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Home My WebLink AboutLand Use Case.1415 Sierra Vista Dr.0002.2014.ASLU MOO] THE CITY OF ASPEN City of Aspen Community Development Department CASE NUMBER 0002.2014.ASLU PARCEL ID NUMBERS 2735 12281001 PROJECTS ADDRESS 1415 SIERRA VISTA DR PLANNER SARA NADOLNY CASE DESCRIPTION RES DESIGN VARIANCE REPRESENTATIVE DOUG RAGER ARCHIECTS DATE OF FINAL ACTION 1.9.14 CLOSED BY ANGELA SCOREY ON: 6.25.14 2-735—t22 S100 If 2 '2a�� File Edit Record Navigate Form Reports Format Tab Help ._................... .................... Main Custom F�& RQUbag Ms ,Fee Summary hctbns Routing Bi$ory Permit iype slu � Aspen Land Use Permit 0002.2014 ASLU Address 11416 SIERRA VISTA.DR App=Suite F — city f ASPEN —� state CO Tip 81&11 r . X Permit Wormation T Master permit. Routing queue; 8s1u07 Applied 01015='2014 project Status p€ntlmg PProv€d Z y Desorption APPLICATION FOR RESIDENTIAL DESIG14 STAdlD,ARD(RDS VARIANCES Lsued r Closed/Final Submitted;DOUG RACER 410 978 06 60 Clock Running pays 0 Expires 6012015 4°owner Last name ;SCHAFTEL First name KAREN j 141 i SIERRAVISTADR :ASPEN CO 811511 Phone i Address Applicant Owner is applicant? Contractor is applicant? r Last name ISCHAFTEL I First name I AREN 1415 SIERRAVISTADR ASPEN CC,811511 Phone ( Cusk,° ;291598 I ddrac4 Lender Last name First name Phone ( ! Address' I i i 1 3' Displays the pan itlender's address AspenGold5(server) angelas 1 oil 315-3q Written Description City of Aspen Residential Design Standards Variance Requests for 1415 Sierra Vista Drive. Variance request 91 Owner requests permission to install a sliding glass on the Upper Level from the Dining Room to the existing deck. The door will face Sierra Vista Drive. The new door was included on the building permit application& was denied with city planner citing the following design review standard which is highlighted in red. 26.410.030.D. 3. Windows. a) Street-facing windows shall not span through the area where a second floor level would typically exist, which is between nine (9) and twelve feet(12) above the finished first floor. For interior staircases, this measurement will be made from the first landing if one exists. A transom window above the main entry is exempt from this standard. The "Windows"design review standard does not mention doors. The standard is titled"Windows" & the illustration that accompanies the written standard does not picture a door. I was told that"doors read as windows" (although even small children know the difference between doors &windows). Clearly the intent of the design review standard is to eliminate windows "where a second floor level would typically exist". However, a door on the second floor level clearly establishes that a second floor level does exist. A door on the second floor level is an even better indicator that a second floor level does exist than eliminating windows that span through an"area where a second floor would typically exist." There can be no doubt that the area where a second floor would typically exist is actually a second floor if a door is included at the second level. The illustration that accompanies the written"Windows" design standard pictures a full two story height exterior wall. The implied intent of the "Windows" design standard is the elimination of tall windows at full two story height exterior walls that are street facing. The Sierra Vista Drive facing wall of the subject project is broken with an existing intersecting one story Garage with an existing flat roof deck over. The proposed second floor street facing door is not located on an unbroken full two story height wall & in fact the foreground Garage largely cuts off the view of the bottom of the door from the street level. The immediate neighborhood setting around 1415 Sierra Vista Drive has many older& newer homes with street facing second level exterior doors including homes that are directly across Sierra Vista Dr. & directly across Bonita Drive. Photographs of some of the nearby homes with street facing second level doors are included with this variance request. The proposed second level street facing sliding glass door is appropriate given that a pattern of development of street facing second level doors is clearly established in the immediate neighborhood. Existing main living space at 1415 Sierra Vista Drive is on the second floor level. The remodel plan retains the same arrangement of Living, Kitchen, Dining, &Master Bedroom on the second floor level. The existing deck over the Garage is key to the enjoyment of the outdoors from the main living spaces. Easy circulation&view from inside to outdoors is of primary importance to the owner. Because the living area is on the second floor level, it is clearly necessary for reasons of fairness to allow the owner of 1415 Sierra Vista to enjoy direct access to the outdoors at the existing second level deck. Variance Request#2 Owner requests permission to install an aluminum framed Garage door with frosted glass panels. The Garage door design standard is highlighted in red below. 26.410.030.8.2. f) If the garage doors are visible from a public street or alley, then they shall be single- stall doors or double-stall doors designed to appear like single-stall doors. Attached are photos of the type of Garage door that the Owner would like to install. The photos are all of newer installations in the immediate neighborhood. These doors were obviously installed after the design review standards were adopted.An aluminum framed frosted glass panel garage door does not lend itself well to a design modification that can make it"appear like single-stall doors." The aluminum framed frosted glass panel door is handsome & appropriate with the existing contemporary architecture of 1415 Sierra Vista Drive. This type of door has obviously been approved within the neighborhood& at other locations within the city. r - in-� r' . ��Lt-fir-� __ ,, ��, •' r, ,� i - .4 .- i f' f t 1 mot.. S A V1,:r 1 � lr J _ •0 L1F7 1 ,".60101me tt , ol • � :f,7 j �1 /1 �� f Ja Aft Aw j - l 7o/s%, 1� h a. ci - or -Am- _ J} I � J _."''"" �' E � �� t � � � (Ly�t{I � .1+ y i � _ + �_.� � 'y �,, �a( , � .,,4 ill � �� , . t��, �� \ I � i wr � V/ � �'_`� l_r _ �: � � � /�`� � � , � � � �,��. 1�� . �� • • r---- ��_ �� J �� r :� � i 1r � `� ` , �- � �``-� i �L , � � � � � -� � � - `- _� �� _ 1! Li. r �� . "`,. �-- � ��` � � � F �� ,,� ,��;::s. --. _ p F � -_ �. v r� t �'. (� �� Y�. L s- --k�KA '��?-�Y- " .Ali✓"„ +-_ ' T vi��:. l ......_�.:s�cow��`�, fit.-.E..��,;��G` �,St,••� -+ _ �,� 44 h mobarm � l 40 C 0/t/ JAN 0 6 2014 ATTACHMENT 2—LAND USE APPLICATION orA6PEN PROJECT: DFIVELOPMEN! Name: Location: 4 kE� T", (Indicate street address,lot.&block number,legal description where appropriate) Parcel ID#(REQUIRED) DC APPLICANT: Name: F-c) Address: (4 �(;t G o4z"p-A Phone#: REPRESENTATIVE: Name: Address: 2 Phone#: 7L] TYPE OF APPLICATION:(please check all that apply): ❑ GMQS Exemption ❑ Conceptual PUD ❑ Temporary Use ❑ GMQS Allotment F-1 Final PUD(&PUD Amendment) ❑ Text/Map Amendment ❑ Special Review F-1 Subdivision ❑ Conceptual SPA ❑ ESA—8040 Greenline,Stream ❑ Subdivision Exemption(includes ❑ Final SPA(&SPA Margin,Hallam Lake Bluff, condominiumization) Amendment) Mountain View Plane F-1 Commercial Design Review ❑ Lot Split ❑ Small Lodge Conversion/ Expansion Residential Design Variance r_1 Lot Line Adjustment ❑ Other: I ❑ Conditional Use EXISTING CONDITIONS: (description of existing buildings,uses,previous approvals,etc.) eX_((_'_7FJ Nf PROPOSAL: (description of proposed buildings,uses,modifications,etc.) e: G�CND Ra �QP A� y&N t,',su,*11 ROM ENVIED > Have you attached the following? FEES m$ zlre-Application Conference Summary F-1 Attachment 41,Signed Fee Agreement ❑ Response to Attachment#3,Dimensional Requirements Form ❑ Response to Attachment#4,Submittal Requirements-Including Written Responses to Review Standards ❑ 3-D Model for large project All plans that are larger than 8.5"X 11"must be folded. A disk with an electric copy of all written text (Microsoft Word Format)must be submitted as part of the application. Large scale projects should include an electronic 3-D model. Your pre-application conference summary will indicate if you must submit a 3-D model. ATTACHMENT 3 DIMENSIONAL REQUIREMENTS FORM Project: Applicant: Z- r Location: Zone District: c7 _ Lot Size: O f Lot Area: p (for the purposes of calculating Floor Area,Lot Area may be reduced for areas within the high water mark,easements,and steep slopes.Please refer to the definition of Lot Area in the Municipal Code.) Existing: Proposed: F r\ Number of residential units: Existing: r1i Proposed: 12i Number of bedrooms: Existing:— 1-4-f—Proposed: Proposed%of demolition(Historic properties only): DIMENSIONS: Floor Area: Existing Allowable�l l Proposed.�CJ Principal bldg. height: Existing: 3 lllowable:�_Propose 3 Access.bldg. height: Existing: Allowable: Proposed: _...________ V'qn-Site parking: Existing. Required: ropos . o G ��_ % Site coverage: Existing. b-Required: Propos � % Open Space: Existing.' Required:_T Proposed: Front Setback: Existing: / Required: 'fib Proposed: Rear Setback: Existing Required: Proposed: Combined F/R: Existing.•--��—,-Required: Proposed: Side Setback: Existing: Required:__ I Proposed: Side Setback: Existing: Re uired: Proposed: S g q Combined Sides: Existing.- —Required.