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RECORDATION REQUESTED BY:
FIRST NATIONAL BANK - WEST
Alpine'
100 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128,
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RECEIVED 1/24/2006 'at 10:4:;'A~ M n.. ""'''''',''', "
RECEIVING # 915423
BOOK: 610 PAGE: 362
JEANNE WAGNER
.. LINCOLN COUNTY CLERK, KEMMERER, WY
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WHEN RECQRDED MAIL .TO: , " t,'
FIRST NATIONAL BANK - W~ST :".'i
Alpine ., ,
100 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128
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SEND TAX NOTICES TO:
FIRST NATIONAL BANK· WEST
Alpine
100 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128
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SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
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MORTGAGE
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MAXIMUM LIEN, The lien of this Mortgag.e slÎ~II not exceed atany one time $75,000,00.
THIS MORTGAGE dated January 17 , 2006~ .ismade and executed between BRIAN W LITTLETON and ROSEMARIE
LITTLETON, not personally but as Trusteës' on · behalf of LITTLETON FAMILY REVOCABLE TRUST (referred to
below as "Grantor") and FIRST NATI.().NJ\~,BA~,K '. VV~sT;,w~Þ,~~Jld9~ess is100,Greys ~iver Rd" P.O. Box 3110,
Alpine, WY 83128 (referred to bel()w as,~~Lender~').; (,,, 1,,\,,:\, ,,'.,"¡'.¡ "", ,
GRANT OF MORTGAGE. For valuablec~n~ide¡'~tlo~',. Gr~i1to(moit~äQ:~~:a~à'd9nV~Y~'¡o"L~n~er aU of~rantor.;s irj'ght, ,tit,lè, and interest in ancJ to
the following described real property,· t~ge·t~~r 'wiW':~!1 ~~ìstiÌlg::ô~, ~úõ~è.queiit)Y,· :eie~~.~d" ()r· "ffJxed :buildings; irnprbvementsand fixtures; all
easements, rights of way, and appurtenances;: ¡¡I¡- ~åWr,; ~!ltè(iÎghb¡, c vrate'fc'!>lJrSes'·.ar;¡,C . cJitc!;1 rights:' (incllJqirig' 'stoçk' irr utilities. with cJitch or
irrigation rights); and all other rights:, i(waì~í~'~~., ~Rd! ~þti;ifJt~, .tel~lti,nf ~Q:; thø"r~aL P'¡ÓP,ëi,W\;.irii:l4di¡iq::~itho<yt ,~.í.r;iit~tjR;;;)¡¡)!,·\p1\nerals~ · oil, gas,
geothermal and similar matters, (the Real Property) rocated tn' LINCOLN tounty~ State of WyoO'lIng: ..'.. .'... '
SM· eetSEE ATTfÅfC,H ED t'~fEGtAhLh D.,E...S.CR. ...J....r...j:.I."~...".N..", ,W,hiCh,.)¡s. ~tt. aghe,d,.,to, t~is, ,MWI.tgag~:,~I1~.,~mfJ~fI ,a."p,art of this
or gage as I U Y se . or eretn. ."~;.; ,.:', : ,: ' '. .. . .
The Real. Property or ·its 'add~es~' is. I:o·mrr;'ôniy,~khôwH·..~~~· 2âói,;·$,tÈWAHTT~AIL,ETNt\." WY .,83118. ,The Real
Property tax Identification number is 12-3619-24-1'-00-179,00,' . ' , . ., ,.", ,"j ,,,I , '
REVOLVING LINE OF CREDIT. This Mortgage'secLlre~, the}ndebtednessincluding,.withoutlimitatio~:a rev~lvingline of credit, which obligates
Lender to make advances to Grantor so long as GrantoicOmplies with all the terms of the Cr¡idit'Agreement.
Grantor presently assigns to Lender all of 'Grantor's:¡'i~ht;'¡Ùde,and 'interest in a~d t'o"~1I present å~d f~tureleases of the Property and all Rents
from the Property. In addition, Grantor gr'ants to Lender a 'Uniform Commercial Code s·ecurity interest in the Personal Property and Rents.
THIS MORTGAGE, INCLUDING,THE A$SIGNMENTQF RENTS AND THE SECURITY INTEREST,)riI TH : fiENTS AND PERSONAL PROPERTY, IS
GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDN.ESS AND (B) PERFORMANCE OF EACH OF GRANTOR'S AGREEMENTS AND
OBLIGATIONS UNDER THE CREDIT AGREEMENT, :THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND
ACCEPTED ON THE FOLLOWING TERMS:
PA YMENT AND PERFORMANCE, Except .asothe¡,vvis~'; ¡;;ovided ,io this. Mórtgäg:e, Grantor' shall pay to lender all amounts secured by this
Mortgage as they become due and shall strictlyperfo'r~~II~~ Grantor's obligation~underthis. Mortgag~:· ,.
POSSESSION AND MAINTENANCE OF THE PROPERTY.. Grantor agrees thatGrantor'spl;>ssessionånd use of the Property shall be governed by
the following provisions: ',.. .... " ..' '. ,. .
