HomeMy WebLinkAbout914408
C){'I
v
RECORDATION REQUESTED BY:
FIRST NATIONAL BANK - WEST
Alpine
100 Greys River Rd.
P.O, Box 3110
Alpine, WY 83128
WHEN RECORDED MAIL TO:
FIRST NATIONAL BANK, WEST
Alpine
100 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128
RECEIVED 12/13/2005 at 10:52 AM
RECEIVING # 914408
BOOK: 607 PAGE: 359
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 ONLY
MORTGAGE
/] "
L.-.,,,r
THIS MORTGAGE dated November 28, 2005, is made and executed between DAVID J. BACHMANN and
TRINIDAD BACHMANN, 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, titl8, 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 utilitie" 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"} located in LINCOLN County, State of Wyoming:
LOT 49, LEON LIVINGSTON SUBDIVISION, AS SHOWN BY THE OFFICIAL PLAT OF SAID SUBDIVISION FILED
IN THE OFFICE OF THE CLERK OF LINCOLN COUNTY, WYOMING AND BEING SITUATED IN SECTION 19,
TOWNSHIP 37 NORTH, RANGE 118 WEST OF THE SIXTH PRINCIPAL MERIDIAN,
The Real Property or its address is commonly known as 530 EAST COTTAGE LANE, ALPINE, WY 83128.
Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents
from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents,
THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS
GIVEN TO SECURE (AI 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 arid 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 nents 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 release 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 of violation of any Environmental Laws,
(b) any use, generation, manufacture, storage, treatment, disposal,,,r~lease or~!lre¡;tenedreleqse of any Hazardous Substance on, under,
about or from the Property by any prior owners ÇJroccupànts of the Pro'perty,'or' ecI,' a~y:a¿tLjaror;thrE!a~enedlitigation or claims of any
kind by any person relating to such m~tters; ar!~:(,~):E~p~p't ~s!p'ieYioÿsly' disRlp~r~~, ~oänd ,ack,np~ledge,~by L?nder in writing, (a) neither
Grantor nor any tenant, contractor, aQent orot,he~ aLJth()rlz;~dLjser ~fit~~: :r?p~rtY,shall,use" Qe,ne.rate, m,an,ufacture, store, treat, dispose of
or release any Hazardous Substance on,Ljnder, ,~,b,oL,Jt '0\ }~p~, the', Prc¡p':J,\\y;" and ," (q!, ,anýs,l¡C;h' a:ctivity ,shall bE! conducted in compliance
with all applicable federal, state, and 10cal'laws, regulations and ordinances, including without 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 Lemler may deem
appropriate to determine compliance of the Property with this~ectipn ofthe Mortgage: Any inspections or tests made by Lender shall Je
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' ancfwaives any lfÙture' clai'msagaillst Lender for indemnity or contribution in the
event Grantor becomes liable for cleanup or other costs ,wider any such laws; and (2) agrees to indemnify and hold harmless Lender
against any and all claims, losses, liabilities, damage1,p~n?ltie's, a1ld .E!xPf!m¡~~ whi(jh Lenqerm,aY,directly or indirectly sustain or suffer
resulting from a breach of this section of the Mortgage or as a consequence of any use, generation, manufacture, storage, disposal, release
or threatened release occurring prior to Grantor's ownership or interest: in the Pro'pefty, whether Or not the same was or should have been
known to Grantor. The provisions of this section of the' Mortgage, including the obligatiorito indemnify, shall survive the payment of the
Indebtedness and the satisfaction and reconveyance of the lien of this' Mortgage and shall not be affected by Lender's acquisition of any
interest in the Property, whether by foreclosure or otherwist1;¡", .""",',' ,':: i, i,",
. - ,', :.' ; " ; "_;' t ì ' . , . .i "'.i . ~ ~'. _ , . \ \, " ! ',1' ; ;
Nuisance, Waste. Grantor shall not cause, conduct Ór [)e\(llii ,¡iny'n~i~änc'~~C:H c~,mhlit; permit, or sufter'any stripping of or waste on or to
the Property or any portion of the Property, Without limiting thè'gerierality ,of the foregoing,' G'ràntof wil,! not remove, or grant to any other
party the right to remove, any timber, minerals (including '()i! aniJg¡¡s); co'al, day,scÒrîa; soil; gra'vel or rock products without Lend¡;r's prior
written consent. ',ii' "',; I,; ',¡'; "!' "e;,' ',;"
1.
