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Home My WebLink AboutKH Webb_capstone.pdf Eagle County,CO 201512097 Teak J Simonton 07/01/2015 Pgs: 1 10:59:16 AM REC: $11.00 DOC:$76.50 III IUll111ii1111i1i 11ii1i1Etil State Documentary Fee WarrantyDeed Date:June 29,2015 $76.50 (Pursuant to 38-30-113 C.R.S.) THIS DEED,made on June 29,2015 by PHYLLIS DICKSON Grantor(s),of the County of and State of MASSACHUSETTS for the consideration of($765,000.00)"4'Seven Hundred Sixty Five Thousand and 00400 41"dollars in hand Pad,hereby sells and conveys to MICHAEL YACCINO AND IRENE YACCINO Grantee(s),as Joint Tenants,whose street address is'14114e WATUV;%9'1 2,County of EAGLE,and State of COLORADO,the following real property in the County of Eagle,and State of Colorado,to wit: *1Bl V Ari 01N RID68 R0tcD I, VAIL t CO $lti, UNIT 1,CAPSTONE TOWNHOUSES,ACCORDING TO TAF PLAT RECORDED NOVEMBER 28,1978 IN BOOK 278 AT PAGE 970, COUNTY OF EAGLE,STATE OP COLORADO. also known by street and number as:1817 MEADOW RIDGE ROAD AKA UNIT 1 CAPSTONE TOWNHOUSES VAIL CO 81657 with all its appurtenances and warrants the title to the same,subject to general taxes for the year 2015 and those specific Exceptions described by reference to recorded documents as reflected in the Tide Documents accepted by Grantee(s)in accordance with Record Title Matters(Section 82)of the Contract to Buy and Sell Real Estate relating to the above described real property;distribution utility easements,(including cable TV);those specifically described rights of third parties not shown by the public records of which Grantee(s) has actual knowledge and which were accepted by Grantee(s)in accordance with Off-Record Title Matters(Section 83)and Current Survey Review(Section 9)of the Contract to Buy and Sell Real Estate relating to the above described real property;inclusions of the Property within any special tax district;and other NONE PHYLLIS D N State of COLORADO ) )ss. County of EAGLE ) The foregoing instrument was acknowledged before me on this day of June 29,2015 by PHYLLIS DICKSON nEvOR THEELKE NOTARY PUBS N.r PublicSTATE OF COLORADO lVfy tor'miedon expires ,9 / 74N rang I0 20044010471 My Commission area AprE 17,2016 When Recorded Return to: MICHAEL YACCINO AND IRENE YACCINO 10158:57e280(ElfrikARtitr48081882 1917 McAhaVVWhatRZ *1 VAMV, CO 8 I s S • Land "."- Form 13084 01/2011 wd.odt Warranty Deed(Joint Tenant) V50040985 {22201680) 111111111 II I IUIII VIII SII II 35iz5001 ea:27P— Sara Fisher Eagle Cty, CO 432 R 10.00 0 36.50 WARRANTY DEED THIS DEED,Made this 5th day of March , 2001 ,between O(//� O JERRY B. VANNATTA AND MARIANNE VANNATTA *02. of the said County of and State of OKLAHOMA ,grantor,and �` DIANE M. PRAGER AND NELSON A. PRAGER, AS JOINT TENANTS �U(_/ whose legal address is 2200 EAST GRAND AVENUE . ENGLEWOOD, CO 80110 of the said County of and State of COLORADO ,grantee: WITNESSETH,That the grantor for and in consideration of the sum of THREE HUNDRED SIXTY-FIVE THOUSAND & 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 heirs and assigns forever, all the real property together with improvements, if any, situate, tying and being in the said County of EAGLE and State of Colorado described as follows: UNIT 2 CAPSTONE TOWNHOUSES ! According to the Plat recorded November 28, 1978 in Book 272 at Page 970 as Reception No. 175380. COUNTY OF EAGLE STATE OF COLORADO � 1 i1) I also known by street and number as:1817 MEADOW RIDGE ROAD 2, VAIL, CO 81657 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 and profits thereof, and all the estate,right,title,interest,claim and demand what- I: soever of the grantor,either in law or equity,of,in and to the above bargained premises,with the hereditaments and appurtenances. TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances,unto the grantee,his heirs and assigns forever. And the grantor,for himself,his heirs,and personal representatives, does covenant,grant,bargain,and agree to and with the grantee, his heirs and assigns, that at the time of the ensealing and delivery of these presents, he is well seized of the premises above Iconveyed,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 form 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 soccer,except Those matters set forth in Exhibit A attached hereto and made a part hereof. The grantor shall and will WARRANTY AND FOREVER DEFEND the above-bargained premises in the quiet and peaceable possession of the grantee,his heirs and assigns,against 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 use of any gender shall be applicable to all genders. IN WITNESS WHEREOF,the grantor has executed this deed on the date set forth above. MARIANNE VANNATTA INDIVIDUALLY & AS ATTORNEY IN FACT FOR JERRY B. VANNATTA State of COLORADO )ss. County of EAGLE ) The foregoing instrument was acknowledged before me this 5th day of March , 2001 , by MARIANNE VANNATTA INDIVIDUALLY & AS ATTORNEY IN FACT FOR JERRY B. VANNATTA My commission expires December 08, 2003 land a d official seal. Notary,Put'c File No.91028615-03 Stewart Title No.932A WARRANTY DEED(For Photographic Record)(Y932AEXTNEW) Rev.7199 - 1 4 EXI- IBIT A Attached to and made a part of Warranty Deed from MARIANNE VANNATTA JERRY B. VANNATTA , Grantor(s) , to DIANE M. PRAGER NELSON A. PRAGER , Grantee(s) . All taxes for year 2001, which are a lien not yet payable. The effect of inclusions in any general or specific water conservancy, fire protection, soil conservation or other district or inclusion in any water service or street improvement area. Easements over the Northeasterly 5 feet and the Southeasterly 5 feet of subject property, as shown on the recorded plat of said Subdivision. Reservations or exceptions contained in U.S. Patents, or in Acts authorizing the issuance thereof, of record reserving 1) Rights of the proprietor of a vein or lode to extract and remove his ore therefrom and 2) rights of way for ditches and canals constructed under the authority of the United States. Ten percent royalty in the proceeds derived from the sale of any minerals produced and mined from said premises, as reserved by instrument recorded in Book 166 at Page 407. Restrictions, which do not contain a forfeiture or reverter clause, as contained in the instrument recorded October 8, 1963 in Book 178 at Page 75. Easements and rights of way as shown on the Plat for Capstone Townhouses, recorded November 28, 1978 in Book 278 at Page 970 as Reception No. 175380. Terms, conditions, reservations, restrictions and obligations as contained in Party Wall Agreement recorded November 28, 1978 in Book 278 at Page 969 as Reception No. 175379. Mill 0111 111101111111 I 35 2/ 04:27P Sara Fisher Eagle Cty, CO 432 R 10.00 0 36.50 Eagle County,CO 201512098 Teak J Simonton 07/01/2015 Pgs: 14 10:59:16 AM REC: $76.00 DOC:$0.00 When recorded,return to: Alpine Bank Attn:Final Document Department 400 7th Street South Rifle,CO 81650 877-880.3171 Tule Order No.: 50040985-2 LOAN 0;1857506437 [apace Above Tire Line For Recording Meg DEED OF TRUST I him 10025911.0100006575-9 MERS PHONE#:1.88&679.6377 DEFINITIONS Words used In multiple sections of this document are defined below and other words are defined in Sections 3,11,13, 18,20 end 21.Certain rules regarding the usage of words used In this document are also provided in Section 16. (A)"Security lnstrumenr means this document,which is dated June 29,2015, together with all Riders to this document. (B) "Borrower"is MICHAEL YACCINO AND IRENE YACCINO. Borrower is the trustor under this Secaity instrument. (C)"Lender"is Alpine Bank. !ender is a Colorado Corporation, organized end existing under the laws of Colorado. Lender's address is 400 7th Street South,Rifle, CO 81650. (0)"Trustee"is the Public Trustee of Eagle County,Colorado. (E)"MERS"is Mortgage Electronic Registration Systems,Inc.MERS is a separate corporation that Is acting solely as a nominee for Lender and Lender's successors and assigns.MERS H the beneficiary under this Security Instrument. MERS is organized and existing under the laws of Delaware,and has an address and telephone number of P.O.Box 2028,Flint,MI 48501-2026.tel.(888)679-MERS. (F) "Note"means the promissory note signed by Borrower and dated June 20,2015. The Note states that Borrower owes Lender FOUR HUNDRED THOUSAND AND NO/100* Dollars(U.S. $400,000.00 plus interest.Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt In Ml not later than July 1,2045. (0)"Property"means the property that is described below under the heading"Transfer of Rights in the Property." (H)'Lown"means the debt evidenced by the Note,plus interest,any prepayment charges and late charges due under the Note,and all sums due under this Security Instrument,plus Interest. (4) "Riders"means al Riders to this Security Instrument that are executed by Borrower.The following Riders are to be executed by Borrower[check box as p8cable]: ©A44ustable Rate Rider ❑Condominium Rider 0 Second Home Rider ❑Balloon Rider i]Planned Unit Development Rider 0 Other(s)(specify] ❑ 1-4 Family Rider O Biweekly Payment Rider ❑V.A.Rider (J) "Applicable Law"means all controlling applicable federal,state end local statutes,regulations.ordinances and administrative rules and orders(that have the effect of law)as well as all applceble final, non-appealable judicial opinions. COLORADO-SingleF5n*y-R r.Mac UNWONtaslSTRUMernForm 30531101 Initials: Elle Mae.Inc. Page 1 of 9 Coe 0306 MODEM Oe/2 07110 AM PST LOAN 9:1857506437 (K)"CommunityAssociation Dues,Fees,and Assessments"means all dues,fees,assessments and otherdmargesthat are imposed on Borrower or the Property by a condominiu n association,homeowners association or similar organization. (L) "Electronic Funds Transfer"means any transfer of binds,other than a transaction originated by check,draft,or similar paper instrument,which is Initiated through an electronic terminal,telephonic instrument,computer,or magnetic tape so as to order,instruct,or authorize a dnanclal Institution to debit or credit an account.Such term includes,but Is not limited to,point-of-sale transfers,automated teller machine transactions,transfers initiated by telephone,wire transfers,and automated clearinghouse transfers. (M)"Escrow Items"means those items that are described in Section 3. (N) "Miscellaneous Proceeds"means any compensation,settlement,award of damages,or proceeds paid by any third party(other than Insurance proceeds paid under the coverages described in Section 5)for.(i)damage to,or destruction of,the Property;(ii)condemnation or other taking dal or any part of the Property;(iii)conveyance in lieu of condemnation;or(iv)misrepresentations of,or omissions as to.the value and/or condition of the Property. (0)"Mortgage insurance"means insurance protecting Lender against the nonpayment of,or default on,the Loan. (P) "Periodic Payment"means the regularly scheduled amount due for(I)principal and Interest under the Note,plus (Ii)any amounts under Section 3 of this Security instrument (0)"RESPA"means the Real Estate Settlement Procedures Act(12 U.S.C.§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 instrument,'RESPA' refers to al requirements 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 ban"under RESPA. (R) "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 THE PROPERTY The beneficiary of this Security Instnrnent Is MERS(solely as nominee for Lender and Lender's successors and assigns) and the successors and assigns of MERS.This Security Instrument secures to Lender(I)the repayment of the Loan, and all renewals,extensions and modifications of the Note;and(if)the performance of Borrower's covenants and agreements under this Security instrument and the Note.For this purpose,Borrower,in consideration of the debt and the trust herein created,irrevocably grants and conveys to Trustee,in trust,with power of sale,the following described property located in the County [Type of Recording rurtsaaron#of Eagle time of Recording Jurisdiction]: UNIT 1,CAPSTONE TOWNHOUSES,ACCORDING TOT HE PLAT RECORDED NOVEMBER 28,1978 IN BOOK 278 AT PAGE 970, COUNTY OF EAGLE, STATE OF COLORADO. APN# 210312304001 which currently has the address of 1817 Meadow Ridge Rd,unlit Vali, [Stmt](Girl Colorado 81657 (Property Address, Me code] TOGETHER WITH all the improvements now Of hereafter erected on the property,and all easements,appurtenances, and fixtures now or hereafter a part of the property.Al 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 MERS holds only legal title to the interests granted by Borrower In this Security Instrument,but,If necessary to comply with law or custom,MFRS(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,but not limbed to,releasing and canceling this Security instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered,except for encumbrances of record.Borrower warrants and wit defend generally the title to the Property against all claims and demands,subject to any encumbrances of record and lens for taxes for the current year not yet due and payable. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniorm covenants with limited variations by jurisdiction to constitute a uniform security Instrument covering real property. UNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: 1. Payment of Principal,Interest,Escrow items,Prepayment Charges,and Late Charges.Borrower shall pay when due the principal of,and interest on,the debt evidenced by the Note and arty prepayment charges and late charges due under the Note.Borrower shat also pay funds for Escrow items pursuant to Section 3. Payments due under the COLORADO-814s Family-Fannie MeelFreddre Line UNIFORM RsSTRUraNT Forms 30061101 1Mdtials: Ella Mae.Mac Page 2 of 9 COE 0315 1: ril6 COEDEED 070 AM PST 201512098 LOAN*:1857506437 Note and this Security instrument shall be made in U.S.currency.However,if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,Lender may require that any or ail subsequent payments due under the Note and this Security Instrument be made In one or mom of the foitowing forms,as selected by Lender.(a)cash;(b)money order,(a)certified check,bank check,treasurer's check or cashier's check, provided any such check is drawn upon an Institution whose deposits are Insured by a federal agency, instrumentality,or entity;or(d)Electronic Funds Transfer: Payments are deemed received by Lender when received at the location designated In the Note or at such other location as may be destmated by Lender In accordance with the notice provisions in Section 15.Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current.Lender may accept any payment or partial payment insufficient to bring the Loan current,without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments In the future,but Lender Is not obligated to apply such payments at the lime such payments are accepted.If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest an unapplied funds.Lender may hold such unapplied hinds until Borrower makes payment to bring the Loan current if Borrower does riot do so within a reasonable period of time,Lender shall either apply such funds or return them to Borrower.if not applied earlier,such funds will be applied to the outstanding principal balance under the Note Immediately prior to foreclosure.No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds.Except as otherwise described in this Section Z all payments accepted and applied by Lender shall be smiled In the following order of priority:(a)Interest due under the Note;(b)principal due under the Note;(c)amounts due under Section 3.Such payments shall be applied to each Periodic Payment in the order in which it became due.My remaining amounts shall be applied first to late charges,second to any other amounts due under thls Security Instrument,and then to reduce the prindpal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amcuit to pay any late charge due,the payment may be applied to the delinquent payment and the late charge.If more than one Periodic Payment is outstanding,Lender may apply any payment received from Borrower to the repayment of the Periodic Payments If,and to the extent that,each payment can be paid in fent.To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments,such excess may be applied to any late charges due.Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments,insurance proceeds,or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments. 3. Funds for Escrow items.Borrower shall pay to Lander on the day Periodic Payments are due under the Note, until the Note is paid in full,a sum(the"Funds")to provide for payment of amounts due fon(a)taxes and assessments and other items which can attain priority over this Security instrument as a lien or encumbrance on the Property;(b) leasehold payments or ground rents on the Property,if any;(a)premiums for any and all Insurance required by Lender under Section 5;and(d)Mortgage Insurance premiums,if any,or any sums payable by Borrower to Lender It lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10.These items are cathed "Escrow items."At origination or at any time during the tamp of the Loan,Lender may require that Community Association Dues,Fees,end Assessments,if any,be escrowed by Borrower,and such dues,fees and assessments shall be an Escrow item.Borrower shall promptly furnish to Lender al notices of amounts to be paid under this Section.Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items.Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing.In the event of such waiver,Borrower shall pay directly,when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument,as the phrase"covenant and agreement'is used In Section 9.If Borrower is obligated to pay Escrow items directly,pursuant to a waiver,and Borrower falls to pay the amount due for an Escrow item,Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount Lender may revoke the waiver as to any or ail Escrow items at any time by a notice given in accordance with Section 15 and,upon such revocation,Borrower shall pay to Lender all Funds,and in such amounts,that are then required under this Section 3. Lender may,at any time,collect and hold Funds In an amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA,and(b)not to exceed the maximum amount a lender can require under REI.Lander shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise In accordance with Applicable able Law The Funds shall ba held In an institution whose deposits are insured by a federal agency,instrumentality,or entity (including Lender,If Lender is an Institution whose deposits are so Insured)or in any Federal Home Loan Bank.Lender shad apply the Funds to pay the Escrow Items no later than the lime specified under RESPA.Lender shall not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying the Escrow Items,unless Lender pays Burrower interest on the Funds and Applicable Law permits Lender to make such a charge.Unless an agreement is made in writing or Applicable Law requires Interest to be paid on the Funds,Lender shall not be required to pay Bornovrer airy interest or earnings on the Funds.Borrower and Lender can agree in whiting,however,that interest she/be paid on tie Funds.Lender shall give to Borrower,without charge,an annual accounting of the Funds as required by RESPA. if there Ise surplus of Funds held In escrow,as defined under RESPA,Lender shall account to Borrower for the excess funds in accordance with RESPA.If there Is a shortage of Funds held in escrow,as defined under RESPA,Lender shall notify Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to matte up the shortage in accordance with RESPA,but In no more than 12 monthly payments.If there is a deficiency of Funds held in escrow,as defined.(��''�`�J�� COLORADO-Single Fart y-Fannie M roddte Moo UNIFORM!INSTR1MJ T Form 3005 1#01 Itddals: GJ Ewe Mae.r,c. Page 3 oil ost6 comma 5 0750 AM PST 201512098 LOAN; 1857506437 under RESPA,Lender shall notify Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,but In no more than 12 monthly payments. Upon payment In full of all sums secured by this Security instrument,Lender shall promptly refund to Borrower any Funds held by Lender. 4. Chanes;Liens.Borrower shall pay all taxes,assessments,charges,fines,and impositions attributable to the Property which can attain priority over this Security instrument,leasehold payments or ground rents on the Property, if any,and CommunityAssvdation Dues,Fees,and Assessments,ifany.To the extent that these items are Escrow items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower.(a) agrees In writing to the payment of the obligation secured by the len in a manner acceptable to Lender,but only so long as Borrower Is performing such agreement;(b)contests the lien in good faith by,or defends against enforcement of the lien in,legal proceedings which In Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending,but only until such proceedings are concluded;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument.if Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument,Lender may give Borrower a notice identifying the Ben.Within 10 days of the date on which that notice is given,Borrower shall satisfy the lien or take one or more of the actions set forth above In this Section 4. Lender may require Borrower to pay a one-time charge fora real estate tax verification and/or reporting service used by Lander in connection with this Loan. 5. Property Insurance.Borrower shall keep the improvements now sedating or hereafter erected on the Property Insured against loss by tire,hazards Included within the term'extended coverage,and any other hazards including.but not limited to,earthquakes and floods,for which Lender requires insurance.This Insurance shall be maintained in the amounts(Including deductible levels)and for the periods that Lender requires.What Lender requires pursuant to the preceding sentences can change during the term of the Loan.The isurancecarrierprovidingtheInsuranceshalbechosen by Borrower subject to Lender's right to disapprove Borrower's choice,which right shall not be exercised unreasonably. Lender may require Borowerto pay,In connection with this Loan,either:(a)a one-time charge for flood zone detemenatlon, certification and tracking services;or(b)a one-time charge for flood zone deternlrhation and cerlmcstion services and subsequent charges each time mappings or similar di rages occur which reasonably might affect such determination or certification.Borrower shall also be responsible for the payment of any tees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above,Lender may obtain Insurance coverage,at Lender's option and Borrower's expense.Lender is under no obligation to purchase any particular type or amount of coverage.Therefore,such coverage shall cover Lender,but might or might not protect Borrower,Borrower's equity In the Property,or the contents of the Property,against any risk,hazard or liability and might provide greater or lesser coverage than was previously in effect.Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained.Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument.These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies,shall include a standard mortgage clause,and shall name Lender as mortgagee and/or as an additional loss payee.Lender shall have the right to hold the policies and renewal certificates.If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.If Borrower obtains any form of insurance coverage,not otherwise required by Lender,for damage to,or destruction of,the Property,such poky steal include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. in the event of loss,Burrower shall give prompt notice to the insurance carrier and Lender.Lender may make proof of loss if not made promptly by Borrower.Unless Lender and Borrower otherwise agree in writing,any insurance proceeds,whether or not the underlying Insurance was required by Lender,shall be applied to restoration or repair of the Property,lithe restoration or repair is economicaly feasble and Lender's security is not lessened.During such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly.Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed.Unless an agreement is made in writing or Applicable Law requires Interest to be paid on such insurance proceeds,Lender shall not be required to pay Borrower any interest or earnings on such proceeds.Fees for public adjusters,or other third parties,retained by Borrower shall not be paid out of the insurance proceeds end shall be the sole obligation of Borrower.If the restoration or repair is not economically feasible or Lender's security would be lessened,the Insurance proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Borrower.Such insurance proceeds shall be applied in the order provided for in Section 2. if Borrower abandons the Property,Lender may tile,negotiate and settle any available Insurance Claim and related matters.if Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may negotiate and settle the claim.The 30-tay period will begin when the notice is given. In either event,or if Lender acquires the Property under Section 22 or otherwise.Borrower hereby assigns to Lender (a)Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note miles Security Instrument,and(b)any other of Borrower's rights(other than the right to any refund of unearned premiums paid by Borrower)under all Insurance policies covering the Property,insofar as such rights are applicable to the coverage of the Property.Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,whether or not then due. COLOR.00-Siyla Family-Pantie Mae/Freddie Mae UNIFORM INSTRUMENT Fore,SONS Mai Initials: EiIe Mas Ino. Page 4 of 9 sem= . osis COEDEED 06‘28/201- Me AM PST 201512098 LOAN#1857506437 6. Occupancy.Borrower shall occupy,establish,and use the Property as Borrower's principal residence within 80 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy,unless Lender otherwise agrees In writing,which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation,Maintenance and Protection of the Property; Inspections.Borrower shall not destroy, damage or impair the Property,allow the Property to deteriorate or commit waste on the Property.Whether or not Borrower is residing In the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition.Unless It 1s determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage.If insurance or condemnation proceeds are paid in connection with damage to,or the taking of, the Property,Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes.Lender may dlabursa proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed.If the Insurance or condemnation proceeds are not sufficient to repair or restore the Property,Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property_if it has reasonable cause, Lender may inspect the interior of the improvements on the Properly.Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application.Borrower shall be kr default if,during the Loan application process,Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,misleading,or inaccurate information or statements to Lender(or failed to provide Lender with material Information) In connection with the Loan. Material representations include,but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest 1n the Property and Rights Under this Security Instrument.If(a)Borrower fails to perform the covenants and agreements contained In this Security Instrument,(b)there is a legal proceeding that might significantly affect Lender's Interest in the Property andlor rights wider this Security Instrument(such as a proceeding in bankruptcy,probate,for condemnation or forfeiture,for enforcement of a lien which may attain priority over this Security instrument orto enforce laws or regulations),or(c)Borrower has abandoned the Properly,then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument.inducting protecting andfor assessing the value of the Property,and securing and/or repairing the Property.Lender's actions can Include,but are not limited to:(a)paying any sums secured by a lien welch has priority over this Security instrument(b)appearing in court and(c)paying reasonable attorneys'fees to protect its Interest in the Property and/or rights under this Security instrument,including Its secured position In a bankruptcy proceeding. Securing the Property Induces,but is not limited to,entering the Property to make repairs,change lodes,replace or board up doors and windows,drain water from pipes,eliminate building or other code violations or dangerous condition,and have utilities turned on or off.Although Lender may take action under this Section 9.Lender does not have to do so and is not under any duty or obligation to do so.It is agreed that Lender incurs no liability for not taking any or ail actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument These amounts shall bear Interest at the Note rate from the date of disbursement and shall be payable,with such Interest,upon notice from Lender to Borrower requesting payment. If this Security instrument is on a leasehold.Borrower shall comply with all the provisions of the lease.Borrower shall not surrender the leasehold estate and Interests herein conveyed or terminate or cancel the ground lease.BomGwer shall not,without the express written consent of Lender,alter or amend the ground lease.If Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in wilting. 10.Mortgage Insurance.If Lender required Mortgage Insurance as a condition of making the Loan,Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect If,for any reason,the Mortgage insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect,at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect,from an alternate mortgage insurer selected by Lender If substantially equivalent Mortgage Insurance coverage is not available,Borrower strati continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect.t.Lender will accept,use and retain these payments as a non- refundable toss reserve in lieu of Mortgage Insurance.Such loss reserve shall be non-refundable,notwithstanding the fact that the Loan is ultimately paid in full,and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve.Lender can no longer require loss reserve payments if Mortgage Insurance coverage(in the amount end for the period that Lender requires)provided by an insurer selected by Leader again becomes avatiabie,is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance.If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect,or to provide a non-refundable loss reserve,until Lender's requirement for Mortgage Insuranos ends in accordance with any written agreement between Borrower and Lender providing for such terrnknation or unfit termination Is required by Applicable Law.Nothing in this Section 10 affects Borrower's obligation to pay Interest at the rate provided in the Note. Mortgage Insurance reimburses Lender(or any entity that purchases the Note)for certain losses it may incur If Borrower does riot repay the Loan es agreed.Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time,and may enter into agreements with other parties that share or modify their risk,or reduce losses.These agreements are on terms and ode Ferny-Fannie MaeIFredgee Mao IJNiFORM INSTRUMENT Fors 30081/01 lnItIala: _ . Elle Mu,Inc. Page 5of9 •. ,.-J• 0315 coeeeea 0526201. , .,AM PST 201512098 LOAN#1557506437 conditions that are satisfactory to the mortgage insurer and the other party(or parties)to these agreements.These agreements may require the mortgage Insurer to make payments using any source of funds that the mortgage Insurer may have available(which may Include funds obtained from Mortgage insurance premiums). As a result of these agreements,Lender any purchaser of the Note,another insurer,any rearsmen any other entity,or any affiliate of any of the foregoing,may receive(directly or indirectly)amounts that derive from(or might be characterized as)a portion of Borrower's payments for Mortgage Insurance,In exchange for sharing or modifying the mortgage t'imer's risk,or reducing losses.If such agreement provides that an affiliate of Lender takes a share of the insurers risk in exchange for a share of the premiums paid to the insurer,the arrangement is often termed"captive reinsurance."Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,or any other terms of the Loan.Such agreements will not Increase the amount Borrower will owe for Mortgage Insurance,and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has-if any.with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law.These rights may include the right to receive certain disclosures,to request and obtain cancellation of the Mortgage Insurance,to have the Mortgage Insurance terminated automatically,and/or to receive a refund of any Mortgage insurance premiums that were unearned at the time of such cancellation or termination. 11.Assignment of Miscellaneous Proceeds;Forfeiture.All Miscellaneous Proceeds are hereby assigned to and shall be paid to lender. If the Property is damaged,such Miscellaneous Proceeds shall be spoiled to restoration or repair of the Property, If the restoration or repair is economically feasible and Lender's security Is not lessened.During such repay and restoration period,Lander shall have the right to hold such Miscellaneous Proceeds unit Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly.Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work Is completed.Unless an agreement Is made in writing or Applicable Law requires Interest to be paid on such Miscellaneous Proceeds,Lender shall not be requked to pay Borrower any interest or earnings on such Miscellaneous Proceeds.If the restoration or repair is not economically feasible or Lender's security would be lessened,the Misceleneous Proceeds shat be applied to the sums secured by tie Sanely Insininent,whether or not then due,with the excess,if any,paid to Borrower.Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking,destruction,or foss hi value of the Property,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Borrower In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property Immediately before the partial taking,destruction,or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking,destruction,or loss In value,unless Borrower and Lender otherwise agree In writing,the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following traction:(a)the total amount of the sums secured Immedlately before the partial taking,destruction,or loss in value divided by(b)the fair market value of the Property immediately before the partial taking,destruction,or loss in value.Any balance shall be paid to Borrower. In the event of a partial teeing,destruction,or loss In value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss kn value la less than the amount of the sums secured immediately before the partial taking,destruction,or lees in value,unless Borrower and Lender otherwise agree In writing,the Miscellaneous Proceeds shall be applied to the sums secured by this Security instrument whether or not the sums are then due. lithe Property is abandoned by Borrower,or if,after notice by Lander to Borrower that the Opposing Party(as defined in the next sentence)offers to make an award to settle a(take for damages,Borrower falls to respond to Lender within 30 days after the date the notice Is given,Lender Is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument,whether or not then due. "Opposing Party"means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action In regard to Miscellaneous Proceeds. Borrower shall be Ni default if any action or proceeding,whether civil or criminal,is begun that,in Lender's judgment. could result In forfeiture of the Property or other material Impairment of Lender's interest in the Property or rights under this Security instrument Borrower can cure such a default and,If acceleration has occurred,reinstate as provided in Section 19,by causing the action or proceeding to be dismissed with a ruling that,in Lender's judgment,precludes forfeiture of the Property or other material impairment of Lender's interest In the Property or rights under this Security Instrument.The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for In Section 2. 12, Borrower Not Released; Forbearance By Lender Not a Waiver.Extension of the time for payment or modification of amortization of the sums secured by this Security instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the labiity of Borrower or any Successors in interest of Borrower.Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower.Any forbearance by Lender in exercising any right or remedy including,without limitation,Lender's acceptance of payments from third persons.entities or Successors In Interest of Borroweror in amounts less than the amount then due,shall not be a waiver of or preclude the exercise of any right or remedy_ 13.Joint and Several Liability;Co-signers;Successors and Assigns Bound.Borrower covenants and agrees that Borrower's obligations and lability shall be Joke and several.However,any Borrower who co•atgns this Security COLORADO-Single Fs I'-Fm+eta MaelFredde Mae UNIFORM INSTRUMENT Form 3006 iter Initials: BIM name& Page B of 9 cam . 0315 r"G,7., O6t2et2016,r Alin PST 201512098 LOAN i:1857505437 Instrument but does not execute the Note(a'co-signer):(a)is co-signing this Security Instrument oniy to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument(b)is not personally obligated to pay the sums secured by this Security Instrument and(c)agrees that Lender and any other Borrower can agree to extend,mocltfy,forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject tothe provisions of Section 18,any Successor in interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing,and is approved by Lender,shall obtain all of Borrower's rights and benefits under this Security Instrument.Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release In writing.The covenants and agreements of this Security Instrument shall bind(except as provided in Section 20)and benefit the successors end assigns of Lender. 14.Loan Charges.Lender may charge Borrower fees for services performed in connection with Borrower's default,for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument,including,but not limited to,attorneys'fees,property inspection and valuation fees.In regard to any other fees,the absence of express authority in this Security instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee.Lender may not charge fees that are expressly prohibited by this Seemly Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges,and that law is finally interpreted so that the interest or other loan charges collected or to be collected In connection with the Loan exceed the permitted limits,then.(a)any such lean charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower.Lender may choose to make this refund by reducing the principal owed under the Note or by ranking a direct payment to Borrower.If a refund reduces principal,the reduction will be treated as a partial prepayment without any prepayment charge(whether or not a prepayment charge is provided for under the Note).Borrower's acceptance of any such refund made by direct payment to Borrower win constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15.Notices.All notices given by Borrower or Lender in connection with this Security instrument must be in writng. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by fist class mall or when actually delivered to Borrower's notice address if sent by other means.Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise.The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address,If Lender specifies a procedure for reporting Borrower's change of address,then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time.Any notice to Lender shall be given by delivering It or by mailing it by first class mai to Lender's address stated herein unless Lender ins designated another address by notice to Borrower.Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender If any notice required by this Security Instrument is also required under Applicable Law,the Applicable Law requirement will satisfy the corresponding requirement under this Security instrument. 16.Governing Law;Severability;Rules of Construction.This Security Instrument shall be governed by federal law and the law cf the jurisdiction In which the Property Is located.All rights and obligations contained In this Security Instrument are subject to any requirements and limitations of Applicable Law.Applicable Law might explicitly or implicitly allow the parties to agree by contract or It might be silent,but such silence shall not be construed as s prohibition against agreement by contract.In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Secretly instrument(a)words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender:(b)words in the singular shall mean and Include the plural and vice versa;and (c)the word'may"gives sole discretion without any obligation to take any action. 17.Borrower's Copy.Borrower shall be given one copy of the Note and of this Security Instrument. 18.Transfer of the Property or a Beneficial Interest In Borrower.As used In this Section 18,'Interest in the Property means any legal or beneficial interest In the Property,including,but not limited to.those beneficial interests transferred in a bond for deed,contract for deed,installment sales contract or escrow agreement,the Intent of which is the transfer of title by Borrower ata future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a benMlo al interest In Borrower is sold or transferred)without Lender's prior written consent.Lender may require immediate payment in full of at sums secured by this Security Instrument.However,this option shall not be exercised by Lender If such exercise is prohibited by Applicable Law. If Lender exercises this option,Lander shall give Borrower notice of acceleration.The notice shall provcte a period of not less than 30 days from the date the notice Is given In accordance with Section 15 within which Borrower must pay all sums secured by this Security instrument.If Borrower falls to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security instrument without further notice or demand on Borrower: 19.Borrower's Right to Reinstate Atter Acceleration.if Borrower meets certain conditions,Borrower shall have the right to have enforcement of this Security instrument discontinued at any time prior to the earliest of(a)five days before sale of the Property pursuant to arty power of sale contained d in this Security instrument;(b)such other period as Applicable Law might specify for the termination of Borrower's right to reinstate;or(c)entry of a judgment enforcing this Security instrument Those conditions are that Borrower:(a)pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred;(b)cures any default of any other covenants or agreements;(c)pays all expenses incurred In enforcing this Security Instrument, Including,but not limited to, reasonable attorneys'fees,properly inspection and valuation fees,and other fees incurred for the purpose of protecting Lender's Interest In the Property and rights under this Security Instrument;and(d)takes such action as Lender COLORADO—Single Family—Rennie ItaelFmiddle Mac UNIFORM USTRUI INT Form 30061#09 Initials: Ela tree,Inc. Page 7 of 9 a osisck coetavo 07:50 AM PST 201512098 LOAN tIt:1857606437 reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument,and Borrower's obligation to pay the sums secured by this Security Instrument,shall continue unchanged.Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms,as selected by Lender.(a)cash;(b)money order;(c)certified check,bank check,treasurer's check or cashier's check,provided any such check Is drawn upon an institution whose deposits are Insured by a federal agency,instrumentality or entity; or(d)Electronic Funds Transfer.Upon reinstatement by Borrower,this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred.However,this right to reinstate ober not apply In the case of acceleration under Section 18. 20.Sale of Nob; Change of Loan Servicer;Notice of Grievance.The Note or a partial interest In the Note (together with this Security Instrument)can be sold one or more times without prior notice to Borrower.A sale might result in a change In the entity(known as the"Loan Servicer)that collects Periodic Payments due under the Note and this Security instrument and performs other mortgage loan servicing obligations under the Note,this Security Instrument,and Applicable Law.There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note.If there Is a change of the Loan Servicer,Borrower will be given written notice of the change which will state the name and address of the new Loan ServIcer,the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing.If the Note is sold and thereafter the Loan Is serviced by a Loan Servicer other than the purchaser of the Note,the mortgage loan servicing obligation to Bonewer will remain with the Loan Servicer or be Transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence,)oin,or be joined to any*eclat action(as either an individual litigant or the member of a class)that arises from the other party's actions pursuant to this Security Instrument or that Mages that the other party has breached any provision of,or any duty owed by reason of.this Security instrument,until such Borrower or Lender has notified the other party(with such notice given in compliance with the requirements of Section 16)of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action.If Applicable Law provides a time period which must elapse before certain action can be taken,that time period v.111 be deemed to be reasonable for purposes of this paragraph.The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall he deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21.Hazardous Substances.As used in this Section 21:(a)"I-lazardous Substances"are those substances defined as toxic or hazardous substances,pollutants,or wastes by Environmental Law and the following substances:gasoline, kerosene,other flammable or toxic petroleum products,toxic pesticides and herbicides,volatile solvents,materials containing asbestos or formaldehyde,and radioactive materials;(b)'Environmental Law"means federal laws and laws of the jurisdiction where the Property is located that relate to health,safety or environmental protection;(c)"Environmental Cleanup"Induces any response action,remedial action,or removal action,as defined in Environmental Law and(d)an "Environmental Condition'means a condition that can cause,contribute to,or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence,use,disposal,storage,or release of any Hazardous Substances,or threaten to release any Hazardous Substances,an or in the Property.Borrower shall not do,nor allow anyone else to do, anything atiectig the Property(a)fist is in violation of any Environmental Lewy,(b)which creates an Environmental Condition, or(c)with,due to the presence,use,or release of a Hazardous Substance,creates a condition that adversely effects the value of the Property.The preceding two sentences shat not apply to the presence,use,or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property(Including,but not limited to,hazardous subeta dee In consumer products). Borrower shell promptly give Lender written notice of(a)arty investigation,claim,demand,lawsuit or other action by any governmental or regulatory agency or private party Involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge,(b)eny Environmental Condition,Including but not limited to,any spilling,leaking,discharge,release or threat of release of any Hazardous Substance.and(c)any condition caused by the presence.use or release or a Hazardous Substance which adversely affects the value of the Property. If Borrower learns,or is notified by any governmental or regulatory authority,or any private party,that any removal or other remediation of any Hazardous Substance affecting the Property is necessary,Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS.Borrower and Lender further covenant and agree as follows: 22 Acceleration;Remedies.Lender shall give notice to Borrower prior to acceleration fallowing Borrower's breach of any covenant or agreement in this Security instrument(but not prior to acceleration under Section 18 unless Applicable Law provides otherwise).The notice shall specify:(a)the deferdt (b)the action required to cure the default;(c)a data,not leas than 30 days from the date the notice Is given to Borrower,by which the default must be cured;and(d)that failure to curs the default on or before the date specified in the notice may result In acceleration of the wine secured by this Security Instrument and sale of the Property.The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foredosure proceeding tie non-existence of a default or any other defense of Borrower to acceleration and sale.If the default is not cured an or before the date specified in the notice,Lander at Its option may require immediate payment in ruff of ail sums secured by this Security Instrument without firther demand and may invoke the power of sale and any other remedies permitted by Applicable Law.Lender shall be entitled to collect all expenses Incurred in pursuing the remedies provided in this Section 22, including,but not limited to,reasonable attorneys'fees and costs of title evidence. If Lender invokes the power of sale,Lender shall give written notice to Trustee of the occurrence of an event of default and of Lender's election to cause the Property to be sold.Lender shall mail a copy of the notice to Borrower as provided in Section 18.Trustee shall record a copy of the notice in the county In which the Property COLORADO-0kyis Famey-Fannie MasiFwddl•Mac unrOsIw 161STSWIENT Rona aco6 N01 Ellis Ma.,Ina Page 8 of 9 ••_•-- t hs (} 06t23f26i• 150 AM PST 201512098 LOAN#1857505437 Is located.Trustee shah publish a notice of sale for the time and In the manner provided by Applicable Law and shall mall copies of the notice of sale In the manner prescribed by Applicable Law to Borrower and to the other persons prescribed by Applicable Law.After the lime required by Applicable Law,Trustee,without demand on Borrower,shall sell the Property at public auction to the highest bidder for cash at the time and place and under the terms designated In the notice of sale in one or mare parcels and In any order Trustee determine.Trustee may postpone sale of any parcel of the Property by public announcement at the time and place of any previously scheduled sale.Lender or its designee may purchase the Property at any sale. Trustee shall leaver to the purchaser Trustee's certificate describing the Property and the time the purchaser win be entitled to Trustee's deed.The recitals In the Trustee's deed shall be prima facie evidence of the truth of the statements made therein.Trustee shall apply the proceeds of the sale in the following order. (a)to all expenses of the sale,Including, but not limited to,reasonable Trustee's and attorneys'fees;(b)to all sums secured by this Security Instrument;and(c)any excess to the person or persons legally entitled to It. 23.Release.Upon payment of all sums secured by this Security Instrument,Lender shall request that Trustee release this Security Instnment and shall produce for Trustee.duty cancelled,all notes evidencing debts secured try this Security Instrument.Trustee shall release this Security lostnanent without further inquiry or lability.Borrower shall - pay any ration costs and the statutory Trustee's fees. 24.Waiver of Homestead.Borrower waives all right of homestead exemption In the Property. BY SIGNING BELOW, Borrower accepts and agr--- r. the terms and coven tamed in this Security Instrument and in any Rider executed by :•-.wer a+• :•• •-• with it. :A" `�� [ry (Seal) MICHA Y;- F� TE 40 .