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Home My WebLink About20190765.tiffT: FIRST GUARANTEE TITLE, LLC 12600 WEST COLFAX AVENUE, SUITE -170 6 LAKEWOOD, COLORADO 80215 (303) 456-1746 - (303) 431-126.5 (FAX) Lot 1 PROPERTY H .R REPORT Mark Bowman Colson, Inc. Certification cation Date:_ October 8 2018 at 7:45 a.m. Address: 4885 Aver Court, Erie, CO 80516.. Legal: LOT 1, LONGS PEAK ESTATES PAID., COUNTY OF WELD, STATE OF COLORADO. Brett E. Russell and Tammy L. Russell Warranty Deed recorded Mai_ 29, 2018 at Reception No. 4402687 Owner0ip: Doc Type: Ennbnccc: 1. A Deed of Trustdated May 14, 2018 from Brett E. Russet] and Tammy L. Russell to the Public Trustee of Weld County for the benefit of Liberty Savings Bank FSB, to secure the sum of S808,693.00 recorded May 29, 20M at Reception Not 4402688. 2. A Deed of Trust dated September 5, 2018 from Brett E. Russell and Tammy L Russell to the Public Trustee ofWeld County for the benefit of FirstBank, to secure the sum of 175,000.00 recorded September 12, 2018 at Reception No. 4430260. NO REPRESENTATION IS MADE NOR IMPLIED AS TO THE COMPLETENESS, VALIDITY OR THE LEGAL SUFFICIENCY OF SUCH DOCUMENTS, NOR HAVE ANY SUCH DOCUMENTS BEEN EXAMINED TO DETERMINE WHETHER Ol� NOT THERE ARE ANY EXCEPTIONS, RE E .TI O S, ENCUMBRANCES OR OT • . •' R MATTERS WHICH MIGHT BE DETRIMENTAL TO TITLE. NO SEARCH HAS BEEN MADE FOR ANY PRIOR RESTRICTIONS, COVENANTS,, EASEMENTS, RIGHTS OF WAY, IF ANY RE ORUE I PRIOR TO THE COMMENCEMENT OF TUN SEARCH, THIS REPORT DOES NOT CONSTITUTE A TITLE INSURANCE BINDER. AND IS GIVEN FOR INFORMATIONAL PURPOSES ONLY. THE LIABILITY OF FIRST GUARANTEE TITLE, LLC FOR Minir ERRORS OR OMISSIONS IN THE INFORMATION PROVIDED IS LIMITED TO THE AMOUNT PAW FOR MIS REPORT. NLOWVIUM LIABILITY IS FURTHER LIMITED TO OUR CUSTOMER. THERE IS O E , HE ED OR IMPLIED WARRANTIES THAT THIS REPORT IS RELIABLE FOR TITLE INFORMATION AND, THEREFORE, SHOULD BE E `IEl) BY COMMITMENT FOR TITLE INSURANCE. 1140268i 05/29/2018 03:C8 PM Total Pages: 1 Rec. Fee: $13_00 Doc Fee: $115.53 Carly Koppes - Cterk and Recorder, Weld County. CO WARRA1sTTY DEED ThiS DEED, IvCadets 14th day of May, 2013, between Bowman Corp., of the County of Weld, State of Colorado„ grantor, and. Brett E.. Russell and Tammy L. Russell, as joint tenants with rights of sur 'i orshlp. whose legal address is 4885 Avery Court Erie, CO 80516, wante.e: ' IT.I I ES SETH That the grantor for and in consideration of the sum of (S1,155,277.00) One Million One Hundred, Fifty -Five Thousand Two jlu tdred even even and 00/100 Dollars, the receipt and sufficiency of which is hereby acknowledged, has .granted, bargained, sold and conveyed, and by these pre.senl: does grant, bargain, sell, convey and confirm, unto the grantee, as joint tenantswith rights of survivorship, his or her heirs and assigas forever. all the real property together with improvements. if any. situate_ lying and being in the County of Weld. and State of Colorado described as follows: LOT 1, LONGS PEAK ESTATES Mall, COUNTY OF WELD, STATE OF COLORADO. As known by street and number .as- 4885 Avery Court, Erie, CO 80516 TOGETHER with all and singular the hereditaments and appurtenances thereto belonging, or in anywise appertaining, and the reversion and reversions, remainder and. remainders. .rents, issues _ d profits thereof and all the estate, right title, interest dlaim and demand vvitatsoever of the motor., either in law or equity, of, in and to the above bargained premises., with the heereditements and app urtenan ees_ TO HAVE AND TO BOLD the said premises above bargained and described, with the appurtenances, unto the grantee, his heirs and assigns forever: And the grantor, for itself, its heirs, and personal representatives, does covenants, grant„ bargain, and agree to and with the grantee, his or her heirs, and assigns, that at the time of the ensiling and delivery of these presents, the grantor is well seized ofthe premises above conveyed, bas good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in manna and forms as :aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature so ever, except general taxes for the year 2018 and subsequent years; arid those specific exceptions described by reference to recorded documents as reflected in the Title Documents accepted by Grantee(s) in accords,' ce with Section 8.2 (Record Title) of the Contract to Buy and Sell Real Emote relating to the above described property; distribution utility easements (including cable TV); those specifically described rights of third parties not shown by the public records of which Grantee has act=ual knowledge and which were accepted. by Grantee(s) in accordance with Section 8.3 (Off -Record Title) and Section 9 (New -11_4C or Survey) of the Contract to Buy and Sell Real Estate relating to the above, - described real property, inclusion of the property within any special taxing district; and any special assessment if the improvement were not installed as of the date of Grantee's signature en the Contract to Buy and Sell Real Estate relating to the above -described, real property, whetter .assessed. prior to or after closing. The grantor shall and will WANT AND FOREVER DEFEND the above -bargained premises in the quiet and pea e$ble possession of the. grantee„ his or her heirs and assigns, against all and every persioa or persons lawfully claiming thewhole or any part thereof_ The singular number shall include the plural, the pl.ur-al, the singular, and the use of any gender shall he applicable to all genders. IN WITNESS WIFFEREOF, the grantor has executed this deed on the dole set forth above, Etomnnan Corp. Ely: STATE OF COLO r C' COUNTY OF BOULDER The foregoing instrument was acknowledged before one this 14th day of May, 2018, by i iack,8o 'rnau, .es President of Bowman Corp_ Witness my band and official seal. My Commission Expires: Notary 'uu ' t BUSHEL 4402688 05/29/2018 03:08 PM Total Pages: 15 Rec Fee: $83.00 Carry Koppel a Clerk and Recorder! Weld County, CC WHEN RECORDED, Nal TO: LIBERTY SAVINGS BANK, FsB 3435 AIRBORNE RD STE B WILMINGTON; 01410 45177 This instilment was prepared by: Liberty Savings Bank. FSB LIBERTY SAVINGS BANK, FSB 3435 AIRBORNE RD STE B W112TO I, OHIO 45177 937-3S2-1000 ppaceAbove This Urge For Recording Data] DEED OF TRUST MIN: 100283318000043747 SIS Telephone #: (888) 679-MERS IREThITION Worth used in multiple sections of this document are defined below and other words are !defined in Sections 3, 11, 13, 18, 20 and 2L Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this doGument, which is dated May 14, 2018, together with all hiders to this document. "Borrower" is `1 TT E RUSSELL AND TAMMY L RUSSELL, Borrower is the truster under this Security Instrument. "Lender"} is L BERT' SAVING S BANK, FSB, Lender is A FEDERAL SAVINGS BANK, organized and existingunder the laws of UNITED STATES OF AMERICA. Lender's address is 3435 AIRBORNE 1th STE B, WILMINGTON, OHIO 45177; (D) "'Trustee" is the Public Trustee of WELD County', Coloradoa "NIERS" is Mortgage Electronic Registration Systems, Inc. NE S is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the beneficiary under this Security Instrurn.ent. MESS is organized and e istiag under the laws of Delaware, and has an address and telephone number of P0. f bi 2026, Flint, MI 48501-2026, te1L (888) 619- RS. (F) "Note" means the plto �,rn rty tote shamed by Borrower and dated May 14, 2018, The Note states thatBorrrrower owes Lender EIGHT HUNDRED EIGHT THOUSAL HUNDRED NINETY-THREE AND NO1100 Dllar (U.S. $808,693.0►0) plus interest. Botayowet has promised to pay this debt in regular Periodic Faeuts and to pay the debt in fill not Eater than June 1, 2048. (C) "Property" means the property that is described below under the heading "Transfer of Rights in the Property," "Loan" .means the debt evidenced by the Motet plus interest, any prepayment charges and late charges due under the Note. and all sums due under this Security in.seut: pins interest (I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are, to be executed Borrower [check box as applicable]: Adjustable Rate Rider Condominium Ruder Balloon Rider Planned Unit Development Rider ■VA Rider 1-4 Family Rider fl Biweekly Payment Rider Other (Specify] ( "Applicable Lowe, means all controlling applicable federal, state an:d local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as welt as 1.1 applicable final, rtonea.ppealable judicial opinions. II Second Home Rider y CoLOR.A1U-Single Family -Fannie Mae/Freddie Mari UNIFORM INSTRUMENT with MFRS Page 1 of11 EiS, Vim; 202C3 Form 3006 101 Borrower(s) initial . 4402688 05129/2018 03:08 PM Page 2 of 15 "Contmunity Association Dues, Fees, andAssessments" means all dues, fees, assessments aui other charges that are imposed on Borrower or the Property by a condominium association., homeowners association or similar organization. (L) "Electronic Fonds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper an electronic terminal, telephonic honic instrument,, computer, or magnetic tape so to orderinstruct,or instrument, which, �� initiated through p � authorize a financial institution to debit or credit an account. Such term includes, but is not limitedto, point -of -sale t fen, autotmited teller machine t sactions% trawlers initiated by telephone, wire transfers, and automated clearin louse transfers. O "Escrow Items" means those items that are described in Section 3. "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages desert bed in Section 5) for: (i) damage to, or destruction of; the Property; (ii) condemnation or a ba taking of a] 1 or any part of the Property; Oil) conveyance in lieu ofcond enination; or (iv) misrepresentations of , or omissions as to, the value and/or condition of the Proper y_ (0) "Mortgage Insurance" means insurance protecting Lender again!nst the nonpayment of or def It on the Loan, l "Periodic Payment" means the regularly scheduled amount due for (1) principal and int.ere5t under the Note, plus (ii) any amounts under Section 3 ofthis Security Instrument. mernt. (Q) "t PA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from. time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security i fl um ent, " RE A" refers to all requiremetts and restrictions that are imposed in regard to a ",federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RE SPA, () "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN TI IE. PROPERTY The beneficiary oftbis Security Instrument is MERS (solely as nominee for Leader and Lender's successors and assi ) andthe successors and assigns of NIERS, This Security Instriment secures to Lender. p () the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (u) the perfomiance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, B o rro etr,, in consideration of the debt and the trust herein created, irrevocably grants and conveys to Trustee in trust, with power of sane, the following described property located in the County of WELDa. SEE EXHIBIT '1A" ATTACHED HERETO AND BY TIffS REFERENCE MADE A P HEREOE Parcel ID Number: 146709204001 which currently has the address of 4885 AVERY ERIE, COLORADO 80516, ("Property Address"); TOGETHER wrm all the improvements now or hereafter erected on the property, and all c aserr ts1 appurtenances, and fixtures now or hereafter apart of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is. referred to in this Security Instrument as the "Property." Borrower understands and agrees that MFRS holds only legal title to the interests granter! by Borrower in this Security Instrument, but, if necessary to comply with law or custom, ME (as nominee for Lender and Lender's successors and assigns) has the right' to exercise any or all of those interests including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, bat not limited to, releasing and canceling this Security Instrument. BORROWER CO S ' AANTS that Borrower is lawfully seised of the estate hereby conveyed and has the risht to grant and convey the Pr'operty and that the Property is unencumbered, except for .encumbi antes of record. Borrower wants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record and lies for taxes for the current due and payable, COLORADO= in lc Family -Fannie Mac!Fre_d't te Mac- UNIFORM INSTRUMENT w1t.h MFRS Page 2 of 11 IBS, M16_ - 30203 Borrcwweris, Initials Form 300E 1/01 4402688 05/29/2018 03:08 PM Page 14 of 15 A. PUB Obligations. Borrower all perform all of Borrower's obligations under the PUlYs Constituent Documents. The "Constituent Documents" are the Vii) Declaration; (ii) articles of incorporation„ trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws or other rules or regulations of the Owners Association. Borrower shall promptly ay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B. Property Insurance. So long as the Owners Association maintains, with .a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactoiy to Lender and which provides insurance coverage in ;he amounts (including deductible levels), for the periods, and. against loss by fire,: hazards included within the term 'extended coverage," and any other hazards, including, but not limited to. earthquakes and floods, for which. Lender requires insurance, then: (1) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly y premium installments for property insurance on the Property; and (ii). Borrower's obligailon under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the- extent that the required coverage is provided by the Owners Association polic '. What Lender requires as a condition of s.his waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurancecoverage provided by the master or blanket policy. la the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply file proceeds to the sums secured by the Security Instrument, whether or not then due, with the excess, if any; paid to Borrower. C. Public Liability Insurance, Borrower shall tie such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in forme amount, andennt of coverage a to Lender. D. Condemnation. The proceeds of any award or claim for damages,, direct consequential, payable to Borrower in connection with any condemnation or other taking of all or any park of the Property or the common. areas and faeiJities of the PUD, or for anconveyance in lFell ofcondemnation, are hereby assigned and shall be pain to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section i i. E. Lender's Prior Consent. Borrower shad not, except after notice to Lender and with Lender's prior written consent either partition or subdivide the Property or consent to: (i) the abandonment or termination of the P , except for abandonment or termination required by law in the case of substantial destruction by fire MULTISTATE PUD RDER - Sin*Ge Family - Fannie Mac/Freddie Mao UNIFORM INSTRUMENT Page 2 of 3 IDS} free Borrower(s) Ir�i�als Form 31501101 4430260 09/12/2018 0ft05 AM Total Pages. 7 Rec Fee: $43.00 Carly Koppes - Clerk and Recorder. Weld County, CO Return to: Firstaank - Loan Operations, 1� 2345 West Colfax Avenue, Lakewood, CO 80215 Space Above This Line For Recording Data DEED OF TRUST (With Future Advance Clause) This is a Revolving credit Arrangement 43 DATE AND PARTE& The date of this Deed Of Trust (Security Instrument) is September 5, 2018. The parties and their addresses are: GRANTOR: 8RETT E RUSSELL 4885 Avery Court Erie. CO 80516 TAMMY L RUSSELL 4885 Avery Court Erie, CO 80516 TRUSTEE: PUBLIC TRUSTEE OF WELD COUNTY. COLORADO LENDER: FIRSTBANK Organized and existing under the laws of Colorado 12345 West Colfax Avenue Lakewood, CO 80216 1, DEFINITION , For the purposes of this document the following term has the following meaning. A. Line of Credit. "Line of Credit" refers to this transaction generally, including obligations and duties arising from the terms of all documents prepared or submitted for this transaction. 24 CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged., and to secure the Secured Debts and Grantor's performance under this Security Instrument Grantor does hereby irrevocably grant, convey and sell to Trustee, in trust for the benefit of Lender, with power of sale, the folllowing described property: LOT 1, LONGS PEAK ESTATES P.U.D., COUNTY OF WELD, STATE OF COLORADO The property is located in Weld County at 4885 Avery Court, Erie„ Colorado 80516_ Together with all rights, easements, appurtenaanoes4 royalties, mineral rights, oil and gas rights, ts, all water and riparian rights., wells, ditches and water stock and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described (all referred to as Property). This Security Instrument will remain in affect until the Secured Debts and ell underlying agreements have been terminated in writing by Lender. . MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time and from time to time will not exceed 175,000.00. Any limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this linnitation does not apply to advances made under the terms of this Security Instrument to protect Lender's security and to perform any of the covenants contained in this Security instrument. 4. SECURED DEBTS AND FUTURE ADVANCES. The term "Secured Debts" includes and this Security Instrument will secure each of the following: Brim E Res 011 Colorado Dud CI Trust COPHINDACCVLI.0000000900 6bea28090418N Minis a Kluwer Financial SetiliCeD 01996. 2011 Bankers Systc e' 257 7407 Page 1 4430260 0911212018 08:05 AM Page 2 of 7 A. Specific Debts. The following debts and all extensions, renewals+ replacements. A promissory note or other agreement, No. 2571327407, Grantor to Lender, with a maximum credit limit of $175,000,00, with percent per year (this is a variable interest rate and may change as the maturing on September 5, 2023. B. Future Advances. All future advances from Lender to Grantor under Grantor in favor of Lender after this Security Instrument. If more than refinancings, modifications and dated September 5, 20180 from an initial interest rate of 6.000 promissory note prescribes) and the Specific Debts executed by one person signs this Security Instrunient, each agrees that this Security Instrument will secure all future advances that are given to Grantor either individually or with others who may not sign this Security instrument. Ail future advances are secured by this Security Instrument even though all or part may not yet be advanced. All future advances are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future advances in any amount. Any such commitment must be agreed to in a separate writing.. Cs All Debts, All present and future,, debts from Crantor to Lender, even if this Security Instrument is not specifically referenced, or if the future debt is unrelated to or of a different type than this debt. tf more than one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a commitment to make additional or future loans or advances. Any such commitraeni must be in writings This Security Instrument will riot secure any debt for which a non -possessor, non -purchase money security interest is created in "household goods' in connection with a "consumer loan/ as those terrnare defined by federal law governing unfair and deceptive credit practices, This Security Instrument will not secure any debt for which a security interest is created in "margin stock" and Lender does not obtain a "statement of purpose," as defined and required by federal law governing securities. This Security instrument will not secure any other debt if Lender, with respect to that other debt, fails to fulfill any necessary requirements or fairs to conform to any limitations of the Truth in Lending Act (Regulation Z) or the Real Estate Settlement Procedures Act (Regulation X) that are required, for loans secured by the Property.. D. Sums. Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security lnstrument. 5. LIMITATIONS ON CRO S-COLLATERALIZATION. The Line of Credit is not secured by a previously executed security instrument if a non -possessory, non -purchase money security interest is created in "household goods" in connection with a "consumer loan," as those terms are defined by federal law governing unfair and deceptive credit practices. The Line of Credit is not secured by a previously executed security instrument it Lender fails to fulfill any necessary requirements or fails to conform to any limitations of the Real Estate Settlement Procedures Act, fRegulati'on ), that are required for loans secured by the Property or if, as a result, the other debt would become subject to Section 670 of the Jon Warner National Defense Authorization Act for Fiscal Year 200L The line of credit is not secured by a previously executed security instrument if Lender fails to fulfill any necessary requirements or fails to conform to any limitations of the Truth in Lending Act, (Regulation Z), that are required -for loans secured by the Property. 54 PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due andin accordance with the terms of the Secured Debts and this Security Instrument I WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate convoyed by this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust, with power of sale,. Grantor also warrants that the Property Is unencumbered� except for encumbrances of record B. PRIOR SECURITY INTERESTS, With regard to any other mortgage, deed' of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Grantor agrees; A, To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Grantor receives from the holder, Brett E Russell Colorado Coed or Trust CO/4BF4MCCUL.O0000000001$5B02809041 ON Wolters 'Kluwer Flnnncial Sentieei t, Bats 2018 8il,nlbers Sy arna ki Page 2 4430260 09/12/2018 08.05 AM Page 6 of 7 rate that applies to the Secured Debts. This insurance may include lesser or greater coveragesthan originally required of Grantor, tray be written by a company other than one Grantor would choose, and may be written at a higher rate than Grantor could obtain if Grantor purchased the insurance. Grantor acknowledges and agrees that Lender or one of Lender's affiliates may receive commissions on the purchase cf this insurance, 22. ESCROW FOR TAXES AND INSURANCE. Grantor will not be required to pay to Lender funds for taxes and insurance in escrow. 23, WAIVERS. Except to the extent prohibited by law, Grantor waives all appraisement and homestead exemption rights relating to the Property. 24,OTHER TERMS.. The following are .applicable to this Security Instrument: A. Line of Credit. The Secured Debts include a revolving line of credit provision. Although the Secured Debts may, be reduced to a zero balance, this Security instrument will remain in effect until the Secured Debts and all underlying agreements have been terminated inwriting by tender, B. No Action by Lender. Nothing contained in this Security Instrument shall require Lender to take any action. 25. APPLICABLE LAW. This Security Instrument is governed by the laws of Colorado, the United States of America, and to the extent required, by the laws of the jurisdiction where the Property is located, except to the extent such slate laws are preempted by federal law. 26. JOINT AND 1NDIV1DUAL LIABILITY AND SUCCESSORS. Each Grantor's obligations under this Security Instrument are independent of the obligations of any other Grantor, Lender may sue each Grantor individually or together with any other Grantor. Lender may release any part of the Property and Grantor will still be obligated under this Security Instrument for the remaining Property. Grantor agrees that Lender and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Grantor's consent. Such a change will not release Grantor from the terms of this Security instrument. The duties end: benefits of this Security Instrument will bind and benefit the successors and assigns of Lender and Grantor.. 27. AMENDMENT, INTEGRATION AND SE 'ERASILIT . This Security Instrument may not be amended or modified by oral agreement. No amendment or modification of this Security Instrument is effective unless made in writing. This Security Instrument and any other documents relating to the Secured Debts are the complete and final expression of the agreement If any provision of this Security instrument is unenforceable, then the unenforceable provision will be severed and the remaining provisions will still be enforceable. 2g. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The section headings are for convenience only and are not to be used to interpret or define the terms of this Security instrument.. 29, NOTICE, ADDITIONAL DOCUMENTS AND RECORDING FEES. Unless otherwise required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one Grantor wilt be deemed to be notice to all Grantors. Grantor will inform Lender in writing of any change in Grantor's name, address or other application information, Grantor will provide Lender any other, correct and complete information Lender requests to effectively mortgage or convey the Property. Grantor agrees to pay all expenses, charges and taxes in connection with the preparation and recording of this Security Instrument. Grantor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and to confirm Leader's lien status on any Property, and Grantor agrees to pay ail expenses, charges and taxes in connection with the preparation and recording thereof. Time is of the essence. Brett B Rusnli Colorado Dad 01 Trull COMer4 MCCULL0000Q0 0016580 28 D204I au WOI;a19 Kluwer Financial Services''ISSed 26 1 B 9ankss 'Systems®° Pays a TO: FIRST GUARANTEE TITLE, LLC 12600 WEST COLFAX AVENUE, SUITE 17O 4 LAKEWOOD, COLORADO 80215 (303) 456-1746 - (303) 431 265 (FAX) Lott PROPERTY REPORT Mark Bowman Colson., Inc, Certification Date: October 8, 2018 at 7:45 a.m. Address: Ownership Doe Type: Encumbrances 4881 Avery Court, Erie, CO 80516. LOT 2, LONGS PEAK ESTATES P.Q.D., COUNTY OF WELD, STATE OF COLORADO. KS Enterprises, LLC Warranty Deed recorded April 20, 2018 at Reception No. 4392533. A Deed of Trust dated April 17, 2018 from KS Enterprises, LLC to the Public Trustee of Weld County for the benefit of Great Western Bank, to secure the sum of $280,000.00 recorded April 20, 2018 at Reception No. 4392534. Note: Assignment of Rents recorded April 20, 2018 at Reception No. 4392535. NO REPRESENTATION IS MADE NOR IMPLIED AS TO THE COMPLETENESS, VALIDITY OR THE LEGAL SUFFICIENCY OF SUCHP I CU LENT , NOR HAVE SUCH DOCUMENTS BEEN EXAMINED TO DETERMINE NETHER OR NOT THEME ARE ANY EXCEPTIONS, RESERVATIONS, ENCUMBRANCES OR THER MATTERS WHICH MIGHT BE DETRIMENTAL TO TITLE. NO SEARCH RAS BEEN MADE FOR ANY PRIOR REST ` ON S, COVENANTS, EASEMENTS, RIGHTS F WAY, IF ANY RECORDED PRIOR TO TINE COMMENCEMENT OF THIS SEARCH. THIS REPORT DOES NOT CONSTITUTE A TITLE INSURANCE BINDER VW IS GIVEN FOR INFORMATIONAL NAL PU '' USES ONLY. THE LIABILITY OF FIRST GUARANTEE TITLE, LLC FOR ANY ERRORS OR OMISSIONS TN T INFORMATION PROVIDED IS LIMITED TO THE AMOUNT PAID F R THIS REPORT. MAXIMUMLIABILITY IS FURTHER LIMITED TO OUR CUSTOMER. MER. THERE IS EXPRESSED OR IMPLIED WARRANTIES THAT THIS REPORT IS RELIABLE FOR TITLE INFORMATION AND, THEREFORE, � HOULD BE VERIFFED BY A COMMITMENT FOR TITL E IN St. _ R E. 4392533 04/20/20 18 1O148 AM Total Pages: 1 Rec Fee: $113.00 Doe Fee: $40.00 Carly Koppes Clerk and Recorder, Weld County, CO WARRANTY DEED THIS DEED, Made this 17th. day of April, 2418, tetweon Colson, Inc., of the County of Weld, State. of Colorado, g'atitor, and Iaa Enterprises, Li,C, whose legal address is 1384 Reliance Court`Erie, CO 86516,. grantee: TNE SET=H, That the grantor for and in consideration of the sum of (5400,000.00) Four unwired Thousand and 00/100 Dollars, the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm, unto the grantee, his or he.r heirs and assigns forever, all the real property together with, improvements, if any, situate, lying and being in the County of Weld and State of Colorado described as follows: LOT 2, LONGS PEAK ESTATES PsUaf•1, COUNTY OF WELD, STATE OF COLORADO. As lawwrn by street and number as: 4881 Avery Court, Erie, CO 80516 TOGETUVER with all and singular the heredita rents and appurtenances Thereto belonging, 'DI in anywise appertainixkg, and the reversion and reversions, r i ainder and remainders, rents, issues and profits thereof, and all the estate, right title, interest, claim and dzmand whatsoever of the pra tor, either in iew or equity, of, in and to the above bargained prexnises, with the bereditarnents and appurtenances TO HAVE MN]) TO 11O14D the said premises above bargained and described, with The appurtenances, tarito the grantee, his heirs and assigns forever. And the grantor, for itself, its heirs, and personal representatives, does covenants,grant,, bargain„ and agree to and with the`antee.r his or her heirs, and: assigns, that at the time of the ensealing and delivery of these presents, the mentor is well seized ofthe premises above conveyed, has good, ,sure, perfect, absolute and indefeasible estate of inheritance,, in law, in fee simple, and has good right, full power and lawful, authority to grant, bargain, sell and convey the same in manner and forms as aforesaid,, arid that the same are freeamid clear from all former axlid ?other grants, bargains. sales, bens, taxes, assessments, encumbrances anti restrictions of whatever kind or nature sever, except general taxes for the year 2013 and subsequent years; and those specific exceptions described by reference to recorded documents as reflected in the Title Documents accepted by Grantee(s) in accordance with Section 8.2 ecord Title) of the Contract to Buy lind Sell Real Estate relating to the above described property; distribution utility easements (including cable TV); those specifically des eritned fights o,l� thlrd parties not shown by the public records of which Grantee has actual knowledge and which were accepted byGrantee(s) inaccordance with Section L3 (Off -Record Title) and Section 9 (New TLC or Survey) of the Contract to Buy and Sell Real Estate relating to the above - described rent property; inclusion of the property within any special taxing district; and any special a ssscsment if the improvements were not installed as of the date of Grantee's tee's signature oa the Contract to. Buy and Sell Real Estate relating to the above -described rent property, whether assessed prior to or alter closing. The grantor sh al l and will WARRANT AND FO ER DEFEND the above -bargained premises .in the quiet and peaceable possession of the grantee, his or her heirs and assigns„ against all and every person or persons lawfully al aiming the whole or any part thereof. The singular number shall include the plural), the plural the sin ular, and the use of any gender shall be applicable to all genders. IN WITNESS WHEREOF, the to has executed this deed on the: date set forth above._ Colson, Inc. By. t' ,Ic Bowman., Pros .d ent STA'lt E OF COLORADO COUNTY OF WELD the fare-gc'in.g instrument was acknowledged bafore me this 17th day of April:, 2018, by Mark .Bowman as President of Colson,,. bier Witness my baud and official ial :s. My Commission Expires: ife xi* ere len/ Nom Public rvirCHAEL A 13+SR1ELL Notary Public State of Colorado Notary ID 20011403 7233 4392534 04/2012018 10-48 AM Total Pages: 7 Rec Fee:- $43.00 Carly Koppes - Clerk and Recorder, eFd County CO RECORDATION REQUESTED BY; GREAT VVESTERIN BANK Lafayette Si 1' S.. Public Road Lafayette. CO 80026 WHEN RECORDED MAIL TO: GREAT WESTERN SANK Lafayette Ell S. Public Road Lafayette. cO $0026 SEND TAX NOTICES TO: GREAT WESTERN BANK Lafayette 811 S. Public Road Lafayette CO 90028 FOR RECORDER S USE 01412%' i I i i i i i i i i li DEED OF TRUST MAXIMUM PRINCIPAL AMOUNT SECURED- The Lien of this Deed of TS -UST shalt not exceed at any one time $280,000.00 except as allowed under applicable Colorado law THIS DEED OF TRUST is dated April 1T" 2018, among KS Enterprises. L.LCI a Colorado limited liability, whose address is 1384 Reliance Court. Erie. CO 80516 ("Grantor"); GREAT WESTERN BANK, whose address is Lafayette.. 811 Si Public Road, Lafayette, CO 80026 (referred to below sometimes as "Lender'" and sometimes as "Beneficiary"): and the Public Trustee of Weld County, Colorado (referred to below as "Trustee"' la CONVEYANCE AND GRANT. For valuable consideration, Grantor hereby irrevocably grants, transfers and assigns to Trustee for the benefit of Lender as Beneficiary all of Grantors right, tixic, end interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, Improvements and fixtures; rill easements, rights of way, rind appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrioet:ion rights); and all other rights, royalties, and prnfits reining to the real property, inaludiryg 'without limitation ell minerals, oil, nay., oeothsrmel end simll:er matters, (the "Real Property") recated in Weld County. State of Colorado: LOT 2, LONGS PEAK ESTATES PAID., COUNTY OF WELD, STATE OP COLORADO. The Real Property or its address iscommonly known as 4881 Avery Court, Erie. CO 80516 Grentor presently assigns to Lender ( isc' known ae Sensflciary In this Deed of Trust) all at Grantor's right. title. end interest in and to all pro&ent and future leases of the Property, and ell Rents from the Property_ In addidcn, Grantor grants to Lender a Uniform Commercial Code security interest ]n the Personal Property and Rents. THIS DEED OF TRUST. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY. IS GIVEN TO SECURE CA) PAYMENT OF T -IL iNDtUTL.DNES a AND (B) PERFORMANCE OF ANY AND ALL ORLiGATIDNS UNDER THE leOTEr THE RELATED DOrLMENTS. AND THIS (DEED or TRUST. THis DEED or TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: GRANTOR'S REPRESENTATIONS AND WARRANTIES, Grantor warrants that: 4a) this Deed of Trust ins executed at Borrower's request and not at the request of Londa.r; (b3 Qrentcr has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the Property (c) the provisions of this- Deed of Trust do not conflict with, or result in a default under arty agreement or other instrument binding upon Grantor and do not result in a vaalatron of any haw, rsguletronr noun decree air order applicable to Grantor; (d) Grantor has established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition: and (e) Lender has made no representation to Grantor about Borrower (including without limitation the creditworthiness of Borrower) .. GRANTOR'S WAIVERS. Grantor welves, all rights or defenses arising by reason ei any "one sptron." or "anti -deficiency' law, or any other few Which may prevent Lender frOrr bringing any action against Grantor,, including a claim for deficiency to the extent Lender Ps otherwise endtled to a chiirn for deficiency,, before or sitar Lender's cemmencernent or oanpl;efbon of any foreclosure action, either Judicially or by exercise of a power of saLe. PAYMENT AND PERFORMANCE. Except as ©there+ ise provided in this Deed of Trust, Borrower shall pay t© Lander ail Indebtedness assured by this Deed of Trust es it her a:n-res due. and Borrower and Grantor shall perform all their respective obligations under the Note, this Deed of Trust, and the Related Documents. POSSESSION AND DAAINTEI''GANCE OF THE PROPERTY. Borrower and Grantor agree that Borrower's and Grantor's po,sassion and us3 of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event at Dc atilt, Grantor may (1) rorneln in possession and control of they Property; () use, operate or manage the Prep!erty; and (3) collect the Rents from the Property. Duty to Maintain. Grantor shall maintain the Property In tenantable condition and promptly perform all repairs, repgacernent:s. and maintenance necessary to preserve its value, Compliance With Environmental Laws. Grantor represents and warrants to Lender that; CI During the period of Grantor's t wrrnerahip of the Property, there hes been no use, generation, manufacture, storage, treatment, disposals release or threatened rainasa of any Hazardous Substance by any, person on, under~ about or from the Property; (2) Grantor has no knowledge. of, or reason to believe that there hat been. except as. previously diecluu ed to and acknowledged by Lender in writing, (a) eny breech or violation of any Environmental Laws, (b) any uses generation, manufacture, storage, treatment, disposal, release or threatened release of any, Hazardous Substanceon, under, about or 'from the Property by any prior owners or oecupants of rha Property, ur (c) any actual or threatened litigation or claims of any kind by. any person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in wr'iling. Caj neither Grantor nor e,ny tenant oentractor, agent or Qtler authorized user of the Property, shall use, generate, manufacturer store, treat, dispose of or release any Hazardous Substance ono under, about or from the Property; and (b) any stitch activity shall be conducted in compliance with all applicable fede:ralr stated and local laws. regulations and ordinances, including without limitation all Environrnentei Laws. Grantor authorizes Lender and its agents to enter upon the Fropertyr tc make such inspections end testa, at Grantor's expense! as Lender may deem appropriate to 4392534 04/20I2018 10:48 AM Page 2 of 7 DEED OF TRUST ontinued) Palle determine compliance of the Prc.pcny with this section of the Deed af Trust. Any Inspections or tests made by Lender shall be for Lender's purposes only and shall not he construed to create any responsibility or liability on the part of Lender to Grantor or to any other person„ The representations and warranties contained herein ere based on Grantor's due diligence in investigating tha Property for Hazardous Substances, Grantor hereby 11) releases and waives any future claims against Lander for indemnity or centrlbutlon in the event Grantor becomes iiebte for cleanup or other costs under any such Jaws; and 42) agrees to indemnity, defend, and held i arrrtlsas Lender against enyr and all claims, losses liabilities. damages, ,penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of env use, gen®ratlon, manufacture, .storage, disposet, release or threatened release occurring prior to Grantor's ownership or interest In the Property, Whether or riot the same was or should have bean known to Grantor. The pravisfons of this section of the Deed of Trust, Including the obligation to indemnify and defend, shall survive this p ryrnnnt of the Indebtedness and the satisfaction anti recorrvey,ance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any Ir,tnrest in the Property, whether by foreclosure or otherwise. Nuisance, Waste. Urentor shall, not cause, conduct or permit any nuisance ry•or commit, permit, or suffer any stripping of or waste on or to the Property or any portion of the Pra•purt.yp. Without limiting tha generality of the foregoing, Grantor will not remover or grant to any other party the right to remove, any timber, minerals (including oil and ges)t cO91, clay, scoria, soil, pray& or rock products without Lender's prior written ccnsnt. Removal" of Improvements. Grantor ,shall not demolish or remove any Improvements from the Reel Property without Lender's prl:cr written consent. As a condition to the rsmaval of any Improvements,, Lender !nay require Grantor to make arrangements satisfactory to Lender to replace such irnprovements with improvements of at least equal value. Leinclor's Right to Enter. Lender and Lender's agents end representatives may enter upon the Peal, Property at all reescariable times to attend tea Leader's Interests and to Inspect the Real Property' for purposes of Grantor's ccrnpliance with the terms and conditions of this Deed of Trust. Compliance with Governmental Rnquiromant _ Grantor shall promptly comply with all laws, ordinances., and regulations, now or hereafter In effect, of all gosernrpentai authorities applicable to the use or occupancy of the Property, including without limitation. the Americans With Disabilities Act, Grantor may contest in good faith any such law,. ordinance, or regulation and withhold compliance •during any proceeding, including appropriate- eppeela, go long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's Interests in the Property are not jeopardized. Lender may require Grantor to post edequvt® security or a SLJrCirif bond, reasonably satisfactory to Lander, to protect Lender's interest. Duty to Protect Grantor agrees neither to abandon or leave unattended the Property_ Grantor shall do ell other arcs, In addition to those acts set forth above in this section, which from the character end use of the Property are reasonably necessary to protect and present* the Property. DUE ON SALE - CONSENT BY LENDER. Lander may, at Lender's option„ declare immediately due and payable all suits secured by this Deed of Trust upon the sale or transfer. without Lender's prior written consent, of ail or any part of the Reel Property, or any interest in the Real Property_ A 'sale or transfer' means the conveyance at Real Property or any right, title or Interest in the Reel Properly; whether legal, beneficial or equitable,: whether voluntary or involuntary; whether by outright sale, deed, installment aria contract, lend nnr.trect, contract for dead leaselhold Interest with a term greeter than. three (3) years, lease -option contract, or by sale, assignment, or transfer of any benefinial interest In or to arty land trc&t holding title to the Real Property. or by any other method of cornveyarnce of in interest in the Reel Property. if any Grantor is e corporation, partnership or limited liability company, transfer also includes any change In ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company int®rasts, as the nese may be, of such Grantor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by Colorado law. TAXES AND LiLNS. The following previsions relating to the taxes and bens an the Property ar© part of this :Deed of Trusty Payment Grantor shall pay when du,® land in all events prior (including vv''eter and sewed, fines and impositions levied against for work done on or for services rendered or material furnished liens having priority over or equal to the interest of Lender under not due and except as otherwise provided in this Dead of Trust_ to delinquency) all taxes, spacial taxes. assessments. charges Or on account or the Property, and short pay When due ail claims to the Property: Grantor shall maintain the Property free of ail this Deed cif Trust.. exempt for the lien of texas rand assessments 'Right to Content. Grantor may withhold payment of env tax, assessment, or claim in connection with a good faith dispute over the obligation to pay, so long es Lender's interest in tha Property is not jeopardized, It s lien arises or is filed es a result of nonpayment, Grantor shall within fifteen OS) days slier the lien arises or, if a lien is tiled, within fifteen (1 5) days after Grantor has notice of the tiling, seoure the discharge of the lien, or if requested by Lender, deposit with Lender cash or e sufflc1snt corporate surety bond or other security sctistctctory to Lender in .9n amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges that could .acer'ue a result of a forocro.sure or sale under the lien_ In any contest, Grantor shall defend, itself and Lender and shall satisfy any adverse Judgment before- enforcement against the Property. Grantor shell name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment, Grantor shall upon demand furnish to Lender satttsfsatorry evidence of payment of the taxes or aist;n.ssrnents and shall authorize the appropriategovernmental official to delister to Lender et any time a written statement of the tares and assessments against the Property, Notice of Construction, Grantor shall notifyf Lender at least fifteen (1 5) days betore any work is cornrnenoed, any services are turnlshed. or sny materials are suppled to the Property, tf any rTneohanle a Iten, .matreriaimerr'a lien, or other lien could be asserted on eon:ninth of the work, services, or materials. Grantor wail upon request of Lender furnish to Lander advance assurances satisfactory to Lender that Grantor can and s rill pay the cost of such improvements. PROPERTY DAMAGE INSURANCE._ The foilo i'ng provisions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance_ Granter shall procure and maintain policies of fire Insurance with standard extended coverage endorsements on a fair value basis Ice the full insurable value covering all improvements on the Fleet Pr'oper'ty in an amount 'sufficient to avoid application of any coinsurance clause, and with a standard rnartgeoes clause in favor of Lender: Grantor shell also procure and maintain comprehereslvs general liability insurance in such coverage an oulrits as Lender may request with 'Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally. Grantor shall maintain such ether ill U'r•lf rep Including but not lit -rated to hazard, business interruption, and boiler insurance, as Lender may reasonably -require, Policies shall be written in form, amounts, ©overages and basis reasonably acceptable tv Lender end issued by a company or companies reasonably acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of Insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without et leastten CID) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act+ omission or default of Grantor .or any ether person, should the Reel Property he located In an area designated by the Administrator of the Federal Emergency arvianaccer-nent Agency as a special flood hazard area, Grantor agrees to obtain ar-t.d maintain Federal Flood insurance, If available, for the full unpaid principal balance of the loan and. any prior liens .©n the property securing the loan, up to the maximum policy limits set under the National Flvad. Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term nt this loan. Application of Proceed Grericnr shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Grantor falls to do so within -fifteen (I Si days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's election, receive and retain, the proceeds of tiny insurance and apply the proceeds. to the reduction of the 4302534 04/20/2018 10:48 AM Page 6 ,o f 7 DEED OF TRUST 1ontinued) Page 6 waiver of such right ear any other right. A waiver by Lender of a provision of this Deed oil Trust snail not prejudice or constitute a waiver of Lendeer's right otherwise to demand strlet compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender. for any course of dealing between Lender and Grantor,, shell Constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any -future transactions., Whenever the consent of Lender is required under this a Deed of Trust, the granting ref such consent by Lender in any freelance shall not constitute continuing consent to subsequent Instance Where such consent is required and in all oases such consent may be granted or withheld in the sole discretion of Lander.. £everahll1-y_ If a court Of tompeeteet j'urbsdiction finds any provision of this Deed of Trutt to be illegal, Invalid, or unenforceable as to any circumstance, that finding shall not make this offending provision illegal, invalid, or unenforceable es to any ether clrcurnsttat ce. it feasible, the &fending provision shall be considered modified 40 that It becomes legal,. valid and enforceable. if the offending p.rovielen cannot lbe so moditled, It shall be considered deleted from this Deed of Trust. Unless otherwise required by Jaw, the illegality, Invalidity, er une.ntorceabllity of any provision of this tDitied of Trust shall not effect the Iegslity, validity or entar'ceesbility of any other provision ni this Creed of Trust_ uccsaevt>s and Assigns. :Subject to any (imitation etteted in this Dead of Trust on transfer of Grantee's interest, this Deed of Trust shall be binding upon and inure to the benefit of the parties, -their successors and assigns, If ownership of the Property becomes vested In a person other than Grantor, Lender, without no=tice to Gr,, may ay► deal with Grantor's sueceesors, with reference to this Deed of Trust and the indebtedness by way of 'forbearance or extension without releasing Grantor -from the anblioatian.s ot this Deed of Trust or !liability under the indebtedness. Time is of the Essence. Time la of the essence in the performence of this Deed of Trust, Waiver of Hoenesteed Exemption. Granter hereby releases end we &ves all rights and benefits Of the homestead exemption laws of the State of Cn4arade nA: to all: Indebtedness secured by this Deed of Trust_ DEFINITIONS. The tollovvinq capitalized words anoi terms shall have the following! meanings when used in this Deed of Trust, Unless specifically stated to the oontrnery, ®GI referernees to dollar amounts shall mean arrrnounts in lawful' rrieney eft the United' States of America. Words end terms euseicl in the singular shall include the pit. el, and the plural shell include the sl.ngulaar, as the nonte"vt may require. Words and terms not otherwise defined in this Deed of Trust ghat' hove the meanings attributed to such terms in this Uniform Corrertnorcial Code: Beneficiary. The word "Beneficiary" means GREAT WESTERN RANK, and its BILJOCCISSOrS and assigns. Borrower_ The word "Borrower" means KS Enterprises, leLD„. a Colorado limited liability; Randy Kneebons Excavating & Trucking, Ince a Coke -ado corporation; Randall Kneebene: end Amanda Kneebane end Includes ail co-signers and co-reekars signing the Nate and all their successors and assigns. Deed of Trust, The words "'Deed of Trust" (neon this Deed of Trust among Grantor, Lender, end Trustee, and includes without limitation all assignment and security' interest previsioene relating to the Personal Property and bents, ' Default This word "Detasulthl mesas this Default set forth in this Deed of Trust in the section titled "Default". :rtivironnetental Laws. The worths "Eneironerm+arital Leetrewe" mean any and ell sttete, federal and local statutes, regulations and' ordinances relating to the protection of human health or the environment, including without limitation the Coln,pr'ehenesiv'e Environmmsntel 'Responcee, Compensation, and Liability }tact of 1530, as amended, 4.2 U.S.C. Section 9601, et seeq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 90-4-9D (''SARA"), the Diener tious Materials ' Transportation Act, 49 U.S.C. Section 1 801 . et see,.. the Resource Conservation and Recovery Act, 42 U.S-C. Section, 6901, et seg.4 or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of 'Default. The wards "Event of Default" mean any of the events of default set forth In this Deed of Trust in the events ©f default section of this Deed of Trust. Srantor, The word "Grantor" means K5 Enterprises, LLC1 a Cohered°° liability, Guaranty, The word "Guaranty" means the eueraenty fromguarantor, endors..er, surety, or accommodation party to Leander, Including without ea guartntte Of all or part of the Nate. t Hazardous dous Substnneen. The words "Hazardous Substances" .mean materials that, because of their quantity, concentration at physical, chemical qtr Infectious eharecrertstics, may cause or pose a present or potential hazard t© human health or the environment when improperly used, treated, stored& disposed nip eenereted, manufactured, transported or otherwise handled. ,.Thee won"Hazardous Substances"' are eeterd in. their very broadest sense and innIude without limitation any and SI hazardous or toxic substanueas, materiels or waste ne defined by or listed under the Environmental Laws. The term "'Heeerdous Substances" also includes, without limitation" petroleum end petroleumby-products or eny fraction thereof and babee:etas. Improvements. The word "irraproveae^neents" menns all axlstlng and future Improvements, buildings, structures, mobilee homes affixed on the Re& Property, faac litle6, additions, replacements and other construction on the Real Property_ Indebtedness. The word "Indebtedness" means all principal, interest, end attier amounts, coats end expensespayable under the Note or Related Docurn'reerrts, together with ,all renewals of, extensions of, modifications etc eonsoi:idletione of and substitutions for the Note or Related Documents end any smouents expended or advanced by Lender to discharge Grantor's abligeetions or expenses incurred by Trustee or Lender to anforrre Granter's. obligations under this Deer' ot Trust, tueether with Interest on suee}h emaunts e pr'ovieect in this Deed of Trust. Lender, The word "Lender" means GREAT WESTERN BANK, led successors and assigns. Note. The word "Note" means the promissory not© dated April 117, 201a, In the original principal amount of .2$fkrOOO,OO from eQrroweer to Lender, together with all renewals of, extensions of, modifications of. refinancings of., !consolidations of, and substitutions for the promissory novas or agreement The maturity date ot the Note is April 17, 2023. Personal Property. The words 'Personal Property" mean aiP equipment,. fie -turns, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with alit accessions, pasts, and additions to, all replacements of, end all substitutions for, any of such property; end together with all proceeds (Including without limitation all Insurarice proceeds and refunds of premiums) from any sale orlther dispcisitinn of the Property__ Property. The word '"-Propert'y'r collact vely the Real Property and the Personal Property. Real Pteepeerty. The words 'Mani Property" mean the reel property, interests and rights,, as further described in this Deed of Trust. Related Dncurrene .. The words "Related Documents" mean all urcmi;ssor'y notes, credit agreements,. leen agreements, unv iironmsantal agreements, guaranties, security agr°eereentee mcrte eeees. deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents, whether pow or hereafter existing, executed in oonn+ cti©n with the lncialetedr'res,s. Reverts. The word "Rents"- means all pe-eeeet and future cente, r2Vea.e UOas, inc.trnee, issaue,s, royalties, profits,and other benefits derived from the Property. Trustee. The word "Trustee" means the Public Trustee of WeMd County. celor•ado. 4392535 04/20/2018 10:48 AM Total Pages_. 5. Rep Fee:: sat 00 Carly Koppe - Clerk and Recorder, Weld County, Co RECORDATION REQUESTED BY: GREAT WESTERN BANK Lafayette $11Sr Public Roadl Lafayette, CO 80026 WHEN* RECORDED MAIL TO: GREAT WESTERN BANK Lafayette 811 Sr Public Road Lafayette. CO 00026 SEND TAX NOTICES TO; GREAT WESTERN SANK Lafayette 611 S_ Public Road Lafayetztir CO a nn ae fl i I wi i i 1 i i • q i e i FOR RECOflEW1_ 1Lt i • ASSIGNMENT OF RENTS MAXIMUM PRINCIPAL 'AL AMOUNT SECURED. The Lien of this. Assignment shall not exCeilid at any one time $.280,000,00 except as el!Dvtrecd under applicable Colorado Lauer.. THIS ASSIGNMENT OF RENTS dated April 17, 2018, is made and executed between K5 Enterprises. LL•S. a Colorado limited liability, whose address is 1304 Reliance Court, Erie, CO 80516 (referred to below as "Grantor's) and GREAT WESTERN BANK, whose address is 1 8. Public Road, Lafayette, CO 80026 (referred to below as "Lender"). ASSIGNMENT. For valuable considerations Grantor hereby assigns, grants a continuing security interest in„ and conveys to Lender arl of Cranfor's right, title, and interest in and to the Rents from the following described Property located In Weld County State of Colorado: LOT 2, LONGS PEAK ESTATES PALO., COUNTY OF WELD, STATE OF COLORADO. The Property or its address is commonly known as 4881 Avery Court Erie,. CO 80516. THIS ASSIGNMENT iS GIVEN to sccuit (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE CF ANY AND ALL OBLIGATIONS OF BORROWER AND GRANTOR LINDER THE NiOTF, THIS ASSIGNMENT. AND THE RELATED DOCUMENTS, THIS ASSIGNMENT IS G1 1'EN AND ACCEPTED ON THE FOLLOWING TERMSz GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti -deficiency" law, or any other law which may prevent Lender Tram bringing any action against Grantor, Including a claim for deficiency to the vent Lender is otharva i.sin antld d to a claim • for deflc ency', before or attar Lender's churn menceernent or completion of any foreclosure 'Diction, either judicially or by exercise of a power of sale, BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or Inaction Lender takes in connection with this Assignment Borrower assumes the reaporsiblllty fur being and keeping informed about the Property, Borrower vvehwes any decfenwts that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the Property. Borrower sprees to remain liable under the NOW vairh Lender no matter what action Lender takes or tails, to take under this Assignment, PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender rail amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment, Unless and until Lender exer&ises Its right to collect the Pants as provided bellow and so loon' as there is no default under this Assignment, Graretar may remain In possession and control of and operate and manage the Property end collect they Rents, provided that the granting of the right t+a collect three Rents shall ,not constitute Lender% r:on.sent to the se of cash assails₹eras in a bankruptcy proceeding GRANTOR'S REP"RESENTATiONS AND WARRANTIES. Grantor warrants that: Owriership. Grantor i; entitled to receive the Rents free and clear of e,lll rights, loans, Jens, encumbrances, and claims except as disclosed td and acc en tad by Lender in wrlrkln9. Right to Assign. Grantor has the full right, power and authurityto anti* into this Assignment and to assiign and convey the Rents to Lender_ No Prior Assionmerrt. Grantor htiaa not previously assigned or conveyed the Rents to any other person by any instrument nQw tin farce No Further Transfer, Grantor will not sett, assign, encumber, or otherwise dispose of any, of Grantor's rights in the Rents accept as pruvidec4 in this Assignment LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS, Lender shall have the right at any time©, and even though no default shalt have occurred under this Assignment, to ,collect and reecalve the Pi_ants. For this purpose, Lender is hereby given and granted the: following rights, powers and authority: Notice to Tenants:. Lander nay send notices to tiny end all tenants of the Property advising then, of thig Assignment and directing all Rents to be paid directly to Lender or ► ender's agent. Enter the Property. Lender may enter upon and rake possession of the Property;: demand, collect and receive from the tenants or from any other persons liable therefor.,. all of the Rents; Institute and carry on all legal proceedings necessary for the protection of the Property, including such proceedings as may ' be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property. Maintntn the Property. Lender may enter upon the Property to maintain the Property and keep the same In repair; to pay the costs thereof and of ell services of all employees, Including tealr equipment, and of all continuing costs and expenses of maintaining. the Property in proper repair and condition, and also to pay all taxes, as-sessrnatits and water utilities! and the pinsrniledrriS on fire and other insurance affected by Lender can the Property. 439.2535 0412012018 10:48 AM Page 2 of P ASSIGNMENT OF RENTS (Continued) Page 2 Comeliienca with Laws. Lender may duo any and nil things to execute and comply with the laws of the State of Colorado and also all other laws, rules. orders. ordinances and requirements of all other governmental agencies affecting the Property. Lease the Property- Lender may rent or lease the whole or any port of the Property for such term or terms and on such cnnditinns as Lender may deem appropriate, Emptoy Agents. Lender may engage such agent or agents as Lender may deers appropriate, either in len4er's name or in r3rentc,r's name, to runt and manage the Property, including the collection and application of Rents Other Aar. Lender may do ail such other things lane acts with respect to the- Property as Lender may deem appropriate and may not exclusively •end solely in the piece and stead of Grantor and to have ad of he powers of Grantor for the purposes stated above. iylo Requirement to Act. Lender Isbell not be required to du any of the foregoing acts or things, and the fact that Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other npeelfia am or rhino: APPLICATION OF RENTS. All Costs and ti r;penses incurred by Lender In connection with the Property shall be for Grantor's account and Lender may pay such costs and expenses from The Rents. Lender, in its sofa discretion, shali determine the application of nny and Alf Rehts received by k however, any such Rents received by Lender which era not applied to such costs and expenses shall be applied to the Indebtedness. AB expenditures made by Lender under this Ass�grtment end not reimbursed from the Rents shall become a part of the Indebtedness secured by this, Assignment, and shall be p.ayabie pan demand, vIth interest et_ the Note rate from date of expenditure until paid. FULL PERFORMANCE ft Grantor pays all of the Indebtedness when due and otherwise performs ell the ob lfgeti+cns imposed upon Grantor under this Assignment the Notes and the Piciated Documents, Lender shall execute and dellver to Grantor a *suitable satisfaction of this Assignment and eniteble statements of termination of any financing statement on file evidencing Lender's secieritY interest in the Rents and the Property, Any ter.minatiofn fee. required by leer shal'i be paid by Grantor, it permitted by applicable law. LENDERS EXPENDITURES. Ct any action Or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fella to comply with any, provision of this Assignment or any Related Docurnents, including but not limited to grantor's failure to discharge or pay when due any amounts Granter is required to discharge or pay under this A-ssignment or any, Related Documents, Lender on grantor's behalf may (but shall not be obligated to) take any action that Lender deeres apprnpriete,, including but not limited to discharging or paying ell taxes, liens, security interests, enoumbrences end other claims, at any time levied or placed on the Rents or the Prep€rtyr end paylner all costs for insuring, maintaining and preserving the Property. Ali such expsrtdltures incurred or paid by Lender for suors purposes will then beer Interest. sr the rate charged undies?. the Note from the date incurred or paid by Lender in thedate of repayment by Grantor, All such expenses will become a part of the Indebtedness and, et Lender's option, will (A) be payable or demand; (B) be added to the balance ct the Note and be apport'innedd among and be payable with any installment pay'mrents to become due during either U l Vie, term, of any applicable Insurance policy; or 12) the remaining ten -n of the Note: or (C) be treated as a balloon payment which will' be due end payable nr rho Note's maturity. The Assignment also wilt ee,ceure payment of these amounts. Such right shall be in addition to ad other rights and remedies' to whisoh Lender may be entitled upon Default - DEFAULT. Each efts felioeving, at Lender''.s option, shall constitute en Event of Default under this Ass]gr,ment; Payment nadfeult, Borrower fails to make any payment when due under the indebtedness. Other Defaults, narrower or Grantor fairs to comply with or to perform any other term,, obligation, covenant or uondltian contained in this Assignment or in any nr the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other our©ernent between Lender and Borrower or Grantor, Default on Other Payments. Failure ©f Granter," within the time required by this Assignment to make any payment for taxes or Insurance. or any other Payment necessary to prevent thing of or to effect elT t.srge of any lien. Default In Fever of Third Parties. Sorrowe.r or grantor defaults under any loan, extension of credit, security aureernent, purchase or sales agreement, or any other egreenan't, in favor of any other creditor or arson that may materially ait act of ' is y any Borro�sr s or Grantor's property or ab'ilEity to perform their respect;dve cbligattkirrs under this Assignment or any of the Reiated Documents. Fa]se Statements. Any warranty, representation or Statement made or furnished' to Lender by Borrower nr Grantor or on Borrower's or Grantor's bchatt under this As&ignmere or the Related Documents Is false or rn,i&eadirng in any materiel respect, either now or at the time made or furnished or beeermes false or misleading at any time thereafter. Defective Collatnrai2rntion, This Assignment or any, of the Related Documents mane TO be in full force and effect C1ncludingr failure of any collateral document to eremite a valid and perfected security interest or lien) at any time and for any, reason, Death or Insolwenuy, The dissolution or tern tnatlon of Borrower's or Grantee's existence es a going business, the insolvenicy of Borrower or Grantor, the appointment of a receiver for any pert of Borrower's or Grantor's property any, assignment far the benefit of creditors, any type of creditor workout, or the commencement of any proaeedlna under any bankruptcy or insolvency laws by or aae,lnst Borrower or Granter. Creditor or Forfeiture Proceedings. Ccmr encement of foreclosure or forfeiture proceedings, rwhethetr by Judicial proceeding., self-help, repossession or any, other method, by any creditor of Borrower or Grantor or by any governmental agency afa,inst the Hants or any property securing the Indebtedness.. This includes a garnishment of any of Borrowers or Grantor's accounts, including deposit atcounts, with Lender. However, this Event of DefDult shall not apply If there is a good faith dispute by Borrower or 'Grantor as to the valildity or reasonableness of the. claim which is the basis Of the cradltor or forfeiture pre seeding end if Borrower or Grantor glvas Lender written notice of the creditor or ferteaturre proceeding and deposits with Lender monies or e surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sale discretion, es being en adequate reserve or bond for the dispute. Property Demme° or Less. The Property is lost, stolen,. substantially,, damaged, sold, or borrowed against. Events Affecting Guarantor, Any, of the preceding events occurs with respect to ' any goerentor,endorser, surety, or accommodation party, at any of the Indebtedness or any guarantor, endorser, surety, or ®ccornmcd'atrtn party dies or becomes incompetent. or revokes or disputes the validity of, or liability under, any Guaranty of the indebtedness. Adverse Cheese A material edverse nhange occurs in Grantor's financial condition, or Lander believes the prospect of payment or performance of the Indebtedness Is impaired. RIGHTS AND REMEDIES UN iDEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Lender may exercise any, one or more of the following rights and remedies„ in .addition to any other rights or remedies provided by law: Accelerate Indebtedness. Lender shall have the right at els option without notice to Borrower or Grantor to declare the entire I'ndebtedness immediately drape and pay abler Including any prepayment penalty that Bo►rrowur would be required to pay. Collect Rents. Lender shaii have the right, without notice to 2orro+.rv°er or Grantor, to take possession of the Property{ and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lenders cores,, against the Indebtedness,. In furtherance of this right., Lender shell have all the rights pries/Had for in vitae Lender's Right to Receive and Collect Rents Section, above, 'If the Rents ante collected by Lender, then Grantor irrevnceblyP designates Lender as Graetor's attorney-ln-fact to endorse instruments .received En payment thereof In the name of Grantor and to negotiates the tame and collect the proceeds. Payments by tenants Or other users to Lender in response to Lender's defrrand shell satisfy the obligations for which the payments are made, whether or nor any proper grounds for the demand existed. !Lender may, exeraiae its rights under this subparagraph either in person, by ayentr or through a receiver, 4-392535 04/20/2O18 1O'48 Page 4 of 5 ASSIGNMENT OF RENT (Continued) Page 4 the State at Colorado as to all [r debt!