• Proposed: Distance Between Existingl� Required: Proposed: Buildings `` (( Existing non-conformities or encroachments: Variations requested: G' (� l G`l � � DI C � Doug Rager,927- 1780 DEVELOPMENT COMMUNITY 'A' Homeowner Association Compliance Policy All land use applications within the City of Aspen are required to include a Homeowner Association Compliance Form (this form) certifying the scope of work included in the land use application complies with all applicable covenants and homeowner association policies. The certification must be signed by the property owner or Attorney representing the property owner. Names JJ j Property Owner( I'): Email: Phone No.. HA f- 1 - ' Address of (subject of of a lication) _ i certify as follows: (pick one) [O"This his property is not subject to a homeowners association or other form of private covenant. El This property is subject to a homeowners association or private covenant and the improvements proposed in this land use application do not require approval by the homeowners association or covenant beneficiary. ❑ This property is subject to a homeowners association or private covenant and the improvements proposed in this land use application have been approved by the homeowners association or covenant beneficiary. Evidence of approval is attached. I understand this policy and I understand the City of Aspen does not interpret, enforce, or manage the applicability, meaning or effect of private covenants or homeowner association rules or bylaws, I understand that this docu nt is a pu�ic docume Owner signature: _ Owner printed name: or, Attorney signature: date: Attorney printed name: October,2013 City of Aspen 1 130 S.Galena St. 1 (970) r 3 Ronald O . Schaftel Doug Rager,Architect, P.C. 1780 Snowmass Creek Road Snowmass, Colorado 81654 RE: 1415 Sierra Vista Road Dear Doug: As owner of the above referenced house, i hereby grant you permission to prepare and process architectural remodel plans with the City of Aspen. Any questions please let me know. Thank you very much, Ronald O. Schaftel ;.f f 1415 Sierra Vista Road — Aspen, Colorado 81611 WESTCOR LANG TITLE INSURANCE CCMP.'INY ALTA Commitment Form (6-17-06) COMMITMENT FOR TITLE INSURANCE ISSUED BY WESTCOR LAND TITLE INSURANCE COMPANY Westcor Land Title Insurance Company, a California Corporation,("Company'),for a valuable consideration, hereby commits to issue its policy orpolicies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedule A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company. All liability and obligations under this Commitment shall cease and terminate within six (6) months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. IN WITNESS WHEREOF, WESTCOR LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed and these presents to be signed in facsimile under authority of its by-laws on the date shown in Schedule A. Issued By: WESTCOR LAND TITLE INSURANCE COMPANY �4 7y B}: Sccretary Countersigned: Authorized Signature CO 1045 ** Pitkin County Title,Inc. 601 E.Hopkins#3 Aspen,CO 81611 COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date: September 3, 2013 at 8:00 AM Case No. PCT23823W4 2. Policy or Policies to be issued: (a)ALTA Owner's Policy-(6117/06) Amount$2,115,000.00 Premium$ 3,994.00 Proposed Insured: Rate: Standard RONALD O. SCHAFTEL and KAREN S. SCHAFTEL (b)ALTA Loan Policy-(6/17/06) Amount$ 1,575,000.00 Premium$ 125.00 Proposed Insured: Rate: Companion WELLS FARGO BANK, N.A., ITS SUCCESSORS AND/OR ASSIGNS (c)ALTA Loan Policy-(6/17106) Amount$ Premium$ Proposed Insured: Rate: 3. Title to the FEE SIMPLE estate or interest in the land described or referred to in this Commitment is at the effective date hereof vested in: JILL P. URIS 4. The land referred to in this Commitment is situated in the County of PITKIN State of COLORADO and is described as follows: NORTH UNIT, GRACE PAUL CONDOMINIUMS, According to the Map thereof recorded October 25, 1982 in Plat Book 14 at Page 4 as Reception No. 245001, and the Amended Map recorded September 21, 1983 in Plat Book 15 at Page 37 as Reception No. 253332, and as defined and described in the Condominium Declaration recorded November 8, 1982 in Book 435 at Page 338 as Reception No. 245394. Schedule A-PG.1 PITKIN COUNTY TITLE.INC. This Commitment is invalid 601 E.HOPKINS,ASPEN,CO.81611 unless the Insuring 970-925-1766 Phone/970-925-6527 Fax Provisions and Schedules 877-217-3158 Toil Free A and B are attached. AUTHORIZED AGENT Countersigned: COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date: September 3, 2013 at 8:00 AM Case No. PCT23823W4 2. Policy or Policies to be issued: (a)ALTA Owner's Policy-(6/17/06) Amount$2,115,000.00 Premium$ 3,994.00 Proposed Insured: Rate: Standard RONALD O. SCHAFTEL and KAREN S. SCHAFTEL (b)ALTA Loan Policy-(6117/06) Amount$ 1,575,000.00 Premium$ 125.00 Proposed Insured: Rate: Companion WELLS FARGO BANK, N.A., ITS SUCCESSORS AND/OR ASSIGNS (c)ALTA Loan Policy-(6117106) Amount$ Premium$ Proposed Insured: Rate: 3. Title to the FEE SIMPLE estate or interest in the land described or referred to in this Commitment is at the effective date hereof vested in: JILL P. URIS 4. The land referred to in this Commitment is situated in the County of PITKIN State of COLORADO and is described as follows: NORTH UNIT, GRACE PAUL CONDOMINIUMS, According to the Map thereof recorded October 25, 1982 in Plat Book 14 at Page 4 as Reception No. 245001, and the Amended Map recorded September 21, 1983 in Plat Book 15 at Page 37 as Reception No.253332, and as defined and described in the Condominium Declaration recorded November 8, 1982 in Book 435 at Page 338 as Reception No. 245394. Schedule A-PG.1 PITKIN COUNTY TITLE,INC. This Commitment is Invalid 601 E.HOPKINS,ASPEN,CO.81611 unless the Insuring 970-925-1766 Phone/970-925-6527 Fax Provisions and Schedules 877-217-3158 Toll Free A and B are attached. AUTHORIZED AGENT Countersigned: SCHEDULE B-SECTION 1 REQUIREMENTS The following are the requirements to be complied with: ITEM (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. ITEM (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record to-wit: 1. Release by the Public Trustee of the, Deed of Trust from : JILL P. URIS to the Public Trustee of the County of PITKIN for the use of :WELLS FARGO BANK, N.A. original amount : $200,000.00 dated : September 6, 2007 recorded : September 28, 2007 reception no. : 542549 2_ Duly acknowledged certificate of the Managing Agent or Board of Directors of Grace Paul Condominiums certifying that proper notice of sale of the subject property was given and that the remaining owners of said Association did not elect to exercise their option to purchase pursuant to the Right of First Refusal as set forth in the Condominium Declaration. 3. Evidence satisfactory to the Company that the Real Estate Transfer Tax as established by Ordinance No. 20 (Series of 1979)and Ordinance No. 13 (Series of 1990) has been paid or exempted. 4. Duly executed and acknowledged Deed, From : JILL P. URIS To : RONALD O. SCHAFTEL and KAREN S. SCHAFTEL 5. Deed of Trust from : RONALD O. SCHAFTEL and KAREN S. SCHAFTEL to the Public Trustee of the County ofPITKIN for the use of :THE LENDER TO BE INSURED HEREUNDER to secure : $1,575,000.00 6. Evidence satisfactory to the Company that the Declaration of Sale, Notice to County Assessor as required by H.B. 1288 has been complied with. (This instrument is not required to be recorded, but must be delivered to and retained by the Assessors Office in the County in which the property is situated) 7. Completion of Form DR 1083 regarding the withholding of Colorado Tax on the sale by certain persons, corporations and firms selling Real Property in the State of Colorado. (This instrument is not required to be recorded) 8. Certificate of nonforeign status executed by the transferor(s). (This instrument is not required to be recorded) WESTCOR LAND TITLE INSURANCE COMPANY ALTA Commitment Form(6-17-06) COMMITMENT FOR TITLE INSURANCE ISSUED BY WESTCOR LAND TITLE INSURANCE COMPANY Westcor Land Title Insurance Company, a California Corporation,("Company'),for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedule A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company. All liability and obligations under this Commitment shall cease and terminate within six (6) months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. IN WITNESS WHEREOF, WESTCOR LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed and these presents to be signed in facsimile under authority of its by-laws on the date shown in Schedule A. Issued By: WESTCOR LAND TITLE INSURANCE COMPANY v4 7y�s By: c� �k a s resident 1s�dTiih. �o Anes Sccretury Countersigned: Authorized Signature CO 1045 ** Pitkin County Title,Inc. 601 E.Hopkins#3 Aspen,CO 81611 1415 Sierra Vista Dr,Aspen,CO-Google Maps https://maps.google.com/ Google To see all the details that are visible on tt,e v screen,use the"Print"link next to the map. Q p V � _. Aspen G Gourae • Family H • Snowbt nny r1 Foulard MW and Georgia MD un 5` SierraJls�a� 1� cpot�° - 'ra O • Aspen Jr Golf �• Foundation «fit �'ory e � baby's A n _ m Map data Q2014 Goode- 1 of 1 1/6/2014 11:00 AM RECEPTION#: 603943, 00/23/2013 at 12:18:54 PM, 1 OF 3, R $21 .00 DF $211.50 Janice ros Caudill, Pitkin County, CO JT a i l � RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Waas Campbell Rivera Johnson& `f4YicTi pA D et;0-'77 FAID VelasquezLLP DATE I �F�4 NG �3DK'Az (,Ir � w� �F� Attn:Cheryl A.Velasquez,Esq. Gj/ t '/�- p J /- 497,6 420 East Main Street,Suite 210 Aspen,CO 81611 SPACE ABOVE THIS LINE FOR RECORDER'S USE GENERAL WARRANTY DEED THIS GENERAL WARRANTY DEED is dated as of September 23, 2013, between JILL P. URIS an individual ("Grantor"), whose address is P.O. Box 1559, Aspen, Colorado 81612, and RONALD 0. SCHAFTEL and KAREN S. SCHAFTEL, as joint tenants !