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RECORDATION REQUESTED BY:
FIRST NATIONAL BANK - WEST
Alpine
100 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128
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WHEN RECORDED MAIL TO:
FIRST NATIONAL BANI< - WEST
Alpine
1 00 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128
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RECEIVED 11/18/2005 at 11 :57 AM
RECEIVING # 913834
BOOK: 605 PAGE: 283
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SEND TAX NOTICES TO:
FIRST NATIONAL BANK· WEST
Alpine
100 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONL Y
MORTGAGE
THIS MORTGAGE dated November 15, 2005, is made and executed between DAVID S. JENI<INS, whose address
is PO BOX 3001, ALPINE, WY 83128 (referred to below as "Grantor") and FIRST NATIONAL BANI< _ WEST,
whose address is 100 Greys River Rd., P.O. Box 3110, Alpine, WY 83128 (referred to below as "Lender").
GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to Lender all of Grantor's right, title, and interest in and to
the following described real property, together with all existing or subsequently erected or affixed buildings, improvements ami fixtures; all
easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or
irrigation rights); and all other rights, royalties, and profits relating to the real property, including without lirnitation all minurals, oil, gas,
geothermal and similar matters, (the "Real Property") located in LINCOLN County, State of Wyoming:
LOT 8 OF SALT RIVER COVE, DIVISION NO.1, liNCOLN COUNTY. WYOMING AS DESCRIBED ON THE
OFFICIAL PLAT THEREOF. '
The Real Property or its address is commonly knownas LOT 8 SALT RIVER COVE, ALPINE, WY 83128.
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Grantor presently assigns to Lender all of Grantor's right,title, and interest in and to :all present and future leases of the Property amf all Rents
from the Property. In addition, Grantor grants to Lender a Uniform Commercial CodE! sec'urity interest in the Personal Property and nents.
THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS
GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,
THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to Lender all amounts secured by this
Mortgage as they become due and shall strictly perform all of Grantor's obligations under this Mortgage.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by
the following provisions:
Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2)
use. operate or manage the Property; and (3) collect the Rents from the Property.
Duty to Maintain. Grantor shall maintain the Property in good condition and promptly perform all repairs, replacements, and maintenance
necessary to preserve its value.
Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of
the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened rl"le"se of any Hazardous
Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe that there has
been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws,
(b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under,
about or from the Property by any prior owners or o·ccupants of the Property, 'or Icl any actual or threatened litigation or claims of any
kind by any person relating to such matters; and (3) Except as previously disclosei] to and acknowledged by Lender in writing, (a) neither
Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of
or release any Hazardous Substance on, under, about or from the Property; ami (b) any such activity shall be comlucted in compliance
with all applicable federal, state, and local laws, regulations and ordinances,' including without limitation all Environmental Laws. Grantor
authorizes Lender and its agents to enter upon the Pròperty to make such inSI:iectiorls and tests,"at'Grantor's expense, as Lemler may deem
appropriate to determine compliance of the Property with this section of the Mortgage. Any inspections or tests made by Lender shall be
for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Grantor or to any other
person. The representations and warranties contained herein are based on Grantor's due diligence in investigating the Property for
Hazardous Substances. Grantor hereby (1) releases and waives any future cla.ims against Lender for indemnity or contribution in the
event Grantor becomes liable for cleanup or other costs under an'y suchlavvs; and (2) agrees to indemnify and hold harmless Lender
against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer
resulting from a breach of this section of the Mortgage oras a consequence,of any use, generation, manufacture, storage, disposal, release
or threatened release occurring prior to Grantor's ownership or interest in the Pròperty, whether or not the same was or should have been
known to Grantor. The provisions of this section of the Mortgage, including the obligation to indemnify, shall su'vive the payment of the
Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and shall not be affected by Le.lder's acquisition of any
interest in the Property, whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit ariy nuis¡Jncenor ,commit, permit, or suffer any stripping of or waste on or to
the Property or any portion of the Property. Without limiting thl) generality of the foregoing, Grantor will not remove, or grant to any other
party the right to remove, any timber, minerals (including oil ami gas), coiil, clay, scoria, soil, gravel or rock products without Lender's prior
written consent.
Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory to Lender to
replace such Improvements with Improvements of at least equal value.