Possession and. Use. Until the o¿~4;r:Jr1Céof ,À~.~~~rt:Rf :pe{àuli,', G;~~~·C;r may .( 1). . r.e1)1 ain, in, pps~essi()n, šI(1d. çontrol of the Property; (2)
use, operate or manage the Property; and (3)' collect the Rents from the Property; . .',' .'; ..' '., ".' '
Duty to Maintain, Granto{ :~h'all: rnai~tå¡rJ~e ¡~rop'etty\ jo gpq~ ,c,oncJi~io,n, ~n!1. p(Ornp~ly p;erfprm" ¡¡II repairs'l~p!ac~rnli!nts, and maintenance
necessary to preserve its valúè. .,', : IJ·:.:;.,.\.h.L.o,. .'¡ ';';':."~' !' ." .'J;""L~'" I ",!;,,\,"¡,'.'.'/o ,I. t.;b .¡<.o, .:
é~f11pilance' ~it¡' Envir~~~~'~tal Lar;~:":Þ:r:i~.~W.~¡e~{.~~~Ht?%4'ir;~~~~ßf~~p,-L~ri~~r·,~~at:~ .('ii:.:p~~!hg.JI~e.~i~¡,¿~; .91 Gr~nJpr'~ .ownership of
the Property, there has. been .n0lf~~..,ge,nl¡!,r1jtlOR' ,ma.n4.f,a.cWr~, s,lwagli!~;,~re~f!D~1?,t,.ß,'~p,9s,a~ r~I~¡¡sepr.tl]re)ate~ed ,r¡:¡I~ase, pf aqy Haz,ardous
Substance by any person pn, under, about or ;frqrp t~~Prop~(ty;., .... (~) ... q.rë:lntqr hils no., knoll'{ledge: of; pr.· rea.son to ,belieitè .that there has
been, except as previously disclose~L1t(j' and âG~n:öw¡~d:ge~"by J£Ùîdei',ìn 'wriiing;'.·/a¡" '~'ny' 'b'i~ai:K 'örviålåtion òfàny· Environmental laws,
(bl any use, generation, manufacturë/storag'e, treainiènt. aisposal;'relèâsé"ó¡"tnr'eateried releás!e of any HazardoUs Substance on, under,
about or from the Property by any prior 9wners:or' occupants of the Property, or (c) any actual or threatened litigation or claims of. any
kind by any person relating to such matters; ar¡d (31 Except.aspreviously .disclosed to and acknowledged by Lender in writing, (a) neither
Grantor nor any tenant, contractor, ågent.dr diner àuth'orizeduser of the Prope'rtysha'lIú'se,'gèheiáHCmanufacture, store, treat, dispose of
or release any Hazardous Substance !;In, under" about. or from the Property; and (b) any such activity shall be conducted in compliance
with all applicable federal, state, 'and'lo~aOa'll(s)'regu1ations iind ort!in'anc~s, 'inclJdinlfwiÙìout limitation ;aIlE~wironmental Laws. Grantor
authorizes Lender and its agents to ent!!r~pon'the .property to, l"Qakf;l :$uch;inspectiÖr'ls and tes's, at;Gi'antor's expense, as Lender may deem
appropriate to determine compliance,oUhe Properw:w.ith this ' ¡;ec,ion of the Mortgage. Any inspßcJions or tes,ts made by Lender shall be
for lender's purposes only and shall not be'cdn'§trùed~to create any responsibility 'or liabilitvon'thepart "of Lender to Grantor or to any other
person. The representations anti iNaUåntiescorita¡!1edher~in jire b!l~ed on Grantor's .due diligence in investigating the Property for
Hazardous Substances. Grantor ~er~by I (ll,.re.lf'~.se~}!l1d w¡¡i,,:es anY,futpreclaim~éjgainst Lender for indemnity or contribution in the
event Grantor becomes liable fOr cle!lnu¡:l or OJher cçsts ,unqeranYhsllch laws; and: (2) aQrees to ,indemnify and hold harmless Lender
against any and all claims, losses, liabilities, darriage~, p~nà!~ies, and' expenses w_h}ch Lender may directly or indirectly sustain or suffer
resulting from a breach of this section of the Mortgagèor' asa conseql,Jenceof any use, generation, m'anùfàcture, storage, disposal, release
or threatened release occurring prior ~o Grant9.r'.SJ;iwnership Qf iflterest in thf! Proper~y, whettieror noÚhesame was or should have been
known to Grantor. The provisions of thisseéiíori of the Mortgage, including the' obligàtion td indemnify, shallsurvive the payment of the
Indebtedness and the satisfaction and rë'convb\¡!:t'n'd{ôt' the lien 'of this Mortgage and shall not be .aff¡~cted by Lender's acquisition of any
interest in the Property, whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause,.con~lÌê;t:6r:þ'erinit'¡:IOYllui~ance' nor commit, permit::o( suffer any stripping of or waste on or to
the Property or any portion of the Property, Withbut·liriliting ihe' generality of the foregoing, Grantor will not remove, or grant to any other
party the right to remove, any timber, minerals;(~.Qc!lJ~ing ~iI !In,d gasl, coal, clay,scori,a,soil~ gravel qr. foçk products without Lender's prior
written consent. ,.' r;yc'u" :,)i L.: : .', . ' '.'. .,' ' ,
Removal of Improvements. Grantor shall·· not :d~mplish èOr. remove, anylm'provements from ,the Re!jl. Property without Lender's prior written
consent.. As a condition to. the remov.al,of an,y,:\r(1proy!!ments, Lender may requira Gr<\ntor, tomé\k.earrangements satisfactory to Lender to
replace such Improvements.with Improvements,of at lfié\st equal value,. . .. .