� �•�• / 2/2.c (Seel) Y CCM° DATE STATE OF County as: eat-4762------- The foregoing Instrument was acknowledged before me this 29th day of JUNE,2015,by MICHAEL YACCINO AND IRENE YACCINO. - Witness ray hand and official seal. /� My Commission Expires: 4 e3 /4 CHARTS D.PATTERS.N /; AKA dig NOTARY PUBLIC STATE OF COLORADO • - , .lic NOTARY ID 200840077OP MY COMMISSION EXPIRES 0311312016 Lender:Alpine Bank MILS ID:414674 Loan Originator.Willard John Walsh NMLB 450891 NIYN.S ID:458891 COLORADO Single Fer ly..Fande MeelFredAe lies UNIPPRIA INSTRUMENT Fano 30/81/S1 Inhale: Els Mae,Inc. Page 9 of 9 MISDEED 0316 CDEDEED 0612Er201507:50 Mt PST 201512098 LOAN Sk 1857586437 MIN:1002590-0100006575-9 PLANNED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEVELOPMENT RIDER Is made this 28th day of June,2015 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the"Security Instrument") of the same date,given by the undersigned(the"Borrower")to secure Borrower's Note to Alpine Bank,a Colorado Corporation (the"Lender") of the same date and covering the Property described in the Security Instrument and located at: 1817 Meadow Ridge Rd,unit 1,Yah,CO 81657. The Property includes, but Is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities,as described in COVENANTS,CONDITIONS AND RESTRICTIONS (the"Declaration"). The Property Is a part of a planned unit development known as capstone Townhouses (the"PUD").The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (the"Owners Association")and the uses,benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations,Borrower shall perform all of Borrower's obligations underthe PUD's Constituent Documents.The"Constituent Documents"are the(i) Declaration; (ii)articles of incorporation,trust instrument or any equivalent document which creates the OwnersAssociation;and(iii)any by-laws orather rules or regulations of the Owners Association. Borrower shall prompty pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. 8. Property Insurance. So long as the Owners Association maintains, with a generally accepted Insurance carrier,a"master"or"blanket"pal icy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the 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:(i)Lenderwaives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property;and(ii)Borrower's obligation 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 policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall e Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property,or to corprnon areas and facilities of the PUD,any proceeds payable to Borrower are hereby assigned and shall be paid to Lender.Lender shall apply thedsto the sums secured cid bythBorrower. rity Instrument,whether or not then due, ith the excess, if any.pc to C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to ensure that the Owners Association maintains a public liability insurance policy acceptable in form, amount,and extent of coverage to Lender. I iAUrSISTA'I'!PUD RIDER-Single Family-Fannie Maolfraddlv Mac LRIIFORIIr INSTRUMENT dormrm 81 315�0 1101 Elie Mea.Inc. Page 1412 0115 macaw 0 15 0750 AM FaT 201512098 LOAN#1857506437 D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 11. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: 01 the abandonment or termination of the PUD. except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain;(ii)any amendment to any provision rift "Constituent Documents"if the provision is for the express benefit of Lender;(iii)termination of professional management and assumption ofself-management antis Owne ; or (iv) any action which would have the effect of rendering the pubic Lability insurance coverage maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts csbursed by Lender under this paragraph F shall become additional debt of Borrawersecured by the Security Instrument Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with Interest, upon notice from Lender to Borrower requesting payment. BY SIGNING BELOW, Borrower accep - and agrees to terms and covenants contained I this PUD ide � yZ .� M) NIC ? -ter"NO DATE �` d1 ' er (Seal) IRENE YACCINO DATE 1�ds; MULTISTATE PUD R1D1;R—Sinpia Family--Fannie Mae/Freddie Mac UNFORM INSTRUMENT Fort 31S0 11ai 9'i■Mae,Inc. Page 2 of 2 r31S0ROU 115 >au 0812Q15 GILD AM PST 201512098 LOAN#: 1857505437 MN:1002590-0100008575-9 FIXED/ADJUSTABLE RATE RIDER (UBOR One-Year Index(As Published In The Wall Street Joumal)-Rate Caps) THIS FIXED/ADJUSTABLE RATE RIDER is made this 29th day of June,2015, and Is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the"Security Instrumerr of the same date given by the undersigned (Borrower") to secure Borrower's Adjustable Rate Note(the"Note")to Alpine Bank,a Colorado Corporation mi of the same date and coveringthe ("Lend property described in the Security Instrument and located at 1817 Meadow Ridge Rd,unit 1,vat,CO 81657. THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTER- EST NTEREST RATE TO AN ADJUSTABLE INTEREST RATE.THE NOTE LIMITS THE AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS, In adcftton to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fixed interest rate of 3.0001. The Note also provides for a change in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLEAINTEREST RATE AND MONTHLY PAYMENT CHANGES Tlie I)niti�eDdain�terest rate I will pay will change to an adjustable ingest rate on the let day of July,2022, and the adjustable Interest rate I will pay may change on that day every 12th month thereafter.The date on which my initial fixed interest rate changes to an adjustable interest rate, and each date on whichmy adjustable interest rate could change,is called a`Change Date." (B)The Index Beginning with the first Change Date, my adjustable interest rate will be based on an Index.The"Index"is the average of Interbank offered rates for one-year U.S.dollar- denominated deposits in the London market("LIBOR"),as published in The Wall Street Journal. The most recent Index figure available as of the date 45 days before each Change Date is called the'Current Index." If the Index is no longer available, the Note Holder WE choose a new index that is based upon comparable-information.The Note HolderwE give me notice of this choice. (C)Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND ONE-FOURTH percentage point(s)(2.250% )to the Current Index.The Note Holder will then round the result of this addition up to the near- est one-eighth of one percentage point(0.125%).Subject to the limits stated in Section 4(D)below,this rounded amount will be my new Interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that world be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new Interest rate in substantially equal payments.The result of this calculation will be the new amount of my monthly payment (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 8.000% or less than 2.2,0%. Thereafter, my adustable interest rate will never MULTISTATE FIXEDIADJUSTASLE RATE RIDER.WSJ One-Year LMOR.Single FarnllyFannla Mae Uniform t..., Fenn 3157 Nut Initials: ESe Mee,Ina. Papal of 3 1.00905311 0314 ORLU 08128(201. r •'AM PST 201512098 LOAN#:/857506437 be increased or decreased on any single Change Date by more than TWO percentage point(s)( 2000% )from the rate of interest I have been paying for the preceding 12 month(s). My interest rate will never be greater than 8.000% which is called the"Maximum Rate." (E')Effective Date of Changes My new interest rate will become effective on each Change Date.I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my initial fixed Interest rate to an adjustable Interest rate and of any changes in my adjustable Interest rate before the effw..thre date of any change.The notice will include the amount of my monthly payment, any information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL MITEREST IN BORROWER 1. Until Borrower's initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section A above,Uniform Covenant 18 of the Security instru- ment shall read as follows: Transfer of the Property or a Beneficial Interest in Borrower.As used in this Section 18, "interest in the Property"means any legal or beneficial interest in the Property,including, but not limited those beneficial interests transferred in a bond for deed contract for deed,installment sales contract or escrow agree- ment, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any interest in the Property is sold or trans- ferred(or if Borrower is not a naturalrim and a beneficial interest in Borrower Is sold or transferred)without Lenders prior written consent,Lender may require immediate payment in full of all sums secured by this Security instrument How- ever,this option shall not be exercised by Lender if such exercise Is prohibited by Applicable Law. If Lender exercises this option,Lender shall give Borrower notice of accelera- tion.The notice shall provide a period of not less than 30 days from the date the notice is given In accordance with Section 15 within which Borrower must pay all suras secured by this Security instrument.if Borrower falls to pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 2. When Borrower's initial fixed interest rate changes to an adjustable Interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security instru- ment described in Section B1 above shall then cease to be In effect,and the provisions of Uniform Covenant 18 of the Security Instrument shall be amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower.As used hn this Section 18,Interest in the Property means any legal or beneficial interest in the Properly,including,but not limited to,those beneficial interests transferred in a bond for deed,contract for deed,installment sales contract or escrow agreement, the intent of which is the transfer oftile by Borrower et a future date to a purchaser. if all or any part of the Property or any Interest in the Property is sold or trans- ferred(or If Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred)without Lender's prior written consent,Lender may require Immediate payment in full of all sums secured by this Security Instrument. How- ever,this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b)Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this SecurityInstrument is acceptable to Lender. MULTISTATE PIXERIADJUSTABLE RATE RIDER WSJ Ona•Ysar LIBOR-single Fan/{y-Fannia Nae Uniform 1- fro Fenn 31$?5fe1 Irlttlald: Ego Moan We.. Page 2 of 3 5.r ' DU 0314 S r.fd10RLU 06l26P20 07:50 AM PST 201512098 LOAN tk 1857506437 To the extent permitted byApplicable Law.Lender may charge a reasonable fee as a condition to Lender's consentto the loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep ail the promises and agreements made in the Note and in this Security Instrument Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower In writing. If Lender exercises the option to require Immediate payment in full, Lender shall give Borrower notice of acceleration.The notice shall provide aof not than an 30 days from the date the notice is given In accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument, if Borrower falls to pay these sums prior to the expiration of this period Lender may invoke any remedies permitted by this Security instrument without further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agree to the terms and covenants contai • this stable : --1'.. R' 6 Z (Seal) CCM DATE rte. 6 ,21 peso E YACCINO ik / //s' sej) I DATE MULTISTATE FIXED/ADJUSTABLE RATE RIDER.WEJ Qne-Yaar LIBOR.$inyia Fainly-Fannie Mae Unite=Muit:anent Form 3187 0101 Ewe Mae.Ira. page 3 of 3 L00905310RDU 0314 L00906310RLU 0512612015 0700 AM PST 201512098 .Reoreaa at o'clock_'.1. 1 f I Recereiott No. fishdet V °{ WARRANTY DEED i,,C,A 1 ` h�`�,� � Tii15UREt.lstaietnu f.7 `!G •t Cl �'liC�� - 1 ..,-*/6,1 nii 1990 .t+ctran THE TIAF PJ1l2T1.I:RS}t1Y, a 1 :i Colorado general partnership crthe •E;.^.e,.'l Fagle a`.iF%o' j --- - li Ik -~ 11 CVIAZJ.w.grant.V ah1 .10IRI F . NA D11.1-1k ill - _ •_. whostkgaiaddtrssts c/o Crossroads Realty, 143 E. Meadow Dr. , Suite 391-A, Vail, Colorado 81657 d Lias Cou:st..1 Eagle am!Srarr..0 C idnraJ.a.ftai o MIIhi_SKIIl.uutow r+mne.asrdm..st.:lnnnK..o'h •v0r."Tvn and 00/100ths Dollflrl3 (Si U.0 1 0 and other good and valuable connideratron ------- txntRs. I, ust(StiilOahu Mac nil ofuhxht•heteb}x3no.kdeni.ha.Frut.A.hug a.n.I.‘014ar.itis•teal.add tn.the.eptc.entadeo t1-4nt.lai pin.ull. 1 cowryatxitvafirn.untothegranter.hrsrumaxlaools+Fn,er.alltheredreore/t.tvyheawrtttmgvv.rteteas.Lias..utuet.I)lrgsoaking Inthe t rived}or Eagle aml Slay or Colorado de4nhed as!shat . 1 Unit 3, CAPSTONE TOUN1[OUSES, according to the Plat recorded November 28, 1978, in Book 278 at Page 970 - i O .t ;t 11 d) .I L'3 - hl 8 ulrwnbyWort aMJovntierm-1817 Meadow Ridge Road, No. 3, Vail, Colorado 81657 .• .ata — _ TOGETHER with all And%norm the hercalunurn Jost appurivnanac,thud..hk>npag..r to,n)+.ase aperutnmg,and the Tornio°and ICwenkrn.Rmi.r,.et and trerturkfets.rent..issues a'.i;mists,isn..l.ass all the sloes.n fhl.nate.t-^.terco.*la tot tw 1 demand v.hal.orsrr of the f•) Valor.titherinInk sreguaty.of.mand tothe ANA.;h:rfa:;:.!prrt:w' .sththe ty appuiletanacs TO Its E AND 101 t hq a1 Fscn ata^ ams d and dos rth:d uh lhr a ttcnan.n.unto the(roam.his Mitt and atUgma IL.w •• i_ su c`)esooras anti flop 'ens C3 CC GxnruAnd the grantor.fo•�4r+w'rN*1r++ias r....Al -a.van. ata.and mike toands tthdlgranttt.hishtWand rn o mum.that althe time ofthe twain,and&4wrr)oft hesprt.enao.sellsetrcJofthe pre now.assns..o.tt~t,het good.wee.fstkct.abs l.tC . - CB d4 II `.^t L4ft�tc wilts aioaLenu6e.lata .In foe ser..ele.an.l hngr luftd_lull puce and Ira ret=yummy m Ftmr.�wi,ai:.r:.—':-:..:i .: a _ 0. - Ii ii En punnet l7J&ran as afires,iJ,acyl thJ!six same are[ne,rJ Jear hoot all bsatt,ani.rhes grants.twglcm.saki.Bear.airs.awustitYaif. ; .. cncuertMces An"num-Dons oaw[a.z.rri...i.........>...,.,..,.,: for :^'f ..Meet to thnan sattora `1 _ M set forth on Exhibit A attached hereto and incorporated herein by 4 this reference. TMThe grzrttorshill'Mu tII%VIRWAStAND FMMRE-ti111.1) lt.Iltheahne bargrrsdmat l csrntheTarra>xdpexeabkfuuessi.mdi efte1ce. hlt hetat and assignsC2 6- ,soma all V►1 n�l rens r.r r(1401111Ir.1.I!).latmt..g the whole et in)p a tar m<T he smguiss number dull IN:hoJe the!masa}. cryo the plural the sin futar.and the our of any gender.tuft knlm arable ill[mass U y! VA%%ro I.c.s Ikami-the grua.:lias eta%t.d this'J.:0 oa.IA•.a.y,lt hlllFtle PARTNERSHIP,P, a 4 f Colorado cnoral BY _pnrtneroh� l flyby 111. F at, Parthpr i fly / I i.� Lill- Ser •"" !.., STAli:gl•4:4iuA� m . 8 Jura cin, an ii ggr�+ ; L'.i. }t- c..m.).4attetney-in-fact fur John F.IZ IllNadler, Part-nor Ji E{ Ihai�trjanngItinn,sestau&IONAIrdolfrgtemet-L, da ad .19 90 . : !a Iby-David H. Portent, Pnrtnor on hcIia1L of The NAF Partatertaltap, a , Colorado rjanerfll pArtnurnhi[a. i 0%g1r w,, «.•r.. 'l9 Id.rr.,.i.3 L�.sa.`.t•ah..,l.. a f(D� i.!' 33 kl l F1K4 ft". if 4 s a it J •raa� Pi V IV\ A it___ I1. '1f an!trait►.word"Coy and" i..\ IT , . . No.91M.Rar.T-$I. itOORtnVDNIll.t-oIss.,-gys.rK.e.J. Vv. . ;Lin i - a -.. ,....a noir'._ ••....-:4a, all STATE OF COLORADO ) CITY AND ) ss. COUNTY OF DRNVRR ) _--... The fo egoing instrument was acknowledged before me this /La, - - day of /41q.. , 1.990, by William M. Silberstein as atturnev-i fact for Johan E. Nadler, Partner of The Nitr' partner- - dhip, a Colorado general partnership. . WITNESS my hand and official seal. • 3 i • •0`,"-Mr-cUmmission expires: 5/trimht r `. .f ,"-f 'i . . .• Notary Public 4 a. 0 afi N _ r 1 —. i:' - - [fi H I ., - N. Cie e4 2 1 2 a, - ti 7 -2- - a r. • • • EXHIBIT A --- 1. General real property taxes and assessments for the calendar year 1990, payable in 1991, and subsequent years. 2. Right of proprietor of a vein or lode to extract and remove his ore therefrom should the same be found to penetrate or the nr.3mia..a an reserved in United States Patent recorded October 4, 1918, in Book 93 at Page 301. 3. Right of way for ditches or canals constructed by the authority of the United States as reserved in United States Patent recorded October 4, 1918, in Book 93 at Page 301. • 4. Restrictive covenants as contained in instrument recorded October 8, 1963, in Book 178 at Page 75 as amended in instrument recorded April 1, 1966, in Book 192 at Page 343 and as amended in instrument recorded May 25, 1966, in Book 197 at Page 1. - 5. Utility and drainage easement affecting Lot 21, A Resub- division of Buffer Creek as shown on the recorded plat of Capstone Townhouses. 6. Access easement and parking as shown on the recorded plat of Capstone Townhouses. 7. Terms, conditions, provisions and easements as contained in Townhouse Dec aratinn and Party Wall Agreement recorded _ November 28, 1978, in Book 278 at Page 369. rn 8. The effect, if any, of non-closure of Lot 21, A Resubdivision of Buffer Creek. ht Q �. ao -_ .n r a - u� r m . co • .Reoreaa at o'clock_'.1. 1 f I Recereiott No. fishdet V °{ WARRANTY DEED i,,C,A 1 ` h�`�,� � Tii15UREt.lstaietnu f.7 `!G •t Cl �'liC�� - 1 ..,-*/6,1 nii 1990 .t+ctran THE TIAF PJ1l2T1.I:RS}t1Y, a 1 :i Colorado general partnership crthe •E;.^.e,.'l Fagle a`.iF%o' j --- - li Ik -~ 11 CVIAZJ.w.grant.V ah1 .10IRI F . NA D11.1-1k ill - _ •_. whostkgaiaddtrssts c/o Crossroads Realty, 143 E. Meadow Dr. , Suite 391-A, Vail, Colorado 81657 d Lias Cou:st..1 Eagle am!Srarr..0 C idnraJ.a.ftai o MIIhi_SKIIl.uutow r+mne.asrdm..st.:lnnnK..o'h •v0r."Tvn and 00/100ths Dollflrl3 (Si U.0 1 0 and other good and valuable connideratron ------- txntRs. I, ust(StiilOahu Mac nil ofuhxht•heteb}x3no.kdeni.ha.Frut.A.hug a.n.I.‘014ar.itis•teal.add tn.the.eptc.entadeo t1-4nt.lai pin.ull. 1 cowryatxitvafirn.untothegranter.hrsrumaxlaools+Fn,er.alltheredreore/t.tvyheawrtttmgvv.rteteas.Lias..utuet.I)lrgsoaking Inthe t rived}or Eagle aml Slay or Colorado de4nhed as!shat . 1 Unit 3, CAPSTONE TOUN1[OUSES, according to the Plat recorded November 28, 1978, in Book 278 at Page 970 - i O .t ;t 11 d) .I L'3 - hl 8 ulrwnbyWort aMJovntierm-1817 Meadow Ridge Road, No. 3, Vail, Colorado 81657 .• .ata — _ TOGETHER with all And%norm the hercalunurn Jost appurivnanac,thud..hk>npag..r to,n)+.ase aperutnmg,and the Tornio°and ICwenkrn.Rmi.r,.et and trerturkfets.rent..issues a'.i;mists,isn..l.ass all the sloes.n fhl.nate.t-^.terco.*la tot tw 1 demand v.hal.orsrr of the f•) Valor.titherinInk sreguaty.of.mand tothe ANA.;h:rfa:;:.!prrt:w' .sththe ty appuiletanacs TO Its E AND 101 t hq a1 Fscn ata^ ams d and dos rth:d uh lhr a ttcnan.n.unto the(roam.his Mitt and atUgma IL.w •• i_ su c`)esooras anti flop 'ens C3 CC GxnruAnd the grantor.fo•�4r+w'rN*1r++ias r....Al -a.van. ata.and mike toands tthdlgranttt.hishtWand rn o mum.that althe time ofthe twain,and&4wrr)oft hesprt.enao.sellsetrcJofthe pre now.assns..o.tt~t,het good.wee.fstkct.abs l.tC . - CB d4 II `.^t L4ft�tc wilts aioaLenu6e.lata .In foe ser..ele.an.l hngr luftd_lull puce and Ira ret=yummy m Ftmr.�wi,ai:.r:.—':-:..:i .: a _ 0. - Ii ii En punnet l7J&ran as afires,iJ,acyl thJ!six same are[ne,rJ Jear hoot all bsatt,ani.rhes grants.twglcm.saki.Bear.airs.awustitYaif. ; .. cncuertMces An"num-Dons oaw[a.z.rri...i.........>...,.,..,.,: for :^'f ..Meet to thnan sattora `1 _ M set forth on Exhibit A attached hereto and incorporated herein by 4 this reference. TMThe grzrttorshill'Mu tII%VIRWAStAND FMMRE-ti111.1) lt.Iltheahne bargrrsdmat l csrntheTarra>xdpexeabkfuuessi.mdi efte1ce. hlt hetat and assignsC2 6- ,soma all V►1 n�l rens r.r r(1401111Ir.1.I!).latmt..g the whole et in)p a tar m<T he smguiss number dull IN:hoJe the!masa}. cryo the plural the sin futar.and the our of any gender.tuft knlm arable ill[mass U y! VA%%ro I.c.s Ikami-the grua.:lias eta%t.d this'J.:0 oa.IA•.a.y,lt hlllFtle PARTNERSHIP,P, a 4 f Colorado cnoral BY _pnrtneroh� l flyby 111. F at, Parthpr i fly / I i.� Lill- Ser •"" !.., STAli:gl•4:4iuA� m . 8 Jura cin, an ii ggr�+ ; L'.i. }t- c..m.).4attetney-in-fact fur John F.IZ IllNadler, Part-nor Ji E{ Ihai�trjanngItinn,sestau&IONAIrdolfrgtemet-L, da ad .19 90 . : !a Iby-David H. Portent, Pnrtnor on hcIia1L of The NAF Partatertaltap, a , Colorado rjanerfll pArtnurnhi[a. i 0%g1r w,, «.•r.. 'l9 Id.rr.,.i.3 L�.sa.`.t•ah..,l.. a f(D� i.!' 33 kl l F1K4 ft". if 4 s a it J •raa� Pi V IV\ A it___ I1. '1f an!trait►.word"Coy and" i..\ IT , . . No.91M.Rar.T-$I. itOORtnVDNIll.t-oIss.,-gys.rK.e.J. Vv. . ;Lin i - a -.. ,....a noir'._ ••....-:4a, all STATE OF COLORADO ) CITY AND ) ss. COUNTY OF DRNVRR ) _--... The fo egoing instrument was acknowledged before me this /La, - - day of /41q.. , 1.990, by William M. Silberstein as atturnev-i fact for Johan E. Nadler, Partner of The Nitr' partner- - dhip, a Colorado general partnership. . WITNESS my hand and official seal. • 3 i • •0`,"-Mr-cUmmission expires: 5/trimht r `. .f ,"-f 'i . . .• Notary Public 4 a. 0 afi N _ r 1 —. i:' - - [fi H I ., - N. Cie e4 2 1 2 a, - ti 7 -2- - a r. • • • EXHIBIT A --- 1. General real property taxes and assessments for the calendar year 1990, payable in 1991, and subsequent years. 