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JUiCORDÀTION HEQUEsTI:n~BY:
The Conver.. C01II1ty Bank
PO Drawer 689
322 Walnut
Douglas, WY 82633
("\ (1 (1174·
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WHEN RECORDED MAlL TO:
The Converse County Bank
PO Drawer 689
322 Walnut
Douglas, WY 82633
RECEJVED 1/9/2006 at 11 :31 AM
RECEIVING # 915053
BOOK: 609 PAGE: 174
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SEND TAX NOTICES TO:
ClARK.l MOSIER
NANCY A MOSIER
PO BOX 1748
AFrON, WY 83110
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SPACE ABOVE TtUS .LINE IS FOR RECORDER'S USE ONLY
MORTGAGE
THIS MORTGAGE dated December 8. 2005, is made :and executed between CLARK 1. MOSIER :and NANCY A
MOSlER, HUS8AND AND WIFE, whose address 1s PO BOX 1748, AFTON. WY 83110 (referred 10 below :as
"Grantor") and The Converse County Bank, whose :address 1s PO Drawer 689, 322 Walnut, Douglas, WY 82633
(referred 10 below:as ".Lender").
:GRANT Of MORTGAGE. For valuable =naJdaratlon, Grantor mortgages ~ =nveYIi"to .lender BII of GrBntor's right, title, Bnd intBrsst in and "to
~ following described real property, together with all existing or subsequently srected or affixed lwildings, improvements and fixtures; .It
ilaSements, rights of way, and appurtenances; Bit water, water rights, watercourses and ditch rights (including stock in utilities with ditch .or
irrigation rights); and alt other rights, royalties, and profits relatinQ to 1he real property, including without limitation Bit minerals, oil, gas,
geothermal and similar matters, (the "Real Property") located In l.INC01.N County, State of Wyoming:
Part of 1.ot 2 of Block 26 of Afton Townsite, lincoln County, Wyoming being more particuJary described :as
follows:
Commencing at 1he Southwest corner of said 1.ot 2 and running
thence North 7.5 rods;
thence East ten rods;
thence South 7.50 rods;
thence West 1en rods 10 the point of beginning,
The Real Property or its address 1s commonly known:as 541 MADISON AVENUE, AFTON, WY 83110.
CROSS-COl.lATERAl1ZATION. In addition to the Note, 1his Mortgage secures alt obligations, debts and liabilities, plus interest therson, of
Borrower to .lender, or anyone or more of them, as welt as all {:Iaims by .lender against Borrower or anyone or more of them, whether now
sxisting or hereafter arising, whether related or unrelated to the purpose of 1he Note, whether voluntary or otherwise, whether due or not due,
direct or indirect, determined or .undetermined, absolute or contingent, liquidated or unliquidated whether Borrower or Grantor may be liable
individualty or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether rscovery .upon such
.mounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or
tJereafter may become otherwise unenforceable. If the .lender is required to give notice of 1he right to {:ancel .under Truth in .lending in
{:onnection with any additional loans, sxtensions of credit and other liabilities or obligations of Grantor to .lender, 1hen 1his Mortgage shall not
secure additional loans or obligations unless and until such notice is given.
Grantor presently .assigns to .lender all of Grantor's right, title, and intersst in Bnd "to all present and future leases of 1he 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.
,.tlJS MORTGAGE, JNCWDING THE ASSIGNMENT OF RENTS AND THE SECURITY JNTEfŒST IN THE RENTS AND PERSONAl PROPERTY, JS
GIVEN TO SECURE IA) PAYMENT Df THE INDEBTEDNESS AND (8) PERFORMANCE Of ANY AND All OBlIGATIONS UNDER THE NOTE,
THE RElATED DOCUMENTS, AND TtllS MORTGAGE. THIS MORTGAGE JS GIVEN AND ACCEPTED DN THE FOUDWING TERMS:
GRANTOR'S WAIVERS. Grantor waives.1I rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or .ny other law
which may prevent .lender from bringing .any action .against Grantor, including a claim for deficiency to the sxtent .lender is otherwise sntitled"to
a {:Iaim for 'deficiency, before or after .lender's commencement or completion of any foreclosure action, either judicially or by exercise of a
:power of sale.
GRANTOR'S R£PfŒSENTATIONS AND WARRANTJES. Grantor warrants that: (al1his Mortgage is executed at Borrower's request and not.at
the request of .lender; Ib) GrBntor has the full power, right, and authority to enter into 1his Mortgage and to hypothecate the Property; (clthe
provisions of 1his Mortgage do not conflict with, or result in a default .under any agrement or other instrument binding .upon Grantor and do not
result in a violation of any law, rsgulation, {:ourt decre or order applicable to Grantor; (d) Grantor has established Bdequate means of obteining
from Borrower on a continuing basis information about Borrower's financial condition; Bnd (e) .lender has made no representation to Grantor
about Borrower (including without limitation the creditworthiness of Borrower).
PAYMENT AND PERFORMANCE. Except as otherwise provided in 1his Mortgage, Borrower shall pay to .lender all.lndebtedness secured by this
Mortgage as it becomes .due, and Borrower and Grantor shall strictly perform all Borrower's and Grantor's obligations under 1his Mortgage.
POSSESSION AND MAINTENANCE DF THE PROPERTY. Borrower and Grantor agre that Borrower's and Grantor's possession and .use of ~
Property shall be governed by the following provisions:
PDU...lon Jlnd Us.. Until ~ occurrence of .n Event of Default, Grantor may (1) remain in possession and control of 1he Property; (2)
lJSe, operate or manage the Property; and (3) collect the Rents from the Property.
DJJty "to MaIntaIn. Grantor Jlhall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
maintenance necfiJlary to preserve its value.
