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THIS :}FVEU)P~1UF J\,Pt.E"H',rr, ,1, i'ii":"\i',>,' ill hi, ::'LII"~)I\;.',: ,: (';II",\'lllit 11' /~
the CJTY OF l-IYEi\.T 1\[;;[,[, i', en',': I'"' ~ntc ti,~' 15 Jay (1' March / .5 ~ )
1927, betl'lepn PH' City of ":hea! P1(jqe, ,J '1i!ll(iD~1'1 Corl""':ti"", 'Iel'e-i:n""!pl' ~__~
refen'p'; to a, ,'ity, (1['.] Alan C. McLean -
hereinafter rl"e'Ted to 1',- n;,in'e'r
2981 973
1 OJ998~ 3 0
J667,44:1_1.4
, ,
'4,OO:il~
~!L r' U
l~' ~ ~ ~ t . j .,
\~IT'lESSETH,
1. HHEREAS, the OWlier is th(> titled il\,lr1l'l nf 3 tract of land ill the City 0'
\'iheat Ridqe. County Gf Jeffe, ',on, "uti: of Colorado, desCl'it",'rI as follrv"iS'
Tract 5; EXCEPT the west 5.0 fBet therBof,
Nicholas Gardens,
ThB plat of which is recordBd in Plat Book 2 at Page 50,
JeffBrson County, Colorado
2,
\'JHEREAS, the
Paraqraph No
and
O\'mer desh', s to jevelofl ,hat tl'act of 'alid ,1:, riesel'i:'I",] 'T'
1, and in fact, hds bel.:n is:,ued iI [)uilrjll>lj flf:'i"Jiit te, ,[r' C,( ,
3, WHERE~S, __,e:;J,Jr:Q._ Q.,.utt'?:r, ,sidBwalk J and an st reet improvements rBqui red
boardlng that tract. of land as rlesuit,,"j in Pal'arj','ar;''; ',Ii y ,ind tiie
neiqhborinq tracte, nf Tan,] dn" in,-nll'ul('t., ,1nd bel (lv! th, ,I' st,w!,,' Ie 1',
set out in the SUfll'IVlSJUiJ I~[{;IIL!\T !u:r, 'It the (i ty, dl",j
4, \~HEREAS, to he unifornl i1ild :,onsistilrrt \.:iU, the existir~cl nl'iqhbOt'inc i:i," i\
ments and completion or 'ion-corlpletiun of thOSe! imrltovel""lits as r'f"q:JlI'ei t'
SECTION FIVE' H1PR()VEME~W) ,,' 'If:' '~tm;):VI<;I()N REr;ULATlri;:" \'li11 11.1f,C nn
sionificant chilnqe 1t th(' [wc'l'nt ill tillJse strN'ts f,'OIl';"C! fhat tl',11 t :If
land as described in Pilr'l'lrap!l 'io i, 111d the rliClr:r,0,'j'ln tYor!' ()f]' :,J.
and
5. l.JHEREAS, ln order to con for!'! :0 t\IO,:,e 1"'lwit'el'lents dS set out ill the Sll[)-
DIVISIOil REGULATIuNS of thl' ritv, thi', ar (epment is ""I'i't v ietPt'I"inpd tn
be proper,
NOVI, THG\EFORE, IT IS HEREbY Ar;R[~D, THllT
A, The responsibilitY' for meetinq, conforl!lin<.1 to and pt'ovidinr; those I'equit'e-
ments as set out in the SUBDIVISrml '<[i,IIL,\T!OiIS of the "ill' is her'ohy
recognized bY' Owner
B. The Director of Publ ic ~'!orks, upon tile Jdvice and consent of the MiI'/or,
shall direct the Owner' ur his d'isi'lIls dlil! "uccessors to II'l:\'!. thO'ip t'eoult'e-
ments i1S set out in tile ~)UBrJ!VrSIm~ R[i,IIL,:"ITION': of tile Ie it;