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Lender's Right to Enter. lender and lender's ag~n~s: ,åndrepresefltàtives may. enterup0r1' th.~ Real Pi'öpertyat all réasonable times to attend
to Lender's inter.ests and to inspect the Real pri:Ú).~rt~::färpurppsesof Grantor'sc9mp¡¡~née ,V'lit~ the terms and conditions of this Mortgage.
Compliance with Governmental Requirements, Grantorshall promptly comply with all laws, ordinances, and regulations, now or hereafter
in effect, 'of all gov'ernmental authorities applicab)e t().the us.e or ,occup,ancy of thePropeqy. Grantor ,may çontest in good faith any such
law,ordinanca, or regulation and withhold complian'ce during anyproceeding\ including appropriate appeals, so ¡ong as Grantor has notified
Lender in writing prior to doing so and so long as, in Lender's sole opinion, lender's interests in the Property are not jeopardized. Lender
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L:oan No: 764003352
MORTGAGE,
(Continued)
CQ0363
Page 2
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may require Grantor to post adequate security.or.¡¡ ,sPrety bon~', reasonably satis,factory to Lender, to 'p~otect Lender's interest.
Duty to Protect. Grantor agrees neither to ab,pf1don,or leave unattended the Property. Grantor, shall do'all!other acts, in addition to those
acts set forth above in this section, whic.h from the character and use of the Property are reasonably necessary to protect and preserve the
Property. ...
DUE ON SALE - CONSENT BY LENDER. ·Lender. may, at Lender's" option.- declare immediately due and payable all sums secured by this
Mortgage upon the sale or transfer, without Lender's prior Written consent, of all or any part of the RealProperty, or any interest in the Real
Property. A "sale or transfer" means the èon'veyance p1Råal Property or any right, title or interest ir)th,e Real Property; whether legal, beneficial
or equitable; whether voluntary or involuntary; whetþer· by. outright sale, deed," installment sale' cÖritract, ·Iand contract, contract for deed,
leasehold interest with a term greater than three (3¡Vears,lease-o'ption contract, or by sále, assignment, or transfer of any beneficial interest in
or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property. However, this
option shall not be exercised by Lender if suc~ exerfise is prohibited by federal law or by Wyoming law.
TAXES AND LIENS. The following provisions reJatingto the taxes and liens on tlie F'roperty ~repart of this Mortgage:
Payment. 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 or on account of the Property, and shall pay when due all claims for work done on or for
services rendered or material furnished to the Property. Grantor shall maintain the Property free of any liens having priority over or equal to
the interest of Lender under this Mortgage, except for the Existing Indebtedness referred to in this Mortgage or 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 the
obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is tiled 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 tiling,
secure the discharge of the lien, orif requested by' Lender, deposit with Lender cash or a sufficient corporate surety bond or other security
satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and reasonable attorneys' fees, or other charges that
could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any
adverse judgment before enforcemenf against the Property; Grantor shall name Lender 'as an ·additionalobligee under any surety bond
furnished in the contest proceedings; " ,. ' . ' " ,
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Evidence of Payment. Grantor shall upqn demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
authorize the appropriate governmental official to deliver to Le.nder. at any time a wri,tten state.i'D,ent of the .1axes and assessments against
the Property. . ... ',', ....., ".. "' ,t...."
Notice of Construction. Grantor shall notify Lender at'laasUifteen (l5)days bèfore ai'iywork ¡s'commenced, any services are furnished, or
any materials are supplied to the Property, if alW mechanic's lien, materialmen's lien, or other lien' cO\Jld be asserted on account of the
work, services, or materials. Grantor will upon'réC Uès't of Lender ·furnìsh to Lender advànce assurances satisfactory to Lender that Grantor
can and will pay the cost of such improvements. , .
