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HomeMy WebLinkAbout915055 "t ." RECORDATION REQUESTED BY: The Conver.e County Bank PO Drawer 689 322 Walnut Douglas, WY 82633 C00186 WHEN RECORDED MAll TO: The Conver.e County Bank PO Drawer 689 322 Walnut Douglas, WY 82633 RECEIVED 1/9/2006 at 11 :36 AM RECEIVING # 915055 BOOK 609 . PAGE: 186 JEANNE WAGNER LINCOLN COUNTY CLE -- _ RK, KEMMERER, Wi SEND TAX NOTICES TO: GUST A V£ .LINDBLOM .LYNN .LINDBLOM PO BOX 513 THA YNE, WY 83127 SPACE ABOVE THIS UNE IS FOR RECORDER'S USE DNlY :\1 \ MORTGAGE THIS MORTGAGE dated December 8,2005, is made Jlnd .xecuted between GUSTAVE .LINDBLOM Jlnd .LYNN lJNDBLOM, HUSBANO AND WIFE, whO$e Jlddreas is PO BOX 513, THAYNE, WY 83127 (referred to below JlS "Grantor") Jlnd The Converse C01,lnty Bank, whose Jlddrsss is PO Drawer 689, 322 Walnut, Douglas, WY 82633 (referred to below JlS ".Lender"). GRANT OF MORTGAGE. for valuable !:onslderation, Grantor mo~g8S and !:onveys 10 lAnder all of Grantor's right, title, and interest in and 10 -me following described real property, 10gether with all existing or subsequently erected or affixed buildings, improvements and fixtures; Jill easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in lItilities with ditch or irrigation rightsl; lInd lIlI other rights, royalties, Jlnd profits relatinQ to the real property, including without limitation lIlI minerJlls, oil, gas, geothermal and similar matters, (the "Real Property") Jocated In .LINCOLN County, State of Wyoming: .Lot 5 of Coyote Hills Subdivision, lincoln County, Wyoming as described on the official plat filed August 18, 2001 in the office of the lincoln County Clerk JlS Jnstrument No, 875323 The Real Property or its Jlddress is commonly known JlS 55 BOBCAT DRIVE, BEDFORD, WY 83112. CROSS-C01.lAT£RAUZATION. In addition to 1he Note, this Mortgage secures all obligations, dabts and liabilities. plus interest thereon, Df Borrower 10 .lender, or anyone or more of them, JlS well as all claims by .lender against Borrower or anyone or more of 1hem, whether now existing or hereafter arising, whether related or Álnrelated to 1he purpose of 1he Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or lIndetermined, absolute or contingent, liquidated or Álnliquidated whether Borrower or Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery lIpon such amounts milY be or hereafter may become barred by any statute of limitations, and whether the obligation 10 repay such amounts may be or herilafter may become otherwise unenforceable. If -me .lender is reqLIired to give notice of the right to cancel Álnder Truth in .lending in connection with Jlny additional pans, ilxtensions of credit lInd other liabilities or obligations of Grantor to .lender. then this Mortgage shall not secllre additional loans or obligations unless and 1Jf1til such notice is given. Grantor presently lISsigns "to .lender all of Grantor's right, title, and interest in and to all present Bnd future leases of the Property and all Hents 1rom the Property. In addition, Grantor grants to .lender a Uniform Commercial Code .security interest in the Personal Property and Hents. "THIS MORTGAGE. INCWDING THE ASSIGNMENT OF RENTS AND THE SECURITY JNTEREST IN THE RENTS AND P£RSONAl PROP£RTY, JS GIV£N TO 5£CURE IAI PAYMENT OF THE IND£BT£DNESS AND 181 P£RFORMANC£ OF ANY AND AU OBlIGATJONS UND£R THE NOTE, "THE RElAT£D DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE JS GIV£N AND ACC£PT£D ON THE FOllOWING T£RMS: GRANTOR'S WAIV£RS. Grantor wllives all rights or defenses arising by reason of any 'one action" or "anti-deficiency" law, or any other law which may prevent .lender from bringing any Betion Jlgainst Grantor, including a claim for deficiency 10 the extent .lender is otherwise entitled to JI claim for deficiency, before or after .lender's commencement or completion of any foreclosure Jlction, either judicially or by exercise of JI power of sale. ßRANTOR'S BEPRESENTATIONS AND WARRANTJES. Grllntor warrants~: lal"this Mortgage is .executed at Borrower's request Jlnd not Jlt ~ request of .Lender; (bl Grantor has the full power, right, and authority 10 enter into this Mortgage and to hypothecate the Property; Ic) 1he provisions of -mis Mortgage do not conflict with, or result in a default Álnder any agreement or other instrument binding 1.Ipon Grllntor and do not result in a violation of Jlny law, regulation, court nacree or order applicable to Grantor; (dl Grantor has established 11dequate means of obtaining irom Borrower on II continuing basis information abollt Borrower's financial condition; Jlnd (el.Lender has made no representation 10 Grantor JIbollt Borrower (including withollt limitation the J:reditworthiness of Borrowerl. PAYMENT AND PERFORMANC£. Except JlS otherwise provided in -mis Mortgage, Borrower shall pay 10 .Lender all Indebtedness secured by this Mortgage lIS it becomes due, Bnd Borrower and Grantor shall strictly perform lIlI Borrower's Jlnd Grllntor's obligations lInder this Mortgage. POSSESSION AND MAINT£NANC£ OF THE PROP.ERTY. Borrower Jlnd Grantor Jlgr.ee "that Borrower's and Grantor's possession Bnd !JSe of ~ Property shall be governed by the following provisions: Posaeulon and Use. Until1he occllrrence of an Event of Default, Grantor may 111 r.emain in possession Bnd control of 1he Property; (2) JJse, opeUlte or manage the Property; lInd (31 !:ollect 1he Hents from 1he Property. D!Ity 10 Maintain. Grantor shall maintain 1he Property in tenantable conditionJlnd promptly perform all repairs, replacemants. Jlnd maintenance necessary 10 preserve its value. CompÐanca With Envlronmentall.aws. Grantor represents and warrants 10 .lender 1hat: 111 During -me period of Grllntor's ownership of -me Property, there has been no Álse, generation, manufacture, .storage, trutment, disposal, release Dr thrutened release of any tlazard01.lS Substance by any person on, Álnder, abollt or from 1he Property; 121 Grantor has no knowledge of, or reason "to believe "that ..nere has been, ilXCilpt lIS previoJJSly disclosed 1:0 and acknowledged by .Lender in writing, lal any breach or violation of any £nvironmentall.aws, (bl JlnY!JSe, generation, manufacture, storage, 