2. Right of proprietor of a vein or lode to extract and remove his ore therefrom should the same be found to penetrate or the nr.3mia..a an reserved in United States Patent recorded October 4, 1918, in Book 93 at Page 301. 3. Right of way for ditches or canals constructed by the authority of the United States as reserved in United States Patent recorded October 4, 1918, in Book 93 at Page 301. • 4. Restrictive covenants as contained in instrument recorded October 8, 1963, in Book 178 at Page 75 as amended in instrument recorded April 1, 1966, in Book 192 at Page 343 and as amended in instrument recorded May 25, 1966, in Book 197 at Page 1. - 5. Utility and drainage easement affecting Lot 21, A Resub- division of Buffer Creek as shown on the recorded plat of Capstone Townhouses. 6. Access easement and parking as shown on the recorded plat of Capstone Townhouses. 7. Terms, conditions, provisions and easements as contained in Townhouse Dec aratinn and Party Wall Agreement recorded _ November 28, 1978, in Book 278 at Page 369. rn 8. The effect, if any, of non-closure of Lot 21, A Resubdivision of Buffer Creek. ht Q �. ao -_ .n r a - u� r m . co • Eagle County,CO 201324497 Teak J Simonton 12/12/2013 Pgs: 7 02:08:56 PM REC: $41.00 DOC:$0.00 Return to: FirstBank - Loan Operations, P.O. Box 151515, Lakewood, CO 80215 Space Above This Line For Recording Data DEED OF TRUST 'S. 1 ' (With Future Advance Clause) 'rl This is a Revolving Credit Arrangement DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is December 2, 2013. The parties and their addresses are: GRANTOR: MARC LEVARN 1817 Meadow Ridge Road Unit 4 Vail, CO 81657 MARIA A LEVARN 1817 Meadow Ridge Road Unit 4 Vail, CO 81657 TRUSTEE: PUBLIC TRUSTEE OF EAGLE COUNTY, COLORADO LENDER: FIRSTBANK Organized and existing under the laws of Colorado 10403 West Colfax Avenue Lakewood, CO 80215 1. 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 following described property: Unit 4, Capstone Townhouses, according to the Plat recorded November 28, 1978 in Book 278 at Page 970, County of Eagle, State of Colorado. The property is located in Eagle County at 1817 Meadow Ridge Road Unit 4, Vail, Colorado 81657. Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, 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 effect until the Secured Debts and all underlying agreements have been terminated in writing by Lender. 2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time and from time to time will not exceed $75,000.00. Any limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation 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. Marc LeVarn Colorado Deed Of Trust CO/4MMHENSON00000000000665026112713N Wolters Kluwer Financial Services:1996,2013 Bankers Systems" Page 1 5 ► 5 3k.0*2�n ZZ 3. SECURED DEBTS AND FUTURE ADVANCES. The term "Secured Debts" includes and this Security Instrument will secure each of the following: A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and replacements. A promissory note or other agreement, No. 5153624722, dated December 2, 2013, from Grantor to Lender, with a maximum credit limit of $75,000.00, with an initial interest rate of 4.250 percent per year (this is a variable interest rate and may change as the promissory note prescribes) and maturing on December 2, 2023. B. Future Advances. All future advances from Lender to Grantor under the Specific Debts executed by Grantor in favor of Lender after this Security Instrument. If more than one person signs this Security Instrument, 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. All 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. In the event that Lender fails to provide any required notice of the right of rescission, Lender waives any subsequent security interest in the Grantor's principal dwelling that is created by this Security Instrument. This Security Instrument will not secure any other debt if Lender fails, with respect to that other debt, to fulfill any necessary requirements or limitations of Sections 19(a), 32, or 35 of Regulation Z. C. All Debts. All present and future debts from Grantor 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. If 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 commitment must be in writing. In the event that Lender fails to provide any required notice of the right of rescission, Lender waives any subsequent security interest in the Grantor's principal dwelling that is created by this Security Instrument. This Security Instrument will not secure any debt for which 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. 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 fails, with respect to that other debt, to fulfill any necessary requirements or limitations of Sections 19(a), 32, or 35 of Regulation Z. D. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security Instrument. 4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in accordance with the terms of the Secured Debts and this Security Instrument. 5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed 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. 6. 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. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written consent. 7. CLAIMS AGAINST TITLE. Grantor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender may require Grantor to Marc LeVarn Colorado Deed Of Trust C0/4MMHENSON00000000000665026112713N Wolters Kluwer Financial Services 01996,2013 Bankers Systems"" Page 2 201324497 • provide to Lender copies of all notices that such amounts are due and the receipts evidencing Grantor's payment. Grantor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Grantor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Grantor may have against parties who supply labor or materials to maintain or improve the Property. 8. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. 9. WARRANTIES AND REPRESENTATIONS. Grantor has the right and authority to enter into this Security Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing Grantor or to which Grantor is a party. 10. PROPERTY CONDITION, ALTERATIONS, INSPECTION, VALUATION AND APPRAISAL. Grantor will keep the Property in good condition and make all repairs that are reasonably necessary. Grantor will not commit or allow any waste, impairment, or deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses. Grantor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Grantor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. Grantor will notify Lender of all demands, proceedings, claims, and actions against Grantor, and of any loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time and frequency for the purpose of inspecting, valuating, or appraising the Property. Lender will give Grantor notice at the time of or before an on-site inspection, valuation, or appraisal for on-going due diligence or otherwise specifying a reasonable purpose. Any inspection, valuation or appraisal of the Property will be entirely for Lender's benefit and Grantor will in no way rely on Lender's inspection, valuation or appraisal for its own purpose, except as otherwise provided by law. 11. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Grantor appoints Lender as attorney in fact to sign Grantor's name or pay any amount necessary for performance. Lender's right to perform for Grantor will not create an obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction. 12. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to Lender as additional security all the right, title and interest in the following (Property): existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, including any extensions, renewals, modifications or replacements (Leases); and rents, issues and profits (Rents). In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be regarded as a security agreement. Grantor will promptly provide Lender with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be provided on execution of the Assignment, and all future Leases and any other information with respect to these Leases will be provided immediately after they are executed. Grantor may collect, receive, enjoy and use the Rents so long as Grantor is not in default. Upon default, Grantor will receive any Rents in trust for Lender and Grantor will not commingle the Rents with any other funds. Grantor agrees that this Security Instrument is immediately effective between Grantor and Lender. This Security Instrument will remain effective during any statutory redemption period until the Secured Debts are satisfied. As long as this Assignment is in effect, Grantor warrants and represents that no default exists under the Leases, and the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and tenants. 13. DEED OF TRUST COVENANTS. Grantor agrees that the covenants in this Security Instrument are material obligations under the Secured Debts and this Security Instrument. If Grantor breaches any covenant in this Security Instrument, Lender may refuse to make additional extensions of credit or may reduce the credit limit. Marc LeVarn Colorado Deed Of Trust COl4MMHENSON00000000000665026112713N Wolters Kluwer Financial Services 01996,2013 Bankers Systems' Page 3 201324497 By not exercising either remedy on Grantor's breach, Lender does not waive Lender's right to later consider the event a breach if it happens again. 14. DEFAULT. Grantor will be in default if any of the following events (known separately and collectively as an Event of Default) occur: A. Fraud. Grantor engages in fraud or material misrepresentation in connection with the Secured Debts. B. Payments. Any party obligated on the Secured Debts fails to make a payment when due. C. Property. Any action or inaction occurs that adversely affects the Property or Lender's rights in the Property. 15. REMEDIES ON DEFAULT. In addition to any other remedy available under the terms of this Security Instrument, Lender may accelerate the Secured Debts and foreclose this Security Instrument in a manner provided by law if Grantor is in default. In some instances, federal and state law will require Lender to provide Grantor with notice of the right to cure, or other notices and may establish time schedules for foreclosure actions. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal will become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. Lender will be entitled to, without limitation, the power to sell the Property or foreclose on installments without acceleration. If there is a default, Trustee will, at the request of Lender, advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash. Trustee will give notice of sale including the time, terms and place of sale and a description of the Property to be sold as required by applicable law in effect at the time of the proposed sale. Upon any sale of the Property, Trustee will make and deliver a special or limited warranty deed that conveys the property sold to the purchaser or purchasers. Under this special or limited warranty deed, Trustee will covenant that Trustee has not caused or allowed a lien or an encumbrance to burden the Property and that Trustee will specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims and demand of all persons claiming by, through or under Trustee. Upon sale of the Property and to the extent not prohibited by law and after first paying all fees, charges and costs, Trustee will pay to Lender all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and interest thereon, and the principal and interest on the Secured Debts, paying the surplus, if any, to Grantor. Lender may purchase the Property. Upon any sale of the Property, Trustee will make and deliver a special or limited warranty deed that conveys the property sold to the purchaser or purchasers. Under this special or limited warranty deed, Trustee will covenant that Trustee has not caused or allowed a lien or an encumbrance to burden the Property and that Trustee will specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims and demand of all persons claiming by, through or under Trustee. The recitals in any deed of conveyance will be prima facie evidence of the facts set forth therein. The acceptance by Lender of any sum in payment or partial payment on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are filed will not constitute a waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Grantor's default, Lender does not waive Lender's right to later consider the event a default if it happens again. 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Grantor breaches any covenant in this Security Instrument, Grantor agrees to pay all expenses Lender incurs in performing such covenants or protecting its security interest in the Property. Such expenses include, but are not limited to, fees incurred for inspecting, valuating, appraising, preserving, or otherwise protecting the Property and Lender's security interest. Grantor agrees to pay all costs and expenses incurred by Lender in collecting, enforcing, or protecting Lender's rights and remedies under this Security Instrument or any other document relating to the Secured Debts. Expenses include, but are not limited to, reasonable attorneys' fees not in excess of 15 percent of the unpaid debt after default and referral to an attorney who is not a salaried employee of Lender or such additional fee as may be awarded by the court. These expenses are payable on demand and will bear Marc LeVarn Colorado Deed Of Trust C0/4MMHENSON00000000000665026112713N Wolters Kluwer Financial Services°1996,2013 Bankers Systeme' Page 4 201324497 interest from the date of payment until paid in full at the highest interest rate in effect as provided for in the terms of Secured Debts. In addition, to the extent permitted by the United States Bankruptcy Code, Grantor agrees to pay the reasonable attorneys' fees incurred by Lender to protect Lender's rights and interests in connection with any bankruptcy proceedings initiated by or against Grantor. This Security Instrument will remain in effect until released. Grantor agrees to pay for any recordation costs of such release. 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance" under any Environmental Law. Grantor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance is or will be located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in writing to Lender, Grantor and every tenant have been, are, and will remain in full compliance with any applicable Environmental Law. C. Grantor will immediately notify Lender if a release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In such an event, Grantor will take all necessary remedial action in accordance with any Environmental Law. D. Grantor will immediately notify Lender in writing as soon as Grantor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 18. CONDEMNATION. Grantor will give Lender prompt notice of any pending or threatened action by private or public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Grantor authorizes Lender to intervene in Grantor's name in any of the above described actions or claims. Grantor assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds will be considered payments and will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 19. INSURANCE. Grantor agrees to keep the Property insured against the risks reasonably associated with the Property. Grantor will maintain this insurance in the amounts Lender requires. This insurance will last until the Property is released from this Security Instrument. What Lender requires pursuant to the preceding two sentences can change during the term of the Secured Debts. Grantor may choose the insurance company, subject to Lender's approval, which will not be unreasonably withheld. All insurance policies and renewals shall include a standard "mortgage clause" (or "lender loss payable clause") endorsement that names Lender as "mortgagee" and "loss payee". If required by Lender, all insurance policies and renewals will also include an "additional insured" endorsement that names Lender as an "additional insured". If required by Lender, Grantor agrees to maintain comprehensive general liability insurance and rental loss or business interruption insurance in amounts and under policies acceptable to Lender. The comprehensive general liability insurance must name Lender as an additional insured. The rental loss or business interruption insurance must be in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing). Grantor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will be applied to restoration or repair of the Property or to the Secured Debts, at Lender's option. If Lender Marc LeVarn Colorado Deed Of Trust CO/4MMHENSON00000000000665026112713N Wolters Kluwer Financial Services 01996,2013 Bankers Systems," Page 5 201324497 acquires the Property in damaged condition, Grantor's rights to any insurance policies and proceeds will pass to Lender to the extent of the Secured Debts. Grantor will immediately notify Lender of cancellation or termination of insurance. If Grantor fails to keep the Property insured, Lender may obtain insurance to protect Lender's interest in the Property and Grantor will pay for the insurance on Lender's demand. Lender may demand that Grantor pay for the insurance all at once, or Lender may add the insurance premiums to the balance of the Secured Debts and charge interest on it at the rate that applies to the Secured Debts. This insurance may include coverages not originally required of Grantor, may 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 of this insurance. 20. ESCROW FOR TAXES AND INSURANCE. Grantor will not be required to pay to Lender funds for taxes and insurance in escrow. 21. WAIVERS. Except to the extent prohibited by law, Grantor waives all appraisement and homestead exemption rights relating to the Property. 22. 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 in writing by Lender. B. No Action by Lender. Nothing contained in this Security Instrument shall require Lender to take any action. 23. 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 state laws are preempted by federal law. 24. JOINT AND INDIVIDUAL 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 and benefits of this Security Instrument will bind and benefit the successors and assigns of Lender and Grantor. 25. AMENDMENT, INTEGRATION AND SEVERABILITY. 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 and executed by Grantor and Lender. 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. 26. 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. 27. 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 will 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 Marc LeVarn Colorado Deed Of Trust CO/4MMHENSON00000000000666026112713N Wolters Kluwer Financial Services®1996,2013 Bankers Systems"' Page 6 201324497 necessary to perfect, continue, and preserve Grantor's obligations under this Security Instrument and to confirm Lender's lien status on any Property, and Grantor agrees to pay all expenses, charges and taxes in connection with the preparation and recording thereof. Time is of the essence. SIGNATURES. By signing, Grantor agrees to the terms and covenants contained in this Security Instrument. Grantor also acknowledges receipt of a copy of this Security Instrument. GRANTO �J � ) / 7 v"11 . l Date /2 / ..- C J( l Marc LeVarn Individually {� 4Jri,.4 d".Nl-------_ Date I Z H Maria A LeVarn 1 Indivi ually ACKNOWLEDGMENT. STATE OF COLORADO , Cs . y OF EAGLE ss. This instrument was acknowledged before me this • d- of December 2013 by Marc LeVarn , and Maria A LeVarn . `1 My commission expires:a2/1/1.67 12 ."(,) i / (NotYP NANCY W PETTIT NOTARY PUBLIC STATE OF COLORADO NOTARY ID 19Q24010508 MY CC%';,,7`-., 'F��;�7.^AUGUST 11 2016 Marc LeVarn Colorado Deed Of Trust C0/4MMHENSON00000000000665026112713N Wolters Kluwer Financial Services e1996,2013 Bankers Systeme' Page 7 201324497 EAGLE COUNTY, CO 201217682 TEAK J SIMONTON Pgs: 18 10:46:22AM 09/05/2012 EEC: $ $96.00 DOC: $ After recording please return to: NYCB Mortgage Company, LLC Final Documents Department [Name] [Attention] 1801 East 9th Street,Mail Code 01199.0401 [Street Address] Cleveland,Ohio 44114-3516 [City,State Zip Code] [Space Above This Line For Recording Data] - Loan Number:6233689 MIN:100995500062336890 11 7T1 ClI. ,riJITs;.1. UFFINITIONS .i r__-l_-..._a :_ .......la:...le,. ,.r1.:.. a,.,...«.,...... a defined bei.,,,,....d stye~.a,..r.is are defined in Sections 2 11 VVVIUJ UJGU Ill multiple sections of LIIIJ document are Uk.l UIk.0 below a other VVVI VJ uak.SWLILa..k.in Sections 13, 18,20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument"means this document,which is dated August 29,2012,together with all Riders to this do LIV VUIlIen11 t L. B) "Borrower" is Marc LeVarn and Maria A LeVarn,Joint Tenants. Borrower is the trustor under this Security Instrument. (C) "Lender"is Mortgage Real Estate Services,Inc.. Lender is a corporation organized and existing under the laws of The State of Colorado. Lender's address is 12178 E Amherst Cir,Aurora,CO 80014. (D) "Trustee"is the Public Trustee of Eagle County,Colorado. (E) "NIERS"is Mortgage Electronic Registration Systems,Inc. MERS 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 Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O.Box 2026,Flint,MI 48501-2026,tel.(888)679-MERS. (F) "Note"means the promissory note signed by Borrower and dated August 29,2012. The Note states that Borrower owes Lender Two Hundred Eighty Five Thousand and 00/100ths Dollars (U.S. $285,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than September 1,2042. Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 n,rrno Modified The Compliance Source,Inc. Pagel of34-_.Modified by Compliance Source 14301C0 08/00 Rev.04/08 www enmplianrrsnurre,cnm ©2000.The Compliance Source.Inc. p... ; 3 6233689 201217682 1 OF 18 (C) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (H) "Loan"means the debt evidenced by the Note,plus interest,any prepayment charges and late charges due under the Note,and all sums due under this Security Instrument,plus interest. (I) "Riders"" allRiders thisSecurity Instrument that areexecuted Borrower. The following Bluets means to by o Riders are to be executed by Borrower[check box as applicable]: ❑ Adjustable Rate Rider ❑ Condominium Rider ❑ Second Home Rider 1-1 Balloon Rider M Planned Unit Development Rider L i Biweekly Payment Rider ❑ 1-4 Family Rider ❑ Revocable Trust Rider LJ Other(s)[specify] („II "Applicable Lawn meant all controlling applicable federal,state and local statutes,regulations,ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (K) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft,or similar paper instrument,which is initiated through an electronic terminal,telephonic instrument,computer, or magnetic tape so as to order,instruct,or authorize a financial institution to debit nr credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone,wire transfers,and automated clearinghouse transfers. (NI) "Escrow Items"means those items that are described in Section 2 (N) "Miscellaneous Proceeds"means any compensation, settlement, award of damages,or proceeds paid by any third party(other than insurance proceeds paid under the coverages described in Section 5)for: (i)damage to, or destruction of the Property (ii)condemnation or other taking of all or any part of the Property;(iii)conveyance in lieu of condemnation;or(iv)misrepresentations of,or omissions as to,the value andi'or condition of the Property. (0) "Mortgage Insurance"means insurance protecting Lender against the nonpayment of, or default on,the ( Dan (P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note,plus(ii)any amounts under Section 3 of this Security Instrument. (Q) "REL'JPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation,Regulation X(24 C.F.R.Part 3500),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 Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 (VIERS(Modified The Compliance Source,Inc. Page 2 of 14 Modified by Compiiance Source 1430100 08/00 Rev.04/08 piianceseurc ©2000,The Compliance Source,Inc. .......................,.,..._..._.,... 