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a'part of this Mortgage:
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
a replacement basis for the full insurable value covering alllmproll,ements on the Real Property in an amount sufficient to avoid application
of any coinsurance clause, and with a . standard mortgaQe'é\!láuse in favor of Lender. Grantor shall also procure and maintain
comprehensive general liability insurance in such coverage· amounts' as Lender may request with Lender being named as additional insureds
in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, business
interruption and boiler insurance as Lender may.require. Policies shall be written by such insurànce companies and in such form as may be
reasonably acceptable to Lender. Grantor shall d~liv!!r to Lender certificates of coverage from eélch insurei containing a stipulation that
coverage will not be cancelled or diminished ~i~~q!Jt ~ mi,nimum, of thirty (30) day~'prior .w(ittennotipetç¡ ,Lender, and not containing any
disclaimer of the insurer's liability for fílilu~e tog!ye s,,!ch notipe:.Eélch insurance policy ~!so shall)nplu,de an endorsement providing that
coverage in favor of Lender will not be 'impaired in anyway by<any act, omission 'or defaultof Grantor or any other person, Should the Real
Property be located in an area designated by the Director of the. Federal Emergency Management Agency as a sp!!cial flood hazard area,
Grantor agrees to obtain and maintain Federal Flood Insurance, if available, forthe maximum amount of your· credit line and the full unpaid
principal balance of any prior liens on the property'seclJring the loan, up to the maximum . policy . limits' set under the National Flood
Insurance Program, or as otherwise required by' L~~der~· and to maintain such ïnsurançe for t~'etetm' of ~h~ loan;
it... ,', ", ' ; 1, - , . . - . " ":" .- \ t .',' ., " " ,.., ~', ::.- " I· . ......, '. ' , " ,
Application of Proceeds. Grantor shall promptlý notlfý Lender of any loss or dam,~gè to~~~ Property if t~e estimated cost of repair or
replacement exceeds $1,000.00. Lender may, !l1i'\ke proof of loss if Grantor fails to do so withil1fiH.eenJ1 5) days. of the casualty. Whether
or not Lender's security is impaired, Lender .rT1ay, ¡¡to Lerder's ,electiç¡n, receive ¡md retain ~he:'proceeds of any insurance and apply the
proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of the Property. If
Lender elects to apply the proceeds to restoration and repair, Grantor shalf repair or-replace the damaged' or destroyed Improvements in a
manner satisfactory to Lender. Lender !ìhall, ,\JPC)I'1 ,satisfactory proof of such expenditure, payor, r,eimburse G,rantor from the proceeds for
the reasonable cost of repair or restoration if ,c;>rantor .is not in default under this Mortgage.. Ar'1Y,proceed~,which have not been disbursed
within 180 days after their receipt and ~hiçh Lender has not committed to the repair, or rest9fation· of, the Property sh¡¡1I be used first to pay
any amount owing to Lender under this M9rt9a,QE!,:~hen topày accrue~ interest, and" the remail1per, if ~ny ;,s,l1all be applied· to the principal
balance of the Indebtedness. If Lender hqlds élny proceeds after payment in fuU¢f the,lndeþtedness, ~\Jchprqc~eds sh¡¡U be paid to Grantor
as Grantor's interests may appear. . ."
Compliance with Existing IndebtedneSll, quring th~ p~riod in which any ~xisting Indebtednes~ d~scJibed below is in effect, compliance with
the insurance provisions contained in the¡instrument eviden.cing such Existing Indebtedness shallconstiiutecompliance with the insurance
provisions under this Mortgage, to the, exteQt compliance with the terms, of this Mortga.g~ :,rJåyi,d èo~stityt!! a duplication of insurance
requirement. If any proceeds from theil?surànce become payable on loss, the provisìons in· this Mortgage for division of proceeds shall
apply only to that portion of the proceeds not,payable to the holder of the Existing Indebtedness.
LENDER'S EXPENDITURES. If Grantor fails'(A) to keep the Property free of all taxes, liens, securityínt~rests, encumbrances, and other claims,
(8) to provide any required insurance on the Property, (C) to make'repairs to the Property or to comply with any obligation to maintain Existing
Indebtedness in good standing as required below"then Lender may do so. If any action or þr'oceeding is commenced that would materially
affect Lender's interests in the Property, then L~nd~r'0':l':Grant9r's be,half may. but is notr.equired tq, take any élqtion that Lender believes to be
appropriate to protect Lender's intere~ts. 'All e~penses .inc.l!~red c;>r paid, by Lender for su~h purposf,!swill then bear interest at the rate charged
under the Credit Agreement from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become. a part
of the Indebtedness and, at Lender's option, will (A)·be payable on demand; (8). be added to the' balance of the Credit Agreement and be
apportioned among and be payable with àny instalh'nerit payments tobec'ome due during either (1}theterm·of ~nyapplicable insurance policy;
or (2) the remaining term of the Credit Agieerrient;:c:¡r-(C) be treated asa balloon paymenfwhichwill be due and payable at the Credit
Agreement's maturity, The Mortgage alsowiil'seèure 'payment of th~se 'amounts," The rights provided for in this paragraph shall be in addition
to any other rights or any remedies to which ,Lender may. be entitled 011 account of any .default: Any such action by Lender shall not be
construed as curing the default so as to bar Lender!h:~maI1Y remeçJy ~hat it o~herwise would have h¡¡d.. .
WARRANTY; DEFENSE OF TITLE. Thefollowing provis.ïpn,~ rEllating tÇl,ownership 'of the Property are.a par~ 9f thi~ Mortgage:
Title. Grantor warrants that: (a) Grantor holds goociand marketable title of record to the Prbperty in fee simple, free and clear of aU liens
and encumbrances other than those set forth'in'theReal.Propertý.dêscriptidn or in the. Existing Indebtedness section below or in any title
insurance policy, title report, or final title:opiniónissued in' favor·o'f, and acceþted by, Lender' ·in connection with this Mortgage, and (b)
Grantor has the full right, power, and authority to' exeélJte and deliver this Mortgage to Lender.' .