/
,¡It &¡
jilt
Removal of Improvements. Grantor shall not demolish or remove any lrT1provements' Irom the Real Property without Lender's prior written
consent. As a condition to the removal of any Improvements, Lender (nay reqLÚreGrantor, to makealrangernents satisfactory to Lender to
replace such Improvements with Improvements oféHlea:t' ec¡ual'val,u,e;' ',,' ' ,
Lender's Right to Enter. Lender and Lender's agents and reprE!,senta,tiveS may en~ei upon th¡¡ Real Property at all reasonable times to attend
to lender's interests and to inspect the Real Properiyforpurp'òsesofGrän~or'~ compliapce with:'lhe t~rmsandconditions of this Mortgage,
Compliance with Governmental Requirements. 'Grantor shan prompÙV' ¿o~pIY 'W¡tl<'¡;¡'III;ws¡.'ö~di~~nce's:Ja'nd :reglll~tions,now or, hereafter
in effect: of all governmental auth~ritie~ ,al)plic,iJ'bifj ,t~ ,~~e,u7e~r,oc,ç~p'?n'¿,y;q/lh,el~(?pe;ty", d,ra~lþrmaYc.onlest in good faith any such
law, or~lnance, or ~~gulatlon and \fJllh~~,ld cOTpllanpe ,d~r!~~, a~yp[op~e;dln~f I~Cll!d.l"~~, apP,rop~19tq,~ppe,ali"s~ long as Gr¡Jnto~ has notified
Lender In writing prior to dOing so and so long as,' In Lender s sole Opinion, Lender s Interests ¡nthe Property are not jeopardiz¡;d, Lende.r
may require Grantor to post adequate security or a 'sJrety'uond,reaso'nably satisiactqry to' Lènde'r,ioprot~ciÚnde'r's interest, .
.,' :".. " '.... .- ""-1" , . ." , .. ',-,
Duty to Protect. Grantor agrees nei~her to abandon or leave, unattended the Property. Gramorshall do all other acts, in addition to those
acts set forth above in this section, which from the character and wse of the Property are reasonably necessar'y to protect and preserve the
Property. ' '1""" , " I
TAXES AND LIENS. The following provisions relating lo'thetaxes'~nd liens on the Prop~rtv'a're pa;t of'this Mortgage:
Loan No: 76400332Q...-',~):j (108
,_1__-.:;""'-....... iI..
MORTGAGE
(Continued)
~:=LD Ò
Page 2
Payment. Grantor sllall pay when due (and in all events prior ~o delinquency) all taxes, pöyroll taxes, special taxes, assessments, water
charges and sevier service charges levied against or on account o'f 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 a'greed to in writing by lender, and except for the lien of taxes
and assessments not due as further specified in the Right to Contest par agn/ph. !
Right to Contest. Grantor may withhold payment of àny tâx,ass~ssment, oi' claim in c.onnection' with a good faith dispute over the
obligation to pay, so long as Lender's interest in the Property is not jeopardized, If a lien qrises or is filed as a result of nUl1payment,
Grantor shall within fifteen (15) days after the lien arises or, If a lien is filed, within fifteen (1'5) days after (3ral1tor I1iJS 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
satislactory to lender in an amount sufficient to discharge the lien 'plus . any costs and reasonable attorneys' fees, or other charges 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 any
adverse judgment before enforcement against the Property. ,ÇJrar]tor shal,l nar;ne 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 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 àdvance assurances satisfactory to Lender that Grantor
can and will pay the cost of such improvements. '
PROPERTY DAMAGE INSURANCE. The following provisions 'rel~ting to insuring ~hE! Property are a partof this Mortgage:
Maintenance of Insurance. Grantor shall procure and máintain policies of fire insùrance 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 lavcir of Lender, Policies shall be written by such insurance companies
and in such form as may be reasonably acceptable to Lender, Grantorshall'deliver to lender certificates of coverage from each insurer
containing a stipulation that coverage will not be cancelled or diminishedwithout,'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 any way by any act, omission or default uf Grantor or any
other person, Should the Real Property be located in an area designated by the, Director oflhe Federal Emergency Management Agency as
a special flood hazard area, Grantor agrees to obtain and maintain Federal Floodlnsurance,if available, for the full unpaid principal balance
of the loan and any prior liens on the property securing the loa'n, 'up to the maximum policy limits set under the National Flood Insurance
Program, or as otherwise required by Lender, and to må;intain 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 prQof of loss if Grantorfails ,to doso 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 önd apply tile
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 damaged or destroyed Improvements in a
manner satisfactory to Lender. Lender shall, u'pon satisfa¢J¢(y, ;1'/90(, of ',sµ'ch expenditure, payor reimburse Grantor from the proceeds for
the reasonable cost of repair or restoration if Grantor ,is nQt..in cjef~µlt under this Mortgage, Any proceeds which have not been disbursed
within 180 days after their receipt and which Lender has not'c;O'riirilittM(tò'the repair or restoration of the Property shall be used first to pdY
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 procel?,ds r¡.ft¡;r paYrnt;Jf)t in fq)1 ot t\18!ndebteçJ':1ess.. such proceeds shall be paid to Grantor
as Grantor's interests may appear.