C Upon recelpt of such noticp t.o fUI'!' 1,li '" f'Onstrllct the ;lullic il'I~"'(1vement
as required under the SUBDIV]')!Orl RliJI'lr\TIOW, of the Citv, Ol'lnel' hey'eby
a\1rees to construct dnd furni sh as IIvmer's cost. such !I:!provelllents as are
required by the SlIBDIVIS!')r; PEGULPTTIlU5 uf the City, ,lid to do so in con-
formance with ttle Jes Iljfi stindards u' tile SUBDIVISION IUl;IJLPTlONS of tile City
D, In the event an impl'OVelllE'11t 'Jistti ~t" ,,'pated hy the :ity to il1lDrOVe or
provide those requirements dS set )ut Iii the SUBDIVISln:i !<EGUL,uror,;s for
those streets or' streets fnJllt.inq thdt n'dct of land as df:'sc;t'ibed in
~aragraph No.1 above dnd till; neirj'lbor'il!i\ tl'acts of land", the O\'iner or
his assigns and successors ,l,P'"P 11,)1 tll uopose its crcalion
E, In the event an improvement district is created by trit' City to pI'ovide
the illlprrJvelllPIlt. ,1', pruvided bv ti:, :"I,I:IJIVISION R[GUL!\TrlHJS, Uw costs
accessilbTe ol'lainst the fJl'Or)(,rLv d', ,11;sCI'iberJ in 1'(II'onY',llJh No 1 shrill not
be rlisproportioniltt' vlith rnsts (ICU,s',,t,ll' to other Iw",'hv (Hid like pl'(1P"I'tll'S
ZQSl 973
I
'2QSl 914
F, Upon execution of this DEVELOPMENT 4GREEMENT by the City ~nd Owners, the
City will waive the i~nediate quarantees far public imorovements as set
out in the SUBDIVISION REGULATiDrIS of the City
G. This agreemElt is eAecuted by the Owner pursuant to the SUBDIVISION REGULA-
TIONS of the CITY OF WHE'T RIDGE.
H. The Parties hereto agree that this DEVELOPMENT AGREEMENT, by its terms,
shall be binding upon the City and the Owner, and upon the assign; and
successors thereof; and shall c:nnstit'Jtr covenants runninq with tho desr,'ibed
property
This DEVELOPMENT AGREEMENT shall be recorded with the Countv Clerk and Recorder.
IN WITNESS WHEREOF, the parties have iet thnir hands and seals or the date first
shown
RECOMMENDED BY:
( ~ f'-' /.... 0:;-' " I' -/ -;
.l.e:~,-,./~ /k-{"<:~ f
Pu!11ic Works Department
~
APPROVED AS TO FORM:
t\kk~i~- -- ....
EXECUTED BY OWNER:
fi "
L,.\ 'I ..
_ k~ [~:=L~----=-_~_
~' - / e~3/~-zh'7
-~-------r--c-'-' - -- -, - ,-, --'- -- ----- -
City Adminlstrator
EXECUTED BY CITY
______':::-~d c~~-~U=.:.J~i5h?
Mayor . '
.'
l~lT[ST[D TO BY: ) .,-
h 7 '
__~~..2_t:"-22~~_~_
City Clerk 7?
STATE OF COLORADO )
)SS
COUNTY OF JEFrERSON )
~_~~~~_~ler:t 1 ~3_;~L~~t:l11~o;, C,~:rt1c~~~~~~=-
day of
~ ' ::-O,C3h'LU;~X '
Notary Public ~
My Commission EXPires:_~__2_Qll Cf8Q__~_ ". .