Defense of Title. Subject to the exception in theÞår~graph'a,bov~;'Graritor wa~rants :ánd·willf9rever' d~i.eiidthe' title to the Property against
the lawful claims of all persons. In the event ah'y'action or pioceedingis 'cómmencedthat questions: G~arltor'.s titl.e or the interest of Lender
under this Mortgage, Grantor shall defend thë,:~i:'t!on' at'Grantor's .expense.~ (3raniór may bethe,nqminalpartyiil such proceeding, but
Lender shall be entitled to participate in the p.?o·èe~diiig and to be represented in the proc¡¡eding by coùnsel of Lender's own choice, and
Grantor will deliver, or cause to be d~livere·d". to '.t.:endersuçhinstrumerits as I-end.er. m~yrßquE1st from time to time to permit such
participation. ; ..,.,.... '. . ,., ." ..;': ,,'il' .....'(,;.... ,,,',.,'
Compliance With Laws, Grantor warrànÚithat the'Propertyand Grantor's use olthe Propeitycomplies'with all existing applicable laws,
ordinances, and regulations of governmentál authorities.· . . ,. . .,' '.' ..,'....,,'
Survival of Promises. All promises, agreements, and statements Gràntor has made in this rvlortgage shall s,urvive the execution and delivery
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Loan No: 764003352
MORTGAGE
(Continued) [
000364
Page 3
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of this Mortgage, shall be continuing in nature'and ,shall remài;'in full for¡::e.andeffect until su¡;h time as Grantor's Indebtedness is paid in
full. ., '.".
EXISTING INDEBTEDNESS. The following provisionsçÒri¿~rning Existing Indebtødnessare a part of this Mortgage:
" , ':, f'- " . . .. ';, . . ;"; . . '.~ -' - .
Existing Lien. The lien of this Mortgage sec~rihg tÍ1elndebtedness may be secondary arid ï"n1erior to an existing lien. Grantor expressly
covenants and agrees to pay, or see to the payment of; the E,~isting Indebtednessand;to: prevertanydefaul~on such indebtedness, any
default under the instruments evidencing suc~.!n~~bt~qness,or:a,I1Y,d~fault~nder,any seéuritydoclimentsfor such indebtedness.
No Modification. Grantor shall not enter ,into ¡J,.{yagreement with.the"i1b,(der ofanymôrtgage, deed of trust, or other security agreement
which has priority over this Mortgage bywhich,that . agreement is modified~arn\1nd~d~ e,4eQ~ed, ,or r~ne,wed without the prior written
consent of Lender. Grantor shall neithe(request n?r accept any future advance~' u'nder' any sÙSh'se,c'Urhy agreerrient without the prior
written consent of Lender. ., .... i . ... .. .... ." :" '. .' .
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CONDEMNATION. The following provisio,:,srelatingtþçondemnationproceedings arE! ,a partof this Mortgage: ,
Proceedings. If any proceeding in condemnation is. filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take
such steps as may be necessary to defend the action.and obtain the award. Grantor may .be the nominal party in such proceeding, but
lender shall be entitled to participate in the proceeding and to. be represénted 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.
Application of Net Proceeds. If ali or ahy part ,of t,h'e Propèrtyis condemned by emiflent domain prOceedings or by any proceeding or
purchase in lieu of condemnation, Lendermay.·at itselection'require that ali or any portion Of the net proceeds of the award be applied to
the Indebtedness or the repair or restoration ò(the Þroperty. The net proceeds òfthe aWard shall 'rriean the award after payment of all
reasonable costs, expenses, and attorneys' fees incurred by Lender in connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY ,GOYERNMENTAL AUTHORI.TIES. The following provisions relating to governmental taxes,
fees and charges are a part of this Mortgage: " , ,
Current Taxes. Fees and Charges. Upon request by Lender; Grantor .shall execute such dQcumènts i'naddltion to this Mortgage and take
whatever other action is requested by lender to perfect and CQntÎnue·Lender's lien on the Real Property. Grantor shall reimburse lender for
all taxes. as described below, together with 'ali expenses incurred in recording. perfecting or continuing this Mortgage, including without
limitation all taxes, fees, documenta~rysta~ps~al1d other, charges for recording or registe.rin~phisMortgage", .
Taxes. The following shall constitute taxes to livhichthis sectio'n 'applies: (1) .a specific tax upon this type'ofMortgage or upon all or any
part of the Indebtedness secured by this Mortgage; (2) a specific tax on Gré;lntor which Grantor is authorized or required to deduct from
payments on the Indebtedness secured by this type of Mortgage,; (3) atax on this type o.f Mortgage chargeable against the lender or the
holder of the Credit Agreement; and (4) a, specific: ta~on all or any portion' óf thE¡ Indeb~e,dness or (jn payments of principal ånd interest
made by Grantor, .', ,', "0',, '...' . '.;~ . "':',,'. .
Subsequent Taxes. If any tax to which this f!ectionàpplies is 'enaètec:! subsequent tqthe dateþf' this Mort~age, this event shall have the
same effect as an Event of Default, and .lendermayexercise any or all of its available remedies for an Event of Default as provided below
unless Grantor either (1) pays the tax before Ü þecomes delinqyent, Qr.. (2)... contests. the tax as provided above in the Taxes and Liens
section and deposits with lender cash ora sufficient èorporate surety bond or other secUrity satisfaètory to lender.
SECURITY AGREEMENT; FINANCING STATEMENTS... The,foll¡;W¡~~ '~rovisr/)~~\ ~elati~g to this Mortgage as a security agreement are a part of
this Mortgage: " '; " . ,,' . .
'> . '. : -.,', '. " .
Security Agreement. This instrument shall constitute a Security 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 çommercial Code, as amended .trom time to time.
. ~.. '!J ;'~. ::."' :",-' !', .' ..' . .-.'_;' '-, ì I '. ;" . . ": .; , , ',", :. ',' ',: ..,' _.. "'. ". .' , .