,'¡; ,":
LENDER'S EXPENDITURES. If Grantor fails iA) to keep the Property free of ali'taxes, lie'ns,security interests, encumbrances, and other claims,
(S) to provide any required insurance on the Property, 'or" (CI' tu make repairs to the Property then 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 Lende(si[lterests, All expenses incurred or paid by Lender for
such purposes will then bear interest at the rate charged und,er tl)e ~ote tr qm the dat~ incUrred or paid by Lender to the date of repayment by
Grantor. All such expenses will become a part of Jhe Indebtednéss arid, at Lender's option, willlA) bé payable on demand; (S) be added to
the balance of the Note and be apportioned among and be p~yable with any . in~;tallm~nt paYlllent& to, become due during either (1) the term of
any applicable insurance policy; or (2) the remaining term.ot'thé'Note;or ,(c¡',,,b,e 'tre,qtéd,as a,~'?lloon payment which will be due and payable
at the Note's maturity. The Mortgage also will secure paYfTJe,nt9{ these,amounts, , The ,rights prpI(idedfor in thisparagraph shall be in addition
to any other rights or any remedies to which Lendérmaybe entitled on accounto( 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 oth¡Úwise wo~¡'dhave had,
WARRANTY; DEFENSE OF TITLE. The following prqvisi,ons r~IMing to ownership, qfthe.pr?perty 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 conneqio.n w,iththis Mortgage, and(Þ) Gral~tor has the full right, power, and authority to
execute and deliver this Mortgage to Lender. ' ,
Defense of Title. Subject to the exception in the piHagraph 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 actipn at,Gr,:,'\tor'sexpe[lsy, Grantor' maybe the n()minal 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 instruments as Lender may request lrom time to time to permit such
participation. '
.:.: ,,', ;"·:.f :
Compliance With laws. Grantor warrants that the Propert'{~'and GraQ,tor's use. pi the, Pro~erty cO llplies with all existing applicable laws,
ordinances, and regulations of governmental authorities:>',í" ,:'"", ;" ".
Survival of Promises. All promises, agreements, and stàteiTlents Grantor has madeinthis Mortgage shall survive the execution and delivery
of this Mortgage, shall be continuing in nature and shall remåin in full force and effect until such time as Grantor's Indebtedness is paid in
full. ~
CONDEMNA TION. The following provisions relating to condemn¡¡t¡òi) proceecJingsa~e a pàrt of this MQr,tgage:
Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take
such steps as may be necessary to defend the action ançJoþtain, the' award', , l4rantor may be ,th0 nominal party in such proceeding, but
Lender shall be entitled to participate in the proceeding ,and'to þe r,ep~esentedin the proceeding by counsel of its own choice, and Grantor
will deliver or cause to be delivered to lender such in$lruments, anlJ,doèu,mentation, as m¡¡y þ~ reqLJested by Lender from time to time to
permit such participation, '
Application of Net Proceeds. If all or any part of the Pro~erty is condemned by eminent domain proceedings or by any proceeding or
purchase in lieu of condemnation, Lender may at its electiOn rlòqui're'that all or any portion of the net proceeds of the award be applied to
the Indebtedness or the repair or restoration of the Prope~ty., ,Th,Ejf)et pro,ceeds 'of the award shall mean the award after payment of all
reasonable costs, expenses, and attorneys' fees incurred by Le'nder ili éonnection with the condemnation,
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUtHORITIES. Th~ifollovving provisions relating to governmental taxes,
fees and charges are a part of this Mortgage: ' """"
, ,
Current Taxes, Fees and Charges. Upon request by Lender.. Graf)tor$ha,l !)x¡'Jçute ,~uch doct,J'llents. ,in, addition to this Mortgage and take
whatever other action is requested by Lender ~o per,fect and continu.e~ef1qer's li,en on the Real Property, Grantor shall reimburse Lender for
all taxes, as described below, together with íJlI,expen~e~ inct,Jrred in r(;Jcording, perfecting or continuing this Mortgage, including without
limitation all taxes, fees, documentary stamps,' and othe,~ c,har~e$ .for recording or registE!ring this Mortgage,
Taxes. The following shall constitute taxes to wflich this section applies: 11) a specific tax upon this type of Mortguge 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 Ind"btedness secured by this type uf Mortgage; , 13) a,tax ol\'this type of Mortgage chargeable aQ,,;rr~t the Lender or the
".. " '" .., (' r-)
'..., ",'I, ,',' ~, " "'k.:
0.0 -"~'Li{:Vu
),)}{:'
(' (\ n ': 61
" ,) '-' v
loan No: 764003320
MQRTGAG~
(Continued)
Page 3
holder of the Note; and (4) a specific tax on all or anY;P'orti9'n' of thelhdebtedness or on payments of princip,,~ ,md interest made by
, . ,<: . ','
Grantor.