Compliance With Envlronm8ntal.lews. Grantor represents .nd warrants tl) .lender "that: (1) During the period of Grantor's ownership of
the Property, there has been no .use, generation, manufacturs, storage, treatment, disposal, release or thrsatened release of any tlazardous
Substance by any person on, under, about or from the Propertý; (2) Grantor has no knowledge of, or reason to believe that there has
been, sxcept as prsviously disclosed to .nd acknowledged by Lender in writing, (a) any breach or violation of any Environmentall.aws,
(b) any use, generation, manufacture, storage, treatment, disposal, release or 1hreatened release of any tlazardous Substance on, under,
.about or from 1he Property by any prior owners or occupants of~ Property, or (cl any actual or threatened litigation or claims of .ny
kind by any person ftllating"to such matters; and (31 Except as prsviously disclosed to and acknowledged by .lender in writing, (a) neither
Grantor nor .ny tenant, contractor, agent or other BUthorized .user of the Property shall.use, generate, manufacture, store, "treat, dispose of
or release .ny tlazardous S.ubstance on, .under, about or from "the Property; and (bl .ny such activity shall be conducted in compliance
with all applicable federal, state, and Io{:allaws, regulations and ordinances, including without limitation all Environmental.lews. Grantor
.authorizes Lender .nd its Bgents"to snter .upon the Property to make such inspections and tests, at Grantor'ssxpense, as .lender may deem
appropriate to determine compliance of 1he Property with this section of the Mortgage. Any inspections or tests made by.lender Jlhall be
for .lender's purposes only and shall not be {:onstrued"to {:reate any responsibility or liability on the part of .lender to GrBntor or to any other
person. 1M reprilSentations and warranties contained hersin .re based on Grantor's due diligence in investigating the Property for
tlazardous Substances. Grantor hereby (1 ) releases and waives any future claims against .lender for indemnity or contribution in ~
event Grantor becomes liable for {:leanup or other {:osts .under .ny such laws; and (21 agrees to indemnify and hold harmless .lender
.gainst .ny and all claims, Josses, liabilities, damages, :penalties, and cSxpenses which .lender may .directly or indirectly sustain or s.uffer
rssulting from a breach .of this section of 1he Mortgage or.as a {:onsequence of any .use, generation, manufacture, storage, disposal, rslease
or 1hrsatened release occurring prior "to Grantor's ownership or intBrest in 1he Property, whether or not the same was or should have been
known to Grantor. Ihe provisions of 1his section of the Mortgage, including ~ obligation to indemnify, shall survive the payment of the
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MORTGAGE
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IndebtedneSlr and the satisfactiOIT and reconveyanc& of thlf lien of this Molt¡Jaglf and shall I'TOt blf affected by Lender's acquisitiolT of any
interest ilT thlf Property, whether by foreclosurlf or otherwislf.
Nuhnrrrell'. WIIStII'. Grantor shall I'TOt caUSlf, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste OIT or tu
th!f Property or any portiOIT of the Property. Without limiting thlf generality of the foregoing, Grantor will not remove, or grant tu any other
party the right tu remove, any timber, milTerals lincluding oil and gas', coal, clay, scoria. soil. gravel or rock product!J without Lender's prior
writtelT consent.
Removal of Improvemenm. Grantor shall not demolish or remove any Improvement!f from th!f Real Property without Lender's prior writterT
consent. As a conditiOIT tu the removal of any Irnprovement!f, lender may require Grantor tu make al'T8ngemenm satisfactory tu Lender tu
replace such Improvement!f with Improvement!f of at least equal value.
Lender's Right to Eimtr. Lender and Lender's agenm and representatives may enter UpOIT thlf Real Property at all reasonable times to attend
to lender's interests and tu inspect the Real Property for purposes of Grantor's compliance with th!f terms and conditions ot this Mortgage.
Complllll'TClI' with Go"..........'tal Requh.......ts. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
ilT effect, of all govemmentalauthorities applicable tu the use or occupancy of the Property. ilTcludilTg without IimitatiolT, thlf Americans
With DisabilitieS' Act. Grantor may contest ilT good faith any such law, ordinanclf. or regulatiolT and withhold complialTce during any
proceeding, including appropriata appeals, so long as Grantor has notified lender ilT writing prior to doing so and so long as, ilT lender's
sole opiniolT, lender's interests ilT the Property are not jeopardized. Lender may require Grantor to post adequllt& security or a surety bond.
reasonably satisfactory to Lender. to protect lender's interest.
Duty to Protect. Grantor agrees neither to abandolT or leave unattended the Property. Grantor shall do all other acts, in addition to those
acts set forth above ¡IT this sectiOIT. which from the character and USIf of the Property are reasonably necessary to protect and preserve the
Property .
TAXES AND UENS. The following provisions relating to thg taxes and liens OIT the Property are part of this Molt¡Jage:
Pttymertt. Grantor shall pay whelT due (and in all event!f prior to delinquency' all taxes, payroll taxes, special taxes, assessment!f. water
charges and sewer service charges levied against or OIT account of the Property, and shall pay whelT due all claims for work done OIT or for
services relTdered or material furnished to the Property. Grantor shall maintailT the Property free of any liens having priority over or equal tu
thlJ interest of lender under this Mortgage, except for the Existing Indebtedness referred tu ilT this Mortgage. or thoslJ liens specifically
agreed tu ilT writing by Lender. and except for thlJ lIelT of taX&!J and assessment!f not dUIf as further specified ilT thlf Right to Contest
paragraph.
Right: to Contest. Grantor may withhold payment of any tax, assessment. or claim ilT connectiolT with a good faith dispute over th&
obligatio IT to pay, so long as Lender's interest in the Property is not jeopardized. If a lielT arises or is filed as a result of nonpayment;
Grantor shall withilT fifteen (T ff) days after the lIelT arises or, if a lIelT is filed, withilT fifteelT (T ff) days after Grantor has noticlJ of the filing.
secure thlf discharge ot thlflielT, or if requested by lender, deposit with lender cash or a sufficient corporat& surety bond or other security
satisfactory to Lender ilT alT amount sufficient to discharge the lielT plus any costs and reasoneble attorneys' fees, or other charges that
could accrue as a result ot a foreclosure or sale under thlf lielT. lIT any contest, Grantor shall dlffend itself and lender and shall satisfy any
adverse judgment before enforcement against thlf Property. Grantor shall name lelTder as alT additional obligelf under any surety bond
furnished ilT the contest proceedings.
