HomeMy WebLinkAbout961059.tiff DEED OF TRUST
THIS DEED OF TRUST,dated March /S, 1996,between Centennial Developmental Services,Inc,a Colorado Non-Profit
Corporation,a/k/a Weld County Community Center Foundation,the grantor herein,whose address is 3819 Saint Vrain,Evans,Colorado
80620,and the PUBLIC TRUSTEE of the County or City and County in which the property described below is situated,in the State of
Colorado,
Witness:
The grantor,to secure a promissory note or notes,hereinafter referred to in the singular,dated March , 1996,for the total
principal sum of$60,000, payable to the order of the County of Weld, State of Colorado, by and through the Board of County
Commissioners of County of Weld,the beneficiary herein,whose address is 915 Tenth Street,Greeley,Colorado 80631,after the date
thereof,with no interest thereon,does hereby grant and convey unto said Public Trustee the following described property, situate in the
County of Weld,State of Colorado,to wit:
The real property described in the attached Exhibit"A."
also known by street and number as 3819 Saint Vrain,Evans, Colorado 80620.
TO HAVE AND TO HOLD the same together with all its appurtenances,in trust nevertheless,that in case of default in the payment of said
note or any part thereof,or in the performance of any covenants hereinafter set forth,then upon the beneficiary(note holder)filing notice of election
and demand for sale, said Public Trustee,atter advertising notice of said sale weekly, for not less than four weeks, in some newspaper of general
circulation in said county,shall sell said property in the manner provided by law in effect at the time of filing said notice and demand,at public auction
for cash,at any proper place designated in the notice of sale. Out of the proceeds of said sale said Trustee shall retain or pay first all fees,charges and
costs and all moneys advanced for taxes,insurance and assessments,or on any prior encumbrance,with interest thereon,and pay the principal and interest
due on said note, rendering the overplus(if any)unto the grantor;and after the expiration of the time of redemption,said Trustee shall execute and
deliver to the purchaser a deed to the property sold. The beneficiary may purchase said property or any part thereof at such sale.
The grantor covenants that at the time of delivery of these presents,he is seized of said property in fee simple.
The grantor also covenants that he will keep all buildings insured with a company approved by the beneficiary for fire and extended coverage
in an amount equal to the unpaid balance of said note with loss payable to the beneficiary,will deliver.a copy of the policy to the beneficiary,and will
pay all taxes and assessments against said property and amounts due on prior encumbrances. If grantor shall fail to pay insurance premiums,taxes,or
amounts due on prior encumbrance.the beneficiary may pay the same and all amounts shall become additional indebtedness due hereunder,and in case
of foreclosure,he will pay an attorney's fees incurred by the beneficiary.
Should the beneficiary hereunder be made a party to any action affecting this deed of trust or the title to said property,the grantor agrees that
all court costs and a reasonable attomey's fee paid by the beneficiary shall become additional indebtedness due hereunder,and the grantor does hereby
release and waive all claims in said property as a homestead exemption or other exemption now or hereafter provided by law.
It is agreed that in case of default in payment of said principal or a breach of any of the covenants herein,then said principal sum hereby
secured may at the option of the beneficiary become due and payable at once,anything in said note to the contrary not withstanding and possession of
said property will thereupon be delivered to the beneficiary,and on failure to deliver such possession the beneficiary shall be entitled to a receiver for
said property,who may be appointed by any court of competent jurisdiction.
Whenever used herein the singular number shall include the plural,the plural the singular,and the use of any gender shall be applicable to
all genders. All of the covenants herein shall he binding upon the respective heirs,personal representatives,successors,and assigns of the parties hereto.
Executed the day and year first above written.
CENTENNIAL DEVELOPMENTAL SERVICES, a Colorado
Non-Profit Corporation,a/k/a Weld County Community Center
ATTEST: Foundation '
r i [[''A . Corporate Secretary Nancy Hill,Pr i ent
(Co ''StFvl L
0444 '.
STATE OF COLORADO )
County of Weld ) ss.
If—
The foregoing instrument was acknowledged before me this / day of March, 1996, by Nancy Hill, President,
CENTENNIAL DEVELOPMENTAL SERVICES, a Colorado Non-Profit Corporation, a/k/a Weld County Community Center
Foundation.
ME.ccPm2A?niRGy+ifes; - ,7f1,CU1,2v^ i �19 , �� Witness my hand and official seal.
