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HomeMy WebLinkAbout915101 RECORDATION REQUESTED BY: FIRST NATIONAL BANK· WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine, WY 83128 c Or 5 f\ 3 \, ..J ...." 1." WHEN RECORDED MAIL TO: FIRST NATIONAL BANK· WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine. WY 83128 !.,'. SEND TAX NOTICES TO: FIRST NATIONAL BANK· WEST Alpine 100 Greys River Rd, P.O. Box 3110 Alpine. WY 83128 RECEIVED 1/11/2006 at 10:14 AM RECEIVING # 915101 BOOK: 609 PAGE: 503 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY -~'.- "------ - T'~'~'--"-" ,;' SPACEABovfTHISLINÈ ís FOR RECORDER'S USE ONLY .. . 4, , -) ,i' ) ( Q\cJ I '.\. ,.) THIS MORTGAGE dated December 30, 2005, is made and exècutedbf;!tween MONICA MATHIÀS MASON. A MARRIED WOMAN. AS HER SOLE AND SEPARATE PROPERTY (referred to bèlow as "Grantor") and FIRST NATIONAL BANK - WEST. whose address is 100 Greys River Rd.. P.O. Box3110;Alpine. WY 83128 (referred to below as "Lender"). GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to lender all of Grahto~'s right, title, and interest in and to the following described real property, together witt'! all existing or subsequently erected or affixed build'ing's, improvements and fixtures; all easements, rights of way, and appurtenances; all 'water, water rights, watercourses and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits, relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") Jocated in LINCOLN County. State of Wyoming: LOT 4 DELL CREEK RANCHES. 2ND ADDITION AMENDED, LINCOLN COUNTY, WYOMING ACCORDING TO THAT PLAT FILED NOVEMBER 10. 2004 IN THE OFFICE OF THE LINCOLN COUNTY CLERK AS PLAT NO. 142-C. The Real Property or its address is commonly known as LOT 4 DELL CREEK RANCHES. ALPINE. WY 83128. Grantor presently assigns to lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY. IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBLIGATIONS UNDER THE NOTE. THE RELATED DOCUMENTS. AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS: PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to lender all amounts secured by this Mortgage as they become due and shall strictly perfo~mall of Grantor'sobligation~ under t~is Mor~gage. , ;" POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's 'possession ánd use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an. ElÍentof Default, Grantor may (1) remain in possession and control of the Property; (2) use, o'perate or manage the Property; and (3) collect thB Rents from the Property. Duty to Maintain. Grantor shall maintain the Property in good condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. .. , Compliance With Environmental laws. Grantor represents and warrants to lender that: (1) During the period of Grantor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has no. knowledge of, or reason to believe that there has been, except as previously disclosed to and acknowledged by lender in writing, (a) any breach or violation of any Environmental laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any person relating to such matters; and' (3) Except as previously disclosed to ,and, ~çknoyV,ledgeR by lender in writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall Use'; generàte;rT1anufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property; and (b) 'any such actiyity'shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including without limitatiOh all Environmental laws. Grantor authorizes lender and its agents to enter upon the Property to make such inspêctions and tests, at Grantor's expense, as lender may deem appropriate to determine compliance of the Property with this section of the Mortgage.. Any inspections 'or tests made by lender shall be for lender's purposes only and shall not be construed,tocre¡¡te any responsibility Qcliabilityon the pilrt,of,lender to Grantor or to any other person. The representations and warranties,containeQ nerein Qrø based .on Grantor's 'due-dili'gence in Investigating the Property for Hazardous Substances. Grantor hereby (1) ;reieâ$f1s'~¡'d waivås' anyfutlire claims againstllindÙ'for indemnity or contribution in the event Grantor becomes liable for cleanup or Qthércóiíts lìnder any such laws; and' (2) . ágrêes to 'indemnify and hold harmless lender against any and all claims, losses, liabilities, dama,ges, penalties, and expenses which lender' may directly or indirectly sustain or suffer resulting from a breach of this section of the Mortgag,eor as a consequence of any use, generation,. manufacture, storage, disposal, release or threatened release occurring prior to Grantor's 'ownership'or interest in the Property/whether or n-ot the same was or should have been known to Grantor. The provisions of this section ófthe Mortgage, including the obligation to indemnify, shall survive the payment of the Indebtedness and the satisfaction and reconveyahce of the lien of this Mortgage and shall not be affected by lender's acquisition of any interest in the Property, whether by foreclosure or (¡,thèfwise., ; .' L'" ',' :" " , ' Nuisance. Waste. Grantor shall not cause, co~dJCt ôr 'permitàny 'n'u¡$an~e nor commit, perml':, 0/ ~u'u~~ a';;y stripping of or waste on or to th~ Property or any portion of the Property. Wit~q'úriimlt¡l1g theg~nerf!iity' of thefòiégi?ing,'dfåntor will:riqt remove, or grant to any other party the right to remove, any timber, minérals (including oil and gásL coal, clay, sêoriá, 'soil, gravel o'r 'rock products without lender's prior written consent. Removal of Improvements. Grantor shall riotden;öli~h or remove 'any; Imp¡oiierhents frbm thé ReaiPróperty without lender's prior written consent. As a condition to the removal of any II1)provements, lender may requir~ Grantor to make arrangements satisfactory to lender to replace such Improvements with Improvements ~f !It ,least ~qual value., ' , lender's Right to Enter. lender and lender's a!:!