1:reatment, dispOSlll, release or threatened release of any Hazardous Substance Dn, Álnder, Jlbout or 1rom the Property by Jlny prior owners or occupants of the Property, or . (cl any actual or thrntened litigation or claims· of any kind by Jlny person relating 10 such matters; Jlnd 131 Except lIS previously disclosed 10 and acknowledged by .lender in writing, lal neither GrBntor nor any 1:enant, contractor, agent Dr other lI1Ithorized !JSer Df the Property shall Álse, generate, manufacture, store, "treat, dispose of Dr release .Bny tlazardous S1Jbstance on, Álnder, Jlbout or 1rom 1he Property; Jlnd (b) any such activity shall be conducted in compliance with all applicable federal, state, and local Jaws, regulations and ordinances, including without limitation all £nvironmentall.aws. Grantor JlUthorizes .Lender Bnd its agents 10 enter 1.Ipon the Property to make such inspections Jlnd "tests, at Grantor's expense, as .lender may deem Jlppropriate1:O determine compliance of 1he Property with this section of the Mortgage. Any inspections or tests made by .Lender shall be for .Lender's purposes only and shall not be J:onstwed 10 create Bny responsibility or üability Dn 1:he part of .lender to Grantor or 10 Jlny Dther person. .he representations and warranties !:ontained her.ein are based on Grantor's due .diligence in investigating 1he Property 10r Hazard01.lS Substances. Grantor heraby (1) releases Jlnd waives lIny future claims Jlgainst .Lender for indemnity or J:ontribution in :the event Grantor .becomes liable for cleanup Dr other costs Álnder Bny such laws; Jlnd 121 agrees 10 indemnify lInd hold harmless .lender Jlgainst Bny Jlnd BII claims, losses, liabilities,damages, penalties, Jlnd expenses which .lender may .directly or indirectly austain Dr .suffer rilsulting 1rom II bre.ach of this section of 1he Mortgage or.as a consequence of Bny JJSe, generBtion, manufBcture, storllge, .disposal,release Dr threatened release occurring prior 10 Grantor's ownership Dr interest in the Property, whether or not -me same was or should heve.been known 10 Grantor. "The provisions Df -mis section of 1he Mortgage, including 1he obligation 10 indemnify, shall survive the payment of 1he Indebtedness and the satisfaction and reconveyance of1he lien of this Mortgage lInd shall not be lIffected by .lender's acquisition of Jlny interest in "the Property, whether by foreclosure or otherwise. N1Iisanca, Wute. Grantor shall not cause, !:onduct or permit Bny nuisance nor commit,permit, or .suffer Bny stripping of or WlISte on or1o "the Property or Jlny portion of 1he Property. Withollt Iimitin91he generality of 1he foregoing, Grllntor will not remove, or grllnt 10 any other party -me right 10 remove, any 1:imber, minerals (including DiI Bnd gas), J:oal, clay, scoria, soil, gravel Dr rock products without .lender's prior ~~!:!*::¡:::::i::::;:1 ~:~~:': :':f~: ~.~' '-:"n,s. r- "y___ _ ~ :.:? ..::J MORTGAGE (Continued) 00(1"87 \., ,,! .l ~, Pag& L written corrserTt. Removal of Improvernentw. Grantor shall not demolish or remov& any Improvemermr from the Reel Property without Lender's prior writtert consent. A!!1 a condition to th& removal of any Improvemermr, Lender may require- Grantor to meke arrangemermr sati!!1factory to Lender to replace such Improvemermr with Improvemermrof at least equal value. Lender'lr Right to Eirtar. Lender and Lender's agermr and representatives may enter upon the Real Property at all reasonabl& times to attend to Lender'!!1 interestt and to inspect the Real Property for purposes ot Grantor's complianc& with th& terms and conditions of this Mortgage. Complfance wltfT Governmental Requlrementlr. Grantor shall promptly comply with all lawlr, ordinance!!1, and regulatiorrs, now or hereafter In effect, ot all governmental authorities applicable to th& use or occupancy of the Property, including without limitation, th& Americarrs With Disabilitielr Act. Grantor may contest in goad faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeallr, sa long u Grantor hu notified Lender in writing prior to doing sa and sa long as, in Lender'1r sole opinion, Lender's Interests in the Property are- not jeopardized. Lender may require- Grantor to past adequatŒ security or II surety band, reasonably satisfactory to Lender, to protect Lender'!!1 interest. Duty to PI'OtIIct. Grantor agreelt neither to abandon or leav& unattended th&' Property. Grantor shall do all other act5, in addition to thoS& act5 set forth above In thilr section, which from th& character and U!!1& of th& Property are- reesonably necessary to protect and preserv& th& Property . TAXES AND UENS. The following provisionlr relating to th& taxelr and lierrs on tha Property ara part ot this Mortgage: Payment. Grantor shall pay when due land in all events prior to delinquency) all taxelr, payroll taxelr, special taxelr, assessmermr, water charges and sewer servlc& èharge!!1levied against or on accourTt of the Property, and shall pay when due all claim!!1 for work donII' on or for servicelr rendered or material furnished to the Property. Grantor shall maintain th& Property frea of any liens having priority over or equal to tha interest of Lender under thi!!1 Mortgage, except for th& Existing Indebtedneslr referred to in thi!!1. Mortgage or thos& lierrs specifically agreed to in writing by Lender, and except for the lien ot taxelr and a!!1se!!1smermr not dua u further specified in th& Right to Contert paragraph. Right ta Contest. Grantor may withhold paymerTt of any tax, asseesmerTt, or claim in connection with II good faith dispute over th& obligation to pay, so long u Lender's interest in th& Property Is not jeopardized. If a lien arises or ¡Ir filed as II result of nonpayment, Grantor shall within fifteen IT 51 daYIr after tha lien ari!!1elr or, if a lien is filed, within fifteen 1151 days after Grantor hn notice ot th& filing. secure thl!' discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficlerTt corporata suraty bond or other security sati!!1factory to Lender in an amourTt sufficierTt to discharge th& lien plu!!1 any costt and reesonable attorneys' fee!!1, or other charges that could accrue as a result of