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Home My WebLink About914049 ;1 i) "'-4/\ / ,-, !\ nò i~1 .,' ~..' /~... "'i C1: RECORDATION REQUESTED BY: FIRST NATIONAL BANI< - WEST Alpine 100 Greys River Rd. P,O. Box 3110 Alpine, WY 83128 WHEN RECORDED MAIL TO: FIRST NATIONAL BANI< - WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine. WY 83128 RECEIVED 11/30/2005 at 10:43 AM RECEIVING # 914049 BOOK: 606 PAGE: 244 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY SEND TAX NOTICES TO: FIRST NATIONAL BANI< . WEST Alpine 100 Greys River Rd. P,O. Box 3110 Alpine, WY 83128 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY MORTGAGE THIS MORTGAGE dated November 16, 2005, is made and executed between ROBERT R. MEIKLE AND CONNIE R. MEIKLE, HUSBAND AND WifE (referred to below as "Grantor") and fiRST NATIONAL BANK - 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 and 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 limitation all minerals, oil, gas. geothermal and similar matters, (the" Real Property") lociJted in LINCOLN County, State of Wyoming: See ATTACHED EXHIBIT "A", which is attached to this Mortgage and made a part of this Mortgage as if fully set forth herein. The Real Property or its address is commonly known as PHASE II SALT RIVER COVE SUBDIVISION, ALPINE, WY 83128. REVOL VING LINE OF CREDIT. This Mortgage secures the Indebtedness including, without limitation, a revolving line of credit, which obligates Lender to make advances to Borrower so long as Borrower complies with all the terms of the Credit Agreement. Grantor presently assigns to Lender all of Grantor's right, title, and ir¡terest in and to all present and future leases of the Property and all Rt,nts fr,om the Property, In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Person,'! Property and Rents, THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PEHSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF EACH OF GRANTOR'S AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS MORTGAGE, THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: ¡Co J (4 (SO -15 , , J j GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti'deficiency" law, or any other law which Illay prevent Lender from bringing any action against Grantor, including a cl,;im for deficiency to the extent Lender is otherwise ""titled to a claim for deficiency, before or after Lender's commencement or completion of dny foreclosure action, either judicially or by exercise of a power of sale. GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: (a) this Mortgage is executed at Borrower's request and not at the request of Lender; (b) Grantor has the full power, right, and authority to enter into this Mortgage and to hypothecate the Property; (c) the provisions of this Mortgage do not conflict with, or result in a default under any agreement or other instrument binding upon Grantor and do not result in a violation of any law, regulation, court decree or order applicable to Grantor; (d) Grantor has established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has mdde no representation to Gr,mtor about Borrower (including without limitation the creditworthiness of Borrower), PA YMENT AND PERFORMANCE, Except as otherwise prlJvided in this Mortgage, Borrower shall pay to Lender ,dl Indebtedness secured by this Mortgage as it becomes due, and Borrower and Grantor shall strictly perform all Borrower's and Grantor's obligations under this Mortgage, POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Grantor agree that Borrower's and 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 tenantable 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 release of any Hazardous Substance by any person on, under, élbout or from the Property;' (2) Grantor has no l,novvl'Jdge 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, releélse or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actuéll or threatened litigation or claims of any kind by any person relating to such mätters; and (3) Except as previously disclosed to and acknowledged by Lencler in writillQ, 1,1) 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; and (b) any sLIch activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including vviil,uut limitation all Environmental Laws, Grantor authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property with this sectionof the Mortgage. Any inspections or tests madu by Lencler shall be for LencJer's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Grantur 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 claims against Lender for im!8mnity or contribution in the event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender agóinst any and all claims, losses, liabilities, damaOiJs, penalties, and expenses which Lender may directly or indirectly sustain or sufler resulting from a breach of this section of the Mortgage or as a consequence of any use, generation, manufdcture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or interest in the Property, whdher or not the same was or should hélve been known to Grantor. The provisions of this section of the Mortgage, including the obligation to inddnnify, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Mortoage and shall not be idfucr"d by Lender's acquisitiun of any interest in the Property, whether by foreclosure or otherwise, Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoino, Grantor will not remove, ur grant to any other party the right to remove. any timber, minerals (including oil and Uasl, coal, clay, scoria, soil, gravel or rock products without Lemler's prior written consent. Removal of Improvements. Grantor shall not demolish or remove any Improvements frolll the Real Property without Lender's prior written consent, As a condition to the removal of any Improvements, Lender Illay require Grantor to mal«; arrangements satisfactory to Lender to ij. l ~L' (~'~; (-;. , ".. 