6233639 201217682 2 OF 18 Instrument, "RESPA" refers to all requirements 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 RESPA. (R) "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 THE PROPERTY The beneficiary of this Security instrument is HERS (solely as a nominee for Lender and Lender's successors and assigns)and the successors and assigns of MERS. This Security Instrument secures to Lender: (i) the repayment of the Loan,and all renewals,extensions and modifications of the Note;and(ii)the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose,Borrower,in consideration of the debt and the trust herein created,irrevocably grants and conveys to Trustee,in trust,with power of sale,the following described property located in the County of Eagle [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] See Attached Exhibit A which currently has the address of 1817 Meadow Ridge Rd#4 [Street] Vail, Colorado 81657 ("Property Address"): [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part 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 MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, HERS (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,but not limited to,releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered,except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands,subject to any encumbrances of record and liens for taXe3 for the current year not yet due and payable. Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 MERS Modified The Compliance Source,Inc. Page 3 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 wivw.co...prianccsonrce ©2000,The Compliance Source.Inc. .,..a.. 6233689 201217682 3 OF 18 THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of,and interest on,the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S.currency. However,if any check or other instrument received by Lender as payment under the Note or this Security instrument is returned to Lender unpaid,Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms,as selected by Lender: (a)cash; (b)money order;(c)certified check; bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,instrumentality,or entity;or(d)Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current,without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future,but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so . ;ti. " a reasonable period of time,Lender shall either apply such funds or return them to Borrower. If not applied earlier,such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments dueunder Note this Security Instrument or perform;pg then ants and agreements secured by this the and Instrument t...,..,, g ..,., ..^`✓en....., ...... agreements ......»..... ..� Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2,all payments accepted and applied by Lender shall be applied in the following order of priority: (a)interest due under the Note; (b) due under the amounts due Section'2 C,»eh payments shall ha applied to each Periodic principalNote;(c)....,.,.... underr»r..._..._ —rr---- Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges,second to any other amounts due under this Security instrument,and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amounto late charge due,the payment may he applied to the delinquent payment and charge. If t.�pay any ,,..a.b., ... � ...,»rr.._» ... .--- --�------r-�------- the late g more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,and to the extent that,each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments,such excess may be applied to anylate charges due- Voluntary prepayments shall be applied first to any prepayment charges and _.. _ —a-- then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments. 3. Funds for Escrow items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note,until the Note is paid in full,a sum(the"Funds")to provide for payment of amounts due for: (a)taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c)premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform instrument Form 3006 1/01 NIERS Nlodnleu' The Compliance Source,Inc. Page 4 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 ....w.co mp iancsourcc.com (62000,The Compliance Source,inc. 6233689 201217682 4 OF 18 Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues,Fees, and Assessments, if any, be escrowed by Borrower, and such dues,fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,Borrower shall pay directly,when and where payable,the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument,as the phrase"covenant and agreement"is used in Section 9. If Borrower is obligated to pay Escrow items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow items at any time by a notice given in accordance with Section 15 and,upon such revocation,Borrower shall pay to Lender all Funds,and in such amounts,that are then required under this Section 3. Lender may,at any time,collect and hold Funds in an amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA, and(b)not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency,instrumentality,or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding applying Funds,annually analyzing escrow ar•r•onnt or verifying i.viuwt-,anduNN y,.s the the , �...a the Escrow Items,unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree J�"g however, interest nn the Fonds i enrder shall give to Borrower, without charge, r'i F-„ that interest w, shall be paid .... the ......»... ....».. a.._ .., ._....._..__, ..____ _ an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow,as defined under RESPA,Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA,but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow,as defined under RESPA,Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,but in nn mora than 12 monthly nay mentg_ Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,and Community Association Dues,Fees, and Assessments,if any. To the extent that these items are Escrow Items,Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 MERS Modified The Compliance Source,Inc. Page 5 of 14 Modified by Compliance Source 14301CO 08/00 Rev.04/08 www.comN`anccsourcc.co m ©200.0,The Compliance Source Inc. 6233689 201217682 5 OF 18 • Lender,but only so long as Borrower is performing such agreement;(b)contests the lien in good faith by,or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending,but only until such proceedings are concluded;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security instrument. If • Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument,Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given,Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property' insured lossby fire,hazards included within the term"extended coverage,"and any other hazards a ropelsy against ...z". .. including,but not limited to,earthquakes and floods,for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay,in connection with this Loan, either: (a)a one-time charge for flood zone determination, certification and tracking services; or (b)a one-ti"'a charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above,Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's the the of the Property, risk,hazard or liability might greater equity in Property,ly,or contents t avNa.l t',against any hazard... liability,ty and ..b...provide a--»•... or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These t� shall bear interest at the Note rate from the"late of disbursement and shall he payable, LIIJtI UIIIGIIt. These amounts eress payable, with such interest,upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies,shall include a standard mortgage clause,and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. if Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage,not otherwise required by Lender,for damage to,or destruction of,the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. -- In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing,any insurance proceeds,whether or not the underlying insurance was required by Lender,shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property' to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 30061/01 MF.KS Niodilled The Compliance Source,Inc. Page 6 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 vv.VV.compiia,. ..cow... .2000,The Compliance Source,inc. 6233689 201217682 6 OF 18 • made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters,or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. if the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums secured by this Security instrument,whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property,Lender may file,negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event,or if Lender acquires the Property under Section 22 or otherwise,Borrower hereby Lender(a)Borrower's rightstoinsurance proceeds in an amournot to exceedtheamountsunpaid assigns to Lender any , t a under the Note or this Security Instrument,and(b)any other of Borrower's rights(other than the right to any refund of unearned premiums paid by Borrower)under all insurance policies covering the Property,insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security instrument,whether or not then due. 6. Occupancy. Borrower shall occupy,establish,and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Maintenance Protection the Property; Inspections. Borrower shall not 7. Preservation, and Protection of .+�••�..�• �••»-- not destroy,damage or impair the Property,allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that not feasible,Borrower shall promptly repair the Property if damaged to avoid repair or restoration is economically cS1v..., S.,a.. a-- further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to,or the taking of,the Property,Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single or series ofpayments as the work is completed. the insurance or condemnation proceeds payment i n a seY' progress are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable rayse Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if,during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender(or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)Borrower fails to perform the covenants and agreements contained in this Security Instrument,(b)there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument(such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c)Borrower has abandoned the Property,then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform instrument Form 3006 1/01 NVie.KD Modified The Compliance Source,Inc. Page 7 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 www.compliancesource.com ©2000,The Compliance Source,Inc. 6233689 201217682 7 OF 18 • interest in the Property and rights under this Security instrument,including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a)paying any sums secured by a lien which has priority over this Security Instrument; (b)appearing in court; and (c)paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to,entering the Property to make repairs,change locks,replace or board up doors and windows,drain water from pipes,ell-»•»ate building or other code violations or dangerous conditions, and have utilities turned on or off Although Lender may take action under this Section 9,Lender does not have to do so and is not under any duty or obligation to do so. it is agreed that Lender incurs no liability for not taking any or ail actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold,Borrower shall comply with all the provisions of the lease. If Borrower Ncquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage insurance. if Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect,at a cost substantially equivalent to the cost to Borrower of the Mortgage insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available,Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept,use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reseryshall be non-refundable,notwithstanding the fact that the Loan is ultimately paid in full,and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage(in the amount and for the period that T ender requires)provided by an insurer celecteed by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage insurance. if Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage insurance in effect,or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time,and may enter into agreements with other parties that share or modify their risk,or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available(which may include funds obtained from Mortgage insurance premiums). As a result of these agreements,Lender,any purchaser of the Note,another insurer,any reinsurer,any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or Colorado need of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 MERS rviodiiied The Compliance Source,Inc. Page 8 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 www compiia ncesour ce.com 02000,The Compliance Source,Inc. 6233689 201217682 8 OF 18 might be characterized as) a portion of Borrower's payments for Mortgage insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such.agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer,the arrangement is often termed"captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage insurance will not entitle Borrower to y refund. Mortgage Insurance,and they n......,.....,..,........,........, ..,any (b) Any such agreements will not affect the rights Borrower has — if any — with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures,to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. if the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such Lender ll have the right hold such Miscellaneous Proceeds 'nail Lender has had repair and restoration period, shall to ' vu an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing __I l_ he paid such Miscellaneous Proceeds, shall not be to pay Gr Applicable Law requires interest to he on Lenderrequired pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,with the excess, if any, paid to Borrower. Such Miscellaneous n a shall be applied the der provided in Section 2. TI V6.GG4J in the order ll for a In the event of a total taking,destruction,or loss in value of the Property,the Miscellaneous Proceeds shall be applied to the sums secured by this Security instrument,whether or not then due,with the excess,if any,paid to Borrower. 10 the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss in value is equal to or greater than the amount of the sums secured by this Security instrument immediately before the partial taking,destruction,or loss in value, unless Bon•ower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount of the sums secured immediately before the partial taking,destruction, or loss in value divided by (b)the fair market value of the Property immediately before the partial taking,destruction,or loss in value. Any balance shall be paid to Borrower. in the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. if the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence)offers to make an award to settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument,whether or Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 NIERS Modified The Compliance Source,Inc. Page 9 0114 Modified by Compliance Source 14301C0 08/00 Rev.04/08 mpiianeesourcn ©2000,The Compliance Source,Inc. 6233689 201217682 9 OF 18 not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment,could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security instrument. Borrower can cure such a default and, if acceleration has occurred,reinstate as provided in Section 19,by causing the action or proceeding to be dismissed with a ruling that, in Lender's Jlldgient,precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured bythis SecurityInstrument granted Lender to Borrower or ' by any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons,entities or Successors in interest of Borrower or in amounts less than the amount then due,shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; ; Co-signers;J.U.GGGJAVIA and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However,any Borrower who co-signs this Security Instrument but does not execute the Note(a"co-signer"): (a)is co-signing this Security instrument only to mortgage,grant and convey the co-signer's interest in the Property under the terms,of this Security Instrument;(b)is obligated the Instrument; and (c) agrees that Lender and any not personally to pay sums secured by thisSecurity other Borrower can agree to extend,modify, forbear or make any accommodations with regard to the terms of this Security instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in `.,rt;nt„ and is approved by Lenrier shall nhtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind(except as provided in Section 20)and benefit the successors and assigns Af 1 ender .. .. .. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys'fees, property inspection and valuation fees. In regard to any other fees,the absence of express authority in this Security instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges,and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits,then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted anysums alreadycollected from Borrower which exceeded permitted limits will be refunded to limit; and (b) r Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 MFRS rvtodined The Compliance Source,Inc. Page 10 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 worw.co mplianccsou ce.com ©2000,The Compliance Source,inc. 6233689 201217682 10 OF 18 without any prepayment charge(whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security instrument must be in writing. Any notice to Borrower in connection with this Security instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable i.aw expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address,then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. if any notice required by this Security instrument is also required under Applicable Law,the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability;; Rules of Construction. This Instrument shall be d y, Security governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent,but such silence shall not be hibii_� track the this Security construed as a prohibition against agreement by contract.0.l.L. in the event that any provision or clauseof .� Instrument or the Note conflicts with Applicable Law,such conflict shall not affect other provisions of this Security instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a)words of the masculine gender shall mean and include ging neuterwords the eaa;n;ee nder; words in the singular shall mean and include the corresponding words or ofge.... , (b) --a»-»- plural and vice versa;and(c)the word"may"gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy y of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18,"Interest the Properr.,++... legal or beneficial interest in the Property,including,but not limited to,those beneficial in Property"means any legal r_•-J, -interests transferred in a bond for deed,contract for deed,installment sales contract or escrow agreement,the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a naturalperson and a beneficial inter8st in Borrower is solrl or transferred)without Lender's prior written consent, an• Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option,Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which r^ Borrower must pay ail sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a)five days before sale of the Property pursuant to any power of sale contained in this Security instrument;(b)such other period as Applicable Law might specify for the termination of Borrower's right to reinstate;or(c)entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a)pays Lender all sums which Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 30061/01 IVIF.,(S Modified The Compliance Source,Inc. Page 11 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 uww.compliancesource.com 02000,The Compliance Source,Inc. 6233689 201217682 11 OF 18 then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements;(c)pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument;and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument,and Borrower's obligation to pay the sums secured by this Security Instrument,shall continue unchanged. Lender may requirethat Borrower pay such reinstatement sums and expen&es in one or more LPillLLer reinstatement of the following forms,as selected by Lender: (a)cash;(b)money order;(c)certified check,bank check,treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d)Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However,this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note(together with this Security Instrument)can be sold one or more times without prior notice to Borrower. A sale in t in the eet;ty as the"Loan that collects Periodic Payments due under the might result a change ., , (known..� Servicer") Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security instrument,and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer,Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer,the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note,the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of,this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a after the of such to take corrective action. If A pplicable Law provides a time period, reasonable period giving notice ...,,...., yr.•-»..... r•�•-�--� r-----� which must elapse before certain action can be taken,that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. • Pp y r..,.lslon 21. Hazardous Substances. As used in this Section 21: (a)"Hazardous Substances"are those substances defined as toxic or hazardous substances,pollutants,or wastes by Environmental Law and the following substances: gasoline,kerosene,other flammable or toxic petroleum products,toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b)"Environmental Law"means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c)"Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law;and(d)an"Environmental Condition"means a condition that can cause,contribute to,or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances,or threaten to release any Hazardous Substances,on or in the Property..Borrower shall not do,nor allow anyone else to do, anything affecting the Property (a)that is in violation of any Environmental Law, (b)which creates an Environmental Condition, or(c)which, due to the presence, use, or release of a Hazardous Substance, Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 30061/01 MFRS Modified The Compliance Source,Inc. Page 12 of 14 Modified by Compliance Source 14301C0 08/00 Rev.04/08 ©2000,The Compliance Source,Inc_ WW W.I`OnIp11i1111"CJV UfLe.lVlll -'"'^---�-""– 6233687 201217682 12 OF 18 creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to,hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to,any spilling,leaking,discharge,release or threat of release of any Hazardous Substance, and(c)any condition caused by the presence,use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns,or is notified by any governmental or regulatory authority,or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary_ Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument(but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a)the default;(b)the action required to cure the default; (c) a date; not less than 30 days from the date the notice is given to Borrower,by which the default must be cured; and(d)that failure to cure the default on or before the date specified in the notice may acceleration secured Security Instrument sale of Spee171CU result in acceleration ALIV,1 of the sums secured by this Security Instrument and...-... ..- the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure procceedine the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice,Lender at its option may require —"late payment in full of all sums secured red by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall he entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including,but not limited to,reasonable attorneys'fees and costs of title evidence. If■f invokes power sale, Lender a written notice to Trustee of the occurrence of Lender IIIY VLLGJ the of ucuvc. shall give .......... .... .........- .-. -.-- ..