a foreclosure- or sala under th& lien. In any conte!!1t. Grantor shall defend itself and Lender and shall satisfy any advenre judgmerTt befora enforcemerTt against the Property. Grantor shall naml!' Lender a!!1 an additional oblige&' under any suraty bond furnished in tha contest proceedinglr. Evldenclt of PaymerTt. Grantor shall upon demand furnish to Lender sati!!1factory evidenc&' of paymerTt of the taxe!!1 Or assessments and shall authorize the appropriate· governmental official to deliver to Lender at any time a written. statemerTt of th& taxelr and assessment5 8qainrt the Property. Notice of Construction. Grantor shall notify Lender at least fifteen (151 daYIr before any work i!!1 commenced. any servicelr are furnished, or any materials are supplied to tha Property, if any mechanic'!!1 lien, materialmen'!!1 lien. or other lien could ba asserted on accourTt of th& work, service!!1, or materiallr. Grantor will upon requert ot Lender furnish to Lender advance assurancelr satisfactory to Lender that Grantor can and will pay th&' cort of such improvement5. PROPERTY DAMAGE INSURANCE. Tña following provisionlt relating to insuring the Property are a part of thi!!1 Mortgage: Maintenance of Insunmclt. Grantor shall procura and maintain policies of fira insurancl!' with standard extended coverage endonrement5 on a replacement basilr for the full insurable value covering all Improvements on the Real Property in an amourTt sufficierTt to avoid application of eny coinsurance clause. and with a standard mortgagee clause in favor of Lender. Grantor shall alsO' procure and maintain comprehensive general liability insurance in such coverage amount5 u Lender may request with Lender being named air additional insuredlr in such liability insuranc& policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, busineu: interruption and boiler insurance air Lender may requira. Policielr shall b& written by such irrsurance companielr and in such form as may be reasonably acceptable- to Lender. Grantor shall deliver to Lender certificates of coverage from each insurer containing a stipulation that coveraga will not be cancelled or diminished without a minimum of ten (101 days' prior written notic&' 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 thst coverage in favor of Lender will not b& impaired in any way by eny act, omission or default of Grantor or any other penron. Should the Reel Property be located in an area designated by the Director of the Federal Emergency ManagemerTt Agency as a special flood hazard areð. Grantor agree!!1 to obtain and maintain Federal Rood Irrsurance-, if available, within 4õ days after notice is given by Lender that the Property is located in a special flood hazard area, for the- full unpaid principal balanc& of th&' loan and any prior liens on tha property securing th& loan, up to the maximum policy limits set under th& National Rood Insuranc& Program, or a!!1 otherwise required by Lender, and to maintain such insurance for the term ofth& loan. Application of Proceeds. Grantor shall promptly notify Lender ot any loss or damag& to the Property. Lender may make proof of loslr if Grantor fails to do so within fifteen (151 days ot the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's election, receiv& and retain the proceeds of any insuranc& and apply the proceeds to the reduction of the- Indebtedness, paymerTt of any lielT affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the- proceedlr to restoration and repair, Grantor shall repair or replace the damaged or destroyed Improvement5 in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure. pay or reimbursl!' Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default under this Mortgage. Any proceeds which have not been disbursed within 180 days after th&ir receipt and which Lender ha!!1 not committed to the repair or restoration of th&' Property shall be- used first to pay any amourTt owing to Lender under thi!!1 Mortgag&, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balancEI' of the-Indebtedness. If Lender holdlr any proceeds after payment in full of the Indebtedneu, suclT proceed!!1 shall be paid to Grantor as Grantor'!!1 interests may appear. Compliance with Existing Indebtedneu. During the period in which any Existing Indebtedness described below is in effect, complianc& with the' insuranc& provisiorrs contained in tha instrumerTt evidencing such Existing Indebtedness shall constitute compliance' with the insuranc& provisions under this Mortgage, to the exterTt compliance with the terms of this Mortgage would constitute a duplication at insurance' requirement. If any proceeds from th& insurance become payable on loss, th& provisions in thilr Mortgaga for division of proceeds shall apply only to that portion of the' proceed!!1 not payable to the holder of the Existing Indebtedness. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender'lr interest in the Property or if Grantor fails to comply with any provision of this Mortgage or any Related Document5, including but not limited to Grantor's failure to comply with any obligation to maintain Existing Indebtedness in goad standing u required below, or to discharge or pay when due any amount5 Grantor i!!1 required to discharge or pay under thi!!1 MortgagEl' or any Related Documents, Lender on Grantor's behalf may Ibut shall not be obligated tol take- any action that Lender deem!!1 appropriate, including but not limited to discharging or paying all taxelr, lien!!1, security Interests, encumbrancelf and other claims, at any time 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 purposelr will then bear interest at the rate charged under th& Nom from th& date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will becom& a part of the Indebtedness and, at Lender'!!1 option, will (AI be payabl& on demand; (B) be added to the balanca of the Note and be apportioned among and be payable with any installmerTt payments to beconm due during either (11 the term of any applicabfe insurance- policy; or (21 the remaining term ot the Not&; or ICI be treated alf If balloon paymerTt which will be- due and payabl& at th& Nom's maturity. The