`adness secured by this Assignment. Waiver of Flight of Redemption. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY CONTAINED IN THIS ASSIGNMENT, GERANTOH tiffiElaY WAIVES ANY AND ALL 'RIGHTS OF REDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE ON GRANTCR'S BEHALF AND ON BEHALF OF EACH AND EVERY 'PERSON. EXCEPT JUDGMENT CREDITORS OF GRANTOR., AiCCUIRING AN,P1 INTFREST IN OR TITLE 'TO THE PROPERTY SUBSEQUENT TO THE DATE OF TF-IJS ASSIGNMENT, OEPNJTIQNS. The following capitalized words gnd terms shall have the following meanings when used In this Assignment. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words end terms used In the singular shall include the plural, and the plural shall include the singular, as the context may require_ Words end terns not otherwise defined In this Assignment shell have the meanings attributed to such terms in the Uniform Commercial Code: Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may be amended or modified from time to time., together with oil exhibits and schedules attached to this ASSIGNMENT OF RENTS from time to time. Borrower. The wor'J "Eotr©v,Per°" means K5 Enterprises, LLC, a Colorado limited ltiblliky#a Randy Kneebcne E oevszing & Truckinpr Inc_, a Colorado corporation; Randall Kneebone; and Amanda Krisebone- Detauitt_ The word "Default`; means the Default set forth in this Assignment ari the section titled "Default", Event of Default. The words "Event of Default° mean any of the events of default sot forth In thin Assignment in the default sertian of this Assignment. Granter_ TKn word 'Grantor" means K5 EnterprJaee, LLC, a Colorado limited liability. Guaranty, The word "Guarenrty" means the guaranty from guarantor, onicicrscr, surety. or accommodation party to Lender, including without limitation a guaranty of ail or part of the Nate. Indebtedness. The word "Indebteziness"' moans ail prin.clpal, iMerest, and other amounts, tens and 'expenses payable under the t Note or Related Documents. together with all rene.ttirwels at, ox-tansions. of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts axpended or advanced by Lender to discharge Grantor's obligations ur expenacs inourred by Lender to enfnrrxa Grantor's obligations under tlhls ,Assignment, together with Interest an such amounts as provided In this Assignment. ' Lender. The word "Lender" rnzens GREAT WESTERN BANK its successors and assigns_ Note. The word "Nola" mean© the promissory note dated Apritl 17, , 2G1 Rr in the efl ,final principal amount of $280s00O_OO from Borrower to Lender, together with all renewals at, extensions of, rriudItToaticins of., refinancings of, , consolidations of, and substitutions for the promissory note or agreement.. Property:_ This word h'Prnparty" moans all of Grantor"s right, title and interest In and w all the Property as described in the "Assignment" section of this Assignment Related Docur anta:. The words "Related Documents," mann ell prornlitisory notes, credit egreemer'rts, I0en agreements. environmental agreements!, guaranties, security agreements, mortgages, deeds of trust,. security deeds,. collateral imort9egeso and all other Instrurnents, agreements and documents, whether noW or hereafter existing,. executed in connection with the Indebtedness. Rents. The. word "Rents," means all of Grantor's present and future rights, title and Interest in, to arid under any and all present and future leases,lncludLng, without limitation, all renter revenue, income, issues„ royalties, bonuses, no -counts receivable, cash ' or security deposits, advance rentals. profits and proceeds from the Property, end other payments and benefits derived or to be derived from suah leases of even,/ kind and nature, whether due now or later. Including Without limitation Grantor's right to enforce such leases and to receive and collect payment and proceeds thereunder,. THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OP TI-IIS ASSIGNMENT, AND NOT PERSONALLY BUT AS AN AUTHORIZED SIGNER, HAS CAUSED THIS ASSIGNMENT TO BE SIGNED AND EXECUTED ON REH_rQ►LF OF GRANTOR ON APRIL 17, 201C_ GRANTOR.: KS ;ENTERPRRI y S. LLC, A COLORADO LIMITED LIABILITY Randy stir - stir -Amanda liisbillit"If 'Imager of KS Enteirriirlsras, LL: -C. a Colorado omitted ,knbliity /en, Knaehone. NlerAb' r of 4(5 Enterprises. LLC. a Colorado limited TO: FIRST GUARANTEE TTTLE, LLC 1 600 \VEST COLFAX AVENUE, SUITE -170 • LAKEWOOD, COLORADO 80215 (303) 4564 746 - (303) 4314265 (FAX) Lot 3 1 PROPERTY SUMMARY REPORT Mark Bowman Colson, Inc. Certification Date; October 8, 2018 at 7:45 a.m. Address: 2567 Dawn Court, Erie, CO80516. Leo.,.a1. LOT 3, LONGS PEAKESTATES P. .A., COUNTY OF WELD, STATE OF COLORADO. Ownership: Nathan Esparza and Shanna Esparza Doe Type: Warranty Deed recorded October 18, 2Q18 at Reception No. 4439759. EncumbrancesA Deed of Trust dated October 17, 2018 from Nathan Esparza and Sharma Esparza to the Public Trustee of Weld County for the benefit of Elevations Credit Union, to secure the sum of $21500.00 recorded October 18. 20 18 at Reception No. 4439760. • NO REPRESENTATION T. TION IS MADE NOR IMPLIED TO THE. COMPLETENESS, VALIDITY OR THE LEGAL SUFFICIENCY OF SUCH DOCUMENTS, N R HAVE ArslY SUCH DOCUMENTS BEEN EXAMINED TO T)ETE MI fiE WHETHER OR NOT THERE ARE ANY EXCEPTIONS, RESERVATIONS, ENCUMBRANCESOTHER MATTERS LH H MIGHT BE DETRIMENTAL TO TITLE. NO SEARCH HAS BEEN MADE FOR Am? PRIOR RESTRICTIONS, COVENANTS, EASEMENTS, RIGHTS F WAY, IF ANY RECORDED PRIOR TO THE COMMENCEMENT F THIS SEARCH THIS REPORT DOES NOT CONSTITUTE A TITLE INSURANCE HOWER AND IS GIVEN FOR INFORMATIONAL PURPOSES ONLY. TILE LIE I ITT OF FIRST GUARANTEE TITLE, LLC FOR ANY ERRORS OR OMISSIONS IN THE INFORMATION PROVIDED IS LIMITED TO THE AMOUNT PAID FOR THIS REPORT. MAXIMUM LIABILITY IS FURTHER LIMITED TO OUR CUSTOMER. THERE IS x EXPRESSED ED OR IMPLIED ' RI NTIE THAT THIS ..EPO T TS RELIABLE FOR TITLE INFORMATION AND, TILE.'. FORE, H LD BE VERIFIED BY A COMMITMENT FOR TITLE INSURANCE. 4439759 1O/18/2O18 01:35 PM Total Pages: 1 Roc Fee: $131,O Doc Fee $38.75 Carly Koppes Clerk and Recorder Weld County, CO WARRANTY DEED THIS DEED, Mme this 17th day of October, 2018, between Coon, Inc+ of the County of Weld, State of Colorado, gratttO4 and Nathan Esparza and Sharma Esparta, Disjoint tenants with rights of survivorship, whose legal address is 85 Sunshine Circle, Erie, CO 80516, tee_ WITNESSETtli, That the grantor for and in considerationof the sum of (S387,500.00) Three Hundred Eighty -Seven Thousand Five Hundred and 00/100 Dollars, the receipt and sufficiency of vithich is hereby acknowledged, has granted, -bargairrned, sold and conveyed,, and by these resents does ant„ bargain, s+eai, COT1Vey and confirm, unto the grantee, as joint tenants with rights of survivorship, his or bar heirs and. assigns forever,, nu the real propel together with, Improvement} if any, situate, lying and being in the County of Weld and State of Colorado described as follows: LOT 3, LONGS PEAK ESTATES r.u.D., COQ OF WELD,, STATt OF COLDR_ALDOe As known by street and number as; 2567'Dawn Court Erie, CO 80516 TOGETHER with all and singular the hereditarnents and appurtenances thereto belonging,or in anywise appertaining, and th.e reversion and reversions, remehider and remainders,, rents, issues and. profits thereof Find all the estate,, right, title, interest, claim and demand whatsoever of the grantor, either is law or equity, of, in and to the above bargained premises; with the bereditarents and appurtenances. TO HAVE AND TO MOLD the said premises above bargained and described, with the apputenanaess, unto the ;grantee, his heirs and assigns forever. And the grantor, for itself, its heirs, and personal representatives, does covenants,, grant, bargain, and agree to an d with the grantee,his or her heirs, and assigns, that at the time of the ensealing and delivery 'ofthese present, the grantor is well seized: of the premises above conveyed, has good, sure, perfect absolute and indefeasible estate of inheritance, law, j fee simple, and has good right, full power and lawful authority to grant, bArgain, sell and convey the same in. manner and tbrms as aforesaid,, and that the same are tree and clear from all former and other grant,, bargains., satsalesi, liens, taxes, assessments, enoumbmnces and restrictions of whatever kind or nature so e3-_ except general taxes for The year 2018 and subsequent years; and those specific exceptions described by reference to recorded documents as reflected to the Title Documents accepted by Grantee(s) in accordance with Section 82 (Record Title) of the Contract to Buy and Sell Real Estate relating to the above described property; distributi©m utility easements (including cable TV); those specifically described rights of third parties not shown by the public records of'which Grnxitee bias actual knowledge and which were accepted by Grantee(s) in accordance with Section 8.3 (Off -Record Title) and Section 9 (New C or Survey) of the Contract to Buy d Sell Real Estate relating to the above described real property; inclusion of the property within any special taxing district; and any special assessment li tite improvements were not installed as of the date of Grantees signtat©cre on. the Contract to Buy and Sell Real Estate relating to the above -described described real property, whether assessed prior to or after closing. The grantor shall and will WARRANT AND FOREVER DEFEND the above -bargained premises in the. quiet and peaceable possession of the grantee, his or her b ohs and assi gtis, astainst all and every person. or persons lawfully claiming the whole or any part thereof. The singular number shall include the plural, the plural the singular, and the UM of any gender shall be applicable to all gender_ EN WITNESS WHEREOF, the grantor has executed this deed on the date ct forth above. Cols€m, By: (an e a iiis4adatsin Nancy It an, Vice President STATE OF COLORADO COUNTY OF BR.00flED The foregoing instrument was 'acknowledged before rue this 17th day of October., 2618, by Nancy Bowman, as Vice President of Corson, Inc. Witness my hand and official seal. Ni4v Corrimiss3,on Expirts: MICHAEL 4151.) SHELL Noway Pub& - State of Colo racks Notary fD 20074037233 mycomnFT7di# ortalpines Oec 2, 2021 4439760 10/18/2018 01_35 PM Total Pages: 7 Rec Fee: $43 OD Carly Koppes - Clerk and Recorder, Weld County, CO WHEN RECORDED MAIL TO Elevations Credit Union Business Lending PCBox $ 004 Boulder, CO B0301 -90i04 SEND TAX NOTES TO: Nathan Evperza Shanna Est err ,a 85 Sunshine Circle Erie,. CO 2051 6 FOR RECORDER'S USE ONLY /ELEVATIONS CREDIT UNION DEED OF TRUST MAXIMUM PRINCIPAL AMOUNT SECURED. The Lien of this Deed of Trust shall not exceed at any one time $232,500.00 except as alloveead under applicable Colorado levy., THIS DEED OF TRUST is dated October 17, 2018. among Nathan Fsparza„ whose address is 85 Sunshine -Circle, Erie, CO 80516 and Shanna Esparza, whose address is 85 Sunshine Circles Erie, CO SC"T 6 c"crantor") . 'Elevations Credit Union, whose address is Business Lending, PO Box 9004, Boulder, CO 80201-9004 (referred to below sometimes as "Lender" and sometimes as "'Beneficiary") and the Public Trustee of Weld County, Colorado (referred to below as "Trustee". CONVEYANCE AND GRANT. For valuable consideration. Grantor hereby irrevocably grants, transfers and assigns TO Trustee for the benefit of Lender as Pienefiateryt all of Grantor's right, title, and interest in and to the tcilowing described real property, together with all nxlstiFI9 OF subsequently erected or affixed buiid ings, improvements and fixtures; all easements., rights of way, and appurtenances; - all Water. Water rights and ditch rights (including) sunk in utilities with ditch or irrigation ri ht l'; and ell other tights, ftyalt ss. and profits relating to the real property 3nolu ding vvithout limitation all minerals, oil, gas, geothermal and similar maters, (the "Real Properly") located in Weld County, State of Colorado: LOT 3,. LONGS PEAK ESTATES P-U.D., COUNTY OF WELD, STATE OF COLORADO. The Real Property or its address is commonly known as 2567 Dawn at. Erie,. CO 80hit t Grantor presently assigns to Lender Callao known as Beneficiary in this Deed of Tru^t) :alt of Crsntor's right, title, and interest in and to ale present and lure leases of the Property and all Rents thorn the Property. In addi€Font Grantor grants to Lender a uniform Commercial Code security Interest in the Personal Proper and fie . THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF Burrs AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE 1NDERTEDNESS AND cE36 PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS. AND THIS D'E(Eb or t RUST, This DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS PAYDAENT AND PERFORMANCE. Except as otherwise provided In this. Deed of Trust, Grantor shall pay to Lander ell amounts secured by this Deed of Trust es they become due, and shall strictly and in a tirnelyr manner perform ail of Grantor"a obligations under the Note, this: Deed of Trust, and the R&nted Documents. POSSESSION AND MAJNiTENANC OP THE PROPERTY. Grantor agrees that Grantor`s possession and use of the Property shall be governed by the following provisions: Possession and Use. Until time occurrence of an Event of default, Grantor may U i remain in possession and control of the Property;. (.2.) use, operate or manage the Property; and (3i collect the Rents tram the Property - Duty to Maintain. Grantor shall maintain the Property in good condition and promptly perform all repairs► replacements, and maintenance, necessary to prsaar re .Its value_ Compliance With Environmental Laws. Grantor represents mid 'warrants to lender that (1)' During -the period of Grantor's ownership of the PropertyPropertyd there has been no use, generaden, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by shy parson on, under, about or from the Property; (2) Grantor has no knawled:ge of, or reason to believe that. there has been except es previou lyl' disclosed to and acknowledged by Lender in writing, la) any breach or violation of any. Environmental Law, ibl any used gensrationr manufacturer storage, treatment, disposal. release or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property. CDs (PO any actual or threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lander In writ@ng, (a) neither Grantor nor any tenant contractor, agent or other authorized user of the. Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Subster a ore, trader, about or horn the Property; and (b) any such activity shall be conducted in compliance with all applicable federal, suns, and local laws, regulations and ordinances, lrrciudrng without limitation ail Environmental Laws. Grantor authorizes Lender and its agents to enter upon the Property to make .such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust, Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Grantor or to aniv other person. The representations and warranties contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor hereby. (1) releases and waives any future claims against. Lender for Indemnity or contribution in ti -is event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to 1n,der infty, defend, end hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender rnvy directly or indirectly sustain or suffer resulting from a breach of this section of the Gilead of Trust or as a consequence. -of any use-, generation, manufacture, storage, disposal, release or threatened relerse occurring prior to Grantor's ownership or interest In ti're Property, whether or net the same was or should have been known to Grantor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall survive the payment of the Iradet tedness and the satisfaction end rsconveyar`Ace of the lien of this Deed of Trust and shell not be affected by Lender% acquisition of any interest in the Property, whether by foreclosure or otherwise. 4439760 10/18/2018 01:35 PM Page 2 of 7 DEED OF TRUST (Continued) Page 2 Nuisance, Waste.. Grantor shell not cause, conduct ar pe rrreit ;any nuisance nor commit, permit, or G►ufter any stripping of or waste on or to than Property or any portion of the Property. Without limiting the- generality of the toreegcing, Grantor will not remove, or grant to any, other party, the right to remove, any timber:. minerals (including oil and gels),. coal, eleee scoria, soil, gravel or rock products without Lender's prior written consent. Removal of lenprovements. Grantor shall not demolish or remove any Fmprnverne3nte from the Peal Property without Lender's prior written consent, As a condition to the removal of nne.y improvements, Lender may require Grantor to make arrange3rnents satiste5cteeryr to, Lander to replace such heiprovements with Improvements of at least equal value. Lender's Right to Enter. Lender and Lender's aagants and representatives may enter Upon the Real Property at all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's cornpllaricn with the terms and conditions of this Deed of Truest. Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinancee. and regulations, now or hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property. Grantor may contest in good faith any, such law, ordinance,,, or regulation and withheld compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so log as in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require ",'rancor to post ade.qua .e security or a surety bond, reasonably satlsfa.ttor"y to Lender, to protect Lender's interest_ Duty to Protect_ Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do ail other acts, in tadditiOrt TO those amt- set forth above in this semio.n, whfeh from the character and use at the Property are reasonably necessary to protect and preserve the Property. DUE ON SALE CONSENT BY LENDER.. Lender may, at Lenders option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender"s prior written noncan,, of ell or any pan of the shad Property, or any interest in the feet Property. A "'sale ever transfer° means the conveyance of Real Property or any right, titre or rriterect in the Heal Property; whether legal, beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sane centred,. land contract, contract for deed, leasehold interest with a term greater than three 13) years, lease -option contract., or by sale, assignment, or transfer of any beneficial Interest in or to any land true holding ttle to the Reel Property, or by any other method of ccrveyrance of en interest in the Real Property. However., this option shall not be a eeercised by Lender if such exercise k prohibited by federal law or by Colorado law. TAXES AND LIENS. The- following provisions relating to the tans and liens on the Property are part of this Deed of Trust: Payment. Grantor shall pay when due (and in ail e`uaarr'ls prior to delinquency) all taxes, special taxes, eissiassmentst charges (including water and sewer), fines end impositions levied against or on account of the Property,. and shall pee when due all claims for work done on or for services rendered or material furnished to the Property, Grantor shell maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust, oxneopt for the lien of taxes end assessments net due and except es otherwise provided in this Deed of Trust Right to Contest. Grantor may withhold payment err and tax, assessment, Or Sawn in connection with a good faith dispute over the obligation to pay,. so long 8s ILendcr's. interest in the Property is not jeopardized._ It a lien arises or is flied as a result of nenpaaymeent. Grantor shall within fifteen OM days after the lien arises or, if a lien is flied, within fifteen (15) days after Grantor has notice of the Ilikig, secure the discharge of the lien, or it requested by Lender,. deposit with Lender cash or a sufficient corporate surety bond or other see rity satisfactory to Lender in an amount sufficient to discharge the Ran plus any rests and attorneys.' fees, or other charges that could meanie as a result' of e foreclosure or sale under the lien. in any contest, Grantor shell defend itself and Lender and shall satisfy any, adverse judgment before enforcement against the Properly. Grantor shall name Lender es en additional obligee under any surety bend furnished in the contest proceedings= Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence et payment of the taxes or aasrssmente and shall authorize the eppropriete governmental official to deilveet tp Lender at any time a written statement of the taxes and aasessrnents against the Property. Notice of Construction. Grantor shell notify, Lender et least fifteen f i S) days before any wore, Fs commenced, any services are furnished., or any, materials are supplied to the Property, if any mechanics Olen, rn;terislmen.'s lien, or other I3sn could be asserted on account of The work, services, or materials and the cost exceeds $2,500r00_ Grantor will upon request of Lender furnish to Lender advance assurances satisfactory, to Lender that Grantor can and will pay the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part ot this Deed of Trust_ Maintenance of Insurance. Grantor shall procure and maintain policies cI fire insurance with standard extended coverage endorsements on. a fair valu . basis for the full insurable values covering ail lmproverneen,ts on the Real Property in an a rTICIUM weufficiertt to avoid application of any,, coinsurance clause, and with a standard mortgagee clause in favor of Lender. together will-, such other hazard and liability insurance as Lender may reasonably, regUire. Policies shall bs written in faro+,+, amournts, coverages and brads reasonably, acceptable to Lender and issued by a company Or companies reasonably accept.uble to Lender.. Granter, upon request of Lender, will deliver to Lender from Time to time the policies or certificates of insurance in terms safiets cry to Lender, including stipuiatlons that coverages will not be cancelled or climinicheerd without at least thirty, (30) days prior written notice to Lender. Each Insurance policy :::Ise shall include an endorsement prov'iedlns that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person_ Should the Real Property be located in an area designated by the Administrator ct the Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain end maintain Federal Flood Insurencee, if available, for the full unpaid principal balance of the Cron and any prior liens on the property securing the Coen, up to the rn exiernurnr policy limits set Under The National Flood insurance Program, or as othsrrise required by, Lender, and to maintain such insurance for this tearrn of the loan. Application of Proceeds.. Grantor shell promptly notify Lender of any, loss or damage to the Property if the estimated cost of repair or replacement exceec s $1,5.00.00. Lender may make proof of less if Grantor fails to do so Within fifteen, { l5p days of to ca.suualty. Whether or not Lender's security, Es impaired. Lender may., at Lender's election, receive and retain the prncasets o€ any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of the Property, If Lender elects to apply the proceeds to restoration and repair, Grantor shall repair or replace the damaged Or destroyed improvements In a manner satisfactory to Lander. Lender shell., upon satisfactory proof of such expenditure, pay, or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Gr'antnr is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 1 BO days after their receipt and which Lender has not cornrnit ed to the repair or restoration of the Properre shall be used first to pay, any amount owing to Lender under this Deed of Trust, then to pay, accrued interest, and the remainder., if any,.. shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the indebtedness, such proceeds shall be paid to Grantor as Grantor's irateerests may appear. Compliance with Existing Indeabbteeudness. Duringthe period in which any Existing indebtedness described below is in efface, compliance with the insurance provisions €ire ntaineed in the instrument evtderta ng such Existing Indebtedness shall constitute compliance with the insurance provisions under this Deed of Trust, to the ex -Lent compliance With the terms of this Deed of Trust would constitute a duplication of Insurance reequireement. If any proceeds from the insurance become payable won Iris, the provisions in this Deed of Trust for division of proceeds shall apply only to that portion. of the: proceeds not payable to the hulder of the xistir,g Indebtedness. LENDER'S EXPENDITURES. If Grantor fails to keep the Property free of all taxes, liieens, security interests, encumbrances, and 4439760 W/18/2018 01'35 Pt/ Page 6 of 7 DEED OF TRUST (Continued) Page 6 and 'voluntarily Waives any right to a hearing prior to a court order granting Lender the right to take possession of the Property - Grantor waives all rights of exemption from execution or similar levy in the Property, and Grantor agrees that the rights Of Lender in the Property under this Deed of Trust are prior to Grantor's fights while this Deed of Trust remains in effect. Severability. If a court finds that any provision of this Deed of Tn.ast is not valid or should not be enforced, that fact by itself will not mean that the rest at this Deed of Trust will not be valid or enforced, Therefore, a court will enfurce the ref of the provisions of thEs Deed of Trust even if a provision of this Deed of Trust may ha found to be invalid or unenforceable. Succession and Assigns. Subject to any iirri ta.tions. stated in this Deed of Trust on transfer of 0Grentor'-s interest, this Dead of Trust shall be binding upon and inure to the benefit of the parties, their ,suoraessors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lander, without notice to. Grantor, may deal with Grantor's succcss,ors with reference to This Deed of Trust and the indebtedness by way of forbearance or eXtensibn without releasing Grantor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the e,-sone in the performance of this Deed of Trust, Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury litai in any action. proeeding. Q% counterclaim brought by any party -against any other party. Waiver of Homestead Exemption. Grantor hereby releases and waives ell rights end benefits of the harnestead exornption laws at the State of Coloreddo as to all Indebtedness secured by this Deed of Trust. DDEFINITIONS. The following words shall have the following meanings when used in this Dead of Trust: Beneficiary. The word "Beneficiary" means Elevations Credit Union, and its successors and assigns_ Borrower. The word "Borrowers means Nathan Espana and Sharma Espana and includes all co -signets and co -makers signing the Note and all their succors and assigns. Deed of Trust. The words "Deed of Trust" mean tit Deed of Trust arnnng Grantor, Lender, and Trustee, and includes without limitation all assignment and security interest provisions aela₹ing to the Personal Property nnd Rents_ Environmental Laws. The words "Environmental Laws" mean any, ancf all state, federal' and local stettutes, regulations end ordinances relating to the protection of human health or the environment,. including without limitation the Comprehensive Environmental Response, Compensation., end Liability Act. of 1 t'en, es amended, 42 U.S.C. Section 9601, et seq. ("CERCLA")4., the Superfund Amendments and Reauthorization Act of 1986, Pub.. L. No. 99r-a-9.fl (`"SAFcA"")„ the Hazardous Materials Transportation Act, 49 U.S.C_ Section 1801, et ssq. the Re -source Conservation and Recovery Act, 42 U.R.C. Section 6SO1 • et seq-., or other applicable state or federal laws, rules, cr te,uletionss adopted pursuant thereto. Event of Default. The words "Evert of Default's mean any of the Events of default .set forth in this Deed of Trust in the. events of default section of this Deed of Trust, Existing Indebtedness. -Thia words "Existing 'Indebtedness*" mean the in cbteddnr:ss described In the Existing Liens provision of ttlsrs Deed of Trust. Grantor. The word "Grantor" means Nathan Esparta and Sharma Espar a. Guaranty. The word "Guaranty•, means the guaranty from guarantor, endorser, surety, ©r accommodation party to Lender, including without limitation a guaranty of all or part of the Note. Hazardous Substances. The words "Hazardous Substances' mean materiels that, because of theme quantity, c0nc9ntration or physical, chemical or infectious- characteristics, may cause or pose a prsisentt nr potential hazard to human health or the environment when improperly used, treated, stored, disposed of, generated,- manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any grid ail hazardous or toxic substances, materials or waste as defined by or listed under the Environmental LaWs* The term "Hazardous Substances" also includes, twFthcut IirnEtatFon, petroleum and petroleum by-products or any fraction thereof and asbestos.. improvements. The word "Improvements" means all existing and future improvements, buildings, structures, innoblle homes af-117.ced on the Deal P'roperi'q, facilities, additions, replscernents and other construction on the Real Property. Indebtedness. The word 'Indebtedness" means all principal,, interest, end other amounts, oasts and expenses payable under the Note or Related Dnc.urnen'ts, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note. or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Trustee or Lender to enforce Grantor's obligations under this Deed ©f Trust,. together ail th interest on such amounts a≥= provided in this Deed of Trust. Lender. The word "Lender" means Elevations Credit Union, its successors and assigns. The words "successors or assigns" nnan any person or .rriornpery+ that acquires env interest in the Note. Note._ The word "Note"" means the promissory note dated October 17, x018, in the original principal amount of 324.5►00.. 0 from Grantor to Lender, together with ell renewals of, extensions of,, ,'nod-ofioations of, -refinancings of, consolidations of., and substitutions for the promissory note or agreement. NOTICE TO GRANTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE Personal Property. The words "Personal Property" mean all equipment, '9r duress, and other articles c` personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to theFleaJ Property; together with all acoess_iortsJ parts, anid additions- toe all replacements of, and all substitutions fort any c# such property; and together with all proceeds (including without imitation ell insurance proceeds and refunds of pdrerniuMai from any sale or other disposition of the Property. Property_ The word "Property" means collectively the F e& Property and the Personal Property".. Re=el Property+. The words "Reel Property" mean the real property.. interests and rights, as further described in this Deed of Trust. Related Documents. The words "Halsted Documents" mean all promissory notes, credit: agreements, loan agreements, environmental agreements, guarantties, security agreements, mortgages, deeds of trust, security detects,, collateral mortgages, and all other instrurnet'nts, agresrnerlt:s end documents, whether mow or hereafter existing, executed in connection with this Indebtedness. Funds. The word "Rants" means all present and future rents, revenues, Income, issues, royalties, profits, and other benefits derived from the Property, Tru-stee. The word "Trustee" means the Public Trustee of Weld County, Colorado. TO: FIRST GUARANTEE TITLE, LLC 12600 WEST COLFAX AVER, SUITE -170 • LAKEWOOD, COLORADO 80215 (3O 456-1746• (303) 431-1265 (FAX) Lot4 PROPERTY SUMMARY REPORT Mark Bow an Colson, Inc. Certification Date: October 8, 2018 at 7:45 a.m. Address: 2563 Dawn Court, Erie, CO 80 516. Legal: LOT 4, LONGS PEAK ESTATES P.U.D., COUNTY OF WELD, STATE OF COLORADO. Ownership: Theresa Rizzo Brooks Doe Type: Special Warrant Deed recorded March 3, 2017 at Reception No. 4282972. Encumbrances: None. NO REPRESENTATION IS MADE NOR II' IPLIED AS TO THE COMPLETENESS, VALIDITY R THE LEGAL SUFFICIENCY OF SUCH DOCUMENTS, NOR VE ANY SUCH DOCUMENTS BEEN EXAMINE ) TO DETERMINE WHETHER OR NOT THERE ARE ANY EXCEPTIONS, RESERVATIONS, ENCUMBRANCESOR OTHER_ MATTERS CH MIGHT BE DETRIMENTAL TO TITLE. NO SEARCH HAS BEEN MADE FOR Y PRIOR STRICTICOTS, COVENANTS, EASEMENTS, RGHTS OF WAY, IF RECORDE O E PRIOR TO THE COMMENCEMENT OF THIS SEARCH. THIS REPORT OED NOT CONSTITUTE A TITLE INSURANCE BINDER AND IS GIVEN FOR INFORMATIONAL PURPOSES ONLY. THE LIABILITY OF FIRST + UARAINTEE TITLE, L L C FOR ANY ERRORS R OMISSIONS IN T H E INFORMATION PROVIDED IS L _1 TED TO THE AMOUNT PAW FOR THIS REPORT. MAXIMUM LIABILITY IS FURTHER LIMITED TO OUR CUSTOMER. THERE IS O EXPRESSED OR IMPLIED WARRANTIES THAT THIS REPORT IS L LE FOR TITLE INFORMATION AND, THEREFORE, SHOULD BE VERIFIED BY COMMITMENT FOR TITLE INSURANCE. 4282972 03/03/201 ( 11:59 A M Fee: Pages. 