2Q81 974
)1J,J03
Colorado Dpet! of rI\.u~l
THIS INDEI\TURE nnJ;: ti,;
~~th
l! 1\.' (If
fI.',\',lU
19 76 hy and
between
AI..A.'l L. rkL:,:AN
\\ L~l:.~ nLul n,'.! ;ldJr~,) L. I' ~ ~
i5]6 .ennYSOQ ~~~2~t,
~it:Y LL1d
C\1l1nty of
D2!l'/:;or,
State of Colorado, herclna[ter r'~ferred to as the Gr:t"toL .',nd tl:<: Public Trustee of thc COlinty in which thc reci
property hcreinafter described is locatcd, State of Colordd", herdnaitcr referred L) ;'5 tlle Trustee, \VlT"ES~ETH:
THAT, \VHEREAS Grantor has executed one ccn"in prorni,sory Ilute\ of C:\en date herewith, m.lde payable
to the order of COLORADO NATION.\L ,v!ORTGA(,L COMPA:--;Y, a C,,!n;id.) C,rporation, hereinafta r~-
ferred to as the Beneficiary, at its officc in Dem;:r, Ce'lu{JJo, or such other pb~_ d, th~ hllkkr thereof may desi6'11ate
in writing, for the principal sum of
--- - - - - -FIVE WfflDRED '!'!IOUs..-\.ffi A:-lD NO!lOOths- - - - - - -Dollars ($ 500 000.00 )
with interest thereon and payable as provided in s:tid note; tIle entire balance due and payable on' ~
sk February 4, 19 77
AND WHEREAS Grantor is dllsirous of nut only securing the prompt pa\ment of the aforesaid indebtedness,
but also of effectively securing the performance and obsen .lIke of the term;, cond;tio;]s, covenants and a"reements
therein and herein contained; "
NOW THEREFORE Grantor, in consideration of the premises and for Ll]e purposes aforesaid has granted,
bargained, sold and conveyed and does hereby grant, bargain, sdl and convey unto Trustee in trust forever the fol-
lowing describe? property situated in the County (If Je~ff,~r3on State of
Colorado, to wit: ,
Tract 5; EXCEPT the W~8t 5.D f~et thdreof,
NICHOLAS r~ENS,
the plat of which 13 recorded in Plat noo~ 2 at P3ge 60,
J~fferson County, CoLorado
This indenture includes all buildings, strllctures and improVements now or here:liter placed thereon and all
fi;o;turcs and equipment [lOW or here:t[ter att:tdled theT,'tll, cin,J all and slnguLcr the rji~h:s hcrcditaments and ap-
purtcn;ll1ces thereto belonging or in any way ai';Jcrtain;ug. together with :tilY and "Ill''''pertj, real or personal, which
may from time to time here;tfter be delivered or by writin:! of any kind for the pUfJ""es hcrcof be in any way sub-
jected to the lien hereof or be expressly conveyed, murtgaged, assigned, transfcrn:d, deposited audlor pledged by Ihe
Grantor to and with the Trustee, and any after acquired property interest in the above (kscribed real eslale which
Grantor may at any time hereafter have or acquire, and also all of the rents, issues, uses, profits :l.lld income of the
above described real estate and mortgaged property from HoW until the debt secured hereby is paid in full.
To have and to hold the s~e, to;!ether with all and singular the privileges and i'ppurtenanccs thercunto belong-
ing: In trust nevertheless, in case of default in the payment of the indebtcdm:ss, or any part thereof, as the same
sh:tll become due, or '" the case debult shall he made in, or in case of viobtiull or breach of ailY of tl,c tams,condi-
tions, covenants or agreements herein contained, tben upon notice and deunud in writillg filed with th~ Trusto'e
as provided by !:tw, it shall and llIay be bwful for tll.: Tnhtce !, 1 f,)rcclose tIns deed (If tJ us I, and to sell nnd dispo,.:
of the premises en masse or in scpanle parcels Cts tll.: Tilhke nuy think k'st) ;lIlJ all "f the ril',ht, tith: ami interest
of the (,rantor, th~rclO, at puhlic auctli.Hl at tIle pn:rlJlses llf .It :II1Y dOllr or cntr,lIlcl' to, or rOOCl1 \vithlll :1(1)' huild-
ing tcmplJfarily or pcrm:lllcntly used as a ('illl[\ I hlu\e ill at ,'r \"thin the hUild,ng n' which is lueateJ the office of ~he
Clcrk and RccorJer of the county whercin the premises or ,illY part thereof is J"cated, for the highest and bcst price
the s:tme will bring in cash, fnur weeks notice h:1ving becn previously pven of the time and pbee of such sale hv ad-
vertisement, weekly, in spme newsp:tper of l'l'n,'r:i1 eire'lI!.il;on. ;!neI to is,,'e,l'xl'clllt' :tlleI ddi\e'r 'I I\hke's ccrrifi(:\t~
of p\\rl'h"s~, Trustee's Ul'eJ or cerlille:llc "f rctkrnpt,oll ,ill ,IS thl'll lIl"y hI' provided hy "'w. TI,,, Trustee shall, out I)f
the procecJs or avails of such sale, after first pay;ng ;\Jld ret:tining all fees, charges, the cost of Il",king sULh sale nr~d
...