Mortgage- also will secure payment ot thes&' amOUnt5' Such right Shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY; DEFENSE OF'TTTtE. The following provisions relating to ownenrhip of the Property are a part of this Mortgage: TItle-. Grantor warrant5 that (al Grantor holdlr good and marketable title of record to the Property in fee simpl&" free and clear ot all lienlr and encumbrances other than thos&' set forth in the Real Property description or in the Existing Indebtedne!!1s section below or in any titla insuranc& policy, title report; or final titI& opinion issued in favor of, and accepted by, Lender in connection with this Mortgage, and (bl Grantor has the' full right, power, and authority to execum and deiiver this Mortgage to Lender. Defense of TItle. Subject to the exception in the paragraph above, Grantor warrant5 and will forever defend the titla to the Property against the lawful claims of all penrons. In th& event any action or proceeding is commenced that questiorrs Grantor's title or the interest ot Lender under thi!!1 Mortgage, Grantor shall defend th& action at Grantor's expense. Grantor may be the nominal party in such proceeding, but Lender shall be entitled to participllt& in thEl' proceeding and to be represented in tIT& proceeding by counsel of Lender's own choic&, and Grantor will deliver, or cause to be delivered, to Lender such instrumermr as Lender may request from tinm to time to permit such ~~~::::::¡::~>:;; f~~:!~;i:~;:;:.::;; {l~-:<-SO,SS MORTGAGE (Continued) nn,t88 '~.l . L~ _t PBjJ8 3 participation. Comp6ance With uws. Grantor warrants that 1he Property and Grantor's 1JSe of 1he Property complies with all existing applicable taws, ordinances, and regulations of governmental authorities. Survival Df Representations and Warranties. All representations, warranties, and agreements made by Grantor in 1his Mortgage shall survive 1he execution and delivery of this Mortgage, shall be continuing in nature, and shall remain in full force lInd effect until such time JlS Borrower's Indebtedness shall be paid in full. EXlSTJNGJNDEBTEDNESS. The following provisions concerning Existing Indabtedness lire a part of this Mortgage: Existing u.n. The lien of 1his Mortgage securing the Indebtedness may be aecondary and inferior to an existing lien. Grantor expressly covenants and agrees to pay, or aee to the payment of, the Existing Indebtedneas and to prevent any default on auch indebtedness, any default under the instruments evidencing auch indebtedness, or any default under any 5ecurity documents for auch indebtedneas. No Modification. Grantor ahall not enter into any agreement with 1he holder Df Jmy mortgage, deed of tr1JSt, or other aecurity agr_ment which has priority over tms Mortgage by which that agreement is modified, amended, extended, or renewed without the prior written consent of lender. Grantor shall neither request nor accept any future .advances under any such security agreement without the prior written consent of .lender. 1:0NDEMNATJON. The following provisions relating to condemnation proceedings are a part of this Mortgage: Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify .lender in writing, and Grantor shall promptly uke such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding, but .lender snail be entitled to participate in the proceeding and to be represented in the proceeding 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 from time to time to permit such participation. Appbtion of Net Proceeds. If all or any part of the Property is condemned by flminent domain proceedings or by any proceeding or purchase in lieu of condemnation, .lender may at its election require that all or any portion of the net proceeds of 1he award be applied to the Indebtedness or 1he repair or restoration of the Property. The net proceeds of the award shall mean 1he award lifter payment of all reasonable costs, expenses, and attorneys' fees incurred by .lender in connection with the condemnation. JMPOSfTJON OF TAXES, f'E£S AND CHARGES BY GOVERNMENTAl AUTHORITJES. The following provisions relating to governmentaluxes, 1_s and charges are a part of this Mortgage: 1:urrent Taxes. Fee. .and Charge.. Upon request by .lender, Grantor shall flxecute such documentS in addition to this Mortgage and Uke whatever other action is requested by .lender to perfect and continue under's lien on the Real Property. Grantor shall reimburse under 10r all taxes, liS described below, together with all expenses incurred in recording, perfecting or continuing this Mortgage, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Mortgage. Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Mortgage or upon Jill or any part of the Indebtedness secured by this Mortgage; (2) a specific tax on Borrower which Borrower is JWthorized or required to deduct 1rom payments on the Indebtedness secured by 1his 1ype of Mortgage; (3) JI tax on 1his 1ype of Mortgage chargeable against the under or the holder of the Note; and 14) JI specific tax on all or any portion of 1he Indebtedness or on payments of principal and interest made by Borrower. Sub.equent TJlxes. If any Ux to which this section applies is enacted subsequent 10 the date of this Mortgage, this event shall have the same effect as Jln Event of Default, and .lender may exercise any or all of its avaitable remedies for an Event of Default as provided below unless Grantor flither (1 ) pays 1he tax before it becomes delinquent, or (2) contests the Ux as provided above in the Taxes and .Liens section and deposits with .lender cash or a sufficient corporate aurety bond or other security aatisfactory to lender. SECURITY AGREEMENT; FJNANCING STA"J1:MENTS. The following provisions relating to this. Mortgaile as a security agreement are a part Df this Mortgage: Security Agreement. This instrument shall constitute JI Security Agreement to 1he extent any of the Property constitutes fixtures, and lender shall have all of 1he rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Jntere.t. Upon request by .lender, Grantor shalluke whatever action is requested by .lender to perfect and continue under's security interest in the Rents and