1 Rec Fee: $13.00 Doe $32.50 Carly oppes - Clerk and Recorder_ VVeid COunty, CO SPECIAL WARRANTY DEED THIS DEED, made this is 27th day of February, 2017, between Colson Inc.,, of the County of Weld. and State of Colorado, grantor(s), and Theresa lino Brooks, whose legaladdress is 190 Maxwell Circle, Erie., CO 80516, grantee(s): WITNESS, that the grantor(s), for and in consideration of the sum. of (5325,000.00) Three Hundred Twenty - Five Thousand and 001100 Dollars, the receipt and sufficiency of which is hereby acknowledged, has granted., Y batgained., sold snd eouveye and by these presents does grant, bargain, sell, convey and confirm unto the grantee(s), their heirs, successors and assigns iorwwer all the real property, together with improvements, if any,situate, lying and being in the County of Weld and State of Colorado, described as fol]e s: LOT 4, LONGS PEAK ESTATES P.U.L., COUNTY OF WELD. STATE OF COLORADO. &se 'Mown by street and number as: 2563 Dawn Court, Erie, CO 80516. TOGETHER with all and singular the hercditaments and appartenances thereunto belonging, or in anywise appertaining,the reversion and reversions, remainder and remainders, rents, issues and profits, thereof, and all the estate. right, title., interest, claim anddemand whatsoever of the grantor(s), either in law or equity, of, in and to the above bargained premises, with the hered taments and appurtenances; TO SAVE AND TO BOLD the said premises above bargained and describe& with the appurtenances, unto the in s), their heirs, successors and assigns forever. The grantor(s), for itself', its successors and assigrAs, does covenant and agree that it shall and will WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable possession of the grantee(s), to ss, their heirs, successors and assigns, against an and everyr person. or persons cl in g the whole or any part thereof, by, through or under the grantor®, except general taxes for the year 2017 and subsequent years; and those specific exceptions desetihed by reference to recorded documents as reflected is the Title Documents accepted by Grant s) in. accordance with Section X8.2 (Record Title) of the Contract to Day and Sell Real Estate relating to the above described property; distribution utility easements (including cable TV); These specifically described rights of third parties not shown by the public records of which Grantee has actual knowledge and which were accepte.dby Grantee(s) in accordance with Section 8.3 (O =Record Title) and Section 9 (New !LC or survey) of the Contract to Buy and Sell Real Emote relating to the above -described real property; inclusion of the property within any specialtaring district; and any special assessment if the improvements were iwt installed as of the date of Grantee's signature oa the Contract to miry and Sell Real Estate relating to the above -described real property, wit ether assessed prior to or after closing. IN WITNESS SS WHEREOF,. the grantor(s) has executed this deed on the date set: forth above. Colson Inc. Pletarl.4.-c-eaCes4 RK B OWM 1 , PRESIDENT STATE OF COLORADO County of Jcflerson The foregoing instrument was acknowledged before me tbig 27th day of February, 2017, by Mark 'Bowman, as President of Colson . n .. tr MICHAEL A. BL?$ -JELL NOTARY PUBLIC s xTg OF COLORADO NOTARY' ID # 2OG1aD3T233 15f ccrAM iSSIOt4cxFIRES ©ECEiM beR CZ. 2Q17 Witness my band and official seal. My commission expires: if 2 rtot 7 Nom Public Name aacl Ad dt t .[Pc&sun Curading Newly meted i.. 1 Description (f3S -35-4 tic:►.5, '_R$.) SPECIAL IWARRACCY tiEtt,fi T: FIRST GuAR NTEE TITLE, LLC 12600 WEST C0LFAX AVENUE, SUITEA-170 0 • LAW OD, COLORADO 80215 (303) 456-1746 ' (303) 4.31-1265 (FAX) Lot 5 PROPERTY S UNINLILRYREPORT Mark Bowman Colson, inc. Certification Date: October 8, 2018 at 7:45 a.ni. Address: 2559 Dawn Court, Erie, CO 80516. LJenai: LOT 5, LONGS PEAK ESTATES FJLD , COUNTY OF WELD, STATE OF COLORADO. OW nershNp: 'Doc Type: Encumbrances: Brian Hempel:rnann and Antoneila Hempelmann Warranty Deed recorded May 29, 2018 at Reception No. 4402680. A Construction Deed of Trust dated June 15, 2018 from Brian Hempelmanuand Antouella Hemp lmann to the Pub& Public Trustee of Weld County for the benefit of Bank of Colorado, to secure the .sUm of 5595,6 0.OO recorded June 15, 201.8 at Reception No. 4407609. Note: Disburser's Notice recorded June 15, 2018 at Reception No. 4407610. NO REPRESENTATION IS MADE NOR IMPLIED AS TO THE CO . I' LETS TE S, VALIDITY OR THE LEGAL SUFFICIENCY OF SUCH DOCUMENTS, NOR HAVE ANY SUCH DOCUMENTS BEEN EXAMINED TO DETERMINE WHETHER OR OT THERE ARE Y EXCEPTIONS, RESERATION , ENCUMBRANCES OR OTHER MATTERS WHICH MIGHT BE DETRIMENTAL TO TITLE. NO SEARCH HAS BEEN MADE FOR ANY PRIOR RESTRICTIONS, COVENANTS, EASEMENTS, RIGHTS OF WAY, IF ANY RECORDED PRIOR TO THE COMMENCEMENT OF THIS SEARCH. THIS REPORT DOES NOTCONSTITUTE A TITLE INSURANCE BINDER AND IS GIVEN FOR INFORMATIONAL PURPOSES ONLY. THE LIABILITY OF FIRST GUARANTEE TITLE, LLC FOR ANY ERRORS OR OMISSIONS IN THE INFORMATION PROVIDED IS LIMITED TO THE AMOUNT NT iR Ail FOR THIS REPORT. matuamum LIABILITY is FURTHER ER LIMITED TO OUR U TOMER THERE IS NO EXPRESSED OR IMPLIED WARRANTIES THAT THIS REPORT IS RELIABLE FOR TITLE INFORMATION AND, THEREFORE,. SHOULD BE VERIFIED BY A COMMITMENT FOR TITLE INSURANCE. 4402680 05/29/2019 03:04 PM Total Pages: 1 Rec Fee: $13.00 Doc Fee. $37_50 Carty Koppes - Clerk and R_ecor-dei, Weld County, CO WARRANTY DEED T I DEED, Made this 22nd day of May, 201S, he tc n Colson, ac., of the County of Weld, State of Colorado, meter, and Brian H- ape nann and Antonella Hlcn]pclmanu, as joint tenants with rihts obsurvivorship, whose legal address- is _ . q' I t '' ` _ _ R/`e grantee: WITNESSETH, That the grantor for and in consideration ofthe sum of( 75,000.00) Three Hundred Seventy -Five Thousand and 00/"1(0 Dollars, the receipt and sufficiency of which is herby acl towledgcd, has oranted, bargained, sold and eonveryed, and by these presents does grant, bargain, sell, convey and confirm, unto the grantee, as joint tenants with rights of survivorship, his or her heirs and assigns forever, all the rei31 property together with improvements, if any, site„ lying and being in the County of Weld and State of Colorado scribed as follows: LOT 5, LONGS PEAK ESTATES .!E ■U.D,,. COUNTY OF WELD, STATE OF COLORADO. As known by greet and number as: 1559 Dawn Court, Erie, CO SI.J5i 6 TOGETHER with all and singular the heredity ens and appurtenances thereto belonging,, or in anywise appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the grantor„ either in law or equity, of in and to the above bargained premises, With the hereditament; and appurtenances. TO HAVE ANI3 TO JBOLD) the said pre4rniseis above bargained and described, with the appurtenances. I'n'to the grantee, iris heirs and assigns forever_ And the grantor, for itself, its heirs, and personal representatives, does covenants, grata, bargain iand wee to ancl, with file.: _r. antee, his or her heirs, and , assi, that at the time of the ensealing and delivery of these presents, the grantor is well sized ofthe premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right full power and lawful authority to grant,, bargain, sell and convey the same in manner and forms as aforesaid, and that the same arc free and clear from all former and other grants, bargains, sales, liens, taxes, assessments, encumbrances and restrictions of wlwtcver kind or not Ire scover- except genera C taxes for the year 2018 and subsequent years; and those specific exceptions described by reference to recorded documents as reflected in. the Title Documents accepted by Grantee(s) in accordance with Section S-2 (Record Title) of the Contract to Buy and Sell Real Estate relating to the above described property; distribution utility easements (including cable T); those specifically described rights of third partial not shown by the public records of which Grantee has actual knowledge and which were accepted by Gract (s) in accordance with Section:I-3 (Off -Record Title) and Section . (New ILC or Surrey) of the Contract to Buy and Sell Real Estate relating to the above - described real property; inclusion of the property within any specialtaxing district; and any special assessment if the improvements were not installed as of the date of Grantee's signature on the Contract to Buy and Sell Real Estate relating to the above -described real property, whether assessed prior to or after closing. The grantor shall and will WARRANT AND FOREVER DEFEND the above -bargained premises in the quiet and peace rte possession of the grantee, his or her heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof The singular number shalt include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. IN WITNESS MerifEREOF, the grantor has executed this deed on the date set forth above. Colson,, Inc. :' a rk Bowman, President STATE OF COLORstaiDO COUNTY OF BROOMFIELD The foregoing instrument was acknowiedged before me this 22nd day of May, 211185 by Mark Bow -maul President of Colson, knew Witness my hand and official seal. My Commission Expires: Notary Public: missaastassaahassimai I MICHAEL A BUS HELL 4 Notary P. biic— state of Col al radio Notary ID 20O14O37233 My Car -emission Expires Dec. i, 2021 T.#.4rieraotir 4401609 06/15/2018 02:29 PM Total Pages: I ['lac Fee: $43.00 Carly ' appes - Clerk and Recorder, Weld County, CO RECORDATION REQUESTED BY: Bank of Colorado Greeley 3459 W 2Oth Street, Suite 114 Greeley, CO SQcS WHEN RECORDED MAIL TO: B.enk of Colorado Greeley 3459 W 2Oth Street, Suite 1 14 Greeley, CO 80634 FOR RECORDER'S US€ ONLY CONSTRUCTION DEED OF TRUST MAXIMUM PRIINCI,PAL AMOUNT SECURED. The Hen of this Deed of Trust shall not exceed at any One time f 595,68O..OO except as allowed under applicable Colorado law., THIS DEED OF TRUST is dated June 15, 2018, among Brian Her ipeirnaan, whose address is 3005 W 1 1 1 th Pi, Westminster, CO 8OO31 and Antonella Hempe[mann. whose address is 3OO5 1 1 I 1th, PI, 'Westminster, CO 8OO31 ("Grantor"); Bank of Colorado, whose address as Greeley, 3459 W 2Oth Streets Suite 114, Greeley, CO 80634 (referred to below sometimes as Lender and sometimes as "Beneficiary",) and the Public Trustee of Weld County,. Colorado [referred to below as "Trustee"). CONVEYANCE AND GRANT, For valuable consideration, Grantor hereby irrevocably grants, transfers and assi jn.s to Trustee for the benefit of Lender as aon€atciary► all of Grantor's right, titter and interest in and to the folli win described real property, together wrth all existing or subsequently erected or affixed buildings, improvements andfixtures: ell easements, tights of way, and appurtenances; all Water, water rights and ditch rights (including stock In utlliti with ditch or irrigation rights): and ail other rights, royalties., and profits relating to the real property„ including without limitation all minerals, oil, ga.s,F geothermal and similar matters. (the miletti Property") located in Weld County, State of Colorado: Lot 5, Longs Peak Estates P.U.D.J County of Weld, State of Colorado. The Real Property or its address is commonly, known as 2559 Dawn et, €.de.CO 8O516. Grantor presently, assigns to Lender (also known es 'Beneficiary in this Deed of Trust) ail of Grantor's right title, and interest in and to elf present and future leases of the Property, and all Rents from the Property. in addition,. Grantor grants to Lender a Uniform Crammer -alai Coda security interest in the Personal Property, and Rents. ThIS DEED OF TRUST. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST iN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (Al PAYMENT OF THE INDEBTEDNESS AND (6) PERPORrviANCE OF ANY AND- ALL OBLIGATIONS UNDER THE NOTES THE RELATED DOCUMENTS, AND THIS DEED Oic TRUST. THIS DEED OF TRUST. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF CR.ANTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEI IENt BETWEEN GRANTOR AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT,. OR ANY OF THE RELATED DCGUrv1ENTS RePrieREO TO THEREIN, SHALL ALSO ESE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST, THIS IDFEb OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS; PAYME tT AND r'ERFOR LANCE, Except as otherwvise provided in this Deed ct Trust, Grantor shall pay to Lender all amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner pe=rform all of Grantor's. obligations- under the Note, this Deed of Trust, and the Related Documents. CONST'RUCTl0N MORTGAGE. Tlhis Deed of Trust is a "censtrUction mortgage" for the purposes ,of' Sections 9434 end 2A-309 nt the Uniform Commercial Code, as than sections have been adopted by the State of Colorado POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property Shall be governed by the following provision*: Possession and Use.- Until the occurrence of an Event of Default, Grantor may COremain in possession end control of the Property; (2) use, operate or manage the 'Property and, 43) collect the Rents from the Property_ Duty, to Maintain. Grantor shall maintain the Property, in wood condition and promptly perform all repairs, repIacern-ants., and maintenance necessary to preserve its, value. Compliance With Environmental Laws. Grantor represents and warrants to Lender that, 1 During the period of Granter's ownership nt the Property, there has been no use,. generation, manufacture, storage, treatment, disposal, release- or threatened release ®f any Ha; erdeus Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of. or reason to bshieve that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any, breach Dr violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any, Hazardous Substance nn, under. about or from the Property, by any prior owners ur occupants of the Proper,., or (c) any, actual or threatened litigation or claims of any, kind by any parson relating to such natters: and (3) Except as previously disclosed to and acknowle-dged by Lender in writing, (al neither Grantor nor any torrent, contractor., agent or other authorized eser of the Property shall use, generate, manufacture, store, treat, dispose of or release any, Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances. including without limitation ell Environmental Laws, Grantor etsthorlrss Lender and Its agents to enter upon tee Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests ,rude by Lender shall be for Lencier'e purposes only and stall not be construed to create any responsibility or liability on the pan of Lender to Grantor or to any other person. The representations and warranties contained herein are based on Grantor's due diligence in investigating the Property, far Hazardous Substances_ Grantor hereby (1) releases and waives any, future claims against Lander for indemnity or contribution in the event Grantor becomes liable for ,cleanup or other uoets under any such laws; and 421 agrees to indemnify, defend, and. hold harmless Lender against' any and nil claims, losses, liabilities, damages., penalties:, and expenses which Lender may, directly or irndfremlyaF sustain or suffer resulting trorn a breach of this section of the Deed of Trust or as a consequence apt any use., generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor"s ownership or interest in the Proper . whether or not the same was or should have been known to Granter. The pfot►isions of this section of the Deed of Trust, i�ncIudine the obligation to indemnify and defend, shall survive the payment of the Indebtedness and the satisfaction end recanva.yrance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any, interest In the Property, whether by foreclosure- or otherwise. Nuisance, Waste. Grantor shall not cause. conduct or pe rnit any, nuisance (-fur re:pr +-nit, permit, or suffer any stripping of or 4407609 06/15/2018 02:29 PM Page 2 of 7 DEED OF TRUST (Continued) Page 2 waste on or to the ?roporty or any portion of tore Property;_ Without enticing me generality of me furegoin€g, Grantor wnrili not remove, or grant to any other party the right to remove., any timber., minerals {including oil and gash., coal, clay, scoria. soil. gravel or rock products without Lender's prior written consent: Removal of Improvements.: Grantor shall not demolish or remove any :improvements from the Heal Property without Lender's prior written consent. As a condition lo the removal of any Improvements, Lenoir may require Grantor to rina,ke arrangernar rs satisfactory to Lender to replace such improvements ents with Improvements of at least equal value_ Lender's Right to Enter. Lender and Lender's. agents arid representatives may enter upon the Real Property at all reasonable times to attend to Len'der's interests. and to inspect the Real Property for purposes of Grantor's compliance with the terms and �onditiions of this Deed of Trust. Compliance with Governmental Requirements. Grantor shell promptly comply with all laws, ordinance:G. and recivalations. now or hereafter in effect Of all governmental authorities applicable to the use or occupancy of the Property. Granter mays contest in good faith any such law. ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as. Grantor has notified Lender in writing prior to doing so and so long ass in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lander may require. Grantor to post adequate security or a s'-srety bond, reasonably' satisfactory to Lender, to protect Lender's interest. Duty to Protect. Grantor agrees neither to abandon ur leave unattended the Property, Grantor shall do all other acts. In addition to those acts set forth above in this section.,which: from the character and use of the Property are -reasonably necessary to protect and preserve the Property.. Construction Loan.. It some or alt of ths proceeds of the loan creating the indebtedness are to he used to construct or complete construction of any Improvements on the Propel'ty", the Improvements shall be completed no later tlh:an the maturity date of the Note (Or such earlier date as Lender may reasonably establish' and Grantor shall pay in full all costs and expenses in connection With ehe work. Lender ,mill disburse loan proceeds under such terms and conditions as Lender may deem reasonably necessary to - Insure that the interest created by this Deed of Trust shall have priority over all po eifble- liens, including those of material suppliers and workmen. Lender may require, among other things, that disbursement. requests be supported by receipted bills, expense affitlev;tsar waivers of hens, construction progress reports, and such other documentation as Lender may reasonably request. DUE ON SALE - CONSENT BY LENDER. Leader may. at. Lender's option, declare immediately clue end payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender's prior written Consent. of all or art' part of the Real Property, or any interest in the Real Property. A "'sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legel, beneficial or equitable; whether voluntary or involuntary; whether.by outright sale, deed,. installment sale contract, land contract, contract for deed, Ieaeeh. 1d interest with p term greater than three (3) yentas. Lease -option contract or by sale, essienrnr3la. or transfer of any beneficial interest in or -to any land trust holding title to the Peal Property, of by any other method of conveyance of an interest in the Real Property, However, this option shall not be exercised by Lender if such exercise is prohibited by federal 13W tit by Colorado laws TAXES AND LIENS. The tcallovving provisions relating to the taxes and hens on the Property are part of this Deed of Trust: Payment. Grantor shall pay when due I?r'rci in all events prior (including water and sawed, fines and impositions levied against for work done on or for services rendered or material furnished liens 'twerp priority^ over or actual to the interest of Lender under not due and exco≤-pt es otherwise provided in this Deed of Trust. to delinquency) ail taxes, special taxes, assc.ssrnents, charges or on account of the Property, and shall pay when due all claims to the Property, Grantor shall maintain the Property free of all this Deed of Trust, except for the lien of taxes and as -easement Right to Contest. Grantor may with:hold payment of any tax. assessment, or claim in connection With a good faith dispute over the Obiigaation in pay, so long es Lender's interest in the Property is not Jeopardized. if a ilea arises or is flied as es result of nonpayment, Grantor shall within fifteen 41 5I days after the lien aria-ss or, ft a lien is filed, within fifteen 11'RI days after Grantor has notice of the riling, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bored or other security satisfactory to Lender in n amount sufficient to discharge the lien plus any costs and reasonable attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest" Grantor shall defend itself and Lender and shall satisfy any adverse Judgment. before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment. Grantor shall -U on demand 'furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the texas and assessments against the Property, Notice of Construction.. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any materials are supplied to the Property. if any mechanic's Pert„ meta✓rialmen's lien, or other lien could be asserted on account of the vvrark, serviices, or materials, Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pays the cost of such improvements PROPERTY DAMAGE INSURANCE. The fo!llut+win0 provisions relating to insuring the Property are a part of this Deed of Trust Maintenance of Insurance.. Grantor shall procure and maintain policies of fire insurance with. standard extended coverage endorsements on a replacement basis for the full insurable value troveri'ng ail Improvements nn the Peal Property in an amount sufficient to avoid application of any Coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability Insurance as Lender may rea.sonahiy require. Policies shall be written in form, amounts, coverages and baste reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Grantor, upon request of Lender& will deliver to Lender from time to time the policies nr certifinates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished ► w.ithout et least ten d1 Ot days prior +written notice to Lender. Each insurance policy also shall include an endorsement providIngthat coverage in favor of Lender will not be impaired in any way by any act omission or default of Grantor or any other person. Should the Real ProperJty~ be located in an area designated by, the Administrator of the Federal Emergency Management .AQencv as a special flood hazard area,, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid princepal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy. limits set under the National Flood Insurance Proprarn', or as otherwise required by Lender, and to maintain such insurance for the term of the loan. Application of Proceeds. Grantor shall promptly notify Lender .of any loss or damage to the Property. Lenaler may make proof of loss if Grantor teals to do so within fifteen £ 15l days at the casualty. Whether or not Lender's security is impaired, Lender may, at. Lender's electiont receive end retain the proceeds of any insurance and apply the proceeds to the reduction of the Indeb►tadne:ssf payment of any lien affecting the Property. or the restoration and repair of the Property. If Lender elects to apply the proceeds to !restoration and revisit, Grantor shad repair or replace the damaged or destroyed improvements in a marine( satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditures pay or reimburse Crentor from the proceeds for the reasonable cost of repair or restoration If Grantor is not in default under this Deed of Trust. Any proceeds which have not bean disbursed within 18O days after their receipt end which Lender has not committed to the repair or restoration of the Property shell be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued interest, end the remainder, if any, shall be applied to the principal balance of the andebtecdne.ss. If Lender holds any proceeds wafter payment in lull of the Indebtedness, such pro cads shall his paid to Grantor as Grantor's interests may appear. LENDER'S;EXPENDITURES. If Grantor flails (A) to keep me Property free of all 1a*esa plans, security interests-, encumbrances, and 4407609 O5/15/2D1 8 02:29 PM Page 5 cif 7 DEED OF TRUST (Continued) Page No Waiver by !Lender. Grantor understands Lender will not give up any of Lender s rignts unnnr this Deed of Trust unless Lender d oes so in Writing. The fact that Lender delays or omits to exercise any right Will not mean that Lender has given up that right. it Lender does agree in writing to give up one of Lender's rights, that does not mean Grantor will not have to comply with the other provisions of this Deed of Trust. Grantor also understands that if Lender does consent to a request, that does not mean that Grantor will not have to get Lender's consent again if the situation happens main. Grantor further understands that just because Lender consents to one or more of Grantor's requests, that does not mean Lander will be required to consent to any anf Gramor*s future requests. Grantor waives presentment, darnand for payment, protest, and notice of dislhonor., In the event Lender institutes lewd; process to obtain possession at the Property and to the. extent permitted by law, Grantor hereby knowingly and wrdluntarily waives any right to a hearing prior to a court order granting Lender the right to take pessisssion of the Property_ Grantor waives all rigghts of exemption from execution or similar law in the Property. and Grantor agrees that the rights of Lender in the Property under iNs Deed of Trust are prior to Grantor's rights while this Deed of Trust remains in effect. sever -ability., if a court finds that arty provision of -this Deed of Trust is nit valid OF should not be enforced, that fact by itself will not mean that the rest of this Deed of Trust will not be valid or enforced,. Therefore, a court: will enforce the rest of the provisions of this Decd of Trust even if a (provision of this Dater of Trust may be found to be invalid or unenforceable, Successors and Assigns. Subject to eny limitations stereo ion ithis Deed of trust on transfer of Grantor's interest, this Deed of Trust .shall' be binding uocn and inure to the benefit of the parties, their successors and assigns, If ownership of the Property becomes vested in a person other then Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the Indebtodnes-s by way of forbearance OF extension without releasing Grantor from the obligations of this Deed of Trust or liability under the Indebtedness, Time Ts of the Essence. Time is of the essence in the performance of this Deed of Trust. Waive Jury. All parties to this Deed of Trust hereby waive the right to arty jury trial in any action. proceeding, or counterclaim brought by any party against any other party. Waiver of Homestead Exemption_ Grantor hereby releases and waives all rights and 'ben Sits of the hamestena`!' e ernptirn ldVa of the State of Colorado as to all indebtedness secured by this Deed of Trost. DEPINITrONS, The fnll'nwwin► words shall have the foll•nwing meanings when user$ in this Deed ct Trust, aBertelciarv# The word "Beneficiary," means Bank of Colorado, and its successors and assigns. Borrower.. The word "IlorroWer'° means Brian HempelUnarm and A.ntenella Heraigelranaann and includes ell co-signers and co -makers signing the Note and all their` successors and assigns, Deed of Trust_ The words 'Dead of Trust" mean this Deed of Trust among Grantor, Lender, end Trustee, and includes Without limitation all assignment and security interest provisions relating to the Personal Property and Rents. Environmental Laws. The words "En-vironmental Laws" mean any end all state, federal and local stattites. regufations and ordinances& relating to the protection of human health or the environment, including without Limitation the Comprehensive - Environmental Response, Compensation, and Liability Act of 1980r a.s amended, 42'U.S.C, Section 0501 ,. et seq. "CERCLA"), the Superfund .Arrrendn,ents and Reauthorization Act of 19B6, Pub, L. Nn 93-+ 99 rSARA"Mr the Ha2ardor_As Materials Trari:sportat on Act, 49 LI.S.C. Section 1801, at seat., the Resource Conserv-alien and Recovery Act, 42 U.S.C. Section 6901, et seq., or other aeptIicea state or federal laws, ruJss{ or regulations adopted pursuant thereto. Event of Oafault. The words "Event of Default' mean any of the events o€ default set forth in this Deed of Trust Fn the. events of d efault section of this Deed of Trusts Grantor, The word "Grantor" means Brian Hernpelr`aam and Antonetle Ilarnoeinlann, Guaranty. The word GuaaaPsrtty" me�anc the guaranty from guaaraantor, endorser,. surety, or accommodation party fa Lender, inclaudirtg without lirni!taati©n a guaranty of all or part of the Note. Hoard u Substances. 'Thee. words "Hazardous Substances's mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, stored, disposed of, generated" manufactured, transported or otherwise handled. The words 'Hazardous Substances" are used in their very broadest sansa and include without limitation arty and ell hazardous or toxic substances, materiels or waste as defined by or listed under the Environmental Laws. The term "Hazardous. Substances" also includes, wtrnthout limitation, petroleum and petroleum bye--pradutts or any fraction thereof and asbestos. improvements_ The word "improvements* nraaaaartaa all existing and future improvements, buildings, structures. rricblle homos affixed on the Real Property, facilities, additions, replacements and other construction on the Real IF'rc,p'rtyr. Indobtstinu-ss, The words "Indebtedness" means ell principal, interest, and other amounts, costs and expenses payable. under the ikJote or Belated Documents, together with all renewals of, extensions at modifications of, consolidations of and substittutiions for the Note or Related Documents and any amounts expended of advanced by Lender to discharge Grantor's obligations or expenses incurred by Trustee or Lender to enforce Grantor's obligations under this Dead of Trust,. together with interest on such amounts at provided in this Dead of Trust Lender. The word "Lender" means Bank. of Colorado,, its successors and assigns, The words "successors or assigns" mean any person or compaamry that acquires any interest in the Note. Note. The word "Note" means the promissory note dated June 15, 2010, in the original principal amount of $5951680.00 from Grantor to Lender, together with ail renewals of. extensions et„ "modifications of, refinancings of, consolidations of, and substitutions for the promissory mote or agreement. The maturity date of the Note is Aunt!. 15, 2019. NGTiDIE TO GRANTOR:. THE NOTE CONTAINS A VARIABLE INTEREST RAT Personal Property. The words "Personal Property" mean all equipment, fixtures. and other 2 rticies of personal property now or hereafter owned by Cramer, and now or hereafter attached or affixed to the Beal Property; together with all accessions, parrs, and eaddltdons to. ail res04acornents of, and all substitutions for, any of such property; and toget.t ec with all proceeds Ilncluding without limitation all insurance proceeds and refunds of premiumsi from any sale or other disposition of the Property, Property. The word "Property" means collectively the Real Property and the Person& Property. Real Property. The words "Real Property" mean the real property, interests and rights. as further described in this Deed of Trust Related Documents. The words "Related Documents' mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, morrtyages. ;duds of trust, security deeds,, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the indebtedness - Rants, The word "Rents" means all preserit and future rents, revenues. income, issues. royalties, profits, and other benefits d erived from the Property, 4407610 06/15/2018 02:29 PM Total Pages: 1 Rea Fee` $13,00 Carly Koppes - Clerk and Recorder, Weld County, CO RECORDATION REQUESTED BY: Uank of Coberatio Greeley 3459 W 20th Street, Suite 114 Greeley, CO SO134 WHEN RECORDED MAIL TO: Bank ref Colorado Greeley 3459 W 20th Street, Stills 1114 'Gcoolev. CO 80 634 DISBURSER'DISBURSER'S NOTICE The information contained on this Disbursser's Notice is filed under Colo. Rev. Stat. Section 3R-22-1 6(2) r THIS DISBURSERS NOTICE IS DATED JUNE 15. 2018. BORROWER: The "Borrower" is Brian Hempeimann, whose address is 3005 W 111th Phr Westminster, CO 8O031, and Anton&lla Hempelmenn. whose address is 3005 W 111th Pi Westminster, CO 8O031. LENDER: The 'tender" is Bank of Colorado, whose address is Greeley, 3459 tAl 20th Street. Suite 1 14 Greeley, CO 806344., whose telephone number is (970S 378-1800c OWNER (IF DIFFERENT FROM BORROWER): PRINCIPAL (GENERAL) CONTRACTOR(S): Principal Contractor: 1 Colson Construction Address: 20571-�odt e _ Erie.. c sos 1 a Telephone Number: LEGAL 0ESCRIPTCON OF PROPERTY: Lot 5o Longs Peak Estates P U , E)d County Of Weld, State of Colorado, PROPERTY ADDRESS: Real Property located at 2559 Dawn Ct, Erie, CO 80516 LENDER: BANK OF COLORADO X ntho y cCune, Vice President LsscrPro, Vet. 'l 7.2.10.037 tcpr. _ D H USA Corporation 1 997w 201B. All 9i9hts Reserved. C•O LACEI\LPLMGQ3C.FC TR-159532 PP.544 TO:: W FIRST (iUARAN11EE TITLE, LLC 12600 WEST COLFAX. AVENUE, SUITE -17O _ LAKEWOOD,: COLORADO' 80215 (303) 456-1746 • (303) 431-1265 (FAX) Loth PROPERTY SUMMARY REPORT Mark Bowman Colson, Inc, Certification Date: Add n s Legal.: Ownership: Doe Type: Encumbrances October 8, 2018 at 7:45 a 2570 Dawn Court, Erie, CO 80516. LOT 6, LONGS PEAK ESTATES P..UPD., COUNTY OF WELD, STATE OF COLORADO. Colson, Inc. Special Warranty Deed recorded November 10, 2016 at Reception No. 4252554. 1. A Deed of Trust dated November 7, 2016 from Colson, Inc. to the Public: Trustee of Weld County for the benefit of Citywide Banks, to secure the sum u I $451.000,00 recorded November 10, 2016 at Reception No. 4252559. Note: Assignments of Rents recorded Never her 10, 2016 at Reception No, 4252560. 2. A Deed of Trust dated November 7, 2016 from Colson, be. to the Public Trustee of Weld County for the benefit of Carol A. Propp and Ua ryll D. Propp, to secure the sum of 51,100,000.00 recorded November 10, 2016 at Reception No,. 4252562. 