asp.net Could not load file or assembly 'Telerik.Web.UI, Version=2012.3.1016.40

I am having this error when I debug this website for the first time. I tried changing my version in my webconfig to the version that is in my references folder but no luck. unless I am doing something wrong.The website works on the server just fine. Not sure why I can't run it on my local computer. Can anyone assist please?

    Parser Error

Description: An error occurred during the parsing of a resource required to service this request. Please review the following specific parse error details and modify your source file appropriately. 

Parser Error Message: Could not load file or assembly 'Telerik.Web.UI, Version=2012.3.1016.40, Culture=neutral, PublicKeyToken=121fae78165ba3d4' or one of its dependencies. The located assembly's manifest definition does not match the assembly reference. (Exception from HRESULT: 0x80131040)

Source Error: 


Line 1:  <%@ Control Language="C#" AutoEventWireup="true" CodeBehind="MainMenu.ascx.cs" Inherits="Risk_Registers.MainMenu" %>
Line 2:  <%@ Register Assembly="Telerik.Web.UI" Namespace="Telerik.Web.UI" TagPrefix="telerik" %>
Line 3:  

Source File: /MainMenu.ascx    Line: 1 

Assembly Load Trace: The following information can be helpful to determine why the assembly 'Telerik.Web.UI, Version=2012.3.1016.40, Culture=neutral, PublicKeyToken=121fae78165ba3d4' could not be loaded.


=== Pre-bind state information ===
LOG: DisplayName = Telerik.Web.UI, Version=2012.3.1016.40, Culture=neutral, PublicKeyToken=121fae78165ba3d4
 (Fully-specified)
LOG: Appbase = file:///C:/Users/dangt/HES Risk Registers/Risk Registers/
LOG: Initial PrivatePath = C:\Users\dangt\HES Risk Registers\Risk Registers\bin
Calling assembly : Risk Registers, Version=2012.2.724.0, Culture=neutral, PublicKeyToken=null.
===
LOG: This bind starts in default load context.
LOG: Using application configuration file: C:\Users\dangt\HES Risk Registers\Risk Registers\web.config
LOG: Using host configuration file: 
LOG: Using machine configuration file from C:\Windows\Microsoft.NET\Framework\v4.0.30319\config\machine.config.
LOG: Post-policy reference: Telerik.Web.UI, Version=2012.3.1016.40, Culture=neutral, PublicKeyToken=121fae78165ba3d4
LOG: Attempting download of new URL file:///C:/Users/dangt/AppData/Local/Temp/Temporary ASP.NET Files/root/80d173ca/a5cf8a4d/Telerik.Web.UI.DLL.
LOG: Attempting download of new URL file:///C:/Users/dangt/AppData/Local/Temp/Temporary ASP.NET Files/root/80d173ca/a5cf8a4d/http://ift.tt/2bhdUsS.
LOG: Attempting download of new URL file:///C:/Users/dangt/HES Risk Registers/Risk Registers/bin/Telerik.Web.UI.DLL.
WRN: Comparing the assembly name resulted in the mismatch: Major Version
ERR: Failed to complete setup of assembly (hr = 0x80131040). Probing terminated.

Version Information: Microsoft .NET Framework Version:4.0.30319; ASP.NET Version:4.6.1055.0