~n~s,anpJ~pf.esen,t~,tiv,~sw,ay enW,YRon, the,RII!\IPrc1!?\!rty ~t,,1I reasonable times to attend to lender's interests and to inspect the Rea! ProH~r:~y,f()r,purposesot.9rant9r's,?ompl!ance ~it!1the tl('ms,~!"d conditions of this Mortgage. Compliance with Governmental Requirements.' ;Grarii6r shall promptly comply i/vith allläws;'ordinånces, 'and regulations, now or hereafter in effect, of all governmental authorities applicable ,to the use or occupancy of the Property, Grantor may contest in good faith any such law, ordinance, or regulation and withhold compJianqe during any proceeding, incll,J9ing appropria,tè appea'ls, so long as Grantor has notified lender in writing prior to doing so and so longås, in lender'S' sole òpiniòn, lender's interests in the Property are not jeopardized. lender may require Grantor to post adequate security or a surety bond, reasonably satisfactory to I:.ender~ to protect lender's interest. Duty to Protect. Grantor agrees neither to abando~ or leave unattended the Property. Grantor shall do all other acts, in addition to those '''' ," lo"h ,bo.e I. thl' ""'00, whl,h '''m the. ,h"""" .., ". 01 Ih. P...."y ." ".""bly """"y .. p..~ nd p ese rve the Property. " '" ','" , . ,~ Inffia~ Initials f~·::.:wfi~*~!~jiWj ~:;:~;t1::;:::::::;::::: ,~:::.:.:t:.:i:¡:f:,::;j ,I :::~¡rnili~!{~ , , MORTGAGE (Continued) " ' ,-, Loan No: 761001102 C~ÆJ ~':iü:L "': J L~ '", ,-'> ;' 0.00.504 Page 2 ,!.... .,' , " ." CONSTRUCTION lOAN. If some or all of the prticeeds qf. the, loan creating the Indebtedness are to b~ u'sed to construct or complete construction of any Improvements on the Property, the ImprOvements shall be completed no' later than the maturity date of the Note (or such earlier date as lender may reasonably establish! and Grantor shàll pay in full 'all 'costs 'andexpehses' iÍicQnnectibn with the work. Lender will disburse loan proceeds under such terms and condìtionsasLender may deem reasonably .necessârytó insure that the interest created by this Mortgage shall have priority over all possible liens, including those of material suppliers and"workmen. Lender may require, among other things, that disbursement requests be supported by receipteq bills, expense affidavits, waivers of IiEms, construction prOgress reports, and such other documentation as Lender may reasonably request.; ¡: ' " ':',....:,... ,';' : ,', :' , , TAXES AND LIENS. The following prOvisions relatihg to'the taxes and liens on the PrOpertyàre partofthis Mortgage: . " -, " . ~. .:, '-', ., ',:.,' I.... '.. " ' , _ Pilyment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, payroll taxes, special taxes, assessments, water charges and sewer service charges levied against o ran accountof the Property,and shall pay when due all claims for work done on or for services rendered or material furnished to the Property. ,Grantor shall mairtain the Property free of any liens having priority over or equal to the interest of Lender under this Mortgage, except'for those liens specifically agreed to in writing by lender, and except for the lien of taxes and assessments not due as further specified in the Right to Contest paragraph. Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over thB obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is f.iled as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs andreasonable attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under the lien., In any contest, GrantOLshall,defend itself and lender and shall satisfy any adverse judgment before enforcement against the Property, Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest prOceedings. ' """ ' ,,' Evidence of Payment. Grantor shall upon demand furr)lshtô Lendersatisfactory'evi'dence ofpayÍTIè;"t'ê#th'etaxes or assessments and shall authorize the appropriate governmental official to' deliver to Lender at aný' timå a written statemeOtô{the iaxes and assessments against the Property. ' " , ,',' , ", '.., ' I, ' , , Notice of Construction. Grantor shall notify Le~der.at 'least fifteen (15) days before anyw~rk is ~()fTlme~~ed, any services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien,çould b!;!asserted on account of the work, services, or materials. Grantor willupon;requl!stPf lender Jurni~h to Lender advance assuriJn~èss¡Îtisfactory to Lender that Grantor can and will pay the cost of such improveiT1en~s¡ ,:''';'':,,', , " , ";,' . . ,"" .,.' PROPERTY DAMAGE INSURANCE. The following pibVi~i9ns' relating to