3. UCC Financing Statement from Colson, Inc., debtor, for the benefit of Citywide Banks, secured party, recorded November 10, 2016 at Reception NO., 4252541. NO REPRESENTATION IS _. '! NOR IMPLIED AS TO THE COMPLETENESS, VALIDITY OR THE LEGAL SUFFICIENCY OF SUCH DOCUMENTS, NOR HAVE N SUCH DOCUMENTS BEEN EXAMINED TO DETERMINE WHETHER OR NOT THERE ARE ANY EXCEPTIONS, RESERVATIONS, ENCUMBRANCES OR OTHERMATTERS WHICH MIGHT BE DETRIMENTAL TO TITLE. NO SEARCH HAS BEEN MADE FOR ANY PRIOR RESTRICTIONS, COVENANTS, EASENEENTS, RIGHTS OF WAY, IF Arta' RECORDED PRIOR TO THE COMMENCEMENT OF THIS SEARCH. THIS REPORT DOES NOT CONSTITUTE A TITLE INSURANCE BI DE ' AND IS GIVEN FOR INFORMATIONAL PURPOSES ONLY. THE LIABILITY OF FIRST GUARANTEE TITLE, LLC FOR ANY ERRORS O1�" OMISSIONS IN THE INFORMATION PROVIDEDI LIMITED TO THE AMOUNT PAID FOR THIS REPORT. MAXIMUM LIABILITY IS FURTHER LIMITED TO OUR. CUSTOMER. THERE IS O EXPRESSED OR IMPLIED WARRANTIES THAT THIS REPORT IS RELIABLE FOR TITLE INFORMATION AND, THEREFORE, SHOULD BE VERIFIED BY COMMIT - T FOR, TITLE INSURANCE. 4252554 11/10/2016 12'14 PM Total Pages: 1 .Rec Fee: $11,00 Doc Fee: $110.00 Carly Koppel - Clerk and Recorder, Weld County, CO SPECIAL WARRANTY DEED THIS DEED, made this 7th day of November, 2016. between DARYLE D. PTtOPP and CAROL A. PROP?, of the County of Weld and State of Colorado, gra,ntor.(s), and COLSON, INC., whose legal address is 2 O /r f ce s i`` cop f , grantee(s): WITNESS, S,. that the grantor(s), for and in. consid ration of the sum of ($1,100 ,000.00) One Million One Hundred Thousand and 001100 Dollars, the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, soldand conveyed, and by these presents does grant, bargain, sell, convey and confirm unto the grantee(s), their heirs, successors and assigns forever, all the real to property, m ether with improv �-ments, if any. situate: lying and being in the County of Weld and State of Colorado, described as follows.: LOTS 1 - 7, INCLUSIVE, AND OTTMOT A isi.ND OUTLOT B, LONGS PEAK ESTATE'S P. .D., COUNTY OF WELD, STATE OF COLORADO. also known by greet and number as: VACANT LAND - LONGS PEAK ESTATES S PTJl. TOGETHER all and singular the hereditarnents and appurtenances thereunto belonging, or in anywise appertaining, the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all the estate, oat title, interest, claim d demand whatsoever of the grantor(s), either in law or equity, of, in and to the above barga mod: premises, with the lietertftprnents and appurtenances;; TO HAVE D TO HOLD the said premises above bargained and described, with the appurtenances, unto the grantee(s), theft has, successors and assigns forever_ The ntor(s), for elf. its successors and assigns, does covenant and agree that it shall and will WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable possession ofthe antee(s), their heirs, successors and: signs, against all and every person or persons chiming the whole or any part thereof by, through or under the grantor(s), except. general taxes for the year 2016 and subsequent years; and those specific exceptionsdescribed by reference to recorded documents as reflected to the Title Documents accepted by Grantee(s) in accordance with Section 12 (Record Title) oftb,e Contract to Buy and Sell Rya Estate relating to the above described property; distribution utility ease if • rats (including cable TV); those specifically described rights of third parties not shown by the public records of which Grantee has actual knowledge and which were accepted by Gra.nteee(s) in accordance with. Section 8.3 (Off -Record Title) and Section 9 eve ULC or Survey) of the Contract to Buy and Sell Real Estate relating to the above -described real property; inclusion of the property within any special taxing district; and any special assessment if the improvements were not installed as of the date of Grantee's signature on, the Contract to Buy and Sell Real Estate relating to the above -described real property, whether assessed prior to or after dosing; and all other matters of record and all matters which an T '`ACSI' Survey of the Property would disclose. fITnEsS w.�:x PROPP antor(s) has execute saviraes) Thee? STATE OF COLORADO County of JEFFERSON is dee ■. on a date = forth above. CAROL A. PROP? The foregoin in tnrnentwas acknowledged before me this 7th day of November, 2016, by DARYLL 7D., PROPP and CAROL A. PROPP. 'MICHAEL A. BUSHELL NOTARY PUBLIC. STATE OF 'COLORADO NOTARY ID V 20014037233 MY commiSSIOIM tXcIREt DECESSEA e}2.. nil Witness my hand and official seal. My commission expires: Notary Pub Name ntd Address of Fin Ong Newly Created Leos] Description 032A-35-106.5. C.R.S.j SPECIAL WAREArale DEED 4252559 11/10/2016 12:14 PM Total Pages: 7 Rec Fee: $41.00 Carly Koppes - Clerk and Recorder, VilieId County, CO RECORDATION REQUESTED TED BY: Citywide Banks PO Box 1-8 Aurora, CO flt]C4O WHEN RECORDED Citywide Banks PO Box 128 Aurora, CO 80040 MAIL TO! FO RECORDER'S USE ONLY DEED OF TRUST MAXIMUM PRINCIPAL AMOUNT SECURED. The Len *al this. Deed of Trust shall not exceed at any one time SC51,OOQ,GO except .as: allowed under applicable Colorado law. THIS DEED OF TRUST is dated November 7, 2016, among Colson inc,, whose addrass is 2057 Heritage Place, Erie, Co 80516.4049 ("Grantor"); Citywide Banks, whose address is PO Box 128, Aurora, Co 80040-0128 (referred to below sometimes as "Lender" and sometimes as "Benelriciearr"); and the Public Trustee of Weld County, Colorado (referred to below as "Trustee"). CONVEYANCE AND GRANT. For valuable consideration, Grantor hereby irrevocably grants, transfers and assigns to Trustee for the benefit or Lender as Benefit/an, all of Grantor's right, title, and interest in and to the following described real property, together with ail existing or subsequently erected or affixed buildings. Improvements and fixtures-; ell easements, rights of ways, and appurtenances; ail water, water rights and ditch rights enuluding stock in utilities with ditch or irrigation rights); -and all other tights, $Ntiesr and prol9ts relating to the real property lncluciin_q without Ifl'nftatlon all minerals, oil, gas, geothermal!and similar matters, (the "Real Property") located in Weld County,. State of Colorado: LOTS '1-T, INCLUSIVE" AND OUTLOT A AND OUTLOT lB.r LONGS PEAK ESTATES P,ILLE ., COUNTY Y OF WELD, STATE OF COLORADO. The Real Property or its address is commonly known as Vacant Land inc:iuding all water rights and water taps with the property., Erie, CO80516. Grantor ipresontly assigns to Lender (also known as Be-neficlary In this Deed 'of Trust) all of Grantor's right, title, and interest in and to ail present and future leases of the Property and all Rents from the Property, lin addition, Grantor grants to Lender a 'Uniform Commercial Code security interest in the Personal Property and Rents_ THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY'. IS tGIVEN TO SECURE cA) 'PAYMENT OF THE iNDEBTED'NESS AND (a} IF'ERFORMANCE or ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST, THIS DEW OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: ORAttitTORtS REPRESENTATIONS AND WARRANTIES. Grantor warrants that: 0-4) this Deed of Trust Is executed at Borrower's request and not at the request of Lender; (b) Grantor has the full power, right,, and authority to enter into this Deed of Trust and to hypothecate the Property; lc) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other insturnent binding Upon Grantor and do not result In a Violaion cif any law, regulation, court decree or order epplicadDle to Grantor; (d) Grantor has eat abliished adequate means of obtaining from Borrower on a conti:ntiing `.basis information about Borrowers financial condition; and (e) Lender has made no representation to Grantor about Borrower (including without !imitator) the cre clittworthlness of Borrower)._ GRANTOR'S WAIVERS Grantor waives all rights or defenses arLsinu by reason of any •a,ne action" or "anti -deficiency'" law, or any other law which may prevent Lender from bringing any action against Grantor. IneJudIngl a claim tor deficiency to the extent Lender is othserwise entitled to a claim for deficiency, before or after Lend'er's commencement or completion of any foreclosure action, either sludioi:allyr or by eXerOise of a power of sale. PAYMENT AND PERFORMANCE. Except as otherwise provided In :this peed of Trust, E3.orrawer shall pay to Lender all indebtedness secured by this Dead of Trust as it becomes due,, and Borrower and Grantor shail1 perform all their respective obligations under the Note,, this weed Of `trust, end the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY_ Borrower and Grantor agree that Borrower's and Grantor's possession and use of they Property shell be governed by the following provisions: 'Possession and Use, i..tntil the occurrence a of an Event of Default, Grantor may (1) remain lin possession and control of the Property: (2) use, operate or manage the Property; and (3) collet; the Rents from the Property, Duty to Maintain, Grantor shah maintain the Property in tenantable condition and promptly perform all repairs, replacements, and 'maintenance necess-ary to preserve its value. Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (-1) During the period of Cranlor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal., isles or threatener' release of any hazardous Substance by any person ort, under, about or from the Property; (2) Grantor has no knowPsdge of, or rnc'san► to believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach uut violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment., disposal, release or threatened release of any Hazardous Substance on, under, about or from the Property by ally- prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by zinyr person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nary any tenant, contractor, agent or other authorized user of the Property shall use, gensrater merufactunr, store, treat, dispose of or release any Hazardous Substance on., under, abort or from the Property; and (5) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws_ Grantor authorizes Lender and its .genus to enter upon the. Property to make such inspections and tests, at Grantor's expense, as Lender may cereal appropriate to determine compliance of the Property with this section of the Deed of Trust_ Any inspections or tests made by Lender shall be for Lender's purp05es only and shall not be construed to create any responsibiirty or liability on the part of Lender to Grantor or to any other person. The representations and warranties contained herein are based on Grantor's due diligence in 'investigating the Property -tor Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any such I.2vis; and (2) agrees to Indemnify. ,defend, and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed Of Trust or as a ac►rtsequence of any use, generation, manufacture, storage,. dispasal, release or threatened release occurring prior to Grantor's own:ership or interest in the Property, whether or not the same was at Should have been known to Granioc The provisions 4f +IS section of the Deed 4252559 11110/2016 12: 14 PM Page 2 of f Loan No: 200152187 DEED F TRUST (Continued) Pages of Trust, including 1 the obrigalion to indemnify and defend., shalt survive the payment of he indebtedne and the satisfaction and ref nveyance of the lien cf this Deed of Trust and shall not be affected by Lender's acquisition of any in'torost in the Propeety0 whether by foreclosure or otherwise. Nuisance, Waste_ Grantor snail not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the Property or any portion of the Property_ Without limiting the genera€ty of the foregoing, Granter wilt not remove., or grant to any ether party the right to remove, any timber. minerals (including oil and gas), coal., clay,, scoria, soil, gravel or rock products without Lenders prior Written consent Removal or Improvements. Grantor shall not demolish or remove any Irriprceements fron the Reel Property without Lenclars prior written consent As a ccsneitice to the re -vat OF any improvements. Lender may require Grantor to meals arrangements satisfactory to Lender to replica such improvements with Improvements of at least equal values Leem:lee?s E _h?t to enter. Lender and Lendeer's agents and representatives may enter upon the Real Property at all reasonable times to attend to Lenda?2 Interests and to Inspect the Real Property for purposes of Grantor's compliance with the terms and eonditic ns of this Deed at Trust. Compliance with Governmental Requirements_ Grantor shall promptly comply with all taws, °relnsncea, and regiutations now or hereafter in effect, ut all governmental authorities applicable to the use or occupancy of the Property, lneedlnp without limitation, the Americans With Disabilities Act, Grantor may contest in good lfaiith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender Irb writing poor to doing se and so long as, in Lender's sole opinion, Lender's interests in the Property are not Jjec'pardlzed. Lender may require Grantor to post adequate security or a surety bond, reasonably satisfactory to Lender-, to protect Lender's Interest. 'Dutyto Protect. Grantor agrees neither to abandon or leave unattended the Property_ Grantor shall do all other acts, in addition to those acts sat forth above in this section, which from the enharecter and rose of the Property are treasonably necessary to protect end preserve the Property. Construction Loan_ if some or all of tee- proceeds of the loan crating the indebtedness are to be used to construct or complete construction of any i rapnevemeenits on the Property's the Improvements shall be completed no later then the nriatueirg date cf the Note (or such earlier date as Lender may rea,s-cnabIy establish) and Grantor shall pay in felt: ail costs and expenses in connection with the work= Lender will disburse loan proceeds under such terms and conditions as Lender may deem ree.sonett4y nesear5y+' to Insure that The interest rated by this Deed of Trust Beall have priority over all possible ie liens, Including those of meter -la] suppliers and workmen, Lendee may require, among other things, that diisbureerne! t requests be supported by receipt:ed tills, uxpnnre affidavits. waivers of Ilene, rorisioniction progress reports, and such other documentation as Ie'reler relay reasunably request. DUE ON SALE CONSENT BY LENDER. Lender may. at Lender's option, declass immediately this and pay 1bre9 all sums neo9.ured by cis Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any pert of the Real Property, or any interest in the Reel Property. A "'sale or transfer" means the conveyance of Real Property Or any right, title or intnrnst in the Reel Property; vwheiher legal,. beneficial or equitable:- whether voluntary or involuntary whether by outright sale. det$d, installment sale contract, land contract, core act for deed, leasehold interest with a term greater than three (3) years, Lease-a,ption contract, or by sale„ assignment, or transfer or any beneficial interest fn or to any land trust holding title to the Real Property. or by any other -method of conveyance of an interest in the Real Property. if any Grantor is a corporation, partnership or limited liability coempany, transfer also includes any change In ownership of more than twenty-five percent (2S%) of the voting stock, partnership interests or line -set liability company Interests. as the case may be:, of such Grantor. However;. this option shall not be exercised by Lender if such exercise is prohibited by federal law or by Colorado law, TAXES AND LIENS,: The toilowling previsions relating to the taxes and liens on the Property are part rat this Deed of Trust: Payment_ Grantor shalt pay when due (and in all +ants prior to delinquency) elf taxes, epsdal taxes, assessiments, charges (including water and sewer), fines and Impositions levied against or en account of the Property, and shall pay when due all claims for work done on or for services rendered' Or material furnished to the Propeerty. Grantor shall maintain the Property free of ell liens 'having priority over or equal to the interest of Lender under this Deed of Trust. except for the lien of taxes and assessments riot due, except for the fisting Indebtedness referred to below, and except as otiheerwisee provided in this Decd of Trust Right to Contest, Grantor may withheld ,payment of any tax, assessment or Cairn in connection with a good faith dispute over the obligation to pay, so long as Lenders interest in the- Property Is not joopardired. If a Reran arises or is filed as a result of nonpayme-nt, Grantor shall within fifteen (15) days after the lien arises or, Zf a lien is filed, within fifteen (15) days after Grantor has notice of the tieing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sutficlent corporate surety bond or other seezu.rltyi isatIsfectory to Lender in an amount sufficient to diischsrgee the lien plus any costs and at olrneyst fees, or otheer charges that could accrue as a result of a foreclosure or sale under the Ilene to any contest Grantor shall defend itself and; Lender and shall satisfy any adverse judernernt before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payments Grantor seen upon demand furnish to Lender satisfactory evidence of payefiment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any tune a written statement of the taxes and assessments against the Property. Notice of Construction_ Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any materials are supplied to the Property. if any mechanic's Ilen. m ter el:monis lien,, or other ben ceeld be asserted on ;account of the Work, serelees, or materials-. Grantor will upon request of Lender furnish to Lander- advance assurances satisfactory to. Lander that Grantor can end will pay the cost of such improvements„ PROPERTY DAMAGE INSURANCE. The following previsions restating to insuring the Property area part of this Deed of Trust, Maintenance of Insurance” Grantor shall procure and rnalntain policies of fire insurance with standard extended overage endorsements on n replacement bases for the fun insurable value covering all' Improvements on the Real Property in an amount sufficient to arced application of arty coinsurance clause, and with a standard mortgagee clause in favor of Lender_ Grantor shalt also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability insurranee policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, business interruption, and baiter insurance, as Lender may reasonably require_ Policies shall be written In for'rr'i.. amounts. coverages end basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender_ Grantor, upon request of Lender, viii deliver to Lender from time to time the policies or certificates of 'Insurance in term satisfactory to Lender,: including stipulations that coverages will not be taints:lied or diminished without at least ten (10) days prior written notices to Lender. Each insurance Policy also shell include an endorsement providing that coverage in favor of Lender will not be impaired In any way by any act, omission or default cf Grano or any other person. Should the Real Property be located in an area edema#grated by the Adrninistratar of the Federal emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Ilnsuranc'a, if available, for the FUJI unpaid principal balance of the loan and any pricer liens on the. property seoulrlfp the loan, up to the maximum polio* limits sat under the National Flood Insurance Programs or as otherwise required by Lender, and to maintain such insurance for the term of the can. Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof el kiss if Grantor fails to do so within fifteen, 005.) days of the casualty., Whether or not Lender's s-eculratyr is impaired, Lender may, at Lender's election. receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the 4252559 11/10/2016 12-14 PM Page 6 of 7 Loan NOS 2OO1621 87 DEED OF TRUST (Continued) Page 6 -actions permitted by law to discontinue such activities. Notwithstanding anything in this Deed of Trust regarding The right to cure Events of Defa.uit, upon the'occurrence of an went of Default under this sections Lender may immediately exercise any or all of its available rernodles as set forth in this Doled of Trust., Grantor hereby egret to indemnify, defend. and hold hernia Lender against any and all claims, losses, liabilities, damages„ penalties, and expenses which Lender may directly or Indirectly sustain or suffer resulting from a breach of this Section of the Deed of Trust or as a consequence of any Prohibited Activities of the Property, vvhether or not the same was or should have bean known to Grantor_ This indemnity Includes, without limitation, any governmental action for seizure or forfeiture of any Property (with or without compsrrsatan tc Lender. and whether or not Property 1s taken free of or subject to Lender's lien or security interest). Notwithstanding ►ithstanding anything herein to the contrary, the llsbtlities and Indemnifications provided hereunder- on the part. of Grantor shall not apply to any actions taken or oml lons by Lenders after asserting don -anion and control pursuant to foreclosure cif the Proper.. RELEASE PROVISION. The release provision for the lots will be the higher of 100% of net proceeds after realtar costs or 120% of PAR, Also. If the subject. Letter of credit is outstanding, Stiffictent collateral must remain in place in the form of lot aovaroge or cash- MISCELLANEOUS PROVISIONS. The following miscellaneous provisions era a part Di -t is Deed of Trust' Amendments. This Deed of Trust, together with any 'Related Documents. constitutes the entire understanding and a.graemerrt of the parties as to the matters set forth in this Deed of That. No alteration of or arnera.drrnent to this Deed of Trust shali be effe-ctive unless given in wilting and signed by the party or parties sought to be charged or bound by the aiteratlon sir amendment_ Annual Reports, If the Property is used for purposes other than Grantors restriencst, Grantor shall furnish to •Lendler, upon request, a certified statement of net operating income recaIved frc rn the Property during Grantor's previous fiscal year In such form and detail as Lender shall require_ "Net operating income" -snail mean ail 'cash receipts from the Property ;WAS'al.l csh expenditures made in connection with the operation of the Property. motion Headings, Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust.. Merger. Theme shad be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or far the benefit al Lender in gny, capacity, witholut the written consent Di Lender. Governing Law, This Deed of Trust will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the taws of the State of Colorado without regard to its conflicts of law irovisfons. This Deed of Trus-t has been -accepted by Lender In the State of Colorado. Joint and Several (Liability. All rrbilgations of Borrower and Grantor under this Deed of Trust shall be joint and several, and all references to Grantor shall rraean each and every Grantor, and all references to Borrower shalt ruin each nne# every Sorrrowar_ This means that each Grantor signing below is responsible for all obligations In this Deed of Trust. Wilere any one or more of the parties is a corporation, pnrtnersh'ip. limited liability company or similar entity, It is not necessary for Lender to inquire into the powers of any of the Officers, directors!. partners, members, or other agents acting or purporting to act err the entity's behalf, and any obiipatto,ns mode or created in reliance. upon the professed exercise of such powers shall kie gu nteed under this Deed of Trust. No Waiver by Lender. Lender shall not be deemed to have waived any risnts under this Deed of Trust unless such waiver Is given in vvriUng and signed by Lender, No delay or cinissican on the part of Lender in sxer&lsiing any might shall operate as, a waiver Of such right at any other right. A waiver by Lender or a provision or this Deed' of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior 'waiver by Lender, nor any course of cleating between Lender and Grantor. that constituter a waiver of any of Lenders rights ,or of any of Grantor's obiivat'ions as to any future transactions, Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender In any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Save ¢intr. If a court of competent jurl.sdiiatiori finds any provision of his Deed of Trust to be Illegal, invalid, or unenforceable es to any circumstance. that finding shalt not make the r'ffsndirag provision itlegal. Invalid, or unenforceable as to any other circumstance_ If Feasible, the offending provision shall be considered rriadilSed so that It becomes legal. valid and a forcentaie_ tr the offending provision cannot be so mollified. Mt sheti be considered deleted from this Deed of Trust. Unless otherwise required by invv, the illegality. invatidrjty, or unenfor Milt} of any provision of this mean. of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust Successors and Assigns, Subject to sly limitations -stated in. this Deed of Trust an transfer of Grantor's interest, this Deed of Trust shall be binding upon and inure to the. benefit of the parties, their successors and assigns, if ownership of the Property becomes vested ire a person other then Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with referents to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Truest or liability under, the indebtedness. . Time is of the Essences Time is of the essences in the partomsatise Of this Reed or Trust_ Waiver of Homestead Exemption. Grantor hereby re&eeses and waives 1 rights and benefits of the homestead exemption taws of the State of Colorado as to all Indebtedness secured, by this Deed of Trust. DEPINITiONSr The following -apltalized words and terms shall have the following meanings when used in this Deed of Trust, Unless specifically aimed to the contrary, all references, to dolirar amounts shall mean arm:mints in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall include the -singulars as the context may require_ Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Urpiforrn Commercial Code: Beneficiary. The word "Beneficiary" means Citywide Banks, and its successors and assigns_ Borrower„ The word "aorr ewer" ,-hearts Colson Inc. and Bowman Corp and includes all co-signers and twierr'nekers signing the Mote and all their successors and assigns, Deed of Trust. The words tend of Trust" mean this need of Tri.tet among Grantor, Lender; and Trustee, end includes without limitation all assignment enid security interest provisions relating Deed the -JPersonal v}Properrtyy}a►ndKRents.. Default- The word '"Default" means -the Default set forth in this Deed of 1 rust in the section titled to rift , Environme.ntat Laws. The words 'Environmental Laws" mean any and all state,, federal and local statutes,. regulations end ordirtaarrces relating to the protection of human health or the environment, including virithout limitation the Comprehensive Envi onrr rental) Response. Compensation, and Liability Act of 1A80, as amended, 42 IJ_S4C. Section 9501, et seq. ("CERCLA"), the SLpsrlund Amendments and Reauthorization Act of 19B6, Pub.. L.. No. 99-499 („SARA"). the Hazardous Materials Transportation Acal, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U_ .C. Seeotion 8901, et seq., or other applicable state or federal laws,. rules, or regulations adopted pursuant thereto. Event of Default. The words "Event ct Default" mean any of the events of defsolt set forth in this Deed of Trust is the events of default section of this Dead of Trust. Existing Indebtedness. The words "Existing lndebiadnessTM' -mean the indebtedness: dot albed f'p the Existing Liens provision of 4252560 11/10/2i016 12:14 PM Total Pages: 4 Rec Fee: $26.00 Carly Koppel - Clerk and Recorder, Weld County* CO RECORDATION REQUESTED H?: Citywide Bsn PO Box 129 Aurora, CO 130040-0128 WHEN RECORDED MAIL TO: Citywide 13artks PC Box 128 Aurora, CO a00.40 FOR RECORDER'S USE ONLY ASSIGNMENT OF RENTS MAXIMUM PRINCIPAL AMOUNT BFCURE E The Lien of this Assignment shall not exceed at any one time $446 1,0(10,00 except ss aU wed Wilder applicab e Colorado law_ THIS ASSIGNMENT OF RENTS dated November 7, 2016, is made and executed between Colson Inc-, whose address as 2057 Heritage piece, Erie, CO 8O515 -4O49 (referred to below as "Grantor"', and Citywide Banks whose address is. PO Box 128, Aurora, CO 80040-0123 (referred to below as ,.'.lender"). ASS1GNt i ENT. For valuable consideration, Grantor hereby assigns-, grants a continuing security interest in, and conveys to Lender all ofGrantor's right, title, and interest in and to the Rents from the following described Property located in Weld County, State of Colorado: LOTS 1-7, INCLUSIVE, AND OUTLOT A AND OUTLOT B, LONGS PEAK ESTATES P.A.O., COUNTY OF WELD, STATE OF COLORADO. The Property or its address is. commonly known as Vacant Land including all water rights and water taps with the property, Erie, CO 80.516. THIS ASSIGNMENT IS GIVEN TO SECURE L'1) PAYMENT OF THE INDEBTEDNES-S AND (2) PERFORMANCE OF ANY AND ALL OBLICATICTS OF BOl `ER AND GRANTOR UNDER T 1E INOTE, THIS ASSIStillttiENT, AND TtiE RElATED OOCUME'l4TS, THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti -deficiency" Jar, or arty other law which may prevent Under from bringing. any act -on against Grantor, inciudiing a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency. before or after Lenders commencement or Gorr OelgOi of any foreclosure action, either judicially or by exerdse of a power of sale_ BORROWER'S WAIVERS AND RESPON4.NSIBILPTIFS. Lender need not tell Borrower about any action or inaction Lender takes in connection' with this .Assignment. Borrower asz•urnes the responsibility for being and keeping informed about the Property. Borrower waives any defenses that may arise- because of any, action or inaction of Lender, Including without limitation any Failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the Property. Bonrower agrees to remain liable under the Note with Lender no ,natter what action Lender takes or falls to take under this Assignment PAYMENT AND PERFORMANCE., Except as otherwise provided In this Assignment or any 9e at.ed Documents, Grantor -stall pay to Lender akt amounts secured by this Assignment an they becnrne due, and shall strictly perform ell of Grantor's obli,g.ationis under this. Assignment. Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this ?Assignment, Grantor may remain in posttuf:5sion and control of end operate and manage the Property, and collect the Rents, provided that the granting of the right to collect the Rents shall not constitute Lender's ionsent to the use of cash collateral in a bankruptcy proceeding. GRANTOR'S REPR ENTATiONiS AND WARRANTIES. Grantor warrants that: Ownership. Grantor is entitled to receive the Rents free and clear of all rights, leans,. liens, encumbrances, and claims except as rdisciosed to and arc pted by Lender in vvritinift Right to Assign. Grantor has the full right, power and authority to enter into this Assignment. and to aiasign and convey the Rents to Lender. No Prior A.ssignmsnt ' eater h;as ri,mt prrviciusly Resigned or conveyed the Rents to any other person by any instrument now In force.. No Further Transfery Grantor will not sear assign, as provided in this Assignment LENDER'S RIGHT TO RECEIVE ANO COI I PC RENTS_ occurred under this Assignment, to collect and receive rights, powers and authority: Notice to Tenants. Lender may send notices to any and all tenants of the Property advising rhern cf this Assignment and directing all Rents to be paid dit c —Ely to Lender or Lender's agcnl. enter the Property, Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from any other persons liable therefor, all of the Rants; institute and carry on all legal preceedangs necessary, for the protection of the Property. Incftiding Such pracaedirlg5 as rosy be necessary to recover possession of the Property: cntlect the Rents and remove any tenant or tenants or other persons from the Property. Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair, to pay the costs thereof and of all seiices of Si employees, including their equipment, and of all continuing costs and expenses of maintaining they Property in proper repair and condition, and also to pay all taxes, assessments. and water utilities, and the premiums on fire and other Insurance effected by Lender on the Property. CompIta ica with Laws_ lender may do any and all things to execute and comply with the laws of the State of Colorado and also MI other laws, rule ,, orders, ordinances and 'rer> uirements of ail other government -3i agencies affecting the Property.. Lease the Property, Lender may rent pr lease the whole or any pert of the Property for such term nr terms arid on such conditions as Lender may deem appropriate. Employ Agents. Lender may engage such agent or agents as L -ender nay deem appropriate, either in Lenders name or in Grantors came, to rent and manage the Property, including the caliectlo.n and application of Rents- Other Acts. Lender may. do all such other things and acts with respect to the Property as Lender may deem appropriate and may act exclusively and solely, In the place and stead of .3r'a:rutor and to have all of the pctivers of Grantor for the purposes stated encumber, or otherw se dispose of any of Grantor's rights in the Rents except Lender shall have the right at any time„ and even though no default shall have the Rants. For this purpose. Lender is, hereby given and granted the following 4252560 11O 01201 12:14 PM Page 2 of 4 Lein No: 20016 187 ASSIGNMENT OF RENTS (Continued) Page 2 above_ No Requirement to Act. Lender shall not be required to do any €r1'the foreg€►irig acts or Shines, and the fact that t_endershall have performed one or more of the foreg-oing acts or things shall not require Lender to do any other specific act or thing,. APPLIOATKIN OF RENiTS., An costs and expenses incurred by Lender in connection with the Property shell be for Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its -sole discretion, shall determine the application of any and affil Rents received by it however, any such Rente received by Lender which are not applied to such costs and expertsas snail be applied to the Indebtedness. ALI expenditures made by Lender under This I jnment and not. reimbursed from the Rents shall become a pad of the Indebtedness secured by this Assignment, and shall be payable on demand, with Interest at the Note rate from date of exper liture until paid. (FULL PERFORMANCE_ if Grantor pays all of the indebtedness wean due OS otherwise performs all the obligations Impressed upon Grantor under this Assignment, the Note, and the Related Documents, Lander shall execUte and deliver to Granter a suitable satisfaction of this Assignment and suitable statements of termination of any financing statement on tile evidencing Lenders security interest in the Rents and the Property_ Any termination fee required by law shall be paid by Grantor. if permitted by applicable law, !LENDER'S EXPENDITURES. if any action or pros edin9 is c i menued that would materially affect Lender's interest in the Property* Dr if Grantor falls to comply with any provusion cif this Assignment or any Related Documents, including but not iirnited to Grantor's failure to discharge or pay when due any -amounts Grantor is required to discharge or pay under this inkseigernent or any Related Documents, nnats, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate. inducting but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other clairns, at any time levied or placed on the Rents or the Property and paying ail costs for insuring., maintaining and preserving the Property_ Ati such sxperdture incurred or paid by Lender for such ,purposes will then bear interest at the rate charged sunder the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expense will become- a part of the indebtedness and, at Lender''s option. will (A) be payable on demand; (B) be added to he balance of the Note and be apportioned among arid be. payable with any installment peyrrnenls to become due during either (1) the term of any applicable insuranc-e poniicy, or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be. due and payable at the Note's maturity.. The Assignment also will secure payment of these nmeunts_ such rKght shall bs In addition to all other rights and remedie to which Lender may be entitled upon Default. DEFAULT. Each of the following, at Lender's option, shall constitute en Event of Default. under this Assignment; Payment Default Oon-owsr fair to nnake any payment when due under the Indebtedness.. Other fl f Mite. Borrower or Grantor falls to comply with or to perform any other term, obligation, covenant or condition contained in this Assignment or in any of the- Related [Documents or to comply wfih or to perform any term, nt llgettan, covenant or rendition cnntalned in any Mier agreement between Lender and Borrower or Grantor. Default on Other Payrment3. Failure of Grantor within the time required by this Assignment to make any payment for taxes or insuranc-e or any other payment 'necessary to prevent filing of or to effect dracharge of any lien_ Default In Favor of Third Parties. Borrower, anyguarantor or Grantor defaults ender any loan. w tension of credit. security agreement, purchase or sales agreement, or any ether agreement, in favor of any other creditor or par cn that may rnatedeily affect any of Borrower's, any guarantor's or Grantor's property or ability to perform their respectrr.e obligations under this Assignment or any of the Related Documents. Pales Staternenfs_ Any Warranty, rep.casentation or statement made or furnished to Lender by Borrower ©r Grantor or on Borrower's cr. Grantor's behalf under tis Assignment or the Related Documents is � s or Misleading ITS any material respect, either now or at the time Made or furnished or becomes false or misleading at any time thereafter. Defective Coils eraiiestlon, This Assignment or any of the Related Documents teases to be In fuPJ force and effect (including fanfare of any collateral document to create a valid and perfected security interest or lien) at any lima and for any rrns.on_ insolvency. The dissolution or termination of Borrower's or Grantors existence as a going business, the Insolvenoy of Borrower or Grantor, the appointment of a receiver for any part et ,eirrowerre or Grantors proper"ty+r', any assignment for the benefit of creditors, any type of creditor wvorkout or the comr1encerreet of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Grantor_ Creditor or Forfeiture Proceeilirigs. Commencement of forectosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other teethed., by any creditor of B.arrrower or Grantor or by any goeernrn!enta4 agency against the Rents or any property securing the indebtedness_ This includes a garnishment cif any '©f Borrower's' or Grantor's accounts, including deposit accounts; with Lender. However, this Event of Default shall not apply it there is a good faith dispute by borrower or Grantor as to the validity or reasonableness of the c9aire which Is the basis of the creditor or forfeiture- pr'or ceding and if Borrower.. or Grantor olives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion. es being an adequnto reserve or bonne for tile eispute, Property Damage or Loss. The Property is lost, stolen, subsiantiaity darnng•eci, sold, or borrowed against Evainta Affecting Guarantor. Any of the preceding events occurs With respect to any Guarantor of any of the indebtedness or any Guarantor dies or becomes incompetent, or revokes to disputes the validity of, or liability under,, any Guaranty of the indebtedness_ Adverse Change. A material adverse changes occurs in Grantor's financial conditan, or Lender believes the prospect of peer net or performancs, of the, indebtedness is Impaired. inseciu.rity, Lender in goad faith believes Itself insecure., RIGHTS AND REMEDIES l' N 'DEFAULT_ Upon -the occurrence of any Event of Default and at any+ time thereafter, Lender may exercise any one or more of the 1oarowin_g rights and remedies, in addition to any other tights or remedies provided' by law: Accelerate Indebtedness. Lender shall have the right at Its option without notice to Borrower or Grantor to declare the entire indebtedness immediately due and payable, Including any prspayimenl penally that Borrower would be required to pay_ Collect Rents, Lender she have the right, without notice to Borrower of Grantor. to take possession of the Property and wiled the Renee including amounts past due and unpaid,: and apply the net proceeds, over and above Lender's enst€i, against the indebtedness, in furtherance of this right, Lender shall have all the rights provided for in the Lender's Right to Receive and Collect Rents Section, above.. If the Rents are collected by Lender, then Grantor irrevocably designates. Lender as Grantor's attc'rney-in-fact tc endorse Instruments received in payment thereof in the name of Grantor and to negotiate time same and collect the proceeds. Payments by tenants or other users to Lender In response to Lennder's demand shall satisfy the ob►ligation.5 for 'hieh the payments are made. whether or not any proper grounds for the demand exists -d. Lender may exercise its rights under this. subparagraph either in person, by agent, or through a me&fiver_ Appoint Receiver, Lender shall have the right to have a receiver appointed to take possession of all or any part of the Proper'ty, with the power to protect and preserve the Property, to open the Property preceding toreclosuure or -sale+, and to coiled the Rents from the Property and apply the proceeds„ over and above the cost of the receivership, against the indebtedness_ The receiver may serve without bond if permitted by law. Lender's right to the appointment of s receiver shall exist whether or net the apparent value of the Property exceeds the indebtedness by a substantial amount. Employment by Lender .shall not disqualify a person from serving as a receiver. Receiver may be appointed by a court of competent jurisdiction upon ex pale application 4252560 11/10/2016 12:14 PM Page 3 of 4 Loan No: 20016167 ASSIGNMENT OF RENTS (Continued) Page 3 and without noi.fce, notice being expressly waived, Otter Reniecties_ Lender shall have all clhet rights and remedies orovi4e-d In this Assignment or the Note or by law. Election of Re.nriedies. Eller ion by tender to pursue any remedy, shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform. an obl5gation of Grantor under this Assfgnmerit, after Grantor's failture to perform. shell not affect Lenders right10 declare a default and exercise Its remedies, Attorneys' Fees" Expenses. If Lender forecloses or institutes any suit or action to enfonce any or the tern or this Assignment, Lender shall be entered to recover We scum as the evert May adjudge reesonable es attorneys' fees at feel and upon any .appeal_ Whether or not any court action its Involved, and to the extent not prohibited by few, ail reasonable e perntizs Lender incurs that in Lenders opinion are rieceswy at any time for the protection of its interest or the c-nforesment of its rights shall became a part of the Indebtedness payable on demand end shaii bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, 'Without l'irnftaVon, however subject to any limits under applicable law. Lender* attorneys' fens whether or not there is a lawsuit, including attorneys' fees and expenses for bankiruptcy proceedings- (including, efforts to modify or vacate any automatic stay or injunnction)0 appeals, and any anticipated post -judgment ccllection Vices, the cost of searching records,, obtaining title reports (including foreclosure reports),, surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee. to the extent pernittted by applicable taw. Granter also Wilt pay any evert costs, in addiean to all other sums provided by law_ MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment Ameneiments. This Assignment, together with any Related Cocuments. c nstieeles the entire understanding and agreement of the parties as to the matters set forth In this Assignment. No alteration of or amendment to this Assignment shall be effective unless given In Writing and signed by the party or parties sought to be charged or bound by the alteration or amendment_ Caption Headings. Caption headings in this A.ssignrner,t are for convenience purposes only arid are net to be used to interpret or define the provisions of this Assignment. Governing Law. This Assignment will be governed' by federal law applicable to Lender and, to the extent not preempted by federal lewd thin laws of the State of Qoiar.ado without regard to its conflicts of law previsions_ This. Assignment has been accepted by Lender in the State of Colorado. Joint and Several Liability_. Jell obligations of Borrower and Grantor under this Assignment snail be joint and several and ell references to Grantor snail mean each and every Grantor, and all referenreie to Sorrovver shall mean each and every Borrower: This Means that each .Granter signing below is responsible for ail obligations in this Assignment. Where any one car rmore of the parties Is a corporation, partnership, limited iiabiliiy company or slnniler entity. it is not necessary for Lender to inquire into the powers of any of the officers, directors. partners, members, or other agents acting or purporting to act co the entity's behalf, and any obligations made or created in reliance upon the professed exercise of such powers shall be guaranteed under this Assignment. Merger. There snail ne no merger of the interest or estate created by this A. Assignment with any other interest or estate in Inn Property at any time h.atd by or for the benefit of Lender in any capacity, Without the written consent of Lender. Interpretation. (1) In all cases Where there is rocs than one Borrower or Grantor, then ail words used in this Assignment in the singular shall be deemed to have bean used in the plural where the context and construction so require. (2) If more then one person signs this Assienrrient as "Grantor." the obligations of each Grantor are joint and several. This means that if Lender brings a lawsuit, Lender may any sue one or morn of the Grantors_ St Sonneteer and Grantor are not the same pe,-sin„ Lender flood not sue Borrower first, and that Borrower need not be joined In any lawsuit. (3) The names given to paragraphs or sections In this Assignment are for oenvenience pure ss only. They are nod to he used to interpret or define the provisions of this Assignment. No Waiver by Lender. Lender shall not be deemed to have waived any nights under this Assignment unless such waiver Is given in writing and signed by Under.. No delay or omission on the part of Lender in exercising any right shalt operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment shall not prejudice or 'constitute a waiver of Lender's right otherwise in dernand strict compliance with that provision cr any other provision -of this Assignment_ No prior weleer by Lender, nor any t arse, a! anure between Lender and Grantor, shall constitute a waiver of any of Lenders rights or of any of Grantor's ohlig€ttions as to any future transactions. Whenever the consent of Lender is required under this Assignment. the granting of such consent by Lender in any instance shell not ccnstikute continuing consent to subsequent Instances where such consent Is required and in all i ses such consent mn y hex ,granterd or Withheld in the sole discretion of Lander_ Notices. Any notice required to be given under this Asslginrnarrt shall be given in writing._ and shall be effective when actually delivered, when actually received by teletacslmiie (unless other vise required by law)., when deposited with s nationally recognized overnight couriers or, if_ !mailed, when deposited in the United Staten mall, as first class, certified or registered frail postage prepaid. directed to the addressaddresse.S ehowwn near the beginning of this Assignment. Any party may change Ks address for notices under this Assignment by giving formal written notice to the otherparties, specifying that the purpose of the notice is to change the pasty's address_ For notice purposes,. Grantor agrees to keep Lender informed at all times of Grantors current address., Unless other vise provided or required by law. If there is mare than one Granter„ any notice given by Lender to any Grantor la -des d to tie notion glyop to all Grantors. Powers of Attorney. The Various agencies and powers of attorney conveyed on Lender under this Assfgnrnen't alre granted for purposes of security and may not be reve'keil by Grantor entli such time as the same are renounced by Lender_ Sevetabllltyr. If a court cif competent Jurisdiction finds any provision of this Assignment to be illegal, invalid, or unenforceable as to any circumstance, ce, that finding snail not make the offending provision illegal, Invalid, or unenfor eabie as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes, legal. valid and enfcnceable. Jt the offending provision cannot be so ?ncdifadl, it shall be considered deleted from this A lgnment Unless otherwise requirediby Caws, the illegality, invalidity, or unentiorcsebillity of any provision of this Assignrnent shall not affect the legality, validity or enforceability of any other provision of this Asslgnri ent. Successors and Assigns. Subject to any limitations stated in this Assignment on transfer of Grantor's interest, ftds Assignment shall tie binding upon and Inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Assignment and the indebtedness by way of fnrbm-.ranee or extension without releasing Grantor from the obligations of this Assignment or liability under Late anndebtedraess, Time is of the Essence. Time is of the esserice in the performance of this Assignment. 'Waiver ct Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the horn stead exemption laws of the Stale of Colorado as to all Indebtedness secured by this As-signmenit. Waiver of Right of Redemption. NOTWTTIdSTANDING ANY OF THE PROVISIONS 70 THE CONTRARY CONTAINED !N THtS ASS'JGN MENT, GRANTOR HEREBY WANES ANY AND ALL RiQhiTS OF REDEMPTION FROM SALE UNDER ANY ORDER OR J' rlb2MENT OF IFOREECLOSUPC- ON CRA TOR't BEHALF AND ON BEHALF OP EACH AN EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF GRANTOR, ACQUIRING ANY NI LSEST IN OR TfT-L TQ TIrE PROPERTY SUU .$EOUENT TO THE GATE OF THIS ASSIGNMENT. DEFIfNETlONS. The following c ptitalleed words end terms shell have the following meanings when used in this Assigns nenit. Unless 4252562 11/10/2016 1214 PM Total Pages: 13 Rec. Fee: $71.00 Carly Koppes{ Clerk and Recorder, Weld County, CO 1 2 The printed peen of this for except differentiated additions, have been approved by be CcIorado Real EStatO Cernmissiorr. (TD72-8-.10) (Mandatory t- I I) 3 4 IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. 5 THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED 6 BEFORE SIGNING. 7 3 DEED OF TRUST 9 10 11 12 i 14 15 16 17 1s 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 39 40 41 42 43 44 45 46 47 48, 49 50 51 52 53 54 Due on Tram er — Strict) b THIS DEED OF TRUST is made this 7th day of November, 2016 between COLSON. WC., a Colorado cor Qradon (Borrower), whose address is2051 Heritage Place, Cries, Colorado 80516 and the Public Trustee of the County in which the Property (see § 1) is situated (Trustee); ); Thr the benefit of CAROL A.. _WOP'P and DARYLL I . PROOF, as joint tenants with rights ofzurv1v ship (Lender), whose address is 2278 Holly Court, Golden. Colorado 30401, Borrower and Lender covenant and agree as follows.. L 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 legally described property located in the _ County of Weld., State of Colorado Lots 1-7 inclusive and Outlets A and B, Longs Peak Estates PSUID., County of Weld, State of Colorado known as No. Vacant Lanett (Property Address), Street Address City State Zip together with all its appurtenances (Prop"). 2. Note! Other Obligations Secured. This Deed of Trust is given to secure to Lender: ?.1. the repayment of the indebtedness evidenced by Borrower's note (Note) dated November- 7 2016 in the principal S11171 of ONE LL1O OINIE HUNDRED THOUSAND AN 0/too Dollars (U.S! I„ 100.,000,0}), with ti o interest thereon until November 7 018. Commencing on November 7; 2018, interest shall accrue on all outstanding principal amounts at the rate of three percent (3.0%) per annum, All payments of principal and interest shall be payable at 2278 Holly Court, Golden, Colorado 80401, or such other place as Lender may designate, On the date of this Not; Colson, Inc, has simultaneously closed on a loan in the approximate amount of $459„000 from Citywide Bank ("Bank”) to fund construction of finished lot improvements on the real property described in paragraph 8 of this Note (the "Construction Loan"). Each of the kits referenced in paragraph 8 of this Note are herein referred to as a "Lot"" and collectively the "Lens." Not including the sale of a Lot to Drayson Bowman, upon the dosing of the sale of each Lot, Brower shall pay to Bank all proceeds required by Bank to repay in full the Construction Loan to Bank, Once the Construction Loan is paid in full, then Borrower shall pay to Lender $210,000 from each Lot that is thereafter sold, provided that said $210,000 amount ount shall be increased on the sale of the last Lot as required to ensure that Lender is repaid in full by the sale of the sixth Lot sold, Not including the Lot to be sold. to Drayson Bowman, there are six Lots to be sold to third parties. It is anticipated that the Construction Loan will be repaid with the proceeds from the sale of the first of such six Lets sold and a small portion of the proceeds from the second Lot sold Accordingly, it is anticipated that Lender will be paid $210,000 from the sale of the second; third, fourth and fifth Lot and $260,000 from the sale of the sixth Lot sold, plus such additional amount from the sale of the sixth Lot as necessary to pay any accrued interest under this Note, The ids [mm the closing on the sale of such Lots that are owed to Lender shall be paid to Lender directs from the proceeds at Closing from the title company closing such sale in exchange for a partial release of Lender`s, Deed of Trust with respect to the Lot sold. Any Lot sale proceeds paid to Lender shall be applied first to any accrued interest and then to reduce the principal amount of the Note. Borrower is obligated to repay to Lender the entire amount of principal and interest owing under this note,, regardless of the sale prices of the Lots, Notwithstanding anything contained herein to the contra, if not sooner paidthe entire principal amount outstanding and accrued interest thereon, shall be due and payable on the earlier of (1) November 7; 2019, or (ii) the closing on the sale of the last Lot. In addition to the foregoing, in the event the aggregate gross sales prices of all seven (7) of the Lots is in excess of Two Million One Hundred Thousand Dollars ($2,100,000.00), then Borrower shall pay to Lender directly from the proceeds of the Lot sales fitly percent (50510) of the excess: over$2,100,000.00,until Borrower has paid Lender an additional One Hundred Thousand Dollars No. TD72-8-TO, DEED OF TRUST (Due on Transfer— Strict) Pine I of 7 4252562 X11 'M/2016 12:14 PM Page 2oM3 56 ($100,000.00). After Borrower has paid Lender an add o $100„000,00 pursuant to the foregoing sentence, Borrower shall have 57 the right to retain any additional proceeds in excess of $2,100„000„00. Me additional $100,000.00 is in addition to Borrower's full 58 repayrrient to Lender of the loan amount and any accrued ittercst and shall constitute additional amounts due and owing under this 59 Note. Other than the sale of one Lot to Drayson Bowman $28210D0, all Lot sales shall be armsaerigth transactions with 60 independent third parties. The sales prices of all Lot sales shall be sebject to the prior approval of Lender, not to be unreasonably 61 withheld and: shall be for the full fair marketvalue of each such Lot Borrower shall provide all closing documents, settlement 62 statements, tax returns, internal accounting and any other documentation requested by Lender to determine and calculate the 63 agate mss sales prices of each of the Lois. 64 l.it the payment of all other sums, with interest thereon at 12% per snarl -r, disbursed by Lender in accordance 65 with this Deed of Trust to protect the security of this Deed of Trust, and 66 23. the performance of the covenants and agreements of Borrower herein contained. 67 3. Title. Borrower covenants. that Borrower owns and has the right to gtnnt and convey the Property, and warrants title 68 to the same, subject to general real estate taxes for the current year, easements of recordor in existence, and recorded 69 declarations, restrictions, reservations and covenants, if any, as of this date, and subject to those exceptions to title listed on 70 Thcfribit A attachedjereto and incor-poraked_herein by this reference., 71 4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the 71 indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all ofBorrower's other 73 covenants contained in the Note, 74 S.. Application of Payments. All payments received by Lender under the tennis hereof shall be applied by Lender fast 75 in payment of amounts doe pennant to 23 (Escrow Funds for Taxes and Insurance), then to amounts disbursed by Lender 76 pursuant to § 9 (Protection of Lender's Sect'), and the balance in accordance with the terms and conditions °fettle Note, 77 6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations 78 wider any prior deed of trust and any other prior liens, Borrower shall pay all taxes, assessments and other charges, des and 79 impositions attributable to the Property which may have or attain a priarity over this Deed of Trust, and leasehold payments or 80 ground rents, if any, in the manner setout in § 23 (Escrow Funds for Taxes and Insurance) or, if not required to be paid in such 81 manner, by Borrower mfg payment when due, directly to the payee thereof. Despite the foregoing, Borrower shall not be. 82 required to make payments otherwise required by this section if Borrower, after notice, to Lender, shall in good faith contest S3 such obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of 84 the obligation or forfeiture of the Property or any part thereof, only upon Borrower mal tang all suds contested payments and 85 other payments as ordered by the court to the registry of the court in which such proceedings are (filed. 86 'gym Property Inspranee. Borrower shall keep the irrnprovernents now existing or hereafter erected on the Property 87 insured against loss by fire or hazards included within the term "extended coverage" in an amount at least equal to the lesser of 8K (a) the insurable value of the property or (b) an amount sufficient to pay the sums secured by this Deed of Trust as well as any 89 prior encumbrances on the Property. Allof the foregoing shall be loo as "Prep In.surance.t' 90 The insurance carrier providing the insurance shall be 'qualified to write Property Insurance in Colorado and shall be chosen 91 by Borrower subject to Lender's right to reject the chosen carder for reasonable cause. AU insurance policies and renewals 92 thereof shall include a standard mortgage clause in favor of Lender, and shall provide that the insurance carrier shall, notify 93 Lender at least ten (10) days before cancellation, termination or any material change of coverage. Insurance policies shall be 94 wished to Lender at or before closing. Lender shall have the right to hold the p►olizies and renewals thereof. 95 in the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss 96 if not made promptly by Borrower, 97 Insuratice proceeds shall be applied to restoration or repair of the Property damaged, provided said restoration repair is 98 economically feasible and the security of this Deed of Trust is not thereby impaired, If such restoration or repair is not 99 economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the 100 sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if 101 Borrower fails to respond to Lender within 30 days from the date notice is given in accordance with § 16 (Notice) by Lender to 102 Borrower that the insurance carrier offers to settle a claim for inearance benefits, Lender is authorized to collect and apply the 103 insurame proceeds, at Lender's option, either to restoration or rep it of the Property or to the sums secured, by this Dew of 104 Trust. 10$ Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in 106 § 4 (Payment of Principal and Interest) and 23 (Escrow Feeds for Taxes and Insurance) or change the amouet of such 107 installments. Notwithstanding anything herein to the contrary, if under 18 (Acceleration; Foreclosure; Other Remedies) the 108 Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the 109 proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the 110 sum secured by * its Deed. of Trust immediately prior to such sale or acquisition, +°ti.TD7Z-8-iii. DEED OF TRUST (Due on Transfer— Strict) Page 2 o17 4252.562 11 /10/2016 12:14 PL Page 12 of1 1 Modification. This Deed of Trust may not be amended, modified or changed except by. an instrument in writing, signed by the party against whom enforcement of the amendment, modification or change is sought. l ■ Survival of Covenants.. The covenants contained in this Deed of Trust shall survive foreclosure or other termination, expiration or release of this instrument 13. Severabili a, if any teen of this Deed of Trust or the application theareof to any person or circumstances shall, to any extent, be invalid or unenforceable, the remainder of this Deed of Trust or the application of such term to persons or circumstances other than those as to which it is invalid or unenforceable shall not be affected thereby and each term .of this Deed of Trust shall be yalid and enforceable to the fullest extent permitted by law. 1.: Jury Trial Wa.iver. It is mat ally agreed by and between Borrower and Lender that the respective parties waive trial by jury in any action, proceeding, or counterclaim brought by Borrower or Lender against the other party on any matter whatsoever arising out of or in any way connected with the Property, this Deed of Trust, or the Note. [end of page, signature on following page] 4 4252541 11110/2016 11:39 AM Total Pages: 2 Rtic Fee: $6.00 Carly Koppes - Clerk and Recorder, Weld County, CO UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS A, NAME A. PHONE OF CONTACT AT FILER (optional) a. E-MAIL CONTACT AT FILER (optional) C. SEND ACKNOWLEDGMENT TO: (Name and Address) Citywide Banks PO Box 128 Aurora, CO 80040 L J THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 1, DEETOR'S NAME, Promde only Imo Debtor name (la or I to (cse exact_ lull name; do not omit, modify, or abbreviate any pan or tine Debtors name); it any part of fine InnIN/isdrra' lachtdes name will not fit in line lbr leave all of item 1 blank, check here and provide the Individual Deck r inronnation In item 10 of the Financing &&element Addendum (Form LPCC1Ad) OR la. ORGANIZATIONS Colson NAME Inc. 1 b. INDIVIDUAL'S UAL"S SURNAME FIRST PERSONAL NAME ADOIIT oNAL NNAt !(S r1MflAL(S) SUFFIX lc. MAILING 2057 ADDRESS Heritage CITY Erie STATE CO i POSTAL mod€ 805154049 ,rcCi x,11 r_,=,r USA Place ?. DEBTOR'S NAME. Provide only one Debtor name 2a cif 2W (Use eXaCto Full name; do not omit, modify, or abbreviate any part of he Debtor's name); if any pal of the I ndlvidual Debits name will not tit in firm 2b, leave a"l all item 2 ilia* check flan IN and provide the Infrilvidual C obler Information in Item 10 of the Financing statement Addenorcrri (Form UCCiAril) Q. C1 GANIZA i lQN'S NAME 2n, INDIVIDUAL'S SURNAME ME FIRST PERSONAL NAME ADDITIONAL AL NAMZIa;f$NLTIAL(S) SCI. 2c MAILING ADD S STATE I POSTAL CODE COUNTRY 3. SECURED PARTY'S NAME (or NAME of ASSIGNEE pi ASSIGNOR. SECURE© PARTY): Provide only one Secured Party name ><3a or 3b) Si CRCANI A. riovs NAME Citywide Banks OR ..i.D Ir+[DIVIDUAL.'S FIRST PERSONAL ritmAE ADDITIONAL NAME ANITIAC (S) StJPFI SURNAME 3d~ PO RILING Box 128 Ail " Cr7' Aurora POSTAL CODE 50040-0128 COUNTRY USA STATE CO 4. COLLATERAL: This financing statement cu err$ the following Water -ay All Inventory, Equipment and Fixtures; whether any of the foregoing is owned now or acquired later; all access Qns, additions, replacements, and substitutions relating to any of the foregoing; all records of any kind relating to any of the foregoing.. 6. Chock gilx, II applicable end check w tly uae Sic Collateral is J I theld in a T nisi (see Li CC I Ad, item 17 and Instruct ons) Ca. checx only ii" applicable anti che+ = one Loop Public -France Transaciidn [J Manuiarturet-Home Transaction DI A Demor is a transrittling Utility bung administered by a Decedents Personal iRepreseelative cmle 613. Check Doti if applicable and check only one box_ n ApdcultusBi Lien Non-UCC fling 7. ALTERNATIVE DE.SIGNA19QN (il applicable): LasseeALeSSOr I Cnnslgne 'Consignor SellerI8eyer D Rntlae/Railor Licerrseeircansor 8, OPTIONAL FILER REFERENCE DATA: Loan #200153744 FLING OFF'10E COPY — LIW FINANCING STATEMENT Form I CC1) (Rev. 04/20111) DtH 400 S.W. 6th Avenue. Portland, Oreaon 97204 4252541 11110/2016 11:39 Page 2 of UCC FINANCING STATEMENT ADDENDUM FOLLOW INSTRUCTIONS 9, NAME OF mist I eT p: same aslire 1a Drib of Financing Staternent it line l b was loth bL rLk became Individual Debtor Cane did mai fit, check here OR 9a. ORGANIZATION'S NAME Colson Inc. 9b. INDIVIDUAL'S GUFRINAME 9J ST PERSONAL NAME AD ©I TIO NAL IN AME (SyI N I`>! IA'L (S) SUFFI Via. THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 10. DEBTOR'S NAME: Provide Ma or106) ) only one adds nal Debtor name or Debtor name that did not flt in line in or 2b ofthe Financing Statement (Form UCC1) (use exact, full r:aniEr. do not omit, moitfy, or abbreviate any part of the DeOtars name) and enter the malting.drdres in line Ito OR 10a. ORGANIZATION'S AINIZATION'S NAME 10b. INDIVIDUAL'S SURNAME IND'IVIDUAL'S RRST PER3OIIAL INDIVIDUALS ADDITIONAL NAME(S)1INF T 1Al zSl, SUFFIX. lac. tr lAJ LING ADDRESS 11, f 1 ADDITIONAL SECURED PARTY'S NAME Ir DR. TY STATE POSTAL CODE ASSIGNOR SECURED PARTY'S NAME; Provitle only,ont name Oi a or 11bb COUNTRY 'S9a. 0RCANIZAT1ON'S NAME 11 b. INDIVIDUALeaURNAME FIRST PERSONAL NAME ADDITIONAL NAIVIECSWINITPAL(S) SUFFIX 't lc. MAILING ADDRESS 12. ADDITIONAL SPACE FOR ITEM 4 (Collateral), CITY STATE POSTAL CODE COUNTRY 13. d X r This FINANCING STATEMENT is to be rued [for record) (or recorded) in the REAL ESTATE RECOMUS (If eppkcatla) 14. This FINANCING STATEMENT; 11 covers timber to be cut ❑ covers as-eXtractecl collateral . IS Ned a a fi re �lirrg. Name and address of a RECORD OWNER oI real fesiate a:escribed in item 1a {F (Debtor ices not nee a neeord interest): 17. MISCELLANEOUS: 1 . Des.criipii€an jai reaN estate: LOT 1-I', 1NCLJSIVE, AND OUTLOT A AND OUTLOT B., LONGS PEAK ESTATES PAID*, COUNTS' OF WELD, STATE OF COLORADO, FILING OFFICE COPY UCC FINANCING STATEMENT ADDENDUM (RIM) UCCIAd) (Rev. 04/20x111) D+H 400 S.W. GUM Ave n uie, Portland, Oregon 97204 TO: FIRST GUARANTEE TITLE, LLC 12600 WEST COLFAX AVENUE, SUITE A-170 ■ LAKEWOOD, COLOR/WO 80215 (303) 4S64746 • (303) 431-1265 (FAX) Lot 7 PROPERTY T MARY REPORT Mark Bowman Colson, Inc. Certification Date.: October 8, 2018 at 7:45 am'. Address: 2574 Dawn Court, Erie, CO 80516. LOT 7, LONGS PEAK ESTATES P. .D., COMITY OF WELD, STATE OF COLORADO. Ownership: Colson, Inc. Doc Type: Special Warranty Deed recorded November 10, 2016 at Reception No. 4252554. Eticumbrances. 1. A Deed of Trust dated November 7, 2016 from Colson, Inc. to the Public Trustee of Weld County for the benefit of Citywide hanks, to secure the sum of $451,000.00 recorded November 10, 2016 at Reception No. 4252559. Note: Assignments of Rents recorded November 10, 2016 at Reception No. 4252560. 