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HomeMy WebLinkAbout4.02 Lot 2 Construction Deed of Trust858047 01/08/2015 12:50:05 PM Page 1 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded RECORDATION REQUESTED BY« Bank of Colorado Basalt 655 E Valley Rd B asalt, CO 81621 WHEN RECORDED MAIL TO: Bank of Colorado B asalt 655 E Valey Rd Basalt, CO 81621 FOR RECORDER'S USE ONLY CONSTRUCTION DEED OF TRUST MAXIMUM PRINCIPAL AMOUNT SECURED. The Lien of this Deed of Trust shall not exceed at any one time 3800,000.00 except as allowed under applicable Colorado law. THIS DEED OF TRUST is dated December 22, 2014, among Southern Puma, LLC. A Delaware Limited Liability Company, whose address is PO Box 540304, Houston, TX 77254 ("Grantor"); Bank of Colorado, whose address is Basalt, 655 E Valley Rd, Basalt, CO 81621 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and the Public Trustee of Garfield County, Colorado (referred to below as "Trustee'). CONVEYANCE AND GRANT. For valuable consideration. Grantor hereby irrevocably grants, transfers and assigns to Trustee for the benefit of Lander as Beneficiary alt of Grantor's right, title, and Interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; alt water, water rights and ditch rights Onduding stock in utilities with ditch or Irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oll, gas, geothermal and similar matters, (the "Real Property") located In Garfield County, State of Colorado: Lot 2 The Ranch at Coulter Creek P.U.Q. According to the Plat thereof recorded June 9, 2004 under Reception No. 653768. County of Garfield State of Colorado The Real Property or its address is commonly known as 1003 Cattle Creek Ridge Road, Carbondale, CO 81623. • Grantor presently assigns to Lender (also known as Beneficiary In this Deed of Truat) all of Grantor's right, tide, end interest In and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, 15 GIVEN TO SECURE IA) PAYMENT OF THE INDEBTEDNESS AND (Si PERFORMANCE OF ANY -AND ALL OBLIGATIONS UNDER THE NOTE. THE RELATED DOCUMENTS. AND THIS DEED OF TRUST. THIS DEED OF TRUST. INCLUDING THE ASSIGNMENT OF REFITS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF GRANTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN GRANTOR AND LENDER OF EVEN DATE HEREWITH. ANY EVENT 0F DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN'AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Grantor shall pay to Lender all amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Grantor's obligations under the Note, this Deed of Trust, and the Related Documents. CONSTRUCTION MORTGAGE. This Deed of Trust Is a 'construction mortgage' for the purposes of Sections 8-334 and 2A-303 of the Uniform Commercial Code, as those sections have been adopted by the State of Colorado. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the following provisions: Possession end Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property: (2) use, operate or manage the Property; and (3) collect the Rents from the Property. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Ccmplanea With En ironmentei Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of the Property, there has 'Peen no use, generation, manufacture, storage, treatment, deposal, release or threatened release of any Hazardous Substance by any personon, under, about or from the Property; (2) Grantor hes no krtowladge of, or reason to believe that there has been, except as previously disclosed w and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or lc) any actual or threatened litigation or claima of any kind by eny person relating to auch matters; and (3) Except as previously disclosed to and acknowledged by Lender h writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance On, under, about or from the Property; and lb) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations end ordinances, including without limitation all Environmental Laws. Grantor authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lander to Grantor or to any other person. The representations and warranties contained herein are based on Grantor's due ctlgence In investigating the Property for Hazardous Substances. Grantor hereby It 1 releases and waives any future claims against Lander for Indemnity or contribution In the event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to Indemnify, defend, and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender c/ 0997 858047 01/08/2015 12:50:05 PM Page 2 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST (Continued) Page 2 may directty or )ndlrectfy sustain or suffer resulting from a breach of this section of the Deed of Trust or ase consegeence of any use, generation, manufacture, storage, disposal, release or titivateaed release occurring prier to Grantor's ownership Or )Merest in the Property, whether or not the same was or should have been known to Grimm. The provielons of this section of the Deed of Trust, including the obligelion to indemnify and defend, shell survive that payment of the Indebtedness and the eatisfecdon end . reconveyance of the lien of this Deed of Trust and siva not be affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise. " Nuisance, Waste. Grantor shag not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of err waste an or to the Property 'or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or.gra t to any Other party the right to remove, any timber, minera)a drtoludln g of end gas), coal, clay, acoria, soli, gravel or rock products without Lender's prior written comet. Remora! of Imprweroerati. Grantor shall not demolish or remove any Improvements from the Real Property. without Lender's prior written consent. Aa a conddon to the removal of any Improvements, Lander may rsgdre Grantor to make errangamerm satisfactory to Lander to replace such Improvements with Improvements of at leaat equal value. - Larder's Right to Ernes Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable. times to attend m Lender's interests and to Inspect the Real Property for purposes of Grantor'e compliance with the terms and conditions of this Deed of Trust Complance with Governmental Requirements. Grantor shall promptly comply with all laws, ordknercea,. end wile/dons, now or hereafter In affect, of all governmental authorities applceble