insuring the, Property are apàrt.?f 'this"Mortgage: Maintenance of Insurilnce. Grantor shilll procure and maintain polièies of fire insurance with stilndard extended coverage endorsements on a replacement basis for the full insurable valuecoveril1g all Improvements on the ,RealProperty)n an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of lender,.'p,òliciesshallbe written by such insurance companies and in such form as may be reasonably acceptable to lender. Grantor shall deliver to Lender certificates of coverage from each insurer containing a stipulation that coverage will not be. cancelled or diminished without a minimum of thirty (30) days' prior written notice to lender and not containing any disclaimer of the insurer's. liability for failure to give such notice. Each insurance policy also shall include an endorsement providing that coverage in favor of lender will not be impaired in any way by any a¡;t, omission 'or default of Grantor or any other person. Should the Real Property be, located in 'an .area; desigl')ated; by the 'Director, of the .Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insuran'ce, if available, 'for the full unpaid principal balance of the loan and any prior liens on the property securing th'e loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for t~e te,rm of the ,loan.;" Appliciltlon of Proceeds. Grilntor shall promptly notify Lender of any loss, or damag,e to .the Property if the estimated cost of repair or replacement exceeds $1.000.00. Lender milY make pro'óf of loss if Grantor fails tódo ,sp witl)i~fifteen q 6,1 days of the casualty. Whether or not Lender's security is impaired, Lenger O)åy,~t ,~ender's, ele?tioflJ receive,anc( .r~taiQ ·th!:1pr.oçé'eq~ of any insurance and apply the proceeds to the reduction of the Indebted':Hjss,';,Þ~Yr'neni: o(anylie!'1 atfè'c~ì'~g thep,r:opeÌ'i:y,þrine' [e~Vó~~tiqri\and repair of the Property. If Lender elects to apply the proceeds ro restoratig/\ ,a'fld, råp~ir,Grantor sh~lir~pài(òrr,eplac9 the' dam'a'ged .or ,destroyed Improvements in a manner satisfactory to Lender. Lender.shall, upon,satis{aétory proó'f, ofs'lich exþençjiture, payorrein'1burse Grantor from the proceeds for the reasonable cost of repair or restoràtiorÎ if Grantor is 'nòt in defa~lt under this Mortgage. Änyproceeds which have not been disbursed within 1 80 days after their receipt and which Lender has not committed. to the repair or restoration of the. Property shall be used first to pay any amount owing to Lender under this Mortgage, ,tHen :to pay accrued interest, and the' remainder,if any, shall be applied to the principal balance of the Indebtedness. If lender holds any pr,oceeds after paY.'llent in full of the, Indebtedness, !¡uclipróceeds shall be paid to Grantor as Grantor's interests may appear. ' , . , '" ' , '. ,;; " , lENDER'S EXPENDITURES. If Grantor fails (A) to keep the Property free otall taxes, liens, security interests, 'encumbrances, and other claims, (B) to provide any required insurance on the Property,'or (C) to make 'repairs to the Property then Lender may do so. If any action or proceeding is commenced that would materially affect Lende'r's interests in the Property, then lender on Grantor's behalf may, but is not required to, take any action that Lender believes to. be, appr()priate to protect lender's. interests. All expenses incurred or paid by lender for such purposes will then bear interest at the rate chargeq,l,fÌ1der the Note from the d.ate incurred or'paid by lender to the date 0' repayment by Grantor. All such expenses will become a part of th~ InC ¡¡'l?tedness é nd, at Lender's option,yvilf (A)bE!p'!ýàble,on demand; (B) be added to the balance of the Note and be apportioned amongaflP h~'payable with anyin~t~II[T1ent payments_to,Þecorrie'puè during either (1) the term of any applicable insurance policy; or (2) the remain!nQ,t~~m,<:Jf.tl1e Note; or (C)''?è treate~ a~ a: Þallooì:i'p~'YrTi~(I't which will be due and payable at the Note's maturity. The Mortgage also will secure paymentof these amou~ts', Therights pro\iide¡j,fofN thi:fþaragraph shall be in addition to any other rights or any remedies to which Le~der n;uiy. b~i¡ntitlë~ ~riaccou~t'o'féliiy' def~,UI(,,' 'Ary',si,(c,ti'action by lender shall not be construed as curing the default so as to bar Lender from,allY remedy that It otherwise would have had., , . , " ". .' ":-'.¡"j' , WARRANTY; DEFENSE OF TITLE. The following provision~ relating to ownership of the, Proj:¡érty ~re;ap~~tonhis Mortgage: Title. Grantor warrants that: (a) Grantor holclsgopd and mar!<etabletitle of record ti:>'the Prope'rtyiÌ, fee simple, free and clear of all liens and encumbrances other than thoSB set forth in.the Real Property description or in any title insuranCej)Qlicy, title report, or final title opinion issued in favor of, and accepted by, lender inèonnection with this Mortgag~~ and Jb) Grantor has the full right, power, and authority to execute and deliver this Mortgage to lender. ".', , " " ' '," ',... " ';, . "'; , :',' " .- . ,~;,q ,:::·_1, ·,t ".,'.