HomeMy WebLinkAbout900665.tiff Il ID
RESOLUTION
RE: APPROVE PARTIAL RELEASE OF DEED OF TRUST FOR PARKLAND
HOMEOWNERS ASSOCIATION, INC. , AND AUTHORIZE CHAIRMAN TO SIGN
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, on October 17 , 1984 , the Board of County
Commissioners approved a Deed of Trust for Parkland Estates, said
document being recorded at Book 1049 , Reception No. 01988865 , of
the records of the Weld County Clerk and Recorder, and
WHEREAS, the Board has been presented with a request from
Parkland Homeowners Association, Inc. , for a Partial Release of
Deed of Trust for Lot 7 , Block 4 , Park Land Estates, a Subdivision
of Weld County, Colorado, and
WHEREAS, after review the Board deems it advisable to approve
said Partial Release, a copy being attached hereto and
incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the Partial Release
of Deed of Trust for Parkland Homeowners Association, Inc. ,
concerning Lot 7 , Block 4 , Park Land Estates, a Subdivision of
Weld County, Colorado, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Partial Release of Deed of
Trust.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 30th day of
July, A.D. , 1990 .
/ / '//// // BOARD OF COUNTY COMMISSIONERS
ATTEST: �j� (/UGG2 WELD TY, COLORADO
Weld County Clerk to the Board
/ Uene R. rantner, C airman
/ �Y: !;—?L�L� 1 l,�sc� s.
eputy Clerk to�the Board Geo gP�, Pro=Temp
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APPROVED AS TO FORM: Constance . Har ert
,(X-44--,/'
��� C.W. �Kirb
E, County Attorne r
Gored' a y
900665
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AR2223235 •
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PARTIAL. RELEASE OF DEED OF TRUST
/44(q 4. C'f' /0.7, /490 Date •
Parkland Homeowners Association. Inc. Grantor(Borrower)
County of Weld, State of Colorado Original Beneficiary i
(Lender)
October 17, 1984 Date of Deed of Trust I
November 16, 1984 - •D eeern L a r- 3, OW Recording Date of
I
WELD Deed of TrustII
ii County of Recotwng II
II
x.,,n,,,,,N.. n,No
Reception and Film Nos. of Recorded Deed of Trust
,
II 01988865 A 07 9// o p i'
I'I 1049 ^_// 37 Book and Page of Deed of Trust I.
Page NoII II
TO THE PUBLIC TRUSTEE OF
WILD ,
County (The Public Trustee to which the above Deed of Trust conveys the said
property.)
Please execute this release, •'��ss tt�he�ii ebtedness has been artially paid and/or the terms and condititvs of the must have
been partially satisfied. n tia✓6-
County of Weld, State of Colorado, by and through
I
the Board of County Commissioners of Weld County
Curnm Beneficiary'Linden inJen
ATTEST: , , f_�rJ I�I
H0 Nana and LJ,of sty"
oU
\ s. I I s — Signature I
UII Gene R. Brantner, Chairman
KNOW ALL MEN,that the above referenced Grantor(s),by Deed . "Trust conveyed certain real property described I
CO II in said Decd of Trust, to the Public Trustee of the County referenced above, in the State of Colorado to be held in trust to
a
0a al 3 , secure the payment of the indebtedness referred to therein.
NOW THEREFORE, at the written request of the legal holder of the said indebtedness, and in consideration of the
°P4 j premises and the payment of the statutory sum, receipt of which is hereby acknowledged, 1, as the Public Trustee
2 ii referenced above, do hereby remise, release and quitclaim unto the present owner or owners of the property hereinafter
Udescribed,and unto the heirs,successors and assigns of such owner or owners forever,all the right,title and interest which I
W have under and by virtue of the aforesaid Deed of Trust in that portion of the property described as follows, to wit:
•-1a
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•• ° ' Lot 7, Block 4, Park Land Estates,
ti z a subdivision of Weld County
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M W I TO HAVE. AND TO HOI.D THE. SAME, with all the privileges and appurtenances thereunto belonging forever; and
N W I further, that,as to the above described property, I do hereby f uliy and absolutely release,cancel and forever discharge said I'
N z I Deed of Trust. AUG 1, 3 1990 b.N z
Nod (/ II
Public l usme
U 4 II
r�7
a j by
N N Iklmty Public"IYustee
IN N I
H H I
State of ColoradoCil r,,,,,,,, �''
r" County of ,/'"boa 40 '�*'< I I
WELD ,e .a,''� I.The foregoing instrument was acknowledged before me in ; re : � a II
rano0 , '.4. ••.
WELD County, State of Colorado, on
AUG t 1 1990 (date) by F : •�','-
as the ca •.• .(a i
MINE D. NYE <, •.• 0la
Public Trustee of i
II WELD County, Colorado. Witness My. Hand and Sca7 !I
• 11'NE 6, 1992 Date Commission ExpiresII
'
II
1090 9th St.. No. 201. Greeley. CO II
80631 Now)eJJrtu Moo,ltihir2 t'�if
II
I :I
Deed
Original Note and of Trust Returned to:
I
II Received By ._ S+rfL j.._�___
I I
yy,,pp No 927. Bo. 5-x.t- it%MA1 II Fl TV*.OF IIFFD OF TRUST aoug.N 1'nhb.hmr SA2S N Intl 4,i! IJonL...1 Cif all•u —i nil,2ll-nieu
.
•
PM; OFFICE OF COUNTY ATTORNE
PHONE(303)3564000 EXT.43(
P.O. BOX 19,
GREELEY,COLORADO 806;
IDe
COLORADO
August 8 , 1990
Barbara Steven, Escrow Officer
Transamerica Title Insurance Company
1800 Lawrence Street
Denver, CO 80202
FAX: (303) 2914959
RE: Lot 7 , Block 4, Park Land
Estates
Dear Ms. Steven:
This letter is to confirm that Weld County, Colorado, by and
through the Board of County Commissioners of Weld County, will not
require compensation for the partial release of Lot 7, Block 4 ,
Park Land Estates Subdivision, from the Deed of Trust which is
recorded at Reception No. 01988865, Book No. 1049, in the Office
of the Weld County Clerk and Recorder. The date of the Deed of
Trust is October 17 , 1984, and its recording date was November 16 ,
1984 . The partial release of this lot is accomplished pursuant to
the Subdivision Agreement and Escrow Agreement signed by both the
Board of County Commissioners and the Parkland Homeowners
Association, Inc. , on or about October 17 , 1984 .
Please call Bruce T. Barker, Assistant Weld County Attorney, at
356-4000 , extension 4391 , if you should have any further questions
regarding the partial release of Lot 7 , Block 4 , Park Land Estates
Subdivision.
Sincerely, f�—
ce T. Barker
Assistant Weld County Attorney
BTB:rm , , ,
xc: Jack Henderson
PARKILAKD HOMEOWNERS ASSOC0AT0ON LINO.
4732 Sylvia Lane Erie, Colorado 80516
D
August 9, 1990
Ac,Ac,H 1 , 1990 1 i
Bruce T. Barker , Esq . WELD COUNTY
Office of County Attorney ATTORNEY'S OFFICE
P. O. Box 1948
Greeley, Colorado 80632
RE: INVOICES/CHECKS - PAVING AT PARKLAND ESTATES
Dear Bruce:
Per your office's request , enclosed are copies of the
invoices from Frontier Materials, Rocky Mountain Consultants,
and Empire Laboratories. Also find copies of the checks
issued as payment of these invoices.
I understand the County will release the deeds when the
paving has been accepted for maintenance by Weld County.
Please advise if I am correct .
Sincerely,
frede X LIAL
James G. Hunzeker
Secretary/Treasures Parkland Homeowners Association
Parkland Estates —A Residential Air Park
' ?, FRR4TIER ` ' " •
.�, ., _^ MATERIALS, INC. • - STAT E M EN11
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3600 HIGHWAY 52, ERIE, COLORADO 80516 PLEASE�I TAKE PAYMENT"
447.8961 • 776-8962 �.
��- DATE COST. NO. - FRONTIER
-"I I'#' I..i 51:' `[#`/' tf U 7 O D MATERIALS,INC.
1,-
- 3600 HIGHWAY 52, ERIE,COLORADO 805
RETAIN THIS PORTION FOR YOUR RECORDS 4M17-8951 • 776-6962
Mi-1RK WILLIAMS
4725;: SYLINF LANE - DATE -, CUST.N
ERi.E. ,, CO 80516 ' -
12!31/89 8671
- MARK WILLIAMS ,'
INVOICE NO. DATE DESCRIPTION AMOUNT INVOICE NO. AMOUNT
[NUOICE 4961 1542.70 . i
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UNSPECIFIED PAYMENTS APPLIED TO EARLIEST CHARGES
CURRENT 1.30 DAYS PAST DUE 3160 DAYS PAST OUE 614- DAYS PAST DUE TOTAL TOTAL
, UU 15 5517 ..02 517 . 02 . 00 . U0 155595 . 60 PLEASE PAY '
Y THIS AMOUNT J
1�...��-
TtRir„“ DUE 30 DAYS FROM INVOICE DATE . FINANLL - PLEASE RETURNr
CHARGE OF 1 1/22 PER MONTH ( ANNUAL 155 ) '
WILL EL. CHARGED ON .PAS( DUE ALCUUNIS , THIS PORTION
CUSTOMER COPY 1
_-c 1 4N �: y : �`OF YOUR STATEMEN
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I• FRON TIER
_ t
-- 3600 Hwy.52,Erie,CO 80516•Phone(303)776-8962
Sold to Mark William = Parkland Estates
4732 Svlvia Lane 6.
Erie, CO -8051'u _
• Invoice Date Nov. 30, 1989 - Job$ 89086
Date - Description Charges
9e
Phase III
Base & Pave as per
contract $154,270.00
•
Pet g�;I00o.c
I loge
Previous Balance Charges 9e Credits
Terms:Due 10 days from invoice date. Please Pay This Amount
Finance Charge of 2% per month,which is an
annual percentage rate of 24°/0 will be charged on $154,270.00•
- � past due accounts. -
INVOICE NO. 49:a
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F - lt ' t ^3600 Hwy.52,Erie,CO 80516-Phone(303)776-8962 ?
•
f ~� C¢ �• w INVOICE 11 . ,a `a. £ 2.4,„,....
` n` _.
-sold to"~"dark William Parkland Estates ----;•-,i:7*-,..'
. . i . ::( . x:4132 Sylvia,..Lane _ .-" �r ��r;
Erie,C0=:$0516 *s : <<4.:.