to the use or occupancy of the Property, Including Whileut IImlLadgn, the American With Disabilities Act. Grantor may contest an goad tail -'any such law,'ordinance, or regulation and Withhold compliance during tiny.proceedIng, including appropriate appeals. a0 long as Grantor has notified Lender In writing prior to doing so and so long ea, In tender's sole opinion, Lender's interests len the Property are =jeopardized. Lander they require Grantor to peat adequate security or a surety bond, reasonably satisfactory to Lender, to protect Lenders (nearest- Duty to Protect. Grantor agrees neither to abandon or have unattended the Property.. Grantor shell do ell other acts, in add)tiO n to those acts set forth above In this section, whkh from the character and use of the Property are reesorady feoeaeary to protect and preserve tfa Property. ' Construction Low', if some or all of the proceeds of the loan creating the Indabtadnees are to be used to construct or complete construction of any Improvements on the Property, the Improvements ahan be Completed no later then the maturity date of the Note (or such earlier date as Lender may reasonably establish) and Grantor shell pay In full el Coate and experwee In connection with the work. Lender will disburse lean proceeds under such terms and conations as Lender may deem reasonably necessary to Insure that the Interest created by this Deed of Treat shell haw priority over an possible gena, including those of material suppliers end workmen. Lander may reoulre, among other things, that diebkrsement requests be supported by reeelpted hale, expense affidavits, waivers of liens, construction progress reports, and such other documentation as Lender may reasonably request. DUE ON SALE - CONSENT BY LENDER.' Lender may, et Lender's option, declare immediately dos and payable all hums aecured by Shia Deed of Trust upon the sale or transfer, without Lenders prior written cement, of all Or any pat of the .Real Property, or any Interest In the Real' Property. A 'sale or transfer' means the'cornayance of. Rear Properly or any right titin or interest In the Real Property; whether %gal, beneficial or equitable; whether voluntary or involuntary; whether by outright "sale, deed, installment sale contract, lend contract, cotrtract for deed, leasehold kteress with a term greater than three (3) years, tease -option Contract, or by sale,- assignment, or Vanaferor any beneficial Interest In or to any lad trust holden thde to the Reel Property, or by any other method of conveyance of en 'merestinthe Real Property. if eny Grantor is a corporation, partnership or limited lieaslny company, transfer also includes any change in ow'rerehip of more than twenty -true percent (251) of the voting stock, partnership interests or flm)tsd IlebOlty company interests, as the caw may be, of such. Grantor. However, this option shell not be axarjsed by Lender i1 such exercise le 'prohibited by federal lea or by Colorado kw. TAXES AND LIENS. The following provisions raladne to the taxes and liens on the Property are part of this Deed of Trust: Payment Grantor shall pay when due (and in et events prior to delinquency) .el taxes, spade] tams, "assessments, charges (including wear and sewer), fines and impositions levied egelna1 or on ao0ountof the Property, and snarl pay when due all deems for work done on or for services rendered or material furnished to the "Property. Grantor shall- midmelr the Property free of ail Tone having priority over or equal to the interest of Larder under this Deed of Trust, except 1 O the lien of taxes and aasesamante not due and except as othsrwiee prnivided in thls Deed of Truat. Right to Contest Grantor may .withhold payment of any tax, assessment, or claim In connection with a good fedi dispute over the obligation to pay, so long as tender's• mteregt In the Property b not jeopardized. its Ilan ansae or le filed as a result of nonpayment, Grata shag within fittaen (161 days otter the len mace or, if a lien Is feed within fifteen 115) days after Grantor. hes notice of the Ping, secure xhe. discharge of the Ilen, or If requesteo by Lander, deposit with Lender cash or e sufficient corporate surety bond or other ia,budty satisfactory to Lender in an amount autficipnt to discharge the gen pita arty oo3M and attorneys' fees, or other ohargea that oouid accrue es a result of a foreclosure or oda Lader the lien. In any contest Grantor . shell defend itself end Lender end shag latkfy any adverse judgment beton enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.. Evidence of Payment. Grantor shall upon demand furnish to Lender aetisfactery evidence of payment of to taxes or =memento and than authorize the appropriate. governmental official to dealer to Lender at any lima a written statement of the taxes and assessments against the Property. Notice Of Conatraalice. Grantor shell notify tender at least fifteen (151 days before any work Is commenced, any services are furnished, Cr tiny msterlafs ars supplied to the Property; -ft she Machu:eel San, rnatedalrnen's get, or other lien could be smarted on account of the work, sevtcea, or materials. Grantor will upon regtaet of Lender furnM1•to tender advance essuranoes satisfactory td Lander that Gremor can and win pay the oast of_suoh Improvwnants.• _• PROPERTY DAMAGE RBtJRANCE. The following provisions relating to insuring the Property area pert of this Deed of Trust. Maintenance o) Insurance. Greeter rhea procure and mantilla policies of fire Insurance w)ah standard .extended coverage endorsements an a replacement barna for the full Insurable value covering ell Improvements or, the Red Proper -pith an amount sufficient to avoid application of any colrauraece clause, and with a standard nth -teases clause In favor of Larder. Grantor shall also procure end nneirrtain comprehensive general liability Insurance In such coverage amounts as Lender may 'request with Trustee and Lender being named an additional Insurers n such liability Insurance policies. Additionally, Grantor Owe Maintain such other Insurance, including but not-lmtted to hazard, bmIneas Intenuptton, end boiler insurance, as. lender.rray reasonably require. Pollolee shall be written In form, amounts, Goveregea end basis reasonably edceptab(e to Lander and'leeued by "a company or companies' reasonably eccoptoble