- Defense of Title. Subject to the exception in the paragraph above, qrantor warrants and win forever defend the title to the Property against the lawful claims of all persons. In the event ilily action or proceeding is commenced that questions Grantor's title or the interest of Lender under this Mortgage, Grantor shall defend thi!aètionilt Grantor's expense. Grantormay be 'the nominal,party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by çounselof Lender's own choice, and Grantor will deliver, or cause to be delivered,-tóLender such instruments as Lender may' requestiÌrbm time to time to permit such participation. '." ,.', \, " ;"'1'" Compliilnce With lilws. Grantor warrant!:! ,th~t'in~' 'Prøperty and. Gràntor's us~ of'the:;'~roP~McÖ~PI¡~;~¡ with all existing applicable laws, ordinances, and regulations of governmental authoritie$. " , , ! ' ""', ' . ,~ " ., ':,' Survival of Promises. All promises, agreements, af'ldstatements Grantor has made in this Mortgage shall survive the execution and delivery of this Mortgage, shall be continuing in riatureand shall remain in full force, and effect Until súch 'time 'as Grantor's Indebtedness is paid in full. "','.." .' , " : ' CONDEMNATION. The following provisions relating to ,condem~ation prOc,eedings are a part9f this,tv1~rtga'g'e:' Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly' I'\Qtify'Lender ii1 writing, ijnd Grantor shall promptly take such steps as may be necessary to defend thl' .ac:tion and obtain the award. Granto,r.may be the nominal,party in such proceeding, but lender shall be entitled to participate in the pro~~~ding and to be represented in the,proceeding by counsel, i?f its own choice, and Grantor will deliver or cause to be delivered to L.e~de~',~l!!':h ihstrUments and doclJmen,tati()f)',ai;' m~y, be regu~sted by Lender from time to time to permit such participation. ".':.:::::', ....".... ., ..'.";<' '",:t',;J.<;,i.'·:>',I',,;,~;,(.... Application of Net Proceeds. If all or any paxh:if)l'Ìe Property is condei'TÎòed by'eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender maY'!ltí~s ele!!tiol1 requirl' thatall or any, P9r.tlon,of tþe pet proceeds of the award be applied to the Indebtedness or the repair orrestoration ot the Property, Thenet proceeds 'of théaward 'shall mean the award after payment of all reasonable costs, expenses, and attorneys' fe~$.i;n,~~.rred by ~ender 'in cO,nnection With·the c~ndemnation.:. ' IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The f?lIo'~ingpro\(fsionsrelating to gov.ernmen al taxes, Initials Initials ,.-.¡! -..~<~,~.~,;¡- :. ':'~' :-"'="J' . Loan No: 761001102 O~1.51.ü1 MORTGAGE (Continued) ('('I05'Or: i.,.U ',. I ~ Page 3 fees and charges are a part of this Mortgage: Current Taxes, Fees and Charges. Uponreqùest by Lénder, Grantòrshall execute such docum~ntsinaddition to this Mortgage and take whatever other action is requested by lender to perfect and co.ntinu'eLender's lien on 'the R'earProperty~ Grantor shall reimburse lender for all taxes, as described below, together with all Bxpenses incurred in recording, perfecting·Úcontinuingthls 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 appli,es:( 1) a specifiç ta'xupon this typebf Mortgage or upon all or any part of the Indebtedness secured by this Mortgàg ;,' (2), a specific tiùton Graf1tor 'which Grantor is authorized or required to deduct from payments on the Indebtedness secured by this typeo'f ,Mortgage; . (3), a tax' on this type of Mortgage chargeable against the lender or the holder of the Note; and (4) a specific tax on' all or any portion ,of the Indebtedness'or on payments 'of principal and interest made by Grantor. , ",..,', " Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of "this Mortgage, this event shall have the same effect as an Event of Default, and lender may exercise any or ållof its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with lender cash or a sufficiBr;1t cörporate surety bond or other security satisfactory to lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Mortgage as a security agreement are a part of this Mortgage: Security Agreement. This instrument shall constitu~e a Secuiity Agreement to the extent any of the Property constitutes fixtures, and lender shall have all of the rights of a secured party under the Uniform Commercial C?de.as.am~nc ~dtrolÌ1 fime to time. Security Interest. Upon request by lender, Grantor shall take whatever action is requested Qylenderto perfect and continue lender's security interest in the Personal Property. In addition to rec'ording this Mortgage in the real property records, lender may, at any time and without further authorization from Grantor, file executed counterparts, ,copies or reproducth:>ns of this Mortgage as a financing statement. Grantor shall reimburse lender for all expenses incurred in perfecting or continuing this security interest., Upon default, Grantor shall not remove, sever or detach the Personal Property.from the Property. Upon default, Grantor shall assemble 'any Personal Property not affixed to the Property in a manner and at a place reasonably, convenient to Grantor and LI~nder an~ ma~eit available to lender within three (3) days after receipt of written demand from lenderto the extent permitted by ap~licablelaw. .',,' ". ,,:', , Addresses. The mailing addresses of