�s
--- i - •
— . - . - Invoice Date NOv. 30.-1989 Job r 89086 -- -`��'
• _ - Date y Description -Charges sg
Addition to _Inv $ 4951 f
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...8 • N�` l'y'` 5+2' y.
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38 CO Sales tax ,:$1047,02 ' �':
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7-4
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I- Previous Balance f~Charges l Credits
1
- Please Pay This Amount
Terms:Due 10 days from invoice date. •
F Finance Charge of 2% per month which is an -T, $1047.02 .-.:
- f past due f INVOICE NOaccouMse rate of 24"/o well be charged one;
r annual percentage
.-- ,>.f-.41; ear-7-''
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't`"�t, `'fl' CPC Form 143
.4,Al•S,"Y t.0 .-. £ 1544. '.-- _ - ---u �
E„°
Empire Laboratories, Inc. NVOICE NO-
I1 � MATERIALS AND N)YNOAiI°N ENGINEERSi\ o CORPORATE OFFICE 1363
P.O.BOX 503.301 N0.HOWES
�!_f FORE COLLINS.COLORADO 80522
November 30 1989 3031484-0359
E FAX 1303)484-0454
•
Parkland Estates Homeowners .
Attn: Mark Williams
4732 Service Lane
Erie, CO 80516
FOR PROFESSIONAL SERVICES
RE: Parkland Estates
Erie, Colorado
ELI Project #1728-L
Field Density Tests #1 to #31
31 test @ $15 . 00/ea $465 . 00
Proctor Density Curve #1 65 . 00
Travel , 4 trips @ $15 . 00/ea 60 . 00
TOTAL $590 . 00
P oC C4-4
PLEASE REMIT TO EMPIRE LABORATORIES,INC. LONGMONT, COLORADO 1Cy
TERMS:NET 30 DAYS.PAST DUE ACCOUNTS ARE CHARGED 11/2%INTEREST PER MONTH ON THE UNPAID BALANCE.THIS IS AN ANNUAL HATE OF
BRANCH OFFICES
- - i P.O.BOX 16859 P.O.BOX P.O.BOX 1744 P.O.BOX
5659 COLORADO SPRINGS,CO 80935 LONGMONT,T,COC 80502 GREELEY,CO 80632 CHEYENNE.WY 82(
(719)597-2116 (303)776-3921 (303)351-0460 (307)632-9224
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PARKLAND HOMEOWNER'S ASSOCIATION, INC. 01091
• PAVING
4732 SYLVIA LANE 377-,797
ERIE, COLORADO 805,6 23-7/1020
„sa /QM 19 en
PMe?
to the °�..p tia*p l`� 00
order of . a-� $61D�
oo/
Ga ci -1...-+ d�..� m.w.s�, ,a ,.1L� 1 oa
Doll,
United Bank of Denver
Heeww�vaeum . 13ml ee�ae+l
umlea BaM Gm«.fmOBrwex�Y Dxrw CdwuoBoxl� /
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For
000i09Lim 1: 1020000761: 95 4391I' /0000059000
•
•
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PARKLAND HOMEOWNER'S ASSOCIATION, INC.
PAVING 0109:
4732 SYLVIA LANE 377-1797
ERIE, COLORADO 80516 23-7/1020.
1184 I f 1 S 19"
hh • 1
Poide°ofe �-s. .J ern sa"t a,.z. $ 4L17 5
/51
United Bank of Denver
i,03ian.emi a
u.aae..Center,irooaww.r wmw.cm,mecev.
For
II1OO1O9301 -+: LO2OOOOMI: 95L 4390 /000019471Si
Clanahan, Tanner, Downing and Knowlton
A PROFESSIONAL CORPORATION
ATTORNEYS AT uw 1600 Broadway
Suite 2400
Denver,Colorado 80202
Telephone:(303)830-9111
Jack D. Henderson FAX:(303)830-0299
July 24, 1990
o `EV
JUL 'e ' 1990
Mr. Bruce Barker
Assistant County Attorney GCU NTV
Post Office Box 1948 JVELD O,-FIGE
Greeley, Colorado 80632 ATTORNEY'S
Re: Parkland Homeowners Association
Lot 7, Block 4 ; Parkland Estates
Our File No.00068. 026
Dear Bruce:
In accordance with our telephone conversation today, you will
find enclosed a copy of the following:
1. Contract dated June 24 , 199O between Parkland Homeowners
Association, Inc. and James Andrew Lee and Elizabeth
Havens Lee for the purchase of Lot 7, Block 4, Parkland
Estates;
2 . Transamerica Title Insurance Company commitment dated
July 18, 199O; and
3 . A check in the amount of $7.50, payable to the Public
Trustee of Weld County.
You will note from the Title Commitment that in addition to
the Deed of Trust held by Weld County, there is a Deed of Trust
held by Frontier Materials, Inc. Under the terms of the Promissory
Note and Deed of Trust with Frontier Materials, Inc. , Parkland
Homeowners Association is obliged to pay Frontier Materials 85% of
the net proceeds from the sale of the property. Therefore, at the
time of the closing, Transamerica Title Insurance Company will be
paying to Frontier Materials 85% of the net proceeds.
It is my understanding, as a result of our telephone
conversation, that you believe the balance of the proceeds are to
be placed in the escrow account has had been done in the past.
Would you please proceed to request the County Commissioner to
authorize a partial release on Lot 7, Block 4 . The check enclosed
represents the fee the Public Trustee charges for the partial
release.
Itahan,Tanner, Downing and Known
Bruce Barker
July 24, 1990
Page 2
Because the purchasers live in California, this closing is
going to have to be done by mail. Transamerica Title Insurance
Company informs me that it is unlikely that they can have
everything back from the purchasers by July 31, 1990, therefore, we
anticipate the closing will not occur until on or about August 3,
1990. I will keep you posted as to the exact time and date of the
closing.
Yours very
truly,
Jack D. Henderson
JDH/pb
Enclosure
cc: Frank Park
i •
• •
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
TRANSAMERICA TITLE INSURANCE COMPANY
AMOUNT PREMIUM
Jack Henderson, Attorney OWNER $37 ,000 . 00 $150 . 00
1600 Broadway, #2400 MORTGAGE $ $
Denver, CO 80202 MORTGAGE $ $
ADDITIONAL CHARGES $
COST OF TAX CERTIFICATE $ 10 . 00
SURVEY COSTS $
Your Reference :
Commitment No. 8029177 C-2 CC' s To: TA Denver/Barb
Other County No. 2919193 James & Elizabeth Lee
COMMITMENT TO INSURE baw
Transamerica Title Insurance Cospany, a California Corporation, herein called the Cospany, for a valuable
consideration, hereby cossits to issue its policy or policies of title insurance, as identified in Schedule
A, in favor of the proposed insured nailed in Schedule A, as owner or mortgagee of the estate or interest
covered hereby in the land described or referred to in Schedule A, upon payment of the presiums and charges
therefor; all subject to the provisions of Schedules A and B and to the conditions and stipulations attached.
Customer Contact: Barb Steven/mas By Margaret Stephenson
Phone: 291-4904 Authorized Signature
Issue Date: July 18 , 1990
The effective date of this commitment is July 12 , 1990 at 7 : 00 A.M.
At which time fee title was vested in:
PARKLAND HOMEOWNERS ' ASSOCIATION, INC. , a Colorado Non-Profit Corporatio:
•
SCHEDULE A
1 . Policies to be issued:
(A) Owner' s :
JAMES ANDREW LEE and ELIZABETH HAVENS LEE
(B) Mortgagee ' s :
•
PAGE 2 OF 8 8029177 C-2
SCHEDULE A - Continued
2 . Covering the Land in the State of Colorado, County of Weld.
Described as :
Lot 7,
Block 4,
PARR LAND ESTATES,
a subdivision of WELD COUNTY
PAGE 3 OF 8 8029177 C-2
•
•
SCHEDULE A - Continued
REQUIREMENTS
3 . The following are the requirements to be complied with prior to
the issuance of said policy or policies . Any other instrument
recorded subsequent to the date hereof may appear as an exception
under Schedule B of the policy to be issued. Unless otherwise
noted, all documents must be recorded in the office of clerk and
recorder of the county in which said property is located.
A. Partial Release by the Public Trustee, releasing subject property
from the lien of :
Deed of Trust from : PARKLAND HOMEOWNERS ' ASSOCIATION, INC.
to the Public Trustee of the County of Weld
for the use of THE COUNTY OF WELD, STATE OF COLORADO
to secure $242 , 514 . 00
dated October 17, 1984
recorded November 16, 1984 in Book 1049 as Reception
No. 1988865
re-recorded December 3 , 1986 in Book 1137 as Reception
No. 02079110
NOTE: Security and Escrow Agreement recorded November 16, 1984
in Book 1049 as Reception No. 1988864 .
NOTE: Subordination Agreement recorded January 5, 1987 in Book
1141 as Reception No. 02083381 wherein the beneficiary
of the Deed of Trust shown above purports to subordinate
this lien to that deed of trust dated October 28 , 1986
payable to FRONTIER MATERIALS, INC.
B. Partial Release by the Public Trustee, releasing subject property
from the lien of :
Deed of Trust from : PARKLAND HOMEOWNERS ' ASSOCIATON, INC.
to the Public Trustee of the County of Weld
for the use of FRONTIER MATERIALS, INC.
to secure $73 , 317 . 02
dated April 1 , 1990
recorded April 16, 1990 in Book 1261 as Reception
No. 2210818
C. Deed, executed by the President, Vice President or other head
officer
from PARKLAND HOMEOWNERS ' ASSOCIATION, INC. ,
a Colorado Non-Profit Corporation
to JAMES ANDREW LEE and ELIZABETH HAVENS LEE
NOTE: Corporate Seal or facsimile must be affixed.
PAGE 4 OF 8 8029177 C-2
•
SCHEDULE B
THE POLICY OR POLICIES TO BE ISSUED HEREUNDER WILL NOT INSURE AGAINST:
1 . Rights or claims of parties in possession not shown by the public
records .
2 . Easements, or claims of easements, not shown by the public records
3 . Discrepancies, conflicts in boundary lines, shortage in area,
encroachments, and any facts which a correct survey and inspection
of the premises would disclose and which are not shown by the publ:
records .
4 . Any lien, or right to a lien, for services, labor or material
heretofore or hereafter furnished, imposed by law and not shown
by the public records .
5 . Taxes due and payable and any tax, special assessments , charge
or lien imposed for water or sewer service, or for any other speci,
taxing district.