'J '-1.[..} MORTGAGE (Continued) ,--- '""" "\ :¡ ,.... , "I, ,I' 'J' :.) :.}' .:: ~ Loan No: 761001081 Page 2 replace such Improvements with Improvements of at least equid value, lender's Right to Enter. lender and Lender's agents and representatives 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 ilnd conditions of this MortgiJge. Compliance with Governmental Requirements, Grantor shall prolìlptly cOlilply with all laws, ordinances, and regulations, now or hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or re9ulation and withhold compliance clurinlj any proceeding, including appropriate appeals, so lon9 iJS Grantor has notified Lender in writing prior to doing so and so long as, ill I cnder's sole opinion, Lender's interests in the Property are not jeopardized, Lencler may require Grantor to post adequate security or a surdy IJOnd, reasonably satisfactory to lender, to protect lender's interest. Duty to Protect, Grantor agrees neither to abandon or leave unallended 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 nLJcessary to protect ancl preserve the Property, TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Mortgage: Payment, Grantor shall pay when due (and in all events prior to delinquency) all liixes, payroll taxes, special t,¡xes, assessments, water charges and sewer service charges levied against or on account of the Property, and 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 of any liens having priority over or equal to the interest of lender under this Mortgage, except for those liens specifically as¡reed to in writing by Lender, and except for the lien of taxes and assessments not due as further specified in the Right to Contest paragraph. Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute OVDf the obligation to pay, so long as Lender's interest in the Property is not jeopardized, If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge 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 chargt;s 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 satisfy 'Iny adverse judgment before enforcement a9ainst the Property, Grantor shall name Lender as an additional obligee under 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 ami shall authorize the appropriate governmental official to deliver to lender at any time a written statement of the taxes and assessments as¡ainst the Property, Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are fUll1ished, or any matel ials 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 Gralìtor can and will pay the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Mortgage: Maintenance of Insurance. Grantor shall procure and rni1intain policies of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvements (m the 11eal Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgauee c;lause in, favor of Lender, Grantor shall also procure and miJlntain comprehensive general liability insurance in such coverage amounts as Lender may request with Lender being named as additional insureds in such liability insurance poficies, Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, busi'kss interruption and boiler insurance as Lender may require, 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 wrillen 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 providinu that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person, Should the Real Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood haziJrd area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, for the maximum amount of your credit line and the full IJIlpaid principal balance of any prior liens on the property securing the loan, up to the maximum policy limits set under the ~Jational ~clood 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 to do 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 of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration iJnd repair ot the Property, If Lender elects to apply the proceeds to restoration and repair, Grantor shall repair or replace the damaged or destroyed Improvem~l1ts in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, payor reimburse Grantor from the proc~eds for the reasonable cost of repair or restoration if Grantor is not in default under this Mortgage, Any proceeds which have not been dislJursed within 180 days after their receipt and which lencler has not committed 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, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear. lENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Mortgage or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Mortgage or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not lirnit8d to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property ami paying all costs for insuring, maintaining and preserving the Property, All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Credit Agreement from the 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; (B) be added to the balance of the Credit Agreement 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 Credit Agreement; or (C) be treated as a balloon payment which will be due and payable at the Credit Agreement's lIIaturity. The Mortgage also will secure payment of these amounts, Such right sh,,1I be in addition to all other rights and remedies to which lender may be entitled upon Default. 