Subsequent Taxes. If any tax to which this sectio¡1 appli~s. is, enacted subsequent to ¡he date of this Mortgage, this event shall have the
same effect as an Event of Default, and Lender r\iayexercise' any or <¡II 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 th~ tax as provided above in the Taxes and Liens
section and deposits with lender cash or a suf(ici\Jnt corporate surety bç>nd pr other security satisfactory to lender.
, . ...." . :' ,i : . ',' _ ',' . '. , I .' .'," : . .' ~
SECURITY AGREEMENT; FINANCING STATEMENTS, The following pr6visidns .'relating to this Mortgage as a security agreement are a part of
this Mortgage: ' I";' '" " , ,
¡ ',. "
Security Agreement. This instrument shall constitute a Security ~greem,ent to the, extent any of, the, Property constitutes fixtures, and
Lender shall have all of the rights of a secured party under the Urufor~ CO~llmercial Code as, amended from time to time,
Security Interest. Upon request by lender, Grantor shal¡' tç¡kewhatever action is requested by Lender to perfect and continue Lenclel '$
security interest in the Personal Property, In addition to r,ecording this Mortgage inthe real property records, Lender may, at any time and
without further authorization from Grantor, file executed COLJnterparts, copies or reproduqions of this Mortgage as a financing statement.
Grantor shall reimburse Lender for all expenses incurred in perfecting or c9ntinuing this security interest, , Upon default, Grantor shall not
remove, sever or detach the Personal Property from the Property, Upon default, Grantor shall 'assemblp any Personal Property not affixed
to the Property in a manner and at a place reasonably convenient to Grantor 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 (detJtor)'a~d Lend~r (secúred' pårty) from' which information concerning the security interest
granted by this Mortgage may be obtained (each as required by' the Uniform Conin~'ircial Code) 'are as stated on the first page of this
Mortgage. '
FURTHER ASSURANCES; ATTORNEY-IN,FACT. The followi~þJ provi~ions 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 and deliver, or will cause to
be made, executed or delivered, to Lender or to Lender's designee, and when requested by lender, cause to be filed, recorded, reliled, 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 mOltoaoes,
deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
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 12) the liens ilnd
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 for ç¡lIcosts and e>.penses incurred in connection with the
matters referred TO in this paragraph. ' ,i,:' , ,
Attorney-in-Fact. If Grantor fails to do any of the things'referrpeJ to in the preceding paragraph,L~nder may do so for and in the name of
Grantor and at Grantor's expense, For such purposes, Grantor. hereby. irrevocably appoints lender as Grantor's attomey-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 Indebtednessw~ijf1, dp~" anq, qth~rwise performs all the obligations imposed upon Grantor under
this Mortgage, lender shall execute and deliver to Grantor a 'suitalJle'satisfactióh of this Mortgage and suitable statements of termination of any
financing statement on file evidencing Lender's secwity interest" in'th'¡¡ ,Rpnts: and the Personal Property, Grantor will pay, if permitted by
applicable law, any reasonable termination fee as determined by, Lender fr?!ll time tOlimp,
EVENTS OF DEFAULT. At lender's option, Grantor vvill 9¡¡ in default,undpr this fv1ortgag.e if any of thefollovving happen:
Payment Default. Grantor fails to make any paymentvvhen due under the Indebtedness,
Default on Other Payments, Failure of Grantor within the, time required py this Mortgdue to make any payment for taxes or insurance, 01
any other payment necessary to prevent filing of Or' to eflpct discharge 'òf any lien,',;'
;;; ," I, ", ,\ . :
Break Other Promises. Grantor breaks any promiseniad¡¡ to lender o[)ails to perfqr~l pr?mptly at the time and strictly in the manner
provided in this Mortgage or in any agreement related to this Mortoage.' . ': '
'; i :.: '-,.':" . i " . - ~ " ' ", ¡' , \, : ,- ,',i . " -' ", ' !, , '!", '_ :; :' ~
False Statements. Any representation or statemen't made or furnished '{oLender by.Grantor or on Grantor's behalf under this Mortgage or