� (collectively"Grantees"),whose address is 1415 Sierra Vista Drive,Aspen,Colorado 81611. WITNESSETH,that Grantor,for and in consideration of the sum of Ten Dollars($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm unto Grantees, their heirs, successors and assigns forever, all Jof the following described real property in the County of Pitkin, State of Colorado,together with all rights, privileges and easements appurtenant thereto and all improvements located thereon (collectively,the"Property"): NORTH UNIT, GRACE PAUL CONDOMINIUMS, According to the Map thereof recorded October 25, 1982 in the Plat Book 14 at Page 4 as Reception No. 245001,and the Amended Map recorded September 21, 1983 in the Plat Book 15 and Page 37 as Reception No. 253332, and as defined and described in the Condominium Declaration recorded November 8, 1982 in the Book 435 at Page 338 as Reception No.245394, TOGETHER WITH all and singular the hereditaments and appurtenances thereunto 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 Grantor, either in law or equity, of in and to the Property, with the hereditaments and appurtenances. TO HAVE AND TO HOLD the Property unto Grantees, their heirs, successors and assigns forever. AND Grantor,for itself,and its successors and assigns,covenants and agrees that it shall and will WARRANT AND FOREVER DEFEND the Property in the quiet and peaceable possession of Grantees, their heirs, successors and assigns against all and every person or persons who lawfully claims the Property or any part thereof, subject to the matters set forth on Exhibit A attached hereto and made a part hereof 1 A0026678/21 RECEPTION#: 603943, 00/23/2013 at 12:18:54 PM, 2 OF 3, Janice K. Vos Caudil ?itkin County, CO IN WITNESS WHEREOF, Grantor has executed this General Warranty Deed as of the day and year first written above. By:_ 41 (�� JILL P. S,an individual STATE OF COLORADO ) ss: COUNTY OF PITKIN ) �h The foregoing instrument was acknowledged before me this day of September 2013,by JILL P.URIS,an individual. Witness my hand and official seal. My commission expires: -I - ��aidis_,•. n� Notary Pu s {AOC26678i2) 2 RECEPTION#: 603943, OQ/23/2013 at 12:18:54 PM, 3 OF 3, Janice K. Vos Caudil ?itkin County, CO EXHIBIT A TO GENERAL WARRANTY DEED PERMITTED EXCEPTIONS 1. Taxes and assessments for the year 2013 and subsequent years,a lien not yet due or payable. 2. Right of the proprietor of a vein or lode to extract or remove his ore therefrom,should the same be found to penetrate or intersect the premises hereby granted as reserved in the United States Patent recorded October 27, 1892 in Book 55 at Page 33. 3. Easements,rights of way and all matters as disclosed in the Plat of subject property recorded in Plat Book 3 at Page 252. 4. Easements,rights of way and all matters as disclosed in the Plat of subject property recorded in Plat Book 14 at Page 4 and as amended in Plat Book 15 at Page 37. 5. Terms,conditions,obligations,provisions and all matters as set forth in Statement of Exception from the Full Subdivision Process for the Purpose of Condominiumization for Grace Paul Condominiums as set forth in instrument recorded October 25, 1982 in Book 434 at Page 554. 6. Terms,conditions,obligations,provisions and all matters as set forth in Declaration of Covenants,Restrictions and Conditions for the Grace Paul Condominiums as set forth in instrument recorded October 25, 1982 in Book 434 at Page 556. 7. Terms,conditions,provisions,obligations,easements,restrictions and assessments as set forth in the Condominium Declarations for Grace Paul Condominiums recorded on October 25, 1982 in Book 435 at Page 338. {A0026678/21 A-1 RECEPTION#: 603943, 09/23/2013 at 12:18:54 PM, 1 OF 3, R $21 00 DF $211.50 Janice I 'os Caudill, Pitkin County, CO J- ail RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Waas Campbell Rivera Johnson& t"++ 77 PA10 Velasquez LLP DATE Attn:Chen4 A.Velasquez,Esq. a 13 F ]yG y 420 East Main Street,Suite 210 �� Aspen,CO 81611 SPACE ABOVE THIS LINE FOR RECORDER'S USE GENERAL WARRANTY DEED THIS GENERAL WARRANTY DEED is dated as of September 23, 2013, between JILL P. URIS an individual ("Grantor'), whose address is P.O. Box 1559, Aspen, Colorado 81612,and RONALD O. SCHAFTEL and KAREN S. SCHAFTEL, as joint tenants !� (collectively"Grantees"),whose address is 1415 Sierra Vista Drive,Aspen,Colorado 81611. WITNESSETH,that Grantor,for and in consideration of the sum of Ten Dollars($10.00) m and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm unto Grantees, their heirs, successors and assigns forever,all Jof the following described real property in the County of Pitkin,State of Colorado,together with all rights, privileges and easements appurtenant thereto and all improvements located thereon (collectively,the"Property NORTH UNIT, GRACE PAUL CONDOMINIUMS, According to the Map thereof recorded October 25, 1982 in the Plat Book 14 at Page 4 as Reception No.245001,and the Amended Map recorded September 21, 1983 in the Plat Book 15 and Page 37 as Reception No. 253332, and as defined and described in the Condominium Declaration recorded November 8, 1982 in the Book 435 at Page 338 as Reception No.245394, TOGETHER WITH all and singular the hereditaments and appurtenances thereunto 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 Grantor, either in law or equity, of. in and to the Property, with the hereditaments and appurtenances. TO HAVE AND TO HOLD the Property unto Grantees, their heirs, successors and assigns forever. AND Grantor,for itself,and its successors and assigns,covenants and agrees that it shall and will WARRANT AND FOREVER DEFEND the Property in the quiet and peaceable possession of Grantees, their heirs, successors and assigns against all and every person or persons who lawfully claims the Property or any part thereof,subject to the matters set forth on Exhibit A attached hereto and made a part hereof. {A0026678/2 1 RECEPTION#: 603943, 09/23/2013 at 12:18:54 PM, 2 OF 3, Janice K. Vos Caudill itkin County, CO IN WITNESS WHEREOF, Grantor has executed this General Warranty_ Deed as of the day and year first written above. JILL P.L4US,an individual STATE OF COLORADO ) ss: COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this l� -day of September 2013,by JILL P.URIS,an individual. Witness my hand and official seal. My commission expires: �J C ��aidis Notary Pu 'c y:•" � v S ;A0026678/2} 2 RECEPTION#: 603943, 09/23/2013 at 12:18:54 PM, 3 OF 3, Janice K. Vos Caudill itkin County, CO EXHIBIT A TO GENERAL WARRANTY DEED PERMITTED EXCEPTIONS I. Taxes and assessments for the year 2013 and subsequent years,a lien not yet due or payable. 2. Right of the proprietor of a vein or lode to extract or remove his ore therefrom,should the same be found to penetrate or intersect the premises hereby granted as reserved in the United States Patent recorded October 27, 1892 in Book 55 at Page 33. 3. Easements,rights of way and all matters as disclosed in the Plat of subject property recorded in Plat Book 3 at Page 252. 4. Easements,rights of way and all matters as disclosed in the Plat of subject property recorded in Plat Book 14 at Page 4 and as amended in Plat Book 15 at Page 37. 5. Terms,conditions,obligations,provisions and all matters as set forth in Statement of Exception from the Full Subdivision Process for the Purpose of Condominiumization for Grace Paul Condominiums as set forth in instrument recorded October 25, 1982 in Book 434 at Page 554. 6. Terms,conditions,obligations,provisions and all matters as set forth in Declaration of Covenants,Restrictions and Conditions for the Grace Paul Condominiums as set forth in instrument recorded October 25. 1982 in Book 434 at Page 556. 7. Terms,conditions,provisions,obligations,easements,restrictions and assessments as set forth in the Condominium Declarations for Grace Paul Condominiums recorded on October 25, 1982 in Book 435 at Page 338. {A0026678/2 1 A-1 RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 1 OF 16, R $8F.00 Janice K. Vos Caudi' Pitkin County, CO Return To:Wells Fargo Bank N.A. FINAL DOCUMENTS T7408-01 F 4101 Wiseman Blvd Bldg 108 San Antonio,TX 78251-4200 Prepared By:RUTH U PALMER 9780 S MERIDIAN BLVD 2ND FL ENGLEWOOD,CO 80 112-5 910 Deed of Trust Definitions.Words used in multiple sections of this document are defined below and other words are defined in Sections 3,11,13,18,20 and 21.Certain rules regarding the usage of words used in this document are also provided in Section 16. Ir (A) "Security Instrument"means this document,which is dated September 23,2013,together with all Riders to this K) document. (B) "Borrower"is Ronald 0 Schaftel and Karen S Schaftel,husband and wife-,as Joint Tenants.Borrower is the (J trustor under this Security Instrument. (C) 'Lender"is Wells Fargo Bank,N.A..Lender is a corporation organized and existing under the laws of United States of America.Lenders address is 101 North Phillips Avenue,Sioux Falls,SD 57104.Lender is the beneficiary under this Security Instrument. (D) "Trustee"is the Public Trustee of Pitkin County,Colorado. (E) "Note"means the promissory note signed by Borrower and dated September 23,2013.The Note states that Borrower owes Lender one million five hundred seventy five thousand and 00/100 Dollars(U.S.$1,575,000.00)plus interest.Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than October I,2043. (F) "Property"means the property that is described below under the heading"Transfer of Rights in the Property." (G) "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. (H) "Riders"means all Riders to this Security Instrument that are executed by Borrower.The following Riders are to be executed by Borrower[check box as applicable]: • Adjustable Rate Rider E, Condominium Rider C6econd Home Rider • Balloon Rider ❑ Planned Unit Development Rider 014 Family Rider ❑ VA Rider ❑ Biweekly Payment Rider ODther(s)[specify] 1 FG_D 59 COLORADO-S,qI.Family-Fannie Mae/Fr ddle Mac UNIFORM INSTRUMENT Form M%1N1 VMPO 03x13 V,bh—K1—R.