridan petroleum and petroleum by-products Pr p or any fraction them
and asbestos. Grantor ure represents and warrants to spode,that a)During the period of Grantor's ownership of the Properly, erg has been
n
ane.d generation,manufacture,P storage,l (b)treatment,r disposal,release or threatened release a hazardous waste or substance by previously
discloser close
and a novelbout d ed the nder In (I)an has err knowledgee a uf cture, to a ter that thnt. d tip s a. e ase of th e to ed ,
and rdouswlast acknowledged by bLendernc in writing, any teals from the oPr tie ty by any n, priorstorage,treatment.c'upan release,or erly or (M angrelease d
Neatened waste or substance on,under,ind about or Property by prior owners pt occupants of s Properly or c)any actual
threatened , ) claims f any kind by any person relating to such other and th (zeExcept f previously disclosed and te,acknowledged
manna
sane. in writing. (()firer Grantor eanynor any tenant us o contractor,agent or other about user the Propertyyy shall I)use,yauch a tray shall
stord,treat dispose mp of.en oa release cazrdeds waste e, nd substance on,under, tons or from the es, nnly and (g)any such i o those hI' le
conducted In compliance with all applicable federal,slate,and local taws its agents
and t r'upon Including rop make
such ins. 4
regulations,at Grantor's
and ordinances described above. Grantor
ppr auiate to Lander and its agents to enter upon the this seey to make such Deed
of Trust.
I
inspe ti ns or tests made
ender may be
appre's u to determine onli a d shall
the Property e to withany
s of the liability Truro /
a of n lto made by oeany he8 be for L There purposes r ns a and aria not be conatr createrea e ra Ga for a dep on
part e of Lender Grantor or to any other ante and The representations and warranties s contained herein an and a on Grantors future
due impend
investigating for the Property or for hazardous whe e hazardous mstalsubstances. Groner hereby releases r waives s any,uare claims agal
Lender for indemnity contribution In the event Grantor somes sobs for lama or other under any such taws,and (b)agrees
indemnify and hair harmless Lender ogansl any and all claims,do losses,theliabilities,eeot rust or a se and fexpenses ywhich generation,nender may dkectly
entree, iss osa or lease threat nem a breach c Iles section d the Deno n rshi a as a corn the Pr er any use,r same
storage,disposal,,release tot threatened Treleasehe
provisions
oil prior section of the Deed ownership or es In the Properly,whether or not the same was
should have been known toe s anent. The sf tiva of this Deed of of Trust,inc the obligation nd to not be affected
shall survive
payment of the interest
and the ,satisfactionwher and reconveyance of the ben this Deed of Trust and shall be effxled by Land
acquisition of any Interest in the Property,whether by foreclosure or otherwise.
Nuisance,Waste. Grantor shall not cause,conduct or permit any nuisance nor commit,permit,or suffer any stripping of or waste on or to
Property or any portion of the Property. Without limiting the generality of the foregoing,Grantor will not remove,or grant to any other party
right to remove,any limber.minerals including oil and gas),sag,gravel or rock products without the prior written consent of Lender.
Removal of Improvements. Grantor shall not demolish a remove any Improvements from the Real Property without the prior written consent
Lender. Asa condition to the removal of any Improvements,Lender may require Grantor to make arrangements satisfactory to Lender to reek
such Improvements with Improvements d al least equal value.
Lender's Right to Enter. Lender and es agents and representatives may enter upon the Real Properly al a1 reasonable times to attend
Lenders interests and to inspect the Property tor purposes of Grantor's compliance with the tams and conditions of this Deed of Trust.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws,ordinances,and regulations,now or hereafter
effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans %
• Disabilities Act. Grantor may contest In good faith any such law,ordinance, or regulation and withhold coiptiance during any proceeds
inducing appropriate appeals,so long as Grantor has notified Lender in writing prior to doing so and so erg as, in Lender's sale opkw
Lender's interests in the Properly are not jeopardized. Lender may require Grantor to post adequate security or a surety bond,reason&
di satisfactory to Lender,to protect Lender's interest,
i Duty to Protect. Grantor agrees neither to abandon nor leave unattended the Properly. Grantor shall do all other acts,in addition to those a
set forth above in this section,which from the character and use of the Properly are reasonably necessary to protect and preserve the Property.