---------- -- an event of default and of Lender's election to cause the Property to be sold. Lender shall mail a copy of the which notice to Borrower as provided in Section 15. Trustee shall record a copy of the notice in the county in:guise the Property is located. Trustee shall publish a notice of sale for the t'—^ and in the manner provided by Applicable Law and shall mail copies of the notice of sale in the manner prescribed by Applicable Law to Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee,without demand on Borrower,shall sell the Property at public auction to the highest bidder for cash at the`:--=and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Trustee shall deliver to the purchaser Trustee's certificate describing the Property and the time the purchaser will he entitled to Trustee's deed. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply theproceeds of the sale in the order: pp y following......... of the including, limited to,reasonable Trustee's attorneys'fees; all (a)to all expenses sale, but not f.., Ly.. rye............. .....,... .,and--.---...-�.. fees; (b)to allsums by this Security instrument;and(c)any excess to the person or persons legally entitled to it. Colorado Deed of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 MFRS Modified The Compliance Source,inc. Page 13 of 14 Modified by Compliance Source 14301CO 08/00 Rev.04/08 www.compliancesource.com (02000,The Compliance Source,Inc. 6233689 201217682 13 OF 18 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall request that Trustee release this Security Instrument and shall produce for Trustee, duly cancelled, all notes evidencing debts secured by this Security Instrument. Trustee shall release this Security Instrument without farther inquiry or liability. Borrower shall pay any recordation costs and the statutory Trustee's fees. 24. Waiver of Homestead. Borrower waives all right of homestead exemption in the Property. BY SIGNING BELOW,Borrower accepts and agrees tothe tPrms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. // (Seal) s"\:"`I 61N (Seal) Marc LeVarn -Borrower Maria A LeVarn -Borrower (Seal) (Seal) -Borrower -Borrower ACKNOWLEDGMENT State of § County of '"" § c �. m § • The foregoing instrument was acknowledged before me this r `- by Marc LeVarn and Maria A LeVarn. SHE!'AI-!E ranFin0N Signature of Person Taking Acknowledgm nt Notary Public ein4,.,.4�'wI 1 .. ` ._...,i My Commission Expires:February 13,2015 Printed Name Chit/9994003 i 13 Title or Rank (Seal) Serial Number,if any: Colorado need of Trust—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3006 1/01 NIERS Modified The Compliance Source,Inc. Page 14 of 14 Modified by Compliance Source i4301C0 08/00 Rev.04/08 2000,The Compliance Source,Inc. mplian.��.,urce.com c-- , 6233689 201217682 14 OF 18 Al''I_ACH I)LEGAL DESCRIPTION Unit 4,Capstone Townhouses,According to the Plat recorded November 28, 1978 in Book 278 at Page 970, County of Eagle, State of Colorado. Alsr,Known as: 1 817 Meadow Ridge Road#4,Vail rn R1657 595-110344794-060-MH 1 201217682 15 OF 18 Loan Number:62336329 MI N: 100995500062336890 !\T�l� TT\I�TT TTT Tl T1 I�I .AIVI'VEI'Il 111'�'II1 II11.VH.I,iI IVI ,IV 1 KIL/I�,K 1 Ll11 \1\LL V1\11 LL ♦ +.aim+ � THIS PLANNED UNIT DEVELOPMENT RIDER is made this 29th day of August,2012,and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument")of the same date,given by the undersigned(the"Borrower")to secure Borrower's Note to Mortgage Real Estate Services, inc. (the "Lender") of the same date and covering the Property described in the Security instrument and located at: 1 O1^7\d.....1....,Ridge Rd 11 Vail ni 6.c'7 101, ..,calla.. 1c.Us..111,i-., ♦u..,COvv vav✓, [Property Address] The Property includes,but is not limited to, a parcel of land improved with a dwelling,together with other such parcels and facilities, described in Declaration of Covenants, Conditions, and certain common areas anda..t=.., as Restrictions(the"Declaration"). The Property is a part of a planned unit development known as: Capstone Townhome [Name of Planned Unit Development] (the"PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD(the`Owners Association")and the uses,benefits and proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent Documents. The"Constituent Documents"are the(i)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 pay,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 satisfactory to Lender and which provides insurance coverage in the amounts(including deductible levels),for the periods,and against loss by fire, Multistate PUD Rider—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 31501/01 Page 1 u f 3 4501 MU 08/00 Re 11/04 The Compliance Source,Inc. www.compliancesouree.com ©2000-2004,l'he Compliance Source,inc. 6233689 201217682 16 OF 18 hazards included within the term "extended coverage," and any other hazards, including, but not limiters to, earthquakes and floods,for which Lender requires insurance,then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation 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 policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required propet,insurance coverage provided by the master or blanket policy. In 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 a l n be toLender. Lender shall apply the nrneePAc to the sums secured by the Security assigned and shall be paid u ...^.^. er »ppl t'• -+ Instrument,whether or not then due,with the excess,if any,paid to Borrower. C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form,amount,and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for damages,direct or consequential,payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be to Lender. Such nr" '1 chap he applied by Lender to the sums secured by the Security Instrument as paidr. pplim provided in Section I I. E. Lender's Prior Consent. Borrower shall 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 PUD,except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain;(ii) any amendment to any provision of the "Constituent Documents" if the provision is for the express benefit of Lender; (iii) te^„'^ation of professional management and assumption of self-management of the Owners Association;or(iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment,these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable,with interest,upon notice from Lender to Borrower requesting payment. Multistate PUD Rider—Single Family •Fannie Mae/Freddie Mac Uniform Instrument Form 3150 1/01 The Compliance Source,Inc. Page 2 of 3 14501MU 08/00 Rev.11/04 www.compliancesource.com ©2000-2004,The Compliance Source,Inc. 6233689 201217682 17 OF 18 • BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD Rider. -F7 / ( ) (Seal) + r.� ` Seal Marc LeVarn -Borrower Maria fi LeVarn -Borrower (Seal) (Seal) -Borrower -Borrower [Sign Original Only] Multistate PUD Rider—Single Family—Fannie Mae/Freddie Mac Uniform Instrument Form 3150 1/01 The Compliance Source,Inc. Page 3 of 3 14.5011:1U 08/00 Rev.11/04 www.compliancesource.com ©2000-2004,The Compliance Source,Inc. 6233689 201217682 18 OF 18 III 1 II I Moll 1111 III II II 1111 774792 2 e: 1 of Filed for record the clay of A.D. 11/19/2001 09:150 Reception No. Sara J Fisher Eagle, CO 432 R 10.00 D 37.80 WARRANTY DEED THIS DEED, Made on this day of November 15,2001 between JENNIFER S.HENISE 2/P of the County of EAGLE and State of Colorado , of the Grantor(s), and MARIA A.LE VARN AND MARC LE VARN whose legal address is : PO BOX 214,VAIL,CO 81658 • 3� gD • of the County of EAGLE and State of Colorado , of the Grantee(s): WITNESS, That the Grantor(s), for and in consideration of the sum of ( $378,000.00 ) ***Three Hundred Seventy Eight 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(s), their heirs and assigns forever, • not in tenancy in common but in joint tenancy, all the real property, together with improvements, if any, situate, lying and being in the County of EAGLE and State of Colorado, described as follows: UNIT 4.CAPSTONE TOWNHOUSES,ACCORDING TO THE PLAT RECORDED NOVEMBER 28, 1978 IN BOOK 278 AT PAGE 970.COUNTY OF EAGLE,STATE OF COLORADO. • also known as street number 1817 MEADOW RIDGE ROAD#4,VAIL,CO 81657 • TOGETHER with all and singular and hereditaments 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(s), either in law or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances; TO HAVE AND TO HOLD the said premises above bargained and described with appurtenances, unto the Grantee(s), their heirs and assigns forever. The Grantor(s), for himself, his heirs and personal representatives, does covenant, grant, bargain, and agree to and with the Grantee(s), their heirs and assigns, that at the time of the ensealing and delivery of these presents, he is well seized of the 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 form 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 soever, EXCEPT GENERAL TAXES AND ASSESSMENTS FOR THE YEAR 2001 AND SUBSEQUENT YEARS AND SUBJECT TO THOSE ITEMS AS SET FORTH ON EXHIBIT"A"ATTACHED HERETO AND INCORPORATED HEREIN. The Grantor(s) shall and will WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable possession of the Grantee(s), his heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof. The singular number shall include the plural, and the plural the singular, and the use of any gender shalt be applicable to all genders. IN WITNESS WHEREOF the Grantor(s) has executed this deed on the date set forth above. • JENNI , S.l ISE `-' • STATE OF 9 IOrael0 ) Gal 'e. )ss. County of L,L(LJ� ) The foregoing instrument was acknowledged before me on this day of November 15.2001 by JENNIFER S.HENISE My commr�issio .sipj, ,.,/ ,..o Witness my nd and offfii�j�}�s G+s «mss • '�'j NOTAP�1 'I.IC 4 Notary Pub iL c' • Name and AddressS QT OF nC i .ggt,Spg F,ea Dg..New['y�Created twist Description ( 38-35-106.5, C.R.S.) Escrow# VA273728 When Recorded Return to: MARIA A. LE WARN AND MARC LE OARS Title# V273728 PO LOX 214 iMP Form No 921q Rev 4-94. WARRANTY DEED (Joint Tenants WDJT OPEN) VAIL, 81658 _- II III 1111111 II I II II 1111,11111 II774792 /9 2 of 21 09:15f Sara J Fisher Eagle, CO 432 R 10.00 D 37.80 EXHIBIT Our Order No. V273728-2 RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED OCTOBER 04, 1918,IN BOOK 93 AT PAGE 301. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED OCTOBER 04, 1918, IN BOOK 93 AT PAGE 301. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANT OR RESTRICTION BASED ON RACE, COLOR, RELIGION,SEX,HANDICAP,FAMILIAL STATUS OR NATIONAL ORIGIN UNLESS AND ONLY TO THE EXTENT THAT SAID COVENANT(a)15 EXEMPT UNDER CHAPTER 42, SECTION 3607 OF THE UNITED STATES CODE OR(b)RELATES TO HANDICAP BUT DOES NOT DISCRIMINATE AGAINST HANDICAP PERSONS,AS CONTAINED IN INSTRUMENT RECORDED October 08, 1963,IN BOOK 178 AT PAGE 75 AND AS AMENDED IN INSTRUMENT RECORDED APRIL 1, 1966, IN BOOK 192 AT PAGE 343 AND AS AMENDED IN INSTRUMENT RECORDED MAY 25, 1966, IN BOOK 197 AT PAGE 1. EASEMENTS,CONDITIONS,COVENANTS, RESTRICTIONS,RESERVATIONS AND NOTES ON THE RECORDED PLAT OF CAPSTONE TOWNHOUSES. ACCESS EASEMENT AND PARKING AS SHOWN ON THE RECORDED PLAT OF CAPSTONE TOWNHOUSES. TERMS, CONDITIONS,PROVISIONS AND EASEMENTS AS CONTAINED IN TOWNHOUSE DECLARATION AND PARTY WALL AGREEMENT,RECORDED NOVEMBER 28, 1978 IN BOOK 278 AT PAGE 969. THE EFFECT, IF ANY,OF NON-CLOSURE OF LOT 21,A RESUBDIVISION OF BUFFER CREEK. EAGLE COUNTY, CO 201212239 TEAK J Pas: 2 041:20:54PM 06/13/2012 REG: 9 916.00 Enc s $61.25 II i H State Doc Fee: $61.25 II II WARRANTY DEED Recording Fee: $11.00 I1 THIS DEED is dated the 11 $ day of Juno 2012 and made between I I , • I I W.Ha Trustee The Warren Trust 2/23/06 I Ralph Hajosy,Trustee of The Ralph Warren Hajosy Trust dated ucJluv I II 1111 (whether one,or more than one),the"Grantor"of the County of ultvf and State of Georgia and II Deborah P.Zvibleman and Barry N.Zvibleman III ii I (whether one, or more than one),the"Grantee",whose legal address is 630 W. Street, Naples, FL 34108 of the County 11 1 of coil ler and State of Florida. II I WITNESS;that the Grantor, for and in consideration of the sum of Six Hundred Twelye Thousand Five Hundred I Dollars and No Cents ( $612,500.00 ), the receipt and sufficiency of which is hereby acknowledged, hereby grants, III bargains, sells, conveys and confirms unto the Grantee and the Grantee's heirs and assigns forever, all the real property, 11 Itogether with any improvements thereon,located in the County of Eagle and State of Colorado described as follows: 11111 I Unit 5, 1 CAPSTONE TOWNHOUSES, I I According to the Plat recorded November 28, 1978 in Book 272 at Page 970 as Reception No.175380. III ii COUNTY OF EAGLE, STATE OF COLORADO also known by street address as: 1817 Meadow Ridge Road,Vail,CO 81657 TOS withall and lar the hd:. ._ ..�.... Jingu�e� aa;unaillaalw and appwicllmhces thereto belonging, or in anywise appertaining, I I the reversions, remainders, rents, issues and profits thereof, and all the estate, right, title, interest, claim and demand II I I whatsoever of the Grantor, either in law or equity, of, in and to the above bargained premises,with the hereditaments and 1111 11 appurtenances; II11 TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the Grantees and the Grantees'he and assigns forever. the The Grantor,for the Grantor and Grantor'sra does covenant, grant, bargain, and.. the heirssigns ,.vena agree, - - __ endand__...,.,.., doesto and with the Grantee,and the Grantee's heirs and assigns:that at the time of the ensealing and delivery of these presents,the Grantor is well seized premises above described. has - ate . II '� ••�'.seized� ofthe premises described; good, sure, perfect, absolute and indefeasible estate of inheritance, in law, and infeesimple; andhas good right, and lawful authority I I g-p,. ,lg,,., full power to grant, bargain, sell and convey the same in I i manner and form as aforesaid;and that the same are free and clear from all former and other grants,bargains,sales,liens, I I I I taxes,assessments,encumbbranues arid restrictions of whatever kind or nature soever,except and subject to: 11 I General taxes for theyear 2v 1 2 and subsequent years,'and those specific exceptions described by reference to 11 I G y I recorded documents as reflected in the Title Documents accepted by Grantee(s)in accordance with Section 8.1 II 1 I (Title Review) of the Contract to Buy and Sell Real Estate relating to the above described real property; II distribution utility easements(including, T); specifically ly _._...__.._.. utility.................. (including, /vp those Jpehlllhally described rights of third parties not shown by the public records of which Grantee(s)cablehas actual knowledge and which were ocvepted by Grantee(s) in accordance with Section 8.2(Matters Not Shown by the Public Records)and Section 8.3(Survey Review)of the Contract to Buy and Sail Real above described property; inclusion Property Buy ----- --- Real Estate relating to the ....,,,,, ,,,,,,,,,,,,,,,,, real prap.„ay, of the rrvl.,cf[y within any special taxing district; the benefits and burdens and of ani, recorded rleclarati.,., an,d „a.t., ..,all 1 •- - -- II • benefits . .._ ...... ... ....� .......,.,.,.. .....,,..,.....,,, a..... Yway 0000 agreements,if any. ii Arid the Grantor shall and will WARRANT THE TITLE AND DEFEND the above described premises,but not any adjoining 11 1 vacated street or alley, if any, in the quiet and peaceable possession of the Grantees, and the heirs and assigns of the 11 Grantees,against all and every person or persons lawfully claiming the whole or any part thereof. I IN WITNESS WHEREOF.the Grantor has executed this deed on the date set forth above. I I 1 11 THE RALPH WARREN HAJOSY TRUST I DATED 2123106II H II P. Q r. f i . h . �s� . ,, .t.) II 114 II Ralph W.Hajosy1 `\ U J I I IITmcten — II II -- II II II I I I I II II II II II 1 „--44—,-- -- II ' f ,3 II IIH __ { H I I II Stewart Title File Number 01330-5904 Page i 932A WARRANTY DEED STCO 201212239 1 OF 2 State of Colorado County of Eagle The foregoing instrument was acknowledged before me this day of 2012 by Ralph W. Hajasy, Trustee of the Ralph Warren Hajosy Trust dated 7/73/06. witness my hand and official seal. rY My n.ry. ryCCiiuuioawn'cnpircs: ij/JU/!J P .JULIO j.fCP% %Al 1 { IYVII%flT rIJOLIV j evI?%I C'JI'UVL.anmu.J j Stewart Title F -5904 Page 2 972A WARRANTY DEED STCO 201212239 2 OF 2 EAGLE COUNTY, CO 201212240 TEAK J SIMONTON Pas: 21 04:20:54PM 06/13/2012 EErC: $ $111 .00 DOC: $ After rernrdino plimeo return tn_ .�_-. _---__w ________�_saga r yc1 Mortgage Company, 144. i'inal. Documents Lol,a,a uncut INan1e] r A tte..ti n..1 t""•-"ua.••1 1801 East 9th Street,Mail Code 01199-0401 [Street Ail:tress] elevei...d Ohio 44114_4;16 ICIty,State Ldp Code] TS... Above This Line For e•.•.,d:»+, ate] Loam Plumber:ttUtildll4 MIN:iwsrcnuuuouoAJwu i t N'.N i (iF T TRY NT . JaJa/ v a a a.v w a DEFT-oil-DONS Words used in multiple sections of this document are denned below and other words are defied in Sections 3, 11, ,- .2, -_l__regarding the sage ofw__d.. ...ed i dris document. alta provided ie Section 13,18,..V and Ll. Certain rules iGZ',al(ilu�tits usage of words used in taus.document w.,..1..................-...----16. (A) "Security instrument"means this document,which is dated Jun a,LVJL,together with all Riders to this document. _$) "Borrower'is Barry N Ly1DlemaII and Deborah P GV1DPCina7,Joint Tenants. Borrower is the trustor unda.this Security u_strumGt . (C.) "Lender'is Mortgage Real Estate JevleeS,Inc.. Lender cnuCr 1S a wiuratton organized and existing under 1_ws of The ofColeredn i a..der's addreae 11178 F.Arnharst Cir Aurora_co 80014_ the 16\YJ State vvava raaV. +-+.a.4� •a.+.+.+•...+v is��-...-.�---•---------,------,-- ------ (u) ::Trusstee"is the Public Trustee of Eagle County,Colorado. (E) "MERE"is Mortgage Electronic Keg siration Systems,Lie. ivIERS is a separate corporation Unit is acting _for Lender and Lender's.. nd a AAEP.S i+the henefis.iary under this Security Solely as a nominee au:.v^�""+la a.,. ea�.b..s. -.....,... ..-.-----•.-.� ..�- .- ..--_. , tnatrrlrr,ent iewpe is organized and existing under the laws of Delaware, and has an address and televhone number of Y.O.Box 2026,Flint,MI 48501-2026,tel.(baa)679-ivlrlca. (1) "Note"means the promissory note signed by Borrower and dated June w 2012. The Note states that ___ sags -_- ------ -- _Dollars n1 a oenw nun nm_1.._ Borrower owes Lender Three Hundred Four Thousand and 00/1.00ths Dollars`U.S.8304,000.09)plus interest. Bon-ower _r.m:.ed to this regular Periodic Paymeets and to nay the debt in full not later than Jnly 1_ nulluwcl has Ya uaauoau pay�titin debt in .............��.+..•.....�.._...r_�...-�-.._ ._-•___� �-—� 2042 !"..i..,a.in Deed of TniliSmog F.ndta_Fe hie M.nFreddic Mac Uniform Instrument Font 30061/01 KERS Modeled The Compliance Source,Inc.iPage 1 of 14 Modified by Complirnce Source i.301C0 WOO Rev.Wel www.compainc-.-soarce.com C7.G00,The Compliance Soiree,Inc. -- www.compaine-.-sonrce.com ,• 1...,., �4f1 D-P-1 I S ..- O 1-3' i ) LI A hI !I v 201212240 1 OF 21 described the Lodi« "Transfer•Ler Rightsthe (Ci) "Property" means the property that is below under ucauuag axexwxca of in the t avrvx ay. _ by the Note, plus char. charge.-due [�) "Loan"means the debt e:vidctibcci t`t ULG, interest,any prepay-rue-at ,•^•�w and late..ata.6w due under the Note a«d all rams under this Security Tnstrun ent plus intertest. Note,wad au�ttatu due w...........r...........� .._...-.-......,..,r._-_. _. this S_ r ty r- _._emt a� seated Borrower. The following tA) 'Riders" means all icidc�s to acl:wuy utauuutcttL that am ex.-cut-4 by ,,.,.,�..... ax,.. ,..x... Riders ore to be executed by Borrower rcheclr hoz ac applirahlrl• 0 •AT---L-1-1- n_a� r1 r 7 ««:..« Rider �1 C...end Wring.Rider U t1a�ai\ SL4Ulc 4LG 1\.4GL L_J WxLWt "u rua4aay.uva `• ••........r��•^» Fl Rallnnn Rider IXi Planned Unit Development RiderI I Biweekly Pavme it Rider 12SI 1-4 Family Rider L] Revocable Trust Rider _lli__ _li__ble federal, nd l_ al regulations, rdin {JJ "Applicable Law"means all tz7nuutung aypticautc stain and tv..oL statutes-, ordinance.- aand,.d ad..-.nistrative...1.. oast orders erupt hove the of ect of lame ac well as all a plicahle final_ non-appealable lga uwx.l.xt�u au.v ceded ,wv,v...».. �+..........- --- ---.---. -- --..� _ .._- .-_ _rr , judicial opinions- non-appealable Rn "Cc!mm�nity Aacnclafion date Feta_ and AcceSsments"imesns all duet; fees, aase3amants and other charges that are imposed on Borrower or the Property by a condominium association,homeowners association or similar organization. L -- - Transfer'- . . st by«k.lECt70I11C Funds lransIt'r"means any transfer of lungs,other than a ueuts+tcuvu vtllrtuaLat vy wtcGa, draft,orsimilar paper instrument,which is initiated through an electronic terminal telephonic instrument,computer, wa .•••vt.ry.•""••••�••••••••••••••-------,telephonic�----+---r-"'• nr magnetic.tae sn as to order_instruct or authorize a financial institution to debit or credit an account. Such lain rp_ -__ �_� _�teller machine ti.,....1 {.... includes,but is not limited to,point-of-sale transfers,aauto=�e� teller machine transactions, dangers initiated by telephone,wire transfers,a-nd«wtn na.e.rn.ear.n.ahnne..rarafe_c . _ (1t7) " 9CIOw items"means those items that are described in Section 3. (N) "Miscellaneous Proceeds"means any compensation, settlement,award of damages,or proceeds paid by __�_paid'mica- coverages- «.Section for: (i)damage any third party(other than ifistuau�:c 14VVGW,D LtLtuca the wvciaew described ux 5) ua•t,a8v to, destruction of,the Property;rii)condemnation or other taking of ail or any part of the Property;(iii)conveyance in lieu of condemnation;or(iv)misrepresentations of,or omissions as to,the value andior condition of the Property. rni "Mortgage insurance"means insurance protecting Lender against the•nonpayment of,or default on,the Loan. (P) "Periodic Payment" means the reaularly scheduled amount due for(i)principal and interest under the Note,plus(ii)any amounts under Section 3 of this Security instrument. fol "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. 9260i et seq.) and its r,_--1_t__- (24 C.F.R. art might be ended time to ti..me implementing regulation,1<t:�Luau[]II X a..rt� Part 3500),as they awcuuc+t from tuuv time,or n.ni additional ornr le.g;clatirm or regulation that governs the same ctlhiert matter AC 'meet In t11ik .S'eCl]fl• , w.u.uv..«. w....wvwa vtp...«..... ... rp- ..-.. -.- p-_-� �- -_-_J Colorado Deed of Trite-,Stn¢le Family_—Fannie Mae/FreddIe Mac uniform Instrument Form 3066 int t MCpps Mro1HLd ---••-- ..-2..f l A Medleed 1...r.....b.clLrre Somer 1 d sot!`I 110A11113...Ad/flitlac wfupiiiacc tsiiiui�,'u_ i:i� ...t, ,..v......,..v�w...r..e.• .. .. www.cOmplaacerou1tGCOm a uuw,Tu a siawact,lac 6082324 (z! uv \ 1 i N Il v 201212240 2 OF 21 and— thaw and to a • instrument."RESPA"reICTS to all requirements amu restrictions Luca are imposed in'eg,...t....."federally related loan" if the Loan m,alL as a``federally related mortgage loan"under R1r5PA. mortgage evena...Y does not•t`•`••••J w.. .rr_..�.J._..._ __apo___-_- _r" that taken title to the Property, whether nr not Ilt) "Successor in interest of Borrower"means any party has ... .........Xr..J. •••r--r- ----- party assumed Borrower's obligations under the Note and/or this Security instrument. that party has ...,..o__.•.....---- Note PROPERTY 1,.LCAIVL�}NL+1,(IJl�R1C7A„[ail.�THErAvrraaaz (solely _ for Lead= Tender's The beneficiary of this Security Instrument is NIERS as a nominee a.Lao,+,L and ...��e�-- -_l.r_�the and a of mERS This Security Inch-in-nerd secures to Lender: (i) sucusSOra and assigns)and succws0 s • .a••s This___--., -- r the repayment 1:4101n_ all renewals-extensions and modifications of the Note;and(ii)the performance o1 �•••,...1...�........of the and— this n__peep-�_r--.._.—.,a and the.Note. T..»this purpose,Borrower,in Borrower's covenants and agreements under Se:•uu:y Instrument the For th s Bor o e in consideration of the the trust herein created irrevocably grants and conveys to Trustee,in trust,with power t:VllsllJrl aLlVl debt andtrust aero r.."awar'...r.._.eras a conveys�_ power sale the following described property located in the area.