—I Services 201 309 2 0 4.1.0.2547-,120130426V Page 1 d 13 '343089113 t7• III��H�IIIa�iNall�IllN �B�a�IIHlI�I� RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 2 OF 16, Janice K. Vos Caudill, tkin County, CO (I) "Applicable Law"means 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. (J) "Community Association Dues,Fees,and Assessments"means all dues,fees,assessments and other charges that are imposed on Borrower orthe Property by a condominium association;homeowners association or similar organization. (IQ "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 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. (L) "Escrow Items"means those items that are described in Section 3. (M) `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 and/or condition of the Property. (N) 'Mortgage Insurance"means insurance protecting Lender against the nonpayment of,or default on,the Loan. (0)"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. (P)"RESPA"means the Real Estate Settlement Procedures Act(12 U.S.C.Section 2601 et seq.)and its implementing regulation,Regulation X(12 C.F.R.Part 1024),as they might be amended from time to time,or any additional or successor legislation or regulation that governs the same subject matter.As used in this Security 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. (Q) "Successor in Interest of Borrower"means any party that has taken title to the Property,whether or not that party has assumed Borrowers obligations under the Note and/or this Security Instrument. Transfer of Rights in the Property.This Security Instrument secures to Lender:(i)the repayment of the Loan,and all renewals,extensions and modifications ofthe 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[Type of Recording Jurisdiction]of Pitkin[Name of Recording Jurisdiction]:Attach legal description Parcel ID Number. which currently has the address of 1415 Sierra Vista DR[Street]Aspen[City],Colorado 81611[Zip Code]("Property Address"): 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.Alt 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 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 will defend generally the title to the Property against all claims and demands,subject to any encumbrances of record and liens for taxes for the current year not yet due and payable. HCFG-00358 COLORADO-Sing*Famiy-Fannie Ma T,Md,e Mac UNIFORM INSTRUMENT Form 300E 1101 WPO 03'3 Mblles K—,Financial Services 201308204 1.0 2547.1201 3 0 4 2 5Y Pepe 2&13 u RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 3 OF 16, Janice K. Vos Caudill tkin County, CO 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,treasurers 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 Borrowermakes payment to bring the Loan current.If Borrower does not 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 orperforming the covenants and agreements secured by this 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)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.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 amount 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 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 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 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 orground rents on the Property,if any:(c)premiums forany and all insurance required by Lenderunder Section 5;and(d)Mortgage Insurance premiums,if any.or any sums payable by 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." HCFG-00359 C ORADO-S,gl Fa 1y.Fanme Ma,JF d,Ma:UNIFORM INSTRUMENT Form 30061rD1 VMPO 03+13 NbNers Khmer FinanClal Smms 201309204.1.0.254]-J 130426V Page 3 A13 •34300911II3II217'I{I{ INNI''I{{III 1—� RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 4 OF 16, Janice K. vos Caudill tkin County, CO 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 and applying the Funds,annually analyzing the escrow account,or verifying 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 in writing,however,that interest shall be paid on the Funds.Lender shall give to Borrower,without charge,an annual accounting ofthe 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 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.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 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 RCFG 3M59 COLORADO-S g*Family-Fannie MaWl—dm Mac UNIFORM INSTRUMENT Form 3DW 1MI VMP® 0313 Nb—Khmer Fin—,Services 2013 2U 1.0.254]-J2013D425V Page 4 dNN13 ' I,''nnI,'�n�nNNlpI}}I�'�' IIII��1111It RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 5 OF 16, Janice K. Vos Caudill tkin County, CO in,legal proceedings which in Lender's opinion operate to prevent the enforcement ofthe lien while those proceedings are pending,but only until such proceedings are concluded,or(c)secures from the holder of the lien an agreement satisfacton-to Lender subordinating the lien to this Security Instrument.If Lender determines that any part ofthe 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 ofthe 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 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.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 ofthe Loan.The insurance carrier providing the insurance shall be chosen by Borrower subject to Lenders 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-time 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 ofthe coverages described above,Lender may obtain insurance coverage,at Lender's option and Borrowers 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 ofthe 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 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 ofthe Property, if the restoration or repair is economically feasible and Lenders 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 Lenders 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. HCFG-J0359 C{x ORADOS.,gk F-4y-F.—MaeFretlEre Mac UNIFORM INSTRUMENT Form.300=13 0313 VMP6 MbRers Kluwer Fi"—.1 Services 2Ct 3204 1 0.2547-J 0130426Y Page 5 of t3 - INII�H��INI�INIbIIhIiBaI��NIIi��iR�1lfRli� RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 6 OF 16, Janice K. Vos Caudill Ltkin County, CO 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 Lenders 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,Lenderman 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 assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security-Instrument, and(b)any other of Borrowers 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 Borrowers 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 Borrowers control. 7.Preservation,Maintenance and Protection of the Property;Inspections.Borrower shall not destroy, damage or impairthe 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 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 disburse 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 Borrowers 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 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 Borrowers 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 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 HCFG-OM59 COLORADOSogle Family-Fannie MaeJF,e dw Mac UWARM INSTROMENT Fpm 3006 1101 VMPH 0313 Nbft—IG—Ri---I Senores 201308204 1.0:"547-..'20'30425Y Pag,6 d 13 11�8NINNI '343069113 17' NN�I�NI��If �II�NI�aNll�ll�� RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 7 OF 16, Janice K. Vos Caudill tkin County, CO 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)paving reasonable attorneys'fees to protect its interest in the Property and/or rights under this Security Instrumea including its secured position in a bankruptcy proceeding. Securing the Property includes,but is not limited to,entering the Propem to make repairs,change locks,replace or board up doors and windows,drain water from pipes,eliminate building or other code violations or dangerous conditions,and have utilities tamed 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 all 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 acquires 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 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 and for the period that Lender requires)provided by an insurer selected 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 Lenders 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 Borrowers 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 part 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 might be characterized as)a portion of Borrowers payments for Mortgage Insurance,in exchange for sharing or modifying the mortgage insurer's HGFG-00359 COLORADO-Single Family-Fannie MaNFrMtle Mac UNIFORM INSTRUMENT Fw 3005101 VMS MW 13 13 w W—VJ—,R—.1 S-1— 201309234.1 0.2S47-.20130425Y Page 7 of 363��II�711�111��1�1�� II� RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 8 OF 16, Janice K. Vos Caudill tkin County, CO risk-,or reducing losses.If such agreement provides that an affiliate of Lender takes a share ofthe insurer's risk in exchange for a share ofthe 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 applied to restoration or repair ofthe Property,if the restoration or repair is economically feasible and Lenders security is not lessened.During such repair and restoration period,Lender shall have the right to hold such Miscellaneous 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 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 required to pay Borrower any interest or earnings on such Miscellaneous Proceeds.Ifthe restoration or repair is not economically feasible or Lenders 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 Proceeds shall be applied in the order provided for in Section 2. In the event ofa total taking,destruction,or loss in value ofthe 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 ofa partial taking,destruction,or loss in value ofthe Property in which the fair market value ofthe Property immediately before the partial taking,destruction,or loss in value is equal to or greater than the amount ofthe 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 fraction:(a)the total amount ofthe sums secured immediately before the partial taking,destruction,or loss in value divided by(b)the fair market value ofthe Property immediately before the partial taking,destruction,or loss in value.Any balance shall be paid to Borrower. In the event ofa partial taking,destruction,or loss in value ofthe Property in which the fair market value ofthe Property immediately before the partial taking,destruction,or loss in value is less than the