Grantor (debtor) and lender (secured party) from'wtiithinformatiòn 'concerning the security interest granted by this Mortgage may be obtained (each as required by the Uniform Commercial' Còde) are às stated on the first page of this Mortgage. " . FURTHER ASSURANCES; A HORNEY -IN-FACT. Th~)ollo~ing provisions relating to furtl1 ra~suranc~s ~~nd:~ttorneY-in-fact are a part of this Mortgage: Further Assurances. At any time, and from time to time, upon request of lender, Grantor will make, ¡¡xecute and deliver, or will cause to be made, executed or delivered, to lender or to lender's designee, and when requested by lender, c'ause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and'in such offices and places as lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, . security agreements, financing statements, continuation statements, ,instruments of further assurance, certificates, and other documents as may, in the sole opinion of lender, be nec ssary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Grantor's obligations under the. Note"this Mortgage, and the Related Documents, and (2) the liens and security interests created by this Mortgage as first and prlor,liens on the Property, whether now owned or hereafter acquired by Grantor. Unless prohibited by law or lender agrees to the contrary in writing.. 'Grantor shall reimburse lender for all costs and expenses incurred in connection with the matters referred to in this paragraph, ' Attorney-in-Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, lender may do so for and in the name of Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints lender as Grantor's attorney-in-fact for the purpose of making, executing, delivering, filinjJ, recording, and doing all other things as may be necessary or desirable, in lender's sole opinion, to accomplish the matters referred'to in the preceding paragraph. ,:,<')~, ',;1'" ' . ~ . . ¡:.. - " . '" ., ':,' FUll PERFORMANCE. If Grantòr pays all the Indebt~cIness .VI(hen due, and otherwise performs,all tlÌeobligafiòns imposed upon Grantor under this Mortgage, lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage. and suitable statements of termination of any financing statement on file evidencing lender's secUrity'interest in the Rents 'and the Personal Pro"perty. ': 'Grantor will pay, if permitted by applicable law, any reasonable terrnination fee ás d~te(mined by lenderfrorn time totime.!' ':' " '" EVENTS OF DEFAULT. At lender's option, ,ÇJrarìto~yvill b~ in default under this Mortga¡:¡e if any of t~~, following happen: Payment Default. Grantor fails to make any paymèìlt when due under the Indebtedness.; Default on Other Payments. Failure of Grantor within the time required by this Mortgage to make any payment for taxes or insurance, or any other payment necessary to prevent filing of òrto'effect discharge of any lien. . . . Break Other Promises. Grantor breaks any promise made to le~cÍ.er orfails to' perfor,m promptly at the time and strictly in the manner provided in this Mortgage or in any agreement related to this Mortgage. ,", , , False Statements. Any representation or statement made or fu~ni~hed to lender by Grantor o'r on Grantor's behalf under this Mortgage or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished. .' . . Defective Collateralizatlon. This Mortgage or any of~he Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time'andfor any reason. ' Death or Insolvency. The death of Grantor, the insolvency of Grantor, the,appointment ~f aråç i"erfor anypart of Grantor's property, any assignment for the benefit of creditors, any t'ype ot."creditor workout; o~the commence~ent, ot,' any '¡)iqc eding under any bankruptcy or insolvency laws by or against Grantor. ' , Taking of the Property. Any creditor or governmental agency tries to take any of the Property oråny other of Grantor's property in which lender has a lien. This includes taking of, garnishing of or levying on Grantor's âccounts with [ l1der:, However, if Grantor disputes in good faith whether the claim on which the taking'of the Property is based is valid or reasonable, and if Grantor gives lender written notice of the claim and furnishes lender with monies or a.surety bond satisfactory to lender .to satisfy the claim, then this default provision will not apply. ," Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and lender that is not remedied within any grace period provided therein, including without limitation any agree merit c~ncerning any indebtedness or other obligation of Grantor to lender, whether existing now òr later.' " ,. , ", ' . Events Affecting Guarantor. Any of the preC~di'1geve~ts occurs withrespect to ~ny gú'ar~ntor,~l"Id!>'rser,surety, or accommodation party of any of the Indebtedness or any guarantor,endorse'r, surety, or accommodatipn, party dies.