--,-------following----- - _r L'etrin County Va Eager [Type of Jurisdiction; [Nar_le of Recording Jurisdiction] [Type yYa Recording Jurisdiction; • - - See Attached Exhibit A of tS n Ridge Rd #C which currently has the address ao:L/Meadow auLa�. n., [Street] �yf(, Colorado 81657 Addres")•( Py ..,ya•.as �. ---- ---- all --hereafter-- all ese dente TOGETlil✓lt WlDri the improvements now or erected on the property, and ..., and fixtures or hereafterea part of property. All replacements and additions shall also be appurtenances, 1lJLlLL1yA now ..tae.. the .— -r-------.- —_additions Security instrument All of the foregoin_e is referred to in this Security instrument as the i _ire— and mit rm TIES Jt5C;V1Ci1T INSTRUMENT combines uniform nova-rants for national use ata.,withu-.,...•�•�- limited variations by jurisdiction to constitute uniform senlrity instrumet covering real property. covenants ..,j.:...........v.....-...w_._.-a.--�-. +__-----'-- » . UNIFORM COVENANTS. Borrower audr—aua wrcaita.uuagree as follows: .o• 1. Payment of Drineipal interest Escrow Items_ Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of,and interest on,the debt evidenced by the Note:ad any prepay est . and , __due un � the Note. Borrower pay f Items pursuant to enlarger late charges tinder i�dfc. shall also funds,.,.Escrow......n r....,.-.--....Section 3. Payments due under the Note and Security Tnstnlrne nt shall he made in U.S.currency. However.if any check or P ayments .-u»this•.�_.•-,_••-------- other instrument received by Lender as payment under the Note or this Security instrument is returned to Lender _- _that any or all subsequent payments the Note this Instilment be unpaid,Lender may require y j�auau.0 due under».....--..and Security _—______ made in one more of the following forms_as selected by Lender: (a)cash:(b)money order;(c)certified check, bank check, treasurer's check or cashier's check,provided any such check is uhawn inflwa an institution whose a federal_ nstr....entality,or entity; (dl Electronic Funds Transfer. deposits are insured by acunaa agency,iaaauuat+,.a+ta.+.„,.. or�•-,-----__—'- -------- Payments are dei mere received by Lender when received at the location designated in the Note or at such payments - theSection lS Lender may other location as may be designated by Lender in accordance with notice provisions in m_, partial payment if n ept or partial payments are insufficient to bring the Loan current. rciufu any yaymcnt or y�......,...the t.."y........., r__—r-+------— _c Lender may accept any payment or partial payment insufficient to bring the Loan current,without waiver of any — _r — payment � refuse such_ _....t:..l payments in Entre,but Lender is not rights hereunder or prejudice to its rights to such payment or Fatal pa'ymen s thede-is not obligated to apply payments at time such payments are accepted. each Periodic Payment is applied as of such the.....�.._-•. are-_-' -'-' If each--- ------ t__1J such unapplied _.1 its scheduled due date, then Lender need not pay interest on unapplied funds. Leader-may hold unappled f _____ to bring the Loan current If Burrower does not do so within reasonable unds until Borrower mikes payment my a.oa±h ......,....... does ..._—a.-.._--_-- iod of time Lender shall either apply such fcmda or return them to Borrower. If not applied earlier,such funds Yo .,. .q . .•_..,..y—-rev --- applied _ foreclosure. offset will he applied to the outstanding principal balance under the Note immediately prim to icuvcayauac.. No or - _>_.have- in the fut. .,st T ends shell relieve Borrower from making payments claim which Borrower might have now or future aaaiaaot.t..,...e -._-..-_ r-+----- d..e =de-. the Note and this Security instrument or performing the covenants and agreements secured by this Security Instrument Application ofD...-,..._M or Proceeds Fxeent as otherwise descried in this Section 2_all payments 2. Payments . i. - - acceated and applied by Tender shall be applied in the following order of priority: (a)interest due under the Note; � shell he applied to each Periodic (b)principal due under the Note;(c)amounts due under Section 3. Such payments anal..,.,applied ........Periodic the order in which became du Any rreneining amounts shall be applied first to late charges,second Payment in mG it w ..... a_.., .- O.----•'----applied first any other amounts due under this Security instrument,and then to reduce the principal balance of the Note. to—�� -- ----- a for �_l:_ ....t Periodic Pe e..t which i_cludes a sufficient If Lender receives a payment from DUii V wci tui a uc+u..j.ic+at s w.y.....a ay.u..e......t .....»-•.....--------_ late e due,the payment may applied delinqueant payment and the late charge if amount to'yay any charge .....i,..,......-...._, be-rr---to the----+----payment-- - than one Periodic Payment is outstanding. Lender may apply any payment received from Borrower-to the more Periodic Payment- -e and the that, c7•pa ent can be pe id in fall To extent that repayment of the Periodic Payments 1I, to div extent wvu i,tyant�aat.»...t..Y».»......... _.,the--.--._--- exists at)er the payment is applied the fell payment of one or more Periodic Payments.such excess any excess ». ....,r_,...-... sr---to-- payment - �. charges and may be applied to any late charges due. Voluntary prepayments shall be applied first w any prepayment auu then as described iu the Note. Any application of payments insurance proceeds_or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payment& Funds for Escrow leans Borrower shall pay to T ender on the day Periodic Payments aro due under 3. 1111113 lVh section aawffe. u + e.+....)..., .-..,...o ....w--_+ ---•----— — the Note until the Note is paid in fill'_a sum(the"Funds."to provide for payment of amounts due for: (a)taxes and ,-..........,-..... _.___—paid-_-_-. � this o__ .7_ a l:e.. .r t.rep on she assessments and other items which can attain priority oveeu Securiity Instrument as lien or=cumbrance he leasehold payments and rents on Property, any; (c.)preininms for any and all insurance Property;(b)1WJWhytta ywytu , or ground..,.......-..the if _�r w w ..... . required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by colorant)1)etd of Tnist-Sickle Family-Fannie Mae/Freddie Mac Uniform Instrument Form 1066 livi __-__v-sen_& Hodtead by Ctw_ti__et Soeree 14301 rn OSmn l:ev.name The Compliance Source,Inc. rage 4 of 14 ,.,,ra,.,»...,•�••-•-r--- - -- --- -- www.compuance$Ourct.com CU-00,7U Coupialice 6082324 Z (1n ern t•_J ! 1 ii 201212240 4 OF 21 .. Mortgage r-------- premiums with provisions of Borrower to Lender in lieu of the payment of insluantx in accordance the �- items "Escrow Items." At or nation or at any time tubing the term of the Loan. Section 10. These are called .. . .. w.agi..�......... �.-..+ .-..- � _ --- -- -- - - render may require that Crnnmlmity AcsAciation Dues,Fees,and Assessments,iI any,be escrowed by Borrower, and such dues.fees and assessments shall be an Escrow Item. nu_vwar_hall,_rvm_uy famish to Lender all. .tinge __i under Secti,... Borrowershall tender the Funds for Escrow Items unless Lender of amouus to be paid nude:-this.e.....,yt.. pay..._-.�. �-_----- ------ -- waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or ani Escrow names at any lanae. Any such waive may only bebe inriaiflg. In the of waiver,Borrower clean p y directly,when anti whore payshlti the atmlmts due for any Escrow u1G event such Borrower... .--..--a rode+ n .."-' .---_r_!—__� _t T_J� Items for which payment of Funds has been waived by Lender and, if Lender requires, shall famish to Lsardl7 _�- payment - _L_ ._h ti o.r r ender mayBorrower's obligation make receipts evidencing such payment within aucu fame jrcTiv,a as a.vuvua require. .,.,.. .._ .. to make payments and to provide receipts shall for all purposes deemed be a covenant and agreement contained in ltaylrt and to -r____be_____-_to r_n� obligated t this Security Instrument,as the phrase"covenant and agreement"is used in Section 9. A.Borrower is to �:__ t_. and Borrow=fails to pay the amount an Escrow Item, pay Escrow Items uuwuy,pursuant to a'viaiv."'u,... .....,........ ....... .,, �--due for------- -Tender may its rights under Section 9 and pay such amount and Borrower shall then be obligated under �.,.....,. may exercise __� _1_ the ..... ell ti nor v rodeos of ar Section 9 to repay to Lender any such amount. Lender inaiy revoke the waives as w any or o.. at any _ _ - accordance Section 1 5 and upon such revo ation,Borrower shall pay to Lender all toric by a uvuw ly vcta inwith............... ....... -r-_ ---------•----- - Funde and in such amounts_that are then required under this Section 3. ..........,�.-...-_—._- ----- - _ (a)sufficient to permit Lender to deeply the Lender may,at any time,collect and hold Funds in an amount suulcient L..neer to appy .he F_�_at the a:__ ._....:1;_,7 ....,ler REM,and(b)not to exceed the maximum amount a lender can require under unds aide alrcr.urw.+... a..r.,a t+,and not to e._�_�----- iT --- _r ESPd Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow items or otherwise hi eowrdance with Applicable Law. ThThe Funds ininstitution whose deposits are insured a federal agency instrumentality.or e shall be held ,atr..a......................-..-r-_..--------by .. .. -- entity(including Lender, if Lender is an institution whose deposits are so insured)or in any Federal Home Loan Len a the E_�__.It� no the time RESPO l render Bank.�itsnder shall apply the Funds to pay ulG rawvw dada"o later than u... specified under-------- ---- s all not charge Borrower for holding and applying the Ponds,annually analyzing the escrow account,or verifying dagga not charge Borrower -rr"+--o - --_-__. Applicable _Lender make the Escrow Items,unless Lender pays Borrower interest on the Funds and tsppiicaoic Law puxitriw to 1JJa8f. _d_in =Applicable Law interest to paid on the Flmds, such a charge. Unless an agreement is auaAlc wiiaaiaa va tyyt,..,t..t.+t.,,...,�.'«.-..interest be _- , Lender shall not he rela,;,•e to nay Borrower any interest or earnings on the Fundy. Borrower and Lander can agree 1+V1aYW strata not........i....�.-r-+ Borrower..- ----- --- - - agree in writing,however,that interest shall be paid on the Funds. Lender s�iiil give to Borrower,without charge,an annual of the accounting tea r unw as required by t...vr+- If there is a surplus of Funris held in brow_as defined under RESPA,Lender shall account to BOTTOwer for ....,........-,....r.—-----' of Funds held defined ....her the excess funds in accordance with RCESPA. If there is a shortage held in va.nu.:,as under _d__ _ all Borrower as irea by BRCPa Borrower shall to render the amount ACLJYt1t l..C+irUGl met notify redia ..� .•y and•.••.••.•..-- -...- pay -- --_ re to mak..'„n shortage in accordance with RESPA_but in no more than 12 monthly pay_mints. if there is + .,,...none Y the-__ _-_______.__-. v REsp Lerida da sho notify B,._r,owa as requited by vFQPA a deficiency of Funds held in escrow,as defined under a�carta,a.caad dada uvlaay Borroww r.�y'.l.t....b ....«--.-, and B__roweer to Tender the amount to make un the deficiency in ac.wrdance with RESI'A,but in Bval u ww shall pay........+........,..�.-..-...necessary - no more than 12 monthly payments. ----- - fon of all _ WSecurity i at.anent Lender shall re nd to Upon payment in full seri G secured by this Security aew.t aetaw.y .....-promptly-^--'- a any Funds held by T ender Borrower ...+ ..'c_ 4. Charges: Liens. Borrower shall pay all taxes, asscssiuciiis, charges, fines, and impositions P_p-.y which can attain priority over this sernT.ity Instrument,leasehold payments or around attributable to the rruirct ly atiaaaa priority..,.. .t.,.. ....� payments --_ rents en the Property, if any,and Community Association Dues.Fees,and Assessments,if any. To the extent that these items are Escrow items,Borrower shall pay them in the mama provided in Section 3. Borrower _hall ptly discharge any lien which priority over this Security instrument unless shall litvuy..ar .... .....-.. has ---- -- -------+ Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to color:de Deed of 1F,.!t -Siealk Fsmtly-Fannie Mae/Freddie Mat Uniform Instilment Form-WO uut irides nauuiueu The Compliance Source.Inc. Page 3 or 14 M'w'u12d by wispllanca Source 14.3e1CO eIS.t)O urr sung www.complimussonrce.com tviwu'u,i iae Compiiencc Swrey Inc. 6082324 • ren.. 1 Alai "11n 1I 201212240 5 OF 21 faith L-. defends Leaden but only se long as Borrower is performing such agreement;(o)contests the lien in good faith by,or de ends �•_g_which T._.a._'s op operate prevent the enforcement against enforcement of the lien in,legal proceedings in a.eua... J yyl:ir^^.. to prevent while ----------- proceedings ere pending but only such proceedings are concluded;or CO secures from OI the lien those yavt.....y.tt.e.......r^'--•----a, until such - - - ,�- .t: sees r..str........t Tf the holder the lien an agreement satisfactory to Lender subordinating the lien to this Security,ansa,.. ent. i r.-- of- th - the Pro-perrysubject to lien which can attain priority ova this Security Lender determines that any pair of is priority give Borrower notice iddtifying the Lien. Within 1U days of the date on which that notice iiiau tiu,cilty a.cla.aat may Borrower a _----- -v-- _ above given,Borrower shall satisfy the lien or take one or more of the actions set forth in this Section 4. is Lender e tim a chine for real estate tax verification cation and/or reporting Lender may reCi[11IC AofluvvcZ to pay a vrayrtuat..w.a.F,r a -- A _ used Leeds.,in rnnnection with this Loan_ Seri Y 11iG by aJviav w....__..�.with -_ or hereafter erected on the 5. Property Insurance. Borrower shall keep the imp ovementsts now existing he eafte i� the "extended coverage,"and other hazards Property insured againstloss by fire,hazards includedwithin...-term coverage,' any sLs11 he including, not limited to,earthquakes and floods.for which Lender requires insurance, This uw`uiance shall yy but.+....------- --- --___ _ ,___,_� -� the.,patio..tact under rasuires What Lender maintained in the amounts (including deductible levels) and for patiowa .�...a•-�- •-ry•-•--•s •.— • _ the preceding se fences nen change during the term of the Loan. The insurance carrier �� pursuant e;.lu w preceding .,.e...e.r.e. ...... .,..-.a ----o ��_ n_ ..sfs choice, the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrowe s Lerida a acro..r to p r.rmneretion with is Pan_ which right Shall not be exercised unreasonably. L,wtaca may require a,y,aypiw w pay,'.r'.___..__-_� -._--�-Loan, - i a for flood zone determination_ certifieation and tracking services; or(o)a one-time either: (a) one-time charge,... ..............,...�.----- --_ - . L_ each charge fry flrlrldl 7rnte determination and certification services and subsequent cnnrgw time re-mappings or similariian changes reasonably affect such detrmination certificatirni Borrower shall also be occur which rctrsouauty might ..,.... .....----...or---------- --------- shall for payment fees imposed by Federal Emergency Management Agency in connection with i CJpV11J1 V,N i the payment of any ...�.___-_ the_ L.11_-....r the review of any flood zone determination resulting from an objection by Borrower. review.__ . __ fans the ges described above-Lender obtain insurance coverage, If Borrower I3ua to maintain any ofto coverages above_ �-may obtain at Lender's option Borrower's expense_ Lender is under no obligation to purchase any particular type or amount rywr..and Borrower's- _-_ ��- but might or might not protect Borrower,Borrower's of coverage. Therefore.such coverage shall cover Lender, -oro er s or contents the against any risk hazard or liability and might provide Mater equity in the rrvYci ty, the wa<.wi..,ofProperty,_ -a-- --- -- - -or lesser coverage than was previously in effect. Borrower acknowledges Ihat the cost of the insurance coverage so coverage a _.— a previously - of Borrower have obtained amounts obtained might significantly exceed and oust insurance that could..-.- -------- Any -- L rad— this section shall additional Borrower secured by this Security disbursed try holier under yeas... 5 .+...... become �-- debt of- -�shall be......ehle instilment These amounts shall bear interest at the Note rate from the date of disbursement and payable, with such interest,upon notice from Lender to Borrowerrequesting payment „_-_.rnce policies required i ender and renewals of such policies shall be subject to Lender's right to i•1h L1Jth aLLNY by.+_..__...-_renewals--_ __ disapprove such polices_shall include a standard mortgage clause,and shall name Lender ill mortgagee a and/or.a...... t_n have to the and renewal certificates T .en er requires, additional loss payee. Leder shall the right hold tut,policies....,..-...-^---•.--__----- -- - B_-ower shall promptly give to paid premiums and renewal notices. if Borrower obtains any DVU Vwet promptly ...Lenderall receipts of premiums ,,...t......t:....of,the Dm.whd such form of insurance coverage.not otherwise required by Lender,for damage to,or dash-action oa, ..rye y,soh form __d shall name Lender as mortgagee and/or as an additional loss Policy shall include a standard mortgage clause and a.a....-...---_ �-_--o-o-- --- pay ee. the and Lender. Lender may in the event of loss,Borrower shall give prompt notice to it:aw =carrier Lende. f of not promptly Borrower. Tender Borrower otherwise agree in writing,any make proof V1 loss ifnot made promptly by Unless----and Borrower - - -- - _ce proceeds whether not the underlying insurance was required by Lender,shall he applied to restoration .ata--- rr t-rr__ •-y,if or not the ca ly feasible nd r sore's security leheseried- or repair of the Property,if the restoration or repair is economically and Lend s security is not less___- __pair and restoration period Lender,shall have the right to hold such insurance proceeds until Lender 1Jhf lilt,'such repair yw.r.y have -- -- -- --- - 1�_d to r-d�f,. satisfaction, has had an opportunity to inspect such Property to ensure the work has been completed Landes. s .-- opportunity -- , be_-dert_ke promptly. Leader dr:nay, proceeds for the repairs and rr provided that such mspecriOn shall uuucatalecu a.r.,..:.. ...,.� disburse r- -,--- restoration in single in progress payments as the work is compieeai. Unless an agreement is a GJLVn P�ay.i a payment or a series of progress---i-. - _ r._.r e f n .mew ai.A.mury—R<n,tie uJF Msaddle Mac Uniform Instrument Form 3006 1/01- ....�..ter.•---- ------- MEM Motiiea• Sun= Iid/r.11 The Compliance Source,Inc. rage 6 6114 irio,iiiad uy BoispItaac S. •- Rev.-- - www.mmpl•awrreouneecum e2uo0,The Compliance anucq ice. 6082324 it i l(`sL } l\ \\ 201212240 6 OF 21 • _ Tender shall be made in writing or Applicable Law requires interest to be paid on such rha,.. w proceeds,a-.--.•- not -- :_e to pay Borrow= interest or naminaa such prnrrrd_c_ Fees for public adjusters.or other third parties, rc.iuued aawrt. s:'j:....» ....�-on_.'-- - ---- _ of n�e... 7C retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation Borowca. i -- --- o or e- __n__ sior T-ode's security would be lessened insurance proceeds the restoration or repair is not buiuuiuia;auy feasible acudw s sevtrt sty r...-...the-------r------ sLall be applied to the sums secured by this Security instilment_whether or not then due,with the excess,if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. ` abandons the 11.—�. Lender mfile,negotiate and any available insurance claim and If Borrower rappers ay, may ,,..t.settle'--^J available --and matters. Borrower drys not respond within 30 days to a notice from Lender that the insurance carrier has If..-...... r The 30 will 1.-..:..,,.h..the offered to settle a claim,then Lender may negotiate and settle the sumo, period beg."). r. -o In either e. or if Lender---,tree the Property under 22 otherwise_Borrower hereby hollers is given. toga, a.wa,.» a.aP.....,.,....,property.-..-. Section or_ - assigns to iender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid _tL-of B_ wer's ri the right to a y refund under the Note or this Security Instrument,and(b)any vuaca uuaavww s rights(otherthan .,a....,.my.-.--- prem paid l y Borrower) all insurance policies coVCring the Property,insofar as such rights of unearned premiums ..y w......sy under——_---__r_-____ __-__ Property,_ _ a� the are applicable to the coverage of the Property. Lender may use the insurance proceedseither to repair or restore -- - ---- _iderNote this Se....r;ty T. -zr,ent whether due. Oi TO pay amounts uia�yeuu under the Nat:or .,.,.......�......................-�...or not then---• 6. nccepency. shall o ceupy_establish_and use the Property as Borrower's principal residence ,.... "Y-"--J. Borrower-.. ____r•, the pr....e.t.. within 60 days after the execution of this Security instrument anti shall continue to occupy Property as residence at one after date of oecupanc,r unless Lender otherwise m Borrower's principal for least year'saw the v .......J, --_---- ----. _agrees— it , which consent shall not he unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. beyond _acro- ww_1-t_-a..aa and Protection of the Property; Inenertions_ Borrower shall not 7. iresravauvay friaauwaawucc .rat. Protection ._.-r------ -------- -- -- destroy,damage or impair the Property,allow the Property to deteriorate or commit waste on the Property. Whether _ the t Pr tpettu or not Borrower is residing in the Property,Borrower shall maintain Property in order to yicJaut theavywtJ fc._- et _de value due to its condition. Unless it is determined pursuant to Section 5 that rom aaeiioiaiir7g or de,.. -r,g t,,..�............. .._.^__---.------- --- repair m sto rrratinn is not economically feasible,Borrower shall promptly repair the Property if damaged w avoid repair T_- - _- ---. _� __� _,...d.,arc paid in connection with damage to,M further deterioration or damage. If insurance or condemnation proceeds damage o. the tali_.-of,the?copes1.., Borrower shall be re pinsible for repairing or restoring the Property only if Lender has otic raau,� the a acywty, vsa...» shall --ro - ,� released proceeds for such purposes. Lender may disburse proceeds for the repairs end restoratijingle on iu a of _pay-Fa-Ws as work completed insurance or condemnation proceeds Payment or in a series prvgresy payruelrw the is wauyacu.u. Ifthe gat., ......,. ....-. -- ------proceeds repo Property, Borrower is not relieved of Borrower's obligation for the are not sufficient to vets or restore the Property, Borrower_..- --- relieved�- -- - completion of such repair or restoration. _make bre and 7 spections Property if it has reasonable Lender or its agent may acawuavac c„u`iw upyai"ia •••_-ywdv..._of the..,.r�v• -_--Lender - ----- inspect interior of the improvements on the Property. Lender shall give Borrower notice at cause, may try.,....the........... ......-- '------ .' the time of or prior to such an interior inspection specifying such reasonable cause. -----S.-- o-- _Loan Application. Borrower in default if,during the r oan application process,S. Borrower's ltiyraaa vat ped shallbe t...a.....,.y......-a.------rr-----r- -- • Borrower or persons erltitie_s acting at the direction of Borrower or with Borrower's knowledge or consent .............. .,. any r--_--or_-__-- -- Lender(or t..provide Lerida. gave materially false.misleading, or inaccurate information or sstatemen s to Lender failed to L with m �_i:-roan tion); connection with the T oa-a Material representations include.but are not limited to, uratcaaar uuya„�g•lyuy au ...... .........,..... _.�. -�---------- --- - representation s concerning Borrower's occupancy of the Property as Borrower's principal residence. representations-- o Borrower's - - - the Property Rights Under this security Tnstrnment if 9. Protection of Leader's Interest la and a�tksaaw vaa.,.e. t..........,-�.-.J --.-» -- If (a)Borrower to perp the covenants and agrerme-nts contained in this Security Instrument,(b)there is a legal fails.v perform.......... ._ .a_ �---- . _ 1a -d- this Security proceeding that might significantly affect Lenders interest in the Property and/or rights under Se:uaity proceeding - - _L_-t—....t probate,for condemnation or f rfeit,ere enforcement lien Instrument(such as a ytuc:ecuaaag;TA uauaa uywy, ... a..„-.,»�,for..-.r.-___-_of a ___ which may attain priority over Security instrument or to enforce laws or regulations). or(c)Borrower has an y.......J ...