amount ofthe 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 ofthe Property onto the sums secured by this Security Instrument,whether or not then due."Opposing NCFG-03359 8-3006 1M1 COLORADO 5ingk Family-Fannie M—/Pre d,Mac UNIFORM INSTRUMENT 0313 VMP Pape 8 of 13 NbMrs Kl�.,er Financul Services 731309204 1.0.2547-n01 W426r �'1ryN'N'Iryry'{paatltl'�� ,�',ryr{pe'�� •343 11��i�I1,11��l�1�I,11 ^ 111111111111111l� N RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 9 OF 16, Janice K. Vos Caudil: 'itkin County, CO Party"means the third party that owes Borrower Miscellaneous Proceeds or the part 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 Lenders 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 Lenders 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 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;.Successors and Assigns Bound.Borrower covenants and agrees that Borrowers obligations and liability shall be joint and several.However,any Borrowerwho 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-signers 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,modify,forbear or make any accommodations with regard to the terms ofthis 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 Borrowers obligations under this Security Instrument in writing,and is approved by Lender,shall obtain all of Borrowers rights and benefits under this Security Instrument.Borrower shall not be released from Borrowers 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 of Lender. 14.Loan Charges.Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lenders 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 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 making a direct payment to Borrower.If a refund MCFG-00359 COLORADO Sing*Family-Fan—Maer,,ddie Mac UNIFORM INSTRUMENT Fwm 3076 1101 03n3 'Ab Kbkers purer Financial Services 2013092041.0.2547 J20130426Y Pa4e 90113 '343089113217�II 111NNaIN��IIIIIIINIIINN V17 RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 10 OF 16, Janice K. Vos Caudil. 'itkin County, CO 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 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. Anv 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 anv 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 Borrowers 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 Lenders 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 Security Instrument shall be 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 construed as a 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 Security 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 ofthe Note and ofthis 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 at a future date to a purchaser. [fall 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 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.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 Borrower must pay all 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 HI-FG-00355 COLORADO-Single Famiy-Fannie Mae/Fredd�e Mac UNIFORM INSTRUMENT Foim.300 a3v 3 0313 VMFdP Wohers Kluwer Financial Services 201303204 1.D 2547-120130425Y Page 10 of 13 InInII �uWmum�NN'' 3n1�� II��I�I��II� � N� RECEPTION#: 603944, 0o123/2013 at 12:18:55 PM, 11 OF 16, Janice K. Vos Caudil. litkin County, CO 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,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 Borrowers 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 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 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 ofthe 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 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 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 ofthis Section 20. 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 ofthe 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 acondition thatcan 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 anv 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, HCFG-DM59 COLORADOSI gW F—ily.:annie Ma/Feddi Mac UNIFORM INSTRUMENT Form 30061/01 0313 VMP® NbMrs Kluwer Financial Servi¢5 201309201.1.0.2547-J20130426Y NNYI P+'alry+N'N''nngel{{t1 of 13 NNNN I �I��O�I,I��IIIIII�� RECEPTION#: 603944, 01123/2013 at 12:16:55 PM, 12 OF 16, Janice K. Vos Caudil: 'itkin County, CO or(c)which,due to the presence,use,or release of a Hazardous Substance,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 orother 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 result in acceleration of the sums 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 foreclosure proceeding 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 immediate payment in full of all sums secured by this Security Instrument without further 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 15. Trustee shall record a copy of the notice in the county in which the Property is located. Trustee shall publish a notice of sale for the time 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 time 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 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. HCF -OM59 CIX ORP00-5mgk Fartxly-Fannie MaelFreddie Mac UNIFORM MSrRUMEM Form 3DO6 1/01 VMPB 03/13 AbM,Hlw.er Finan.7al Sery 271309204.1 014720!20!30426V Page 12 d 13 1N343'I RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 13 OF 16, Janice K. Vos Caudil. titkin County, CO 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 canceled,all notes evidencing debts secured by this Security Instrument.Trustee shall release this Security Instrument without further 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 to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Borro l °14 Z3 ,3 Z3 �3 ona c a to ate aren ate ate Seal Sea[ Acknowledgment State of Colorado County of —1t+k-A PN This instrument was acknowledged before me on_- - �-�3 _by ovV1 c 0 �c h a- _ Otary U -C o PRY My Comm ss on expires: -1- -1 �. q�OF,C o HCFG-00359 Co'_ORADO-S,9b Fam�y-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT F-3006 1/01 WM 03!13 Mite,,,Ku Fin-15ervirzs 201309204 1X02547-Ml30425Y Page 13 of 13 '34 tt3 17• I��N��Il�i�llll 1��1 N��I�N�I�II�II� RECEPTION#: 603944, On'23/2013 at 12:18:55 PM, 14 OF 16, Janice K. Vos Caudil: itkin County, CO EXHIBIT "A" LEGAL DESCRIPTION NORTH UNIT, GRACE PAUL CONDOMINIUMS, According to the Map thereof recorded October 25, 1982 in Plat Book 14 at Page 4 as Reception No.245001,and the Amended Map recorded September 21,1983 in Plat Book 15 at Page 37 as Reception No.253332,and as defined and described in the Condominium Declaration recorded November 8,1982 in Book 435 at Page 338 as Reception No. 245394. RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 15 OF 16, Janice K. Vos Caudil ?itkin County, CO Condominium Rider THIS CONDomNNM RIDER is made this 23rd day of September,2013,and is incorporated into and shall be deemed to amend and supplement the Mortgage,Deed ofTrust,or Security Deed(the"Security Instrument")ofthe same date given bu the undersigned(the "Borrower")to secure Borrower's Note to Wells Fargo Bank,N.A.(the "Lender")ofthe same date and covering the Property described in the Security Instrument and located at: 1415 Sierra Vista DR,Aspen,CO 81611 [Property Address) The Property includes a unit in,together with an undivided interest in the common elements of a Condominium Project ]mown as: The Grace Paul Condominiums [Name of Condominium Project] (the "Condominium Project").if the owners association or other entity which acts for the Condominium Project(the "Owners Association')holds title to property for the benefit or use of its members or shareholders,the Property also includes Borrower's interest in the Owners Association and the uses,proceeds and benefits of Borrowers interest. Condominium Covenants.In addition to the covenants and agreements made in the Security Instrument,Borrower and Lender further covenant and agree as follows: A.Condominium Obligations.Borrower shall perform all ofBorrower's obligations under the Condominium Project's Constituent Documents.The "Constituent Documents"are the:(i)Declaration or any other document which creates the Condominium Project,(ii)by-laws.(iii)code of regulations;and(iv)other equivalent documents.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 on the Condominium Project 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,from which Lender requires insurance,then:(i)Lender waives the provision in Section 3 for the Periodic Payment to Lender ofthe 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 terra of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the Master or Blanket policy. In the event ofa distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements,any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the Security lnstnunent,whether or not then due,with the excess,if any, paid to Borrower. R:.FC-000lo MJLTISfATE CONOOr INum RIDER-Singk Family-F-1,Mae/Fredd'ie Mac UNIFORM INSTRUMENT Form 3140 1/01 V.P 05112 ft ft e Kluwer Financial Services 2013052D4 1.0.2547-20130428V Pape 1 d 2 Pi— '343089 n-0 11 19' V RECEPTION#: 603944, 0^ 23/2013 at 12:18:55 PM, 16 OF 16, Janice K. Vos Caudil. 'itkin County, CO 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 alt or any part of the Property,whether of the unit or of the common elements,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 Lenders prior written consent, either partition or subdivide the Property or consent to:(i)the abandonment or termination of the Condominium Project, 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)termination 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 condominium 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 otherterms ofpayment,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 accepts and agrees to the terms and covenants contained in this Condominium Rider. Borr er 01f23113 9 a3 i3 ona c ate ate Karen frell Date c Seal Seal HC 00010 MJ'.TISTATE C0H0 IDM RIDER-Slgg Family-Fannie UNIFORM IHSTRI-7 Foam 31401/01 VMPW 0512 NbMrs gw.er Financial Serv.rns 201309204 1.C.25C]-JYJ130926V FSg.2 012 IIIIINIIIIIfN�ININIII�I��i� N NIII�NIaNIIN�f RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 1 OF 16, R S°5.00 Janice K. Vos Caud.