6. All minerals and all mineral rights of every kind and every
character now known to exist or hereafter discovered, including
without limiting the generality of the foregoing, oil and gas righ
thereto, together with the sole, exclusive and perpetual right
to explore for, remove and dispose of, said minerals by any means
or methods and of any time or times suitable to the seller, its
successor and assigns. The perpetual right to enter upon and use
these certain surface locations referred to as "Development Areas"
as specified in Agreement (but without entering upon, using, or
in any manner damaging the surface of the remaining lands conveyed
except for the construction, maintenance and use of roadways
thereover, as provided in Agreement) for the exploration for,
removal and disposal of minerals hereby excepted and reserved and
minerals underlying other lands, with the perpetual right for said
purposes to have any buildings, other structures or property remov
from the Development Areas without expense to the Seller, its
successors or assigns, as set forth in Agreement between Union
Pacific Land Resources Corporation and Purchasers , dated June 6,
1972 numbered C. D. No. 103-2 , and as reserved in Special Warranty
Deed recorded December 14, 1972 in Book 682 as Reception No .
1603550, and any interests therein or rights thereunder.
PAGE 5 OF 8 8029177 C-2
7 . Provision that premises described may have been impaired by mining
operations heretofor carried on beneath the surface, and that Sell
shall not be liable therefor, and other terms and conditions of
Agreement between Union Pacific Land Resources Corporation and
Purchasers, dated June 6, 1972, numbered C. D. No. 103-2; includin
provisions that Purchasers shall not transfer or assign Agreement
or any interest therein, without the consent in writing of the
Seller, any such assignment to be void and to terminate Agreement,
at option of Seller, and as contained in Special Warranty Deed
recorded December 14, 1972 in Book 682 as Reception No. 1603550 .
8 . Right of ingress and egress to and from the Development Areas as
reserved in Special Warranty Deed from the Union Pacific Land
Resources Corporation, recorded December 14, 1972 in Book 682 as
Reception No. 1603550 .
9 . Utility and drainage easements, aircraft taxi easements, ditch
easements, well easements, and 100 year flood plain limits, all
as shown on the Plat of said Subdivision.
PAGE 6 OF 8 8029177 C-2
10. Covenants, Conditions and Restrictions, which do not contain a
forfeiture or reverter clause, but omitting restrictions , if any,
based on race, color, religion or national origin, as shown on
the recorded Plat of said Subdivision, providing as follows :
1 . There will be a 20 ft. wide drainage and utility easement at
the front of all lots, also 20 ft. ( 10 ft. each side) drainage
and utility easement on all common lot lines unless indicated
otherwise .
2 . Contractor to notify county engineer 48 hours prior to all
phases of road construction.
3 . Tract "A" to be used for aircraft maintenance, aircraft tie-dc
and recreation purposes.
4 . Tract "B" to be used solely for the purpose of aircraft take-o
and landing.
5 . There is a total of ninety-one ( 91 ) residential lots .
6 . Tracts "CP and "D" are reserved by use by present and future
owners of lots in this subdivision for recreational uses and
conveyance of 100 year storm.
7 . No permanent structures shall be built within the " 100 year
flood plain limit" as illustrated on this plat.
8. All deflection points on the outer boundary and right of way
lines of interior streets as shown on this plat shall be monumente
with a 18" rebar and durable cap imprinted with the land surveyor '
registration number responsible for the establishment of said
monument. Excepting monuments shown as being found on sheets 2 ,
3 and 4 of this plat.
9. Vehicular access for Lot 12 , Block 4 , may be taken no closer
than 150 ft. from the intersection of County Road No. 5 and No.
12 . No other vehicular access from County Road No. 3 , 5 or 12
without permission of the County engineer will be permitted.
10 . Bearings are based on the West line of the North 1/2 of Sectic
8 , as determined by U. S. B.L.M. survey of 1952 .
11 . A $1000 . 00 lien can be placed on any property by the offended
party as a result of the removal of water from any of the ditches
or lateral by that property owner. Said lien shall run in favor
of the offended party.
11 . Covenants , Conditions and Restrictions, which do not contain a
forfeiture or reverter clause, but omitting restrictions, if any,
based on race, color, religion, or national origin, as contained
on Map recorded August 3 , 1977 in Book 804 as Reception No. 17262C
PAGE 7 OF 8 8029177 C-2
12 . Terms, agreements , provisions, conditions and obligations as
contained in Subdivision Agreement by and between the Board of
County Commissioners of Weld County and Park Land Estates, Inc . ,
dated September 19, 1977 , recorded September 20, 1977 in Book 809
as Reception No. 1730930; Resolution establishing the procedure
for amendment to the Parkland Subdivision Improvement Agreement,
recorded April 24, 1980 in Book 901 as Reception No. 1823297; and
Addendum to Subdivision Agreement recorded September 8, 1980 in
Book 913 as Reception No. 1835324 , and Addendum recorded November
16, 1984 in Book 1049 as Reception No. 1988863 , and Assumption
of Subdivision Agreement recorded December 3 , 1986 in Book 1137
as Reception No. 02079112 .
13 . Covenants , Conditions and Restrictions , which do not contain a
forfeiture or reverter clause, but omitting restrictions , if any,
based on race, color, religion, or national origin as contained
in instrument recorded January 18, 1978 in Book 820 as Reception
No. 1741822 .
14 . Rights of users, if any, to an integrated domestic water system
and wells, and any and all easements therefor, as disclosed by
instrument recorded February 8 , 1984 in Book 1020 as Reception
Nos. 1955636 , 1955637 , 1955639 and 1955640, insofar as the same
may affect subject property.
PAGE 8 OF 8 8029177 C-2
STATE OF CIIIDRADO CERTIFOTE OF TAXES DUE pA/(L.
Jj &s
COUNTY OF WELD
I. 1M undersigned, County Treasurer in and for said County,do hereby certify that there are no unpaid taxes,or unredeemed tax c
Wears of record in the office,on the following described property,to-wit:
TR NO.
PARCEL. 5697186 PL4-7 L7 BLK4 PARK LAND ESTATES
NADM 62146708105009 R
PARKLAND HOMEOWNERS ASSN
Noon
TRANSAMERICA TITLE 784
8029177
EXCEPT-
*1989 TAXES $657.80
TOTAL AMOUNT DUE FOR THIS PARCEL IS $328.90
This does not include land or improvements assessed separately or special District assessments unless specifically requested.
JULY 18 , 1990
FRANCIS M.LOUSTALET
1ST HALF 1989 TAXES PAID $328.90* TREASURER OF WELD COUNTY
Be?,/(921‘,46,4
B
Transamerica Title Insurance Company
Adams-Arapahoe-Denver Larimer County
Douglas-Jefferson Counties 151 West Mountain Avenue
1800 Lawrence Street Fort Collins.Colorado 80521
Denver Colorado 80202 (303)493-6464
(303)291-4800
• Pueblo County
Boulder County 627 North Main Street
1317 Spruce Street Pueblo.Colorado 81003
Boulder Colorado 80302 (303)543-0451
(303)4437160
• Routt-Jackson Counties
El Peso County 507 Lincoln Street
418 South Weber Street Steamboat Springs.Colorado 80477
Colorado Spnngs,Colorado 80903 (303)879-1611
(303)634-3731
Weld County
1113 Tenth Avenue
Greeley.Colorado 80631
(303)352.2283
TRANI SAMERICA
TITLE INSURANCE
CONDITIONS AND STIPULATIONS
Please read carefully
1. This is a Commitment to issue one or more policies of title insurance in our Standard Form when the
requirements set forth in the Commitment have been satisfied. The policy is available and should be
examined before this Commitment is used if there is any question about coverage.
?. Only the policies shown are committed to. If there are any changes in the transaction, order an
amendment from us.
3. The date on this Commitment is important. Nothing after that date has been considered by us.
!. This Commitment is good for 6 months only. Extensions should be ordered from us if they are
needed.
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The printed sortie ns of t his form approved by the
Colorado Neal Estate Commission MC 27-2-811
THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL,TAY OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.
VACANT LAND
CONTRACT TO BUY AND SELL REAL ESTATE.
(Remedies Include Specific Performance)
June 24 90
, IU
1. The undersigned agent hereby acknowledges having received from James Andrew and
• Elizabeth Havens Lee the sum of$ 3,000.00 n the form of personal
check ,CobehetdbyParkland Homeowners Ass'n, Inc.
, as earnest money and part payment for the following described real
estate in the County of Weld ,Colorado,to wit:
Lot 7, Blk. 4
Parkland Estates
together with all easements and rights of way appurtenant thereto,and all improvements thereon and all fixtures of
a permanent nature currently on the premises except as hereinafter provided, in their present condition,ordinary
wear and tear excepted, and hereinafter called the Property.
2. The undersigned persons) James Andrew and Elizabeth Havens Lee
(as joint tenantsit8allet7pfrFWAN), hereinafter called Purchaser, hereby agrees to buy the Property, and the
undersigned owner(s), hereinafter called Seller, hereby agrees to sell the Property upon the terms and conditions
stated herein.
3. The purchase price shall be U.S.$ 37,000.00 ,payable as follows:$3,000.00 hereby receipted for;
and $34,000.00 in cash or certified funds at time of closing.
a. Price to include: Membership in Parkland Homeowners Association, Inc.
and the following water rights: Hone
•
5. If a nr-.-•ler n i I i.a br obtrinod 6y Purchcnr.r fma a third panbyl-Puxoiraael+ayww=-• p•u^�'ty -I,I:Hur::y fxi
P['PIP r„r`,,,.h ,<, .ln,)o,,,,,,,,,,,'di,I,,,....xextx-axd488pHielw4!-iHfewH irad ',y '1 I_t..(....'...1-
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,,••••.,.••• ...:�1'•,� .'....� ,I' ..,. .d_.,.Id lLialll..,1 mKV.lax....x_..,.6....L.._i..pl�.vwkw♦:
7. I.f< 1 Y' L.. : ,I,J.. ,...,..L I_ L.E;,11., t...par lial _r full ps,oh_tit«(-14n-play-e.l eHw-fwiYe,illis eons aal shall Iwl
be assignable by Purchaser without.written consent of Seller.
i
H. Cost of any appraisal for loan purposes to be obtained after this date shall be paid by Purchaser.
No. SC27-2-81. CONTRACT To NUT AND SELL.REAL ESTATE(Vacant Land,
lir:W ind Publishing.5825 W.hill Ace_Lakewood.CI I Mll!11--I IUU 2;1-601III 4.85 -
9. An abstract of title to the Property,certified to date,or a current commitment for title insurance policy in all
amount equal to the purchase price, at Seller's option and expense, shall be furnished to Purchase' on or before
July 20 , 1990 .If Seller elects to furnish said title insurance commitment,Seller will
deliver the title insurance policy to Purchaser after closing and pay the premium thereon.