er.,• DUE ON SALE-CONSENT BY LENDER. Lender may,at its option,declare immediately due and payable at sums secured by this Deed of Tn
• `^ upon the sale or transfer,without the Landers prior written consent,of all or any part of the Real Property,or any interest in the Real Property. A'
o or transfer means the conveyance of Real Property or any right,title or interest therein;whether legal.beneficial or equitable;whether voluntary
.� involuntary;whether by outright sale,deed,instalment sale contract,land contract,contract for deed,leasehold interest with a term greater than W
(3)years.lease-option contract,or by sale,assignment,or transfer of any beneficial interest in or to any land bust holding title to the Real Property,
tin by any other method of conveyance of Rear Properly interest If any Grantor is a corporation,partnership or limited liability company,transfer al
cn
includes any change in ownership of more than twenty-five percent(25%)of the voting stock,partnership interests or tilled liability company stares
• as the case may be,of Grantor. However,this option shall not be exercised by Lender If such exercise is prohibited by federal law or by Colorado lay
• - TAXES AND LIENS. The fallowing provisions relating to the taxes and liens on the Property are a part of this Deed of Trust.
Payment. Grantor shall pay when due(and in all events prior to delnquency)all taxes,special taxes,assessment%charges(including water a.
sewer),fines and impositions levied against or on account of the Property,and shall pay when due all claims for work done en or for sonic
• rendered or materiel furnished to the Property. Grantor shall maintain the Property free of all Yens having priority over or equal to the interest
• Lander under this Deed of Trust,except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of Trust.
Right To Contest. Grantor may withhold payment of any tax,assessment or claim in connection with a good faith dispute over the obligation
pay,so long as Lender's interest in the Properly is not jeopardized It a lien arises or is Ned as a result of nonpayment,Grantor shall within lee
• (15)days alter the ten arises or,a a lien Is tied,within fifteen(15)days after Grantor has notice of the Mug,secure the discharge of the Yen,or
• requested by Lender,deposit with Lender cash or a sufficient corporate surely bond or other security satisfactory to Lender In an amount suffice
7 to discharge the lien plus any costs end attorneys'fees or other charges that could accrue as a result of a foreclosure or sale under the lien.
any contest,Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor sh
name Lender as an additional obligee under any surety bond furnished In the contest proceedings
•
• Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and sh
ta authorize the appropriate govemnental official a deliver to Lender at any time a written statement of the axes and assessments against II
co, Properly.
• in
fr Notice of Construction. Grantor shall notify Lender at Mast Moen(15)days before any work is commenced,any account are work,d.or r
materials are suppled to the Properly,if any mechanic's Ben,materfaamen's lien.or other lien could be asserted on account of the service
or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and W pay II
costa such Improvements.
PROPERTY DAMAGE INSURANCE. The following provisions reeding to Inning the Property smeared of this Deed of Trust.
Maintenance of Insurance, Grantor shall procure and maInetn parties of fire insurance with standard extended coverage endorsements on
replacement basis for the fun insurable value covering at improvements on the Real Property in an amount sufficient to avoid application of ar
coinsurance clause,and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and matnWn comprehensive genet
liability insurance In such coverage amounts as Lender may request with trustee and Lender being named as additional insureds in such labs
•
insurance pandas- Additionally,Grantor shall maintain such other insurance,including but not limited to hazard,business Interruption,and bol
^ insurance,as Lender may reasonably requke. Policies shall be written in form,amounts,coverages and basis reasonably acceptable to Lend
and issued by a company or companies reasonably acceptable to Lender. Grantor,upon request of Lender,will delver to Lender from lime
time the policies or certificates of insurance in form satisfactory to Lender,including stipulations that coverages wit not be canceled or dminsht
without al least ten(10)days'prior written notice to Lender. Each Insurance potty also shall Include an endorsement providing that coverage
favor of Lender MN not be impaired in any way by any act,omission or default of Grantor or any other person. Should the Real Property at r
time become located hi an area designated by 0e Director of the Federal Emergency Management Agency as a special flood hazard area,Grant
agrees to obtain and maintain Federal Flood insurance ce for the full unpaid principal balance of the loan,up to the madum policy lints set and
the National Rood Insurance Program,or as otherwise required by Lander,and to maintain such insurance for the term of the loan.