2. A Deed of Trust dated November 7, 2016 from Colson, Inc. to the Public Trustee of Weld County for the benefit of Carol A. Propp and Daryl,' D. Propp, to secure the sum of $1,100 ,000,00 recorded November 10, 2016 at Reception No. 4252562. 3. UCC Financing Statement from Colson, Inc., debtor, for the benefit of Citywide Banks, secured party, recorded November 10, 2016 at Reception No. 4252541. NO REPRESENTATION IS E NOR LIED AS TO THE COMPLETEPWSS, VALIDITY H THE LEGAL SUFFICIENCY OF SUCH DOCUMENTS, NOR HAVE ANY SUCH DOCUMENTS BEEN EXAMINED TO DETERMINE E WHETHER OR NOT THEME ARE ANYEXCEPTIONS, RESERVATIONS, ENCUMBRANCES OR OTHER MATTERS ' WHICH MIGHT BE DETRIMENTAL TO TITLE. NO SEARCH HAS BEEN MADE FOR ANY PRIOR RESTRICTIONS, COVENANTS, EASEMENTS, l 'LENTS, RIGHTS OF WAY, IF ANY RECORDED PRIG'. TO THE COMMENCEMENT OF THIS SEARCH. THIS REPORT DOES NOT CONSTITUTE A TITLE INSURANCE BINDER AND IS GIVEN FOR INFO TIONAL PURPOSES ONLY. THE LIABILITY OF FIRST GUARANTEE .TEE TITLE, LLC FOR ANY ERRORS OMISSIONS IN THE INFORMATION PROBED IS LIMITED TO THE AMOUNT PAID FOR THIS REPORT. MAXIMLM LIABILITY IS FURTHER LIMITED TO OUR CUSTOMER. THERE RE IS NO EXPRESSED H IMPLIED WARROTTIES THAT THIS REPORT IS 14FULABLE FOR TITLE INFORMATION AND, THEREFORE, SHOULD BE VERIFIED BY COMMITMENT FOR TITLE INSURANCE. 4252554 11/10/2016 12:14 PM Total Pages: 1 Rec Fee: $11.00 Doc Fee: $110.00 Carry Koppes - Clerk and Recorder. Weld County, CO SPECIAL WARRANTY DEED THIS DEED, matte this 7th day of. November, 2016, beyween DARYLIJ T PROPP and CAROL A. PROP?, of the County of Weld and State of Colorado, gra tor(s), and COLSON, INC, whose legal address is 2 7 be ER,/ not, et pkence- ate tie- co __ens di•me c(sl WITNESS, that the &raPtor(s), for and in consideratigio of the sure of (1,100,OO[l•O0) One Million on One Hundred Thousand and 001100 Dollars, the receipt and sufficiency of which is hereby acknowledged,has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sail, convey and confirm unto the grantee(s), their heirs, successors and assigns forever, all the real property, together with improvements, if any, situate, lying and being in the County of Weld and State of Colorado, described as follows: LOTS 1 7, INCLUSIVE, AND OTJTLOT A AND OLTLOT B, LONGS PEAK ESTATE P+UID., COUNTY OF WELD, STATE OF COLORADO. also known by street and number as: VACANT LAN D LONGS PEAK ESTATES MD. °T O GE T I --I ER all and singular the hereditaments and appurtenances thereunto be l on g, or in anywise appertaining, the reversion and reversions, rernaindcr and remainder; rents, issues and profits thereof, and all the estate,. right,title, interest, claim and demand whatsoever of the grantor(s), either in law or cquiof, in and to the above bargained premises, with the hereditaments and appurtenances; TO HAVE AVE AND TO HOLD the said premises above 'Dm -gained and described., with the apputtenan.tes,, unto the grantee(s), their heirs, successors and assigns forever. The grantor(s), for itself, its successors and. assigns, does covenant and agree that it shall and will WARRANT AND FOREVER DEPEND the above bargained premises in the quiet and peaceable possession of the grantee(s), their heirs, successors and nos gas against all and every person or persons claiming the whole or any part thereof, by, through or under the grantor(s), except general taxes for the year 2016 and subsequent years; and those specific exceptions described by reference to recorded document as reflected in the -Title Docanaenis accepted by Grant s) in accordance — with Section C_2 (Record Tine) of the Contract to Btry and Sell Real Estate relating to the above described property; distribution utility easements (including cable those specifically described rights of third parties not shown by the public records of which Grantee has actual knowledge and which were accepted by Gratrtee(%) in accordance with Section 8.3 Off -Record Title) and Section 9 New ILC or Survey) of the Contract to Buy and Sell Real Estate relating to the .above -described real property; inclusion of the property within any special taxing district; awl any special assessment it the improvements were not installed as of the date of Grantee's signature on the Contract to Buy and Set) Real Estate relating to the above -described real property, whether assessed prior to or after closing; and all ether matters of record and all matters which au. ALTAJACSNI Survey of the Property would disclose. antor(s) has execute s deer . on e date ; forth. above. CAROL A. PROPS STATE, OP COLORADO County of JEERS ON The foregoing in ; rnent was acknowledged before me this 7th day cf November, 2016, by D YLL• D. PROPP and CAROL A? PROPP? I MICHAEL A BUSHELL NOTARY 'PUSL4C STATE OF COLORADO NOTARY IQ # 20014037233 MY COMMISStQI4 EXPIRES oecemaeR 02_ 2017 Witness my hand and official scat_ - ■ y coissiou expires: Notary Public itilame sod Atkins& crearscoaCitating.Ncwly Created Legal Desenvtixt (§36-35-106,S. C -S) SPECIAL, WARRANTY DEED 4252559 11 /10/2016 1214 PM Total Pages: 7 Rec Fee. 41.OO Carly Koppes - Clerk and Recorder, ' e&d County, CO RECORDATION REQUESTED BY: Citywide Banks PO Box 2$ Aurora, CO 810040-0•12.8 WHEN RECORDED MAIL TO: Citywide Banks PO Box 12S Aurora, CO 30040 FOR RECORDER'S USE ONLY DEED OF TRUST firl. XIMUM PRINCIPAL AMOUNT SECURE'. The Lien of this Deed of Trust shall not exceed at any one tins $451,000 J0O except as. allowed, under applicable cQ1Qrdo law. THIS DEED OF TRUST is dated November 7, 2016. among Colson Inc., whose address is 2057 Heritage Place, Erie, CO 80516-4049 ("Grantor"); Citywide Banks, whose adddri is PO Box 126, Aurora, CO 80040-0125 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and the Public Trustee of Weld County, Colorado (referred to below as "Trustee"). CONVEYANCE AND GRANT. For valuable consideration, Grantor hereby irravotably grants, transfers and assign to Trustee for the benefit of Lender as Beneficiary all of Grantor's right, title, and interest in and to the following described real property', together with all extistinp or subsequently erected or affixed buridings.:Improvements and txtures; an easements. rights of way, and appurtenances; ail water, waiter rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the r'eaD property, including writhotrt limitation all minerals, oil, gas., geothermal and sihrtliaar matters, (the "Real Property") located in Weld County, State of Colorado: LOTS 1-7. INCLUSIVE, AND OUTLOT A AND OUTLOT B! LONGS PEAK ESTATES PA.U.D., COUNTY OF WELD, STATE OF COLORADO, The Real Property or its address is commonly known as Vacant Land including alit water rights and water taps with the property., Erie, CO 80516. Grantor presently assigns to Lender (also known as Beneficiary In this Deed of Trust) all of Grantor's right, little, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a rLUnife'rm rnrnerdaal Code s e cu rl ty interest in the Personal Property and Scents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS A.N D THE SECURITY It'I•tREST IN THE RENTS A.N D PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT Qf THE INDEBTEDNESS AND (B) PERFORMANCE ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE. FOLLOWING TERMS GRANTOR'S REPRESENTATIONS ANC, WARRANT1ls, Grantor warrants that: La) this Deed of Trust is executed at Borrower's request and not at the request of Lendb , (b) Grantor has the full ;gawer, right and authority. to enter into this Deed of Trust and to hypothecate the Property; Cc) the provisions cl this Darn' of Trust do not conflict with, or result in a default under any agreement or other Instrument binding upon Grantor and du not result in a violation of -any law, regulation, court decree or order applicable to Grantor; (ci) Grantor has established adequate r'r a ris of obtaining from Borrower on -a oontinying basis Won -nation about I orroweres financial condition; and (e) Lender has made no representation to Grantor about .Borrower (including without tin -illation the creditworthiness of Borrower). GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "and=deflcie.ncy" law, or any oilier law which may prevent Lender from bringing any action against Grantor,, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement or completion of any faracllosure action, either iudiciaalIyr or by exercise. of a power of sale._ PAYMENT AND PERFORMANCE. Except as .othenwise provided in this Deed 'of Trust, Borrower shall gay to Lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Grantor shah perform all their respective obligations under the Note, this Deed of Trust, and the Related Documents. POSSESSION AND MAINTENANCE OF THE PR.QPERTY. Borrower and Grantor. agree that Borrower's and Grantor's possession and use of the Property shell be :governed by me following provisions:. Possession and Use. Until the occurrence of an Event of Default, Grantor rnay (1) remain in pos a sFon and control of the Property; (2) use, operate or rrr7 nag, the Property; and (a) collect the Rents from the Property. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perfiorm all repairs, replacements, and maintenance necessary to preserve its value, Compliance With Er;l itonrnental Laws, Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of the Property., there has been no user generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person on, under, about or from the Rropsrtyf; (2) Grantor has no knowledge of.., or mason to believe that. there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach nor violation of any Environmental La rs1 (b) any Use seneratiun, manufacture, storage-. treatment, dispose). releasecr threatened retea.se of any Hazardous Substance on, under, about or iron the Property .by any prior owners or ccc )pants of the Property, or ('c) any actual or threatened litigation or claims of any kind by any person relating- to such matters; and (S) c eptt as previously disclosed to and acknowledged by Lender in writing,. (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store., treat, dispose 'QF or release any Hazardous Substance on, under, about or from the Property; and (la) any such activity shall be conducted in urnplianoe with all applicable federal,. state* and local laws, rsguiations arid ordinances. including without iirnitatton all Environnmeinial Laws. Grantor authorizes Lander and its agents to enter upon the Property to make such inspections and tests, at Grantor's expanse, as, Lander may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shell not be construed to create any responsibility or liability on the part of Lender to Grantor or to any other person. The representations and 'warranties tuntaine d herein are based on Grantor's due dilgence in knvestisatin:c,.J tie Property for Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for indemnity: or contribution in the event Grantor beoornes liable for cleanup or other costs under any such laws; and (2) agrees to Indemnify, defend, and hold harmless s Lender against any and ell claims, losses, liabilities, damages, pensilti'es, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacturee, storage, disposal. release or threatened release occurring prior to Grantor's ownership or 'interest in the Property, whether or not the same was or should have been known to Grantor. The provisions of this section of the Deed 4252559 11/10/2016 12:14 PM Page 2 of 7 Loan NO: 200162187 DEED OF TRUST (Continued) Page 2 of Trust, including the ololleta.tion to indemnify and defend, shall survive the payment of the CridebtednEtas, and the satisfacvoon and reconveyance of the lien of this Deed of Trust and shall not be affected by Lenders acquisition of any interest in the Prior-Tarty whether by foreclosure or otherwise. Nuisance, Ware_ Grantor shall not causer. conduct or permit any nuisance nor commit, permit., or suffar any stripping of or waste on Or to the Property or any portion of the Property. Without 6irniting the generality of the foregoing, Grantor \Nali not remove, or grant to any other party the right to remove, any timber, minerals (iincluding oiland gas). coal., clay, scoria, soil, gravel or rock produals ►rnrith,out Lender's prior written consent, iRerab ral of Improvements. Grantor shall not demolish or remove any improvements from the Real Property without Lenders prior written consent, As a condition to the removal of ary improvements. Lender may require narantpr to make arrangements satisfactory to Lender to replace such improvements with Improvements of at least equal \Talkie, Lender* Right to Enter. Lender and Lender''s agents and representatives may enter upon the Real Property at .all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance v +ith the teems and conditions of this Deed of Trust. Compliance with Governmental Requirerniiints. Grantor shell promptly comply with all laws, ordinances. and regulations, now or hereafter in effect, of dl! governrnenta'I authorities applicable to the use or occupancy of the Property, including without limitation, the Americans With Disabilities Act. Grantor may contest in good faith, any such law. ordinance, or regulation and wlthhota compliance during any proceeding. including appropriate appeals, so long as Grantor has notified Lender in wrttpng prior to doing - so and so long as, in Lender's ante opinion. Lender's interests in the Property are not jeopardized. Lerner may require Grantor to post adequate security or a -surety bond, reasonably satisfactory to Lender, to protect Lenders interest, Duty to Protect. Grantor agtee4 neither to abandon or leave unattended the Property_ Grantor shall do all other acts, in addition to these acts sat forth above- in this section. which from the character and rise of the Property are reasonably necessary to protect and preserve the Property. nstruction Loan. If snore or all of the- prooatfl rot the loan creating the Indebtedness are to be used to construct or complete construction of any irnpr overnerrt on the Property, the Improvements shall be completed no late- than the maturlitsr dare of the Note (or such earlier date as- Lender may reasonably establish) end Grantor shall pay in full ail costs and expenses in connection with the Work.. Lender will disburse loan prceds under such terms and conditions as Lender rnay dam reasonably neneseeere try insure that the interest crated by this !mod of Trust shell have priority over all possible liens, inducting those of material suppliers and worlcrnenk Lender may require, among other things, that disbursement requests be supported by receipted bills, expanes -affidavits, waivers of liens, eonstruebQn progress reports, {� such other documentation as Under may reasonably req u est. DUE ON SALE - CONSENT BY LENDER. Lender may. at Lender's option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender's per©r written consent, of all or any pat of the Peal Proper, or any interest in the Real Property. A 'sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal, benafiicfar or equitable; whether voluntary °r involuntary: whether by outright sale. deed.. Installment sale contract, land contact, contract for deed. leasehold interest with a term greater than three (3) years, lease -option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property. or by any other method of conveyance of ₹an interest in the Real Property. If any Qrantwr is a corporation, partnership or limited liability company, transfer also includes any change In ownership of more than twenty-fve percent (25%) of the voting stook, partnership, Interests or limited liability company interests, as the case may be, of such Grantor. i-lovv°evsr, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by Colorado law. TAXES AND LIENS. The followvin r provisions relating to the taxes and liens on the Property are part of this Deed of trust Payment. Grantor shell pay when due (and in all events ,prior to delinquency) alt taxes, special taxes, assessments, charges (Including water and sewer), fines and impositions 9e`vi+ed against or on account of the Property, and shall pay when due air claims for work done on or for services rendered or material: furnished to the Property. Grantor shaft maintain. the Property free of aill liens having priority over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due. except for the Existing Indebtedness referred to below, and except as otherwise provided in this Deed or Trust_ Right to Contest Grantor may withhold payment of any 'tax, assessment, or c[airtt in connectIon with a good faith dispute over the 'obligation to pay, so long as Lender's interest in the Property is not jeopardized'. If a lien arises or is filed as a result of nonpayment, Graini©r shall within fifteen (15) days atter" the lien arises or. If a lien i;9 tiled, within fifteen (15) days after Grantor has notice of the fling. secure the discharge of the lien, or if reque.st.ed by Lender, deposit with Lender cash er a sufficient corporate surety bond or other security setlstactowryh► to Lawler In en amount sufficient to discheelle the lien plus any costs and attorneys' feels, or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend 'Itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. 'Grantor shall name Lender as an additional obligee under- any surety bond furnished, in the contest proceedings. Evidence of Payment, Grantor shell up ,n demand furnish to Lender-atisfactForyr evidence of payment of the taxes or asseSSMents and shall authorize the appropriate, governmental at'l`Icia.l tot deliver to Lender at any time a written statement of the t.axes and assessn nts against the Property. Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services am furnished, or any materials are supplied: to the Property, if -a.ny, mechanic's lien, materialrnen's lien, or other lien could be asserted on acr unt Oct the work, se ices, or materials. Grantor will upon reque& of Lender furnish to Lender adVancle assurances satisfactory to Lender that Orantor can and will pay the cost of such improvements., PROPERTY DAMAGE INSURANCE., The following provisions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance. Grantor shall procure and maintain policies, of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering ng all improvements on the Real Property in an amount sufficient to avoid applicator of.any coinsurance clause, end with a standard mortgagee clause in favor of Lender Grantor shal t also procure and maintain comprehensive general liability{ insurance in such coverage amounts as Lender may request with Trustee and Lender being earne0 as additional insureds in such liability insurance policies. ,Additionally, Grantor shall maintain such other insurances -Including but not limited' to hazard, business interruption, and boiler insurance. as Lender may reasonably require Pellicles shall be• written in form, amounts, coverages and basis reasonably acceptable to Lander and issued by a company or companies reasonably acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender. including sbipuCatit its that covorages will not be =needled or diminished without al least ten On) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor ot Lender will not be impaired in any way by any act, omission or default of Grantor or any other person. Should the Real Property be located in an area deieignatied by the Admilnistrator of the Federal Emergency Management Agency as a special flood heyard area, Grantor agrees to obtain and maintain Federal Flood intturanc2,. if r FlabNe, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the rnaxirniurn polity limits set under the National Flood insurance Program, or as :otherwise required by Lander, and to maintain such Insurance for the terra of the loan. Application of Pro ee , Groner shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss tit Grantor fails to do so within Steen (15) days of the casualty. Whether or not Lender's security is unpaired,, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction ot The 4252559 11110/2016 12:14 PM Page 6of7 Loan No: 200162157 DEED OF TRUST (Continued) Page 6 action, permitted by law to discontinue such activities_ Notwithstanding anything In this Deed of Trust regardIng the right to cure Events of .'Default, upon the cceurren of - an Event of Default under this section, Lender may immediately exercises any or all of its available rernediee as set forth in this Deed of Trust Grantor hereby agrees to indemnify, defend, and hold harmless Lender against any and all claims. lo=ses, Iaiablli't>!es. darn ages. penalties. and expenses which Lender may directly or indirectly sustain or flitter metilting from a broach of this Section of the Dead of Trust or as a ceansnqucnne of any Prohibited Activities cif they P'iroperty. whether r nc t the same was or should have been known to Grantor. This indemnity Includes, wr,+aithaauit limitation, any ga�verrlr-r entail a1Cia n for seizure or forfeiture of any Property (with or without compensation to Lender, and whether or not Property Is taken -frau of or subject to Lenders hen or security interest). Notwithstanding anything herein to the contrary. the liabilities and Indemnifications provided hereunder on the part of Grantor ,shall not apply to any actions taken or omissions by Lender after asserting dominion and control pursuant to foreclosure of the Property... RELEASE PR.OViSION. The release provision for the lots will he the higher of lOq% of net proceeds after real'tcar costs or 120% of PAR. Also, if the subject Letter of Credit Is outstanding,. sufficient r+ollateral must remain in place in the firs of kit coverage or cash. MISCELLANEOUS PRL7VlSIONS. The following miscellaneous provisions are a part of this Deed of Trust; Amendments_ This Deed. of Trust, together with any Related Documents; constitutes the entire understanding and agreement of the parties az to the matters set forth In this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given In writing and signed by the party or partiEs sought to be charged or bound by the alteration or amendment. Aj ntal Rapport .. Lt the Property is lad for purport other than Grantor's residence, Granter furnish to Lender. upon request, a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such fen -et and detail as Lender shall require. "Net operating income" shall mean all cash reoeipte from the Property less all caste; exp-enditures media In connection with the operation of the Property. Caption Headings. Caption headings In this Deed of Trust are for convenience purposes only and are not -to be used to interpret or define the provisions of this Deed of Trust Merger. There shell be ro merger of the interest or estate nreeted by this 'Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity., without the written consent of Lender. Governing Lew_. This fled of Trust wilt he governed by federal law applinabia to Lender and, to the extent not preempted by federal Iarav, the ?saws of the State of Colorado without regard to its conflicts of taw provisions. Thus Deed of Trust has been accepted by Lender In the State of Colorado. Joint and S.evetrar Liability. All obligations of Borrower and Grantor under this geed of Trust shall be joint and several, and all reference to Grantor shalt mean each and every Grantor„ and all references to Borrower shall Haan eacfi and every Borrower, This means that each Grantor signing below is responsible for all obligations in this Deed of Trust Where any one or more of the parties is a corporations partnership, limited liability company or slrnitar entltj. it Is not necessary for Lender to Inquire into the powers,of any of the officers, directors. partners, me.nribers, or other agents acting or purporting to act on the entity,.% behalf, end any obligations made or created in reliance upon the professed acereise of such powers shall be guaranteed under this Deed of Trust, No Waiver by Lender. Lander shell not be deemed to have waived any rights Under this Deed of Trust unless such waiver is given In writing and signed by Lender, No delay or egntssicn on the pert at Lender in svaarcEstng any right snail operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to d.r rrerrd strict compliance with that provision or any other provision of this. Deed of Trust, No prior waiver by Lender-, nor any course of dealing between Lender and Grantor? shake constitute a Waiver of any of Lenders rights or of any of Grantor's nbligatiens as to any future transactions, Whenever the consent of Lender is required under this - Deed of Trust,. the granting of such consent by Lender in any instance shall not constitute: continuing consent to subsequent instances where aaa.ach cortsent is required and In all cases such consent raew ha granted am withheld in the sole discretion of Lender. Severability. if a court of competent jurisdiction finds any provision of this Deed of Trust to be Frvalid, or unenfoociaable es to any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other cirrcun tancez if feasible. the offending provision shall be considered modified so that it becomes legal', valid an€1 or stele. if the offending provision cannot be so modified, ft shall be considered deleted from this Deed of Trust_ Unlees otherwise required by law, the illegality„ invalidity. or unenfcrceabillty of any provision of this Dead of Trust shall not affect the legality-. validity Or enforceability of any other provision of this Deed of Trust. Suctessors and Assigns. Subject to any lirnitat.ions stated in this Deed of Trust transfer of Grantor's Interest, this [Dead et Trust shall be binding up -an and inure to the benefit of the parties, their successors and ;assigns_ if 'ownership of the Prcipartyr becomes vested in a p-erson other than rancor, Lander, without notice to Ur.antor. may deal with Grantor's successors with reference. to this 'Deed of Trust and the Indebtedness by ways of forbearance or extension without r easing Grantor from the obligations of tints Deed of Trust or liability under the indebtedness. Time Is of the Essence. Time is of the essence in the: performance of this Deed of Trust. Waiver of Homestead Exemption. Grantor hereby reFe-.ses and waives Si rights and benefits of the homestead exemption ia.ws of the State of Colorado es to all Indebtedness secured by this Deed of Trust DEFINITIONS. The following capitalized words- and deans sha.N have the following meanings when used in this Reed of Trust. Unless specifically stated to the contrary, sill references to dollar amounts shah mean ,arnounis in lawful money of the UnRted States of America. Words and terms used In the singular shalt include the plural1 and the plural shall include the singauiare as the centred may require. Wands and terms not otherwise define -d In this Deed of Trust shell have the meanings attributed to sigh terms In the Uniform Commercial Code: Benet5ctary. The word "Beneficiary's means Citywide B .nEcs, ar4 its succ-essors and assigns. Borrower; The word "S,orrowsr means Colson Inc: and Bowman carp and includes aatli ceeeigners and co -makers signing the Note and all their sUacessers and assigns. Deed of Trust. The wands "(peed of Trost' mean this Deed of Trust. among Grantor, Leritser, and Trustee, an inciedes Without limitation all sssi:gnrnent and security interest provisions relating to the Personal Property and Rents, Default The word "Default" means t.ha Default set forr't.h in this Deed of Trust in the section titled "Default". Environmental Laws_ The wards "Environmental L9Ws" rnean any and all state. federal and local statutes, regulations and ordinances relating to the protection of human health or than envarn,nrraent, including without limitation the Comprehensive Errvironmental Response. ornpensation; and. Liability Act of - 1980, as amended. 42 LI,$,C, Section 9601, et seq. (s'CERCi..A"), the Supeerfund Amendments and Re:authorization Act of 1986, Pub, L. No.. 99-499 ("_SARA"), the Hazardous Materials Transportation Act, 49 U.S.G. Section 1801, et seq.., the Resaurcze Conservation and Recovery Act, 42 U.S.Q. Section 690'1, et seq_, or other iapolicabie state or federal laws, rules, or regulations adopted pursuant thereto_ Event of Dsfaaalt. The words "Event of Default" mean any of the events of default set forth in this Deed of Tro.ist in the events of default section of this Deed of Trust. Existing indebtedness_ The words "Existing Indebtedness" mean the Indebtedness de seribed in the Existing Liens provision' of 4252560 11 /10/2016 12:14 PM Total Pages: 4 Rae Fee: $26.00 Carly Koppel - Clerk and Recorder, Weld County, CO RECORDATION! REQUESTED BY: Citywide Banks PO Box 128 Aurora, CO 8OQ4fi-0128 WHEN RECORDED MAIL TO: Citywide Banks PG Box 1 28 Aurora, CO 80040 FOR RECORDER'S USE ONLY ASSIGNMENT OF RENTS MAXIMUM PRINCIPAL AMOUNT SECL.II U_ The- Lieu of this Assignment shall not exceed at any co -me. time ,a4451,000.00 ,OCO.CD except as altowwed under applicable Colorado 3aw._ THIS ASSIGNMENT OF RENTS dated November 7, 2016, is made and executed between Colson Inc., whose address is 2057 Heritage Place, Erie, CO 80516-4049 (referred to below as"Grantor") and Citywide Banks, whose address is PO Box 128. Aurora, CO 80040-0125 (referred to below as "Lender"). ASSIGNMENT. For valuable consideratlon# Grantor hereby assigns, grants a continuing security interest in, and conveys to Lender all of Grantor's rights title; and interest in and to the Rents from the following described Property located in Wetd County, State of Colorado: LOTS 1 :7p INCLUSIVE, AND OUTLOT A AND OUTLOT B, LONGS PEAK ESTATES P,rtle _, COUNTY OF WELD, STARE OF COLORADO. The Property or its address is commonly known as Vacant Land including all water rights and water taps with the property., Erie. CO 80516. his ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF BORROWER R AND GRANTOR UNDER THE NQTE,, TI1I5 ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: GRANTOR'S WAIVERS, Grantor waives all righLs or de%atlas arising iby reason of any "'one action" or "ant-defLciencyrn lo,vyr, or any other law which may prevent. Lender frame bringing any action against Grantor, 'including a claim for defcien tli to The extent Leiner is othenivise entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale_ BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction 'Lender takes in connection with this Assignment. (3orrower essernea the responsibility for being and keeping informed about the Property. Borrower Waives any defenses th6t may_ arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the Property. Borrower agrees to remain liable under the Note with Lender no matter what action Lender takes or falls to take under this Assignment PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment er arty Related Documents, Grantor shall pay to Lender all amounts secured by this Assignment es they become due, and ill strictly perform all of Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided be]eow and so long as there is no default under this A.ssignnent, Grantor may remain In po sslon end control of and operate and manage the Property and collect the Rents. provided that the granting of the right to collect the Rents shall not constitute Lenders consent to the use of cash catlateral to a bankruptcy proceeding_ GRANTORS R.EPftESENTATIONS AND WARRANTIES. Grantor warrants that Ownership_ Grantor is entitled to receive the Rents free and clear of a1J rights, loans, liens, encumbrances, and claims except as disclosed to and accepted by Linder- in vvritir fi Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and convey the Rents to Lender.. No Prior Assignment. Grantor has not pravlousIy a.zasigned or conveyed the Heats to ary other person by any instrument new In. force. No Further Transfer. Grantor will not sell, :&sign, encumber,. or otherwise dispose of any of Grantor's rights H the Rents except as: provided In this Assignment, LFN[ ER`.B RIGHT TO RECEIVE AND COLLECT RENTS.. Lender shall have the right .at any time, and even though no default Frail have 000urred under this Assignment, to collect and reculva the Rents. For this purpose, Lander Is hereby given and granted the following rights, powers end authentic N:otIce to Tenants. Lender may send notices to any and all tenants or the Property adv'J.s,ing them of this Assignment and directing all Rents to be paid directly to Lender or Land =r's agent., Enter the Property, Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from any other persons liable therefor, all of the Rents: Institute and carry on all legal proceedings necessary for the protection of the. Property, including such pproceedings as may be netessaryr to recover pc's ession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property, Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; to pay the costs thereof and of ell services at all employees, including their equlprlrrient, and of sit continufrig costs and expenses of maintaining the Property in proper repair and c-ondition, and all -o to pay all taxes, assessments and water utilities., and the premiums on fire and other insurance effected by Lender on the Property. Compliance with Lawns, Lender may do any and all things to execute end comnpiy with the laws cif the Stale of Coil:wade and also all other laws, rules, orders, ordinances and requirements of all other goverrimentaf agencies affecting the ,Property. Lease the Property_ Lender may rent or lease the whole or any part of •thy= Property for such term or terns and on such conditions as Lender may deem appropriate,. ;Emptily Agents- Lender may engage such agent or agents as Lender may dean appropriate, either in Lend'er's name or in Grantor's name, to rent and manage the Property, including the collection and application of Rents_ Other Acts. Lander may do all such other things and acts with respect- to the Property as Lender may deem appropriate and may act exclusively and sol&ly► In the plena and stead of Grantor and to have all of the powers of Grantor k r the purposes stated 4252560 11/10/2016 