to Lender Grantor, upon request of Lender, will deliver to Lender from time to erne me p0 (cissa or cartliteese of Insurance len form satisfactory to Lender, including stfpuledors that coverages will not be cancelled or diminished without at least ton -(10) days, prior written nodce to Lender. Each Insurance policy also shall include en endorsement providing that coverage in fever of Lander will not be Impaired In any way by ani' se:, omission cr default of Grantor - or any other person. Shedd the Rea Property be located in an area designated by the Administrator of the Federal Emergency Management Acecy as a specie{ food hazard area, Grantor agrees to obte{n.ard maintain Federal Food Insurance, lf available; for the full unpaid principal balance of the bar ed any prior Bens on the property securing the Joan. up to the maximum policy nmite set under the Netlonal Rood Insurance Program, or es otherwise required by Lender, and to maintain such Insurance for the term of the ban 858047 01/08/2015 12:50:05 PM Page 3 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST (Continued) Page 3 Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lander may make proof of loss If Grantor falls to do so within fifteen (18) days of the casualty. Whether or not Lenders security Is Impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any Ilan affecting the Property, or the restoration end repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor Is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 1130 days after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment In full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's Interests may appear. Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shell furnish to Lender a report an each existing policy of insurance showing: (1) 'the name -of the insurer; (2) the risks insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the expiration date of the policy. Grantor shall, upon requeat of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or 11 Grantor falls to comply with any provision of this Deed of Trust ar any Related Documents, including but not Ilmhad to Grantor's failure to discharge or pay when due any amounts Grantor Is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security Interests, encumbrances and other claims, at any time levied or placed on the Property and paying all coats for Insuring, maintaining and preserving the Property. All such expenditure' incurred or paid by Lender for such purposes will then bear interest et the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the Indebtednesa and, at Lender's option, will (Al be payable on demand; IB) be added to the balance of the Note and be apportioned among and be payable with any )nstaltment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (CI be treated as a balloon payment which will be due and payable at the Note's maturity. Tha Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may he entitled upon Default. WARRANTY; DEFENSE OF TTTLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: Title. Grantor warrants that: (s) Grantor holds good and marketable title of record to the Property an fee simple, free and clear of. all liens and encumbrances other than those set forth in the Real Property description or in any tide insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Grantor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. Defense of Tide. Subject to the exception in the paragraph above, Grantor warrants end will forever defend ths title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the Interest of Trustee or Lender under this Deed of Trust, Grantor shall defend the action at Grantor's expense, Grantor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented In the proceeding by counsel of Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such Instruments as Lender may request from time to time to permit such participation. Conpianos With Laws. Grantor warrants that the Property and Grantor's use of the Property compiles with all existing applicable laws, ordinances, and regulations of governmental authorities. Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Deed of Trust shag aurv(ve the execution end delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such time se Grantor's indebtedness shall be paid in full. CONDEMNATION. The following provisions relating to condemnation proceedings are a pan of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any pert of the Property is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may at its election require that alt or any portion of the net proceeds of ths award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and attorneys' • fees incurred by Trustee or Lender In connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges ere a part of thio Deed of Trust: Current Taxes. Fess and Charges. Upon request by Lender, Grantor shall execute such documents In addition to this Deed of Trust and take whatever other action is requested by Lender .to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for all taxes, as described below, together with all expenses Incurred In recording, perfecting or continuing this Deed of Trust, including without limitation ell taxes, fees, documentary stamps, and other charges for recording or registering their Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: (t) a specific tax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Grantor which Grantor Is authorized or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tan on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor. Subsequent Taxes. if any tax to which this section applies Is enacted subsequent to the date of this Deed of Trust, this event shell have the same effect as an Event of Default, and Lender may exercise any or all of Its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in ths Taxes and Liens section and deposits with Lender cash or a sufficient corporate Surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provision relating to this Deed of Trust as a security agreement are a part of this Deed of Trust Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender, Grantor shall take whatever action Is requested by Lender t6 perfect and continue Lender's security Interest In the Rents and Personal Property. In