EVldenclf of Payment. Grantor shall UpOIT demand furnish to Lender satisfactory avidence' of payment of the' taxes or assessment!f and shall
authorize thlf approprillt& governmental official to deliver to lender at any timlf a writtelT statement ot the taxes and assessments against
thlf Property.
Nottclf of ConstructlOIT. Grantor shall notify lender at: least fifteelT (T ff) days before any work is commenced. any services are furnished, or
any materials are supplied to the Property, if any mechanic's lielT, materialmen's lielT, or other lIelT could be asserted OIT account of thlf
work, services, or materials. Grantor will UpolT requlfst of lender furnish to Lender advanclf assurances satisfactory to lender thet Grantor
calT and will pay the cost of such improvement!f.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring thlJ Property are apart ot this Molt¡Jage:
Maintenance of InsunmCIf. Grantor shall procure and maintain policies of fire insurance with standard extended coverage. endorsement!f OIT
a replacement basis for thlJ full insurable value covering all Improvement!f on th&' Real Property ilT alT amount sufficient to avoid applicatiolT
of any coinsurance clauslf, and with a standard mortgagee claus&' ¡IT favor ot Lender. Grantor shall also procurlf and maintailT
comprehensive general liability insuranclJ ilT such coveraglf amounts as lender may request with Lender being named as additional insureds
ilT such liability insuranclJ policies. Additionally, Grantor shall maintailT such other insuranclf, includin ¡ but not limited to hazard, business
interruptiolT and boiler insuranc& as lender may require. Policies shall be writtelT by such insurance companilfs and ilT such form as may blJ
reasolTably acceptabllJ to lender. Grantor shall deliver to lender certificates ot coverage from each ilTsurer containing a stipulatiol'f thlrt
coverage' will not be cancelled or diminished without a minimum of telT ITa) days' prior writtelT noticlf to lender and I'TOt containing any
disclaimer ot thlf insurer's liability for failure to give such notic&'. Each insuranc&' policy also shall includlf alT endorsement providing thet
coverage ilT favor of lender will not be impaired il'f any way by any act, omissiolT or detault of Grantor or any other persolT. Should thlf Real
Property blf located ilT an are& designated by thlf Director of the Federal Emergency Management Agency as a special flood hazard area,
Grantor agrees to obtailT and maintailT Federal Rood Insurance, if available. within 40 days after notiCIf is given by Lender that thlf Property
is located ilT a special flood h&zard area, for the full unpaid principal balal'TClJ of thlJ 10aIT and any prior liens on the property securing thlf
loalT, up to th& maximum policy limits set under th!f NatiolTal Rood Insurance. Program, or as otherwise required by Lender, and to maintail'T'
such insurance for thlJ term of thlf 10alT.
AppllcatlolT of Proceeds. Grantor shall promptly notify lender of any loss or damage' to thlf Property. l&nder may make proof of loss if
Grantor fails to do so withilT fifteelT (Tff) 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 thlf proceeds to the reductiolT of the Indebtedness, payment of any lielT
affecting the Property, or the restoratiol'f and repair ot the Property. If lender elects to apply the proceeds to restoration and repair, Grantor
shall repair or replace the damaged or destroyed Improvement!f in a marmer satisfactory to Lender. Lender shall, UpOIT satisfactory proof of
such expenditure, payor reimburse Grantor from thlf proceeds for the reasonable cost of repair or restoratiol'f if Grantor is not in defl!Ult
ulTder this Molt¡Jage. Any proceeds which have I'TOt been disbursed withilT 180 days after their receipt and which lender has not
committed to the repair or restoratiolT ot the Property shall be used first to pay any amount owing to Lender under this Mortgage', then to
pay accrued interest, and thlf remainder. if any, shall blf applied to the principal balanclf of the Indebtedness. If Lender holds any proceeda
after payment in full ot the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear.
CompllenclJ with Existing Indebtedness. During the period in which any Existing Indebtedness described below is ilT effect, compliance with
the insurance' provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the insuranclf
provisions under this Mortgage, to thlf extent compliance with the terms of this Mortgage. would constitute II duplicatiolT of insuranc&
requirement. If any proceeds from the insurance become payable on loss, th& provisions in this Mortgaglf for divisiolT of proceeds shall
apply only to that portiOIT of the proceeds not payabllf to the holder of the Existing Indebtedness.
lENDER'S EXPENDITURES. ·If any action or proceeding is commenced thlJt would materially affect Lender's interest ilT the Property or it Grantor
fails to comply with any provisiolT ot this Molt¡Jage or any Ralated Documents, including but not limited to Grantor's failure to comply with any
obllgatiolT to maintailT Existing Indebtedness in good standing as required below, or to discharge or pay whelT due' any amounts Grantor is
required to discharglf or pay under this Mortgage or any Related Documents, lender on Grantor's behalf may (but shall not be obligated tol take
any action that: lender deems appropriata, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances
and other claims, at any timlf levied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property. All
such expenditures incurred or paid by lender for such purposes will thelT bear Interest at the rate charged under thlJ Note from thlf 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 OIT demand; (8) be added to the balance ot the Note and be apportioned among and be payable with any installment payments
to become dUIf during either (T) th& term of any applicabl&, insuranclf policy; or '2J the remaining term of thlf Note; or (C) be treated as a
blllloolT payment which will be du& and payable at the Note's maturity. The Molt¡Jage also will securlf payment of these amount!f. Such right
shall be ilT additiolTto all other rights and remedies to which Lender mayblJ entitled UpOIT Default.
WARRANTY; DEFENSE OFTTTtE. The following provisions relating to ownership of thlf Property are a part of this Mortgage:
TitlIJ. Grantor wal'T'ant!f thllt: (a) Grantor holds good and marketabllf title ot record to the Property ilT fee' simple, free' alTd clear of all liens
and encumbrances other than thoslf set forth ilT the Real Property description or lIT the Existing Indebtedness sectiolT below or ilT any titllf
insuranclJ policy, title'report, or final title opiniolT issued ilT favor of, and accepted by, lender ilT connection with this Molt¡Jage, and (b)
Grantor has the full right, power, and authority to execute and deliver this Molt¡Jage to lender.