acloc:rti,ing the prcnl/"c.i and attorneys' kt'S ~,<; Ilt'r,: 11 , [''''''!tko, p:,y t<1 tile I"cndk'i,\f\ ht'fl"'l1tit'r or thc legal hold,
er of tI1'; Il1Jc:bteun,:ss tlIe :trl111"nt d s'kh 'l1dd'll'd",." :1I\d :111 llJlIflC" , , !..I'\,L'd b\ thL lkneflci:lr'. or k':al
hll!d~r of the Ind~bt\:dne~~. fur ilJ')uranc.:, r T"llh, Ll..\L) :1JlJ a';~r.:~\~11~nb, ,,-llld fur ::11) uthl~:r p'lfpU:,C ds\.:v"h"';..TC lILfr.:ii!
autllOrlled, With IIltercst tlll'renn a:Eigbteen (l~)pat'cent f'cr :'.I1nlll\1, r['\ldell\l" :iIl, o\L'qdus, If nm, Ui1to
(1i:anh)!'\ anJ/0r to ~ln\' PCf',{H\ ch~]mJf]t..:: an irrtcre:--.t in tif_ Pldll! .;;,., h' rlU(li h <Ii 1I1\\..kl the (rL~nttlr ~lhl' <.:,aL or
S;l!:.', ..tnd <,th:h lkl.:d l~r deed., so tnaJ~ ~h~dl h~~ ;J p,.'f{k'li<.t h ir hull 111 1.t\\ ,1:1.! l'ljUit\, ~",~llht lhc (~r::ilr()r and ~!l;'.'
a~lLllt11 r',-'!",n!1S cl;l.\mm' th...' pr'~'nl!":....'''I .If,,!"\.- 1 d. {If :Jil\ ;1 it I:JI~L,): ['" li\)!1i tllr,.:L'h III lil1\kr tllL (J!:!l1tt1L Thl
1:.. .cd Ii ):J~'r p( the in'k-hti...'dlh.'\" Irl~!: pu:\.h,\.... ~hl..' p:'~).p,~'rl (fI' :nJ\ {' lit t~1 .,\. I ,d~Jt \ll.,iI [~I)~ /)...: \,:J]l.:..~~ttl)ry Ui'H..lIl
th,~ I',d'''':!,l::'',l'r or purLha,,~ f~ ~1t ~in) ~t.,--!J 'd~ [II ~u t} t:h ,;I!d l rt 1,1 ( I rJr' ;I,,~ i\ \ 1 Illi1 \ If i.l n. \. :.c. d,,'.:d h rL
q'j i......:d, (i\..' (lrant(Ir h,:rl'hy af'r...,'s t,) p~l} '!\I 11'- \. \.1)' i"....' ~\ I ~'\.;
Cralltor ;:ovcrunts and a:~rt'es to ;lr~J \\dh t!\': 'ir ; ,t lI..' , thdt ::t tltC lirll\..' I. f ~L(' ,'1:..,t..,1!111" ,~I:J Jl'Ji\'(.'rv (If these
p. ,':-C!1b Cirantc.?r is wt.:ll :'!cl.:cd {If th...: prl-Jnl"~.'s iil tel ~!lllPlc ~\..!\j hilS gl)llj I,/:t, (ll!! t~u,\:r '\;.ll Lwfut" ..:utJ~ont)
td ~~r;lflt. ~~1fgalll, sell and C1li1\l'Y tht.: ~..illh> jll n}.I1I11Lf ..n...! [n[1n ~l..i.i'rc~alJ, l';.I;.'(J)- jU)I) ~lld abS0:l.t -I) \\.ll :Ilg
(lU-..! rl'lt~l~lng all nghts UlIJ ch,jms he nLl) ktvt" in Lr t(1 s,.id pn..l:ljSl'~ as :1 l~\\{ll':');;..~d C'''I.; !,~ti(ln, L.i'~('f :nh~ hy
~'Irtuc ot any art of thL" CJ.:n~:r:d ,,:,\ssl"Inl..,l: l,l [i~L 5u~, "f (\dl)r ld!l I1O\\- ('\:i,)\ill.:.' llr \\!\Ich nL~) hl'n...~lfL...'r h: p~:::'-.d
In r(.:!,llHln lhcn:to, th.lt tile S~Il11(~ ~(rc fr...:: :\I1U ck.lr t.! I!I tp,...u". ;llHJ Cll:...l!l:; 1[~: ~-l'S \\::..t:l.-\l'r, ~UIJ L)r the Ci1,1 't
~H~J p.....!Lt.'~lble pl..):-;.sC~Sil..'fl of th,; #1 (lJstl:e. ;\:';'Hll:.t ~di ;lrid e\l'r~ p...:r~\lI1 (If p;_;, iJ)~, l.!\dully (.. J.~Lnl:ng or h) Chll:1
the \', h,)le ur any part th~red, the Gr:ll1tur slull and wlll \\ "rr,tnt ;"iJ f"re\ l'[ dele ,ct.