Lender's Right to Enter. Lender and Lender's agents and represent.atives may, enter upon the Real Property at all reasonable times to attend
to Lender's interests and to inspect the Real Property for purposes of, Grantor's compliance with the terms and conditions of this Mortgage.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or here,'¡ter
in effect, of all governmental authorities applicable to the use or occupancy of the Property. Grantor may contest in good faith any such
law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified
Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender
may require Grantor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those
acts set forth abOve in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the
Property.
TAXES AND LIENS. The following provisions relating to the taxes and liens onthe Property are part of this MortÇJage:
Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, payroll taxes, special taxes, assessrnents, water
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MORTGAGE;
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Loan No: 764003304
Page 2
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charges and sewer service charges levied against or on 'account of the Property, Jnd shall pay when due all claims for work done on or for
services rendered or material furnished to the Property, Grantor shall maintain the Property free ot any liens having priority over or equal to
the interest of Lender under this Mortgage, except for the Existing Indebtedness referred to in this Mortgage or those liens specifically
agreed to in writing by Lender, and except for the lien of taxes and assessments not due as further specified in the Right to Cont'::St
paragraph.
Right to Contest. Grantor may withhold payment of any tax,assessment, or claim in connection with a gOOtJ faith dispute over the
obligation to pay, so long as Lender's interest in the Property is not jeopardized, If a lien arises or is fileel as a result of nonpayment,
Grantor shall within fifteen (15) days after the lien arises or, If a lien is filed, within flftcen 115) days after Grantor has notice of the filing,
secure the dischar(]e of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security
satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and reasonable attorneys' fees, or other char!Jes that
could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and shall sdtisfy ilny
adverse judgment before enforcement against the Property, Grantor Slldll name Lender as an additional obligee umler any surety bond
furnished in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against
the Property.
Notice of Construction, Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or
any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the
work, services, or materials, Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor
can and will pay the cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring the Property me a part of this Mortgage:
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application
of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Policies shall be written by such insurance companies
and in such form as may be reasonably acceptable to Lender, Grantor shall deliver to Lender certificates of coverage from each insurer
containing a stipulation that coverage will not be cancelled or diminished without a minimum of thirty (30) days' prior written notice to
Lender and not containing any disclaimer of the insurer's liability for failure to give such notice. Each insurance policy also shall include an
endorsement providing that coverage in favor of Lender .will not be impaired in ani way by any act, omission or default of Grantor or any
other person, Should the Rea! Property be located in an area designated by the Director of the Federal Emergency Mana(]ement Agency as
a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance
of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance
Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan.
Application of Proceeds, Grantor shall promptly notify Lender of any loss or damage to the Property if the estimated cost of repair or
replacement exceeds $1,000.00, Lender may make proof of loss if Grantor fails ¡odo so within fifteen (15) days of the casualty. Whether
or not Lender's security is impaired, Lender may, at Lender's election, receive and retain the proceeds ot any insurance and apply the
proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of the Property, If
Lender elects to apply the proceeds to restoration and repair, Grantor shall repair or replace the diJIllaged or destroyed Improv\;ments in a
manner satisfactory to Lender. Lender shall, upon satisfactory proofç¡f suc:h expenditure, JJy or reimburse Grantor from the proceeds for
the reasonable cost of repair or restoration if Grantor is not in defitult unpe.r this Mortgage, Any proceeds which have not been dislJLJfsed
witllln 180 days after their receipt and which Lender has not com'mitiei{ to the repair or restoration of the Property shall be used first to pay
any amount owing to Lender under this Mortgage, then to pay accrued interest, ami the remainder, if any, shall be applied to the principal
balance of the Indebtedness. If Lender holds any proceeds after paymp.nt in full of the Indebtedness, such proceeds shall be paid to Grantor
as Grantor's interests may appear.
Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is in effect, compliance with
the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the insurance
provisions under this Mortga(]e, to the extent compliance with the terms of this Mortgage would constitute a duplica\ion of insurance
requirement. If any proceeds from the insurance become payable Ol~ loss, the provisions in this Mortgage for division of proceeds shall
apply only to that portion of the proceeds not payable to the holder of the Existing Indebtedness.
