Fill and Sign the Colorado Promissory Note for Deed of Trust Form

NTD 81 -10 -06. PROMISSORY NOTE Page 1 of 2 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. 1 (NTD81 -10-06) (Man datory 1 -0 7) 2 3 IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTI ON, CONSULT LEGAL COUNSEL. 4 THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL , TAX OR OTHER COUNSEL SHOULD BE CONSULTED 5 BEFORE SIGNING. 6 7 PROMISSORY NOTE 8 9 U.S. $ _____________________ ___________________________, 10 Colorado 11 12 Date: _______________________________ 13 14 15 1. FOR VALUE R ECEIVED, the undersigned (Borrower) promise(s) to p ay 16 __________________________________________ (Note Holder) or order, the principal sum of 17 _______________________________________________________ ___ __ Dollars, with interest on the unpaid principal 18 balanc e from ______________________, until paid, at the rate of _______ percent per annum. Principal and interest shall be 19 payable at ________________________________________ _______, or such other place as Note Holder may designate, in 20 _______ payments of _____ _______ _________________________ _____________ Dollars (U.S. $ _____________), due o n 21 the ____ day of each __________, beginning ________ _____________. Such payments shall continue until the entire 22 indebtedness evidenced by this Note is fully paid; provide d, however, if not sooner paid, the entire principal amount 23 outstanding and accrued interest thereon, shall be due and payable on _______________________. 24 25 26 27 28 2. Borrower shall pay to Note Holder a late charge of _____ % of any payment not receiv ed by Not e Holder within ________ 29 days after the payment is due. 30 31 3. Payments received for application to this Note shall be applied first to the payment of late charges, if any, second to the 32 payment of accrued interest at the default rate specified below, if any , third to accrued interest first specified above, and the 33 balance applied in reduction of the principal amoun t hereof. 34 35 4. If any payment required by this Note is not paid when due, or if any default under any Deed of Trus t securing this Note 36 occurs, the entire principal amount outstanding and accrued interest thereon shall at once become due and payable at the option 37 of Note Holder (Acceleration); and the indebtedness shall bear interest at the rate of ________ percent per annum fr om the date 38 of default. Note Holder shall be entitled to collect all reasonable costs and expense of collection and/or suit, including, b ut not 39 limited to reasonable attorneys ’ fees. 40 41 5. Borrower may prepay the principal amount outsta nding under this Note, in whole or in part, at any time without penalty 42 except 43 44 45 46 47 48 49 Any partial prepayment shall be applied against the principal amount outstanding and shall not postpon e the due date of any 50 subsequent payments or change the amount of such pa yments. 51 52 6. Borrower and all other make rs, sureties, guarantors, and endorsers hereby waive presentment, notice of dishonor and 53 protest, and they hereby agree to any extensions of time of payment and partial payments before, at, o r after maturity. This 54 Note shall be the joint and several obliga tion of Borrower and all other makers, sureties, guarantors and endorsers, and their 55 successors and assigns. 56 57 NTD 81 -10 -06. PROMISSORY NOTE Page 2 of 2 7. Any notice to Borrower provided for in this Note shall be in writing and shall be given and be effective upon (a) delivery to 58 Borrower or (b) by mailing such notice by first class U. S. mail, a ddressed to Borrower at Borrower’s address stated b elow, or 59 to such other address as Borrower may designate by notice to Note Holder. Any notice to Note Holder shall be in writing and 60 shall be given and be effective upon (a) delivery to Note Holder or (b) by mailing such notice by first class U.S. mail, to Note 61 Holder at the address stated in the first paragraph of this Note, or to such other address as Note Hol der may designate by notice 62 to Borrower. 63 64 8. The indebtedness evidenced by this Note is secured by a Deed of Trust dated _________________________ ______, and 65 until released said Deed of Trust contains additional rights of Note Holder. Such rights may cause Acc eleration of the 66 indebtedness evidenced by this Note. Reference is made to said Deed of Trust for such additional terms. Said Deed of Trust 67 grants rights in the following legally described property located in the __________ County of _______________ _________, 68 State of Colorado : 69 70 71 72 known as No. _ ___________________________________________________ ____________________ ( Property Address ). 73 Street Address City State Zip 74 75 76 (CAUTION: SIGN ORIGINAL NOTE ONLY/RETAIN COPY) 77 78 79 IF BO RROWER IS NATURAL PERSON(S): 80 81 ___________________________________ ___________________________________________________ 82 83 ___________________________________ doing business as _________________________________ ___ 84 85 IF BORROWER IS CORPORATION: 86 87 ATTEST: ___________________________________________________ 88 Name of Corporation 89 90 __________________________________ By ________________________________________________ _ 91 Secretary President 92 93 (SEAL) 94 95 IF BORROWER IS PARTNERSHIP: ___________________ _________________________________ 96 Name of Partnership 97 98 99 By _________________________________________________ 100 General Partner 101 102 Borrower ’s address: _______________________________________________________ ______________________________ 103 104 ___________________________________________________ _______________________________ 105 __ 106 107 108 KEEP THIS NOTE IN A SAFE PLACE. THE ORIGINAL OF THI S NOTE MUST BE EXHIBITED TO THE 109 PUBLIC TRUSTEE IN ORDER TO RELEASE A DEED OF TRUST SEC URING THIS NOTE. 110 111