the Related Documents is false or misleading in any :natefi~1 respect, either,now orat the time made or furnished,
Defective Collateralization, This Mortgage or any of the Rel¡¡tedDocuments' ceas'es to be infu' J forcy and effect (including failure of any
collateral document to create a valid and perfected 'secÙ~ity'interès't 'or lien) at any ìime 'and for àny reason,
Death or Insolvency. The death of Grantor, the in~olvèn!cyofGrantor, th~ ~pp~int:rne~Cóf areceiver'for allY part of Grantor's property, any
assignment for the benefit of creditors, any type pf ~r~?itorvyo,rkol.Jt, or the CQnlm,elìGempi)¡ of allY proceeding under any bankruptcy or
insolvency laws by or against Grantor. ' ,
Taking of the Property. Any creditor 01 governmental agencytr¡ês 'to take any of 'the Property or any other of Grantor's property in which
Lender has a lien, This includes taking of, garnishin¡l of'or 'levying on Grantor's 'accounts with Lender"However, 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. syr~tybqnp"satisfactqr,yto Lend,er to satisfy the claim, then this default provision will
not apply. ' ' . ,;>
Breach of Other Agreement. Any breach by Grantor under the tèrms of any other agreement between Grantor and Lender that is not
remedied within any grace period provided thereifl.. including.,vv,ithout ,Iimitationç¡ny agreement concerning any indebtedness or other
obligation of Grantor to Lender, whether existing now or later.
Events Affecting Guarantor. Any of the preceding events ÇJccursvy,ithre~pect to any, guarantor, ei)dorser, surety, 01 accommodation party
of any of the Indebtedness or any guarantor, endorser, surety, or, accommod¡¡tion party dies or becomes incompetent, or revokes or
disputes the validity of, or liability under, any Guaran1Y,ofthé Ifl,de,bti3dnes,s,:ln.trle,yyentç¡fa death, L,i3nder, at its option, may, but shall
not be required to, permit the guarantor's estate, to ,assume uncç)f~ditionally ttleobligations arising under the guaranty in a manner
satisfactory to Lender, and, in doing so, cure any E~ent :otD~fç¡ult: ..' ."." " "
Insecurity. Lender in good faith believes itself insecure!',' ,
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurreni;e?fan)y~nt ~I Defa,ult pndç¡tany time l~\'fe¡,¡fter but subject to any limitation in
the Note or any limitation in this Mortgage, lender, at Lender's, option, may exercise anyone qrmore 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 optiqn wi~tio.utno¡'¡ce to Grailtor to declare the entire Indebtedness immediately
due and payable, including any prepayment penalt,\:' whiAtl, Grantorvyquld be r¡Jqu¡~eq !O' ~ay~ ' ,
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 lîotice ita' 'Gra:nt6r;t()'take possession of the Property, including during the pendency of
foreclosure, whether judicial or non-judicial, and collect theRents,incl'uding 'amoUnts past due and unpaid" and apply the net proceeds, over
and above Lender's costs, against the Indebtedness, In furtherance of. this rìght, Lender may require any tenant or other user of the
Property to make payments of rent or use fees direçtly to Li3nder, If.~heRen1s are .collected by lender, then Grantor irrevocably designates
lender as Grantor's attorney-in-fact to endorse instruments, récéived in payment thereof in the name of Grantor and to negotiate the same
and collect the proceeds, Payments by tenants or other Users to lender :in respon~.., to lender's demand shall satisfy the obligations for
which the payments are made, whether or not any prÒpi3( grounds for thpdemand existed, Lender may exercise its rights under this
subparagraph either in person, by agent, or thr.ou¡:J1l P reç~i\(èr:': ;.',.':: :'" ' "..' '" ;
Appoint Receiver. Lender shall have the right to havp a receiyer appointed to take possession of all or any part of the Property, with the
power to protect and preserve the Property, to ,ope,ate the Property preceding foreclosù're or sale, and'to cOllect'the Rents from the
Property and apply the proceeds, over and above th'i 'cQst of therecpivership, aoainst the Ind,ebtedness, The receiver may serve without
bond if permitted by law, Lender's right 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 fronl serving as a receiver.
Loan No: 764003320
'" ',,(; i',; "/tC!