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MORTGAGE
(Continued)
n n " 76
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PBge 3
Defense of Title. Subject to the ilxceptionin the paragraph above, Grantor warrants and will iorever Defend the title to the Property against
the lawful claims of all persons, In the event any action or proceeding is commencild that questions Grantor's title or the interest of .Lender
under this Mortgage, Grantor studl Defilnd the action at Grantor'¡¡ expense. Grantor may be the nominal party in ¡¡uch procileding, .but
.Lender ¡¡hall be ilntitled to participate in the proceeding and to be represented in the proceeding by counsel of .Lender's own choic8, and
Grantor will deliver, or cause to be Deliverild, to .Lender such instruments as .lsnder may request irom time to time to permit .sw:h
participation.
Compliance Wtth Laws. Grantor warrants that the Property and Grantor's use of the Property complies wtth all ilxisting applicable laws,
ordinances, and ragulations of governmental authorities.
Survival of Representations and Warranties. All representations, warranties, and agreements mede by Grantor in this Mortgage shall
survive the ilxecution and Delivery of this Mortgage, shall be continuing in nature, and shall rilmain in iull iorce and affect until .sw:h time AS
Borrower's Indebtedness shall be paid in iull.
EXISTING INDEBTEDNESS. The iollowing provisions concerning Existing Indebtedness aril a part of this Mortgage:
ExIsting JJen. The lien of this Mortgage securing the IndebteDness may be 5econdary and inferior to an axisting lien. Grantor exprauly
covenants and agrees to pay, or see to the :payment of, the Existing Indebtedness and to prevent any .default on such indebtedness, any
Deiault under the instruments evidencing such indebtedness, or any Default under any security Documents ior such.indebtedness.
No Modification. Grantor shall not enter into any agreement with tha holder of any mortgage, Deed of ~ust, or other security agreement
which has priority over this Mortgage by which that agreement is modified, amended, extended, or renewed without the prior written
consent of .Lender. Grantor shall neither request nor accept any iuture Jldvancas under limy such security agraement wtthout the pdor
written consent of .Lender.
CONDEMNATION. "The following provisions rillating to condemnation proceedings are a part of this Mortgage:
Proceedings. If any proceeding in condemnation is filed, GrJlntor shall promptly notify .Lender in writing, and Gnmtor shall promptly Uke
such steps as may be necessary to Defend tha action and obtain the Jlward. Grantor may be the nominal party in .sw:h proceeding, .but
.Lender shall be antitled to participate in the proceeding and to be represented in the procaeding by counsel of its own choice, and Grantor
will Deliver or cause to be .delivered to .Lender such instruments and Documentation as may be requested by .Lender irom time to time to
permit such pJlrticipation.
Application of Net Proceeds. If all or any part of the Property is condemned by eminent Domain proceedings or by any proceeding or
purchase in lieu of condemnation, .lsnder may at its illection raquiril that Jill or any portion of the net proceeds of the award be applied to
the Indebtedness or the repair or restoration of the Proparty. The net procseds of the award shall mean the award after payment of all
reasonable costs, axpenses, and attorneys' fees incurred by.Lender in connection wtth the condemnation.
JMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAl AUTHORITJES. The following provisions relating to governmentel uxes.
1ees Bnd charges are a part of this Mortgage:
Current "Taxes, Fees and Charg... Upon request by .Lender, Grantor shall axecute such documents in atldition to this Mortgage and take
whatever other action is raquested by .Lender to perfect and continue .Lender's lien on the Real Property. Grantor shall reimburse .Lenderior
Blltaxes, as Described below, together with all ilxpenses incurred in recording, perfecting or continuing this Mortgage, including without
limitation all taxes, iees, Documentery stemps, and other charges ior recording or registering this Mortgage.
Taxes. "The iollowing 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 Indabtedness secured by this Mortgage; (2) B specific tax on Borrower which Borrower is authorized or rilquired to .deduct
irom payments on the Indebtedness secured by this type of Mortgage; (3)· a tax on this type of Mortgage chargeeble against the .Lender or
the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by
Borrower.
SubJiequent Taxes. If any tax to which this section applies is ilnacted subsequent to the date of this Mortgage, this 8vent shall have the
same effect BS an Event of Default, and .Lender may exercise any or BII of its available remedies ior an Event of Default AS provided below
unlass Grantor aither (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens
section and Deposits with .Lender cesh or a sufficient corporate surety bond or other security satisfactory to .lsnder.
BECURITY AGREEMENT; FtNANCING STATEMENTS. "The iollowing provisions relating to this Mortgage as a security agreement Bre a part of
this Mortgage:
Security AJlrtiment.. "This instrument shalll:onstitute a Security Agreement to the extent any of the Property constitutes iixtures, Bnd
under shall hallfl all of the rights of B secured party under the Uniform Commercial Code BS amended from time to time.
Security Jnterest. Upon request by .lsnder, Grantor shall take whatever action is requested by .Lender to perfect and continue .lsnder's
security interast in the Rents and Personal Property. In atldition to recording this Mortgage in the real property recorDs, Lender may, Jlt Bny
time and without iurther Jluthorization irom Grantor, iile executed counterpBrts, copies or reproductions of this Mortgage as a iinancing
statement. Grantor shall reimburse .Lender for all expenses incurred in :perfecting or continuing this security interest. Upon Default, Grantor
shall not rilmove, sever or Detach the Personal Property irom the Property. Upon DefBult, GrBntor shall assemble Bny Personal Property not
affixed to the Property in a manner Jlnd at a place reasonably convenient to Grantor Bnd Lender and make it availabla to .lsnder within thrile
(3) 111Iys Bfter receipt of written Demand irom .lsnder to the extent permitted by .applicable law.
Addresses. "The mailing Bddresses of Grantor (debtor) Bnd .Lender (secured PBrty) irom which information concerning the security interest
!Jranted by this Mortgage may be obtained (each as required by the Uniform Commerciel Code) are AS stated on the iirst page of this
Mortgage.