~r l)~comesincompetent, or revokes or disputes the validity of, or liability under, anyGuaranty"of the Inµeþtedness, In the eventpf; a qeat~, lender, at its option, may, but shall not be required to, permit the guarantor's estate,to assume unconditionally the, ,pbligations, arising under the guaranty in a manner satisfactory to lender, and, in doing so, cure any Event of Default. " Insecurity. lender in good faith believes itself insecure.," , ' i RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Ev~,ntof pefåult and at any time tþ~re¡¡ft~r ,but subject to any limitation in the Note or any limitation in this MortgajJe, lender.,atl!,!n~er's option, may exercise anyone or more of the following rights and remedies, in addition to any other rights or remedies provided by law: Accelerate Indebtedness. lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable, including any prepayment pe!)la,lty w~ich Grantorw,0uld be required, tÇl pay., UCC Remedies. With respect to all or any'partbfthe Personal Property, lender shall 'have all the rights and' remedies of a secured party under the Uniform Commercial Code. . .., ' ., ' .-.: \ Collect Rents. lender shall have the right, witlÍdut'notÚ:e to Grantor, to take possession of theProperty,lncluding during the pendency of foreclosure, whether judicial or non-judicial, and·'coil~ct the Rents, inclùding arnounts ¡)'ast dueand;unpaid; and apply the net proceeds, over and above lender's costs, against the Indebtédn'ess. In furtherance of this right, lender may require any tenant or other user of the Property to make payments of rent or use !~e~ djrectly to lender. If the ~e~ts are collected by lender, then Grantor i~r .y designates , , Initial "j . m~¡¡mi~¡¡¡):¡; '.n't ~;'!l:m~;¡¡j¡m¡ili- 091.5101 '~Imlæf:~~' Loan No: 761001102 MORTGAGE (Continued) " nhn5p6 '... V ,-:-!..v Page 4 lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to lender in response to lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand e'xisted. Lender may'exercise its rights under this subparagraph either in person, by agent, or through a receiver. Appoint Receiver. lender shall have the right to ,have a receiver appointed to take possession of âll or any part of the Property, with the power to protect and preserve the Pioþerty, to operate thEîProperty preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above th'e cost of the receivership, âgainst the Indebtedness. The receiver may serve without bond if permitted by law. lender's right to t~e appointment ,a! a receiver shall exist ,whether or not the apparent value of the Property exceeds the Indebtedness by a substa':ltia,1 am?,u!)t. .~mploymen~.bY lend~r shallnotdisqu~lify a~ers9n fror~serving as a receiver. Judicial Foreclosure. lender may obtain ajudi~,ial~'ecree foreclosing Grantor'sinterestÎn all'orany'part of ~he Property. Nonjudicial Sale. Lender may foreclose Gr¿nto~'~' inte~est in all ò'tïn 'any part of the Prop'arty by hon-judicial sale, and specifically by "power of sale" or "advertisement and sale" foreclosure as provided by statute'. " Deficiency Judgment. If permitted by applicable law, lender may obtain a judgment for any deficiency remaining in the Indebtedness due to Lender after application of all amounts received from the e¡cercise of the rights provided in this section. Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of lender or the purchaser of the Property and shall, at lender's option, either (1) 'pay a reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the demand of lender. ' , Other Remedies. lender shall have all other rights and remedies provided in this Mortgage or the Note or available at law or in equity. Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives, any and all right to have the Property marshalled. In exercising its rights and remedies, lender shåll be fret? to sell all or any' part of the Property together or separately, in one sale or by separate sales. lender shall be entitled to bid at any public sale on all or any portion of the Property. , " , Notice of Sale. lender will give Grantor reasonable. notice of the time ¡!Od place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is 'to be made,' Reasonable notice shall mean notice given at least ten (10) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with any sale of the Real Property. , Election of Remedies. All of lender's rights 'arid remedies will be',cumulativ~and may be'exeri:isêdalo~e or together. An election by lender to choose anyone remedy will not bar,lender from using anypther remedy. IfLen~e~,decige~t~'~pend money or to perform any of Grantor's obligations under this Mortgage, after Grantor's' failure to do so,' that decision 'bý Lender will' riot åffect lender's right to declare Grantor in default and to exercise lender's remedies, Attorneys' Fees; Expenses. If lender institutes åny suit or action to enforce ~ny of the terms of this Mortgage, lender shall be entitled to recover such sum as the court may adjudge reaspna.bh~ as attorneys' fees at trial and upon any åppeaL Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that i,n lender's 'opinion are necessary at any time for the protection of its interest or the enforcemellt of its rights shall become a part of the Indebtedness pay¡¡ble on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, I,.ender~s'reasonablê attorneys' fees and lender's legal Elxpenses whether or not there is a lawsuit, including reasonable attorneys' fees after default ,andrefe¡ral to an attorney not Lender's sa ¡uied employee and expenses for bankruptcy