E-'t, -�' 7/Adig
lie
° . G; 7•;AS- l/ /✓� �r " c 3/
q� ......... � Address / `
WHEN RECORDED RETURN TO:
Bruce T.Barker
Weld County Attorney
P.O.Box 1948 '961059
Greeley,Colorado 80632
PROC)13
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alICyea— Weld County CO Clerk & Recorder 0.00
EXHIBIT "A"
Blocks 7, 8, and 107 in the Town of Evans, County of Weld, State of Colorado, as shown on the
plat recorded at Reception #N0000004, Weld County Records, and all the streets and alleys that
lie within the exterior lines of all said Blocks, and that portion of 8th Street bordering said
Blocks on the South, as vacated by Ordinance #101, recorded in Book 1353, Page 73, Weld
County Records; and that portion of Latham Street, adjoining said Blocks on the West, as
vacated by Ordinance #370-78, recorded in Book 823, Reception#1744570, Weld County
Records, all in the Town of Evans, Weld County, Colorado.
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EXHIBIT"A"
Blocks 7, 8, and 107 in the Town of Evans, County of Weld, State of Colorado, as shown on the
plat recorded at Reception#N0000004, Weld County Records, and all the streets and alleys that
lie within the exterior lines of all said Blocks, and that portion of 8th Street bordering said
Blocks on the South, as vacated by Ordinance#101, recorded in Book 1353, Page 73, Weld
County Records; and that portion of Latham Street, adjoining said Blocks on the West, as .
vacated by Ordinance #370-78, recorded in Book 823, Reception#1744570, Weld County
Records, all in the Town of Evans, Weld County, Colorado.
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PROMISSORY NOTE
$ 60,000 Greeley, Colorado
March )-, 1996
FOR VALUE RECEIVED, the undersigned, Centennial Developmental Services, Inc., a Colorado
Non-profit Corporation, a/k/a Weld County Community Center Foundation (the "Maker"), hereby
promises to pay to the order of the County of Weld, State of Colorado, by and through the Board of
County Commissioners of County of Weld (the "Note Holder"), at 915 10th Street, Greeley,
Colorado 80631, or such other place as the Note Holder may direct in writing, the sum of$60,000,
to be repaid without interest in twelve equal annual installments of$5,000, due and payable the first
day of each month, commencing July 1, 1996 and continuing each month thereafter until full and
final payment is made.
If any payment required by this Promissory Note is not paid when due, or if any default under any
Deed of Trust securing this Promissory Note occurs, the entire amount then outstanding shall at once
become due and payable at the option of the Note Holder(Acceleration); and the indebtedness shall
bear interest at the rate of eight percent (8%)per annum from the date of default. The Note Holder
shall be entitled to collect all reasonable costs and expense of collection and/or suit, including, but
not limited to, reasonable attorney's fees.
The Maker may prepay the principal amount outstanding under this Promissory Note, in whole or
in part, at any time without penalty. Any partial prepayment shall be applied against the amount
outstanding and shall not postpone the due date of any subsequent payments or change the amount
of such payments.
This Promissory Note may not be assigned without the written consent of the Note Holder. The
Maker and all sureties, guarantors, and endorsers, if any: (a) waive presentment, notice of dishonor
and protest; (b) agree to one or more extensions of time of payment of all or any part of this
Promissory Note, for any length of time; and (c) agree that the Note Holder may release, agree not
to sue, suspend its rights to enforce this Promissory Note against,or otherwise discharge or deal with
any person against whom the Maker or indorser, guarantor, or other person, if any, has a right of
recourse.
The indebtedness evidenced by this Promissory Note is secured by a Deed of Trust, dated March
, 1996 and, until released, said Deed of Trust contains additional rights of the Note Holder. Such
rights may cause Acceleration of the indebtedness evidenced by this Promissory Note. Reference
is made to said Deed of Trust for such additional terms. Such Deed of Trust grants rights in the real
property identified as follows:
The real property described in the attached Exhibit "A."
Property address: 3819 Saint Vrain, Evans, Colorado 80620.
MAKER:
CENTENNIAL DEVELOPMENTAL SERVICES,
INC., a Colorado Non-profit Corporation, a/k/a
ATTEST::] Weld County Community Center Foundation
BY: 2i,dalet /4 i
z, orporate Secretary Nancy I 1, President
f
(Corp al)
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67./ 4,2_, Weld County CO Clerk & Recorder 0.00
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