FURTHER ASSURANCES; ATTORNEY-tN-FACT. "The iollowing provisions relating to iurther assurances Bnd øttomey-in-fact are a part of this
Mortgage:
Further Aasurances. At any 1ime, and irom 1ime to time, .upon request of .lsnder, Grantor will make,execute and Deliver, or will cause to
be made, ilxeC1Jted or .delillflrad, to .lsnder or to .Lender's Designee, and when requested by .Lender, cause to be iilad, recorded, refiled, Of
rerecorded, BS the case may be, at such times and in such offices and places BS .lsnder may Deem appropriete, any lInd all such mortgages,
Lleeds of trust, security deeds, security agraements, iinancing statements, continuation statements, instruments of further assurance,
certificates, and other Documents BS may, in the sole opinion of .lsnder, be necessary or Desirable in order to ilffectuate, complate, perfect,
l:ontinue, or preserllfl (1) Borrower's and Grantor's obligations under the Note, this Mortgage, Bnd the Related Documents, and (2) the
liens Bnd security interests created by this Mortgage on the Property, whether T10W ownad or hareafter lIcquired by Grantor. Unlass
prohibited by Jawor .lsnder agrees to the contrary in writing, Grantor shall reimburse .lsnder ior BII l:Osts Bnd axpenses incurred in
connection wtth the matters rilferred to in this paragraph.
Auomey-In-F~t. If Grantor iails to DO lIny of the things referred to in the praceding paragraph, .Lender may do so for and in the Nlme of
Grantor and at GrBntor's axpense. For such purposes, Grantor harsby irrevocably .appoints .Lender as Grantor's attorney-in-iact 10r the
purpose of making, ilxecuting, .delillflring, filing, recording, lInd Doing BII other things as may be necessary or desirable, in .lsnder's sole
opinion, to accomplish the matters referred to in the preceding paragraph.
FUll PERFORMANCE. If Borrower pays 1111 the Indebtedness when due, Bod otherwise :performs Blithe obligations imposed upon Grllntor JJnder
this Mortgage, .lsnder shall execute Bnd deliver 10 GrBntor a suitable satisfaction of this Mortgage Bnd suitabla statements of termination of any
1inancing statement on iila avidencing .Lender's security interest in the Rents Bnd the Personal Property. Grantor will pay, if permitted by
Jlpplicable Jaw, Bny rsasonable tilrmination iee AS determined by .Lender irom time to time.
.EVENTS OFDEFAU1.T. Each of the iollowing, .at.lsndðr's option, shall constitute Bn.Ellflnt of Default under this Mortgage:
PJlyment Dtlfault. Borrower iails to make BnY payment when Due under the Indebtedness.
Default on Other Payments. Failura of Grantor wtthin the time required by this Mortgage to make lIny payment ior taxes or insurJlnce, or
Bny other payment necessBry to prevent 1iling of Dr to affect discharge of any lien.
Other Defaults. Borrower or Grantor iails to comply with or to :perform Bny Dther tarm, obligation, covenant or condition contained in this
Mortgage or in Bny of the fleJated Documants or to comply with or to :perform any tarm, obligation, covenant or condition containad in Jlny
other agr_ment between .lender lInd Borrower or Grllntor.
Fats. Smaments. Any warranty, reprasentation or statement made or iurnished to .Lender by Borrower or Grantor or on Borrower's or
GrBntor's behalf under this Mortgage or the Related Documents is 1alse or mislaatling in any materull raspect, aither now or .at tf1e time
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MORTGAGE
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madE!' or furnished or becomes falsE!' or misleading at any time thereafter.
Dttfectfv... Colllltenrlfzatlolf. This Mortgage. or any ot thE!' Related Documents ceases to bE!' ilf full forcE!' and effect (including failure ot any
collateral documelTt to crellte If valid and perfected security interest or lien) at any timE!' and for any reasorr.
DeatfT or Insolvency. ThE!' dissolutiorr or terminatiolf ot Horrower's or Grantor's existencE!' as a going business, the insolvency ot Horrower or
Grantor, thE!' appoil1tmeltt ot a receiver for any part ot Horrower's or Grantor'lr property, any alrsignmelTt for thE!' benefit ot creditors, any
tylJEf ot creditur workout, or thE!' commencement at any proceeding under any bankruptcy or inlrolvency laws by or against: Horrower or
Grantor.
Creditor or ForfeftunJ Proceedlnp. Commencement ot foreclo!rUre or forfeitum proceedings, whether by judicial proceeding, Irelt-help,
repolrlrelrlriolf or any other method, by any creditor ot Horrower or Grantor or by any governmental agency against: any property securing thEf
Indebtedness. This includeiS If garnishment ot any at Horrower's or Grantor's accounts, including deposit accounts, with Lender. However,
this EvelTt ot Default shall not apply if them is a good faith disput& by Horrower or Grantor 8i!J to thE!' validity or reasonableness ot the claim
which is thE!' basis ot thE!' creditor or forfeiturE!' proceeding and if Horrower or Grantor gives Lender written notice ot thE!' creditur or forfeitur&
proceeding and depositt with Lender monieiS or If surety bond for thE!' creditur or forfeiture proceeding, in an amount determined by lender,
irr its solE!' discretion, as being arr adequ!lt& reservE!' or bond for thE!' disput&.
ExIsting Indetmrdne... ThE!' payment ot any imrtalllTient ot principal or any interest orr thE!' Existing Indebtedness is not madE!' within thE!' timE!'
required by the promissory notIf evidencing such indebtedness, or a default occurs under thE!' InstrumelTt securing such indebtedness and iiS
not cured during any applicabllf gracE!' period irr such instrulTlelTt, or any suit or other actiorr is commenced to fomclosE!' any existing lien Olf
thE!' Property.
Breach of Other Agreement. Any breach by Horrower or Grantor under thE!' terms of any other agreement between Horrower or Grantor and
lender that iiS not r&medled within any graCE!' period provided therein, including without limitation any agreemelTt concerning any
indebtedness or other obligatiorr ot Horrower or Grantor to Lender, whether existing now or later.