addition to recording this Deed of Trust In tate real property records, Lender may, et any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement Grantor shall reimburse Lender for all expenses incurred in 858047 01/08/2015 12:50:05 PM Page 4 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST (Continued) Page 4 perfecting or continuing th)e,eect1iity Interest. Upon default, Grantor shall not remove, saver or detach the Personal Property from thePrdpsrry. Upon default, Grantor shall assemble any Persona Property not affixed to the Property.01 a marrer and at a oleos reasonably convenient to Grantor and Lander and make it available m Lender within three (3) days attar receipt of written demand from Lander -to the extent permitted by applicable law. Adder - The mailing addressee of Grantor (debtor) and (ander (secured party) from which Information conte ming the security Interest granted by this Deed at Tarot may be obtained (each as required by the Uniform Commercial Coda). ere ea stated on the - first page oaf this Deed of Truitt FURTHER ASSURANCES; ATrOHNE` 4N -FACT.. The following provisions relating to further assurances and attorney -In -fact ars a part • of this Deed of Trust: Further Aesurencu. At tiny time, and from time to time, upon request of Lender, Grantor will rneka, execute and deliver, or will cause to be made, executed or delhrered, to Lander or to Lender's designee, and when requested by Lender, cause to be filed, recorded, reified, or rerecorded, as the case may be, at sixth times:and in such offices and pieces as Lender may deem appropriate, any and all such mortgages, deteds of trust security deeds, ascurity agreemertta, financing statements; continuation. statements, Inetrumwrta of Ratter assurance, certificates, and other documents as may,. In the sole opinion of Lender, be necessary or-deslrable In order to effectuate, complete, perfect, continue, Or preserve I1) Grantor'soaigatione ruder the Note. •- thla Geed of Trust end the Related Doounente. aid (2) the gene -and security interaato created by this Deed of -Trust as first • and prior lire on the Property, whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lander agrees to the contrary in writing, Grantor shag reimburse Lander for all costa end expenses incurred in connection with the matters referred to In this paragraph. • AttomayirFsct If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and In the name of Grantor end at Grantor's expense. For such purposes, Grantor hereby irrevocably- appoint* Lander se Grantor's . attneyvpurpose rfact for the ppose of making, executing, deinering, fling, recording, and doing all thing.. as may be necessary • or desirable, in Lender's Bola opinion, to ecmmp)ish the matters referred to in the preceding paragraph. RILL PERFORMANCE. Upon the full performance of all the °Mestere under die Note end the Deed of Trust, Trusts may, upon ' production of documents and fees et required under applicable law, release the Deed of Trust Arid such release shell-conadtuts a release of the lien for ell such additions arms and expenditures made pureusot to thio Deed of TrustLender agree' to cooperate. • with Grantor In obtaining such release and releasing ths.odrer coHaterel 'securing the Indebtedness. • Anyrelanaisfeee required by law shall to paid by.Grenter, if pemsitted by applicable law. • EVENTS OF DEFAULT. Each of the following, et Lender's option, shag conetihRe am Event of Default under this Deed of Truett. Payment Default. Grantor fella to make any payment when due under the indebtedness. . Other Defeats. Grantor fails to comply with Or to perform any otter term, obligation, covenant or cond'roon contained In this Deed of Trust or In any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained In any ether agreement between Lender rid Grantor. - Compliance Default Failure to comply with anyother tern, obligation, covenant or condition contained in the Deed of True -titre Note or in any of the Related flocwnente, - Default on Other Payments. Failure of Grantor within the time required by Chia Deed Of Trust to make any payment for texas or insurance, or any other peymenifecgasary to prevent filing of or to effect discharge of any ran. Default In Favor of Third Parties: Should Granter default under pray ban, extension of credit; security agreement purchase or sales agreement or any otter agreement, in favor of any other creditor or person that may materially -affect any of Grantor's property or Grantor's ability torepay the Indebtedness or Griner* abeityto perform Grantor's ob0gedoe. under this Deed of Trust or any of the Related Documars. • _ False Statements, Any wrrarrty, representation or statement made or furnished to Lander by Grentr or on Grantor's. bebelf under this Deed of Trustor the Related Documents is fake or misleading in any materiel re.peot, either now or at the time made - - or fun -Mame or broom* faker or rntaleadkig .et any time thereafter. • • Defective Colaleraltratbw, . This Dead of Trust or any of the Related Documents Gernert to be In foil force and efeot fnuka3ng failure of any collateral document to create a valid and perfected ae urtty interest or lien) at any time rad for any reason • • • Death or nsotvency. The dissolution of Grantor's (regardless of whether election to oontirrue.a made), any. member withdraws from the limited (lability company, or any other termination of Grantor's wdsterwe ae -e going business or the death of any ' member, the insolvency of Grantor, the appolmmerrt of a receiver for any pert of Grantor's property, any saigttment tux the -•. benefit of creditors, any type of creditor workout, or the commencement of any'prooseding under any bankruptcy or Insolvency • laws by or against Grantor. • - Crocker or forfeiture_ Proceedings.Commerteament of foreclosure or forfeiture proceedkge, whether by ludttlal proewing d, self -trip, repossession Or any outer method, by any creditor Of Grantor or by arty governmental penny against any property, scouring the indebtedncoo. This Incl ea a. garnishment of any of Grantor's accounts, Ind uding deposit recounta,. with. Lender. However, this Event of Dear* ewe •ilnot apply If there is 'a good faith -dispute by Grantor as to the -validity or reasonableness of the Beim which Is the base of the coeditor or forfeiture proceeding' and If