\U~) _\J'-::~UU
MÇ)RTGAGE
(Continued)
," n" c ')
Uv.Ju~
Page 4
. ".
! ,'-" ',' -.", ... .
Judicial Foreclosure. Lender may obtain a judicial decreeJoreclosingGràntor's interest in all or any part of the Property.
Nonjudicial Sale. Lender may foreclose Grantor'sirHeresUn allOr ill a'n'{pðrtoftlwProperty by no~'-judicial sale, and specifically by "power
of sale" or "advertisement and sale" foreclosure 'asprovid~d by statuw: '" ,"" ','" ";
, -' I " ....: '; ..r... ," '. " .;. :
Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency 'remaining in the Indebtedness due
to Lender after application of all amounts received Irom the exercise of the rights provided in this section,
Tenancy at Sufferance. If Grantor remains in possessiqnof the 'Property after the Propertý is sold as provided above or Lender otherwise
becomes entitled to possession of the Property úpon default of Grantor, ßrantor shall become a tenant at sufferance of Lender or the
purchaser of the Property and shall, at Lender's option, ,e,ither (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 proyid~? in this Moitg,age 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 PlcJperty 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 puþlic sale 01'\ all or anypqrtion of the Property,
Notice of Sale. Lender will give Grantor reasonable notice of the time and plé\ce of an,! public sale of the Personal Property or of the time
after which any private sale or other intended disposition of the Persona! Property is to be made, Reasonable notice shall mean notice
given at least ten (1 OJ day~ 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¡ernecJies will be cúrr¡ulijtive andllìay be exercised alone or together, An election by
lender to choose anyone remedy will not bar Lenderfr6ll!using anyo!her remedy, Iflenç er decides to spend rnon"y or to perform any of
Grantor's obligations under this Mortgage, after Gralltor'sfailure todo ~o, that, decision by Lendl:r 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 er¡force any of the terms of this Mortgage, Lender shall be entitled to
recover such sum as the court may adjudge reasonable as 'attorn~ys' fees attri'!l and upon any appeal. Whether or not any court action is
involved, and to the extent not prohibited by law, all reasQnable 'expenses lender incurs, that in Lender's opinion are necessary at any time
for the protection of its interest or the enforceinent of its 'rights shall become a part of the Indebtedrll:ss payable on demand and shall bear
interest at the Note rate from the date of the expenditure until repaid, Expenses.covered by this paragraph include, without limitation,
however subject to any limits under applicable law, Lender's r¡iasonabl¡; attorneys' fees and Lender's legal expenses whether or not there is
a lawsuit, including reasonable attorneys' fees after defaLlltand referral to an aqorney not' Lender's s\llaried employee 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'titlè reports (including foreclosure reports), surveyors' reports, and appraisal
fees and title insurance, to the extent permitted by applicabie law, Grantor also wiilpay any court costs, in addition to all other ~urns
provided by law. ..,
NOTICES. Any notice required to be given under this Mortgage,"¡nCIJding without li~itaiion' an'{noticeofdefault and any notice of sale shall be
given in writing, and shall be effective when actually delivered, when actLially ieceived 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, níJíJ[ the, i:J"eginning of this Mortgage, All copies of notices of foreclosure from
the holder of any lien which has priority over this Mortgage shall'tiè "s~nf tÒ\ènder's address, as shown near the beginning of this Mortgage,
Any person may change his or her address for notices unçjer,thisMortgage~'y 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 Lender informed at all
times of Grantor's current address, Unless otherwise provided Or re'quired 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' beGrantor's responsibility to tell the others of the notice from Lender,
MISCELLANEOUS PROVISIONS. The following miscellaneous pr~visions are, a'par\ of this Mortgage:; " "
Amendments. What is written in this Mortgage '~ncJinthêRelátedÒocuments is Grantor's entire agreement with Lender concerning the
matters covered by this Mortgage. To be efféctive, any change Or amendment to this' Mortgage must be in writing and must be signed by
whoever will be bound or obligated by the change or amendment, ' ",
Caption Headings. Caption headings in this Mortgage are, for' conveniencè purposes Only and are not to be used to interpret or define the
provisions of this Mortgage. " ¡,
'. ,-, -",. ,.,' ",' '-', ',." ',' '. ," i
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 lias been accepted by lender in the State of
Wyoming. ' ii, '
Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's' reque~t to submit to'thejurisdiction of the courts of Lincoln County,
State of Wyoming,
,',,-, . ,:.',:',- ",: .. -,--- '.'-' ,,'
Joint and Several Liability. Ail obligations of GrantOr under this Mortgag'e shall bè joint and sev~ral, and ail references to Grantor shail mean
each and every Grantor. This means that each Grantor signing below isrespqnsible for all obligations in this Mortgage,
No Waiver by Lender. Grantor understands Lençjerwilj>Aoi,Oiv~ up'anyofLend~r'srights'Llnder this Mortgage unless Lender does so in
writing, The fact that Lender delays or omits to exercise any right'wilf not mean th~t Lender has given up that right, If Lender does agree
in writing to give up one of Lender's rights, that does nqt l1ìeqn Grantor will not have to comply with the other provisions of this Mortgage,
Grantor also understands that if Lender does consent to;a re'lu~st, that dOe'snotll!ean that Grantor will not have to get Lemjer's consent
again if the situation happens again, Grantor furthEir, u,nderstanqsthatjust 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 future 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 th\sJ'y1ortgage ,are, prior to Grantqr's rights while thi~ Mortgage remains in effect.