EVenΠAffectllTlJ Guenmtor. Any ot thE!' preceding events occurs with respect to any Guarantor of any ot the Indebtedness or any
Guarantor dieiS or becomes incompetent, or revokes or disputes thE!' validity ot, or liability under, any Guaranty ot thE!' Indebtednlfss.
Adv_... Chanp. A material adverse changE!' occurs In Grantor's financial conditiorr, or Lender believes thE!' prospect ot paymlflTt or
performancE!' ot thlf IndE!'btedness is impaired.
Insecurity. Lender in good faith believes itself insecum.
RIGHTS AND REMEDIES ON DEFAULT. Uporr tl1& occurrence of arr Event at Default and at any time thereafter, lender, at Lender's optiorr, may
exercisE!' any onlf or mom of thlf following rights and remedilfs, in addition to any othE!'r rights or remedies provided by law:
AcceltmItIJ Indebtedn.... . Lender shall havE!' thlf right at itt OptiOIf without noticlf to Grantor to declar& the entir& Indebtedness immedilltely
duE!' and payable, including any prepaymelTt penalty which Grantor would bE!' required to pay.
UCC Remedlu. With respect to all or any part ot thE!' Personal Property, Lender shall havE!' all the rights and remedies ot a secured party
under thE!' Uniform Commercial Code.
Collect Rents. Lender shall havE!' thE!' right, without noticE!' to Horrower or Grantor, to taklf possession of the Property, including during thE!'
plfndency ot foreclosum, whether judicial or non-judicial, and collect: thlf Rents, including amounts past duE!' and unpaid, and apply thE!' net
proceedlr, over and abovE!' Lender'1r com, against: thE!' Indebtedness. In furtheranclf ot thilr right, lender may requlm any tenant or other
ulrer of thE!' Property to make payments ot relTt or UlrE!' fees directly to Lender. If thlf Rents are collected by lender, therr Grantor irrevocably
delrignatelr lender air Grantot'lr attorney-irr-fact to endorsE!' instruments received in payment thereot irr the namE!' of Grantor and to negotiat&
thE!' Iramlt and collect thlt proceeds. Payments by tenants or other users to lender ¡rr responsE!' to Lender's demand shall satisfy the
obligations for whiclT thE!' payments ar& madE!', wheth!fr or not any propEJr grounds for the demand existed. Lender may exercisE!' itt rights
under this subparagraph either irr person, by agelTt, or through a receiver.
Appoint- Receiver. Lender shall have thlt right to havE!' It receiver appointed to taklt possession ot all or any part ot thE!' Property, with the
power to protect and preservE!' thE!' Property, to OpEJrate thlt Property preceding foreclosum or Irallt, and to collect the Rents from thE!'
Property ·lInd apply thlt proceeds, over and abovE!' thE!' cost ot the receivership, against the Indebtednen. The receiver may servE!' without:
bond it permitted by law. Lender's right to thE!' appointmelTt ot a receiver shall exist whether or n!IT the apparent valuE!' ot thE!' PropEJrty
Itxceeds thlt Indebtedness by a substantial amount. Employment by Lender shall not disqualify a perlron from Irerving as a receiver.
Judicial Foreclosure. Lender may obtain a judicial decreE!' foreclosing Grantor's interest in all or any part ot the Property.
Nonjudicial Salff. lender may foreclose Grantor's interest in all or irr any part ofthlt Property by norr-judicial salE!', and specifically by "power
ot sale" or "advertisemelTt and salE!'" foreclosurE!' as provided by statute.
Dtrffclenc:y JudgmelTt. If pltrmitted by applicablE!' law, lender may obtain a judgmelTt for any deficiency remaining irr thE!' Indebtedmfss duE!'
to Lender after applicatiorr ot all amounts received from thE!' exercise ot thE!' rights provided in this section.
Tenancy lit Sufferance. If Grantor remains ¡rr possession ot the Property after the PropEJrty is sold as provided above or Lender otherwisE!'
becomes entitled to possession ot thE!' Property uporr default of Grantor, Grantor shall becomlt a tenalTt at sufferance ot lender or thEf
purchaser ot thE!' Property and shall, at Lender's optiorr, either (1) pay & reasonable rental for thEf use ot thE!' Property, or (2) vacllte the
Property immediately uporr thE!' demand ot Lender.
Other Remedies. Lender shall. havE!' all other rights and remedielr provided in this Mortgage or thE!' NotE!' or availablE!' at law or irr equity.
Sele of thff Property. To thlt extelTt permitted by applicable law, Horrower and Grantor hereby waivE!' any and all right to havlt the Property
marshalled. In exercising itt rights and remedies, Lender shall be freE!' to sell all or any part ot thlt Property together or separately, in Omf
salE!' or by separ!lt& salelr. Lender shall bE!' entitled to bid at any public Irale orr all or any portion of thlt Property. '
Netlcff ot Salff. lender shall giVE!' Grantor reasonabllt notice of thlt time and place of any public sa lit of thE!' Personal Property or ot thE!' timE!'
after which any private salE!' or other intended disposition ot thE!' Personal Property is to bit made. ReasonablE!' noticE!' shall mearr noticE!'
given at least ten (10) days befonJ thlt timlt of thE!' salE!' or dispolrition. Any salE!' of thE!' Personal Property may be madE!' irr conjunctiorr witlT
any salE!' of thE!' Real Property.
Becttolf at Remedies. Section by lender to pur!rU1t any remedy shall not exclude pursuit ot any other remedy, and arr election to makE!'
expenditures or to takE!' actiorr to perform an obligatiorr ot Grantor under this MortgagE!', after Grantor'lr failure to perform, shall not affect
Lender's right to declanJ a default and exercislt in remedielr. Nothing under this MortgagEf or otherwise shall bit construed so air to limit or
restrict thE!' rights and remedies available to lender following an Event of Default, or in any way to limit or restrict thE!' rights and ability ot
lender to proceed directly against Grantor andlor Horrower IIndlor against any other co-maker, guarantor, surety or endorser andlor to
proceed against any other collateral directly or indirectly securing thlt Indebtedness.
