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RESOLUTION 26-95
00RESOLUTION26-95WHEREAS,byOrdinanceNo.19-95,theBoardofTrusteesoftheTowiiofEstesParkhastransferredcertainrealproperty,thelegaldescriptionofwhichissetforthonExhibit“A”attachedheretoandincorporatedhereinbyreferencetotheEstesParkHousingAuthorityforthepurposesofprovidingrealpropertyfortheLoneTreeApartmentaffordablehousingproject;andWHEREAS,theEstesParkHousingAuthorityhassecuredaloancommitmentfromMercyHousing,Inc.,forthepurposeofprovidingpre-developmentcostsassociatedwiththedevelopmentoftheLoneTreeApartmentproject;andWHEREAS,arequirementofsaidfinancingistheexecutionofaPromissoryNoteandDeedofTrust,copiesofwhichareattachedheretoasExhibit“B”andincorporatedhereinbyreference;andWHEREAS,Section29-4-217(1(b)C.R.S.,requiresthattheconsentoftheTownofEstesParkisnecessaryfortheEstesParkHousingAuthoritytoexecutetheDeedofTrustsetforthonExhibitNOWTHEREFORE,BEITRESOLVEDbytheBoardofTrusteesoftheTownofEstesPark,Colorado:Section1.TheBoardofTrusteesherebyconsentstotheexecutionofthePromissoryNoteandDeedofTrustbytheEstesParkHousingAuthorityforthepurposeofsecuringfinancingforthepre-developmentcostsoftheLoneTreeApartmentproject.Section2.TheBoardofTrusteesherebyauthorizestheappropriateofficialsoftheTownofEstesParktoexecuteanydocumentsnecessarytoeffectuatetheclosingofthefinancingof$150,000.00forpre-developmentcostsbytheEstesParkHousingAuthorityfromMercyHousing,Inc.PASSEDMiDADOPTEDThIS12thDAYOFSEPTEMBER,1995.TOWNOFESTESPARK,COLORADOMayorATTEST:ta{LTownClerk EXHIBIT“A”LEGALDESCRIPTIONAtractoflandlocatedintheSE1/4ofSection30,Townshi)5North,Range72Westofthe6thP.11.,LarimerCounty,ColoradobeingmoreparticularlydescribedascommencingattheCl/6cornerofsaidSection30,asmonumentedbyaTownofEstesParkbrassCfll)andwithallbearingscontainedhereinbeingrelativetotheNorthlineofsaidSE1/6consideredasbearingSouth89degrees11minutes00secondsEast;thenceSouth89degrees11minutes00secondsEastadistanceof1,297.18feetalon9saidNorthlinetotheNEcorneroftheWl/2ofthe5111/4ofsaidSection30;thenceSouth00degrees00minutes21secondsWestadistanceof640.55feetalongtheEastlineoftheW1/2ofthe5111(4ofsaidSection30totheTruePointofBeginning;thenceSouth00degrees00minutes21secondsWestadistanceof411.31feetalongsaidEastlinetoapointontheNorthright—of—waylineofGravesAvenue;thenceWestadistanceof404.45feettotheSoutheastcornerofDcyuleSubdivision;thenceNorthadistanceof619.19feetalongtheEastlineofDoyuleSubdivisiontotheSoutherlyright—of—waylineofManfordAvenue;thenceSouth62degrees48minutes00secondsEastadistanceof454.78feetalongsaidSoutherlyright—of—waylinetotheTruePointofBeginning.CountyofLariiner,StateofColorado. 0EXHIBIT“B”PROMISSORYNOTE$150,000.00___________________,1995Denver,ColoradoFORVALUERECEIVED,thereceiptofwhichisherebyacknowledged,theundersigned(“Maker”)promisestopaytoMERCYHOUSING,INC.,aNebraskanot-for-profitcorporation(“Holder’),atitsofficesatFifthFloor,1601Milwaukee,Denver,Colorado80206,oratsuchotherplaceasHoldermayfromtimetotimedesignateinwriting,theprincipalsumofONEHUNDREDFIFTYTHOUSANDDOLLARS($150,000.00),orsuchlesseramountasmaybeadvancedbyHolder,andtopayinterestontheamountadvancedofthisNotefromthedatehereoftomaturityattheannualrateofsixpercent(6.0%)(the“LoanRate”),payableinlawfulmoneyoftheUnitedStatesofAmerica.Interestshallbecomputedonthebasisofa360-dayyearoftwelve30-daymonths.Theunpaidbalanceofprincipalandaccruedinterestfortheperiodcommencingwiththedatesetforthaboveshallbedueandpayableon_______________________,1995(“MaturityDate”).MakershallhavetherighttoprepayalloranypartoftheprincipaloutstandingonthisNote.Allprepaymentsshallbecredited,first,tointerestaccruedtothedateofprepaymentand,next,totheprincipaloutstandingonthisNote.Notwithstandinganypartialprepaymentpursuanthereto,MakershallpayanyremainingprincipalandinterestonthisNoteontheMaturityDate.InnoeventshallanypaymentofinterestoranyothersumpayablehereunderexceedthemaximumamountpermittedbyapplicabLelaw.IfitisestabLishedthatanypaymentexceedinglawfullimitshasbeenreceived,Holderwillrefundsuchexcessor,atitsoption,credittheexcessamounttodieprincipalduehereunder,butsuchpaymentsshallnotaffecttheobligationtomakethepaymentrequiredherein.Intheeventthatsuitisbroughthereon,oranattorneyisemployedorexpensesareincurredtocompelthepaymentofthisNoteoranyportionoftheindebtednessevidencedhereby,Makeragreestopayallexpensesandattorneys’feesincurredbyHolder.MakerandallendorsersandallpersonsliableortobecomeliableonthisNote,andeachofthem,herebywaivediligence,demands,presentationforpayment,noticeofnonpayment,protestandnoticeofprotest,andspecificallyconsenttoandwaivenoticeofanyrenewalsorextensionsofthisNote,oranymodificationorreleaseofsecurityforthisNote,whethermadetoorinfavorofMakeroranyotherpersonorpersons,andfurtheragreethatanysuchactionbyHoldershallnotaffecttheliabilityofMakeroranypersonliableortobecomeliableonthisNote.IfanypaymentdueunderthisNote,oranypartthereof,oranyinterestthereonisnotpaidwithinten(10)daysfromthedatewhendue,oradefaultotherwiseoccursunderthetermsofthisNote,attheoptionofHolder,withoutnotice,timebeingoftheessencehereof,saidNoteshallbearinterestfromthedateofsuchdefaultuntilpaidattheLoanRateplusfivepercent(5.0%).TIieproceedsofthisNoteshallbeusedbyMakerexclusivelyinconnectionwiththepredevelopmentcostsassociatedwiththedevelopmentoftheprojecttobeknownasLoneTreeApartmentslocatedat1310ManfordAve.inEstesPark,LarimerCounty,Colorado(“theProject”);providedfurtherthatthemakingoftheLoanshallsupport(lieborrower’scharitablepurposes,toalleviatepovertyand/orcombatcommunitydeteriorationinfurtheranceofitscharitableprogramsandtheexemptpurposesofBorrowerandLenderdescribedinSectionsl70(c)(2)(B)and501(c)(3)oftheInternalRevenueCode,andnotforpersonal,familyorhouseholdpurposes.NodelayoromissionbyHolderinexercisinganyremedy,rightoroptionunderthis 0Noteshalloperateasawaiverofsuchremedy,rightoroption.Inanyevent,awaiveroranyoneoccasionshallnotbeconstruedasawaiverorbartoanysuchremedy,rightoroptiononafutureoccasion.Theinvalidityofanyoneormorecovenants,phrases,clauses,sentencesorparagraphsofthisNoteshallnotaffecttheremainingportionshereof,andthisNoteshallbeconstruedasifsuchinvalidcovenants,phrases,clauses,sentencesorparagraphs,ifany,hadnotbeenincludedherein.ThisNote,withinterest,issecuredbythatcertainDeedofTrust,AssignmentofRentsandPledgeandSecurityAgreementofevendateherewith,executedbyMakerforthebenefitofHolder(‘DeedofTrust”)coveringcertainrealpropertylocatedintheTownofEstesPark,LarimerCounty,Colorado,andthisNoteandsaidDeedofTrustaretobeconstruedinallrespectsandenforcedaccordingtothelawsoftheStateofColorado.AdefaultunderthetermsoftheDeedofTrustoranyotherinstrumentsecuringthisNoteshallconstituteadefaultunderthisNote.ThisNotemaynotbeamendedormodifiedexceptbyawrittenagreementdulyexecutedbyMakerandHolder.ThisNoteandtheobligationscreatedherebyshallbindMakerand,totheextentapplicable,itssuccessorsandassigns,andthebenefitshereofshallinuretoHolderanditssuccessorsandassigns.AnynoticetoMakerunderthisNoteshallbeinwritingandshallbedeemedtohavebeengivenupon(i)receipt,ifhanddelivered,(ii)transmission,ifdeliveredbyfacsimiletransmission,(iii)thenextbusinessdny,ifdeliveredbyexpressovernightdeliveryserviceor(iv)thethirdbusinessdayfollowingthedayofdepositofsuchnoticeinU.S.certifiedmail,returnreceiptrequestedtothefollowingaddress(orfacsimilenumber,asapplicable):EstesParkHousingAuthorityP.O.Box1200170MacGregorAve.EstesPark,CO80517Attention:RichardWidmerTelephone:(970)586-5331Facsimile:(970)586-6909MakerhasexecutedanddeliveredthisNoteasofthedatefirstsetforthabove.ESTESPARKHOUSINGAUTHORITY,aColoradohousingauthorityBy________PrintedNameTitle 0CEXHIBIT“B”DEEDOFTRUSTTOPUBLICTRUSTEE,SECURITYAGREEMENTANDFINANCINGSTATEMENT(Colorado)1.Grantor:EstesParkHousingAuthorityP.O.Box1200170MacGregorAve.EstesPark,CO805172.Beneficiary:MercyHousing,Inc.doMercyLoanFund1601MilwaukeeSt.,FifthFloorDenver,CO802063.Trustee:ThePublicTrusteeofLarimerCounty,Colorado4.Property:TherealpropertylocatedinLarimerCounty,ColoradoanddescribedonExhibitBattachedhereto,togetherwithallbuildings,improvements,fixtures,easements,minerals,crops,landscapingfeatures,water,ditch,reservoir,wellorspringrights,groundwaterrights,rents,issuesandprofits,condemnationsawardsandinsuranceproceeds,howeverevidenced,andallappurtenancesuppertainingtoorusedinconnectionwiththerealproperty.5.Obligations:(a)TheindebtednessevidencedandcreatedbythePromissoryNote(the‘Note”),dated_________________,1995fromEstesParkHousingAuthority,aColoradohousingauthority,validlyexistingpursuanttoC.R.S.§294-201etseq.,intheamountofS150,000,payabletotheorderofBeneficiaryonorbefore________________,1995,andallrenewals,extensions,modifications,amendmentsandrestatemenisthereofandsubstitutionstherefor;and(b)allotherindebtednessdueundertheNote,thisDeedofTrustandanyotherdocument,instrumentoragreementevidencing,securingorgoverningtheloanevidencedbytheNote(theNote,thisDeedofTrustandallsuchotherdocuments,instrumentsandagreementsarehereinaftercollectivelyreferredtoasthe“LoanDocuments”).6.Grant.AssecurityfortheObligations,Grantorherebygrants,bargains,sells,mortgagesandconveysthePropertytoTrusteeintrustwiththepowerofsalefortheuseandbenefitofBeneficiary.AsadditionalsecurityfortheObligations,GrantorherebygrantsBeneficiaryasecurityinterestinallpersonalpropertyandfixturesnoworhereafterlocateduponorusedinconnectionwiththeProperty,including,withoutlimitation,thepersonalproperty,fixturesandothercollateral(collectively,the“Collateral”)describedinExhibitA,attachedheretoandincorporatedhereinbythisreference.ThisDeedofTrustconstitutesasecurityagreementundertheUniformCommercialCodeineffectintheStateofColorado(the“Code’).7.Representations.GrantorwarrantsthetitletothePropertyandtheCollateralsubjectonlytoliensforrealpropertytaxesandassessmentsnotcurrentlydueandpayableandothermattersshownbythepublicrecord.GrantorwarrantsthatnofinancingstatementcoveringanyoftheProperty,theCollateraloranyproceedsofthePropertyortheCollateralhasbeenfiledinapublicofficeexceptasshownonanyattachment 