Security interest, Upon request by Lender, Grantor shall take whatever action is requested by lender to perfect and continue Lender's
security interest in the Personal Property. In~dqitiön,.t9, recording this Mortgage in the real property, records, Lender may, at any time and
without further authorization from Grantor; filè'ex'e'i:ì.itedcOunterparts,copi~s or reproductions of this· Mortgage as a financing statement.
Grantor shall reimburse Lender for all expens(Úi'inc'Í:jRèd in perfecting ·or continuing this security ¡ntere'st. . Upon default; Grantor shall not
remove, sever or detach the Personal PropertYi f(om·the Propêi:ty.Upon· default, Grantor shalla$s~mble :any I Personal Property not affixed
to the Property in a manner and at a place reas9nably. cQnvenient'to Grantor and ·lenderand make' it'ilVailable'to lender within three (3)
days after receipt of written demand from lendèrtoJh!! e.xtent permitted by applicable law.· . .
,. ..... ../.,..:.,.... " .... ',.' , ...
Addresses. The mailing addresses of Grantorldebtor and lender (secured party)f~Qm 'which infOrmé\tiqn concerning the security interest
granted by this Mortgage may be obtained (~ac~,as required by the Uniform Commercial Co~e¡are,a5 'stated on the first page of this
Mortgage. . :.... . '. .
FURTHER ASSURANCES; ATTORNEY·IN·FACT; The,'following provisions relating to fuqher assUr-ár')cesapd attorney-in-fact are a part of this
Mortgage: .;e..., , """
Further Assurances. At any time, and from tin,eto;time, upon request of lender, Grantor will m'ake, execute and deliver, or will cause to
be made, executed or delivered, to Lender or to Lender's designee, and 'when requested by lender, cause to be filed, recorded, refiled, or
rerecorded, as the case may be, at such times'and in such offices and places as lender may deemapproþriate, any and all such mortgages,
deeds of trust, security deeds, security agreements, financing statements. contim¡ation statements, instruments of further assurance,
certificates. and other documents as may, in the sole opinion of Lender, be necessary or, desirable in order .to effectuate, complete, perfect,
continue, or preserve (1) Grantor.'sobligations';ln~er the Cr~dit Agreemeryt, thil!N1ortgag,e, and the Related Documents, and (2) the
liens and security interests created by this Mortgage on the Property, whether now owned or hereafter acquired by Grantor. Unless
prohibited by law or Lender agrees .to.tl1e contrary in writing,ßrantor snail reiIT,lburse lender, 'for ,all costs ánd· expenses incurred in
connection with the matters referred to in"this paragraph. .,' .' ' . ,.', . '
Attorney-in-Fact. If Grantor fé\ils to do any of the things referred 'to in 'the preceding p'aragraph, lenderrriay då 50 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, filing, 'recording, arid doing all other things ¡IS may be necessary or desirable, in lender's sole
opinion, to accomplish the matters referred to:in the preceding'paragraph.' ' .... '
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FULL PERFORMANCE. If Grantor, pays al('th~ Indèbtedness wh,e'/'}' due, terrriioat~s thecred!t line aèco'vnt, and otherwise performs all the
obligations imposed upon Grantor underthis'Mórtgage, lender shall execute ånd deliver to Graritor 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
Property. Grantor will pay, if permitted by appliçable I~w, ~riy reasonable terminationfee as ~etermined.by Lender from time to time.
.... .!. .',' .. ': ,.' ',-..: _,. "', '. t ','
EVENTS OF DEFAULT. Grantor wi.1I be)riqef~u,ltund'érthis MortgiÌøeif any of the foilovvin~ happen: (A)t3r~!1torcommits fraud or makes a
material misrepresentation at any time in'còn~ection with the Credit Ag·reement. . This' cáninclúde; for example, a false statement about
Grantor's income, assets, liabilities, or any ót~er aspeéts9f Grantor'l! financial condition." (S) . '->rantor does not meet the repayment terms of
the Credit Agreement. (C) Grantor's aetiond(Înac.tiÓrxadV,ersely affects the collateral or'Lender's'rightsin the collateral. This can include, for
example. failure to maintain required insurance; waste: or. destructive use of the tlwelling, .failure to pay taxes, death of all persons liable on the
account, transfer of title or sale of the dwelling; creationo.t. a senior 'lien on the dwelling vyithou~ Lender's permission, foreclosure by the holder
of another lien, or the use of funds or thedwe.lling.forprohibite~ p~rpos.es. '. "
RIGHTS AND REMEDIES ON DEFAULT. Uponthec)(;cuáence 'of an EventofDefault and at any time thereafter, lender, at lender's option, may
exercise anyone or more of the following rights, and r.emédie~, in a·dditipn to any other rights or remedies provided by law:
Accelerate Indebtedness. lender shall have the right at its oPtion wi.thout notice to Grantor to declare the entire Indebtedness immediately
due and payable, including any prepaymentpèn~IW;yYþi¡;h Grantor .w.ould be required to pay. .