Grantor Olives Lender written notice of the creditor or • forfeiture pro eeditg and deposits with Lender monies or. a surety bond for the creditor or.forfeiture proceedng, In en amount determined by Lender, in its sole devotlon'fgs being an adegwte recava or bond for dm disputa. Breach of Other Agreement. Any breadh by Gfertor under the terms of any other agreement between Grantor and Lender that a not romodiod within any grace period provided therein, In:ludirg without limitation any agreement concerning rely indebtedness or other obligation of Grantor to Lender, whether existing now or later. Events Affectkte Guarantor. My of the preceding everts occurs with respect to any Guarantor of sun of the Indebtedness or 0810 Guarantor dies or becomes incompetent or revokes or disputes the validity of; or fiabilty -under, any Guaranty of the . Indebtedness. • Adverse Change. A material adverse change occurs In Grantor's financial condition, or Lender believes int pbapect of payment Of performance of t o Indebtedness Is Impaired. •- Ineecudty. gender In good faith believes Itself Insecure. . • ' • Rghtto Curs. If are default -other than adefadt in payment la curable and if Greeter hae'not been given a notice of a breech of the same provision of ttae Deed of Trust within the preceding twelve (121 menthe, It maybe eured.If Grantor, after Lender sends written notice to Grantor demanding cure of such default: (11 cures the default within twenty (20) days; or` (2) If the cure requires more.then twenty (20) days, immediately Irritates steps which Lender deems"In Larder's sole devotion to be euft0lent to cure the default and thereafter continues and completes all reasonable and n0000asry steps sufficient to produce compliance as soon s reasonably poetical. - RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occas under this Deed of Trust, at 'any time thereafter, Trustee or Lander may exercise any one or more of the followt g rights and remedies: • . Election of Remedies. Election by Lender. to puree any remedy shalt not exclude pursuit of any other remedy, and. an election m mate expendforea or to take action to perform an obligation of Grantor soder this Deed. of Trust, after Granter's failure to ' perform, 1081E not affect Lender's right to declare a default end exordia Ib remedies. • - 858047 01/08/2015 12:50:05 PM Page 5 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: S56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST (Continued) Page 5 Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable, IncludIrg any prepayment penalty which Grantor would be required to pay. Foreclosure. Lender shall have the right to cause all or any part of the Real Property, and Pereond Property, if Lender deddee to proceed against It es if It were reel property, to be sold by the Trustee according to the laws of the State of Colorado as respecta foreclosures against real property. The Trustee shall give notice in accordance with the laws of Colorado. The Trustee shall apply the proceeds of the sale in the following order: (a1 to all coats and expenses of the sale, Including but not limited to Trustee's fees, attorneys' fees, and the cost of title evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled to the excess. UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have -all the rights and remedies of a secured party under the Uniform Commercial Coda. Collect Rents. Lender shall have the right, without notice to Grantor to take possession of and manage the Property and collect the Rents, including amounts pest cue and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's ettomey-infect to endorse instruments recelved in payment thereof In the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender In response to Lender's demand shall satisfy the obligations for which the payments ere made. whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent, or through a receiver. Appoint Receiver. Lender shell have the right to have a receiver appointed to take possession of all or any part of the Property, with the power to protect end preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the coat of the receivership, against the Indebtedness. The receiver may serve without bond If permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. Receiver may be appointed by a court of competent jurisdiction upon ex parte application and without notice, notice being expressly waived. Tenancy et Sufferance. If Grantor remains In possession of the Property after the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shell become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property, or (21 vacate the Property immediately upon the demand of Lender. Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or available at law or in equity. Sale of the Property. in exercising its rights and remedies, Lender shall be tree to designate on or before it files a notice of edectlon end demand with the Trustee, that the Trustee sell all or any part of the Property together or separately, In one sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property. Upon any sale of the Property, whether made under a power of sale granted in this Deed of Trust or pursuant to jrudicial proceedings, if the holder of the Note Is a purchaser et such sale, it shall be entitled to use and apply all, or any portion of, the Indebtedness for or in settlement or payment of all, or any portion of, the purchase price of the Property purchased, and, in such cisme, tide Deed of Trust, the Note, and any documents evidencing expenditures secured by this Deed of Trust shall he presented to the person conducting the sale in order that the amount of Indebtedness so used or applied may be credited thereon as having bean paid. Attorneys' Fees: Expanses. If Lender forecloses or institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to recover such sum ea the court may adjudge reasonableasattorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender Incurs that In Lender's opinion ere necessary at arty time far the protection of its Interest or the enforcement of its rights shall become a part of the indebtedness payable on demand and shall bear Interest at the Note rate from the date of the expenditure until repaid. Expenses covered by thio paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees whether or not there Is a laweut, Including ettomeys' fees and expenses for bankruptcy proceedings (Including efforts to modify or vacate any automatic stay or injunction), appeels, and any anticipated post -judgment collection services. the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law. Rights of Trustee. To the extent permitted by applicable law, Trustee shall have all of the rights and duties of Lender as sot forth in this section. NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale shall be given In writing, and shall be effective when actually delivered, when actually received by telefacsimilc (unless otherwise required by law), when deposited with a nationally recognized ovemdght courier, or, If mailed, when deposited in the United States mail, es first class, certified or registered mall postage'prepald, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of any Ilan which has priority over INC Dead of That shell be sent to Lender's addreaa, as shown near the beginning of this Deed of Trust. Any party may change Its address for notices under this .Deed Of Trust by wing formal written notice to the other parties, specifying that the purpose of the notice Is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's currant address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors. FUTURE ADVANCES. In addition to the. Note, this Deed of Trust secures all future advances made by Lender to Grantor whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to Grantor, together with all interest thereon. Grantor presently ensigns to Lender (also known as Beneficiary in this Deed of Trust) all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents front the Property. In addition, Grantor grants to Lender a Unifcrm Commercial Code security interest in the Personal Property and Rents. SIGNING. This document may be executed in counterparts, each of which will be deemed an original but all of which will constitute one and the same document. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a pert of this Deed of Trust •Anwdmerrts. This Deed of Trust, together with any Related Documents, constitutes the entire understanding end agreement of the parties ea to the matters eat forth In this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unleae given in writing end signed by the party or parties sought to be charged or bound by the alteration or amendment. Amami Reports. If the Property la used for purposes other than Grantor's residence, Grantor shalt furnish to Lender, upon request, a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Ler)der shall require. 'Net operating income" shall mean all cash receipts from the Property less all cash expenditures made In connection with the operation of the Property. Caption Headings. Caption headings in this Dead of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust 858047 01/08/2015 12:50:05 PM Page 6 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST - (Contiiued) Page 6 Merger. There •ahafi be no rri isnot the 4rtereat or estate crested by this Deed of Trust with any other interest or einem In the' Property at any time held by os.ffi}:the benefit of Lender in any rapacity, without the written consent of lar der, Governing Law. This Deed of Pit tide be.govrned by federal law applicable to Lender and, to the axes. re not preempted by federal law, the lava of the State of Colorado without regard to Its cordIets of taw provisions. This Deed of Trust has been accepted by Lender In the Stan of Colorado:.: No Weaver by Lender. Lender shall not be deemed to have waived arty rights under thea Deed of Trust unless such -waiver is given in writing and signed by Lender.• No delay or omission' on the pert of Lender In exerolsine any right shell operate as a waiver of such right or Any other right.' A weiver.by Linder of a provelon of this Dried 01 Trust shall not preiudlcp.or constit'utn a waiver of Lender's right otherelse to demand strict compliance with that provision or any other provision of this Deed of Tnst. No prior waiver by Lender, nor any course of dealing, between Lender and Grantor, shall conadaae a waiver 01 arty o1 Lender's rights or of any of Grantor's obligations es to any future transactions. Whenever the cement of Lender is required under -this Deed of Trust, the granting of such consent by Lender h any.inatanoe shed not constitute continuing consent to eubsequent Instances where such cornets is required end In ell eases Auch consent may be granted or withheld in the sola discretion of . Lander. Sswrobi9ty. If a court of competentJubdledan finds any provision of this Deed of Trust to be !!legal. Invade!, or unonforcaabte as to any circumstance, that finding shall not make the cffending provision illegal, irwalid, cr unenforceable sa to any other circumstance. if feasible, the offend provisiop shall be considered modified so that It becomes legal, void and enforceable. If the offending provision cannot be so modified. it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the lllegaUty, Invalidity, or unenforceability of any provision of this Deed of Trust snail not affect the legality, validhy-or enforceability of any other provision of this Dead of Trust. Successors rd Assigns. Subject to any imitations stated in this Deed of Trust on transfer of Grantor', Interest this Deed of True( 'shall be birdbrg upon and Inure le the benefit of the parties, their successors and assigns. !f ownefehlp of the Property becomes vested in a person other then Grantor,. lender, without notice to Granter, may deal with Grantor's successors with •refersnce to this Deed of Trust and the Indebtedness by way of forbearance 'or extension without releasing Granter from the - obligations of this Deed of Trent or liability under the indebtedness. • Tinsels of the ryaenw. Time is of the essence in the performance of this Deed of That. . Wales Jury. All perpes to this Deedef Tnrst hereby waive the right terry Jury btaf in any action, proceeding, or counterclaim brought by dry party against any other party. . - Welver of Homaeteed Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of • the Stets of Gatorade as to all indebtedness secured by this Deed of Trust. DEFINITIONS. The fouowlrg capitalized wards and terms shad have the following meanings when used M true Deed of