(;rdll!or herchy flintier COVl'nants a/,u :,wees
L Tu promptly P,IY the prin.:ipal nt '''id t!l': il1kre:,t on t, c inckh~ct!Il,', c..idci\L';J I';' th~ note sc~ur~d
hereby at the tim~ ancl in t:le manner l'ro\'id~d therein,
2, TL~t together with in addition to the pdymellts ui prin~i:nl ~nd inkr~,t [n;,,'!'!<: l1nULf tl,e t<:rms of the
nn(,: 5':eured hereby, at Bcneficiary's optlun Grantor \'.,iI p,'y to the lkndiu "''', lIIltil s:liu no>to' l' hlly raid, a
sum cqU:l! to the ground rent; next due, plus pr<:millms lh.,l \':lil next b~C"1I1c du~ aId p:,)'.lbk en policie:, nf fire
and nUKr hazard iILurance, plus the t:ucs and special asscss1l1<:nts neKt dl!C Oil the 1'1,'llIISes clJ\'cre<! by this [ked
o( trust (~U as estimated by Beneficiary) less all SllIllS :\l,.,,,dy p:lid U,erdur c1i"ldd b;, the nLJI/bcr of months to
clapoc before one month prior to the date \\hen such !;rtJund rcnts, insurance premiums, tlEtS and assessments
will become due, said sums to be held by the Ii neli,'illry in trust to pay Silid grollnd rents, il1sur:mcc prenlJUCl1S,
t;ues l1ud :lssessments, when thc :,ame become due and pa):1111:. 11 tLc [1wntl1lv 1',1)' ments Ii', tic- tn the [knell.:i"rv
for ground rents, insurance premiums, taxes :llld a"c"ments unuer this p:"a'I,'pl1 shall Ill)! be sufficient to P,lY
same \\h~n due l1lid payable, the Grantor Shllli, aftcr \\Tlfkn notice thcreof, ['1,'11 I'tl, 1',1" tel the Ilcl'diciDry any
af1\",unt necessary to m~lkc up the ucficlency bdore the ,bte when s'lid grut nd II nts i:bU':UtLC prel1\1ull\S, tl1'\cs an,!
assessments become delinquent, The a~grc~atc of tl~e sums p~),:ble Llf pOJ:',J 1l'l1h, it ,U/.t"cC prcmlunh taxcs
and Ds:,essments in addition to those pay"iJlc tn principal ~u,d interest uf\lkr the L r!l1s uf tJ1C f',',e se':\lr'~d here-
by shall be "aid in a single lnymen\ each n1'.)nt:1, s:'l(f p.'ym.nh hl h~ :1[ /'L'd ", tl c foUo'.\ir,g /tl'lll' in the order
stateu, (1) to ground rcnts, insurance pn'm'ums, t:I,~S and ~"Sl'ssn,ent" (:') tn il tere':,t nn thc indeh~cdnc'ss secured
her<:by (3) to p:Jyments on the prin.:ipal l'f said \I"kbkdncss. l\lIY dl'ficicIC') '" t!,c' :lllll'unt of :Ul)' stlL'h ng::reg-
ate monthly payment slnli, ullles.; nlJoc g""cl by th~ C;rantl'r pnl 'f t(1 the due d,ltc uf the next s\!ch p't):J\ent, con-