00hereto.GrantorwarrantsthatthepersonsigningthisDeedofTrustonbehalfofGrantorhasbeenfullyandproperlyauthorizedtodosoandthatthisDeedofTrustconstitutesthevalid,bindingandenforceableobligationofGrantor.8.CovenantsofGrantor.Grantorcovenantsandagrees:(a)topayandsatisfyalttheObligationsonorbeforethedatetheObligationsaredueandtocomplywithandperformaccordingtotheirtermsallofthecovenantsandagreementscontainedinthisDeedofTrust,theNoteandanyotherLoanDocuments;(b)topayandsatisfywhendueallgeneralandspecialtaxesandgeneralandspecialassessmentsandotherclaimsorencumbrancesinconnectionwithoraffectingthePropertyand/ortheCollateral;(c)toobtainandmaintainatalltimespoliciesofinsuranceinanamountequaltothefullreplacementcostoftheCollateralandallimprovementsontheProperty,insuringagainstallriskofloss,damage,destruction,theftoranyothercasualty,andsuchotherhazardorsimilarinsuranceasBeneficiarymayreasonablyrequire,andtoobtainandmaintaincomprehensivegeneralliabilityinsurancecoveringthePropertyandGrantorintheamountofatleast$500,000,alloftheforegoingwithsuchpolicyprovisionsandwithsuchcompaniesasmaybereasonablyapprovedbyBeneficiary,withBeneficiarynamedasalosspayee(withrespecttopropertyinsurance)andasanadditionalinsured(withrespecttoliabilityinsurance)andprovidingthatanysuchpolicywillnotbecancelledwithout30days’priorwrittennoticefromtheinsurertoBeneficiary,andtoassignanddeliveroriginalorcertifiedcopiesofallpoliciesofinsurancetoBeneficiary,(d)tokeeptheCollateral,thePropertyandanyimprovementswhichmayatanytimebeonthePropertyingoodconditionandrepairandnottocommitorsufferanymaterialwaste;(e)nottocommitorsufferdestructionorremovalofalloranymaterialpartofthePropertyand/ortheCollateralwithoutthepriorwrittenconsentofBeneficiary;(0nottoassigntherentsorincomefromthePropertyexcepttoBeneficiary;(g)tocomplywithapplicableinsurancepolicyprovisionsandalllaws,ordinances,rulesandregulationsofgovernmentalauthoritiesgoverningorapplicabletothePropertyoritsuse;(h)keepthePropertyandtheCollateralfreeandclearofallmaterialliens,judgmentsorotherencumbrances;(i)toappearinanddefendanyactionorproceedingpurportingtoaffectthePropertyand/ortheCollateral;(])thatallawardsandproceedsreceivedinconnectionwiththecondemnationoforinjuryordamagetothePropertyand/ortheCollateraloramountsreceivedinlieuofsuchawardsorproceedsshallbepaidtoBeneficiaryandshallbeappliedbyBeneficiaryfirsttocostsandexpenses,includingattorneys’fees,incurredbyBeneficiaryinconnectionwithsuchawardsorproceedsandthentothepaymentor,inthediscretionofBeneficiary,prepaymentoftheObligationswiththesurplus,ifany,tobepaidtoGrantor.9.EnvironmentalCovenant.(a)TothebestofGrantor’sknowledgetheuseofthePropertywillnotresultinContaminationorthreatenedContamination.(b)Grantoragreestodefend,indemnifyandholdharmlessBeneficiaryfor,from,andagainst,andtoreimburseBeneficiarywithrespecttoanyandallclaims,actions,costsandexpenseswhatsoever(including,withoutlimitation,attorney’sfeesandexpensesandcostsreasonablyincurred),knownorunknown,assertedagainstorincurredbyBeneficiaryatanytimebyreasonoforarisingoutoforrelatingtoanyactualorallegedviolationofanyexistingorfutureenvironmentallaworregulationthereunderoractualorthreatenedContaminationonorundertheProperty,whetherornotsuchContaminationwasinviolationofanyenvironmentalstatuteorregulationthereunder.ThisindemnityshalllastindefinitelyandisspecificallyintendedtosurvivethereleaseofthisDeedofTrust.