UCC Remedies. With respect to all or anypâr·t,of the' Personal PrOperty, lender 'shall have all the rights and remedies of a secured party
under the Uniform Commercial Code. ';)~";'i<i:i?.. ,'I,
"-:,""..,, ';'.. " i ,'"".;'-; . '. .:. ,,'"
Collect Rents. lender shall have the right, W!t~q.~tO!?tic~. toßrantoi, iotakep,ossession of the Propl¡!rty, inc!yding during the pendency of
foreclosure, whether judicial or non-judici¡¡I, an.dco)l¡¡çt;the Rents, including ,amounts,past due al1dunpaid, af)d apply the net proceeds, over
and above lender's costs, against th~ )n.é:teb.~~çJ!1~~s,lilnfurthèr¡lnèe <;if this ríght, lë!ldèrmây I~è¡Ùir~ 'allY tenant or other user of the
Property to make payments of rent or uàe fees,qirectly 'to Lender . If the Rents. are colleç.ted by Lender, then Grantor irrevocably designates
Lender as Grantor's attorney-in-fact to endorse'instr'Uments received in payment thereof in'thename of Grantor and to negotiate the same
and collect the proceeds. Payments by tenants"or otherusers to lenderin, response to Lender's demand shall satisfy the obligations for
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COÜ365
Page 4
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L:oan No: 764003352
MORTGAGE
(Cohtinued)
. - .' ."
., ".'.' ,...'
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which the payments are made, whether or not. any, proper grounds for the demand existed. .lendér may exercise its rights under this
subparagraph either in person, by agent, or through a receiver, ;.'
Appoint Receiver. Lender shall have the right to havé ,areceiver appointed to take possession of all or any part of the Property, with the
power to protect and preserve the Property; .to operl!tf;l the Property preceding foreclosure or sale, and to collect the Rents from the
Property and apply the proceeds, over and ahov~thec()st of the receivership, against the Indeþtedness. The receiver may serve without
bond if permitted by law. Lender's right to U)e appójntment of a receiver shall exis't whether or not the apparent value of the Property
exceeds the Indebtedness by a substantial amount,Employmf;lnt by l.E nder~shall not disqualify a person from serving as a receiver,
.' .' ::;_" ',: _"'" '- .' .,;'_,..-,;"f._ ",", :-"-", ,",' .,,_.'' : .,' .
Judicial Foreclosure. Lender may obtain a, judiç!ål decree fore.ctosirìg Çìr~nt~r'~ ínterestin, all or any part of the Property.
Nonjudicial Sale. Lender may forecloseGr~ntÇ>f,:¿;¡~t~re'~t,in all~r'inanŸ part' of the'PrÓpertYbyn'on-j~dicl~i~ale, and specifically by "power
of sale" or "advertisement and sale"fo~e.closl/rè:as,provided by statute. . .. .
""".,. ,: . ", , -,',,' :'. ,:-' "
Deficiency Judgment. If permitted by aþþiical:Íie'làw, Lender måy obtain ajûdgmehtfor any defiéié"cy remaining in the Indebtedness due
to Lender after application of all amounts Í'èce:i~é'd frOrf¡the exercise of the rights' pr~·v·ide( inthis'.s,ectiòri.·· .
Tenancy at Sufferance. If Grantor rem~ins in'possession of the Property after the Prbperty is sold as provided above or Lender otherwise
becomes entitled to possession of the Proper~yupondefault of Grantor, ßrantorshall become,a,temint at sufferance of Lender or the
purchaser of the Property and shall, at Lender's' option, either (1) pay a reasonable rentaLfortheuse of the Property, or (2) vacate the
Property immediately upon the demand of Lender.:
Other Remedies. Lender shall have all other right>~and· remed¡e~· p¡'o~idedirithis Mortgå~eor th~,'¢re'dlt AQreemerit or available at Jawor 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, LelJd.er~hall be,free to sell all or any part of .the. Property together or separately, in one sale or by
separate sales. Lender shall be entitle~ to,bidatany ,public sale on all or any portion of the Property.
Notice of Sale. Lender will give Grantor/\!as8h¡ibl~ 'iïotice of the time andplaée of'äÍ1ypublic ¿ale' 01 the· Person!!1 Property or of the time
after which any private sale or other intèndéâ "disposition of the Personal Property is to be made: Reas'onableÎ1otiÒe shall mean notice
given at least ten:(1 0) 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'sr!èl:Ìts~p'n~ rel'{ledi~s ~ill bè,'(;Ùmula~i¡'eand ,rtia'y þ~;exér,q¡~~~·aIOf\~.or:together. An election by
Lender to choose anyone remedy 'l)/jlll;o't þar Fenderfrom using any other remedy. If Lender 'decides· to' spend money or to perform any of
Grantor's obligations under this Mortgage','afÚir Grantor's failure to do so, that decision by Lender will 'not affect Lender's right to declare
Grantor in default and to exercise Lènder:sjemedie·s;. .'.. . . .