10. The dale of closing shall be the date for delivery of deed as provided in paragraph 11. The hour and place of I
closing shall be as designated by mutual agreement of the Seller and Purchaser.
11. Title shall be merchantable in Seller,except as stated in this paragraph and in paragraphs 1'2 and 13. Subject
to payment or tender as above provided and compliance by Purchase' with the other terms and provisions hereof.
I.
Seller shall execute and deliver a good and sufficient — — — warranty deed to Purchaser on
closing, by Jul 1 0
Y 3
IJ_,or,by mutual agreement,at an earlier dole,conveying the Property free and '
clear of all taxes,except the general tuxes for the year of closing,and outipax
free and ci• 'gar of uii liens fors .
I c..iad nopruvenacnls installed as of the .iuie of Purchaser's signature hereon, whether
assessed or not;free and clear of all liens and encumbrances except easements and mineral
reservations now of record,
except the following restrictive covenants which do not contain a right of reverter: covenants, conditions
and restrictions now of record.
and except the following specific recorded and/or apparent easements: utility, drainage, aircraft
taxiway and other easements shown on the plan of Parkland Estates Subdivision,
and subject to building and zoning regulations. ,
12. Except as stated in paragraphs 11 and 13,if title is not merchantable and written notice of defect(s)is given by
Purchaser or Purchaser's agent to Seller or Seller's agent on or before date of closing, Seller shall use reasonable
effort to correct said defect(s)prior to date of closing. If Seller is unable to correct said defect(s)on or before date of
closing, at Seller's option and upon written notice to Purchaser or Purchaser's agent on or before date of closing, the
date of closing shall be extended thirty days for the purpose of correcting said defect(s).Except as stated in paragraph
13,if title is not rendered merchantable as provided in this paragraph 12,at Purchaser's option,this contract shall be
void and of no effect and each party hereto shall be released from all obligations hereunder and all payments and
things of value received hereunder shall be returned to Purchaser.
13. Any encumbrance required to be paid may be paid at the time of settlement from the proceeds of this
transaction or from any other source. Provided, however, at the option of either party, if the total indebtedness
secured by liens on the Property exceeds the purchase price,this contract shall be void and of no effect and each party
hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall
be returned to Purchaser.
14. General taxes for the year of closing,based on the most recent levy and the most recent assessment,prepaid
rents,water rents,sewer rents,FHA mortgage insurance premiums and interest on encumbrances,if any,and
PHA Assessments
shall be apportioned to date of delivery of deed.
15. Possession of the Property shall be delivered to Purchaser on CiOSillg,
subject to the following leases or tenancies: none.
•
•
16. In the event the Property is substantially damaged by fire, flood or other casualty between the date of this
contract and the date of delivery of deed,Purchaser may elect to terminate this contract;in which case all payments
and things of value received hereunder shall be returned to Purchaser.
17. Time 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 as
herein provided,there shall be the following remedies: I'
(u) IF SELLER IS IN DEFAULT,(1)Purchaser may elect to treat this contract as terminated,in which case li
all payments and things of value received hereunder shall be returned to Purchaser and Purchaser may recover
such damages as may be proper,or(2)Purchaser may elect to treat this contract as being in full force and effect
and Purchaser shall have the right to an action for specific performance or damages,or both.
(b) IF PURCHASER IS IN DEFAULT,(1)Seller may elect to treat this contract as terminated,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(2)Seller may elect to treat this contract as being in full force and
effect and Seller shall have the right to an action for specific performance or damages,or both.
(c) Anything to the contrary herein notwithstanding, in the event of any litigation arising out of this
contract,the court may award to the prevailing party all reasonable costs and expense,including attorneys'fees.
18. f\r...l.a—. .....i C..Ih.. that,:..t6..v...L vf-anyeent ....,ardingiho.eastiest.-ntoosy-holdaw-basker,
W•
ait
..... d-en euet and-,may.....,. a^'e^r•u ra^re^yu.t...........,aye"' u.
• •
• - - - -- - •
19. Additional provisions:
a. This contract is contingent on Weld County acceptance of soil
percolation test results required for installation of a septic tank.
20. If this proposal is accepted by Seller in writing and Purchaser receives notice of such acceptance on or before
July 10 , 192, this instrument shall become a contract between Seller and Purchaser rind shall
inure to the benefit of the heirs,successors and assigns of such parties,except as stated in paragraph 7.
Puri aeer L Xgx
Date
i
I'_•
L
to/t.- �•7:
refiner
/� ale ,p
• Purchaser's Address rel," , 2 Ls-s.r�,ti �h C/�—yyadeA� 7/
®A- 7.2-2-O569 )
(The following section to be gompleled by Seller and Listing Agent)
21. Seller accepts the above proposal this¢7cr---.day of �ev2za� _, I!1-rL0�1••••+•••r••-...1
11 ry,.y_...._i__:_. / '7 ..f th,. p.l.J.erc p-i__ r_____ .: -/i.bkia-hexer
•
ereuml ,
1 a:..' 1 a • re'• g1+ _1 rend 1'. I.d
Sell Y
o Sellc
Seller's Address Parkland Homeowners Association, Inc .
1525 Rue De Trust, Erie, CO 80516
Listing Broker's Name and Address
I
Clanahan, Tanner, Downing and Knowlton
A PROFESSIONAL CORPORATION
ATTORNEYS AT LAw 1600 Broadway
JOIN P.MOLT III
J.DAVID ARKELL Suite 2400
JAMES T.AYERS JR. Denver,Colorado 80202
ROBERT J.M MONT.JR. Telephone:(303)830-9111
C KEVIN C HILL FAX:(303)8300299
DENIS G.CLANAHAN
JAMES M.COISKY
RICHARD DONNING.JR.
JANET N.HARRIS
JACK D.HENDERSON
SHERYL L.NONE
DAVID C KNONLTON
JUDITH M.MMIDCK
THOMAS C.MCKEE
PETER T.MOORE
GREGORY O PENKOWSKV il
/.L �EISLE A8IUMS PIII RANDOLPH p� April 13 , 1990 '�•i y i �':JOSEPH K.REYNOLDS DMDM.RICH //" rrIRA E.TANNER.JR. �C i'\GV '.NANCY SXEA WHITE ` ',
MICHAEL J.ACZNWK
COUNSEL SC
BARKLEY L.CLANAHAN
Clerk and Recorder
Weld County
P.O. Box 459
Greeley, Colorado 80632
Re: Deed of Trust
Parkland Homeowners/Frontier Materials, Inc.
Our File No. 00068. 001
Dear Clerk and Recorder:
Enclosed for recording is the original Deed of Trust dated
April 1, 1990, between Parkland Homeowners Association, Inc.
(Borrower) and Frontier Materials, Inc. (Lender) , together with our
check in the amount of $20.00 for your recording cost. Please
return the recorded Deed to our office in the enclosed, self-
addressed stamped envelope.
Thank you for your assistance.
Sin erely,
v
121
Mar3o� Cu
Sin
to J mes T. Ayers, Jr.
/mjm
Enclosure
cc: James G. Hunzeker (w/encl. )
Bruce Barker, Esq. (w/encl. )
Frontier Materials, Inc. (w/encl. )
Ted Trauernicht, Esq. (w/encl. )
The printed portions of this form approved by
the Colorado Reel Estate Commission(TD 71-2-81)
IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION,CONSULT LEGAL COUNSEL
THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL.TAX ON OTHER COUNSEL SHOULD BE CONSULTED BEFORE SHINING.
DEED OF TRUST
THIS DEED OF TRUST is made this 1st day of April ,19 90,between
PART LAND HCMEOWNERS' ASSCCIATION, INC. (Borrower),
whose address is 1525 Rue De Trust, Erie, Colorado 80516
and the Public Trustee of the County in which the Property(see paragraph I)is situated(Trustee); for the benefit of
FRONTIER MAI RTATC, INC.
(Lender),whose address is
3600 Highway 52, Erie, Colorado 80516
Borrower and Lender covenant and agree as follows: -
1. Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein
created,hereby grants and conveys to Trustee in trust,with power of sale,the following described property located in
the County of Weld ,State of Colorado:
Lots 13, 18, 20, 21, 22 and 23, Block I;
Lot 6, Block 3; and
Lot 7, Block 4
Parkland Estates
A suhaivision of Weld County
ti.,,
(street)
, Colorado
(city)
(Zip Code)
(Property Addrorc),togeth^r Iwth all itr appnrton^^cc"(Property,),
2. Note;Other Obligations Secured. This Deed of Trust is given to secure to Lender:
• A.the repayment of the indebtedness evidenced by Borrower's note(Note)dated April 1 ,19 90 ,in the
principal sum of Seventy-Three Thousand Three Hundred Seventeen Dollars and Tao Cents
Ittactxtsreat,with interest on the unpaid principal balance from APri1 1St , 19 90 , until paid, at the
rate of breolmn percent per annum,with principal and interest payable at Erie, Colorado
or such other place as the Lender may designate,* pernette-o4
Dot tub(U.N.$ )dacu..tLe dey-ofeach
Ls 6 , 19_,ouch petymento to continue until the enttae ixdebbedneoo evideneed by
sus:d N.,t,. :,, f..11; "id, i.,, :f ....t p_;d, the entire principal amount outstanding and accrued interest
thereon,shall be due and payable on April 1 ,19 93;
•
in
i1 Hte eevincwEet€ {! 4h rsame wibh-. -een aE r
in aecordance with thir Dead of Truct to protect the,rorurity of this Dood of Truct;and
C.the performance of the covenants and agreements of Borrower herein contained.
3. Title. Borrower covenants that Borrower owns and has the right to grant and convey the Property, and
warrants title to the same, subject to general real estate taxes for the current year, easements of record or in
existence,and recorded declarations,restrictions,reservations and covenants,if any,as of this date and except
N/A
4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all of Borrower's
other covenants contained in the Note.
5. Application of Payments. All payments received by Lender under the terms hereof shall be applied by Lender
first in payment of amounts due pursuant to paragraph 24(Escrow Funds for Taxes and Insurance),then to amounts
disbursed by Lender pursuant to paragraph 9(Protection of Lender's Security), and the balance in accordance with
the terms and conditions of the Note.