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 any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, lender in connection with this Mortgage, and (b) Grantor has the full right, power, and authority to execute and deliver this Mortgage 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 or 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 and 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 instrumems as Lehder may 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 existinu applicable laws, ordinances, and regulations of governmental authorities. ' Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Mortgage shall survive the execution and delivery of this Mortgage, shall be continuing in nature, and shall remain in full force i'lHI el feet until such time as Borrower's Indebtedness shall be paid in full. CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Mortgage: Proceedings, If any proceeding in condemnatiun is filed, Grantor shall prornptly notify Lender in writing, and Grantor shall promptly take Loan No: 761001081 :::t'Q ... '-" MORTGAGE (Continued) (~ ~~~ (~ ;j ?', '-iU Page 3 such steps as may be necessary to defend the action and ohtain the award, Grantor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceedin£j and tù be represented in the proceedin£j by counsel of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments iJlìd documentation as may be requested by Lemler from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedin£js or by any proc"ecling or purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds 01 th" award be applied to the Indebtedness or the repair or restoration of the Prùperty, The net proceeds of the award shall mean the award after payment ot all reasonable costs, expenses, and attorneys' fees incurred by Lender in connection with the condemnation, IMPOSITION OF TAXES. FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions rel"ting to £jovernmental 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 cùntinue Lender's lien on the Real Property, Grantor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfectin£j or continuing this Mortga£je, including without limitation all taxes, fees, documentary stamps, and other char£jes for recording or registerin£j this 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 Borrower which Borrower 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 Credit Agreement; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Borrower, Subsequent Taxes. If any tax to which this section applies is enacted subsequent tu the date of this Mort£jage, this event shall have the same effect as an Event of Default, and Lemler may exercise any or all of its available remedies for an Event uf [)efault as provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in ¡he Taxes and Li8ns section and deposits with Lender cash or a sufficient corporate surety bonel or other security satisfactory to Lender, SECURITY AGREEMENT; FINANCING STATEMENTS, The following provisions relating to this Mortgage as a security agrefjment are a part of this Mortgage: Security Agreement. This instrument shall constitute a Security Agreement to the ~xtent any 01 the Property constitutes fixtures, and Lender shall have all of the ri£jhts of a secured party under the Uniform Commercial Code as amended from tilne 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 Rents and Personal Property, In addition to recording this Mort£j"'-Ie in the real property records, Lender may, ilt any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this r,ilortgage as a tinallcing 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 r'roperty not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it availalJle 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 (~ecured party) fronl which information concernin£j the security int8rest granted by this Mortgage may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page ot this Mortgage. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The followin£j provisions relating to further assur ancl)s 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 and deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lemler, 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, instrulllents of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order tu effectuate, complete, perfect, continue, or preserve (1) Borrower's and Grantor's obligations under the Credit Agreement, this Mortgage, and the Related [)OclIIIII,nts, and 12) the liens and security interests created by this Mortgage "S first and prior ,liens on the Property, whether now owned or hereafter acquired by Grantor, Unless prohibited by law or lender agrees tü the contrary in writing, Grantor shall reimburse L"nder for all costs and expenses incurred in connection with the matters rt;l¡;rred to in this para£jraph. Attorney-In-Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so fùr and in thl' narne of Grantor and at Grantor's expense, For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-filet for the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lencler's sole opinion, to accomplish the matters referred to in the preceding paragraph, FULL PERFORMANCE. If Borrower pays all the Indebtedness when due, terminates the credit line account, and otherwise performs all the obligations imposed upon Grantor under this Mortgage, Lender shall execute and deliver to Grantor a suitable satisfaction of this Mort£jage and suitable statements of termination of any financing statement on file evidencin£j Lender's security interest in the Rents and the Personal Property, Grantor will pay, if permitted by applicable law, any reasonable termination fee as determined by Lender from tirne to lllne, EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Mortgage: Payment Default. Borrower fails to make any payment when due under tile Indebtedness, Default on Other Payments. Failure of Grantor witllin the time required by this MortÇJiige to make any payment for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien, Other Defaults. Borrower or Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Mortgage or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition c(,ntained in any other agreement between Lender and Borrower or Grantor, Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension ,,! credit, security aureernent, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially aff"cl any 01 Borrower's or any Grantor's property or Borrower's ability to repay the Indebtedness or Borrower's or Grantor's ability to perform their respective obligations under this Mortgage or any related document. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Grantor or on Borrower's or Grantor's behalf under this Mortgage or the Related Documents is false or misleading in any malel iill respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Collateralization. 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 lirne and for any reason, Death or Insolvency. The death of Borrower or Grantor, the insolvency of Borrower or Grantor, the appointment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or ·forfeiture proceedings, whether by judicial proceeding, selflwlp, repossession or any other method, by any creditor of Borrower or Grantor or by any go\/ernmental agency a£jainst any plUperty securinu the Indebtedness. This includes a garnishment of any of Borrower's or Grantor's accounts, including deposit accounts, with I_ender, However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reil~onableness ot the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a suréty bond for the creditor pr forfeiture proceeding, in an amount ddermined by Lender, in its sole discretion, as being an adequate reserve or bond for tile dispute, Breach of Other Agreement. Any breach by Borrower or Grantor under the terms of any other agreement between Borrower or 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 Borrower or Grantor to Lender, whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs witll respect to any guarantor, endorser, surety, or accommodation party \ ~ I jI- f-·.~ [J. .;~~S IVIORTGAGE (Continued) (' (;, r'~ .... ..... I... 1 ~., 4: l Loan No: 761001081 Page 4 of any of the Indebtedness or any guaruntor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the vðlidity of, ür liability under, any Guaranty of the Indebte(ne~¡s, In the l;vent of a death. Lender, dt its option, Inay, but shall not be required to, permit the guarantor's estate to assume unconditiiJ)ìiJlly the obligations arising under the guaranty in a manner satisfactory to Lender, and, in doing so, cure any Event of Default, Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender in good faith believes itself insecure. RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default and at any time thereafter, Lender, at Lender's option, may exercise anyone or more of the following rights and remedies. in addition to any other 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 immediately due and payable, including 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 rights and remedies of a secured party under the Uniform Commercial Code, Collect Rents. Lender shall have the right, without notice to Borrower or Grantor, to take possession of the Property, including during the pendency of foreclosure, whether judicial or non'judicial, and collect the Rents, including amounts past due and unpiJid, and apply the net proce(;ds, over and above Lender's costs, against the Indebtedness, In furtherance of this right, 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 are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payrnent thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lemler's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed, Lender may exercise its rights under this subparagraph either in person, by agent, or through a receiver, Appoint Receiver. Lender shall have the right to have a receiver appoirited to take possession of all or any part of the Property, with the power to protect éJnd 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 qf the receivership, against the Indebtedness, The receiver may serve without bond if permitted by law, Lender's fight to the appointment of a recei'/er shall exist whether or nut the apparent value of the Property exceeds the Indebtedness by a substantial amount, Employment by Lender shall not disqualify a person from serving 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 IndelJtedness 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 dfter the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantol, 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 Credit Agreement or available at law or in equity. Sale of the Property. To the extent permitted by applicable law, Borrower and Grantor hereby waive any and all right to have tl1e Property marshalled, In exercising its rights and remedies, Lender shall be free to sell all 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 shall give Grantor reasonable notice of the tilli" 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, ReasoniJlJle notice shall medn notice given at least ten (10) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjullc;tiun '"lith any sale of the Real Property. Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other renwdy, and an election to make expenditures or to take action to perform an obligation of Grantor under this Mortgage, after Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies, Nothing under this Mortgage or other'Nise shall be construed so as to limit or restrict the rights and remedies available to Lender following an Event of Default, or in any way to Iii flit or restrict the rights and ability of Lender to proceed directly against Grantor and/or Borrower and/or against any other co-maker, guarantor, surety or endorser and/ur to proceed against any other collateral directly or indirectly securing the Indebtedness, 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 exp8nses 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 011 demand and shall bear interest at the Creclit Agreement rate from the date of the expenditure until repaid, Expenses covered by tllis paragraph include, without limitation, however subject to any limits under applicable law, Lendeõ's reasonable attorneys' fees and Lemler's legal expensüs whether or not there is a lawsuit, including reasonable attorneys' fees and expenses for 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 ddault and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefócsirnile (unless otherwise required by lawl, wilen 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 beginning 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 beginning of this Murtgage, Any party may change its address for notices under this Mortgage by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address, For notice purposes, Grantor agrees to keep Lender informed at ,.II tirues of Grantor's current address, Unless otherwise provided or required bylaw, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors, MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage: Amendments. This Mortgage, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Mortgage, No alteration of or amendment to this Mortgage shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment, Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request, a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require, "Net operating income" shall mean all .cash receipts from the Property less all cash expenditures made in connection with the operation of the Property. Caption Headings. Caption headings in this Mortgage arc; for convenience purposes only ami 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 Lender's request to submit to the jurisdiction of the courts of Lincoln County, State of Wyoming, Joint and Several Liability. All obligations of Borrowür and Grantor under this Mortgage shall be joint and several, and all references to Grantor shall mean each dnd every Grantor, and all references to Borrower shall mean each and every Bûfrower This 1,leiJnS that each I I -1 I I , .! i I I I ,I I I i 1 I I ¡ I I , . , J n~,s -'I: ,_.:. ':;~"~'--':--':~'-'''-:---~:-o--.';::7:'.-:-:-J ~--~-_._-- ·;>··:';;("<~ry~,~;~t:,·~-,s·~ ;.-.-, . " .._~, ----',.----'-. . . '. ¡ ~ .: ,.,'1 . (... :'" !"" '..) '\.,! .... ,! (! ,:. '-:s: 0 Page 5 . -' . .~. loan No: 761001081 MORTGAGE ,:" (Cof!tinu~d)< .'. B...¡¡IOWet and Grantor &¡grung beLow is roSPOnSib&ef~ì.·~I(.~:~~i9_~:tj~.~·~~¡¡;·'ïhj~: ~:~ri~~Ä·;;,.. N.o W¡Ü\lir by Landee'. lender ~h.wl not be de:cm.ad to'ha:~~'v'a_iv~d any Ji9ht_sl.i-,,¡J~i" thisMort9a~ts UnlêS.iõ such waiver i~ given in writing and 5ign.ãd by lender. No delay or omission on the pa~,_at l~d6(__jfl exer,c.J~inuõ.~y:ri~h1 shaU o{.)tlrate as a waiv\JI vI such tiOht or any other ,i'Jht. A waiver tJy ltmdtu of a provìsiun ot th~ ~.n.Oàgð &h~I,I_ no~p~ej~diç~__cir c~f\Stitu~e aWdi\lijr of LeI)(.1~r's (ìaht G\hêrwí.::ic: to demand strict compJiønçc with lhat provision or any ~the( próvi~~n olù¡i_s ""o~_gàg·e..-_ No plieu wai~tlr by lender, OO( any cuur~c of ¡j-4aling betw6.;¡n lender and GCí111tor. 5h811 consûtute a Vla¡.v.e~'o' ~I)V .ofL~Hd-er'š·-rj9hts_· or.· of í:Jny of Gramor"s obli~ations .cas tù ooy future Hansûctions. Whenever thð COI\Sónt 01 lender is reqyir~.irpnder:th~. rv,.brtg·aQ~)th~.·-ijlant.¡ng -at such consent tJy L~nJ~u if.. any ¡n:s.tduce $hall not consti[Ute continuing cons~ot to sub.:iequ4u1t: i("¡sl~nc,c¡i. wh~re·-.S~Ch ~onse,nt is .requÎred and in all CbSôS :i.uc.h consent may be granted or .withheld in the saki d~c;retiol1 of Lender. . .. ...., . ., .,: ' S8Y8labiJity. If a court of comptttent jurisdicûon finds :a~Clypr~~¡~i~n' O(¡hitMOng~g~:'t·obe ill~aal. invalid. or urìenfOrCeåblti as (0 any pCf~on or circum&tance:. that finding .shall not make úle "offen~~~g pr~v~iQh :illegal~,.i(\""'~l~d, -or IJnënfofcei1Ìile ós to any other pta'~OH or circUlnstance. If faasibltl, 1he OflàUdil1{J prÇJ~ísion sh.all.: b:~ Ç~n.::~id~_(~d m9<:iît¡~t4,:, S,?, ~h~[ it tJt:[;ot¡t~s Ii::U4J, v"lid ønd EmforctUable. It 1M offtmding plOvision cannot be so mút.fified. It shall be co~ilk'~d,:ctç.l~h.:d. frpf11:this.' MùftgaYd. U~¿;¡Q othûrwi¡¡e r~quirud by 1411.1. tho iUé:¡J;<ilitV. invalidity, or uOi:nforctlubil¡ty of any p(o....i~ivn_of ÚIIS'Mp~t9~::)â' ~røJl r101·alÍjict tha l¡;g¡¡,lily. 1Ji;tlidity or cnfarcbaulily at uny ottì(:( pro\ii.sion (..ii Ú1~ Mortgage. _ _-'- _": _. _ _-- '::. ~_.: ',~:':",. .._....:- "';',_: M.ecger. Thenil shall be no mtHg~c of the inl(jf~t or tHi1~_ÇCC~¿:atcd· by 'thi~:(tv1.ó'10~·gé \''\I_ith önv othi'JI imùrest or estate in tt\ti Propúrty tit any time helJ Ly 01 for the benefit of Lunder in any capacìty ~ wÎ_l!KJµt tilt ~"rittdocof1~c;: ,I( _pl_lCioddr. SUCCð$:iUJ:i and Assigns. Subject to any IimitatioO$ st~t~d ,in this -~rtga~ð _on,_tr8,ns,lei'of Giimta'·~. interest, this MQrtgago sh...lI biJ binding upon and inura to the bantiiit of the panic;>, ~if SUCç~_S50rs ðnd>JsS}QOö::' -If !?ofmersniiJ ofth.e Property bélcc.fnCS vÐstldd in a per~on other than Grantor, lendar, without notice to Gfi;tolor. may deal \..,.ilh Grao.tor·$ s:ùc'ce~sO£s.·witt¡ rt:::fQ(tioce to this Mungaya and tho IntJôbtednêss by way of fOlbcörance or extension withohl (eleü_5i:~.g:~!~r1~~r,_~I:~-r~,~h.~,'0~li.9:~:~.~.?~·~-!.;~!.~i:~ r".0~tQagu or liabjjty undür the nJabt~dnc.ss. l'im~ &15 or tiUt Essence. Time is of U1e e:;osen~e if:I..