Severability. If a court finds that any provision of this Mortgage is not valid 'or should not be enforced, that fact by itself will not mean that
the rest of this Mortgage will not be valid or enforced, T/lerefore, a cOurt will enforce the rest of the provisions of this Mortgage even if a
provision of this Mortgage may be found to be invalid or unenforceable,
'. .. . '..~.'.! :)- ,... :. - ..!.,: . .: ."- ' '.' . .
Merger. There shall be no merger of the interest or esta,te crE;\ltßd by this MOrlgägewiÙj any other ,interest or estate in the Property at any
time held by or for the benefit of Lender in any capacity; ;vyithqut t,lìé vyrit~e,n cqnserit ~f Le~der, '. .
Successors and Assigns. Subject to any limitations state9 in this Mortgage on transfer of Grantor's interest, this Mortgage shall be binding
upon and inure to the benefit of the parties, their successors' ¡¡nd assigns, If 'Ownership of the Property becomes vested in a person other
than Grantor, Lender, without notice to Grantor, may deal with Grantor's succ.es,sors with reference to this Mortgage and the Indebtedness
by way of forbearance or extension without releasing Grantor from the obligationsof this Mortgag~ or liability under the Indebtedness,
Time is of the Essence. Time is of the essence in th8performande of this Mortgage.
Waiver of Homestead Exemption. Grantor hereby relea$~s. and waivesallrigtits an'd'benefitsof,thehornestead exemption laws of the State
of Wyoming as to all Indebtedness secured by this Mortg'aç¡e";',,¡'i," " :.; ", ." ' , , ,
DEFINITIONS. The following words shall have the following me'¡j8ih9~'w~~,h '.us'~din this Mortoage:
Borrower. The word "Borrower" means DAYIPJ,'BAÇf;irviÄ'N.N'~ndjTR!NI[)A,q, B.i'\CHMANN an({includes all co-signers and co-makers
sioning the Note and all their successors and assigns. , ',' , . - -. ,r
Environmental Laws. The words "Environmental' Laws" , "anY',aneJ"allstate';' federal ,and local statutes, regulations and ordinances
relating to the protection ,of human health or the, environnl€nt" including ,wilhoutlirnitation the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as ,amended" 42 V,S,C.. ?ectioiì 9601, etseq',' ("CERCLA"), the Superfund Amendments and
Reauthorization Act of 1986, Pub, L, No, 99-499 ("SARA"), thèHazardous Materials Transportation Act, 49 U,S,C, Section 1801, et seq"
the Resource Conservation and Recovery Act, 42 U,S,ç, ':Sectiqn 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 of default set forth in this Mortgage in the events of default
section of this Mortgage.
;1; I.
.,:.;.;::".;.:¡
',:.'.',,'.'.
,.. ..:...."...;..
(ò 'Î n " ,
'," f) . ..: D '"t
.~.. " \.' V V
Loan No: 764003320
',,' " " ,.. (' r)
, . Ii. ...... I ,-~,. r·,;_.' ,', ~;'.
'U ,-j~L' -i'--fi: Ù Ö
MORTGAGi:
(Continued)
Grantor. The word "Grantor" means DAVID J. BACHMAN'N ¡¡nd TRINIDÂDBAC~MANN.