(c)ThetermContaminationorContaminatedshallmeanthepresenceofsolidorhazardouswaste,hazardoussubstances,pollutantsorcontaminants,petroleum,toxicorhazardousconstituents,orsimilarmaterials,assuchtermsaredefinedunderanyfederalorstateorlocalstatute,whethercurrentlyorsubsequentlyenacted,orregulationthereunderorundercommonlaw.10.Transfer.IfGrantorshalllease,sell,contracttosellorotherwisetransferalloranypanofeithertheProperty,theCollateralorbothwithoutthepriorwrittenconsentofBeneficiary,allObligationsshallbeimmediatelydueandpayableattheelectionoftheBeneficiary.Beneficiary’mayrequirethetransfereetoassumetheObligationsasaconditiontoitsconsenttothetransferandimposeanyotherconditionspermittedbylaw.GrantormaytransferalloranypartofeithertheProperty,theCollateralorboth,withoutthepriorwrittenconsentoftheBeneficiarytoalimitedpartnershipinwhichtheGrantororanyaffiliateoftheGrantoris2 00alimitedpartner,providedthatthelimitedpartnershipassumestheobligationsassetforthinParagraph5herein-11.EventsofDefault.Theoccurrenceofanyofthefollowingshallconstitutean‘eventofdefault”hereunder:(a)failuretopayanyoftheObligationswhendue;(b)failuretoperformorobserveanyothercovenant,agreement,dutyorobligationcontainedinthisDeedofTrust,theNoteoranyoftheotherLoanDocuments;(c)anywarranty,representationorstatementofGrantorinthisDeedofTrust,orotherwisemadeorfurnishedtoBeneficiarybyoronbehalfofGrantor,provestohavebeenfalseinanymaterialrespectwhenmadeorftndshed;(d)deathof,dissolutionof,terminationoftheexistenceof,insolvencyof,businessfailureof,appointmentofareceiverforanypanofthepropertyof,assignmentforthebenefitorcreditorsby,orthecommencementofanyproceedingunderanybankmptcyorinsolvencylaw’sbyoragainstGrantororanyguarantoroftheObligations.IfthisDeedofTrustisgiventosecuretheObligationsofapersonotherthanGrantor,anadditionaleventofdefaultshallbethehappeningofanyoftheaboveeventsorconditionsto,byorwithrespecttosuchotherperson.12.RemediesUponDefault.Upontheoccurrenceofanyeventofdefault,Beneficiaryshallhavethefollowingrightsandremedieswhichshallbecumulativeandwhichmaybeexercisedwithorwithoutnotice,andwhichmaybeexercisedseparately,independentlyorconcurrentlyandmorethanonceandinanyorder,andwithoutanyelectionofremediestobedeemedmade,andwithoutaffectingtherightofBeneficiarytoexerciseanyotherremedyhereunderorwhichBeneficiarymayhaveinlaw,andwithoutregardtootherremediesthen,theretoforeorthereafterpursuedorbeingpursued:(a)todeclareanyora]loftheObligationsimmediatelydueandpayable;(b)totakeimmediatepossession,managementandcontrolofthePropertyandtolease,operate,repairandmaintainthesameattheexpenseofGrantorandtoperformsuchactsthereonorinconnectiontherewithasBeneficiarymaydeemnecessaryordesirable;(c)tocollectandreceiveanyandallrents,issuesandprofitsfromthePropertyandtoapplythesametotheObligationsortotherepairormaintenanceoftheProperty,orboth;(d)toapplyforandobtain,expaneandwithoutnotice,theappointmentofareceiverforthePropertyoroftherents,issuesandprofitsthereof,orboth,andtohavesuchreceiversappointedasamatterofrightwithoutregardtothesolvencyofanypersonortheadequacyofanysecurityortheexistenceofwastewithGrantorherebyspecificallywaivinganyrighttoanyhearingornoticeofhearingpriortotheappointmentofareceiver,andtohavesumsreceivedbysuchreceivers,afterdeductingandpayingcostsandexpensesofsuchreceiverships,includingattorneys’feesofBeneficiary,appliedtotheObligationsinsuchmannerandorderasBeneficiarymayrequest;(e)toforeclosethisDeedofTrustthroughtheTrusteeorthroughthecourtsastheBeneficiarymaydesireandtobecomethepurchaserofthePropertyatanyforeclosuresale;(I)withrespecttoanyportionoftheCollateralsubjecttotheCode,BeneficiaryshallhavetheremediesofasecuredpartyundertheCode,including,withoutlimitation,therightstoimmediateandexclusivepossessionoftheCollateraloranypanthereof;(g)tocleanupContaminationattheexpenseofGrantor.IfforeclosureismadethroughtheTrustee,suchforeclosureshallbeconductedinthemannerprovidedbythelawsoftheStateofColorado.TheproceedsofanyforeclosuresaleshallfirstbeappliedtoreimburseBeneficiaryfor(a)reasonablecostsandexpensesofforeclosureand(b)attorueys’fees,and(c)thebalanceoftheproceedsshallbepaidfirsttoBeneficiarytopaytheObligations,withthesurplus,ifany,tobepaidtotheownerofthePropertyonthedateoftheforeclosuresale.13.Miscellaneous.(a)ThisDeedofTrustconstitutesafixturefiling.(b)ThisDeedofTrustandeachofitsprovisionsshallbebindinguponthesuccessorsandassigasofGrantorandshallinuretothebenefitoftheTrustee,theBeneficiaryandhisanditssuccessorandassigns.(c)ThisDeedofTrustmaybeamendedormodifiedonlybyaninstrumentinwritingsignedbythepartychargedwithsuchamendmentorwaiver.(d)Theterms‘Grantor,”“Beneficiary,’“Trustee,”‘Property,-“Obligations,’“Note”and‘Collateral’aredefinedinparagraphs1through6,respectively.(e)TheTrusteemay,uponproductionoftheNote,dulycancelled,andpaymentofallfeesandcostsbyGrantor,releasethisDeedofTrustwithoutfurthershowingastopaymentof3 C)0theObligations.(0IfthereismorethanoneGrantor,allthetermsandconditionsofthisDeedofTrustshallapplytoeachofthem.(g)TheTrusteemayreleasepansofthePropertyfromthelienofthisDeedofTrustupontherequestofBeneficiarywithoutimpairinganyrightsorpriorityBeneficiarymayhaveintheremainderofthePropertyoragainstGrantor.(fi)FailureontheBeneficiary’sparttoexerciseitsrightsintheeventofanyonedefaultshallnotconstituteawaiverofsuchrightsintheeventofanysubsequentdefault.(i)anynoticeandothercommunicationsrequiredorcontemplatedbythisDeedofTrustshallbeinwritingandshallbedeemedgiventwodaysafterbeingmailed,postageprepaidtoGrantorattheaddressgivenonpage1hereoforatsuchotheraddressgivenbynoticeashereinprovided.U)WheretheGrantorandobligorontheObligationsarenotthesame,theterm‘Grantor”meanstheownerofthePropertyandtheCollateral,inanyprovisiondealingwiththePropertyand/ortheCollateral,theobligorinanyprovisiondealingwiththeObligations,andbothwherethecontextsorequires.(k)GrantorandanyotherpartyliablefortheObligationsherebyconsenttovenueandjurisdictionintheDistrictCourtinandfortheCityandCountyofDenver,StateofColorado,andintheUnitedStatesDistrictCourtfortheDistrictofColorado,andtoserviceofprocessunderSection13-l-124(1)(A)and13-1-125ColoradoRevisedStatutes,asamended,inanyactioncommencedinconnectionwiththisDeedofTrustorenforcementoftheObligations.(I)TimeisoftheessenceofthisDeedofTrustinalldutiesandObligationstobeperformedbyGrantorunderthisDeedofTrust.GRANTOR:Date:________________________,l9.........EstesParkHousingAuthority,aColoradohousingauthorityBy:__________________________________Name:______________________________________________Title:_______________________________________________STATEOF____________________)ss.COUNTYOFOnthis______dayof_______________________intheyear19,beforeme,theundersigned,aNotaryPublicinandforsaidState,personallyappeared_____________________________,personallyknowntomeorprovedtomeonthebasisofsatisfactoryevidencetobethe__________________________ofEstesParkHousingAuthority,andacknowledgedtomethatsaidhousingauthorityexecutedthewithininstrument.Witnessmyhandandofficialseal.NotaryPublicMycommissionexpires4 