~.~:,F.?:~'f~r:Ji-~.af\~'\~f Y.~i~'M~,~t.~.fiq~~{L:.." '. ~. Waiv(:( of Homestdad Exemption. G(õntO( hereb.y Ú~Jea~~S _and\~~.I,vesßU ~IOhtS:âòq~flct¡ts af lhe hOIH~stead Eµi:;mptìon law~ of tI~ Staw of Wyoming as to alllndab¡edn~~:i secured by th~_~1(~r,t:~a?e..:;..; J .', :..~~:. ~_:...,.-., _. _.... ,', ~. . DefINITIONS. The following capÎlaJl.lad words ¡¡od lqrrn_s ß_hi.lll hElve th8·tC?U~i~¡(¡'J, m.e~.n¡0Q.s when used in this Martg.ø{1u. UrJdb~ speciiic<i.a.... ;stated to the contrary, all rliìfcr~nces 10 dollar amounts_ :~hall~mü.an· òll\(Unl~ in·I~\,~~.ùI·.mprí~y ,ot the; UnitlilJ Støtes of AmeIÌca. I,NOIu;;ì .gfLd tt:(ITIS usad in thts ~iogular shall include the plural, ö.nd the plu(_al $,t!~JlÎfI(:.I!:Klë ,'tha ~in9uJi:Ir.. as_: tt~e :.cì:mh1it ,mayruquire. WO(~ anu terlÏ~ OQt otherwis.e dafin~d in th~~ MO(lgage ~hall have the mearull(j5 anÚbut~d_1Ç): s~fi ~~¡.~ ·_ù-\·,~I,?·,,~.Qifo·(rii,·Sàmrrl4i:r<:iól Code: Borrow~r. Tha word "Borrowsr- means ROBEAT.H·.'M~l~LE-år9·incl~~::i ~il_'.G~':;i-¡oQeJ~,,.and..¿~..rnak.als signing the Credit Agreement and aU their succa~ors and a~si9IìS. ! :-":.:_-~:.::""::,_:,,.,,(:._,, ':_ .~/:,.'::~_;_\:.>: d'. Credit Aureement. The words "Credit Agreelo<,i,t" hwari' 'the'cièdit "grèêiri/i¡titdât6d November 16, 2005. with credit limit of $335.000.00 trom Borrower to lander. toge-U1~r ,with alrraiiEl:wó1s of;, 'ex.len:;¡ion;¡. .ü:~t.:·modÎfiç:atioM of. r~financino-s uf, consolidations of, and substhutions for the promissory f\OtQ or a9re~rrient_:....J:"h.e ~õturjlì' dalcof ~)iSM~~~~ê.IOt: l$ JUf.l~ 15. 2006. Default. Thè wOld -Oefautt" meòns the Delault !';c'tf~M ¡ó this M.jngaoeÎnthà~~èc¡j~n:titled -Default... e,1\/ircnmental Laws. The wOlds ·Envirorunefltal t¡i\;~S-' ,!ìó.ar__~f'y_·..u"q ~1.I>t¡ii~. ~ed~r&1 cmd local statutes, regulations and ordinances ralüting 10 the protection at human hd.allh O( thè t::,w¡f~nl?I~:nt;_'tn.clódílig'wluiDUl limitation the Comprf;hûnsive En'/¡conm.:ntøJ Rf:spon.s.~. CornlJefisation. ðnd U4bi&ity Ac[ of 1980. ~s, øCHonded, 4Z_U:SIC.: 6èction 9601. t;;tsaq. l"CERCLA"), the Su~rfui1J Amefl-dm~nt::; ønd Reeulho,ization Act of 1986, Pub, L. No, 99-499 {"SARA'!. the 1I"",rdo"". Materials' Trar.,¡purtauon Act, 49 U,5.C. Section 1801. 01 seq.. the Resource Conservation and Recovery Act, 4.2 .U.S.C. _ S~ction 6901/~t :Séq:. .Of other applîcaLw ~Wliì or fcdiual laws. rukis. or rtsyulaliol1S idopted pursuant thcreto. " . . .,.. ~ .' , . .. . Event of Default. Tho words '"Event ot Default" meañ ani'ot Lhd ave'nts 'of,d~fa.Wt :S&t forth in thi:;> Mortga.ge in the evünt::! of defautt $ßction of Ihi~ Mortgage. _.::'.'-, _ .~.:, ,'_ :... ...:: . Gr"ntor. The wOld "Grantor" means ROBERT R. MEIKLE ä';d'C'd'NNIER: MEIK~E, Guaran.ty. The word "Guaraoty" mÞÖns the guaran-ty:-'hØm -,g_u~r~iti1tcit.,-àrÚ:kJ.r"f¡er;'sÜrctv. or a.::.cúrn,rnodation piJ.rty to Lender. including wi-thout limitation a guaranty of all 01 part of the CredÎt.,A~iê~~e~t., _____ ':':",_ .' _...::'., ~ HilzardoU$ Substancea. The wOlds "HazardolJs S~t.a~ée~" è"Oean· riÚ~,tödal~thàt{ :~~~au.~e ot their quantitl. cùncÐntrütion or physicöl. chemk:aJ o( infectiou::õ chatacter¡~tics, may CöU~8 or posu' a presüt1l ol'pqteriliar hazard to human health or tt~ t::ovimnment whtm improperly used. lieatðd, stared, di:sposod of, gtru,H1;iled. _.manufactured;_ 1fansµarte~ 0roù1erwi~e handkd. The words "Hazardous Suootanct:ls· ale used in theÎl very brvade:;¡t sons.a a.nq' ioçl.ude w¡th~.t.~nijtéltion éü1y·and all hazar"l.f.ous O( toxic substønccs. lI1<.1teriøJs Qr WéI:ita âS dafined by Of listed under the E'WlrOllmentallà~"'-s.Theteri.\f,·~H~:t~dpll;S.$µÞ~lanc~s- also r1chK.l~s without limitation. pç;trCJI~um and pet(oleum by·products or any fractJon thereof ûOO _~~be~-lÜ,~"/~.<_"__~~; .:. ,..>,·':"~·::r.. '\.;~<'-' . Improvements. The .vord -Improvements" means aU'ij'xì~~rio arid f¡)turf: 'm·pi9v~inëhts·._ buildings. struclUles, mobile homes aflixed on the Real Propeny, hu.:ilrties. additions, feplacamems and othe~.~~_~~"~u.~'¡ún~9~.~-~,~,~:ál p·(~p~rti. Indvbtedne5s. The word -(ndabtBdnes.s· m~ans all p~inc~paJ.·iflt~res.Laryd o"'lJ:~r:·a~punt~,. .casts and ti~panses po:aYdblé undú( the Credit A9raarw~nt or Relaled Documents. togcther with all renewais·o1. ~xt~rÌ~ions of.; rno¿i.ñc:a'tio,~s ·of. cOlìsolidii;òons of ijlMJ substitutions for the. Cr~dit A9H:~ment or Related Documents and any ~mounis e'xpef\dt:d-or :adva~c.a~,:by L.e·nwr to cJischarge Grantol's atAjgatÎílOS 01 e)(pli:nses Incurred by Lender to enforce G/antor'~ obligélti~n.s under this'Mortg¡jge! ~tQg.uthè¡ "wiÚ\" _ip.terest- 011 such amounlS a~ provided in th¡:¡. Mortgage. .~:.;.::," . ......,. '.:_--_.:-...< _-~. i..',. lender. The word "lender" means FIRST NATIONAL:. ~.~~_.-- ·~.~s~.. _its .su~,ce~s.~r~:·~~.. assigns. MOrtgage.. Th6 word -MQrtgage- means this Mortgag:~'_bct\\I~~~' Ç3r~n~o.~,a~~.L~~:~~},~::~,· , Personal Property. The words -Par~onal Ploperty....nw,~_h a!1 eQÚlpìn~Ù\t. tix(l!r~s~_ðfiq··q·ther ·articles_ of persu"al propeity now or hereaher owned by GröntOl, gOO now or hereafter attached qf af1ixed:to_u:.e Real Pfoper\y;,t.ou,ep1ër.with all ucctissions, parts. a.nd additions, lU. aU n:pldcamems of, and a1I substitutions to., any of:-SUcÌ1 proPerty; â.n~,tO'J~t.h.Ú: w_ith _-'9.u procf~s (including without Jimitgtion öU i¡'~Ulanca proceeds and refunds of prorniumsl from any sala .9(ot~rdisp'0~i.ti~m oftrrtlPlOpeny..'·.< Prupertv· The word "Propeny· means COllectivel'í¡'ihe-R~;al'p'r9peny~n:<1tÞ~Per~p~~I~räpeItv.' Real Property. The "\lords -Real Properly- mean ~~ ~~~1 p.rQP~_~Y: i~.~.o.~~¡¡î~ ~~9 rI.9J.1t~:~ãs furih~r dc¡scribed in this Mortoage. R..I¡¡tud Documents. The words -Related Dûcurnents~-~ mea·n· aU :promissory I~at~s~ credit 'aÛraelnent~, loan ag(G~ments. envilorlmemól ayreüments, guaranties, security a9reemeol~. woctçagds, de~~~ of_ tt!