Application of Proceeds. Grantor'shall promptly notify Lender of any toss or damage to the Properly. Lender may make proof of loss If Grant'
fails to do so within fifteen(15)days of the casualty. Whether or not Lender's security is impaired,Lender may,al its Section,receive and rale
the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness.payment of any lien affecting the Property,or It
restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,Grantor shall repair or replace the damage
or destroyed Improvements In a manner satisfactory to Lender. Lender shall,upon satisfactory proof of such expenditure,pay or reimburs
Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not In default under this Deed of Trust. Any proceeds who
r
hava not n disbursed wahin 180 days after thee receipt and which Lander has not committed to the repair or restoration of the Property s
be used ant
• pay any amount owing to Lander under this Deed of Trust,then to pay accrued interest,and the remainder,If any,shall be ape
to the principal balance of the Indebtedness. If Lender holds any proceeds after payment et rim of the Indebtedness,such proceeds shall be;
to Grantor as Grantor's Interests may appear.
Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit of,and pass to.the purchaser of the Property covered by
Deed of Trust al any trustee's sale or other sale held under the provisions of Iles Deed of Trust,or at any foreclosure sale of such Properly.
Grantor's Report on Insurance. Upon request of Lender,however not more than once a year,Grantor'shaa furnish to Lender a report on e
exhaling policy of Insurance showing: (a)the name of the Insurer; (D)the darks Insured; (c)the amount of the poky; (d)the property Versed,
then current replacement value of such properly,and the manneror determining that value;and (e)the expiration date 01 the�. Gran
shall,upon request or Lender,have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property
EXPENDITURES BY LENDER. If Grantor fails to comply,wth any provision of this Deed of Trust,or if any action or proceeding is commenced I
would materially affect Lender's interests in the Property,Lender on Grantor's behalf may,but shall nor be required to,take any action that Len
•
deems appropriate. My amount that Lender expends in so doing will bear interest at the rate provided lot in the Note from the date incurred or p
• by tender to the date of repayment by Grantor. Al such expenses,at Lender's option,wit (a)be payable on demand, (b)be added to the balanm
the Note and be apportioned among and be payable with any installment payments to become due during either (I)the term of any applica
Insurance pokey or (a)the remaining term of the Nola,or (c)be treated as a balloon payment which war be due and payable at the Notes mate
This Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in addition to any other nghs or I
remedies to which Lender may be entitled on account of the default Any such action by Lender shall not be construed as curing the default so a:
bar Lender from any remedy that H otherwise would have had.
WARRANTY;DEFENSE OF TUTLE. The Sowing provisions relating to ownership'of the Properly weaned of this Deed of Trust.
Title. Grantor warrants that (a)Grantor holds good and marketable WIG of record to the Property in lee simple,free and clear of all Gans a
encumbrances other than those set forth in the Real Properly description or to any tie insurance policy,title report,or final title opinion issuer
favor of,and accepted by,Lender in connection with this Deed of Trust and (b)Grantor has the hue right,power,and authority to execute a
deliver this Deed of Trust to Lender.
Defense of Title. Subject to the exception In the paragraph above,Grantor warrants and wit forever defend the atie to the Properly against
lawful claims of all persons. In the event any action or proceeding Is commenced that questions Grantor's Me or the interest of Trustee or Lam
under this Deed of Trust,Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in such proceeding,but Lam
• shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice,and Grantor
deliver,or cause to be delivered,to Lender such instruments as Lender may request from time to time to permit such participation.
Compliance With Laws. Grantor warrants that the Properly and Grantors use of the Properly complies with all existing applicable et
ordinances,and regulations of governmental authorities.
CONDEMNATION. The Sowing provisions relating to condemnation proceedings are a part of this Deed of Trust
Application of Net Proceeds. If at or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purcha
in Bev of condemnation.Lender may Wits election require that all or any portion of the net proceeds of the award be applied to the Indebladn e
or the repair or restoration or the Property. The net proceeds of the award shhal mean the award after payment of all reasonable costs,expense
• and attorneys'lees Incurred by Trustee or Lander In connection with the condemnation.
Proceedings If any proceeding in condemnation Is Ned,Grantor shed properly notify Lender in writing,and Grantor shall promptly take su
steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party hi such proceeding,but Lender shall
entitled to Paraoipala in the proceeding and to be represented in the proceeding by counsel of its own choice,and Grantor will deliver or cause
be delivered to Lender such instruments as may be requested by a from time to time to permit such participation.