stiuJtc an event of dcfault under this deed of tn:,!' '1'; t: (n \11t", :l~.re:,) to 1':tY:' 1.!e ch""l' I\lt tu cxcc~d - -
3, That Grantor will continuously m:ut1t:\in fifl~ m d o!l:er h:J7~rd insll"'I', c, ()f su,1I ty;'" I l' ty,,~s nnd
amn\lnts as arc satisfactory to Beneficiary, on II:~ il'I,I,II\C:Ulc'IlIS lJr\\ Of hcrlelfln IIn s',id prl'l,l1ses, nlld exc"I't \\hen
pavrr.ent for all such premiums h;!s theretoflJr: h;c'n nlelde un,kr I':lrac'rl'ph ~ Ill'! :uf, he ,I ill p,')' l'wlnptly when
due any premiums therefor, All insllfance :,hall be cJrrinlln comr,ni':s ap;>wh'o by the Ikndiciary and the !,ol-
ic:es sh~1I be held by the Beneficiary and h:\\'C attached thereto loss p'l;,able cbu'cs in f:I'.or o( am! in f')[In aecept-
ahle to the Beneficiary, Th"l al least fiftcen d,lYs bc-f,'re exp;r:nion ot c:lch SUdl 1',,1,:)', a Il'ne\",1 there'd or new
~,nd sufficient polie;, to trike t!.c p!:Il'C of the aile 'u o,['irinc sh,lll be ddi\erl'J t" th: Ikl:di,":lry In ['n'ot of Inso
Grcntor will give immediate notice by mail to the Ilcllcfil'i"ry, who may makc pr'H)f "f In,s if n\)t l1l:ld: promptly
by the' Grantnr Each in'llrancc cI1Jn[Jany ,'HlLc'rned is h.~,dl\ :lutlh'ri{~d anc! ,11rect','d tt' m:,ke r:tym,nt (or sl,ch
loss directly to the Beneficiary instead of to the Gnntt'r and the lkndiciary j"intl, The' In''iranc.: proceeds, or nny
part ther :0(, muy bc applied by the Ber.dici:lr\' at its ['ptl' ," to the n:Juction [,1 ti,e iI\(Ll,t,:df1','sS hereby secured,
or to the restoration or repair of the propaty d,lma~:ed, or rcle'lsed to Grantor to m"ke tl1c n'CL'CSS:Jry rc;;:\irs or rc-
storation, In cl'ent o( forCc!o';ufe o( tIlIS deed \If tru,!, or "tillT tnnskr of titk t,) t!ie S,liJ premisl's in c:\tm:'"is:l-
f!1\?nt ()f thL inJcbkc1nc\.'; s'..:..:ur~d !1fTl'l1',. :111 rJ 'hL tILk:. a \-.1 li1L' :,,! (1f th: (tr;,.Ul~tl[ ~n '~ild id ~!11~ i!l",~ILlll.....; pol[(l'~
then in (orce shall pilSS to tile p:!f,:hJ\ser or Cir,lrItce
4, That Grantor sIn!! not commit pr permit \' :Jsk \In ,.1',(] prc'i'CTt\', or reITI" : "I' d,'stro\ .\1':" p"r!;un t!lcreor
and sh.,ll IllJintain the pruperty H1 gO'.)d rcr:lir und (,.i.'lld.ti,.!;: On ;',l~) Llilurc ~\l it, IllllnU.in. I;':\ll.!\i.~l;\l.... at its (1i1~
tion, rn:1Y d~dare the inlkhtedncss in d~[autt or n:...ty cau~,-" rL'ds\lfj_ihk !;l;t~nt'.~n~l11Ct; ,uvJ rc~yur \\/lrk to h; t)'-:rforI:lcJ.