Attorneys' Fees; Expenses. If Lender institutes any suit or IIction to enforce IIrry of thE!' terms ot this Mortgagll, Lender shall bit entitled to
recover such sum as the court may IIdjudge reasonabllt as attorneys' fees at trial and uporr any appeal. WhE!'ther or not any court actiorr is
involved, and to the extent not prohibited by law, all reesonable eXpEJnses Lender incurlr that in lender's opiniorr are necessary at any time
for the protection of i1$ interest or the enforcement ot itt rights shall become a part ot thlt Indebtedness payabllt on demand and shall bear
interest at the Note rate from the date of the expenditure until repaid. Expenlres covered by this paragraph include, without limitatiorr,
however subject to any limits under applicable law, lender's reasonable attorneYlr' fees and Lender's legal Itxpenses whether or not them is
If lawsuit, including reasonabllt attorneys' fees and expenses far bankruptcy proceedings (including efforts to modify or vacate any
automatic stay or injunction), appeallr, and any anticipated POlrt-judgment collection services, thE!' cast ot searching records, obtaining titlE!'
reports (including foreclosure reports), surveyors' reports, and appraisal fees and title in!rUranclt, to thE!' extent permitted by applicablE!' law.
Grantor allro will pay any court costs, in additiorr to all other Irums provided by law.
NOTICES. Any notice required to bit given under this Mortgage, including without limitation any noticlt ot default and any notice of sallt shall bE!'
given in writing, and shall bit effective when actually delivered, when actually received by telefacsimilE!' (unless otherwilrE!' required by law), wherr
deposited with a nationally recognized overnight courier, or, if mailed, wherr deposited in the United States mail, air first class, certified or
registered mail postagE!' prepaid, directed to thlt addresses shown near the beginning of this Mortgage. All copies ot noticelr ot foreclosurlt from
thE!' holder of any lien whiclT has priority over this Mortgage shall bE!' sent to Lender's addreslr, as shown near the beginning of this MortgagE!'.
Any party may changE!' its address for notices under this Mortgage by giving formal written notice to the other parties, specifying that the
purpOSIt ot tlm notice is to changE!' thE!' party's address. For notice purposelr, Grantor agrees to keep lender informed at all times of Grantor's
current address. Unless otherwise provided or required by law, if thlmf is more tharr one Grantor, any notice given by lender to any Grantor iiS
deemed to be notice giverr to all Grantors.
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MISCElLANEOUS PROVISIONS. ìhe following miscellaneous provisions are B part of ~is Mortgage:
Amendments. ìhis Mortgage. lOgether with Bny Related Documents. constitutes 1he tintire understanding Bnd agreement of the PJlrties.as
to the matters set forth in this Mortgage. No alteration of or amendment to ~is 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 Bmendment.
Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request, e
certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form Bnd detail .as
l.ender shall require. "Net operating income" shall mean BII cash rtiCeipts from ~e Property less all cash,tixpenditures made in connection
with the operation of ~tiI Property.
£aptlon Hading.. Caption headings in this Mortgage Jlre for convenience purposes only and Bre not to be used to interprtit or Define the
provisions of this Mortgage.
-
Governing uw. ìhia Mortgage will be governed by feder.1 Jaw ·appllcabie to .lender .nd, to the extent not preempted by federal Jaw. the
Jaws of the State of Wyoming without regard 10 its conflicts lIf Jaw provisions. Thia Mortgage has been 1ICCepted by .lender in the State lIf
Wyoming.
.Iolnt and Sever.1 J..1abWty. All obligations of Borrow.r and Grantor under this Mortgage shall be joint and severBl, Bnd BII referenctis 10
Grantor .shall mean tiach Jlnd every Grantor, and all referel1Ctls to Borrower shall mean tiach and tivery Borrower. This means that üch
Borrower and Grantor signing below is rtiSponsible for all obligations in this Mortgage.
No Waiver by .lender. .lender shall not be deemed to have wBived Bny rights under this Mortgage .unless such w<liver is given in writing
Jmd signed by l.ender. No Delay or omission on the part of l.ender in exercising any right shall operBta .as B waiver of such right or any
other right. A wBiver by .Lender of a provision of this Mortgage shall not prej.udice or constitute a waiver of Lender's right otherwise to
Demand strict compliancil with that provision or any other provision of this Mortgage. No prior waiver byl.ender, nor any course of dealing
between lender Jlnd Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future
trJlnsactions. Whenever the consent of lender is required under this Mortgage. the granting of such consent by Lender in any instancti
shall not constitute continuing consent to subsequent instances where such consent is rtiquired and in JIll cases such cOnsent may be
granted or withheld in 1he sola discretion of Lender.
Severability. If B court of competent jurisdiction finds any provision of this Mortgage to be illegal, invalid. or unenforceable JlS to any person
or circumstancil, that finding shall not make the offending provision illegal, invalid. or unenforceable as to any other person or
circumstance. If fflJilsible, ~e offending prDvision shall be considered modified so that it becomes legal, valid and enforceable. If 1he
offending provision cannot be so modified, it shall be considertid deleted from this Mortgage. Unless otherwise required by law, 1he
illegality, invalidity. or unenforceability of any provision of this Mortgage shall not affect the legality. vBlidity or ilnforceability of any other
provision ofthis Mortgage.
Merger. ìhere shall be no merger of the interest or estate created by this Mortgage with any other interest or sstate in the Property at any
time held by oriorthe benefit of Lender in any capacity, without1he written consent of Lender.
Successors.nd Assigns. Subject to any limitations stated in ~is Mortgage on transfer of Grantor's interest. this Mortgage shall be binding
.upon and inure to the benefit of the parties. their successors and .assigns. If ownership of 1he Property becomes vested in a person other
than Grantor. Lender, without notice to Grantor, may deal with Grantor's Succtissors with reference to this Mortgage and 1he Indebtedness
by way of forbearance or extension without rtileasing Grantor from 1he obligations of this Mortgage or liability .under the Indebtedness.
ìlme is lIf the Euence. ìime is of the tiasenc. In the performance of this Mortgage.
W.lver of Homestead Exemption. Grantor herftby releases and waives all rights and benefits of the homestead exemption laws of 1he State
of Wyoming as to Blllndebtedness securild by this Mortgage.