Trust Unless specifically elated to the contrary, all references to dollar emourrts shall mean amounts In lawful money of the United Staters of • America. Words and -terms used In the singular ghee Induce the plural, and the plural shall Include the singular, as the context may require. Words. and team not otherwise defined In this Deed of Trust shell have the meanings attributed to such terms In the Uniform Commercial Code: .. . Beneficiary. The word "Beneficiary' means Bank of Colorado, and ice successors and assigns. Borroe,er. The word 'Borrower' means Southern Puna, LLC and I nce:das alt cosigners end co -makers signing the Note and ell their successors and assigns. Deed of Trust. Tisa words 'Deed of Test' mean this Deed of Trust among Grantor, Lender, end Truatsa, and Includes without limitation ell assignment and security interest provision relating to the Persona; -Property and Rents. Default. •The word 'Default' means the Default set forth in 00010.00 of Trust in the. section i1000 Default". Environmental Laws. The words •Environmental Laws- mean arty anti al rate, federal and local statutes, regulations and 'ordinances relating to the protection of human health or the environment, Including .without. imitation the Cornprehenerm Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Settlor 9801, lax seq. (eCERCLA"), the Superfund Amendnente and Reauthorization Act of 1986, Pub. L. No..99-499 ('SARA'), the Hazardous Metedeis Transportation Act, .49 U.S.C. Section 1801; et seq., the Resourc•Comervelion and Recovery Act, 42 U.S.C.'Sectien 8901; et seq., or other applicable stets or Cadre, laws, rues, or regulations adopted puretsnt thereto. . • Event of Default. The words 'Event of Detach" mean any of the events of default sat forth In thio Deed of Trust in the events of default section of this Dead of Trust , Gistter. The word 'Grantor' mems Southern Puma, LLC. • Gum' ranter. The word 'Guuantor'.' means any guarantor, surety, or accommodation party of any or all of the Indebtedness. Guaranty. The word 'Guaranty means the guaranty from Guarentor .to Lender, including without llmitatkin'a guaranty of all or - part of the Note. - ifsesrdous Substances. The words 'Hazareous Substances' mean materials that. became of the quantity, concentration or • 'physical, chemical or Infectious cheraoteriatica; may cause or pose a present or potential hazard to human. health or the environment when Improperly used treated, stored, disposed of, generated, manufactured, tranported or otherwise handled. The words 'Hazardous Substances' are used fn their very breeder sense end include without Limitation any and all hazardous or toxic substances, materials or welts as defined by or fisted under the ltnvirorxnentd Lswa. The temm.'Nezrdoua Substances' • abo includes, without ILMtatfon, petroleum and petroleum by-product, or amj fraction thereof and asbestos, Improvements. .The word 'Impruvemens' means all ex'stng"and future improvements, buildings, structures. moSie tomes affixed on the Reel property, facilities, additions, replacements acrd other construction on the Real Property. • indebtedness. The word 'Indebtedness" mean all principal, intense, and other arncuno, costa and expertass payable -oder the Note or Related Documents, together with ell renewals of, extension of, modification) of, corradldadors of and substitutions for the Note or Related Documents and any amounts expended or advanced by Leder tecescherge Grantor's obligations or expenses incurred by Trustee or Lander to enforce Grentpr's obligations under thla Deed of Treat together with Interest oh such amo..urts as provided In thle Deed of Trust • Loader. The word 'Lender' means Bank of Colorado, its successcrs and resigns. Nos. The wont 'Note' means the promleaoy•rrote deted December 22, 2014, in the original principal arttount of 8600,000.00 from Grsrtor to Lander, together with all renewals of, extension of, modifications 01, refinerangs of, consolidations. of, and eubethutbrs.for the promissory mote or agreement. Thu maturity rate of the Note is December 22; 2015. NOTICE TO GRANTOR: THE NOTE CONTAINS A VAfitARLE INTEREST RATE. Personal Property. The words 'Pereonai Property' mean all equipment, flxbrss, and other ardciee of personal property now or hereafter owned by Grantor, end now or hereafter attached or affixed to the Real Property; togethr.wfth all accessions, parts, end eddltiona to, all replacements of, and ad substitutione tor. any of such property; and together with el proceeds [including • without limitation all insurance proceeds and refunds of premiums) from any ode or other dbpos1d n of the Property.. - Properly. The word.'Property' riteans collecthely the Reel Property' and the Pommel Property. • • 858047 01/08/2015 12:50:05 PM Page 7 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST (Continued) Page 7 Real Property. The words "Real Property' mean the real property, interests and rights, as further described In this Deed of Trust. Related Documents. The words 'Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgagee, deeds of trust, security deeds, collateral mortgagee, and all other instruments, agreements and documents, whether now or hereafter existing. executed in connection with the Indebtedness. Rents. The word 'Rents' means all present and future rents, revenues, Income, Issues, royalties, profits, and other benefits derived from the Property. GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST. AND GRANTOR AGREES TO ITS TERMS. GRANTOR: SOUTHERN PUMA, LLC By: By: By: Berl#amin D. Bailey, Manager of Southern Puma, LLC Jeffery J. Clayton. , `. Puma. of Southern Puma, LLG Pume, LLC By: Wales R. Whitaker •UI. Manager of Southern Puma. LLC � LIMITED LIABILITY COMPANY ACKNOWLEDGMENT STATE OFV!ALn .-xT COUNTY OF L•Gu L } On this day of„<—A---t–r"--- 20 1 before me, the undersigned Notary Public, personally appe a Ra11@pahfDjysl�rcf r nd Water R. Ryan W. Ivy, Manager of Southern Puma, LLC �r --and Walter R. Whitaker 111. Manager of Southern Punta. LLC. end known to me to be members or designated agents of the limited [lability company that executed the Deed of Trust and acknowledged the Deed of Trust to be tha free and voluntary act and deed of the limited liability company, by authority of statute, Its = . es of organization or Its operating agreement, for the uses and purposes therein mentioned, and on oath stated that they =eau -• to execute this Deed of st and in fact executed the Deed of Tri f •■i !