No.TD 71.2.81.DEED OF TRUST.—13 radford Publishing Co.,5825 W.6t h Ave..Lakewood.Colorado 80214—(3031233-6900 1-e�
• •
6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
under any prior deed of trust and any other prior liens. Borrower shall pay ail taxes,assessments and other charges, ;
fines and impositions attributable to the Property which may have or attain a priority over this Deed of Trust, and
leasehold payments or ground rents, if any, in the manner set out in paragraph 24 (Escrow Funds for Taxes and
i Insurance)or,if not required to be paid in such manner,by Borrower making payment when due,directly to the payee I.
thereof. Despite the foregoing, Borrower shall not be required to make payments otherwise required by this pare-
graph if Borrower.after notice to Lender.shall in good faith contest such obligation by,or defend enforcement of such
obligation in, legal proceedings which operate to prevent the enforcement of the obligation or forfeiture of the
Property or any part thereof.
Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
Property insured against loss by fire or hazards included within the term"extended coverage' in an amount at least •
equal to the lesser of(1)the insurable value of the Property or(2)an amount sufficient to pay the sums secured by this :
Deed of Trust as well as any prior encumbrances on the Property. All of the foregoing shall be known as "Property
Insurance'.
The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colorado and
• shall be chosen by Borrower subject to Lender's right to reject the chosen carrier for reasonable cause.All insurance
policies and renewals thereof shall include a standard mortgage clause in favor of Lender,and shall provide that the .i
insurance carrier shall notify Lender at least ten(10)days before cancellation,termination or any material change of '
coverage. Insurance policies shall be furnished to Lender at or before closing. Lender shall have the right to hold the
policies and renewals thereof.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make •
proof of loss if not made promptly by Borrower.
Insurance proceeds shall be applied to restoration or repair of the Property damaged.provided such restoration
or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or
repair is not economically feasible or if the security of this Deed of Trust would be impaired. the insurance proceeds
shall be applied to the sums secured by this Deed of Trust,with the excess.if any,paid to Borrower. If the Property is
abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is given in I'.
accordance with paragraph 16(Notice) by Lender to Borrower that the insurance carrier offers to settle a claim for
insurance benefits, Lender is authorized to collect and apply the insurance proceeds. at Lender's option. either to
restoration or repair of the Property or to the sums secured by this Deed of Trust.
Any such application of proceeds to principal shall not extend or postpone the clue date of the installments
referred to in paragraphs 4 (Payment of Principal and Interest) and 24 (Escrow Funds for Taxes and Insurance)or
change the amount of such installments. Notwithstanding anything herein to the contrary, if under paragraph 19 I I
(Acceleration; Foreclosure; Other Remedies) the Property is acquired by Lender, all right. title and interest of i''
Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property
prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust
immediately prior to such sale or acquisition.
All of the rights of Borrower and Lender hereunder with respect to insurance carriers, insurance policies and I
insurance proceeds are subject to the rights of any holder of a prior deed of trust with respect to said insurance
carriers,policies and proceeds.
8. Preservation and Maintenance of Property. Borrower shall keep the Property in good repair and shall not
commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease
if this Deed of Trust is on a leasehold. Borrower shall perform all of Borrower's obligations under any declarations,
covenants,by-laws,rules,or other documents governing the use,ownership or occupancy of the Property.
9. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
Deed of Trust, or if a default occurs in a prior lien, or if any action or proceeding is commenced which materially
affects Lender's interest in the Property,then Lender,at Lender's option,with notice to Borrower if required by law.
, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, 1;
including,but not limited to,disbursement of reasonable attorney's fees and entry upon the Property to make repairs.
Borrower hereby assigns to Lender any right Borrower may have by reason of any prior encumbrance on the
!' Property or by law or otherwise to cure any default under said prior encumbrance.
Any amounts disbursed by Lender pursuant to this paragraph 9.with interest thereon, shall become additional
indebtedness of Borrower secured by this Deed of Trust.Such amounts shall be payable upon notice from Lender to
Borrower requesting payment thereof, and Lender may bring suit to collect any amounts so disbursed plus interest I
specified in paragraph 2B (Note; Other Obligations Secured). Nothing contained in this paragraph 9 shall require
I I Lender to incur any expense or take any action hereunder.
10. Inspection. Lender may make or cause to be made reasonable entries upon and inspection of the Property,
', provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor
related to Lender's interest in the Property.
11. Condemnation. The proceeds of any award or claim for damages,direct or consequential,in connection with
any condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, are
hereby assigned and shall be paid to Lender as herein provided. However. all of the rights of Borrower and Lender
hereunder with respect to such proceeds are subject to the rights of any holder of a prior deed of trust. I
In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of
Trust,with the excess,if any,paid to Borrower. In the event of a partial taking of the Property,the proceeds shall be
divided between payment upon the sums secured by this Deed of Trust and payment to the Borrower, in the same
ratio as the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to
Borrower's equity in the Property immediately prior to the date of taking. Borrower's equity means the fair market
value less the amount of sums secured by both this Deed of Trust and all prior liens(except taxes). III
If the Property is abandoned by Borrower,or if. after notice by Lender to Borrower that the condemnor offers to
make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such !
notice is given, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or
repair of the Property or to the sums secured by this Deed of Trust.
Any such application of proceeds to principal shall not extend or postpone the due date of the installments
referred to in paragraphs 4 (Payment of Principal and Interest)and 24 (Escrow Funds for Taxes and Insurance) nor
change the amount of such installments.
12. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums
• secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release,
in any manner,the liability of the original Borrower.nor Borrower's successors in interest,from the original terms of
this Deed of Trust. Lender shall not be required to commence proceedings against such successor or refuse to extend
time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any
demand made by the original Borrower nor Borrower's successors in interest.
13. Forbearance by Lender Not a Waiver. .any forbearance by Lender in exercising any right or remedy hereun-
der,or otherwise afforded be law,shall not be a waiver or preclude the exercise of any such right or remedy.
14. Remedies Cumulative. Each remedy provided in the Note and this Deed of Trust is distinct from and
cumulative to all other rights or remedies under the Note and this Deed of Trust or afforded by law or equity,and may
be exercised concurrently,independently or successively.
15. Successors and Assigns Bound;Joint and Several Liability;Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and
Borrower, subject to the provisions of paragraph 25 (Transfer of the Property; Assumption). All covenants and
agreements of Borrower shall be joint and several.The captions and headings of the paragraphs in this Deed of Trust
are for convenience only and are not to be used to interpret or define the provisions hereof.
16. Notice. Except for any notice required by law to be given in another manner, (a) any notice to Borrower
provided for in this Deed of Trust shall be in writing and shall be given and be effective upon(1)delivery to Borrower
or('1) mailing such notice by certified mail. return receipt requested, addressed to Borrower at Borrower's address
stated herein or at such other address as Borrower may designate by notice to Lender as provided herein,and(b)any
notice to Lender shall be in writing and shall be given and be effective upon (I)delivery to Lender or(2) mailing such
notice by certified mail, return receipt requested, to Lender's address stated herein or to such other address as
Lender may designate by notice to Borrower as provided herein.Any notice provided for in this Deed of Trust shall be •
deemed to have been given to Borrower or Lender when given in any manner designated herein.
17. Governing Law; Severability. The Note and this Deed of Trust shall be governed by the law of Colorado. In
the event that any provision or clause of this Deed of Trust or the Note conflicts with the law,such conflict shall not
affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision.
and to this end the provisions of the Deed of Trust and Note are declared to be severable.
18. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and of this Deed of Trust.
1 • •
I
19. Acceleration; Foreclosure; Other Remedies. Except as provided in paragraph 25(Transfer of the Property; •
I Assumption),upon Borrower's breach of any covenant or agreement of Borrower in this Deed of Trust,or upon any
default in a prior lien upon the Property, at Lender's option, all of the sums secured by this Deed of Trust shall be
immediately due and payable(Acceleration). To exercise this option, Lender may invoke the power of sale and any
other remedies permitted by law. Lender shall be entitled to collect all reasonable costs and expenses incurred in
j i pursuing the remedies provided in this Deed of Trust,including,but not limited to,reasonable attorney's fees.
If Lender invokes the power of sale,Lender shall give written notice to Trustee of such election.Trustee shall give
• such notice to Borrower of Borrower's rights as is provided by law. Trustee shall record a copy of such notice as
required by law.Trustee shall advertise the time and place of the sale of the Property,for not less than four weeks in a
• newspaper of general circulation in each county in which the Property is situated,and shall mail copies of such notice
• of sale to Borrower and other persons as prescribed by law. After the lapse of such time as may be required by law,
• Trustee,without demand on Borrower.shall sell the Property at public auction to the highest bidder for cash at the
time and place (which may be on the Property or any part thereof as permitted by law) in one or more parcels as
Trustee may think best and in such order as Trustee may determine. Lender or Lender's designee may purchase the
• Property at any sale. It shall not be obligatory upon the purchaser at any such sale to see to the application of the
purchase money.
Trustee shall apply the proceeds of the sale in the following order: (a)to all reasonable costs and expenses of the
sale.including, but not limited to,reasonable Trustee's and attorney's fees and costs of title evidence;(b)to all sums •
secured by this Deed of Trust;and(e)the excess,if any,to the person or persons legally entitled thereto.
20. Borrower's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any sums due
hereunder, the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all
delinquent principal and interest payments due as of the date of cure, costs, expenses, late charges, attorney's fees
and other fees all in the manner provided by law.Upon such payment,this Deed of Trust and the obligations secured
hereby shall remain in full force and effect as though no Acceleration had occurred,and the foreclosure proceedings
shall be discontinued.
21. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder,
Borrower hereby assigns to Lender the rents of the Property; however.Borrower shall, prior to Acceleration under
paragraph 19(Acceleration; Foreclosure; Other Remedies)or abandonment of the Property,have the right to collect
and retain such rents as they become due and payable.
Lender or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after
Acceleration under paragraph 19(Acceleration:Foreclosure;Other Remedies),and shall also be so entitled during the
time covered by foreclosure proceedings and the period of redemption,if any;and shall be entitled thereto as a matter
of right without regard to the solvency or insolvency of Borrower or of the then owner of the Property, and without
regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parte
application and without notice—notice being hereby expressly waived.
Upon Accleration under paragraph 19 (Acceleration; Foreclosure; Other Remedies) or abandonment of the •
• Property, Lender, in person, by agent or by judicially-appointed receiver, shall be entitled to enter upon, take
possession of and manage the Property and to collect the rents of the Property including those past due.All rents •
collected by Lender or the receiver shall be applied,first,to payment of the costs of preservation and management of
the Property,second,to payments due upon prior liens, and then to the sums secured by this Deed of Trust. Lender •
and the receiver shall be liable to account only for those rents actually received.