5 Th;lt all judgm~nts, dccrc':s and 1"nITants for injury or di\1n"~'c tt) th~ 11'''C', ',I~'~d : 'I< i":rt: nill! ;'.1\ .\\\'"ros
pursu~lI1t to proceedings hlr cOJ!denln;~tllln (lr unckr Ih)\\cr of llIll1lL;1l Ji.lrlLlin ,:~,-' IltTC'h;' ;l~:-..i:~ll;..d h~ (Jr:l,ntur in
their entirety and sh<lll be paid to the Benefic'!:lr:, Wild, at lh "j,\i"I', I!Ll;, "['ply tile ",(\1': t" tl", reduction of tlle inc
d.~htedncs:, seeured hereby, or to the restur:,tioll or 1"1' ,ir "f !!'l' property u"m !,'~d, nr relc ,l\e ~ lilt payme!'t to the
Gr~lntor tu I.ll~\ke the neCl'~S~lrv r('stl)r;tt~nn or n.'p:..irs. B:.'p, :id<~n l~ hCT\:hy C{i1;-h,.\'t:f:,:d. HI t!:l' Il.!fI1c' of the (jr:1f"~0r,
to rCl'ie':e and gi\'c aeq~,ittance [Of :u'u to :'Plw;cl [rum :\1\)' ,u,h :t\";1rU, jlld~l11c'iit ,.r d':~rc~ \\k,tlier it h~ jeHllt or
SC\'CEll. It is lIgreed th<lt wh:n an or any p:rrt of th,: ah','\l' d..; 'rikd property is cdnc,L-rnncd or ttlken und.:r power
of emlncnt domain Iknefici:lry may cdicct from Cirafitor :1 rc;:""nhlc replace1l1c'n: \"q or prep,''.lllcnt fee on <Ill
condemnation payments 111' awnrds appl,ed h' rc'duee Of 1':1)' in !l;J! the prin.;!pal a,m""nt rcmail,/ing ,dlle on the ~boYe-
described Notc (in exce,s of ~mo"nts due and paY'lb1e ['I' l)f prqnyments pc'rnl11t~d t" l'(' paid \\lthout prenllum or
pen;llty undcr the terms and conditiul's of snid l\Ok) alid ,uay ll1.,,) cpIl, 't from thc Grantor nll cost and expenses
incurred by the Beneficiary in connection with such cond:l1l1u:i'ln,
6, TInt Grantor will p~y when due all taxes, assessments or any otlwT i!'del'tcdncs<; which may be s~cure'J by
lien or chargc on the premises superi"r tn the lien herenf, :!nd upon request exhihit slllisf"Llory e\,ldenee of the dIS-
chilrge of ilny ,ueh prior lien to thc fknefici:!ry,
7 That the Bellefic:iary is herehy given tlle light o( en~ry nn s,lid mortgaged pr"i,crty nt any reltsnn:,bl~ time for
thc purpa:,e of inspecting s:\id property
S That the Grantor will e,'mpll' with :;\1 the hws, ;let:;, (uks, r":'1IIl1tions and <<rclers of any f,,!eral, st.1te, n1U-
oicip:\l. k\'islative, [JtlmioJ.:lti:lti.. ~ Uf judidal bou;:, conlIn: :;'~Jlln (lr (,ffil..'CT cXl.:rcjsH1~! ~in) po"vl'r of fL'gul:lttnn or super-
\is:on [l\'e'r the Cimntor or th~ l\llHt~:a,-:t'd pmperty for the Cl>lt',trllction, w,: or uf'cr:lti','n tl:ereof, prOVIded, hp:\'C\'er,
th~t the Grantor may contest an' such law, net, ruk, Ic:,-'\I"lt,,,n \lr order III any rc,!Spnall:c m:mner wh,~h w111 not
...ffen the int,:resl of the Bcndie"lry to any p,lrt \If the /II' l' ,l:'~d I '''p,'rty
, 9. Tbt GLI~lt()r ;lgrec" to and will promptly pay all cost, cllilr~;es ap.d expCllSCS incurrcd by the Beneficiary,
:r1;;]uJ:n:; attorne~ s fees, i\[ls:ng out of or in Cl.\Ilnection witil any ,'l't!l1l1, pwcCCdl".g or h2arJng, ki:,al or otherwise,
in any way afteetwg or rehltmg to the sccured property, this (.ked or tnist, ur t;it: af(lres:,id nute secured hcreby, and
agrees to) huld Benc(jciary harmlt:" with regilrJ to any such actil,n, P[\ ,ceed:ng or hearmg,
10 Thl,t in the event the Bcndici:lry incurs any expense for the p2t'formance of ;my defaulted covenant, agree-
ment or act of the Grantor as pwvideJ herein, then any m()n~ys advanced by the Beneficiary fur such purpo:;e sbll
h:ar 1l1krc\t ;It the rale 0[ 13'%. per afUllI!1l ;fno! shall bcc(lllle ;1 JUrl (If t!le illdd,!t'd:le" "'ellred bJ th" in'tfllfficlll
ratably ;111<.1 on a parity VIllh illl other ind'.:hlcd,lCSS seculcd ""re:,I" aud sh:>.\l be \l\lllWdl"tcly dlle 2ml p;ly"b\c with-
out noticee, Inaction b} the Iknctiuarv sh:1:t never be conSidered 'IS a \\'~:\'er of ;lny n::ht accruing to sait! l3enefici-
ary Oil ,":count of any def,illlt hereu"der Oil tbe pl1rt pf Iht: CrLnlnr Failure (,f tIle Bln~rieiary to exercise eny option
granteJ h,,~rcin s!laII not b~ lL_~nled D \'y..l.ivcr of lll~ rig11t to l'.\l~rcisc su-:h optiun in the event of any subsL'qu~llt de-
L.lutt.