• ftr co/sipany. e a it end for tate State of e • 4.3, ; ornmisslon Expkss vc.•n:mr 21 , X815 ' LaserPro, Ver. 14.4.10.012 Copr. D+H USA Corporation 1997, 2014. All Rights Reserved. - CO L:\CF11LPL\G01.FC TR -98261 PR -149 858047 01/08/2015 12:50:05 PM Page 8 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST (Continued) IWO From*. no sorts "Meal Propene' nem Mr mai onion y. hsursst% and noble, as runner demand to inn Mrd ofTrust NolaEnd Docum.iRs. The words 'Ralntod Occatmonf moo ail promIsaery none, omit ageomor b. lean oyraanwnto. wMrorsiofr�ia.l..a��gra�.��m.sl1s. gumanuos, saway mends. mortPasc. diads o1Iron. sworn awns. collatawf =Mans. and 81 other 4RVYwc..o, apresm.nm and diGeaeraa. Whether novo or hs, .r ask ._ encored h commons vont the Inasbtadnors. ends. Tae Vont 'bulls' anis all wenn and bate rens. osmoses. taming, nem, ravines. Wan. aid Wier Warta dsdrvd Aeon 11s Properly. GRANTOR ACKNOWLICOOO5 HAVI READ ALL 1 FRDyalOti3 OF -nes DMDF TRUST: Mg GNAT= AGMs TTY ITO Tann. =A UR ap moon W. Ny, suml.r er Stoelb.rniOn+ruL ltr Dram= C. ictay. anter at 5outhera Nina, 1.1.O Oft Wolter R.1MafeYarfl6 Msaalgsr s $$dinar Pont LLC LIIiETED LIABILITY COMPANY ACKNOWLEDGMENT OTATB OF COUNTY OF 0. (ICI( deux 04.00401 v1 ?O 1 q . bens mg, On underplayed Mande Plana. oilm taaxsasr et wad ant Prem& LL Mallory .L Gaplemt, Mawitimam Puha LLG Ryan . Macnpa sr as Omani FaasR Litt Oman= C. MinnMnwtwr of Hw. enan Pa tLC, ono Yet R. Venom 11. btaln■1w of Pomo. Union loom lit ow 10 tie natation 9r denarJat.d ovens in in IMMMO Magi eirrin5Y t#+st beenled tris Diad Of and scinvassowid rte Dowd of Twat to tag Um troeand vebnlsy set nae dont of no united fabRL' company. by auanrNy al kF ar{fde of organisation or Its Aapncoiaa oiroornont, ran no ono 4 t)votiPna rwwIn mentioned, and on win nodi tam are aulme¢ad la smut. oda third of Tare) Onto pet oteaelnithe Dns 01 TrtrR on Wiwi OMIT 1a in ownpay. otralonot 1q1amaelawiI-. MI Si 19111 == =.1" V r.1" .-46.63reear. 13414 USA bowsaw ;MP. 2614 All R>ghts Reserved. - CO LiCFN villaC1.FC TRAa2f1 PR.14g 858047 01/08/2015 12:50:05 PM Page 9 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEM OF TRUST (Continued) Pole 7 Rag Poiralty. The %votes 'Reel Property mart- the teal property. leastests aim lights, al liallset tleasabOd ki this Deed -of Trust. Rota*. Soosoustits. The wools 'MAWS Cb*UrfOlite roam4 prrilisqry sobs. ..;redlt agsameS4s, 100.1 tSTAIrAwnsiEta aStOkurtilits.4):ArtoPttF• 1.0g4r1:Y altrserneedS. markilitelz Bstolf0.1".4.41- ikaPeOBV 'SEW 0310!6"11110417499.9- And all other liwkurrosnts: otavaments aria 'claimer* whether.- now or hirselisr satiEtta, executed tonna wiEt..tha. Indebtadnass. Rs**. Tits word "Rents' Insane as Inbar* end mum molts. rissinttes. Isionbe. lemmas. 8i�. Osieli. sag paw 'Meats diedtited ttedr..pat ORANTOR Acktiovoi,taattil HAvlic RE* ALL INC srtovistopit OF TiUS DEED OFT*LIEIL ANBAIBABrOlk ABRIEBB:79. BB TERN& ORANISIFt .$01.411ERS PUMA.1.LC BY: 00010114 D.MAY, Nanatactit a/Mara Punta, LW BY: JaSary J. Ebyton, Wows, orEoulbsera Poen, tie try. Manager of Safb C. lackey. &toolbar of 1,41001 Whitliktf 1141 •110aftlairrat limothwn Pune.= STATE OP COUkrf OP ,161) UMITED UAB1LITY COMPANY ACKNOWLEDGMENT 14g } },31. 06 . flibrA 01/aff.'• flrli414..fn( •40 • isliwina:Itst anlilialila*farSitaali. . . Sotio061y OPO011rld ma, LLC Jetetr Emma* savois.APuUZ, Ry*i :4Southorii Puati;.1.1.Saliatiasti.C. Sictitiav,Eitatlat 01,54aProtkot WisiOvat NO -11. MIMS WV lioishon . ASAkoctAntraillb•riv".4o-40.trogrbaftw (1,19n•Le0. 2•p» di rhoVitOtitd.timitMr Gornto', .d.le!ittpcolid Owe Bait oi Ttust.aatl Itta.Paist.of Una to bo Goo awl& VolOnally De I Mal dowid el ilya _asaioaoy; Waunty atraaa; Its stades oraastesdott or its way atmatizod to 41uto thea Itymtd of T BY tiffr ire ji,r,s6ki NoV Pah% In and for OW **We 10151 .40,JEiVio a,•,••• • - 101 ifft.1131**11%1 mimes therein ontaloold., aneT art emit gated that ormatottl-tho Diva oiTrust twist olMlWO Esatity Ridding 1..05 PR -149 858047 01/08/2015 12:50:05 PM Page 10 of 10 Jean Alberico, Garfield County, Colorado Rec Fee: $56.00 Doc Fee: $0.00 eRecorded DEED OF TRUST (Continued) Page 7 Reel Property. The words' Rut Property' man the real property, intimate and rights, as further dawned in this Deed of TrusL Related U.cum.nts. The words "Waled Documents' mega all promissory notes, credit agreements. ben agwemutt.. enrrkohnonut agreements. guanines& security agreement, mortgegaa, deeds entrust, seaaiyr deeds, collidenM reorlpegas. mai ell other ttstrltlnente. agreements and documents, whether now or hereafter .odstEng, eaeofad in oorne ton With s5b Indebt.dmee6. Reale. The word "Rends" means al present and Uwe rents. revenues, Income. WSW.. Mallet, pralte. end other benerfte derived born the Property. GRANTOR ACKNOWLEDGES HAVING READ ALL THE PRDVI91010 OF Tits DEED OF TRUST, AND GRA1lTDR ADS TO ITS TERMS. GRANTOR: SCtrillEiN PUMA. LLC Ryan W. Ivy. Manager of Southern Punta. LIC Brannon C. McKay, Moenb.r of Southern Puma. LLC Qy' r htaker nt, utag.r sm. 9TAIE EDF 1 Z!1ri LIMITED LIABILITY COMPANY ACKNOWLEDGMENT tCUerrrOF P`-!/ $ On this Co day of ne--.. 7' 20 %Y benne ma. the undersigned Notary Public. P ersona Iy appeared Berja rte D. alley, Manger of Southern Puma. LLC; Jeffery J. Clayton. Menses of Soudan* Porus, ILC; Ryan W. toy, Meow of Souuem Puma, LLC Brennen C. McKey, Member of $oeAAmn run" I= end Wolter R. Errlh.M.r WWl. umallet at Southern Pieria. LLA. and known to are to bo members or deeigneled agents of Me limbed lability company treat eretsded ttre Coed of Trust and seitnewl.dged the Deed of Truitt to bs Ma two and voluntary ad and deed o1 the limited Dna ty company. by authority of statute. Ie urbane of orprntsatton or Its opece*Io agreement, for the urea and purposes therein mentioned. and ort oath staled ileal they are authorized to macula this Deed of Tact end lin tact executed the Deed of Trust on bales of tths limited liability company. OY 0" c4— Rom" at law` k Or 17:e.r cit Notary Pug la sem ran It* sate of T-rrr. c My amend= aspires ,. p4 ("/- f Z451) LescePro, Ver. 14.4.tic.o12 Copr. 0,11 USA COrPOgpon 1997, 2014. Al rights Reserved. - CO L:CFALPL\GiO1.FC TR -98281 PR -149