,n IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes.to
�"••• - and charges are a part of this Deed of Toad
Current Taxes,Fees and Charges. Upon request by Lender,Grantor shall execute such documents in addition to this Deed of Trust and ta
whatever other action is requested by Lender to perfect and continue Landers lien on the Real Properly. Grantor shall minibus Lender to
loxes,as desctted below,ingather with all expenses incurred in recording,perfecting cr continuing this Deed of Trust,Including without WSW
all taxes,fees,documentary stamps,and other charges for recording or registering the Deed of Trust
• Taxes. The folowing shall constitute taxes to which this section applies: (a)a specific tax upon this type of Deed of Trust or upon as or any pi
• of the Indebtedness secured by this Deed of Trust; (b)a speak tax on Grantor which Grantor is authorized or required to deduct from paymer
on the Indebtedness secured by this type of Deed of Trust; (c)a tax on this type of Deed of Trust chargeable against the Lender or the holder
the Note;and (d)a specific tax on all or any portion of the indebtedness or on payments of principal and interest made by Grantor.
0
Subsequent Taxes. If any tax to l this apples is enacted subsequent to the date al this Deed of for a this event shallDale have the san
effect as an Event of Default(as defined below),and Lander may exercise any r ail of its available remedies for an Event of Default as prover
cn m below unless Grantor either (a)pays the lax before a becomes delinquent,or (b)contests the tax as provided above In the Taxes and Live
section and deposits with Lander cash or e sufficient corporate surety bond or other security satisfactory to Lender.
un
SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement re a per!
- this Deed of Trust.
c Security Agreement. This Instrument shall constitute a security agreement to the extant any of the Property constitutes fixtures or other parson
property,and Lender shall have al of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender,Grantor shal execute financing statements and take whatever other action is requested by Lender
perfect and continue Lender's security interest in the Rents and Personal Properly. In addition to recording this Deed of Trust in the red proper
I records,Lander may,at any time and without further authorization from Grantor,file executed counterparts,copies or reproductions al this Dee
of Trust as a financing statement Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security Interest. Upc
default,Grantor shall assemble the Personal Properly in a manner and at a place reasonably convenient to Grantor and Lender and make
,o available to Lender within three(3)days alter receipt of written demand from Lender.
hm Addresses. The mailing addresses of Grantor(debtor)and Lender(secured parry), from which Information concerning the secuty ri intent
granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code),are as stared on the first page of this Deed r
Inst.
• FURTHER ASSURANCES;ATTORNEY-IN-FACT. The following protons relating to hater assurances and attorney-In-fact are a pad or this Dee
co ofTrust
r,
Further Assurances. At any time,and from time to time,upon request of Lender,Grantor WI make,execute and delver,or vN cause 10 b
made, executed or r Savored, or to ed, to LendLender's designee, and when requested by Lender, Came to be fired, recorded, raffled,
rerecorded,as the case may be,at such limas and In such offices and places as Lender may deem appropriate,any and all such mortgage
••
deeds of trust.security deeds,security agreements,s,financing statements,ace ry or ation statements,instruments of ample assurance,certificate,
and other documents as may,in the sole opinion of Lender,be necessary or desirable In order to effectuate,compela,perfect,continue,c
preserve (a)the obligations of Grantor under the Note,this Deed of Trust and the Related Documents,and (b)the liens and security interest
created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Grenloc Unless pitiNttiNed b
Gran
tor or agreed to the contrary by Lender In writing, shall reimburse Lendertor all costs and expenses incurred in connection with with th
• matters referred to In this paragraph.
Attorney-in-Fact. If Grantor tale to do any of the gangs referred to In the preceding paragraph,Lender may do so for.and in the name c
Grantor and al Grantor's expense. For such purposes,Grantor hereby Irrevocably appoints Lender as Grantor's attorney-in-fact for the ptapos
of making, executing,delivering, beg,recording, and doing all other togs as may be necessary Of desirable, in Lenders sole opinion,1,
accomplish the matters referred to in the preceding paragraph.
Flat PERFORMANCE Trustee may,upon production of the Note duly canceled,release this Deed of Trust,and such release shed constitute
release of the lien for al such additional sums and expenditures made pursuant to the Deed of Trust Lender agrees to cooperate with Grantor• ii
obtaining such release and releasing the other collateral securing the indebtedness. Any release fees required by law shall be paid by Grantor,I
permitted by applicable law.
DEFAULT. Each of the following,al the option of Lender,shag constitute an event of delete('Event of Default')under this Deed of Trust
Default on indebtedness. Failure or Grantor to make any payment when due on the-Indebtedness.
Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance,or an)
other payment necessary to prevent hang al or to affect discharge of any lien.
Default In Favor of Third Parties. Should Borrower or any Grantor default under any loan.extension of credit,security agreement,purches
sales agreement, or any other agreement. In favor of any other creditor or person that may materially affect any of Borrower's;import
Borrower's or any Grantor's ablily to repay the Loans or perform their respective obligations under this Deed of Trust or any of the Pelt
Documents.
Compliance Default. Failure of Grantor to comply with any doe term,obligation,covenant or condition contained in this Deed of Trust,the
or in any of the Related Documents.
False Statements. Any warranty,representation or slalomed made or banished to Lender by or on behalf of Grantor under the Deed of Tr
the Note or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished.
Detective Collateraltzatlon. This Deed of Trust or any of the Related Documents ceases to be in hit force and effect(induding failure of
collateral documents to create a valid and perfected security interest or Ken)at any tine and for any reason.
Insolvency. The dissolution or termination of Grantors essence as a going business,the insolvency of Grantor,the appointment of a receiver
any pan of Grantors property,any assignment for the benefit of creditors,any type of creditor workout,or the commencement of any proms(
under any bankruptcy or insolvency laws by or against Grantor.
Foreclosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,sell-hep,repossession
any other method,by any creditor of Grantor or by any governmental agency against any of the Property. However,this subsection shall not at
in the event of a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the foreclosure r torsion
proceeding,provided that Grantor gives Lander written notice of such claim and furnishes reserves or a surety bond for the claim utisfactor
Lender.
Breath 01 Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not rare
within any grace period provided therein,Including without imitation any agreement concerning any indebtedness or other obligation of Granlo
Lender,whether existing now or later.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the indebtedness or any Guarantor c
or becomes incompetent,Or revokes or deputes the validity oL or liability under,any Guaranty of the indebtedness.
Adverse Change. A material adverse change occurs in Grantor's financial condition,or Lander beeeves the prospect of payment or performs
of the Indebtedness Is impaired.
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Trustee or Lender,at its option,r
exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law:
Accelerate Indebtedness. Lender shall have the tight at Its option without notice to Grantor to declare the entire Indebtedness Immediately c
and payable,including any prepayment penally which Grantor would be required to pay.
Foreclosure. Lender shall have the right to cause al or any pad of the Real Property,and Personal Property,If Lender decides to pror
against H es H H were real property,to be sold by the Trustee according to the laws of the State of Colorado as respects foreclosures against I
property. The Trustee shall glee notice in accordance with the taws of Colorado. The Trustee shall apply the proceeds of the sale in the blow
order. (a)to all costs and expenses of the sale,Including but not hmiled to Trustee's lees.attorneys'tees,and the cost of title evidence; (b)tc
sums secured by this Deed of Trust;and (c)the excess,it any,to the person or persons legally entitled to the excess.
UCC Remedies. With respect to a or any pad of the Personal Property.Lender shall have al the rights and remedies of a secured parry un
the Uniform Commercial Code.
Coiled Rents. Lender shall have the right,without notice to Grantor,to take possession of and manage the Properly and pled the Re
including amounts past due and unpaid,and apply the net proceeds,over and above Lender's costs,against the Indebtedness. In furtherance
this right.Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. lithe Rents
collected by Lender,then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment ther
in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lendi
demand that satisfy the obligations for which the payments are made,whether or not any proper grounds for the demand existed. Lender n
exercise Its rights under this subparagraph either in person,by agent,or through a receiver.
O Appoint Reviver. Lender shall have the ateright the have a receiver r appointed foreclosure
to err possession ndto of all or any pad of the Property,o with the power
pros a and and the Property, pane preceding the Iinddaure or sale, collect may the Rents from the Progeny and by
_ protases,over and above the cost of the receivership,shaltagainst the indebtedness. The receiver serve without bond if permitted by 4
Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness too
a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. Receiver may be appointed by a court
competent jurisdiction uponp fca ex pa apptinn and without notice,notice being expressly waived.
Tenancy al Sufferance. If Grantor remains in possession of the Properly after the Property Is sold as provided above or Lander others
becomes entitled to possession of the Properly upon default of Grantor,Grantor shalt become a tenant at sufferance of Lender or the purchaser
o the Property and shall,at Lenders option,either (a)pay a reasonable rental for the use of the Property,or (0)vacate the Property immediat
upon the demand of Lender.