22. Release. Upon payment of all sums secured by this Deed of Trust.Lender shall cause Trustee to release this
• Deed of Trust and shall produce for Trustee the Note. Borrower shall pay all costs of recordation and shall pay the
statutory Trustee's fees. If Lender shall not produce the Note as aforesaid,then Lender,upon notice,in accordance
• with paragraph 16(Notice)from Borrower to Lender,shall obtain at Lender's expense,and file,any lost instrument
bond required by Trustee or pay the cost thereof to effect the release of this Deed of Trust.
23. Waiver of Exemptions. Borrower hereby waives all right of homestead and any other exemption in the
'' Property under state or federal law presently existing or hereafter enacted.
24. Escrow Funds for Taxes and Insurance. This paragraph 24 is not applicable if Funds as defined below are I''
i being paid pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender on each day !,'
installments of principal and interest are payable under the Note,until the Note is paid in full,a sum(herein referred I
'! to as"Funds")equal to LLVV//k1 of the yearly taxes and assessments which may attain priority over
this Deed of Trust, Plus DTLA of yearly premium installments for Property Insurance, all as rea-
sonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable �,
I estimates thereof,taking into account any excess Funds not used or shortages.
The principal of the Funds shall be held in a separate account by the Lender in trust for the benefit of the
Borrower and deposited in an institution the deposits or accounts of which are insured or guaranteed by a federal or
state agency.Lender shall apply the Funds to pay said taxes,assessments and insurance premiums.Lender may not
!, charge for so holding and applying the Funds,analyzing said account or verifying and compiling said assessments and
I I bills. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to
! Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
for which. each debit to the Funds was made. The Funds are pledged as additional security
purpose p g o ecu rty for the sums
i secured by this Deed of trust.
If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments and insurance
premiums as they fall due,Borrower shall pay to Lender any amount necessary to make up the deficiency within 30
days from the date notice is given in accordance with paragraph 16 (Notice) by Lender to Borrower requesting
payment thereof.
Upon payment in full of all sums secured by this Deed of Trust,Lender shall simultaneously refund to Borrower
I any Funds held by Lender.If under paragraph 19(Acceleration; Foreclosure;Other Remedies)the Property is sold or
the Property is otherwise acquired by Lender,Lender shall apply,no later than immediately prior to the sale of the
Property or its acquisition by Lender,whichever occurs first,any Funds held by Lender at the time of application as a
credit against the sums secured by this Deed of Trust.
25. Transfer of the Property; Assumption. The following events shall be referred to herein as a "Transfer": A
transfer or conveyance of title (or any portion thereof, legal or equitable) of the Property (or any part thereof or
interest therein),the execution of a contract or agreement creating a right to title (or any portion thereof, legal or
• equitable) in the Property(or any part thereof or interest therein),or an agreement granting a possessory right in
the Property(or any portion thereof),in excess of three(3)years.Not to be included as a Transfer are(i)the creation
of a lien or encumbrance subordinate to this Deed of Trust,(ii)the creation of a purchase money security interest for
household appliances,or(iii)a transfer by devise,descent or by operation of the law upon the death of a joint tenant.
At the election of Lender in the event of each and every Transfer:
(a) Borrower shall, upon Lender's request, submit information required to enable Lender to evaluate the
creditworthiness of the person("Transferee")who is,or is to be,the recipient of a Transfer,as if a new loan were being
made to Transferee.If Transferee is reasonably determined by the Lender to be financially incapable of retiring the
• indebtedness according to its terms,based upon standards normally used by persons in the business of making loans
on real estate in the same or similar circumstances,then all sums secured by this Deed of Trust, at Lender's option,
may become immediately due and payable('Acceleration").
(b) If Lender exercises such option to Accelerate,Lender shall give Borrower notice of Acceleration in accordance
with paragraph 16(Notice).The notice shall inform Borrower of the right to assert in the foreclosure proceeding the
• nonexistence of a default or any other defense of Borrower to Acceleration and sale. Such notice shall also provide a
period of not less than 10 days from the date the notice is given within which Borrower may pay the sums declared
due. If Borrower fails to pay such sums prior to the expiration of such period,Lender may,without further notice or
demand on Borrower,invoke any remedies permitted by paragraph 19(Acceleration; Foreclosure; Other Remedies).
Lender shall give notice of such Acceleration,within thirty(30)days after notice of any Transfer is given to Lender by
Borrower or Transferee in accordance with paragraph 16(Notice).If Lender shall not give notice of such Acceleration
• within such thirty(30)days,then Lender will have no further right to such Acceleration.
(c) If a Transfer occurs and should Lender not exercise Lender's option pursuant to this paragraph 25 to
Accelerate.Transferee shall be deemed to have assumed all of the obligations of Borrower under this Deed of Trust
including all sums secured hereby whether or not the instrument evidencing such conveyance, contract or grant
expressly so provides.This covenant shall run with the Property and remain in full force and effect until said sums
are paid in full.The Lender may without notice to the Borrower deal with Transferee in the same manner as with the
Borrower with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on
payment in full of said sums,without in any way altering or discharging the Borrower's liability hereunder for the
obligations hereby secured. •
(d)Should Lender not elect to Accelerate upon the occurrence of such Transfer then,subject to(b)above,the mere
' fact of a lapse of time or the acceptance of payment subsequent to any of such events,whether or not Lender had
actual or constructive notice of such Transfer,shall not be deemed a waiver of Lender's right to make such election
• nor shall Lender be estopped therefrom by virtue thereof.The issuance on behalf of the Lender of a routine statement
• showing the status of the loan,whether or not Lender had actual or constructive notice of such Transfer,shall not be a
• waiver or estoppel of Lender's said rights.
Continued on reverse side.
• •
26. DELETIONS. THE PARAGRAPHS DESIGNATED BELOW.WHEN INITIALED BY LENDER AND THE
UNDERSIGNED BORROWER(S),SHALL NOT BE A PART OF THIS DEED OF TRUST.
Initials Paragraph
Lender Borrower
N/A N/A 24. Escrow Funds for Taxes and
Insurance
N/A N/A 25. Transfer of the
Property;Assumption
E n
IF ):
doing business as
IF BORROWER IS CORPORATION:
ATTEST: P ND h ' ASSOCIATION, INC.
Na eot ration
�l// L by
S G. I$III'L Secretary E. Denla'r r President
7 (SEAL)
IF BORROWER IS PARTNERSHIP:
.Fame of Partnership
by
a general partner
STATE OF COLORADO qn
�t PiYt_ Ss.
COUNTY OF 'WEED
The foregoing instrument was acknowledged before me this___Melay of April
1990 ,by. James E. Denly as President and James G. Hunzeker as Secretary/Treasurer
of Parkland Homeowners' Association, Inc. , a Colorado corporation.
Witness my hand and official seal. / /
My commission expires: 4S770:,7 ! /
ki L.( . 9 . .-----(2.„.__e ,
S taryPublic
*If a natural person or persons, insert the name of such persons. If a corporation,insert, for example, "John Doe as
President and Jane Doe as Secretary of Doe & Co., a Colorado corporation." If a partnership, insert, for example,
"Sam Smith as general partner in and for Smith&Smith,a general partnership."
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• •
Clanahan, Tanner, Downing and Knowlton
A PROff5SIONAL CORPORATION
AnoRners AT uw 1600 Broadway
Suite 2400
Denver,Colorado 80202
Telephone:(303)8309111
James T.Ayers,Jr. FAX:(303)830-0299
April 6, 199O
� r
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•
Mr. James G. Hunzeker GOUNTY GE
Parkland Homeowners ' Association t ,r•$F_(-t)vuRN S OFF,
1525 Rue De Trust Ac-v0—
Erie, Colorado 8O516
Re: Promissory Note and Deed of Trust
Our File No. 00068 . 001
Dear Jim:
Enclosed please find the Promissory Note for $73 , 317 . 02 and
Deed of Trust to Frontier Materials, Inc. required under Parkland' s
Agreement with Frontier for the final phase of the paving. Please
obtain Mr. Denly' s signature on both of these documents and
personally sign each of these documents yourself. All signatures
must be notarized. After you and Mr. Denly sign the originals,
please return them to our office in the self-addressed stamped
envelope for recording and forwarding to Frontier.
If you have any questions, please call.
Sincerely,
! •
2O
James T. Ayer Jr.
JTA/mjm
Enclosures
cc: Bruce Barker, Esq.
Assistant Weld County Attorney
• PROMISSORY NOTE •
$73 , 317. 02 April 1, 1990
Erie, Colorado
FOR VALUE RECEIVED, PARKLAND HOMEOWNERS ' ASSOCIATION, INC. ,
1525 Rue De Trust, Erie, Colorado 80516 promises to pay to the
order of FRONTIER MATERIALS, INC. , 3600 Highway 52 , Erie, Colorado
80516, the sum of Seventy-Three Thousand Three Hundred Seventeen
Dollars and Two Cents ($73 , 317. 02) in U.S. currency, together with
interest at the rate of twelve percent (12%) per annum, compounded
annually payable as follows:
If not sooner paid, the entire principal amount and accrued
interest shall be due and payable on April 1, 1993 (three years
from the date of this Note) .
This Note may be prepaid in part or in full at any time
without notice, premium or penalty, however, partial payments shall
first be applied to current, accrued interest.
It is agreed that if this Note is not paid within five (5)
days after it becomes due or is declared due hereunder, the unpaid
principal balance thereon shall draw interest from the date due at
the rate of fourteen percent (14%) . The maker hereof waives
presentment for payment, protest, notice of non-payment and of
protest, and agrees to any extension of time of payment and partial
payments before, at, or after maturity, and if this Note or
interest thereon is not paid when due, or suit is brought, agrees
to pay all reasonable costs of collection, including a reasonable
sum for attorney' s fees.
IN WITNESS WHEREOF, the maker has caused this Note to be
executed as of the date first above written.
PARKLAND HOMEOWNERS ' ASSOCIATION, INC.
ATTEST:
By: By:
James G. Hunzeker. James E. Denly
Secretary/Treasurer Its President
STATE OF COLORADO )
ss.
COUNTY OF )
The foregoing instrument was subscribed and sworn to before me
in County, Colorado, this day of April , 1990, by
James E. Denly, President, and James G. Hunzeker,
Secretary/Treasurer, of Parkland Homeowners ' Association, Inc.
Witness my hand and official seal.
My commission expires:
Notary Public
• •
The printed portions of this form approved by
the Colorado Real Estate Commission ITD 71.2-811
IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION,CONSULT LEGAL COUNSEL
THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.