Pflrsonal Property. In addition to recording this Mortgage in 1he reel property records, .lender may, at Jmy time and without further authorization irom Grantor, 1Ue executed counterparts, copies or rflproductions of 1his Mortgage as a 1inancing statement. Grantor shall reimburse .lender for all expenses incurrfld in perfecting or continuing this security interest. Upon default, Grantor shall not remove, sever or detach the Personal Property 1rom 1he Property. Upon default, Grantor shall JlSsemble any Personal Property not affixed to 1he Property in a manner and at a place reasonably convenient to Grantor and under and make it JlvaiJable to under within 1hree (31 days .after rflceipt of written demand from .lender to the extent permitted by applicable taw. Addresses. The mailing .addresses of Grantor (debtor) and lender (secured party) 1rom which infornut1ion concerning 1he security interest granted by this Mortgage may be obtained (each liS required by 1he Uniform Commercial Code) Jlre JIS stated on the first page Df 1his Mortgage. FURTHER ASSURANCES; ATTORNEY-JN-FACT. The 1ollowing provisions relating to further .assurances .and JIttorney-in-fact are a part of 1his Mortgage: F~rther AuuQlncu. At .any time, lInd from time to 1ime, .upon request Df under, Grantor will make, execute lInd deliver, Dr will J:JWSe to be made, executed Dr deliverild, to .lender or to under's designee, and when rflquested by under, .cJIuse to be filed, recorded, refiled, or rerecorded, as the case may be, at such times .and in such offices Jlnd places as under may deem appropriate, any and all such mortgages. deeds of tr1JSt, security deeds, security .agreements, financing statements, continuation statements, instruments of further .assurance, certificates,.and other documents liS may, in the sole opinion of .lender, be nacessary or desirable in order to flffectuate, complete, perfect, continue, or preserve (1) Borrower's and Grantor's obliilations under the Note. this Mortilage, and the Related Documents, and (2) the liens .and security interflsts created by 1his 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 under 10r all costs .and expenses incurrfld in connection with the matters referred to in 1his parJlgraph. Attomey-in-FJICt. If Grantor fails to do any of the 1hings referred to in the preceding paragraph. under may do so 10r and in the name Df Grantor .and at Grantor's flxpense. For such purposes, Gr.antor hereby irrevocably Jlppoints under liS Grantor's attorney-ir\-1act 10r the purpose of making, executing, delivering, filing, rflcordinil, and doing 1111 other things as may be necflssary or desirable, in .lender's sole opinion, to .accomplish 1he matters referred to in the preceding paragraph. FULL PERFORMANCE. If Borrower pays all the Indebtedness when due, and otherwise performs .all the obligations imposed upon Grantor .under this Mortgage, .lender shall flxeCute .and deliver to Grantor a suitable satisf.action of 1his Mortgage Jlnd suitable statements of termination Df .any 1inancing statement Dn file evidencing under's security interflst in the Rents Jlnd the Personal Property. Grantor will pay, if permitted by Jlpplicable taw, Bny reesonabJe Urmination 1ee JIS determined by .lender 1rom time to time. EVENTS DF DEFAU1.,.. Each of 1he 1ollowing, 1It .lender's option, shall ~onstitute anEvent of Default under 1his Mortgage: P.ayment Default. Borrower 1ails to make any payment when due .under the Indebtedness. Default Dn Other Payments. FlIiJure of Grantor within the timerequirfld by 1his Mortilage to make any payment 10r Uxes or insurancfl, Dr .any Dther payment necessary to prevent filing of or to Bffect discharge of Jlny lien. Dth.r DeñwJts. Borrower or GrJlntor 1.ails to comply with or to perform any other term, oblig.ation, ~ovenant or condition contained in 1his MoftiJage or in any Df the Related Documents or to comply with or to perform Bny term, obligation, covenant Dr condition contained in Jlny Dther Jlgreement betwflttn under lInd Borrower or Grantor. F..... Statements. Any warr.anty, representation or statemant made or 1urnished to undèr by Borrower or Gr.antor or on Borrower's Dr Grantor's :behalf .under this Mortgage or the Related Documents is 1alse Dr misleading in Bny material respect, flither now or at 1he time made Dr furnished or becomas 1alse or misleading 1It Jlny tima thereafter. Def.ctive 1:oUaterallzatlon. This Mortgage or .any of the Related Documents ceases to be in full10rce .and effect (including f.ailuril of Jlny ~ollater.al ~ocument to create a valid and perfected security interflst Dr lien) 1It any 1:ime .and 10r any reason. Death Dr Jnsolvency. The dissolution orurmination of Borrower's Dr Grantor's existencil asa going business, 1he insolvency 01 BorrDwer or - _5 .:.)¡ :~; ~ MORTGAGE (Continued) n Ii r:.f 8 9 1.. U ,_' J.. . P!lga 4- Grantor, the appointment of a receiver for any part of Borrower'!J or Grantor's property, any assignment for the benefit of creditors, any tyP& of creditor workout, or th& commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Grantor. Creditor or FOrfeltunr ~roceedfnø-. Commencement of foreclosure or forfeiture proceeding!J, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any property securing the Indebtednes!J. Thi!J includes a garnishment of any of Borrower's or Grantor's account!J, including deposit account!J, with Lender. However, this EVent of Default shall not apply if there is a good faith dispute by Borrower or Grantor 8Ir tcr th& validity or rea!Jonableness of the clainr which is th& basis of th& creditor or forfeiture proceeding and if Borrower or Grantor gives lender written notic& of the. creditor or forfeituÆ proceeding and deposiùr with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in iùr sol& discretion, 8Ir being an adequatlf reserv& or bond for th& dispute. EXlsttnv Indebtednen. Th& payment of any installment of principal or any interest on the Existing Indebtedness is not mad& within th& tlrmI' required by th& promissory not& evidencing suctT indebtedness, or a default occurs under th& instrument securing such indebtedness and is not cured during any applicable grace period in such