proceedings (including efforts to modify or ,vacate any autÒnia'tic stay or injunction). appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure rElports). surveyors' reports, and appraisal fees and title insurance, to the extent permittecj, by applicable law. Grantor also will pay any, c¡ourt, costs, in addition to all other sums provided by law. ,," , ',', NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice'of default and any notice of sale shall be given in writing, and shall be effective when actuallydølivered, when actually received by telefacsimile ,(unlessotherwise required by law). when deposited with a nationally recognized overnight coµrier, ,or, if mailed, when deposited in theUnit~d ,States mail, as first class, certified or registered mail postage prepaid, directed to the addresses ,shown near tne beginning of this Morigåge. Allcopies of notices of foreclosure from the holder of any lien which has priority over this Mortgage shall be sent 'to lender's address,:~ssho.vvrÍn~ar the beginning of this Mortgage, Any person may change his or her address fOr notice~ ,l,mder this Mortgage by giving formal writt~n n9tice to, the other person or persons, specifying that the purposB of the notice is to change.,the person's address, For notice purposes, Grantor agrees 'to keep lender informed at all times of Grantor's current address. Unless otherwise¡jrovided or required by law, if there is more than One Gra'ntor, any notice given by lender to any Grantor is deemed to be notice given to all Grantors. It will be Grantor's responsibility to:tell the otlÌersofthe notice from lender. MISCELLANEOUS PROVISIONS. The following miscell~':;eous provisions are a part of this Mortga'ge: Amendments. What is written in this Mortgag'e and in the Related Documents is' Grantor's entire agreement with Lender concerning the matters covered by this Mortgage. To be ettectivEl,'any change or amendment to this Mortgage must be in writing and must be signed by whoever will be bound or obligated by the change Or amØndment. ' Caption Headings. Caption headings in this Mortgage are for convenience 'purposes only and are not to be: used to interpret or define the provisions of this Mortgage. "" Governing Law. This Mortgage will be govemèd by'f~dera'l law applicable to Lender and, to theëxi~nt not preempted by federal law, the laws of the State of Wyoming without regard to its conflicts of law provisions. This Mortgage has been accepted by Lender in the State of Wyoming. ' Choice of Venue. If there is a lawsuit, Grantor agrees Üpon lender's request to submit to the jurisdic;tion ,olthe courts of Lincoln County, State of Wyoming. : , , No Waiver by Lender. Grantor understands lende'r will not give up any of lender's rights under'this Mortgage unless lender does so in writing. The fact that lender delays or omits to eX'ercise 'any right will not meari that lend~r has given,up that right. If lender does agree in writing to give up one of lender's rights, that does not mean Grantor will not have to'comply vviththeother provisions of this Mortgage. Grantor also understands that if lender does conseiit'to a request, that does not mean that Grantor WIll not have to get lender's consent again if the situation happens again. Grantor furth'er understands that just because lender consents to one or more of Grantor's requests, that does not mean lender will be required t~consent to any of 'Grantor's fut,ure fI~que~ts: Grantor waives presentment, demand for payment, protest, and notice of dishonor. Grantorvvaives all rights of exemptionfrofl} e~ecutioq or"sÎm,i!ar law in the Property, and Grantor agrees that the rights of lender in the Property under this Mortgag~ are prior to G(antor'~ riøhtswlÌÎle this'Mbrtgagø remains in effect. Severability. If a court finds that any provision of this Mortgage is not valid or should nOt b~enfor.céd, that fact by itself will not mean that the rest of this Mortgage will not be valid or enf6rc~d, Therefore, a court, will enforcethe rest pf ,the provisions of this Mortgage even if a provision of this Mortgage may be found to be invalid or urenforceable.. " " " , " " Merger. There shall be no merger of the interest or estate created by this Mortgage with any other,interest or estate in the Property at any time held by or for the benefit of Lender inany'capacity, without the written consent of Lender.,,:,' .:, "'" ' Successors and Assigns. Subject to any limitation~,~t¡¡tedjn this Mòrtgage ontransierQf Gr~~toí-"'~interest, this Mortgage shall be binding upon and inure to the benefit of the parties, theirsùccessQr~andassi{ ns; .,Ifownership of the Propert,y becomes vested in a person other than Grantor, lender, without notice to Grantor, may ,deal with' Grantor's suc~essor~'with ref~rence to, tni,sMortgage and the Indebtedness by way of forbearance or extension without releasingqrantor from the obligations of this: Mortga{¡!'