DEED OF TRUST
THIS DEED OF TRUST is made this 1St day of April •19 90,between
PARELAND HOKDOMNTERS' ASSOCIATION, INC. Borrower),
whose address is 1525 Rue De Trust, Erie, Colorado 80516
and the Public Trustee of the County in which the Property(see paragraph 1)is situated (Trustee); for the benefit of
FRONTTRR NIATFRTATS, INC.
(Lender),whose address is
3600 Highway 52, Erie, Colorado 80516
Borrower and Lender covenant and agree as follows:
1. Property in Trust. Borrower. in consideration of the indebtedness herein recited and the trust herein
created,hereby grants and conveys to Trustee in trust,with power of sale,the following described property located in
the County of Weld ,State of Colorado:
Lots 13, 18, 20, 21, 22 and 23, Block I;
Lot 6, Block 3; and
Lot 7, Block 4
Parkland Estates
A subdivision of Weld County
edd,..s,.f
IStreelt
, Colorado
iCityl
ertyAd�i �Zlp code)
(Pro p r�^^.),tcge'hor with all its appurronan�ac fproport}).
2. Note;Other Obligations Secured. This Deed of Trust is given to secure to Lender:
A.the repayment of the indebtedness evidenced by Borrower's note(Note)dated April 1 ,19 90 .in the
principalsumof Sevanty—Three Thousand Three Hundred Seventeen Dollars and Two Cents
ioscoacet,with interest on the unpaid principal balance from April 1st , 19 90 , until paid, at the
rate of hurl VP percent per annum,with principal and interest payable at Erie, Colorado
or such other place as the Lender may designate.m of
Dtrtlais(U.S..$ )du�onthe day ofcads
�K e , 19
the entire principal amount outstanding and accrued interest
thereon.shall be due and payable on_ April 1 ,19 93.
. n
• der
,,aid Nut,.;,,..I,el..,,t : .l,a,..,at a..y penaityQtteept
. • • .cJ wicr
•1 iof Tr.•st; tnd
C.the performance of the covenants and agreements of Borrower herein contained.
:i. Title. Borrower covenants that Borrower owns and has the right to grant and convey the Property, and
warrants title to the same, subject to general real estate taxes for the current year, easements of record or in
existence.and recorded declarations.restrictions.reservations and covenants.if any,as of this date and except
N/A
4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all of Borrower's
other covenants contained in the Note.
5. Application of Payments. All payments received by Lender under the terms hereof shall be applied by Lender
first in payment of amounts due pursuant to paragraph 24(Escrow Funds for Taxes and Insurance),then to amounts
disbursed by Lender pursuant to paragraph 9(Protection of Lender's Security), anti the balance in accordance with
the terms and conditions of the Note.
NO.TD 71-2-81.DEED OF TRUST.—Bradford Publishing Co._5e25 W.lith Ave..Lakewood.Colorado 5n214—(308)2.4.1-6900 I-84
19. Acceleration; Foreclosure: Other Remedies. Except as provided in paragraph 25(Transfer of the Property;
Assumption), upon Borrower's breach of any covenant or agreement of Borrower in this Deed of Trust,or upon any
default in a prior lien upon the Property, at Lender's option, all of the sums secured by this Deed of Trust shall be
immediately due and payable (Acceleration). To exercise this option, Lender may invoke the power of sale and any
other remedies permitted by law. Lender shall be entitled to collect all reasonable costs and expenses incurred in
pursuing the remedies provided in this Deed of Trust,including,but not limited to,reasonable attorney's fees.
If Lender invokes the power of sale.Lender shall give written notice to Trustee of such election.Trustee shall give
such notice to Borrower of Borrower's rights as is provided by law. Trustee shall record a copy of such notice as
required by law.Trustee shall advertise the time and Place of the sale of the Property,for not less than tour weeks in a
newspaper of general circulation in each county in which the Property is situated,and shall mail copies of such notice
of sale to Borrower and other persons as prescribed by law.After the lapse of such time as may be required by law,
Trustee, without demand on Borrower,shall sell the Property at public auction to the highest bidder for cash at the
time and place (which may be on the Property or any part thereof as permitted by law) in one or more parcels as
Trustee may think best and in such order as Trustee may determine. Lender or Lender's designee may purchase the
Property at any sale. It shall not be obligatory upon the purchaser at any such sale to see to the application of the
purchase money.
Trustee shall apply the proceeds of the sale in the following order: (a)to all reasonable costs and expenses of the
sale, including, but not limited to, reasonable Trustee's and attorney's fees and costs of title evidence;(b)to all sums
secured by this Deed of Trust;and(c)the excess,if any,to the person or persons legally entitled thereto.
20. Borrower's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any sums due
hereunder, the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all
delinquent principal and interest payments due as of the date of cure,costs, expenses, late charges, attorney's fees
and other fees all in the manner provided by law. Upon such payment,this Deed of Trust and the obligations secured
hereby shall remain in full force and effect as though no Acceleration had occurred,and the foreclosure proceedings
shall be discontinued.
21. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder.
Borrower hereby assigns to Lender the rents of the Property; however, Borrower shall,prior to Acceleration under
paragraph 19(Acceleration; Foreclosure; Other Remedies)or abandonment of the Property, have the right to collect
and retain such rents as they become due and payable.
Lender or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after
Acceleration under paragraph 19(Acceleration:Foreclosure;Other Remedies),and shall also be so entitled during the
time covered by foreclosure proceedings and the period of redemption,if any;and shall be entitled thereto as a matter
of right without regard to the solvency or insolvency of Borrower or of the then owner of the Property, and without
regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parte
application and without notice—notice being hereby expressly waived.
Upon Accleration under _paragraph 19 (Acceleration; Foreclosure; Other Remedies) or abandonment of the
Property, Lender, in person, by agent or by judicially-appointed receiver. shall be entitled to enter upon, take
possession of and manage the Property and to collect the rents of the Property including those past due. All rents
collected by Lender or the receiver shall be applied,first.to payment of the costs of preservation and management of
the Property, second,to payments due upon prior liens,and then to the sums secured by this Deed of Trust. Lender
and the receiver shall be liable to account only for those rents actually received.
22. Release. Upon payment of all sums secured by this Deed of Trust. Lender shall cause Trustee to release this
Deed of Trust and shall produce for Trustee the Note. Borrower shall pay all costs of recordation and shall pay the
statutory Trustee's fees. If Lender shall not produce the Note as aforesaid.then Lender, upon notice, in accordance
with paragraph 16(Notice)from Borrower to Lender, shall obtain at Lender's expense,and file,any lost instrument
bond required by Trustee or pay the cost thereof to effect the release of this Deed of Trust.
23. Waiver of Exemptions. Borrower hereby waives all right of homestead and any other exemption in the
Property under state or federal law presently existing or hereafter enacted.
24. Escrow Funds for Taxes and Insurance. This paragraph 24 is not applicable if Funds as defined below are
being paid pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender on each day
installments of principal and ink1V/Ei st are payable under the Note,until the Note is paid in full,a sum(herein referred
to as"Funds")equal to of the yearly taxes and assessments which may attain priority over
this Deed of Trust, plus of yearly premium installments for Property Insurance, all as rea-
sonably estimated initially and Prom time to time by Lender on the basis of assessments and bills and reasonable
estimates thereof,taking into account any excess Funds not used or shortages.
The principal of the Funds shall be in a separate account by the Lender in trust far the benefit of the
Borrower and deposited in an institution the deposits or accounts of which are insured or guaranteed by a federal or
state agency. Lender shall apply the Funds to pay said taxes,assessments and insurance premiums. Lender may not
charge for so holding and applying the Funds,analyzing said account or verifying and compiling said assessments and
bills. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to
Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums
secured by this Deed of Trust.
If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments and insurance
premiums as they fall due. Borrower shall pay to Lender any amount necessary to make up the deficiency within 30
days from the date notice is given in accordance with paragraph 16 (Notice) by Lender to Borrower requesting
payment thereof.
Upon payment in full of all sums secured by this Deed of Trust. Lender shall simultaneously refund to Borrower
any Funds held by Lender. If under paragraph 19(Acceleration: Foreclosure:Other Remedies)the Property is sold or
the Property is otherwise acquired by Lender, Lender shall apply,no later than immediately prior to the sale of the
Property or its acquisition by Lender,whichever occurs first.any Funds held by Lender at the time of application as a
credit against the sums secured by this Deed of Trust.
25. Transfer of the Property; Assumption. The following events shall be referred to herein as a "Transfer": A
transfer or conveyance of title (or any portion thereof, legal or equitable) of the Property (or any part thereof or
interest therein), the execution of a contract or agreement creating a right to title for any portion thereof, legal or
equitable) in the Property for any part thereof or interest therein), or an agreement granting a possessory right in
the Property for any portion thereof),in excess of three(3)years. Not to be included as a Transfer are(i)the creation
of a lien or encumbrance subordinate to this Deed of Trust,(ii)the creation of a purchase money security interest for
household appliances,or)iii)a transfer by devise,descent or by operation of the law upon the death of ajoint tenant.
At the election of Lender in the event of each and every Transfer:
(a) Borrower shall, upon Lender's request, submit information required to enable Lender to evaluate the
creditworthiness of the person("Transferee")who is.or is to be,the recipient of a Transfer,as if a new loan were being
made to Transferee. If Transferee is reasonably determined by the Lender to be financially incapable of retiring the
indebtedness according to its terms, based upon standards normally used by persons in the business of making loans
on real estate in the same or similar circumstances, then all sums secured by this Deed of Trust, at Lender's option,
may become immediately due and payable("Acceleration').
(b) If Lender exercises such option to Accelerate.Lender shall give Borrower notice of Acceleration in accordance
with paragraph 16(Notice).The notice shall inform Borrower of the right to assert in the foreclosure proceeding the
nonexistence of a default or any other defense of Borrower to Acceleration and sale. Such notice shall also provide a
period of not less than 10 days from the date the notice is given within which Borrower may pay the sums declared
due. If Borrower fails to pay such sums prim to the expiration of such period. Lender may,without further notice or
demand on Borrower,invoke any remedies permitted by paragraph 19(Acceleration: Foreclosure; Other Remedies).
Lender shall give notice of such Acceleration,within thirty(30)days after notice of any Transfer is given to Lender by
Borrower or Transferee in accordance with paragraph 16(Notice). If Lender shall not give notice of such Aect!oration
within such thirty(:30)days, then Lender will have no further right to such Acceleration_
(el If a Transfer occurs and should Lender not exercise Lender's option pursuant to this paragraph 25 to
Accelerate.Transferee shall be deemed to have assumed all of the obligations of Borrower under this Deed of Trust
including all sums secured hereby whether or not the instrument evidencing such conveyance, contract or grant
expressly so provides. This covenant shall run with the Property and remain in full force and effect until said sums
are paid in full.The Lender may without notice to the Borrower deal with Transferee in the same manner as with the
Borrower with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on
payment in full of said sums, without in any way altering or discharging the Borrower's liability hereunder for the
obligations hereby secured.