12:14 PM Page 2 of 4 ASSIGNMENT OF RENTS Loan No: 200162i.87 (Continued) Page 2 above_ No Requirement to Act Lender shall not be required to de any of the foregoing acts or things, and the fact that Lender shall have performed one or more of the foregoing acts or tt rigs star not require Lender to do any other specific act or thing. APPLICATION OF R.ENTS, All costs and expenses Incurred by Lender er in connection, with the Property shall be for Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sots discretion, shall determine the application of any and all Rents received by it; however, any such Rents received by. Lender which are not applied to such costs arid pences shall be applied to the Indebtedness. AP expenditures. made by Lender under this Assignment and not reimbursed from tha Rents shall become a part of the indebtedness -:secured by this Asalgnrnent, and shall be payable on demand, with Interest at the Note rate tiro -r date of expenditure until paid. FULL PERFORMANCE, If Grantor peys ail!' of theIndebtedness when clue and otherwise performs all the obligations Imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor is suitable satisfactio-n Of this Assignment and suitable statements ©t termination cf any financing statement on frie evidencing Lenders security intennst in the Rents anti the Property. Any terminator fee required by law shall be paid by Gra.rtor, if permitted by applicable taw, LENDER'S EXPENDITURES. If any action or proceeding is: caarnmericed that would materially affect Lender's interest in the Pnapertyr or 1f Grantor falls tip rrnply vw+ttsh. any provision of this Assignment or any Related Documents, including but not iirr,ited to Grantors failure to discharge or pay when due any arnounts Grantor is required to discharge or pay under this Assignment or any Related tocurrwNnts, Lender on GrarttorI's behalf may (but shall not be obligate to) take any action that Lamer deems apsproprriater including but not limited to discharging or paying ail taxes¢ liens, security interests. enotirnbrance.s and other anima, at any time levied or planrd on the Rents or the Property and paying ail ccsts for insuring, rnahtaining and preserving the Propeiity% All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the data incurred nr paid by Lender to the date of repayment by Grantor.. Ali such expenses vwill beocirrie a part of the Indebtedness and. at Lender's option. will (A) be payable on demand; (6) be added to the balance cf the Note and be apportioned among and be payable With any installment payments to become due during either (1) the term of any applicable insurance policy; Qr (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. ty. The Assignment also Mil secure paymAnt of these amounts_ Such right shall be in addition to all oilier tights and remedies to which Lender may be entitled upon iDefautL DEFAULT. Each of the following., at Lender's options shalt constitute an Evert of Default ttndar this Assignment Payment Default 8erro er falls to make any payment when due lender the Indebtedness. Other befau ts. Borrower or Grantor falls to comply with or to perform. any other tern, obligation, covenant or condition contained in this Assignment or in any of the dated Documents or to comply with or to perform any tern, obligation. covenant or condition contained in any other agreement between Lender and Sorrowarr or Grantor_ Default on Other Payments. Failure of Grantor within the time required by this Asslgiinnent to make any payment for tarter or- Insc,irance, or arty other payment 'necessary to prevent filing of or to effect discharge of any lien_ Default in Fever of Third Parties. Borrower, any guarantor or Grantor defaults under any loan, a terrslun tit credit, security agreement:, purchase or sates agreemnrit, or any other agreement In favor of any other -creditor or person that may materially affect any of Borrowers, any guarantor's or Grantor's property or abllity to perform their respective obrigaticris under this Assignment or any of the Related Documents, False Statements„ Any warranty,, representation or statement made or furnishod to Lander by Borrower or Grantor or on Borrower's or Grantors behalf under this Assignrnent or the Related Ooc-umantr is false or rn sleading in any material respect, ewer now or at the time made or furnished or becomes false or misleading at any time thereafter_ Defective Collaterallzstion. This Assignment or any of the Rctla.ted Documents ceases to be in full force and effect (including failure of any c 1tateral document to create a valid and perfected senurity interest or lien) at any tirne and for any reason. Insolvency. The dissolution or termination of Borrower's or Grantor's existence as a going business, the insolvency of Borrower or Grantor. th.e appointment of a rev iver for any part of Borrrower's or Grantor's properly, any assignment for the benefit of ed'itor's, any type of creditor workout, or the corrnrnencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or G ra ntor Creditor or Forfeiture Proceedings. Commencement of fornciosune err forfe tore proceedings., whether by judicial proceeding, self -helot re n lion or any other method. by any creditor of Bonrtwer or Grantor or by any governmental agency against the Rents or any property securing the Indebtedness. This includes a garnishment of eny of Borrower's or Grantor's accou.nts., including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Eorwwer or Grantor as to the validity or reasonableness of the dales, which i-s the: basis of the creditor or forfeiture proceeding and If Enrrow►er or Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits. with Lender monies or a surety band for the creditor or forfeiture proceeding, in an. amount rdsterr road by tender, In its sole discretion, as being an adequate naserva or bond for the cJ i,spute. Property Damage or Loss, The Property is lost, atois.n, substantially damaged. sold, Of borrowed against.. Events Affecting Guarantor, Any of the preceding events occurs with respect to any Guarantor of any of the lindebtsdre or any Guarantor dies or becomes. s. incompetent, or revokes or disputa% the validity of, or liability under, any Guaranty of the Indebtednes. Ad'vers;ra Change. A material adverse change occurs in Grantor's financial condltFon' or Larder believes the prospect or praYnnent or ourformance of The Inciebtedne.ss is irnpa9reti. Insecurity. Lender ire., goad faith believes itself insecure, RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence curr•ence of any Event of Default and at any time thereafter, r, Lender may exercise any one or more of the following rights and remedies. in addition to any other rights or rerrmcdies provided by law: Accelerate Indebtedness, Lender shall have the right at tts option Without notice to Borrower or Grantor tc declare the entire Indebtedness- Immediately due and payable, including any prepayment penalty that narrower would be required to pay. Collect Rents, Lender shall have the right, without notice to Borrower or Grantor' to take possession of the Property and collect the Rants, including amounts past due and unpaid, and apply the net proceeds. over and a,b:ove Lender's costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights provided for in the Lender's Right to Receive and Collect Rents Section, .'boos_ If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Sr-antor's attorney -in -fact to endorse instruments received in payment thereof in the name of Grantor and. to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations tor which the payments are made. whether or not any proper 'rounds for the demand existed. (Lender may exercise its rights under this subparagraph either in person, by agent, cr through, in receiver. Appoint Reticeiver. Lender shall have the right to have a receiver appointed to take possession of Si nr any part of the Property, +y, with the power to protect and pre-erve tha Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply- the proceeds, over and above the cost of the .sec h+-ershiip, against the indebtedness.. The re-ceiver may scree without bend if permitted by law. Lender's right to the appo$tilnlent of a receiver shall exist whether or not the apparent value of the Property ext suds the Indebtedness by a substantial amount: Employment by Lender sell not disqualify a pecsor from serving as a receiver. Recetver may be appointed by a court of competent Jurisdiction upon rx parte application 4.25 560 11/10/2016 12:14 PM Page 3 of 4 Loan No: 200162187 ASSIGNMENT OF RENTS (Continued) Page 3 and withbut noire, notice being expressly waived. Other Remedies_ Lender shall have all other rights and remedies provided in this A ignrneni or the FJote or by Law. Electron of Remedies. Election by Lender to pursue any remedy shalt not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obiYgation G7t Crairilnr under this Assignment, after Grantors 'allure to pertomri. X11 not affect Lender's right to declare a default and exercise its remedies_ Attorneys' Fees; Expenses. If Lender forecloses or institutes any suit or action to' enforce any of the terms of this ignmertt„ Lender shall be entitled to recover such stern as the court my acturigie rgasOnable as ittnmeys' fees at trial and upon any appeal_ Whether Or not any court action is involved, end to the extent net prohibited by law, all reasonable expenses Lender incurs that in Lenders opinion are my at any 'ante for the protection of its interest or the enforoeiment of its rights shall become a part of the indebiednrfi payable on demand and shall bear interest at the Mote rate torn the date of the expenditure until repaid. Experts -vs covered by this paragraph include, without limitation, however subject to any llimits kinder applicable, law, Lender's attorneys' lees whether or not there is a lawsuit, including attorneys' fb; and expenses for bankruptcy proceedings (including efforts to modify or vacate and. automatic stay or injunction), appeals; and any anticipated pest-judgment'collection services, the cost of searching records, obtaining title reports (inducting foreclosure reports), surveyors" reports, and appraisal foes, title insurance,. era tees for the Trustee. to the extent permitted by appli N6s. law. Grantor also will pay any court casts. in addition to all other su ms provided by taw.. MISCELLANEOUS PROVISIONS. The follwding miscellaneous provisions area part of this Assignment Arnencl+nnen.ts. Theis Assignment. together With arty Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth In this Assignment_ No alteration of or amendment to this Assignment shall be effective unless given in Writing and signed by the party or parties sought to be charged or bound by the sltstatiOn or amendment. Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to be used to interpret or done the provisions of this Assignment. Governing. Law. This Assignment wilt bra governed by federal law applicable to Lender and. to the extent not preempted by fsdonl. law, the lows of the State of Colorado without regard to Its conflicts of law provisions-. This Assignment has been accepted by *Lender in the State of Colorado. Joint and Several Liability. All obligations of Borrower and Srantor under this A-ssiginment shall be joint and several, sod all reference.s to Grantor _shall mean each and every Grantor. and atl refere.noes to Borrower shall mean each and every 8arrower_ This means that each Grantor signing below is responsible for all obligations in this Assignment, Where any one or more of the parties Is a corporation, partnership, limited liability company or similar entity, It is not necessary for Lender to inquire into the powers ref any of the officers, directors, partners, members, or other agents acting or purporting to act ion the entity's behalf, end any obligations made or created in reliance upon the professed exercise of such powers shall be guarantee -d under this Assignment. Verger, There shell De no merger of the Interest or estate crested ay trues Asfiigttrnent with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity, without tha written consent of Lender. Interpretation. (1) in all cases where there is more than one Borrower or Grantor, then an words used in this ,Assignment in the singular shall be deemed to have beery used In the: plural where the context and construction so require. (2) If more than one person signs this Assignment as "'Grantor," the Obligations of each Grantor are joint and several. This means that if Lender brings a lawsuit, Lender rray sue any. one or more o( the C-antors_ If Snrrower and Grantor ere not the gone person, Lender need not sue Borrower first, and that Borrower need moat be gained in any lawsuit. {UI) The narnes given to parajr-a,ph-s }r' sections in tills Assignment are for convenience purposes only, 'They ere not to be used to interpret or define the provissiorns of this Assignment, No Waiver by Lender. Lender shall not be da rned to have waived any rights under this Assignment unless such waiver is given in welting and signed by Lender No delay or omission: on the part of Lender in exercising any right shall operate as a waiver of such right gar any other right. A waiver by Lender of a. provision of this Assignment shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision -of this Assign nnen t_ No prior rrva.k ter by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lenders rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender Es required under this Asslonment, the granting of such consent by Lender in any, instance shall not ,cor1.stitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or Withheld In the- -sole discretion of Lender. Notices. Any, notice required to be given under this Assignment shall be .given in writing. and shall be effective when actually delivered:, when actually receivat by tetefacslrnlle (uriless otherwise required by law), when deposited with a n,ationaliy recognized overnight courier, or, if mailed, when deposited in the United States mall, as first class, certified or registered mail postage prepaid, directed ta the- addresses shown near the beginning of this Assignment. Any party may change its address for notices under this Assignment by gkoing formal written not.icxa to the other parties, specifying that the purpose of the notice is to Change the party's addresi. For notice purposes, Grantor agrees to keep Lender informed at all tirnes of Grantors current address. Unless otherwise provided_ or required by law, if there Is more than one Grantor, any notice given by. tender to any Grantor Is deemed to be notice _given, to Rill Grantors. Powcirs to Attorney. The various agencies and powers of attorney conveyed on Lender under this Assignment are granted for purposes cif security and may not be revoked by Grantor until such, ilme as the same are renounced by Lender_ Sevrenbldlty. If a court of competent jurisdiction finds any pcovisfon of this Assignment to be illegal, invalid, or unenforceable - to any circumstance, stance, that trading shall not make the offending provision, illegal, invalid, or unenforceable as to any tither circumstance. N+i feasible, the offending provision shall be considered modified so that it becomes regar, valid and enforceable. If the offending provision cannot beta modified, it shall be considered deleted Thorn this Assignment Unless otherwise required by law, the illegality, invalidity, or unenforosability of any provision of this Assignment shall not affect the legality,, validity or enforceability of any other provision of this, Assn antnent. Successors and Assigns. Subject to any lirnitetIons stated in this Assignment on transfer of Grantor's interest, this Assignment shall be boding- upon and b-vure to the benefit of the parties, their su ors and; assigns if ownership of the Property beoomes 'vested in a person other than Grantor. Lender. without notice to Grantor, may deal with Grantor's sucoe.r2sors, with referenda to this. Assignment and the Indebtedness by way of forbc•nrance or extension without re.le-asingg Grantor from the obligations of this Assignme:nt or liability under the Indebtedness. lime is of- the enema. lime is of the essence in the performance of this Assignment., Waiver of Homestead Exemption.. Grantor hereby, releases and waives all rights and .benefits of the homestead exemption laws of the Stale of Colorado as to sill Indebtedness secured by this Assignment. Waiver of Right of Redemption. NOTWITHSTANDING AN'Y OF THE PROVISIONS TO THE CONTRARY CONTAINED IN THIS ASSIGNMENT, GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OP REDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE ON GRANTOl 'S BEHALF AND ONi BEHALF or EACH Amin EVERY PERSON, EXCEPT JUDGMENT CREDITORS trlF GRANTOR, ACQUIRING ANY INTEREST iN OR TITLE TO Tl-lr, PROPLRIT( SUBSEQLJIS%IT TO THE DATE OF THIS ASSIGNMENT. oEntirnoNs. The itlittning capitalized words any terms shah have the following meanings when used in this Assignment. Unless 29 30 31 32 33 34 35 3 37 38 39 40 41 42 43 44 45 46 17 Ia 49. 50 52 53 55 4252552 11/10/2016 12:14 PM Total Pages: 13 ec Fee. $711D0 Carly Koppes - Clerk and Recorder. Weld County, CO The printed portions ofthis form, execf differentiated dons} have been approved by the Colorado Estate Commission, 2 (TD72-Ka1 O) (Mandatory 1-1 1) 3 4 IF THIS PO IS USED IN A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL 5 THIS IS LEGAL INSTRUMENT. IF NOT UNDERSTOOD, B1GAL, TAX Ott OTITER COUNSEL SHOULD BE CONSULTED 6 BEFORE SIGNING. 7 8 DEED OFTRUST 9 (Due on Transfer Strict) 10 11 THIS DEED OF TRUST is made this 7th day of Novembers 2016 been COLSON, INC., a Colorado corporation 12 (Borrower), whose address is 2057 Heritage PPlace. Brae,Solorado 8_0516; and the Public Trustee of the County in which the 13 Property (see § 1) is situated (Trustee); for the benefit of CAROL A_ PROPP and DARYLL - PROPP, as joint tenant with 14 ri gh is of survivorship (Lender), whose address is 2278 Holly Courts Golden Colorado 80401. 15 16 17 Borrower and Lender covenant and agree as follows: 1 s I . Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein created, hereby 19 gants and conveys to Trustee in trust, with power of sale, the following legally described property located in the 20 County of Weld, State of Colorado: 21 22 Lots 1-7 Inclusive and O►utlots A and B, Longs Peak Estates PLLLLIL, County of Weld, Stale of Coiurado 23 24 known as No. Vacant Land - (Property Address), 25 Street Address C ity State zip 26 together with all its appurtenances (Property). 2- Note: Other Obligations Secured. This Deed of Trust is given to secure to Lender: 2.1. the repayment of the indebtedness evidenced by Borrower's note (Note) dated November 7, 2016 in the principal sum of. ONE LLION ONE HUNDRED THOUSAND AM) 00/100 Dollars ,S. $ 1,100,000.00), with no interest thereon until November 7, 201 K. Commencing on November 7, 2018, interest shall accrue uii all outstanding principal amounts at the rate of three percent (3M%) per annum.. All payments of principal and interest shall be payable at 2278 dolly Court, Golden, Colorado 80401, or such other place as Lender may designate, On the date of this Note, Colson, Inc, has simultaneously closed on a Loan in the approximate amount of $459,000 from Citywide Bank ("Bank") tomodeciistruetfon of finished lot improvements on the real property described in paragraph 8 of this Note (the 'Construction Loan"). Each of the lots referenced in paragraph 8 of this Note are herein referred to as a "Lot" and collectively the "clots." Not including the sale of a Lot to Drayson Bowman, upon the closing of the sale of each Lota Borrower shall pay to Bank all proceeds required by Bank to repay in full the Construction Loan to Bank, Once the Construction Loan is paid in mull, then Borrower shall pay to Lender S210,000 from each Lot that is therreafter. sold, provided that said $210,000 amount shall be increased on the sale of the last Lot as required to ensure that Lender is repaid infull by the sale of the sixth Lot sold. Not including the Lot to he sold to Drayson Bowman, there are six Lots to be sold to third parties. 1't is anticipated that the Construction Loan will be repaid with the proceeds from the sale of the first of such six Lots sold and a small portion of the proceeds from the second Lot sold,Aeceitingly, it is anticipated that Lender will be paid $210,000 from the sale of the second, third, fourth and fifth Lot and. 260,000 from the sale of the sixth Lot sold, plus such additional amount from the sale of the sixth Lot as necessary to pay any accrued interest under this Nate, 'The funds from the closing on the sale of such Lots that are owed to .ender shall be paid to Lender directly from the proceeds at Closing from the title company el cis ire L such sale, in exchange for a partial release of Lender's Deed of Trust with respect to the Lot sold.. Any Lot sale proceeds paid to Lender shall be applied first to any accrued interest and then to reduce the principal amount of the Note. Borrower is obligated to repay to Lender the entire amount of principal and interest owing under this note,: regardless of the sale prices of the Lots. Notwithstanding nding anything contained herein to the contrary, if not sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable on the earlier of (1)November 7, 2019, or (ii) the closing an the sale of the last Lot, In addition to the foregoing, in the event the aggregate gross sales prices of all seven (7) of the Lots is in excess, of Two Million One Hundred Thousand Dollars ($2,100,000.00), then Borrower shall pay to Lender directly from the proceeds of the Lot sales .fib percent (50%) of the excess over $2,100,000,00, until Borrower has paid Lender an additional One Hundred Thoand Dollars No. fl l214 Os DEED OF TRUST (Dude nu Transfer — Strict) Flat 1 of? 4252562 11/10/2016 12:14 PM Page 2 13 56 ($100,000.00). After Borrower has paid Lender an ad ional $100,000.00 pairsu.0 t to the foregoing, sentenoe,, Bon Dwer shall have 57 the right to retain any additional proceeds in, excess of ,l00,000_00. The additional S100,000.00 is in addition to Borrower's full 58 rep.ayrnent to Lender of the loan amount and any accrued interest and sball constitute additional amounts due and owing under this 59 Note. Other than the sale of one Lot to Drayson Bowman for $282,000, all Lot sales shall bearms-length Transactions with 60 independent third parties: The sales prices of all Lot sales shall be subject to the prior approval of Lender, not to be unreasonably 61 wif held and .shall be for the fib fair market value of each such Lot, Etorrovver shall provide all closes documents, settlement 62 statements., tax returns, internal accounting and any other documentation requested by Lender to determine and calculate the 63 aggregate gross sales prices of each of the Lots_ 64 2.2. the payment of all other stuns, with interest thereon at 12% per annum, disbursed by Loader in .accordance 65 with this Deed of Trust to protect the security of this Deed of Trust; and 66 23. the performance of the covenants and agreements of Borrower herein contained. 67 3. Titles. Borrower covenants that Borrower owns and has the right to grant and convey the Property, and: warrants title 68 to the same, subject to general real estate taxes for the current year, easements of record or hi existence, and recorded 69 declarations, restrictions, reservations anti covenants, if any, as of this date, and subject to those exceptions to title listed on 70 Exhibit A attached hereto and incorporated herein by this reference. 71 4. Payment of Principal and Interests Borrower shall promptly pay when due the principal of and interest on the 72 Indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all of Borrower's othei 73 covenants contained in the Note. 74 5., Application of Payments. All payments received by Leader under the terms hereof shall be applied. by Lender first 75 in paymentof amounts due pursuant to § 23 (Escrow Funds for Taxes and Insurance), then to amounts disbursed by Lender 76 pursuant to § 9 (Protection of Lender's Sect), and the balance inaccordance with the terms and conditions of the Note. 77 6y. Prior Mortgages and. Deeds of Trust; Charges; Liens. Borrower shall perforn all of Borrower's obligations 78 under any prior deed of i ust and any other prior liens. Borrower shall pay all taxes, assessments and other barges, fines and 79 impositions attributable to the Property which may have or attain a priority over this Deed of Trust, and leasehold payments or SO ground rents, if any, in the manner set out in § 23 (Escrow Funds for Taxes and Insurance) or, if not required to be paid in such 81 manner, by Borrower mfg payment when due, directly to the payee thereof. Despite the fan going, Borrow ll not be 82 required to make payments otherwise required by this section if Borrower, after notice to Lender, shall in good faith contest 83 such obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of S4 the obligation or forfeiture of the Property cr any part thereof, only upon Borrower making all such contested payments and. 85 other payments as ordered by the court to the registry of the court in which such proceedings ;are i ed. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected en the Property 87 insured against loss by fire or herds included within the term "extended coverage" in an amount at least equal to the: lesser of F,8 (a) the insurable value of the Property or (b) an amount sufficient to pay the SUMS secured by this Deed of Trust as well as any 89 prior encumbrances on the Property. All of the foregoing shall he known as ".Property Insurance." 90 The insurance carder providing the insurance shall be qualified to write Property Insurance in Colorado and shall be chosen 91 by Borrower subject to Lender's right to reject the chosen carrier for reasonable causer All insurance policies and renewals 92 Thereof shall include a sPmdarcd mortgage clause in favor of Lender, and shall provide that the insurance car shall notify 93 Lender at least ten (10) days before cancellation, termination or any material change of coverage. Irsuraneo policies shall be 94 ilea to Lender at or before ciosin►g Lender shall have thee tight to hold the policies and renewals thereof 95 In the event of loss, B orower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss 916 if not made promptly by Borrower. 91 insurance proceeds shall be applied to restoration or repair of the Property awed provided saidrestoration or repair is 98 economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not 99 economically feasible or if the security of this Deed of Trust would be impaired. the insurance proceeds shall be applied to the 100 aims, secured by this Deed of Trust, with the excess, if any, paid to Borrower_ if the Property is abandoned by Borrower, or if 101 Borrower fails to respond to Lender within 30 days from. the date notice is given in accordance with § 16 (Natioe) by Lender to 102 Borrower that the insurance carrier offers to settle a claim for ' -era ce benefits, Lender is authorized to collect and apply the 103 insurance proceeds, at Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of 104 Trust, 105 Any such application of proceeds to principal shall not extend or postpone the due- date of the installments referred to in 106 §§ 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) or change the . amount of such 107 installments. Notwithstanding anything,. herein to the contrary, if under § 18 (Acceleration; Foreclosure; Other Remedies) the 1.08 Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the 109 proceeds, thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the 110 sums secured by this Deed of Trust immediately prior to such sale or acquisition. No. TD77.4-10. DEED OF TRUST (Due on Transfer — Strict) Page'2 of 7 4252562 11/10/2016 12:14 PM Page 12 of 13 1 Modification. This Deed of Trust may not be amended, modified or changed except by aninstrument in writing, signed by the party against whom enforcement of the amendment, modification or change is sought. 12. Survival of Covenants. The covenants contained in this Deed of Trust shall survive foreclosure or other termination, expiration or release of this instrument. 13. Severability. if any tern oft is Deed of Trust or the application thereof to any person or circumstances shall, to aty extent, be invalid or unenforceable, the remainder of this Deed of Trust or the application of such term to persons or circumstances. other than those as to which it is invalid or unenforceable shall not be afe te..d thereby and each term o f this Deed of Trust shall be valid and enforceable. to the fullest extent permitted by law. 14. Jar- Trial Waiver. It is mutually agreed by and between Borrower and: Lender that the respective parties waive trial by jury in any action, proceeding, or counterclaim brought by Borrower or Lender against the other party on any matter whatsoever arising out of or in any way connected with the Property, this Deed of Trust, or the Note. fend of page, signature on following p°aej 4 4252541 11/10/2016 11:39 AM Total 'ages: 2 Rec Fee: $6.00 Carly Koppes ^Clerk and Recorder, Weld County, CO UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS A. NAME • PHONE OF CONTACT AT FILER (Optional) B. E-MAIL CONTACT AT FILER (optic rial) C. SEND ACRNlOi . DGN1ENT Ta (Name and Address) Citywide Banks P4 Box 128 Aurora, CO 80040 L J THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY . DEBTORS NAME, pin de only mine Debtor name (la aril* (use exact, run name; do not unit, madly, or abbreviate any pan ci the Debt its name): hang part of the Individual Debtot s mime will not fit fn line it, leave all of item 1 blank, ahem here ano prig de. the Indivnaua.l Debtor inlorrnalion in item 10 of the Finonciny, Statement Addendum (Former LJCC1: MM). OR 1 r3, CIRCANIZATION"S NAME Colson Inc. `I b. iNDiV1DUAL'$ SURNAME FIRST PERSONAL NAME ADDITIONAL NAl'IE(S)/I ITIAL(S), SUFFIX POSTAL CODE 805164049 COUNTRY USA 1c_ MAILING ADDRESS 2057 Heritage Place C! r Y Erie STATE CO 2- DEBTOR'S NAME: Provide only one Debtor lame (2a or .2b) ,(De eekeet ftai1 name; de not omit, modify„ or abbreviate any part or Ile Debtors name); if any part of the In!dtvicival Debtor's name will not [t Iii line 2b, ledge ail of )tear 2 blank, check here III and pro%4de the Individual Debtor information in item 10 of The Financing Statement Addendum (Form JCC1Ad) OR 2a_ OFR NIZA11ON'S NAME 2b. IN WIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAME(S)IIih+IPTLAL(S) SUFFIX 2c_ MAILING ADDRESS cire STATE POSTAL CODE COUNTRY 3, SECURED PARTY'S NAME for NAME Lai' ASSIGNEE of ASSIGNOR SEC.0 O PARTY): Provide only c ?caret Party narne (la or llr) OR 3a, ORGANI Aa'IICN'S NAME Citywide Banks rNDIV-GDL)AL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAMEcsJ!INITMALcss SUFFIX Sow MAILING ADDRESS PO Box 128 CITY Aurora STATE POSTAL CODE 80040-0128 cOUNrilleff USA illONNEk _ 4. COLLATERAL: This financing statement covers the following calrateraFr All Inventory, Equipment and Fixtures; whether any of the 'foregoing is owned now or acquired later; all accessions, additions, replacements, and substitutions relating to any of the foregoing; all records of any kind relating to any of the foregoing. 5, aieckk only If applicable a:nri'neck or1v one box collateral is 66, CnEr_h. inniy it appiivaue ano rneck onay one bar P n ante Transaction Manufactured -Herne Transsdron F A 'Debtor as a 'Transmitting Utility held In a Trust (see UCC1,Md, tern it and instructions) being administered by a Decedents Personti Repr-esenlatni .fib Check Daly if applicable and theck oft one box Agricultural Lien Non-UCC Filing 7. AL TERrN-NATh/E DESIGNATION or applicable) 8. OPTIONAL FILER REFERENCE DATA: Loan it200163744 • Lessee/Lessor • Consignee/Consignor ' ': SetrerrBuyer 5a ilea/Bailor Lansee/Ucensor FLUNG OFFICE COPY — UGC FINANCING STATEMENT (April LICC1) (Rev. iJ 0/11) D4 -H 4(10 SW Sth Avenue_ Portland. Oren on 97204 4252541 11/10/2016 11:39 AM Page 2 of UCC FINANCING STATEMENT ADDENDUM FOLLOW INSTRUCTIONS 9. NAME OF FIRST DEBTOR: -Sar :o as Fine la or It on Financing S1aterneflL if brie lb was Iert blank bEcniLse- Individual Debtor carne did not Pi, check here iI . ORDANZATION'S. NAME Colson Inc. OR Gip_ INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL_ NAME(S)/INITIAL(S) SUFFIX THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY log DEBTOR'S NAME. Prowls (10a or 106) only one additional Debtor name or Debtor name that did not ft ir1 hue 10 or 2t di the 9nancing Statement (Form UCC1) (use ,pact, IUD nerne; do rral omit, muddy, or abbreviate any part or the Debtors name) and, enter the mailing adlcIreSS in lime ilk OR OR I i2ATiiON'S NAME 101". INDIVIDUAL'S -SURNAME INDIVIDUALS FIR- N PERSONAL NAME INDIVIDUALS ADDITIONAL NAPiallE(S)/INITIAL(6) SUFFIX )C MAILING ADDRESS OR tern, STATE POSTAL CODE ADDITIONAL SECURED PARrinS NAME nc I I ASSIGNOR SECURED PARTY'S NAME: Provide only Girlie name 0014 et Vit) COUNTRY 11a, ORGANIZATION'S NAME 11 b_ INDIVIDUAL'S SURNAME FIRST PERSONAL NAME ADDITIONAL NAM.E(SYINITIIAL(S) SUFFIX 11 c. MAILING ADDRESS CITY STAB POSTAL CODE COUNTRY 12_ ADDITIONAL SPAS' E FOR ITEM 4 (Collateral). 13 This FINANCING STATEMENT Is to be tiled Dior record] (or retarded) in the REAL ESTATE RECORDS (1 applicable) Is. Marne and address of a RECORD OWNER of real estate cdctcribed in kern 16 (If Debtor doe not have a reword interest): -14.. This FINANCING STATE MEN T: mowers Wilber to to GUI 16- Description al real estate: LOT 1-7, INCLUSIVE! AND QUT1_OT A AND OL1TLOT Si LONGS PEAK ESTATES P.I.D., COUNTY OF WELD, STATE OF COLORADO, covers as.extraoted collateral Q is filled as a 'fixture. ONtrig 17. MISCELLANEOUS: FILING OFFICE COPY UDC FINANCING STATEMENT ADDENDUM (Fctn1 LJCC1Ad) (Ray. 04/20fill) D+H 400 S.W. 6th Avenues Portland, Oregon 97204 Hello