Other Remedies. Trustee or Lender shall have any oche right or remedy provided in this Deed o Trust or the Nola or by law.
Sale of the r tee,Property. In seg its rights ots and remedies,Lender shall t free to designate i on it lies a notice of es Le and shall
with the that bid at
the Trustee sell or any n of the Properly sale separately,thePr in one sale or by der a cow Lerch shall
i entitled a of any public r sale on allany portion ofg the Papacy. Upon any of the se at such at made under a power u sale grant
m
in this Deed Trust or pursuant r r nceedinge,If the hide of the Note is a purchaser of, h at such see,it shall be open to use and pi
o in any portion ,thef Indebtedness for or in anye cu a payment of g expenditures eny po os the bymnue do of u t shale p es n to d,a1
in rsosuch case,tt Deed Tn Noe,anti ant f Indebnts a is so uspthedb secured by this Deed of Trust shall be pad. b t
n person conducting the sale in order that the amount of Indebtedness so used or copied may be credited thereon as timing been paid.
m
• W• the party's
of Remedies.to A waiver by party r a breach provision o provision of lo Deed r Trust rut on byr e a waiur al a yprejudi
tame
the ided I rihhts othdr01 T is dthe o strint nycomplianceRef D et proor any w halvno a Elludepm by fLender to pursue any a tame
provided in Ink Deed of urst,the Note,in eny Related Document,or Grantor d by law not exclude pursuit of any other remedy,and
election to make expenditures or to take action to perform an abrogation of under this Deed of Trust alter failure of Grantor to perform sh
.o not affect Lenders right to declare a default and to exercise any of its remedies.
c Attorneys'Fees;Expenses. If Lander forecloses or institutes any suit or action to enforce any of the terms of this Deed of Trust,Lender she I
entitled to recover such sum as the court may adjudge reasonable as etlorneys'lees at Mal and on eny appeal. Whether or not any court action
involved,all reasonable expenses incurred by Lender which in Lender's opinion are necessary at any time for the protection of its interest or t
a enforcement of its rights shut become a part of the Indebtedness payable on demand end shag bear interest at the Note rae from the dale
co
expenditure until repaid. Expenses covered by this paragraph include,without imitation,however subject to any limits under applicable la
Lender's attorneys'lees whether or not there is a lawsuit,including attorneys'fees for bankruptcy proceedings(inducing Worts to modify
ri
n vacateany automatic slay or Injunction),appeals and any anticipated post-judgment collection services,the cost of searching records,obtan
title reports(including foreclosure reports),surveyors'reports,appraisal fees,title Insurance,and fees for the Trustee,to the extent permitted
applicable law. Grantor also will pay any court costs,in addition to all other sums provided by law.
Rights of Trustee. Trustee shall have allot the rights and duties of Lender as set forth In this section.
• POWERS AND OBLIGATIONS OF TRUSTEE, The following provisions relating to the powers and cOhgatons of Trustee are pert of this Deed of Tna
Powers of Trustee. In addition to all powers of Trustee arising as a mutter of law.Trustee shall have the power to take the following actions w
respect to the Property upon the written request of Lender and Grantor. (a)join in preparing and fling a map or plat-of the Real Proper
including the dedication of streets or other rights to the pubic (b)On in granting any easement or creating any restriction on the Real Proper
and (c)join in any subordination or other agreement affecting this Deed of Trust or the Interest of Lander under this Deed of Trust.
Obligations to Notify. Trustee shall not be obligated to notify any other party d e pending sale under any other trust deed or Yen,or of any act
or proceeding in which Granby,Lender,or Trustee shall be a party,unless the action or proceeding is brought by Trustee.
Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth abov
with respect to al or any parlor/the Property,the Trustee shall have the right to foreclose by notice end sale,and Lender shall have the right
foreclose by judicial foreclosure.In either case in accordance with and to the fug extent provided by applicable law.