-;JJ:ì,t¡ suc.IJ,IÌly...d.~ç~~ c(JlJi:jt~ral moctgages. and all otr~r În.:õtnJIHt:;ul$. agreomems aod documents. whathar now or horl:Sa.f:l~r c:~kJ;,~r~~.~x~~aJu~~ í~l.ca~l),~:l:,ti_~~ with the Indûbt~dflf.ss. Rtlnt&. The ward "Rcl\ts" means öll present iïod futÜre r~nts,IØ\lùnue6. incorne; issu'es_ loyalties, profits, and ottler benefi1S dë(ÎvaJ hom the Property. . ", '.._ __ -L·C.;' ',. EACH GRANTOR ACKNOWLEDGES HAVING READ ALLnIE. 'PfI,OVISI0!\iS' QF, THIS ""0!lTGAGE, AND EACH GRANTOR AGREES TO ITS TERMS. GRANTOR: ) //} . ),/' /Id! . / i' ,.' /; "/ 4:-:.J2~::, //X(2_ X ROBERT R, MEIKLE ./.c'/ ../ . \,~ ) ie' '~''i.!''.) '.,:, '.-' :~}-"!~;-~"~:-~.?:"'?~~""'~~ -~--'-~'-----" . . -~. ..'., . ~.-' {,J {) ~,~ IJ 9 ::';," M(}Rl-GAGE (Continued: .. Page 6 Loan No: 761Ò01074 .., ,i··. ,-'\.'. INDIVIDUAL ACKNQWLEDGMENT STATE OF COUNTY OF . ..::.;.:;.,'::....,- '__.'. . ,_ .._ .:.':: ,',:-'C'_'_- :-" Onlhis day before m~. Ùle undarsignad Notary Public, per,;~i"iny'app~aled'RöBEidìL :MEU{LE and CONNIE R, MEIKLE, to m. kf\Own 10 ba tha uìd,lVltlUals dcsclIbeù 10 .nd who ax~uted th.& Mortgüye, Qn~ ;aCkfÎ':Þ\i~I~Qed ~h~t tfll:iy.signed the MÙftgöge: as U1eir rratt and vOluot.uy ¡¡act and det::J, fOf the uses érJìd pUfposes then:un menllonad. '. -, " '. -. - . -." Given undð.l my hand and of&i41 ".,,-1 th1a co. - " .20~. By NoWy Public In and to< the Slate ot .,. U'y còfñl~Ù!isto~:.xplle.. -~~- '-.'-.,.... . ../,: ,.. . , .--: :'--"'::' , , . , - - - . . On this day before rr{e;Ceh~\iÎicl'èi''S'i,dhedNotary Public, personally I ~ppeared Connie R. Hei1<:le,:t()<-rnek~q~I1'tÓ be the individuals described ¡ In and 1vho executed the MortgAgetaµcl:ç¡cJÇh01vledged that ::3h@ signed the ¡ Mortgage as he~ free ~nd.V9FüntarY: c¡cÞ';and deed, for the--ßses",aQd ¡purposes therein mentIone~~:' Given under my hand and 'c 0 mm 1 S S Ion '6t1J, ~Q . I ï ' // / ~.:./" // / / //h/'/L~/---.." " ¡- for Oregon expires: /'!j ¿\ .-'..t~J IV! 0 RtdAG E (Continued) fì ~~;; ,~~ '"Q 5 ~ Page 5 Loan No: 761001081 Borrower and Grantor signing below is responsible for all obligations in this Mortgage, No Waiver by lender. lender shall not be deemed to have waived any riljhts under this Mortgage unless such waiver is given in writing and signed by lender. No delay or omission on the part of leneler in exercising any right shall operale as a waiver of such right or any other right, A waiver by lender of a provision of this Mortgage shall not prejudice or constitute a waiver of lender's riUht o tt18 I wise to demand strict compliance with that provision or any other provision of this Murtgage, No prior waiver by Lemler, nor any course of dealinu between lender and Grantor, shall constitute a waiver of anI' of Lender's rights or of any uf Grantor's olJliljations as to any future transactions, Whenever the consent of Lender is required under this Mortgage, thè granting of such consent by Lender in illíY instance shall not constitute continuing consent to subsequent instances wher e such consent is required and in all cases such cons8nt may be granted or withheld in the sole discretion of lender. Severability. If a court of competent jurisdiction finds any provision of this Mortgage to be illegal, invalid, or unenforceable as tu any person or circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person or circumstance, If feasible, the offending provision shall be considered modified so that it becomes legal. valid and enforceable, If the offending provision cannot be so modified, it shall be considered deleted from this Mortgage, Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provisioll of this Mortgalje shall not affect the legality, validity or enforceubility of any other provision of this Mortgage. 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 inlerest, this Mortgage "hall be binding upon and inure to the benefit of the parties, their successors and assi!Jns, If ownership of the Property becomes vested in d p8rson olher than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mon,Jage and the Indebtedness by way of forbearance or extension without releasin!J Grantor from the obli!Jations of this Mort!Jage or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performanc8 of this Mortgage, Waiver of Homestead Exemption, Grantor hereby rekases and waives all rights and benefits of the homestead exemption laws of the State of Wyoming as to all Indebtedness secured by this Mortgage, DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Mort\Ju(J~' Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America, Words and terms used in the singular shall include the plural, and the plural shall include lhe ,in!Jular, as the context may require, Words and terms not otherwise defined in this Mortgage shall have the meanings attributed to such terms in the Uniform Commercial Code: Borrower. The word "Borrower" means ROBERT R, MEIKLE anel includes all co-signers and co-makers signing the Credit Aoreement and all their successors and assigns. Credit Agreement. The words "Credit Agreement" mean the credit agreement dated N[¡vernber 16, 2005, with credit limit of $335.000.00 from Borrower to Lender, together with all renewals 01, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. The maturity date of this Mortgage is June 15, 2006, Default, The word" Default" means the Default set forth in this Mortga!Je in the section titled "Default", Environmental laws. The words "Environmental Luws" meap any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the envirünrne'n't;includin!J without limitation the COllilJlehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U,S,C, Section 9601, et seq, ("CERClA"), the Superfund Amendrnimts and Reauthorization Act 01 1986, Pub, L, No, 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U,S,c. Section 1801, et seq" the Resource Conservation and Recovery Act, 42 U,S,C, Section 6901, et seq" or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of Default. The words "Event of Default" mean any of the events of default set forth in this Mortuage in the events of default section of this Mort!Jage. Grantor. The word "Grantor" means ROBERT R. MEIKLE and CONNIE R, MEIKLE, Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accomrnodution party to Lender, including without limitation a guaranty of all or part of the Credit Agreement. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potentiu¡ hazard to human health or the envirunrnent when improperly used, treated, stored, disposed of, generated, m"nufactured, transported or otherwise handled, The words "Hazardous Substances" are used in their very broadest sense and include ",rithout limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental Laws, The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos. Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, molJile homes afllxed on the Real Property, facilities, additions, replacements and other construction on the Real Property, Indebtedness, The word "Indebtedness" means all principal. interest, and other amounts, costs and expenses payable under the Credit Agreement or Related Documents, to!Jether with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Credit Agreement or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Lender to enforce Grantor's obliuations under this Mortgage, together with interest on such amounts as provided in this Mortgage, lender. The word "Lender" means FIRST NATIONAL BANK - WEST, its successors and assigns, Mortgage. The word "Mortgage" means this Mortgage between Grantor and Lender. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all ilccessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property. Property. The word "Property" means collectively'the Real Property and the Personal Property, Real Property. The words "Real Property" mean the real propertv, interests and rights, as further described in this Mortgage. Related Documents. The words "Related Documents" mean all promissory notes, c(("dit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of t'ust. security deeds, collateral mortgages, and all other insu urnents, agreements and documents, whethel now or hereafter existing, eXficuted in connection with the Indebtedness, Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property, EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES TO ITS TERMS. :RA~; brdJ1- ¡U~a~ ROBERT R, MEIKLE ( X CONNIE R. MEIKLE ": L~~ ::j MORTGAGE (Continued) (' {-; {~ ~ ,.' \,..' .... ~: "1 d..Îi.. Loan No: 761001081 '--- - - Page 6 INDIVIDUAL ACKNOWLEDGMENT ~~~...:::::...-~ PENNY JONES ",-n- P¡OTARY PUI3L1~ COUNTY UF tf'[:.i:1fr: STATE OF Llj~COLN 'jJt.~t WYOMING ~~:I,~~~is£P~~~:::~~~!_~ On this day before me, the undersigned Notary Public, personally appeared ROBERT R, MEIKLE and t¿~~~lrl. fvlJiL{ to me known to be the individuals described in and who executed the Mortgage, and acknowledged that they signed the Mortgage as their Iree and voluntary dct and deed, for the uses and purposes therein mentioned, STATE OF ---YYOMING- ) ) SS } COUNTY OF __ LINÇQLN_, Give~e~ my hand and 0ZfiC~~ eal this _~l6.th u______ day of _----1fuy.eruher._____. . _______, 20. Q.'i____. By' ~)¿;rz,-~~~¿A.L.J Residing at___Linc.oln CQunty_ Notary Public irtZ fo~(~e State of WYOMING My commission expires_ _!1L11LSlL- --------~ -_._~ lAseR P¡;¡O L;,.¡'¡isog. Vbl, 5,29,00002 C"PI, H¡"I..,,{ fi,.¡"òcÎ..I S¡;,lutions. Inc, 1991. 20a5, AU Hj\Jhl~ Ad.d"',,d \.\,y D'\CFI",LPI.',GOJ,fC TR'';91 PA.6 " \< i ,. ", ~ "? r'-:" ~ "I.. ......, ,.1 .:. ~.._.~ I\.} .';"..f\.J i.J Exhibit "A" That part of the SW1/4 of Sec. 10 & the SE1/4 of Sec, 9, Township 36 North, Range 119 West, 6th Principal Meridian, Lincoln County, Wyoming, described as follows: Beginning at the Southeast corner of Section 9, Township 36 North, Range 119 West of the 6th Principal Meridian, and running thence South 89°46'52" West along the south line of said Section 9, 131.00 feet; thence North 0°40'50" West, 436.13 feet; thence North 15°19'25" East, 494,15 feet; thence South 89°19'10" West, 392.78 feet to a point on a 50' offset to the East bank of the Salt River; thence along said 50' offset, the following eleven (11) courses: 1) North 34°14'35" East, 54.96'; 2) North 23°42'59" East, 165.71'; 3) North 29°44'34" East, 177,19'; 4) North 32°53'14" East, 153,88'; 5) North 1T08'04" East, 155.76'; 6) North 6°48'30" West, 133.54'; 7) North 11 °28'20" West, 240,O/'; 8) North 18°14'22" West, 233,58'; 9) North 35°27'58" West, 104.65'; 10) North 52°03'35" West, 215,81 '; 11) North 54°15'03" West, 39.77 feet to the South RNV line of County Road 12-104; thence South 89°23'03" East along said South RNV line, 1490.63 feet; thence South 0°27'47" East, 116,26 feet; thence 174,11 feet along the arc of a 200 foot radius curve to the left, whose long chord bears South 25°53'45" East, 168.67 feet; thence South 50°50'09" East, 377.72 feet; thence 75.31 feet along the arc of a 200 foot radius curve to the right, whose long chord bears South 40°02'56" East, 74.86 feet; thence North 60°44'17" East, 30,00 feet; thence North 89°19'10" East 595.56 feet to the Westerly R/W line of U,S. Highway 89; thence South 4 ° 11 '24" East along said Westerly RM/ line, 1759.17 feet; thence South 88°33'22" West, 2173.65 feet to the Point of Beginning LESS all area within Salt River Cove Division NO.1 and 2nd Amended Plat Salt River Cove Division No.1, Lincoln County, Wyoming