` Pitkin County, CO Return To:Wells Fargo Bank,N.A. FINAL DOCUMENTS T7408-01 F 4101 Wiseman Blvd Bldg 108 San Antonio,TX 78251-4200 Prepared By:RUTH U PALMER 9780 S MERIDIAN BLVD 2ND FL ENGLEWOOD,CO 80112-5910 Deed of Trust Definitions.Words used in multiple sections ofthis document are defined below and otherwords are defined in Sections 3,11,13,18,20 and 21.Certain rules regarding the usage of words used in this document are also provided in Section 16. l;O (A) "Security Instrument°means this document,which is dated September 23,2013,together with all Riders to this m document. (B) 'Borrower"is Ronald 0 Schaftel and Karen S Schaftel.husband and wife;as Joint Tenants.Borrower is the (J tnrstor under this Security Instrument. (C) "Lender"is Wells Fargo Bank,N.A..Lender is a corporation organized and existing under the laws of United States of America.Lenders address is 101 North Phillips Avenue,Sioux Falls,SD 57104.Lender is the beneficiary under this Security Instrument. (D) "Trustee"is the Public Trustee of Pitkin County,Colorado. (E) "Note"means the promissory note signed by Borrower and dated September 23,2013.The Note states that Borrower owes Lender one million five hundred seventy five thousand and 00/100 Dollars(U.S.$1,575,000.00)plus interest.Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than October 1,2043. (F) 'Property"means the property that is described below under the heading"Transfer of Rights in the Property." (G)'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. (H) 'Riders"means all Riders to this Security Instrument that are executed by Borrower.The following Riders are to be executed by Borrower[check box as applicable]: ❑ Adjustable Rate Rider E) Condominium Rider [Second Home Rider ❑ Balloon Rider ❑ Planned Unit Development Rider 01-4 Family Rider ❑ VA Rider ❑ Biweekly Payment Rider ❑Other(s)[specify] NGFG-00359 Form 3006 1101 COLORADO-Smgk Familv-Fanme~Frwa.Mac UNIFORM INSTRUMENT 03/13 VMPD Page 1 d 13 Mh—K1—Financial Services 20'303204.1.0.:54]-J20130425V '34 089113 iT IIN�NI�IINI�� IIIIINNNI�IININiI �N �HN1 RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 2 OF 16, Janice K. Vos Caudil ">itkin County, CO (I) "Applicable Law"means 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. (J) "Community Association Dues.Fees,and Assessments"means all dues,fees,assessments and other charges that are imposed on Borrower orthe Property by a condominium association;homeowners association or similar organization. (Iq "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 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. (L)"Escrow Items"means those items that are described in Section 3. (M) `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 and/or condition of the Property. (N) 'Mortgage Insurance"means insurance protecting Lender against the nonpayment of,or default on,the Loan. (0)`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. (P)"PESPA"means the Real Estate Settlement Procedures Act(12 U.S.C.Section 2601 et seq.)and its implementing regulation,Regulation X(12 C.F.R Part 1024),as they might be amended from time to time,or any additional or successor legislation or regulation that governs the same subject matter.As used in this Security 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. (Q)"Successor in Interest of Borrower-means any party that has taken title to the Property,whether or not that party has assumed Borrowers obligations under the Note and/or this Security Instrument. Transfer of Rights in the Property.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[Type of Recording Jurisdiction]of Pitkin(Name of Recording Jurisdiction]:Attach legal description Parcel ID Number. which currently has the address of 1415 Sierra Vista DR[Street]Aspen[City],Colorado 81611[Zip Code]("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property,and all easements,appurtenances, and fixtures now or hereafter apart of the property.All replacements and additions shall also be covered by this Security Instrument.All of the foregoing is referred to in this Security Instrument as the"Property." BORROWER 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 will defend generally the title to the Property against all claims and demands,subject to any encumbrances of record and liens for taxes for the current year not yet due and payable. NCFG-W359 Form 30D6 1,D1 COLORADO-Single Famoy-Fan Mae/FFe dle Mac UNIFORM INSTRUMENT 03!13 yMpy F'a9e 2 of 13 Nblltts Kl-1 Financial Services 2'J130920d 1.0 256]-,1201 3 0 6 2 6Y -313oas1+3lr II��II�INII� III��II�II�III��IiIIII�IH�II Hlll ftln''' RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 3 OF 16, Janice K. vos Caudil' litkin County, CO 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 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 2,all payments accepted and applied by Lender shall be applied 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.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 amount 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 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 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 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 orground 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 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." HGFG-00359 Form 30061/01 COLORADO-Single Family-Fannie MaelFreddle Mac UNIFORM INSTRUMENT 03113 VMP® 201309204.1 0.2547-J2013042 Page 3&13 Mk,m riV Financial Serv— 13217• IIIINIII1IA1II�iullHllplfl�ll�ll� RECEPTION#: 603944, 09/23/2013 at 12:16:55 PM, 4 OF 16, Janice K. Vos Caudil.' yitkin County, CO 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 Borrowers 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 and applying the Funds,annually analyzing the escrow account,or verifying 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 in writing,however,that interest shall be paid on the Funds.Lender shall give to Borrower,without charge,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 notife 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 no more than 12 monthly payments. Upon payment in full of 0 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 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 MCFG 003% Form 3DW 4/01 COLORADO-Shgk Famiy-Fannie MaelF—d.Mac UNIFORM INSTRUMEM D3 3 VMPD 2013 2D4.1.D 2517-=13D426V Page 4 d 13 NbRars qne1 FinanGal Services •34 DB9113 7• Il�b �lI{I�� lea �Illb{l{�I�HII{pia RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 5 OF 16, Janice K. Vos Caudil' 'itkin County, CO 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 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.'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 Lenders 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-tune charge for flood zone determination,certification and tracking services;or(b)a one-time 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 Lenders option and Borrowers 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,Borrowers 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 Lenders 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 Lenders 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 eamrngs on such proceeds. HCFG-00359 Form 3006 1101 COLORADO-Single UNIFORM INSTRUMENT 03113 VM 20t 303204 1 C 2 Page 5 d 13 Nblters y0uwei FinarK1al S i— .54]-J20130026Y '303083113217 �1111111�11�� I Nils III VIII IAN NIA Ilhl Ilia UI�Ilal I RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 6 OF 16, Janice K. vos Caudil' litkin County, CO 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,Lendermay 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 assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid 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 Propery.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 unreasonablv withheld,or unless extenuating circumstances exist which are beyond Borrowers 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 is 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 disburse 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 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 Borrowers 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 ofthe Property as Borrowers 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 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 IICFG-00359 Frnm 3006 1f01 COLORADO-Sing*Family-Fannie MWF—d,E Mac UNIFORM INSTRUMENT 03113 VMPV 2013092041.0 IAA_0130420Y Pa9e5o11S Nbkers gw.er Finazial Servwes •;,43069113 17' � �INI��IN�II�II� ItININ�HI��1111I�� RECEPTION#: 603944, 0Q/23/2013 at 12:18:55 PM, 7 OF 16, Janice K. Vos Caudil" litkin County, CO 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)paving 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.eliminate 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 anv duty or obligation to do so.It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Anv 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 acquires 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 altemate 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 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 and for the period that Lender requires)provided by an insurer selected 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 Lenders 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 Borrowers 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 might be characterized as)aportion of Borrowers payments for Mortgage Insurance,in exchange for sharing or modifying the mortgage insurers HCFG-D7359 Form 3006 1/01 COLORADO-Single Family-Fannie—AF 61 Mac UNIFORM