DEFJNITIONS. ìhe following capitalized words and terms shall have the following meanings when used in this Mortgage. Unless specifically
stated to the contrary, Jill references to Dollar Bmounts shall mean <lmounts in lawful money of the United States of AmerÍCB, Words Bnd terms
.used in the singular shall include the plural, and the plural shall include 1he singular, as the context may require. Words and tarms not otherwise
defined in this Mortgage shall have the meanings attributed to such terms in the Uniform Commercial Code:
Borro_r. ìhe word "Borrower" means COUNTRY CRAFTSMEN ENTERPRISES, INC and includes all co-signers Jlnd co-makers signing 1he
Note and all1heir succtiSSors Bnd .assigns.
Demuit. ìhe word "DefJWit" means the DefJWIt set forth in ~is Mortgage in 1he section titled "Default".
1:nvironmentaluws. ìhe words "Environmental1.aws" mean any and all 5tate. federal and local statutes, regulations and ordinances
filiating to the protection of human health or 1he tinvironment. including without limitation the Comprehensive Environmentel Response.
Compensation, and Liability Act of 1980. as Jlmended, 42 U.S.C. Section 9601. et seq. ("CERClA"1. the Superfund Amendments Jînd
Reauthorization Act of 1986, Pub.!.. No. 99-499 ("SARA"', the tfazardous Materials Transportation Act. 49 U.s.C. Section 1801. ilt seq.,
~e Resource Conservation and Recovery Act. 4.2 U.S.C. Section 6901. ilt seq.. or other applicable stete or federal laws. rules, .or
rtigulations adoptild pursuant therilto.
Event of Demuit. "The words "Event of Default" mean Bny of the ilvents of defJWIt set forth in this Mortgage in 1he ilvents of defJWIt
.sectionof~is Mortgage.
Existing Jndebtednus. The words "Existing Indebtedness" mean the indebtedness described in 1he Existing Dens provision of ~is
Mortgage.
Grantor. ìhe word "Grantor" means ClARK 1. MOSIER Bnd NANCY A MOSIER.
Guarantor. ìhe word "Guarantor" means any guarantor. surety, or accommodation party of Jlny or BII of the Indebtedness.
Guaranty. ìhe word "Guaranty" means 1he guaranty from Guarantor 10 Lender, including without limitation B guaranty of all or PJlrt of the
Note .
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 :prilsent or potential hazard to human health or ~e environment when
improperly used. treated, stortid. disposed of, generated. manufactured. transported or otherwise handled. ìhe words "tiazardo.us
Substances" Bril used in 1heir very broadest sense and include without limitation any and all hazardous or toxic substances, materials or
waste .as defined by or listed !Jnder 1he Environmental1.aws. The term "Hazardous Substances" also includes. without limitation. petroleum
and petroleum by-products or Jlny fraction thereof <lnd asbestos.
Jmprovementa. ìhe word "Improvements" means all existing and future improvements. buildings, structures. mobile homes Jlffixed on 1he
Real Property. facilities. .additions, replactiments and other constr.uction on1he Real Property.
Jndebtadneu. ìhe word "Indebtedness" means BII principal. intertist. and other amounts. costs and expenses payable .under the Note or
Related Documents. together with all rilnewals of, tixtensions of, modifications of. consolidations of and substitutions for the Note or
Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by .lender 10
Bnforce GrJlntor's .obligations under this Mortgage, together with interest on such Jlmounts as provided in this Mortgage. Specifically,
without limitation. Indabtedness includes Jill Bmounts that may be indirectly secured by the Cross-CollaterJllization provision of this
Mortgage.
under. The word "Lender" means ìhe Converse County Bank, its successors and .assigns.
Mo~g.. ìhe word "Mortgage" means ~is Mortgage between Grantor Bnd Lender.
Nota. ìhe word "Note" means the promissory note dated December B, .2005. in 1I1e original principal amount of $111,928.12
from Borrower to Lender. together with all renewals of. tixtensions of. modifications of. refinancings of, consolidations of. Bnd substitutions
for ~e promissory note .or Bgreement.
Farsonel Prllptlfty. The w.ords "f!ersonal Property" mflJiln BII ilquipment. fixtures. and other Jlrticles of personel property now or hereafter
owned by Grantor. Bnd now or hereafter attached or affixed to the Real Proparty; together with BII accessions. parts. Bnd Bdditions to. all
replacements of. Bnd Jill substitutions for, Jlny of such property; Bnd together with BII proc~ds (including without limitation Jill insurance
proc~ds Bnd refunds of prtimiums) fromJlny sale or other âisposition of the Property.
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MORTGAGE
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~roperty. Th& word "Property" means collectively ttm Real Property and th& Personal Property.
RnI Property. The words "Real Property" mean th& real property, interests and rights, as further described in this Mortgage.
Relllted Docurmmtlr. The words "Related Documents" mean all promissory notes, credit agreemermr, loarr agreementt, environmental
agreements, guaranttes, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments,
agreements and documents, whether now or hereafter existing, executed irr connectiorr with th& Indebtedness.
Rem.. Th& word "Rents" means all present and future rents, revenues, income, issues, royalties, profitt, and other benefmJ derived from
the Property.
EACH GRANTOR ACKNOWlEDGES HAVING. REAa ALL THE PROVISIONS OF THIS MORTGAGE. ANa EACH GRANTOR AGREe[ TO ITIr
TSmWS. .
GRANTOR:
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INDIVIDUAL ACKNOWLEDGMENT
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TRESSIE AUSTIN NOTARY PUBLIC
COUNTY OF . STATE OF
CONVERSE WYOMING
MY COMMISSION EXPIRES JUNE 21, 2009
Orr this day befu~ mlf, the undersigned Notary Public, personally appeared CLARK L MOSIER and NANCY A MOSIER, ttJ me knowrr ttJ b& thlf
individuals described irr and wh(J executed the Mortgage, and acknowledged that they signed th& Mortgag&as their fretJ and voluntary act and
deed, fur th& uses and purposes thereirr mentio h (\^ /)YY\ ,^/lr A c::::.
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