NOTICES TO GRANTOR AND OTHER PARTIES. My notice under this Deed of Trust shall be in writing.may be be sent by teletecsimie,and sh
be effective when actually delivered,or when deposited with a nationally recognized overnight prier,or,11 mailed,shill be deemed effective wet
deposited in the United States mail test class,certified or registered mail.postage prepaid,directed to the addresses shown near the beginning of g
Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties,speWying th
•
the purpose of the notices to change the piety's address. Al copies of notices of foreclosure from the holder of any lien which has priority aver
Deed of Trust shal be sent to Lender's address,as shown near the beginning of this Deed ot Trust. For notice purposes.Grantor agrees to k
Lender and Trustee informed at al limes of Grantor's current address.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a pan of this Deed of Trust
Amendments. This Deed of Trust,together with any Related Documents,constitutes the entire understanding and agreement of the parties a
the matters set forth in 116 Deed of Trust. No alteration of or amendment to this Deed of Trust shal be effective unless given in writing and sip
by the party or parties sought to be charged or bound by the alteration or amendment.
Annual Reports. If the Property is used to purposes other than Grantors residence,Grantor shal furnish to Lender,upon request,acerb
ststatement e operating n t hat mean net operating
receivedal hfrom the Property during Grantor's previous fiscal year in such form and detail as Lander shal rem
receip6 from the Properly less all cash expenditures made in connection with the operation of
Property.
Applicable Law. This Deed of Trust has been delivered to Lender and accepted by Lender In the State of Colorado. This Deed of Tr
vial be governed by and construed In accordance with the laws of the Stale of Colorado.
Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define
provisions of this Deed of Trust.
Merger, There shal be no merger of the interest or estate sealed by this Deed of Trust with any other interest or estate in the Property al.
time held by or for the benefit of Lender in any capacity,without the written consent of Lander.
Severablity. If a court of competent jurisdiction finds any provision of this Deed of Trust to be Invalid or unenforceable as to any person
circumstance,such finding shal not render that provision invalid or unenforceable as to any other persons or circumstances. If feasible,any sr
offending provision shal be deemed to be modified to be within the limits of enforceability or validity;however,tithe offending provision cannot
so modified,It shal be stricken and all other provisions of this Deed of Trust In all other respects shall remain valid and enforceable.
Successors and Assigns. Subject to the limitations staled in this Deed of Trust on transfer of Grantor's interest,this Deed of Trust shal
binding upon and inure la the benefit of the parties,their successors and assigns. U ownership of the Property becomes vested in a person of
then Grantor.Lender,without notice to Grantor,may deal with Grantor's successors with reference to this Deed of Trust and the Indebtedness
way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the indebtedness.
Time Is of the Essence. Time is of the essence In the tedormance of this Deed of Trust.
Waivers and Consents. Lender shat not be deemed to have waived any rights under this Deed of Trust(or under the Related Documer
unless such waiver is in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shal operate as a wei
of such right or any other right A waiver by any party of a provision of this Deed of Trust shag not constitute a waiver of or prejudice the pan
right alMwise to demand strict compliance with that provision cc any other provision. No prior waiver by Lender,nor any course of deal
between Lender and Grantor,shall constitute a waiver of any of Lender's rights or any of Grantor's obligations as to any future transactio
Whenever consent by Lender is required in this Deed of Trust, the wanting of such consent by Lender In any Instance shag not cons*
continuing consent to subsequent Instances where such consent is required.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State
Colorado as to alt Indebtedness secured by this Deed of Trust
EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST,AND EACH GRANTOR AGREES TO I'
TERMS.
GRANTOR:
''~s. APPLIED FIL, ✓
.fa ATI• ORPORATION
CE 'T TcB , re 's nt
CORPORATE ACKNOWLEDGMENT
STATE OF V"W,e 4/.2 o
7-- )ss
•
COUNTY OF r ouLl7e '
•
On this /41 day of "'a-' • 19 4 1, before me,the undersigned Notary Public, personally appeared CECIL VA
ALSSURG,President of APPLI FILMS CORPORATION,A COLORADO CORPORATION,and known to me to be an authorized agent of U
corporation that executed the Deed of Trust and acknowledged the Deed of Trust to be the free and voluntary act and dad of the corporation,t
authority of Its Bylaws or by resolution of its board of directors,for the uses and purposes therein mentioned,and on oath stated that he or she
authorized to execute this Deed of'rust and in fact executed the Deed of Trust on behalf of the corporation.
By cCz � Residing at a-9 be at/ 13..-z2-- ,, So5'�
N
Notary Public in and for the Slate of My commissionexpires•
1 d '=O (CRY P is 1t
LASER PRO.Reg.U.S.Pat. T.44.011.VrAYla el 1997 CFI NOSev4rs,Inc.AedghlVaevealco-Oot AFCJeea.LNPiavtl \Li
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