INSTRUMENT 03/13 V'PS 2C13M234.1 0.2647-?C'33426Y Page 7 of 13 Vrbaers Kluwer Finarcia!Servies -3g30>�1:3 11' RECEPTION#: 603944, OQ/23/2013 at 12:18:55 PM, 8 OF 16, Janice K. Vos Caudil- 'itkin County, CO risk,or reducing losses.If such agreement provides that an affiliate of Lender takes a share ofthe 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. Ifthe Property is damaged,such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property,ifthe 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 Miscellaneous 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 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 required to pay Borrower any interest or earnings on such Miscellaneous Proceeds.If the restoration or repair is not economically feasible or Lenders 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 Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking,destruction,or loss in value ofthe 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 ofthe Property in which the fair market value ofthe Property immediately before the partial taking,destruction,or loss in value is equal to or greater than the amount ofthe sums secured by this Security Instrument immediately before the partial taking,destruction,or loss in value,unless Borrower and Lender othenvise 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 ofthe 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 ofthe Property in which the fair market value ofthe Property immediately before the partial taking,destruction,or loss in value is less than the amount ofthe 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 ofthe Property orto the sums secured by this Security Instrument,whether or not then due."Opposing HCFG 06 00359 F-301101 COLORADO-SMg Family-Fannie Mae/F,ddie Mac UNIFORM INSTRUMENT 03113 Wpp Page a 0113 Nbkers Wu..e Financial S.1- 20130320d.1.0.2547 J20130426V I1pI1 �I'p,�,,'kpn■p1� '3A 0111 q 'II�INNNI�II�IM IIINNINNNlIIN1 NINI�� RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 9 OF 16, Janice K. Vos Caudil: 'itkin County, CO 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 Lenders judgment, could result in forfeiture of the Property or other material impairment of Lenders 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 ofthe time for payment or modification of amortization o£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 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;.Successors and Assigns Bound.Borrower covenants and agrees that Borrowers 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 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,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 19,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 Borrowers rights and benefits under this Security Instrument.Borrower shall not be released from Borrowers obligations and liability under this Security Instrument unless Lender agrees to such release in writing.The covenants and agreements ofthis Security Instrument shall bind(except as provided in Section 20)and benefit the successors and 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 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 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 making a direct payment to Borrower.If a refund HCFG.DD359 F-30061101 CDLORPUO-Single Family-Fannie Maerreddie Mac UNIFORM INSTRUMENT oy s VMP® 2013W2G4 1.D.2547 J2013G426Y Page 9 0113 Nbkers q✓..er�inaricul Services •343pti9113217' INII�NINK�I�I��l�III�N��IIINI8�1�11�1� RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 10 OF 16, Janice K. Vos Caudil: litkin County, CO 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 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 anv 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 Borrowers 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 Lenders 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 Security Instrument shall be 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 contractor it might be silent,but such silence shall not be construed as a 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 Security 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 ofthe Note and ofthis 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 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 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.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 Borrower must pay all 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 HCFG-00359 Form.3006 VM COLORADO-Smgk Famiy-Fannin Mae/Fre d*Mac UNIFORM INSTRUMENT 03113 VM NUUhcrs Klw+er Financial Services 201309204 1.0.2547-n0130426Y Irlrrn'�� Pape 10 00 N 13 III�If�N�III��IHI � RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 11 OF 16, Janice K. Vos Caudil. ?itkin County, CO Applicable Law might specify for the termination of Borrowers 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 attomeys'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 Borrowers 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 ofthe following forms,as selected by Lender:(a)cash,(b)money order;(c)certified check_bank check,treasurer's check or cashiers 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 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 ofthe Loan Servicer unrelated to a sale ofthe Note.If there is a change ofthe Loan Servicer,Borrower will be given written notice ofthe 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 ofthe 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 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 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 ofthis Section 20, 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 ofthe 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 acondition that can cause,contribute to.or otherwise tnggeran Environmental Cleanup. Borrower shall not cause or permit the presence,use,disposal,storage,or release of any Hazardous Substances,or threaten to release anv 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. H�FG-00359 Form 3006 1/01 COLORADO-Single F—iy-Fannie Mac UNIFORM INSTRUMENT O 13 vMP® Page 11 of 13 vbK—Kl—Financial Smites 201308204.1 0 2547-J20130426Y '3430t�tt3217' 1111 11111111111111111111��I� RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 12 OF 16, Janice K. Vos Caudil: 'itkin County, CO or(c)which.due to the presence,use,or release of a Hazardous Substance.creates a condition that adversely affects the value of the Propem'.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 ofwhich 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 anv 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 result in acceleration of the sums 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 foreclosure proceeding 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 immediate payment in full of all sums secured by this Security Instrument without further 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 15. Trustee shall record a copy of the notice in the county in which the Property is located. Trustee shall publish a notice of sale for the time 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 time 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 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. HGFG-00359 Foam 3006 1V ae CO�ORA00-Singk Far-xN-Fannie Mr—d,,Mac UNIFORM INSTRUMENT 03/13 VMPp Page 120113 Nb!rs Kl.wer Fnan 15ervims 20730920d.10.'w`4 i.R07304 Z6V '3E306911 I�Ilaalllll�ll�ll�llll�lll� � RECEPTION#: 603944, 0^'23/2013 at 12:18:55 PM, 13 OF 16, Janice K. vos Caudil: 'itkin County, CO 23.Release.Upon payment of all sums secured by this Security Instrument.Lender shall request that Trustee release this Securit} Instrument and shall produce for Trustee,duly canceled,all notes evidencing debts secured by this Security Instrument.Trustee shall release this Security Instrument without further 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 to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Borro 123 13 9-2 3 ,3 ate aren ate ate --r— Ronald c a to Seal eal Acknowledgment State of Colorado County of 7B(fki v-\ This instrument was acknowledged before me on 13 by ^ NwEhS O: ZPPY otary u c My Comm ss on expires: t •'X, J. .o oF.�� HCFG-00359 Form 3006 1/01 COLORADO-S gIF F—ty-Fannie M.,lF d,, Mac UNIFORM INSTRUMENT QSH3 VMr'V Page 13 d 13 MbXers q�+er Flnanc'al Selvlws 201306204 1 0 2547-JZ0t 30425V -3430 tt31]• ��u�l�II�I� I��N��IIIN�II��II� �NI III RECEPTION#: 603944, 0 0/23/2013 at 12:18:55 PM, 14 OF 16, Janice K. Vos Caudil ?itkin County, CO EXHIBIT"A" LEGAL DESCRIPTION NORTH UNIT, GRACE PAUL CONDOMINIUMS, According to the Map thereof recorded October 25, 1982 in Plat Book 14 at Page 4 as Reception No.245001,and the Amended Map recorded September 21,1983 in Plat Book 15 at Page 37 as Reception No.253332,and as defined and described in the Condominium Declaration recorded November 8,1982 in Book 435 at Page 338 as Reception No. 245394. RECEPTION#: 603944, 09/23/2013 at 12:18:55 PM, 15 OF 16, Janice K. vos Caudill itkin County, CO Condominium Rider THIS CONDOMINIUM RIDER is made this 23rd day of September,2013,and is incorporated into and shall be deemed to amend and supplement the Mortgage,Deed of Trust.or Security Deed(the"SecuritvInstrument")ofthe same date given by the undersigned(the "Borrower")to secure Borrower's Note to Wells Fargo Bank,N.A.(the "Lender")of the same date and covering the Property described in the Security Instrument and located at: 1415 Sierra Vista DR,Aspen,CO 81611 [Property Address] The Property includes a unit in,together with an undivided interest in the common elements o£a Condominium Project known as: The Grace Paul Condominiums [Name of Condominium Project] (the "Condominium Project').If the owners association or other entity which acts for the Condominium Project(the "Owners Association')holds title to property for the benefit or use of its members or shareholders,the Property also includes Borrowers interest in the Owners Association and the uses,proceeds and benefits of Borrowers interest. Condominium Covenants.In addition to the covenants and agreements made in the Security instnunent,Borrower and Lender further covenant and agree as follows: A.Condominium Obligations.Borrower shall perform all of Borrowers obligations under the Condominium Project's Constituent Documents.The "Constituent Documents"are the:(i)Declaration or any other document which creates the Condominium Project:(ii)by-laws;(iii)code of regulations;and(iv)other equivalent documents.