instrument, or any suit or other action is commenced to forecloslf any existing lien on the Property. IJreactr of Ottrar Agreement~ Any breach by Borrower or Grantor under th& terms of any other agreement between Borrower or Grantor and: lender that is not remedied within any graclf· period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Borrower or Grantor to Lender, whether existing now or later. EVent!J Affecting Guarantor. Any of th& preceding event!J occurs with respect to any Guarantor of any of the Indebtedneu or any Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of th& Indebtedness. Advarse Change. A material adverse chang& occunr in Grantor's financial condition, or Lender believes th& prospect: of payment or performance of the Ind&bteclness is impaired. Insecurity. lender in good faittT believea itself insecure. RIGHTS AND REMEDIES ON DEFAULT. Upon th& occurrenc& of an EVent of Default and at anytlm& thereafter, Lender, at Lender'a option, may &xercis& any one ormor& ofth& following righùr and remedies, in addition to any other righùr or remedies provided by law: Accelerate Indebtedness. lender shall hav& the right at iùr option without notice to Grantor to declare the entll'& Indebtednesa immediately dug and payabl&, including any prepayment penalty which Grantor would be. required to pay. UCC Remedies. With respect to all or any part of th& Personal Property, Lender shall hav& all th& righùr and remedies of a secured party under th& Uniform Commercial Cod&. Collect Rents. lender shall hav& the right, without notic& to Borrower or Grantor, to take possession of th& Property, including during th& pendency of foreclosure, whether judicial or non-judicial, and collect: th& Rent!J, including amount!J past due and unpaid, and: apply th& net proceeds, over and above Lender's costs, against th& Indebtedness. In furtherance of this right, Lender may requil'& any tenant or other user of th& Property to mak& payment!J of rent or US& fees directly to Lender. If the Rent!J al'& collected by Lender, then Grantor irrevocably designates lender as Grantor'!J attorney-in-fact to endors& instrument!J received in payment thereof in th& name of Grantor and to negotlatlf th& sam& and collect th& proceeds. Paymermr by tenant!J or other users to lender in respons& to Lender's demand shall setisfy the. obligations for which th& payment!J are made, whether or not any proper grounds for the demand existed. Lender may exercisa iùr right& under this subparagraph either in person, by agent, or through a receiver. Appoint Receiver. lender shall hav& th& right to hav& a receiver appointed to take possession of all or any part of the Property, with th& power to protect and preserve the Property, to operate the. Property preceding foreclosure or sale, and to collect th& Rent!J from tha Property and apply the proceeds, over andabov& th& cost of th& receivership, against th& Indebtedness. 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 th& Property exceeds th& Indebtedness by a substantial amount. Enployment by lender shall not disqualify a person from serving as a receiver. Judicial FOreclosurlf. Lender may obtain a judicial decre& foreclosing Grantor's interest in all or any part of th& Property. NonJudicial Sale. Lender may foreclos& Grantor's interest in all or in any part of th& Property by non-judlcial sal&, and specifically by ~power of sale~ or ~advertisement and sal&~ foreclosul'& 8S provided by statute. Deflclency Judgment. If permitted by applicable-law, Lender may obtain a judgment for any deficiency remaining in th& Indebtedness dult to Lender after application of all amount!J received from the exercis& of the rights provided in this section. Temmc:y lit" Suffitnmc&. If Grantor remains in possession of th& Property after th& Property is said as provided abov& or Lender otherwis& becomea entitled to possession of th& Property upon default of Grantor, Grantor shall becom& II tenant at sufferanc& of Lender or th& purchaser of the Property and: shall, at Lender's option, either (1) pay II reasonabl& rental for th& US& ot th& Property, or (2) vacatlf th& Property immediately upon th& demand of lender. Ottrer Remedies. lender shall have all other righùr and remedies provided in this Mortgag& or th& Not& or availabl& at law or in equity. Sal& of thlt ~roperty. To th& extent permitted by applicable law, Borrower and Grantor hereby waiv& any and all right to hav& th& Property marshalled. In exercising iùr righùr and remediea, Lender shall b& fre& to sell all or any part of th& Property together or separately, in 011& sal& or by separate sales. lender shall be entitled to bid at any public sal& on all or any partion of thlt Property. Notlclt .of Sa lit. lender shall giv& Grantor reasonable notlc& of the time and place of any public sal& of th& Personal Property or of th& tlrmI' after which any private sale or other intended dispasitlon of th& Personal Property is to b& mad&. Reasonabl& notlc& shall mean notiC& given at least ten 1101 days befol'& the tlm& of th& sallt or disposition. Any sale of th& Personal Property may be made in conjum:tion with any sale of th& Real Property. Section of Remedres. Section by lender to pursue any remedy shall not exclude- pursuit of any ather remedy, and an election to maklt expenditures or to tak& action to perform an obligation of Grantor under this Martgag&, after Grantor's failul'& to perform, shall not affect lender's right to declal'& a default and exercis& its remedies. Nothing under this Mortgag& or otherwise shall be construed sa as to limit or restrict th& rights and remedies available to lender following an EVent of Default, .or in any way to limit or restrict the righùr and ability of lender to proceed directly against Grantor and/or Borrower and/or against any other co-maker, guarantor, surety or endorser and/or to proceed against any other collateral directly or indirectly securing the Indebtedness. Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforc& any of th& terms of this Mortgag&, lender shall b& entitled to recover such sum a!J the court may adjudg& reasonabl& .as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonabl& expenses Lender incurs that in lender's opinion are necessary at any tI~ for th& protection of its interest or the enforcement .of its righùr shall becom& a part of the Indebtedness payable an demand and shall bear interest at th& Not& rate from the. dat& of the expenditure until repaid. Expenses covered by this paragraph includ&, without limitation, however subject to any limits under applicable law, lender's reasonable attorneys' fees and Lender's legal expenses whether or not thel'& is a lawsuit, including reasonable attorneys' fees and expenses far bankruptcy proceedings (including efforts to modify .or vacate any automatic stay or injunction!, appeals, and any anticipated post-judgment collection services, th& cost of searching records, obtaining tItIlt reports (including foreclosul'& repartsl. surveyors' reports, and appraisal fee!J and title insurance, to the extent permitted by applicabl& law. Grantor also will pay any court costs, in addition to all other sums provided by law. NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice of default and any notice. .of sale shall b& given in writing, and shall be effective when actually delivered, when actually received by telefacsimile lunless otherwise required by lawl, when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Mortgagif. All copies of notices of foreclosure from thlt halder of any lien which has priority aver this Mortgag& shall be sent to Lender's address, as shown near th& beginning of this Mortgage. Any party may change its address for notices under this Mortgage by giving formal written notice to th& other parties, specifying that th& purpose of the notice is to change the party's address. For notice purpose!J, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is mar& than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to 811 Grantors. MISCElLANEOUS PROVISIONS. The following miscellaneous provisiomr are a part .of this Mortgage: Amendment!J. This Mortgage, together with any Related Documents, canstitutes th& entire understanding and agreement of the parties 8!r to the matters set forth in this Mortgag&. No alteration of or amendment to this Martgage shall be effectiv& unless given in writing and signed by the party or parties sought to be charged or bound by the alteration .or amendment. m;!li;~miIt ,. .-F~55 \ .~; ~~'~.'~ y.¡ . MORTGAGE (Continued) ,Ii. fì19 0 .,) u Page 5 Annual Reports. If the Property is lJsed for purposes other than Grantor's r.sidence, Grantor shallfumish to Lender, lJpon request, a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail BS Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Property. Caption Headings. Caption headings in this Mortgage are for convenience purposes only Bnd Bre not to be !.ISed to interpret or define the provisions of this Mortgage. Governing J.aw. This Mortgage wUI be governed by federal Jaw applicabJe10 !.ender Jlnd, 10 ~e extent not preempted by federal Jaw, ~ Jaws of the State of Wyoming wlthOJrt regard 10 iUconfllcts of Jaw provisions. This Mortgage hu been accepted by Lender in the Stag I)f Wyoming. .Joint Jlnd SeverBllJability. All obligations of Borrower and GrBntor lJnder this Mortgage shall be joint and several, and BII references "to Grantor shall mean .ach and.very Grantor, and BII references to Borrower shall mean each Bnd .very Borrower. This means that fich Borrower Bnd GrBntor signing below is responsible for all obligations in this Mortgage. No Waiver by Lender. .lender shall not be deemed to have wBived Bny rights lJnder this Mortgage unless such waiver is given in writing Bnd signed by Lender. No delay or omission on the part of Lender in .xercising any right shall operate BS B waiver of such right or any other right. A waiver by Lender of a provision of this Mortgage shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with thet provision or Bny other provision of this Mortgage. No prior waiver by Lender, nor any course of dealina between .lender and Grantor, shall constitute a waiver of any of .lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of .lender is required under this Mortgage, the grantina of .such consent by Lender in .any instanc. shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. SeverabUity. If a court of competent jurisdiction finds any provision of this Mortgage to be illegal, invalid, or unenforceable as 10 any person or circumstance, that finding shall not make the offendina provision illegal, invalid, or lJnenforceable BS to any other :person Dr circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, v.alid and enforceable. If the offending provision cannot be so modified,it shall be considered deleted from this Mortgage. Unless otherwise required by law, the illegality, invalidity, Dr lJnenforceability of any provision of this Mortgage shall not affect the legality, validity or enforœability of Bny other provision of this Mortgage. Merger. There shall be no merger of the interest Dr estate created by this Mortgage with any other interest or estate in the Property at Bny time held by or for the benefit of Lender in any capacity, without the written consent of Lender. SlJccesaor. :and Asalgns. Subject to any limitations stated in this Mortgage on transfer of GrBntor's interest, this Mortgage shall be binding lJpon and inure to the benefit of the parties, their successors Bnd assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness by way of forbearance or Bxtension without rBleasing Grantor from the obligations of this Mortgage or liability lJnder the Indebtedness. Time is of~eEssence. Time is of the Bssence in the performance of this Mortgage. Weiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead Bxemption laws of the State of Wyoming as to all Indebtedness secured by this Mortgage. DEFJNITIONS. The following capitalized words and terms shall have the following meanings when !.ISed in this Mortgage. Unless specifically .stated to the contrary, all references to dollar amounts shall mean Bmounts in lawflJl money of the United States of America. Words and terms ~d in the singular shall include the plural, and the plural shall include the singular, iIS the context may