LENDER'S EXPENDITURES. If Grantor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims,
(S) to provide any required insurance on the Property, (C) to make repairs to the Property or to comply with any obligation to maintain Existing
Indebtedness in good standing as required below, therl Lender may do so, If any action or proceeding is commenced that would materially
affect Lender's interests in the Property, then Lender on Grantor's behalf may, but is not required to, take any action that Lender believes to be
appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear interest at the rate charged
under the Note from !lIP. date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the
Indebtedness and, at Lender's option, will (A) be payable on demand; IS) be added to the balance of the Note and be apportioned among and
be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining
term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Mortgage also will secure
payment of these amounts, The rights provided for in this paragraph shall be in addition to any other rigbts or any remedies to which Lender
may be entitled on account of any default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any
remedy that it otherwise would have had.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Mortgage:
Title. Grantor warrants that: (a) Grantor holds good and marketable title of record to the Property in fee simple, free and clear of all liens
and encumbrances other than those set forth in the Real Property description or in the Existing Indebt(;dness section below or in any title
insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Mortgage, and Ib)
Grantor has the full right, power, and authority to execute and deliver this MOrl!Jage to Lender.
Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against
the lawful claims of all persons. In the event any action 0, proceeding is commenced that questions Grantor's title or the interest of Lender
under this Mortgage, Grantor shall defend the action at. Grantor's expense. Grantor may be the nominal party in such proceeding, but
Lender shall be entitled to participate in the proceeding aqd to be represented in the proceeding by counsel of Lender's own choice, and
Grantor will deliver, or cause to be delivered, to Lender such instrum\ènts 'as Lender mpy request from time to time to permit such
participation.
Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws,
ordinances, and regulations of governmental authorities. . ,
Survival of Promises. All promises, agreements, and statements Grantor has made in this Mortgage shall survive the execution and delivery
of this Mortgage, shall he continuing in nature and shall remain in full force and effect until such time as Grantor's Indebtedness is paid in
full.
EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Mortgage:
Existing Lien. The lien of this Mortgage securing the Indebtedness may be secondary and inferior to an existing lien, Grantor expressly
covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such indebtedness, any
default under the instruments evidencing such indebtedness, or any default Under any security documents for such indebtedness,
No Modification. Grantor shall not enter into any agreement with the holder of. any mortgage, deed of trust, or other security agreement
which has priority over this Mortgage by which that agreement is modified, amended, extended, or renewed without the prior written
consent of Lender. Grantor shall neither request nor accept any future advances under any such security agreemp.nt without the prior
written consent of Lender.
CON DEMNA TION, The following provisions relating to condemnatioh proce~dings, are ap~rl 0 f this Mortgage:
Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and GrantDr shall promptly take
such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding, but
Lender shall be entitled to participate in the proceeding and to be represented in the proceedillÇJ by counsel of its own chuice, and Grantor
will deliver or cause to be delivered to Lender such instruments and documentation as may be r8qu8stecl by Lender from time to time to
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Loan No: 764003304
MORTGAGE
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permit such participation.
Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied to
the Indebtedness or the repair or restoration of the Property. The net IJrOceeds of the award shall mean the award after payment of all
reasonable costs, expenses, and attorneys' fees incurred oy Lender in conne~tion with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
fees and charges are a part of this Mortgage:
Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and take
whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for
all taxes, as described below, together with all expenses incurred in recording, ·perfecting or continuing this MortgaGe, includinG without
limitation all taxes, fees, documentary stamps, and other charGes for recording or reGisterinG tl1is Mortgage.
Taxes. The followinG shall constitute taxes to which this section applies: (1) a specific tax upon this type of MortGaGe or upon all or any
part of the Indebtedness secured by this MortgaGe; (2) a specific tax on Grantor which Grantor is authorized or required to deduct from
payments on the Indebtedness secured by this type of Mortgage; (3) a tax on this type of Mortgage chargeable against the Lender or the
holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by
Grantor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the
same effect as un Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below
unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in 1I1e Taxes and Liens
section and deposits with lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Mortgage as a security aGreement are a part of
this Mortgage:
Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
Lender shall have all 01 the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect and continue Lender's
security interest in the Personal Property. In addition to recording this Mortgage in the real property records, Lemler may, at any time and
without further authorization from Grantor, file executed counterparts, copies or reproductions of this MortGaGe as a financing statement.