Guaranty. The word "Guaranty" means the guaranty frofTI, guarantqr,end()'r~er, surety, or accorpmodation party to Lender, including
without limitation a guaranty of all or part of th¡¡ Note,' ,
Hazardous Substances. The words "Hazardous Substances" mean materials that, because, ofthl,irquantity, concentration or physical,
chemical or infectious characteristics, may cause ()r pose, a pr,esentor potef1tic¡l hazard to hUrnan health or the environment when
improperly used, treated, stored, disposed of, generated,manufactured, transported or otherwise handled, The words "Hazardous
Substances" are used in their very broadest sense ¡¡nd include yvithoutlill1itation any and all hazardous or toxic substances, materials or
waste as defined by or listed under the Environmental l~VYs. The te(111' "Ha'zardous ?ubstances" aby includes, without limitation, petroleum
and petroleum by-products or any fraction thereof and asbestos, '
Improvements. The word "Improvements" means '111 existing and future improvements, buildings, structures, mobile homes affixed on the
Real Property, facilities, additions, replacements and other construction on the Re¡¡1 Property,
Indebtedness. The word "Indebtedness" means all principal, interest, and otht;r amounts, costs and expenses payable under the Note or
Related Documents, together with all renew¡¡ls of, extensions of, modifications of, consolidations of and substitutions for the Note or
Related Documents and any amounts expended or advanc¡¡d by lender to discharge Grantor's obligations or expenses incurred by Lender to
enforce Grantor's obligations under this Mortgage,together with intereston. such arr.1Ounts as provided in this Mortgage.
lender. The word "Lender" means FIRST NATIONAL BANK, WEST, its successors and assigns, The words "successors or assigns" Illean
any person or company that acquires any interes,t ,in the, Note,,,
Mortgage, The word "Mortgage" means this Mortgage betvyeen Grantor and Lender,
Note. The word "Note" means the promissory note d<)ted November 28,2005, in the original principal amount of $5,492.24
from Grantor to Lender, together with all renewals 'of,'extensions of. modificalionsof, refinaf]cings of, consolidations of, ami suLJstitutiClns
for the promissory note or agreement, The maturity date of ¡his Mortgage is December 3, 2008,
Personal Property. The words "Personal Property"ine~fl allequiplllent,fixlufes¡ arid other articles of personal property now or hereafter
owned by Grantor, and now or hereafter attached or affixed to th¥Real'Proper'ti¡; together with all accessions, parts, and additions to, all
replacements of, and all substitutions for, any of such property; and tögether"with all 'proceeds (including without limitation all insurance
proceeds and refunds of premiums) from any saleór other disposition ofthe Property:
Property. The word "Property" means collectively the R~~I, Property and the Personal Property, ,
Real Property. The words "Real Property" mean th,e real property, intei~~~sandrights, as further described in this Mortgage,
Related Documents. The words "Related Documents" mean allprömissory notes, credit agreements, loan agreements, environmental
agreements, guaranties, security agreements, mortgages, deeds of trust, 'security deeds,collater,al mortgages, and all other instruments,
agreements and documents, whether now or hereafter~existil1g, executed'jn cO,rin~ctiof] with the Indebtedness.
Rents. The word "Rents" means all present and futur~.rents, revef]ues,. income, issues, royalties, profits, and other benefits derived from
the Property.
Page 5
EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE' PROVISIONS
TERMS.
THIS MORTGAGE, AND EACH GRANTOR AGREES TO ITS
¡\':¡,j;) r~ I'l:-,'
x ".~
TRINIDAD-BACHMANN
INDiVIDÙAL. ACKNÓVVLEbGMENT-
STATE OF Wu.":............,,, ""u"\.,
-.;j--J
SETH C, JENKINS NOTARY PUBLIC
COUNTY OF ~ STATE OF
LI~ COL~ _ WYOMING
MY CC\:'.í'm~~ (2N EXf'IRES JUNE 17 2009
-';"~::':";~~-"~~",~'.:.
COUNTY OF L\ "'C'-'. \......
On this day before me, the undersigned Notary Public, persQnally appeared DAVID J.BACHMANNand TRINIDAD BACHMANN, to me known to
be the individuals described in and who executed th~ tv'!ortgaq~,and acknowledgedth~t th'e'y'signed the Mortgag~ as their free and voluntary act
and deed, for the uses and purposes therein ment~Ot\d. ' .: ,': ~l".
Given u er my hand and OffiCia4' ollh'ì) ~'ð" "~y of ,~'k~~~~r.". .... (' ,20 6S' __
By _ ,¿ _/v'\.M ""~ Residing at LfI",-.d......... ../C'j",\-~
W ' '1'''' .:)
Notary Public in and for the State of ~t. '."'r-.\ f'G\," .IVIY ,commission ,expires, 6- \ - ~6Q' ~__
i ,,)
WY p,',CFIILPL\G03FC TR-518