C0EXHIBITA(AttachedtoandformingapanoftheDeedofTrusttoPublicTrustee,SecurityAgreementandFinancingStatement(Colorado))CollateralDescription(a)allpersonalpropertyofwhatevernaturenowownedorhereafteracquiredbytheDebtorforuseattherealpropertydescribedonExhibitBattachedheretoandincorporatedhereinbythisreference(the“Property”),including,withoutlimitation:(i)allbuilding,maintenance,serviceorotherequipment,allbuilding,maintenanceorrawmaterialsorsupplies,allcomponentparts,workinprogressandinventory;allappliances;allofficeequipment;allfurnishings,allfurniture;allfixturesatanytimerelatedtotheProperty;allmachinery;andalltools;(ii)allbonding,construction,development,financing,guaranty,indemnity,maintenance,management,service,supply,warranty,andotheragreements,commitments,contractsandsubcontracts;allarchitectural,engineeringandotherplansandspecifications,reports,studiesandallagreementsrelatedthereto;allinsurancepoliciesandtheproceedsthereof;andallbonds,totheextentsuchitemsareassignablebytheirtermsorunderlaw;(iii)alldeposits,reserves,deferredpayments,rebates,refundsandreturnsofmoneyorpropertypaidtoordepositedwithanygovernmentalbody,agencyorauthorityoranypublicorprivateutility,districtorcompany,insurancecompanies,oranyotherperson,andallclaims,causesofaction,judgmentsandsettlementsatanytimearisingfromdamageto,takingof,oranyloss,impairmentordiminutioninvalueofanyofthePropertyorthecollateraldescribedhereinorintheuseofanyPropertyorsuchcollateral;(iv)allofDebtor’sright,titleandinterestinandtoallgovernmentalorotherapprovals,permits,licenses,orgrantsofrightsorprivilegeswithrespecttotheProperty,totheextentsuchitemsareassignablebytheirtermsorunderlaw;and(v)allaccounts,accountsreceivable,andallcashorcashinvestmentsresidentinanybank,savings,orinescrowaccountsmaintainedbyDebtorwhichisusedfororinconnectionwiththeoperationormanagementoftheProperty,including,withoutlimitation,securitydepositandworkingcapitalaccounts;and(b)allcashandnoncashproceedsorproductsfromthesaleorotherdispositionofthecollateraldescribedinparagraphs(a)(i)through(a)(v)above,inclusive(alloftheforegoingiscollectivelyreferredtoasthe“Collateral”).5 00EXHIBITB(AttachedtoandformingapartoftheDeedofTrusttoPublicTrustee,SecurityAgreementandFinancingStatement(Colorado))RealPropertyAtractoflandlocatedintheSE1/4ofSection30,TownshipSNorth,Range72Westofthe6thP.M.,LarimerCounty,ColoradobeingmoreparticularlydescribedascommencingattheCl/4cornerofsaidSection30,asmonumentedbyaTownofEstesParkbrasscapandwithallbearingscontainedhereinbeingrelativetotheNorthlineofsaidSE1/4consideredasbearingSouth89degrees11minutes00secondsEast;thenceSouth89degrees11minutes00secondsEastadistanceof1,297.18feetalongsaidNorthlinetotheNEcorneroftheWl/2oftheSE1/4ofsaidSection30;thenceSouth00degrees00minutes21secondsWestadistanceof640.55feetalongtheEastlineoftheWl/2oftheSE1/4ofsaidSection30totheTruePointofBeginning;thenceSouth00degrees00minutes21secondsWestadistanceof411.31feetalongsaidEastlinetoapointontheNorthright-of-waylineofGravesAvenue;thenceWestadistanceof404.45feettotheSoutheastcornerofDeyuleSubdivision;thenceNorthadistanceof619.19feetalongtheEastlineofDeyuleSubdivisiontotheSoutherlyright-of-waylineofManfordAvenue;thenceSouth62degrees48minutes00secondsEastadistanceof464.78feetalongsaidSoutherlyright-of-waylinetotheTruePointofbeginning.CountyofLarimer,StateofColorado6