Grantor shall reimburse lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Grantor shall not
remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any Personal Property not affixed
to the Property in a manner and at a place reasonably convenien.( to Gr¡¡ntor and Lender and make it available to Lender within three (3)
days after receipt of written demand from Lender to the extent permitted by applicable law.
Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest
granted by this Mortgage may be obtained (each as required by the Uniform Commercial Code) are as stated on the first paGe of this
Mortgage.
FURTHER ASSURANCES; ATTORNEY -IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
Mortgage:
Further Assurances. At any time, and from time to time, upon request of Lender, Grantor will make, execute alii! deliver, or will cause to
be made, executec or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all such mortGages,
deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further aSSUfèmce,
certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect,
continue, or preserve (1) Grantor's obligations under the Note, this Mortgage, and the Related Documents, and (2) the liens and
security interests created by this Mortgage on the Property, whether now .owned or hereafter acquired by Grantor. Unless prohibited by
law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender, far all costs ami expenses incurred in connection with the
matters referred to in this paragraph.
Attorney-in-Fact. If Grantor fails to do any of the things referred 'to in the preceding paraGraph, Lender may do so for and in the name of
Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appaints Lender as Grantor's attorney-in-fact for the
purpose of making, executing, delivering, filing, recording, and doinG all other things as may be necessary or desirable, in Lender's sole
opinion, to accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obliGations imposed upon Grantor under
this Mortgage, Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and suitable statements of termination of any
financing statement on file evidencing Lender's security interest in the f1ents and the Personal Property. Grantor will pay, if permitted by
applicable law, any reasonable termination fee as determined by Lender from time to time.
EVENTS OF DEFAULT. At Lender's option, Grantor will be 'indefault under this Mortgage if any of the following happen:
Payment Default. Grantor fails to make any payment when due under the Indebteclness.
Default an Other Payments. Failure of Grantor within the time required by this Mortgage to make any payment for taxes or insurance, or
any other payment necessary to prevent filing of or to effect discharge of any lien:'
Break Other Promises. Grantor breaks any promise made to Lender or fails to perform promptly at the time and strictly in the manner
provided in this Mortgage or in any agreement related to this Mortgage.
False Statements. Any representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this MortgaGe or
the Related Documents is false or misleading in any material respect, either now or at the time made or furnished.
Defective Collateralizatian. This Mortgage or any of the Related Documents ceases to be in full force and effect (including failure of any
collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
Death .or Insalvency. The death of Grantor, the insolvency of Grantor, ·the appointment of a receiver for any part of Grantor's property, any
assignment for the benefit of creditors, any type of creditor workout, or the cammencement of any proceedinG under any bankruptcy or
insolvency laws by or against Grantor.
Taking .of the Praperty. Any creditor or governmental agency tries to take any of the Property or any other of Grantor's property in which
Lender has a lien. This includes taking of, garnishing of or levying on Grantor's accounts with Lender. Howev"H, if Grantor disputes in
good faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Grantor gives Lender written notice
of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this default provision will
not apply.
Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is not made within the time
required by the promissory note evidencing such indebtedness, or a default oer;urs under the instrument securinG such indebtedness and is
not cured during any applicable grace period in such instrun1¡)nt, or any ~uit or other a'ction is commenced to foreclose any existing lien on
the Property.
Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not
remedied within any grace period provided therein, including without limitation any aGreement concerning any indebtedness or other
obligation of Grantor to Lender, whether existing now or. later.
Events Affecting Guarantor. Any of the precedinG eveÍlts occurs with respect to any guarantor, endorser, surety, or accommodation party
of any of the Indebtedness or any guarantor, endors'er, surety, oraccomnlodation party dies or becomes incompetent, or revokes or
disputes the validity of, or liability under, any Guaranty of the InrJebted.ness. In the event of a death, Lender, at its option, may, but shall
not be required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in a manner
satisfactory to lender, and, in doing so, cure any Event of Default.
Insecurity. Lender in good faith believes itself insecure.