!,9r liabil~ty under the Indebtedness. Time Is of the Essence. Time is of the essence in the performance of this Mortgage; Waiver of Homestead Exemption. Grantor hereby releâsesand waives all rights and bemitits oltlie homeståadêxemption laws of the State of Wyoming as to all Indebtedness sElcured by'this Mortgage. . ;.',-' ,'''<' DEFINITIONS. The following words shall have the following meaning's when used ir)}hi~Mortgage: , Borrower. The word "Borrower" means ~ONICA(VIATHIAS MASON ar)d inGlucl~s all'ço-~¡gnersar'l,d c()-rriakers signing the Note and all their successors and assigns. ¡";:,:.~:. , ',i"!':-'" Environmental Laws. The words "Environm~htal. Lawš" mean any and all state, fed~ral.and Ipi:al's'tat~tés, regulations relating to the protection of human health or the environment, including without IimitatiOIl the Comprehensive Er¡\(irQ, ' ! ,. , , '. Initial' inances sponse, Initials 091.51.01, Loan No: 761001102 MORTGAGE (Gontinued) , ('0 r'5 t, 7. '\,.;' ) ,;' ." Page 5 .,.. . , .. . ..., .' '-, ", ; Compensation, and Liability Act of 1980, as amended, 42 U.S.C.' Section 9601, et seq. ("CERCLA"). the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA"). the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Sec~ion 6901,et seq., or other, applicable'~tate or federal laws, rules, or regulations adopted pursuant thereto. , . , Event of Default. The words "Event of Defaylt" me¡¡n any of the events of default set forth in' this Mortgage in the events of default section of this Mortgage. .. ", ' " " Grantor. The word "Grantor" means MONICA, MATHIAS MASON._:~~;¡:<,,~<,;>.,:~ ' Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without limitation a guaranty of all or part of the Nôte, . , , Hazardous Substances. The words "Hazardous Substances· mean materials that, b,ecause of their quantity, concentration or physical, chemical or infectious characteristics; may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, stored, disposed of; 'generated,' manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense 'and include without limitation any and all haz¡¡rdous or toxic substances, materials or waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by-products or any fractiori thereofaric;lasbestos. Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacements"and o~her construction on the RearProperty. Indebtedness. The word ·Indebtedness· mea.ns all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, cônsolidations' of and substitutions for the Note or Related Documents and any amounts expendedor~c;lvanced by Lender to discharge Grantor's obligations or expenses incurred by Lender to enforce Grantor's obligations under this Mortgage, 'together with interest on ,such amounts as provided in this Mortgage. Lender. The word "Lender" means FIRST NATIONAL BANK - WEST', its successors and assighs. The words "successors or assigns" mean any person or company that acquires any interest in the Note. Mortgage. The word "Mortgage" means this Mortgágebetween Grantor and Le~der. " , Note. The word "Note" means the promissory note dated December 30, 2Ó05,in the original principal amount of $1,010,303.25 from Grantor to Lender. together with all renewals of, extensions of, ,modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agre'errient. " ' '" , Personal Property. The words "Personal Property" mean all equipment, fixtl,Jres, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements ot, and all substitutions for, anyot such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums) from any sa'leor other:disposition ofthePr~perty., ',' ..", " , Property. The word . Property" means collectively the Real Property and 'the Personal' Property';' ), ' Real Property. The words "Real Property" mean the real property, interests and rights, as furtherC ¡¡scribedin this Mortgage. Related Documents. The words "Related Documents" meé nall, promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements,. môrtgages, ~ de'eds' òf trust, security deeds, collateral. mortgages, and all other instruments, agreements and documents, whether now or hereafterejdsÌing, executed in,conriei:tion with the Indebtedness. Rents. The word "Rents· means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property, ' '~ ~'::.\ ,.. .; ,~, , GRANTOR ACKNOWLEDGES HAVING READ ALL T iE PfiOYIS10NS OF,THIS,,!,ORTGAGE, AND GRANTOR AGREES TO ITS TERMS. GRANTOR: XMONJ:Jt.~ . , i",; .', INDIV'ÎDUALACKNOWLEDGMENT: . :: ~ ~ . LùýOMiVLt COUNTY OF ~ 6ntL STATE OF NOTARY pUaLlc KIM M. CARROLL STAlt OF WYOMING COUNTY ÜFNA. TRONA. Commlssio/l ric'·,."'!iß,~pl18 ,2008 On this day before me, the undersigned Notary PLiblii:; personally appear 'A-'I'IffA:s-M~, me known to be the individual described in and who executed the Mortgage, ,and acknowledged that he or ,she signed the Mortgage as his or her free and voluntary act and deed, for the uses and purposes therein mentioned. ,. , ' ~ Given un~d" m h.od ~od offl.i~ ...lthi, ~ ~ d., Of.,. ",.., ....,.'.... . ....,. ,.. '. 2' O. tJ6 , B, -- -m ClUv\W- ...idioB· ~11~!nt Notary Public I and for the State of J ) ý () My commission expires ,,9/ I r¡ ¡ () ~ , , ".,,' ';'" ',;' "'. . ~ . -". . .'~ ~; "'(';;'¡ i ,- LASER PRO L..dirlg. v.. 5.30.00.cÎ04 coP,: Hwl..-¡d rlf1~c¡'¡ SQtytion.. Inc. {S87. 2005. . AI Rig"'u R"lII'wed.. -.M D:\LASERP~().\FN~~~FI_\lPÙG~:~&;:·:_T~_,øpo " " , ¡'~' ~.'" ¡. 1.·...,,',·~/ì"II' " t:~;.r::;;1~~1ift~1I;¡;r tI.1i:~¿t¡l,-,-;¡J:;:h';¡[i1' í:ff:;j~::if:::::if). ~:::::!·r.:~~:.3;;lJ f~"