-. this -__-__ -- - - - of T e..derta abandoned the Property,then Lender may do and pay for whatever is reasonable tit appropriate to protect Lende Colorado Deed of Trust—Slnele Family—Fannie Mae/Freddie Mac Uniform iusvumeut Furan 3006 in,i ML`DC M_ A:And nage 7 of id Medirtul Ry a`nen,Ji.nt•e Sverre 1a7AT COflMO Rev Sams 1x ticiompiiaaa�iuiz,Loc. ...z......., ...r..r".._,_- ------------ ---------- _n_--n_ _tern....ria wwweompuaattaoaree.00m •ef wy Tim••••••+••••ter.a,...�.,...-. OUu2324 / / //'— !�\I\ \. Ill 201212240 7 OF 21 interest in the Property and rightsbnta under this Seiviiiy r_nluc7tincluding pretwung and/or assessing the value of rite Preperta, end sec,,ring and/or repairing the Property. Lender's actions can include. but are not limited to: a...k.w y, ... ......�Wa �....» rra - -r-- -_..._� can ----- --- (a)paying any sums secured by a lien which has priority over this Security instrument ('a)appearing in court and Ll attorneys' feesthe Property ndio. rights ender 'lie Security (c')Psying rcasrruaulc to protect its interest in vaa,rva lw ,....r instrument including its secured position in a hanky ptcy proceeding_ Reouring the Property include;.but is not limited to,entering the Property to make repairs,change locks,replace or board up doors and-windows,drain watts- from eliminate building _the _de violations dangerous ..ditio.a and he utilities turned or off uom pipc3, or other wuc'viyaaaaawS or C: rout,and t.a.....a.at..w.,............... ...... a lthough f ender.nay take.aetinn,miler this Sr�tion 9Lender does not have to do so and is not under any duty ern• ----- , ------------ _�— __ ... Linder - liability'i.•. n. ,.• authorized wader this obligation to do so. It is agreed that lender moire no Jiapuiry'Ior not slang any or alit actions rowel this awuuu J. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower seemed by this Security instrument. These amounts shall be r interest at the Note rate ucm the date oaisbuaecuawt trod she 1,e .elide with..,...1,;nf., ,mon notice from T eerier irk Rerrnw.arrrnlV•_sting payment. ,...o .....wy..r..... .. _ ...,...��...... .___.. ....._.1. __ter ,__ .. If this Security?.nstrumcrt is on a leasetclii.Borrower shall comply with%.1 the provisions of the lease. If Borrower acquires fee title to the Peopeety,,the leasehold and theestu::c shall not merge unless T ve.adew a yw to twhe itinn ..,...111 .11. n........b. 10. Mortgage insurance. If Lender required Mortgage instu'ance as a condition of making the Loan, shall pay e —ed to - the Mortgage Insuranceeffect Tl any the iiolYvwcr pay the premiums rcti,rued rfa'onu+^kp ,..ve in effete. for r-.,e.,.:^u, ,. Mortgage In urance coverage lequirerl by Tender erm.m.to be available from the mortgage insurer that previously ....,..a_a- � __z -tins_ pIovided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage T_,.u_.._c_ Bari.. pay the.. required chtain substantially equivalert to the 1r2V1 L�a�e ridged dues,uw,e"n'u shall ata..l.t"w.....� to ......":e..�yt.,.....,---------, -Z_.._.R__.._._ Mortgage insurance previously in effect at a cost substantially equivalent to the cott to Borrower of the Mortgage _.____ten_ Insurance previously -- - ,. _elected by r ed_ If sub _ti_lly____i_e1__. insurance previously in effect,from an alternate mortgage Ins1liu yorwlou r.aouca. u 2Pwswu6iry aqui-eel= MortgMortgage insurance is not available,Borrower shall c ntinue to nay to Tender the amnumt of the separately age Insurance coverage tilt. ..........»....-.._-........�.�rJ ---------------•--- ----- designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept,use end eta . . non-refundable r in of Mgg_Insurance. reserve shall be retain these payments as a loss reserve lieu nuwreaec reediest Such loss a,� .,efc.deble: r,oteeieneending the fern that the T pan is nitimatc'.y paid in fillt and Lender shall not he required to,^,.=...tit.....,,,...,t.,,....a..t...........n pay Borrower any interest or earnings on such loss reserve. Lands can no longer require loss reserve payments if Borrower- _d_ the period Lender provided selected Mortgage insurance(:pVQ'Q�r(irk the Gi1rlJYi1 i aril r14 that requires) by an insurer by i ender abn becomes vbl aailae is nhtained and Tender requires separately de ignated payments toward the cJ 4 ..... ..........- ...e..-...-, � _--_- __r--- r_ sins_ __- premiums for Mortgage insurance. If Lender required Mortgage Insurance as a condition of making the Loan and - -- r was required t- --k- ----tely desi—at_d __..Yat_ for Mortgage insurance narrower w-aa royuuw w urate xsyalaicry uwaf,laawu yoyaacuu toward the premiums Mortgage BorroBorrower shall pay the premiums required to maintain Mortgage Tnm,ranee.in efFect-nr to provide a non-refimdahle wer w.... ...,r..�,........-..._Z_.-_ -....-..-.. —sinus_-_-__� r loss reserve, until Lender's requirement Ior Mortgage insurance ends in accordarce with any written agreement between Bo and Lender .:d:.. for such termination ,til term aliorequired Law. Batrower atuauea F,iairaasau� or until as awtt..t.a...ta.is byApplicable•^'^• Nothing in this Sertinn 10 affects Borrower's obligation to Day interest at the rate provided in the Note. • Mortgage insurance reimburses Lender(or any entity that purchases the Note)for certain losses it may .if ra..nenee..does not re.,.ea,the T r. „r,..e,p R.,r_r•, nota Hart„to the'Mnrbage Tresrn,r f a1l<:ui Boneneer rate ata..repay ,.a....,et,..:e•C ..»t .. ...t" ... .._....b..b� .....-....__. Mort/pee insurers evaluate their total risk on all such insurance in force from time to time,and may enter with other ti -herr ---dif- risk- ----1-- ' --- T--e a --nems are en t_`_ into agreements rIIparties that share Cr(. modify their na1c,Vi rR[u';c W,1tG2�. idose at}ccwca:w �u teems ..d ..,...,7;ti,...e fiat set;sc,...,r,to the.mortgage;nelrrr,and til..nth.-_•nerty lar partied t•,1he,-e agr enlenta- . .,,aae t t, o., era_.--- v-_ -- r—.' '-- ---i -- qtr These agreements may require the mortgage insurer to make payniente using any a ouri.e of funds that the mortsagc insurermay ---Table`whi_h fends obtained Mortgage Laurance ns) may gave avrdlagle\WCLLIir!may include lduu.. from Mortgage LID{Laakw In ca:u LuuDJ. Ace result of these agreements T enrier,arty purchaser of rh.n Nnte another in.alrer,any reinsurer,any other . . ....-„-..o.--....-....,-_� .r-_--” -_suis nisi"_nuns_ -_ ,-_ _-- entity, or any atzlliate of any of the foregoing,may receive(directly or indirectly)amounts that derive sem (or Colorado Deed of Tlurt Sing le Family-Facnle Mae/Ere dis Mar Uniform Instrument Finn 54;06 int i M1,`.Rs Mrviife41 _. _ itis_- w...o of l 2 Mt..1;nr by Co...eaea..,Source 142:17 CO MOO Rev.CM •1 LLG tuauyr'+a9Ll.G ouuai.G.Sac. .ems•.as w t r t.aw.... ..,w.. ......� .. .. www.comllnanceon2Le.com C awv,L m Conapiiia t 5 c,aa LC,iiK'"- 6082324 /., • Nn. K1 1\ 1- 11 v 201212240 8 OF 21 -h_-__.- _.1 __, _rn__.a..._,._ is for Mortgage Ina-roe ..,.h.n..e for.her, or miguc 0C ccaiHciCnzca as)a.portion u DV1LVWca a y&yauc`uw iva Ina-romance,a^,0.�,IT......,a.,b. ,... .:.b^ maA;f;ag the,nn,+e.n.insurer's rich nr reflneing losses- Tf each agreement provides that an affiliate of Lender ...y...a ......., .mar .,_-. '__ ------ a takes a share of the insurer's risk in exchange for a snare of the premiums paid to the insurer,the atrangcment is often.a—WG_LL"captive reinsurance." LMutuT. (a) Any much agreements will not affect the amounts that Borrower has agreed to Day for Mortgage Insurance,or any other terms of the Loan. Such agreements will not increase-the atnuaut Burrower-ull owe for Mortgage Insurance,and they will owt entitle Borrower to any re.,nd (h) Any such norermenta will not affect the rights Borrower has - if any-with respect to the _ _ecce _ _ l_- •m1____ __.L.. Mortgage Insurance under the Homeowners 'eh-election ACL o1 1770 or any other law. Theo AagIW may mewls A. uV tar.e aaa..a w rwn.tve...+.».n'He.,.nln .,,.ee,t o rannaet anti nh+ in recanceraflatlnn flu.Mnrtearn Tnsnranee_ to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage -_ r _ ___ .L_ _r_.__L_ _mustier a a.Trt�wtiwr insurance premiums that were UUV5i U�a at attc"tui of 114a:u..+ww.«..vu or 77 Anteeraent of Misc•e-humans Proceed-' Forfeiture- All Miscellaneous Proceeds are hereby ... . sslimma_. -r enna - - -- ---cell- - hereby assigned to and shall be paid to Lender. If the T .. s...I. Aar.sw.A ...1. Miscellaneous Aa....As shell 1.e--plied to restoration or repair of the u WV[1 VyV,,.y 1.uaWa� ouV.,.,.. .,.. ........ ......ler.. ............»...... -. ._ -.the property,if the rretoration or repair is economically feasible and Lender's security is not lessened. During such ---r---�. --- ecce-ecce -- —r - - .. . • ..t ., a ,_ ,- .d -__t,.1---"_-coos PlovoeJ---til r-U&-L_..had repair and restOlanon period,Lender shall Haut me ngru To nota eros Ivt15ccIIiiIIwW riwawa until i.c.ltc.a LIB.luau .to : .......t s...T, v,.......a..t.....e...-e the work hes Leen mnll ai to TenAer'U eaticfa Linn nmvirlM an opportunity IV Inaywa......,.a'F' V ''w,° - ...V work.,w..w..w...l............�.-..».. - that truth inspection shall he undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the worn is completed. unless au agreement is made in wr'iuug .__1......1w T. ..t....st fie.Tee...:A 0 1,11.As .ilen.m,e Tsrnr.wAa T Ant IOW shall not he rernlirad to nap or rtyyuVau.,.carp mini--lea w.w w y..+......ww..,.......+......... ........a....y ..,........... .—t-----r-5 Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible - LU o lessened,the Ivan -hitt ' "ee"d-shall t_applied a_the Taros..__.._ed by ICaSlgle or Lender's security would be ICSJCaCq the 1v1L1VG116IIOVL/1 rivc:ooua aur+.be applied W the.LULia secured Vr 4.sm.,.r.,y ...... ... ant then Ana with lineet-r,csr if an�y pailo RnrrnwerSuch Miscellaneou s Proceeds shall be applied in the order provided for in Section 2. _r_total �destruction, 1_ ...1.. .era..-n....., ri..Miscellaneous Ds.,....As shall ip.the event of u WW.I n.,.lnl`„ Vi.Vas ill-vacuo-of the.Property,uaa+.,+..a.V�.auwun a aww..o waw.. he..,stud to the num c.rurpel 1,,,this S,riaity instalment whether-or not then due_with the excess-if any Haid to .,r»rr..----------r------- —------� ecce— -- - e e Borrower. _r_partial t_1.:-.. dust r 1. .w1.. .fthe D..,,..a..: ..a.ich the fair market vedue of Io UID OVaaef of a1}? LUa.L4A.W5,L WL,AVLAVU,V1 loss ill Yalu\.V.the a avyVay,n...,.V..the .+...+�.....»....v. the property imine Aiately hefnrn the partial taking_dectructinn_or loss in value is equal to or greater than the amount l Of the sums secured by this Security Instilment immediately before the partici taking,destruction,or 1055 in varus, LralCaa D, -ower_aur Lender Vtheze;i._as�an :t:ub, the u. by A:. C.w..raty Taetraa..,t sha11 1. .-"..... v. rerl„r'4 by the arm-mint of the Ml,l icretllanees Proceeds multiplied by the following fraction: (a)the total amount of __---r --ecce- - -- -- -- -- ,._ the sums secured immediately before the partial taking,destruction,or foss in value divided by(b)the lair Lozuket ....1....Of the D.....e.t<.:.....,.A:.tel<."forethe aortal t.k:aa A.sr,,,rtion or encs i,,,alae Any halanrw shall tip Haid ,a,VV V.WV a avy...� ....V...«V.� ...............r........ ,..e...b,.....,......»...y............. .»...-. r....r.�.,..-..-_r to Borrower. in the OVeu_of partial-taking,UGau-cu-W--,or loss in-value of the rniVyG-.y in WUIVU the fair-market.,OAU.of the plw,ert„irnm.Aiat.ly h.fnra the partial fairing deatnuMinn. nr'Irma in valve is less than the amount of the S11111/1 secured immediately before the partial taking,destruction,or loss in value,unless Borrower and Lender otherwise the Miscellaneous Proceeds ..h..n t.. ......1:..7 time e.....eA 1.. fit,i O......7t., Instrument SZy cc ill WTiuug, uta.vua�cuauw,ia a LVVwV. pilau VV applied to LAS' .aaaaa .'w...w ..,� ..,,. .,......,..� ....,....,,....,. whether or not the sums are then dile, lithe Property is abandoned by Borrower,or if,alter nonce by i Idcr to Borrower that Inc Opposing Piety fame defined i the next se..teaweT offers to mak.an tierA to smile o nloim f.4mmay.' Rnrrnal._e fa:le to rasnnn,I to `aa defined 111 the next AVIS StAVV�V .v .. n . V.......5 15.... 0 1•••••••••• • Yvr»•» Lender within 30 days after the date the notice is given_Lender is authorized to collect and apply the Miscellaneous r . i., . r., r the __---1 t__.1!_a__umy ray-_-__. whether�__ rloceeas either to restoration or repair of the Property or to coo aiwo�au:lircu by alis uwwiry..,.0 luucuy wucwa VI Colorado fixed of Iran-single i'amuy- aneie i+iae/ readie Mac uniform Instrument Form iuuo uw. MERS Modified The rw.....li...a.e.......T... p..,,a.f 1 A lUw.iiR.el 1...rnsnli.aw.Sea.w 1 avfl1 rn 05Rla IIw AAIAC .............y..«.......r...--,...... cry..,..... ..t ea•--^.. ... .. rWW.m.omfxa-uzalUUI%WYa V V, ea W2'[ V� _ A... (. uJ\(\ `.) 201212240 9 OF 21 the owes Borrower Miscellaneous Proceeds or the party not then due. "Opposing Party"means third party that t�VaavwcJ aJvvw..a party Borrower hoc a richt action in regard to Miscrllaneratc Proceeds_ against whom erre.. ...r._..y..of_erre.._..-v--•------------ - Borrower shall be in default ii any action or proceeding, whether civil or criminal, is begun that, in -der e-. old __t.:_forfeiture of the A..«e..J..or...1.r material impairment of Lender's interest in the Lender's jedg—ment,eoulu result w for eitu e J ropes) vuaaa maters ire-4-mer .,er .+ _ ,.„�- Property or rights under Security instrument Borrower can cure such a default and, if acceleration has a.vt.v e� ... .e,...... this --occurred,reinstate as provided in Section 19,by causing the action or proceeding to be dismissed\vrth a ruling that, •__d — precludes forfeit-ire of the or oda=material impairment of Lender's interest in the in LGDQCr'��UUI'ylnent, Ivlielrwe w.v Property yuan ...........in the er riahrs ender this Security instrument The proceeds of any award or claim for damages that are property ... ._berth. -"J �-- proceeds- Lender.attributable to the impairment 0I Lender's interest in the Property are heloby assignee and shall be paid to,.coon. •n ll�__eep,._eous Pro ends that are a.«lied to restoration nr repair of the property eh all be applied in fol avusl.cuauWw t a Veu�w+J,.tw aJ..not,Jt.I.J.w.e,t w.w«..e...e.. Y"" •,•••••••••.r....dTr---— the order provided for in Section 2. Extension of time er Not Released;ForbearanceNotthe or....ad;C.cation amortization rbc roams secnihil by ihie Sec city instrument granted by i.ender Borroweer or —"Tr cation ofluaa--4-waeu of.-Ise ...e.. i.. ..J "'•'�^"^••b. —J —erre to—____..__ __ any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in t t fB neer-_-- vender shall not be required to commence proceed7_gs Successor in Interest of interest of Borrower. Lender aotjuuw wauuacuw yaaJa.eauulba against any Borrower or to refine to extend time for payment or otherwise modify amortization of the sums secured by this u e+.. , .........�..... -... .., ---erre—_ ---- v_ _r Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance ceaby LGnudR in exercising any right or remedy including, aithee,t.im.taton,Lender's rreptance of payments from third persons-entities or Successors in Interest of Borrower or in amounts less than the ........r«e.-.,...rr—_--, amount then due,shall not be a waiver of or preclude the exercise of any right or remedy. Joint Several Liability;Ce signearer Successors and Assign.Bound. Borrower covenants and 13. and Several"'e YaJtttf••v-Sas••....,cash tie e�� rr.6..a Borrower--.��.r agrees that Bo rower's obligations and liability shall be joint and several. However,any Borrower who co-signs this that ----o---- liability - _ r _Instrument t Security instrument but does not execute the Note(a'co-signer"): (a)1.1'co-signi5g dills uca:utii-y ausu iwaQaa only to grant cors: er's interest in the the terms ofthis Security instrument;(ill is mortgage, and convey the sabJaw s..,... Property under..._.....� -- -� net personally obligated to ay the sums secured Iry this Security instnmlent.and lei agrees that Lender and any ., pforbear-or accommodations a to the terms this other Borrower can agree to extend,modify,lvrocig make any with ac�wu t,,... of this Ce....,...,rnstra.ment or the'Mnte without rhe ancioner'c rrmcen1 vw,..Jam ,.r..a........... ...erre......_...... -_---_____ Subject to the provisions of Section 18, any Successor in interest of Borrower who assumes Borrower's oved tender, obtain of Borrower's is obligations under lilts' Serail/Ty Instrument in writing, and is n}iiJ,vvw by J.w+uu,shall all erre p.�. rights and benefits under Security instrument_ Borrower shall not he released from Borrower's obligations and „g....,a..,...Jw.......,......e-.this....._.y _----erre -------- -------- d liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and of Security t_ (except provided in 20)-aid benefit the cessors and a�jCLGll1ei11.J this a7Riul ia)•ausu uufc+Ji shall bind as Section etre..vee....•......w....w ...-._.- amc of T ender 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's�'_ d f ult for the protecti« 7 eider'sinterest in Property and tights =der Security auriuwer s uvlawa, purpose of Faylwtiu3 Jre.J....J s the t.e,n....y ..y...r 3-.-.-ee this instrument including but not limited to-attorneys'fees,property insuecion and valuation fees. In regard to any _h___a 1C-fee B_ hall not fees,the absence of express authority in this Security Instrument to c:rmrgc 5idol:�alt: to rnui,iwra:.auto be corr.,--trued as a prohibition on the cle....-n.rir.gof s c fee. TLe deer may not charge fees that arm el eesiy prohibited by this Security Instrument or by Applicable Law. ran- r ---- e-rubJ- tt- - law which -`-maxim m charges,arid is retelly int -ed so that lithe Loan 75 suDJ GC:L w a 1aW Wurcu o�5 maximum loan aaau tact law w aauctlr auwayJ elRathat or other loan charges collected et to he collerte in connection with the Lean exceed the permitted theinterest ... ..n.,.. erre_.__«.ee.. r....�---- -- -- --------— ------•--- with -- -----exceed then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) - already collected which a eeded pe witted limits e� tided to any sums collected Rr from Borrower eAVM.4JW I,.eJt„t,J..t will be J l •V Borrower T ender may choose to make this refimd by tea-inning the principal owed ander the Note or by making a .r.........._. erreerre..—...—J —•neer------__--____--.—J Q —_principal direct payment to Borrower: if a refund reduces principal, the reduction will be treated as a partial prepayment Colorado Deed of"(Past—Stogie FamCy—Faante Mae/Fredcic Mie Uniform Instrument Form sOuS IAA Malt Modified ThThr—_-__ ___ nee...re ar 14 au w:Ja .,Co--"---Somme 14301CA rwm0 Rev.rump e -�.prlaa:z.Jw.,.¢,I-- ...�...,.. .........ea.t J..aereee�.,erre .. .. www.compuancesource-cunt 02000,The Cwnpiiaace Source,Inc. 6082324 // r tt7\ K.iI\ 201212240 10 OF 21 without any ent (whets.._.or nota prepayment charge provided under the Note). Borrower's Ya d�Ya`jaaavua charge�.. ...,...Y:"'1....... is provided for—� Note),___ -Borrower's - - acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action L overcharge. might have arising out of suchOyrsl%IIaa�G. 15. Notice en..crines given by Borrower nr T ender in ennnection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security instrument shah be deemed to have been given to Borrower when mailed by first class mail or when actuallytoBorrower's notice address if salt by other Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the PropQiy Address unless'Borrower has designated a substitute address to r endr Borrower shell promptly notify Lender of Borrower's change of address_ if notice by uduw a�c,auca. � . notify ...Borrower's.. .Q_ �---_. _ Lender specifies a procedure for reporting Borrower's change of address,then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address trader this Security r_..-_- -a A.. notice to T...d..shall b. en bre delivering it nr by mailing it by frrst class mail sus raerrcut at any one t:... a-..y.. w,.......... 8.;`.,...., .._...�ro..-- -, ---to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in n i _----__--stated i- shall be deemed to have beengiven to Lender until actually by connection with this Security rimsalllIIC`alt not ,.ccua - a....uaaa�received..) Lead= if my notice required by this Security Instrument is also required under Applicable Law,the Applicable Law requirement will satisfy the corresponding requirement under this Security instrument. Law;_Sever.a.sl:,_..Reim ofConstr,..tion This Sec.a,rity Tndrirment shall he gnvernerd 16. Ge-vee—"--Laa'I;Seve abauayr Reim of vvaaata wvwva+. eery +...+�.-..---.-..•------p-•---- by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained and limitations of Applicable Law. Applicable Law in this Security Instrument are subject to any requirements axe. acre might explicitly or implicitly allow parties to agree contras t it might be silent such shall be cxYuuauy allow the parties..,b"c"by.cuc.tu...uc.or...... ...�...- but---silence--not-- cnnetnled as a prohibition against agreement by contract in the event that any provision or clause of this Security _ ____---r_--- shall affect of Security instrument or the Note conflicts with Applicable Law,such conflict shall not otherprovisions this Se uri 7 I_ _-ent or the Note which ecru.Sue..iven effect w thout the conflicting prevision ditad uuaGtit live wvatw... ...........•......._-.....b Y-_.--_-- As used in this Security Instrument (a)words of the masculine gender snail mean and include corresponding neuter words or words or the feminine`cuua_;(b)words in the singular shall meet„and melude the plural and vicend(c0 theword"may"gives sale dienretinn without any obligation to take any action_ plural arid ver.,...•a...+t..�.w. ....., y.,.....r._�_._..--...�--—� --- --- ------ 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security instrument. . --- - 13. Transfer of the Property urs a Beneficial Interest in Borrower. As used in this Section 18,"Interest in the Property"means any legal or beneficial interest in the property,including_but not limited to,those beneficial Property"...............� ..t,........-.._.._._.-. .------r-_�. - ._. interests transferred in a bond for deed,contract for deed,installment sales contract or escrow agreement,the intent the of title Bo_rowr. a future date to.. rhaser. OI which is SaG transfer by DbaaywG at a aldut av w a Ylia acuaaan. if.it or 0,7 part of the prrinerty,re env Tntere_a in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred)without Larder's prior written consent, Lender ---'-- '---"-`-payment:_ nun of all ......... secured this Security Tns rument However this may rotluuc uu�.nallatc in fa alaaaaa by atn.a........... ..,c..,c.�., ...... option shall not be exercised by Lender if such exorcise is prohibited by Applicable Law. this Lender -_ti__of l_-_t__- The notice shall provide If Leader exercises option,i.enaer shall give Bou-ower notice atc;cacaaubu. The provide period less 30 fro,-the date the notice i , aernrdance-with Section 15 within which a of not awn than days.. ...t...c .c....ta.ct...u..s.,dyen... ..-�-�--- within must pay all sums secured by this Security instrument. If Borrower fails to pay these sums prior to the expiration or this period, Leader may invoke any remetucs permitted by this Security Instrument without farther y= B_ demand on orrowe_r aaya w 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,Borrower shall have SVe ILG right to have enforcement of this Security inau.m•eet discontinued at any tde prior to the liet of: (a)five days before sale of the Property pursuant to any power of sale contained in this Security Instrument f b)such fie, .._�,..__._._ _-"---"-r-- r--_-'--- power- -- - --..- arty other period as Applicable Law might specify for the termination of Borrower's right to reinstate;or(c) blf a :__dcent enfora:-g lnc t..,ment Those conditions are that Borrower.... (a)pays T ender all sums which �utdb'tuaaa Guava daaae this Security.aura.....a.a.. w.a..wv..a.w,.pa......c..u....... encu.--. .....-�- ...e� acoin,5lin Tulin vitri cit-usluajle Fmrhy—c_•ruue i a•-_(Fi idle Mee clr..w.-...:....twr.........t Woe_3t!K tA1 MERS wowed Th.Compliance Source Lid PAM 11 of 14 Modified by CoreSource ol duce Soce 1430100 08!00 Rev.04/08 C/MN The Compliance Source.inc. 6082324 wJ vf) 201212240 11 OF 21