RIGHTS AND REMEDIES ON DEFAULT. Upon the occu:rence at' an Event of Default and at any time thereafter but subject to any limitation in
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Loan No: 764003304
MORTGAGE
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the Note or any limitation in this Mortgage, Lender, at Lender's option, may exe¡ cise anyone or more of the following rights and remedies, in
addition to any othe,- rights or remedies provided by law:
Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness imrnediately
due and payable, incluejing any prepayment penalty which Grantor would be required to pay.
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the ri(Jhts and remedies of a secured party
under tile Uniform Commercial Code.
Collect Rents. Lender shall have the right, without notice to Grantor, 'to'take possession of the Property, including during the pendency of
foreclosure, whr;ther judicial or non·judicial, and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over
and above Lender's costs, against the Indebtedness. In furtherance of this rioht, Lender may require any tenant or other user of the
Property to make payments of rent or use fees directly to Lender. If the Rents "re collected by Lender, then Grantor irrevocably desionates
Lender as Grantor's attorney· in-fact to endorse instruments received in payment thereof in the name of Grantor and to neootiate the same
and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the oblioations for
which the payments are made, whether or not any proper orounds for the demand existed. Lender may exercise its riohts under this
subparaoraph either in person, by agent, or through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the
power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the
Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without
bond if permitted by law. Lender's riOht to the appointment of a receiver shall exist whether or not the apparent value of the Property
exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from servino as a receiver.
Judicial Foreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest in all or any part of the Property.
Nonjudicial Sale. Lender may foreclose Grantor's interest in all or in any part of the Property by non-judicial sale, and specifically by "power
of sale" or "advertisement and sale" foreclosure as provided by statute.
Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebt(;dness due
to Lender after application of all amounts received from the exercise of the rights provided in this section.
Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise
becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lender or the
purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the
Property immediately upon the demand of Lender.
Other Remedies. Lender shall have all other rights and remedies provided in this Mortgage or the Note or available at law or in equity.
Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all right to have the Property marshalled.
In exercising its rights and remedies, Lender shall be free to sell "II or any part of the Property together or separately, in one sale or by
separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property.
Notice of Sale. Lender will give Grantor reasonable notice of th" time and place of any public sale of the Personal Property or of the time
after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice
given at least ten .( 1 0) days before the time of the sale or ,disposition. Any sale of the Personal Property may be made in conjunction with
any sale of the Real Property. . ,',.'
, ,
Election of Remedies. All of Lender's rights and remedies will becL'lfn'ulative and may be exercised alone or together. An election by
Lender to choose anyone remedy will not bar Lender from using any other remedy. If Lender decides to spend money or to perform any of
Grantor's obligations under this Mortgage, after Grantor's failure to do so, that decision by Lender will not affect Lender's right to declare
Grantor in default and to exercise Lender's remedies.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Mortgage, Lender shall be entitled to
recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is
involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time
for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
interest at the Note rate from the date of the expendituw until repaid. Expenses cov8red by this paragraph inclueJe, without limitation,
however subject to any limits under applicable law, Lender's reason¿;ble attorneys' fe"s and Lender's legal expenses whether or not there is
a lawsuit, including reasonable attorneys' fees after default and referral to an attorney not Lender's salaried employee and expenses lor
bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment
collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal
fees and title insurance, to the extent permitted by applicable law. Grantor also will "pay any court costs, in addition to all other sums
provided by law.
NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice of default and any notice of sale shall be
given in writing, and shall be effective when actually delivered, when actually received by telefacsimile {unless otherwise required by law}, when
deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or
registered mail postage prepaid, directed to the addresses shown near the beginl1ing of this Mortgage. All copies of notices of foreclosure from
the holder of any lien which has priority over this Mortgage shall be sent to Lender's address, as shown near the beginnino of this Mortoage.
Any person may change his or her address for notices under this Mortgaoe by giving formal written notice to the other person or persons,
specifying that the purpose of the notice is to change the person:s address. For notice purposes, Grantor agrees to keep Lemler informed at all
times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender
to any Grantor is deemed to be notice given to all Grantors. It will be Grantor's responsibility to tell the others of the notice from Lender.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage:
Amendments. What is written in this Mortgage and in the Related Documents is Grantor's entire ä(Jreement with Lender concerning the
matters covered by this Mortgage. To be effective, ar1Y change or amendment to this Mortgage must be in writing and must be sioned by
whoever will be bound or obligated by the change or amendment.
Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to interpret or define the
provisions of this Mortgage. .
Governing Law. This Mortgage will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the
laws of the State of Wyoming without regard to its conflicts of law provisions. This Mortgage has been accepted by Lender in the State of
Wyoming.
Choice of Venue. If there is a lawsuit, Grantor agrees upon Lemler's request to submit to the jurisdiction of the courts of Lincoln County,
State of Wyoming.
No Waiver by Lender, Grantor understands Lender will not give up any of Lènder's rights under this Mortgage unless Lemler does so in
writing. The fact that Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lender does aoree
in writing to give up one of Lender's rights, that does not mean Grantor will not have to comply with the other provisions of this Mortoage.
Grantor also understands that if Lender does consent to a request, that does not mean that Grantor will not have to get Lender's consent
aoain if the situation happens aoain. Grantor further understands that just because Lender consents to one or more of Grantor's requests,
that does not mean Lender will be required to consent to any of Grantor's futur!,; requests. Grantor waives presentment, demand for
payment, protest, and notice of dishonor. Grantor waives all rights of exemption from execution or similar law in the Property, and Grantor
agrees that the rights of Lender in the Property under this Mortgage are priorto Grantor's riohts while this Mortoage remains in effect.
Severability. If a court finds that any provision of this Mortgage is not valid or shoufd not be enforced, that fact by itself will not mean that
the rest of this Mortgage will not be valid or enforced. Therefore, a court will enforce the rest of the provisions of this Mortgage even it a
provision of this Mortga(Je may be found to be invalid or unenforceable.
Merger. There shall be no merger of the interest or estate created by this Mortgage with any other interest or estate in the Property at any
time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
Successors and Assigns. Subject to any limitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shórll be binding
upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other
than Grantor, Lender, without notice to Grantor, may eleal with Grantor's successors with reference to this Mortgage and the Indebtedness
;. _.( ., .>_\ <.r.~, I~-!. ~~ r1,,;
\oj¡ J j t'-~ t::, 'VI L-f.
MORTGAGE
( Continued)
r'p('ò"\'87
'-' ,j J t...
Loan No: 764003304
Page 5
by way .of farbearance .or extensian withaut releasing Grantar fram the .obligatians .of this Martgage .or liability under the Indebtedness.
Time is .of the Essence. Time is .of the essence in the perfarmance .of this Martgage,
Waiver .of Hamestead Exemptian. Grantar hereby releases and waives all rights aQd ben¡dils .of the homestead exemptian laws .of the State
.of Wyaming as ta all Indebtedness secured by this Martgilge.
DEFINITIONS. The fallawing wards shall have the fallawing meanings when used in this Martgage:
Barrawer. The ward "Barrower" means DAVID S. JENKINS and includes all ca-signers and ca-makers signing the Nate and all their
successars and assigns.
Environmental Laws. The wards "Enviranmental Laws" mean any and all state, federal and lacal statutes, regulatians and .ordinances
relating ta the pratectian .of human health .or the enviranment, including withaut limitation the Camprehensive Environmental Respanse,
Campensatian, and Liability Act .of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and
Reautharizatian ;":1 .of 1986, Pub. L. Na. 99-499 ("SARA"), the Hazardaus Materials Transpartatian Act, 49 U.S.C. Section 1801, et seq.,
the Resaurce Canservatian and Recavery Act, 42 U.S.C. Sectian 6901, et seq., or ather applicable state .or federal laws, rules, .or
regulatians adapted pursuant thereta.
Event .of Default. The wards "Event .of Default" mean any .of the events .of default set forth in this Martgage in the events .of default
sectian .of this Martgage.
Existing Indebtedness. The wards "Existing Indebtedness" mean the indebtedness describ"!d in the Existing Liens pravisian .of this
Martgage.
Grantar. The ward "Grantar" means DAVID S. JENKINS.
Guaranty_ The ward "Guaranty" means the guaranty fram guarantar, endarser, surety, .or accammadatian party ta L.ender, including
withaut limitatian a guaranty .of all .or part .of the Note.