MI)Should Lender not elect to Accelerate upon the occurrence of such Transfer then,subject to(b)above,the mere
fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Lender had
actual or constructive notice of such Transfer, shall not be deemed a waiver of Lender's right to make such election
nor shall Lender be estopped therefrom by virtue thereof.The issuance on behalf of the Lender of a routine statement
showing the status of the loan,whether or not Lender had actual or constructive notice of such Transfer,shall not be a
waiver or estoppel of Lender's said rights.
Continued on reverse side.
6. Prior Mortgages and Deeds of Trust: Charges; Liens. Borrower shall perform all of Borrower's obligations
under any prior deed of trust and any other prior hens. Borrower shall pay all taxes,assessments and other cnarges,
fines and impositions attributable to the Property which mac have or attain a priority over this Deed of Trust, and
leasehold payments or ground rents, if any, in the manner set out in paragraph _4 (Escrow Funds for Taxes and
Insurance)or.if not required to be paid in such manner,by Borrower making payment when due.directly to the payee
thereof. Despite the foregoing. Borrower shall not be required to make payments otherwise required by this para-
graph if Borrower,after notice to Lender,shall in good faith contest such ooligaton by.or defend enforcement of such
obligation in, legal proceedings which operate to prevent the enforcement of he obligation or forfeiture of the
Property or any part thereof.
T. Property Insurance- Borrower shall keep tits improvements new exgLing or ne)eau,er erected on lire
Property insured against loss by lire or nazarus included within the tern_ extended coverage ' in an enin at was:
equal to the lesser 01(1)the insurable vaiue of the Property or(2)an amount sufficient to pay the sums secured by this
l ,ed 4 T.u" (:. well art: n'r.,r encumnran«x, tt. Prop e AI: or• for _.. !u!il ee Ai.•. w! as "Property
insurance .
The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colorado and
shall be chosen by Borrower subject to Lender's right to reject the chosen carrier for reasonable cause.All insurance
policies and renewals thereof shall include a standard mortgage clause in favor of Lender.and shah provide that Thu
insurance carrier shall notify Lender at least ten 1101 days before car.ceilation.termination or any material change of
coverage. Insurance policies shall be furnished to Lender at or before closing. Lender shall have toe right to hold the
policies and renewals thereof.
In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make
proof of loss if not made promptly by Burrower
Insurance proceeds shall be applied to restoration or repair of the Property damaged. provided such restoration
or repair is economically feasible and the security of this Deed of Trust IS not tnerehy impaired.If such restoration or
repair is not economically feasible or if the security of this Deed cif Trust wm11d be impaired, the insurance proceeds
shall be applied to the sums secured by this Deed of Trust,with the excess.if any. pain to Borrower. If the Property is
abandoned by Borrower, or if Borrower fails to respond to Lender within bays nom the ware notice is given in
accordance with paragraph 16 (Notice) by Lender to Borrower that the insurance carrier offers to settle a claim for
insurance benefits. Lender is authorized to collect and apply the insurance proceeds, at Lender's option. either to
restoration or repair of the Property or to the sums secured by this Deed of Trust.
Any such application of proceeds to principal shall not extend or postpone the due bate of the installments
referred to in paragraphs J )Payment of Principal and Interests and 24 (Escrow Funds for Taxes and insurance! or
change the amount of such installments. Notwithstanding anetninc nereiu to the contrary, if under paragraph 19
)Acceleration: Foreclosure; Other Remedies! the Property is acquired by Lender all right. title and interest of
Borrower in and to any insurance policies and in and to the mviceeds !herons resulting from damage to the Property
prior to the sale or acquisition shall pass to Lender to the extent of tile some secured by this Deed of Trust
immediately prior to such sale or acquisition.
All of the rights of Borrower and Lender hereunder with respect to insurance carriers, insurance noiicies and
insurance proceeds are subject to the rights of any holder of a prior deed of trust with respect to said insurance
carriers,policies and proceeds.
S. Preservation and Maintenance of Property. Borrower shall keep the Property in good repair and shall not
commit waste or permit impairment or deterioration of the Property and shaii comply with the provisions of any )ease
if this Deed of Trust is on a leasehold. Borrower shall perform all of Borrower's obligations under any declarations.
covenants,by-laws,rules.or other documents governing the use,ownership or occupancy of the Property.
9. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
Deed of Trust, or if a default occurs in a prior lien, or if any action or proceeding is commenced which materially
affects Lender's interest in the Property,then Lender,at Lender's option,with notice to Borrower if required by iaw,
may make such appearances. disburse such sums and take such action as is necessary to protect Lender's interest,
including.but not limited to,disbursement of reasonable attorney's fees and entry upon the Property to make repairs.
Borrower hereby assigns to Lender any right Borrower may have by reason of any prim' encumbrance on the
Property or by law or otherwise to cure any default under said prior encumbrance.
Any amounts disbursed by Lender pursuant to this paragraph 9, with interest thereon, shall become additional
indebtedness of Borrower secured by this Deed of Trust.Such amounts shall be payable upon notice from Lender to
Borrower requesting payment thereof, and Lender may bring suit to collect any amounts so disbursed plus interest
specified in paragraph 2B (Note: Other Obligations Secured). Nothing contained in this paragraph 9 shall require
Lender to incur any expense or take any action hereunder.
10. Inspection. Lender may make or cause to be made reasonable entries upon and inspection of the Property,
provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor
related to Lender's interest in the Property.
11. Condemnation. The proceeds of any award or claim for damages,direct or consequential,in connection with
any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are
hereby assigned and shall be paid to Lender as herein provided. However. all of the rights of Borrower and Lender
hereunder with respect to such proceeds are subject to the rights of any holder or a prior deed of trust.
In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Deed of
Trust,with the excess.if any.paid to Borrower. In the event of a partial taking of the Property.the proceeds shall be
divided between payment upon the sums secured by this Deed of Trust and payment to the Borrower. in the same
ratio as the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to
•
Borrower's equity in the Property immediately prior to the date of taking. Borrower's equity means the fair market
value less the amount of sums secured by both this Deed of Trust and all prior liens(except taxes).
If the Property is abandoned by Borrower.or if,after notice by Lender to Borrower that the condemnor offers to
make an award or settle a claim for damages.Borrower fails to respond to Lender within 30 days after the date such
notice is given. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or
repair of the Property or to the sums secured by this Deed of Trust.
Any such application of proceeds to principal shall not extend o' postpone the due date of the installments
referred to in paragraphs 1 (Payment of Principal and Interest) and 2-1 (Escrow Funds for Taxes and Insurance) nor
change the amount of'such installments.
12. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums
secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to reiease.
• in any manner,the liability of the original Borrower,nor Borrower's successors in interest,from the original terms of
this Deed of Trust. Lender shall not be required to commence proceedings against such successor or refuse to extend
time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any
demand made by the original Borrower nor Borrower's successors in interest.
13. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereun-
der,or otherwise afforded by law,shall not be a waiver or preclude the exercise of any such right or remedy.
1$. Remedies Cumulative. Each remedy provided in the Note and this Deed of Trust is distinct from and
cumulative to all other rights or remedies under the Note and this Deed of Trust or afforded by law or equity,and may
be exercised concurrently,independently or successively.
15. Successors and Assigns Bound;Joint and Several Liability; Captions. The covenants and agreements herein
contained shall bind. and the rights hereunder shall inure to. the respective successors and assigns of Lender and
Borrower, subject to the provisions of paragraph 25 (Transfer of the Property: Assumption). All covenants and
agreements of Borrower shall be joint and several.The captions and headings of the paragraphs in this Deed of Trust
are for convenience only and are not to oe used to interpret or define the provisions hereof.
16. Notice. Except for any notice required by law- to be given in another manner, (a) any notice to Borrower
provided for in this Deed of Trust shall be in writing and shall be given and be effective upon(1)delivery to Borrower
or (2) mailing such notice by certified mail, return receipt requested. addressed to Borrower at Borrower's address
stated herein or at such other address as Borrower may designate by notice to Lender as provided herein,and(b)anv
notice to Lender shall be in writing and shall be given and be effective upon (1)delivery to Lender or(2)mailing such
notice by certified mail, return receipt requested, to Lender's address stated herein or to such other address as
Lender may designate by notice to Borrower as provided herein.Any notice provided for in this Deed of Trust shall be
deemed to have been given to Borrower or Lender when given in any manner designated herein.
17. Governing Law; Severability. The Note and this Deed of Trust shall be governed by the law of Colorado. In
the event that any provision or clause of this Deed of Trust or the Note conflicts with the law,such conflict shall not
affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision.
and to this end the provisions of the Deed of Trust and Note are declared to be severable.
18. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and of this Deed of Trust.
. M •
26. DELETIONS. THE PARAGRAPHS DESIGNATED BELOW. WHEN INITIALED BY LENDER AND THE
UNDERSIGNED BORROWER(S).SHALL NOT BE A PART OF THIS DEED OF TRUST.
Initials Paragraph
Lender Borrower
N/A N/A 24. Escrow Funds for Taxes and
Insurance
N/A N/A 25. Transfer of the
Property:Assumption
EXECUTED BY BORROWER.
IF BORROWER I:NATURAL PERGON(s):
doing business as
IF BORROWER IS CORPORATION:
ATTEST: PARKLAND HCMEOWNERS' ASSOCIATION, INC.
Name w torporaoun
by
James G. Hunzeker ,eeret„rc James E. Denly, Preside.,
(SEAL)
IF BORROWER IS PARTNERSHIP:
Name of Partnership
be
a general partner
STATE OF COLORADO
SS.
COUNTY OF WED
The foregoing instrument was acknowledged before me this day of April
1990 ,by. Janes E. Denly as President and James G. Hunzeker as Secretary/Treasurer
of Parkland Homeowners' Association, Inc. , a Colorado corporation.
Witness my hand and official seal.
My commission expires:
Notary Pnhr,
'If a natural person or persons, insert the name of such persons. If a corporation,insert,for example. "John Doe as
President and Jane Doe as Secretary of Doe & Co., a Colorado corporation." If a partnership, insert, for example.
"Sam Smith as general partner in and for Smith&Smith,a general partnership."
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