II Ia (h~ event of ,lcf;\ult in the p:1:'ment of tJl,' in,khtedll2ss or eny p:trt tli:reof. or 0f a brc,lch C" vi"la-
tion of any o( the covenants or agreements h-:rcin, tlI'..-n~ (}nu in tlJ~ll event, th~ r;h)k l,f the inc..khkdncss anJ the in..
tere:.( thereon to th~ tin!c of s~le, mill' at Ollce, at tb,? option d tlte Hencfi:i;!ry PI' tI", teg I holcer of th~ i11l1cbted-
ne:.s k dccbred due end p:lvable, :llld the prcmises be suld in the manner ~'.lId with the Salllc dkct as if th.: iIl-
dchtcdness h;ld 1lJJtured, If forectosur~ is milde by the Trustee, such r,'llsonab1c atturney's fee as the Deueficillry Illl1Y
agrc!..~ to p:ty, or be rcqllir~J to pay, with ..l lnl!ll~n'un:l in aL.\.orJ~H1....e Y..lt:1 the ITUilII;Itl!l1 fee s~h('dt1k c: lll~ Color;~do
H:lf ^sso~iati()n, fer servlC~s in the supervi3i\1n nf such foreclosure pwcccdino;s ,I :111 b0 allow~d and ad(kd by thc
Pubhc Tr'Jstee as a part of the cost of fureclo,ure. If inrccl,'sllre be by ;~etion in CUllrt, a reasonable Qttorney's fce
sh::.1l be taxed by the Court as a p:lrt of the cost of such fored(:surc fin 'eeecl:ngs,
12, The lien of this instn'rnent shaH lel:1~,in i:1 full force and effect during any postponcment or extension
of the time of payment of the illdebtedness or any part thereof :.eeurcd hcreby,
13 In the event of default hereunder, t1h: Bcnefici:lry, or the holder of the indebtedness or certificate of sale,
shall ;It once become entitled to the possession, use, amI enjoyment Qf the property i\foresaid, and in such event the
Grantor hereby assigns to the Bendiciary or holder of the indebtedness all the rents, issues and profits of said
property, from the accruir,:; of such right and during the period of the d,~fault, pcnd~ncy of foreclosure proceed-
ings and the period of redemption, if any there he, The delivery of such possession nny be enforced by the party
entitled thereto by any appropriate civil suit or proceedings, nnd such party shall be entitled to a receiver for such
property, and of the rents, issues and profits thereof, after any such default, including the time covered by fore-
closure proceedings and the period of redemption, if any there be, Such entitlement shall exist as a matter of right
without regard to the solvency or insolvency of the Grantor or of the then owner of sl1id property and without re-
gard to the value of the property, Such receiver may be appointed by any court of competent jurisdiction upon
ex parte application, notice thereof being hereby expressly wai led, and the appointment of any such receiver, on
any such applicatiou with or without notice, is hereby c()[]sented to. All rents, issues and profits, income and re-
"enue of said property shall be applid by such receiver ae'~nrding to law and the orders and directions of the
court.
14. The covenants herein contained shall bind, and the benefits and adv"ntages shall inure to, the respec-
tive heirs, executors, administrators, successors and assigns of the parties hereto Whenever used, the singular
number shall include the plural, the plural the singular, and the IIse of any gender sJ:aH be applicable to all g:::nd-
ers, and the term "Beneficiary" shall include any payc'e of the indebtedness hereby seCllred or any transkree
thereof whether by oper:ltion of law or otherwise
IN WITl'.'ESS WHE ',EOF, the Grantor has execut~d this instrument on the day and year first hereinbefore
written,
AIan C. l!cLean
State of Colorado )
CitY' .'lM ) ss
County of Dcnv'il~
The foregoing instrument was acknowledged before me this
4th
day of
AU3U!lt
19 76 ,by
Alan t.. ~'I'-JL.n;,'l
Witness my hand and official seal.
My Commission Expires: Feb. 19. 1.,30
Notary Public