rBquire. Words and terms not otherwise Defined in this Mortgage shall have the meanings attributed to such terms in the Uniform Commercial Code: Borrower. The word HBorrowerH means COUNTRY CRAFTSMEN £NTERPAISES, INC and includes BII co-signers .and co-makers signing the Note and .all their SUCCBssors and BSSigns. Default. The word "Default" means the Default set forth in this Mortgage in the section titled HDefault". Environmental J.aws. The words "£nvironmental Laws" mean any Bnd all state, federal and local statutes, regulations and ordinances relating to the protection ôf human health Dr the Bnvironment, including without limitation the Comprehensive £nvironmental Response, Compensation, .and .liability Act of 1980, as amended, 42 U.S.C. Section 9601, Bt seq. ("CEACLAH). the Superfund Amendments and Reauthorization Act of 1986, P.ub.1.. No. 99-499 ("SARA"). the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, .t seq" Dr other applicable state or federal laws, rules, Dr rBgulations .adopted pursuant thereto. £vent of Def:ault. The words "£vent of Default" mean Amy of the Bvents of default set forth in this Mortgage in the events of default section of this Mortgage. .ExistIng Jndebtedneu. The words "£xisting Indebtedness" mean the indebtedness described in the £xisting l.iens provision of this Mortgage. GRlntor. The word "Grantor" means GUSTAV£l.INDBLOMJlndl.YNN 1.INDBLOM. Güanmtor. The word "GuarJlntorH means Bny guarantor, surety, or .accommodationpsrty of any Dr all of the Indebtedness. Guar:anty. The word "GuarantyH means the guaranty from Guarantor 10 Lender, including without limitation a guaranty of all or part of the Note. iiazardDWi Substances. The words "Hazardous Substances" mean materials that,becBuse of "their quantity, concentration or physical, chemical Dr infectious characteristics, may cause or pose B present or potential hazard to human health or the environment when improperly lJsed, treBted, stored, disposed of, generated, manufactured, transported or otherwise handled. The words HHazardolJs Substances" Bre lJsed in their very broadest sense and include without limitation .any and all hazardous or toxic substances, materials or wasta iIS defined by Dr listed lJnder the £nvironmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum Bnd petroleum by-products or any fraction thereof Bnd asbestos. Improvements. The word "Improvements" means all existing Bnd future improvements, buildings, str!JCtUres, mobile homes Jlffixed on..ne Real Property, facilities, additions, replacements Jlnd other construction on the Real Property. Jndebtedness. The word Hlndebtedness" means all principal, interBst, and other amounts, costs and expenses payable lJnder the Note or Related Documents, together with all renewals of, Bxtensions of, modifications of, consolidations of and substitutions for the Note Dr Related DoC1ßT1ents and any amounts expended Dr sdvanced by Lender to discharge Grantor's obligations or Bxpenses incurrBd by .lender to enforce Grantor's obligations lJnder this Mortgage, together with interest on such .amOlJnts as provided in this Mortgage. Specifically, without limitation, Indebtedness includes .all .amounts that may be indirectly secured by the Cr05s-CDllaterslization provision of this Mortgage. Lender. The word "under" means The Converse County Bank, its succilSSors Bnd assigns. Mortgage. The word HMortgage" means this Mortgage between Grantor Bnd Lender. Note. The word HNote" means -the promissory note dated DecBmber B, .2005, in the original principal .amount of $111.928.12 from Borrower to Lender, together with all renewals of, Bxtensions of, modifications of, refinencings of,consolidations of, snd substitutions 10r the promissory note Dr agreement. Personal Property. The words -Personal Property" mean all equipment, fixturBs, lInd other articles otpersonel property now or herBafter owned by Grantor, Bnd now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and .additions to, BII replacements of, .and Jill substitutions for, any of such property; and "together with all procBeds (including without limitation all insurance procileds Bnd reflJnds of premiums) irom any sale or other disposition of the Property. PI'Dperty. The word "Property" means collectively the Real Property and the PBrsonal Property. Real Property. The words "ReBl Property" mean the rBal property, interests and rights,.as further described in this Mortgage. Belated Documents. The words "Related DocumentsH mean all promissory notes, credit agrBements, loan BgrBements, environmental agrBements, guaranties, security BgrBements, mortgages, deeds of tr!.lSt, security deeds, collateral mortgages, and all other instTlJments, .agrBements.and doclJments, whether now or hereafter existing, executed in connection with the Indebtedness. ::':i:il!:!:~;t:¡;¡:;1 'II I I.',¡¡-¡:r~:'''jt;\ '!f.·ii,f"'~ \:., . '~'r¡St:: ..i/ --" '__. ,~\L"~ ......; MORTGAGE (Continued) C00191 . . Page & . ~ RItI1t!r. TfTe. word "Rents" means all present and tuturEI' r~, revenue5, incom&, issue5, royaltie5, profiŒ, and other benefits derived from thlt Property. EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE AND EACH GRANTUff AGREES TO ITS TERMS. x;Îi&Îi'f_~..':n: LYNN UN M .. . . . . . . . . . . . . . . . . . . . . . . , . . . . . . .......................... ............-........... ..................... .................... .... ............ INDIVIDUAL ACKNOWLEDGMENT STATEOF ~~ wr- COUNTY OF D Y1æ . . . , 'SS , TRESSIE AUSTIN . NOTARY PUBUC COUNTY OF. STATE OF CONVERSE WYOMING MY COMMISSION EXPIRES JUNE 21, 2009 On thi5 day befonf me, th& undersigned Notary Public, personally appeared GUSTAVE UNDBLOM and LYNN UNDBLOM, to m& known to bit the individual5 described in and who executed the Mortgag&, and acknowledged that: they signed the Mortgage as their free. and voluntary act and deed, for the uses and purpo5es therein ~*. r\ ()5 GIven u~ermy hand and Offf~. thl day of C r , 2 . lIy '-- 1\ QliJ\O Resldfnsrat Notary PublTc lIT and for th. State of LAHWI'Mf ......... v... Laoo.OIM. c.... ......... ""-W....... '-. tll1; ma- ....,.....~ _ WY m:\'="\t..PUØD1Pr; ~nm.. ~Æ ;:;1::;1!:~;:;:;¡;i::' ~~~j!':~'!::lli!