Hazardaus Substances. The wards "Hazardaus Substances" mean materials that, because of their quantity, cancentration or physical,
chemical or infectious characteristics, may cause .or pose a present .or potential hazard ta human health or the environment when
impraperly used, treated, stored, disposed .of, generated, manufactured, transparted or .otherwise handled. The words "Hazardous
Substances" are used in their very braadest sense and include withaut limitåtian any and all hazardaus .or taxic substances, materials .or
waste as defined by .or listed under the Enviranmental Laws. The 'term "Hazardaus Substances" alsa includes, withaut limitatian, petraleum
and petraleum by-products or any fraction thereaf and asbestos..
Impravements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile hames affixed an the
Real Praperty, facilities, additians, replacements and ather canstruction an the Real Property.
Indebtedness. The ward "Indebtedness" means all principal, interest, and ather amaunts, costs and expenses payable under the Note or
Related Dacuments, tag ether with all renewals .of, extensians .of. madificatians .of, cansalidatians .of ami substitutians for the Nate .or
Related Dacuments and any amaunts expended or advanced by Lender ta cJischarge Grantor's obligatians .or expenses incurred by Lender to
enfarce Grantar's abligatians under this Martgage, tag ether with interest an such amaunts as provided in this Martgage.
Lender. The ward "Lender" means FIRST NATIONAL BANK - WEST, its successars and assigns. The wards "successars or assigns" mean
any persan .or campåny that acquires any interest in the Nat,".
Martgage. The word "Martgåge" means this Martgage between prantarand Lender.
Note. The ward "Nate" means the pramissary nate dated November 15, 2005, in the original principal amount of $52,916.34
fram Grantar ta Lender. tagether with all renewals .of, extensions of, modifications .of, refinancings .of, consalidations .of, and substitutians
far the pramissary nate .or agreement.
Persanal Praperty. The wards "Persanal Praperty" mean all equipment, fixtures, and ather articles .of persanal praperty naw .or hereafter
awned by Grantor, and naw .or hereafter attached .or affixed tathe Real Praperty; tagether with all accessians, parts, and acJditians ta, all
replacements .of, and all substitutians far, any .of such praperty; and tagether with all proceeds (including withaut limitatian all insurance
praceeds and refunds .of premiums) fram any sale .or ather dispasitian .of the Praperty.
Praperty. The ward "Praperty" means callectively the Real Property and the Persanal Praperty.
Real Praperty. The wards "Real Praperty" mean the real praperty, interests and rights, as further described in this Mortgage.
Related Dacuments. The wards "Related Documents" mean all pramissary nates, credit agreements, laan agreements, enviranmental
agreements, guaranties, security agreements, martgages, deeds .of trust, security deeds, callateral mortgages, and all other instruments,
agreements and dacuments, whether naw .or hereafter existing, executed in cannectian with the Indebtedness.
Rents. The ward "Rents" means all present and future rents, revenues, incame, issues, rayalties, prafits, and other benefits derived fram
the Praperty.
GRANTOR/A.CK OWLEOGES ".AVING READ ALL THE PROVISIONS OF THIS MORTGAGE. AND GRANTOR AGREES TO ITS TERMS.
GRANl/o '. L., /
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-DAïïïDS] KI·~ .
INDIVIDUAL ACKNOWLEDGMENT
STATE OF
WYOMING
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PENNY JÓr Èì,--··"....:::~!ffiTARTpul3L1c }
COUNTY OF'- ST,I\TE OF (/
LINCOLN WYOMING ¡¡
,
MY COMMISSION EXPIRES SEPTEMBER l.i'F
~----.----.--~~:..::::.:;:.:,_"":<-'./~:..
COUNTY OF __-----------LINCOJ4N
On this day befare me, the undersigned Natary Public, persanally appeared DAVID S. JENKINS, ta me known ta be the individual described in
and wha executed the Martgage, and acknawledged that he .or she signed the Martgage as his .or her free and valuntmy act and deed. for the
uses and purpases therein mentianed.
Gi?rlYûñdëJ my hand and officia êal this ---15tlL._____~_ day .of ~No:\l.elllber_________~. 20 -û5__.
BY~~_ Residing at~.inc.oln....Count¥
lVIy cammissian expires_--9.lIß./ÜL
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