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 on the Condominium Project which is satisfactoryto Lender and which provides insurance coverage in the amounts(including deductible levels),for the periods,and against loss by fire,hazards included within the tern "Extended Coverage,"and any other hazards,including,but not limited to,earthquakes and floods,from 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 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, whether to the unit or to common elements,any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument.whether or not then due,with the excess,if any paid to Borrower. HCFu-00010 Form 3140 1/01 MutTisl E Cory 111 RIDER-S.rg Family-Fannie Mae/FIe dW Mac UN"-'-INSTmJM-cuT 05112 VMP® Fape 1&2 Wolters qurer Financial Services 201306204 1.0.254 i.,)20t 30425Y I�IIIII�gIIiNI� V��9HINA��I�NII��11 RECEPTION#: 603944, 00/23/2013 at 12:18:55 PM, 16 OF 16, Janice K_ Vos Caudil ?itkin County, CO 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,whether of the unit or of the common elements,or for any conveyance in lieu ofcondemnation,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:(i)the abandonment or termination of the Condominium Project, 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)termination 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 condominium 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 otherterms ofpa}mtent,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 BLLOw,Borrower accepts and agrees to the terms and covenants contained in this Condominium Rider. Borr er 01��3I13 9a3 �3 ona c a to ate Karen SEcrell - ate Seal Seal HIFG D0010 WJLiI—E CauDw 1—RIDER-Sn9k Family FO 3140 1101 v.PO 0512 Mtt—Klu..er Floe 4 S 201309204 1.0.2547-M130426v Fag.2.12 i�113 IIIIIIIIl�Illulllll�dlll � �I��I�IIi�I� /j IN' 1� 6 2014 COAIMUNITYD OP 1 Agreement to Pay Application Fees Anagreement between the City of Aspen ("City")and Prop ert Phone No.: Owner "I" ) " � ET Address of ( � G,� � Z Billing Property: ` ` Address: (subject of A6;2�\t Ca (send bills here) application) I understand that the City has adopted, via Ordinance No. , Series of 2011, review fees for Land Use applications and the payment of these fees is a condition precedent to determining application completeness. I understand that as the property owner that I am responsible for paying all fees for this development application. For flat fees and referral fees: I agree to pay the following fees for the services indicated. I understand that these flat fees are non-refundable. $0 ®flat fee for Select Dept $0 Edflat fee for-Select Dept $0 ®flat fee for Select Dept $0 3flat fee for Select Review For deposit cases only: The City and I understand that because of the size, nature or scope of the proposed project, it is not possible at this time to know the full extent or total costs involved in processing the application. I understand that additional costs over and above the deposit may accrue. I understand and agree that it is impracticable for City staff to complete processing, review, and presentation of sufficient information to enable legally required findings to be made for project consideration, unless invoices are paid in full. The City and I understand and agree that invoices mailed by the City to the above listed billing address and not returned to the City shall be considered by the City as being received by me. I agree to remit payment within 30 days of presentation of an invoice by the City for such services. I have read, understood, and agree to the Land Use Review Fee Policy including consequences for non-payment. I agree to pay the following initial deposit amounts for the specified hours of staff time. I understand that payment of a deposit does not render an application complete or compliant with approval criteria. If actual recorded costs exceed the initial deposit, I agree to pay additional monthly billings to the City to reimburse the City for the processing of my application at the hourly rates hereinafter stated. $ ,5O •DO deposit for hours of Community Development Department staff time. Additional time above the deposit amount will be billed at$325 per hour. $ 0 deposit for 0 hours of Engineering Department staff time.Additional time above the deposit amount will be billed at$265 per hour. City of Aspen: Property Owner: Chris Bendon Community Development Director Name:f,6,,,1> V .-_-�-,14A City Use: 0 Title: Fees Due:$ Received:$ app2-.2©l� •�rr.Ul CITY OF ASPEN �.INt1 PRE-APPLICATION CONFERENCE SUMMARY =. 3W�aG O �liQ PLANNER: "'u' U OF PROJECT: REPRESENTATIVE: REQUEST: Residential Design Standard (RDS)Variances DESCRIPTION: The applicant requests a residential design standard variances for section 26.410.040.D.3.a: 1. Street-facing windows between 9-12 feet above the finished floor. The proposal includes exterior changes to the door and new glass doors on a second floor. Staff will accept an application for administrative review. The following two criteria are used in determining the appropriateness of a variance: a. Provide an appropriate design or pattern of development considering the context in which the development is proposed and the purpose of the particular standard. In evaluating the context as it is used in the criteria, the reviewing board may consider the relationship of the proposed development with adjacent structures, the immediate neighborhood setting or a broader vicinity as the board feels is necessary to determine if the exception is warranted; or b. Be clearly necessary for reasons of fairness related to unusual site-specific constraints. If staff cannot support administrative approval, application can be made to the Planning and Zoning Commission. Below are links to the Land Use Application form and Land Use Code for your convenience: Land Use App: htt ://www.as en itkin.com/Portals/0/docs/Cit /Comdev/A s%20and%2OFees/2013%2Oland %20use%20app%20form.pdf Land Use Code: ts/Communit -Develo ment/Plannin -and-Zonin /Title-26- http://www.aspenpitkin.com/Departmen Land-Use-Code/ Relevant Land Use Code Section(s): 26.306 Common Development Review Procedures 26.410 Residential Design Standards Review by: Community Development for determination of completeness Public Hearing: Not required Planning Fees: Total Deposit: 1 To apply, submit 2 copies of the following information: ,I Completed Land Use Application. • Signed fee agreement. • Total deposit for review of the application. i Pre-application Conference Summary. -� Applicant's name, address and telephone number in a letter signed by the applicant that states the name, address and telephone number of the representative authorized to act on behalf of the applicant. Street address and legal description of the parcel on which development is proposed to occur, consisting of a current certificate from a title insurance company, or attorney licensed to practice in the State of Colorado, listing the names of all owners of the property, and all mortgages, judgments, liens, easements, contracts and agreements affecting the parcel, and demonstrating the owner's right to apply for the Development Application. A written description of the proposal and an explanation in written, graphic, or model form of how the proposed development complies with the review standards relevant to the development application. 4,Existing and proposed plans and elevations. '1- An 8 1/2" by 11" vicinity map locating the parcel within the City of Aspen. Disclaimer: The foregoing summary is advisory in nature only and is not binding on the City. The summary is based on current zoning, which is subject to change in the future, and upon factual representations that may or may not be accurate. The summary does not create a legal or vested right. 2 THE CITY OF ASPEN Land Use Application Determination of Completeness Date: January 10,2014 Dear City of Aspen Land Use Review Applicant, We have received your land use application and reviewed it for completeness. The case number and name assigned to this property is 0002 2014 ASLU — 1415 Sierra Vista design variances. Your planner assigned to the case is Sara Nadolny. ;�(Your Land Use Application is incomplete: Please submit the aforementioned missing submission items so that we may begin reviewing your application. No review hearings will be scheduled until all of the submission contents listed above have been submitted and are to the satisfaction of the City of Aspen Planner reviewing the land use application. 1. Current proof of ownership. A title report or ownership and encumbrance report that shows the Schaftels own the property rather than Jill Uris. 2. A homeowner association compliance form as the property is a condominium. ❑ Your Land'Use Application is complete: If there are not missing items listed above, then your application has been deemed complete to begin the land use review process. Other submission items may be requested throughout the review process as deemed necessary by the Community Development Department. Please contact me at 429-2759 if you have any questions. T You, ennifer P la , Deputy Director City of Asp , Community Development Department rMineral Use Only: Qualifying Applications: ights Notice Require d New SPA New PUD No�� Subdivision, SPA,or PUD (creating more than 1 additional lot)Qlotments Residential Affordable Housing Yes No Commercial E.P.F. Lodging