Attorneys' Fees; Expenses, If LendJ,r in~titut~s.:~ny, suit or I!ctiop to enforce any ~fthe;terms,of this MQrtgàge, Lender shall be entitled to
recover such sum as the court Ii:)¡¡y adjud~~ reas.0l'l,ab'e,as attorneÝ!I' fe\!sattrial aMuponany'appéal.'Wþether·or not any court action is
involved, and to the extent not prohibited.b'y laÍN,allrêàsonable expel}sesLenderincurs·thati.nLendèr's opinion are necessary at any time
for the protection of its interest or the eríforcément of its rights shall become a part of thelnC ebtednesspayable on demand and shall bear
interest at the Credit Agreement rate Jrom'thedate of.'the expenditure until repaid, Expenses covered by this paragraph include, without
limitation, however subject to any limits ùnde(applicélble law, Lf;lnder's reasonable attorneys' fees and Lender's legal expenses whether or
not there is a lawsuit, including reasonable attorneys' feesand~'xÞéÌ !lË¡s·f~r bankruptèy proceedings (including efforts to modify or vacate
any automatic stay or injunction), appeals,and any. anticipa,ted,.post:j~dgmènt colli:iction services,. the cost of searching records, obtaining
title reports (including foreclosure reports), surveyors' ,reports; and apÞraisal fees and title insurance, to the extent permitted by applicable
law, Grantor also will pay any courtçosts¡ in addition to all other sums provided by law.·
NOTICES. Any notice required to be given under this Mortgage, including withÖut limitatioh any notice 'of default and any notice of sale shall be
given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law). when
deposited with a nationally recognized overnight PQurier,. "or, i,f mí!!!ed,lII(hen deposited .i/')thf;l µnitep 5t1ltes. mail, as first class, certified or
registered mail postage prepaid, directed to tþe ad~r~¡¡s~~'i~~owri(1E\~phè begi~ning Of thi!ì lyIor1gäg:e,: þ'-!I Copies, of .notices of foreclosure from
the holder of any lien whic~ has priority over, thisl'v1prtgl!g~ s~all.. be sent toJf;lride~'~. addre~s, as .show!,\ '1ear the beginning of this Mortgage.
Any person may change his or her address, for notl¡;~s.,y.!l8er this Mortgage by glvlngforrllal, written nO~ICf;l. to. the, other person or persons,
specifying that the purpose of the notice is to chang~,the,per!!pn's address, Fornotice purP9s~s, Grantor ~grees to keep Lender informed at all
times of Grantor's current address, Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender
to any Grantor is deemed to be notice given to all Ghintors, Itwill'oe: Grimtor'sre'sponsibility'to tell the othtÚsof the notice from Lender.
; ,.:._ "'.'¡, i-,', . .. .' j : . , - , . : . .';. ..: ~.. .
MISCELLANEOUS PROVISIONS. The follow.ing:mi~¡;é.II~heÇlusprOvisi~ns are a part of this 'Mortgage: ..., ,::'
Amendments. What is written in this 'M~rtg¿~;(.{ard'il'l the Related Documents is Grantor's entireagr~ement with Lender concerning the
matters covered by this Mortgage. To ,be"effec~ivø', any change or amendmenttothis Mortgage'mu.sibe in writing and must be signed by
whoever will be bound or obligated by the'· change ór amendment. ' ,,"", '. :, ~.' .. '.'.'
Caption Headings. Caption headings in this Mortgàgeare for convenience purposes only anq arenottb be used to interpret or define the
provisions of this Mortgage. . ' ..... : ." ..... . '.. .. , . ... '..., " ,.. i "~ '. ..'
Governing Law. This Mortgage will~e govern:tid' by' fei:l,erallaw applicable 'to l:end~~ ~nd, 'to 'the extent'not preempted by federal law, the
laws of the State of Wyoming without regard tO,its c()nflicts of law, provisions. This Mortgage has been accepted by Lender in the State of
Wyoming. . , ., ,: :~ ", ..,.:." ,. '
Choice of Venue. If there is a lawsuit, GrantÖr 'agrees upon Lerider's request to submit to the jurisdiction of the courts of Lincoln County,
State of Wyoming.··i, .< ". . " ' ,
'c' . '., ' i',:_ ,> . c_ '" . . ~... _ :_,_ .' '.' .. " _',...., . .
No Waiver by Lender. Grantor understân~s Len~er VV,ill not giye,uP. any of, Lender's rightslJ\lderthís Mortgage unless Lender does so in
writing, The fact that Lender delays or oOlits,t() exercise any right will .not mean that Lender has'g,iven up that right. If Lender does agree
in writing to give up one of Lender's rights, that do~snot meim Grantor will not haile to'complywith the other provisions of this Mortgage.
Grantor also understands that if Lender does 'consent to a request, that does not mean that Grantor will riot have to get Lender's consent
again if the situation happens again. Grantor further understands that jyst because'Lender consents to one or'more of Grantor's requests,
that does not mean Lender will be required to consent to any of Grantor's future requests. ' GrantÖr waives presentment, demand for
payment, protest, and notice of dishonor:Gràntor waives all rights of exemption from e~e~l.Ition or similar law in the Property, and Grantor
agrees that the rights of Lender in the Property; under this Mortga.ge are prior to Grantor's rights';;hile this Mortgage remains in effect.
"'; -' , - ' ';' ~:. :-... : -,.... ~;! .;. .'. . . , . . ' " . ~ ' ','" .,' ': .'.. ., :'- . .. .'
Severability. If a court finds that anŸ pi(j'~!:;io~' of'this MO~tgage is not valid or should nO,t be enforced; thatfaèt by itself will not mean that
the rest of this Mortgage will not be valic\0r enforced, Therefore, a court will enforce the rest of the prOvisions of this Mortgage even if a
provision of this Mortgage may befÇlundtgbe}n.'.(ali~~rl/nenforseable. . . " . " "
. L' - , . . " : "', '~!'_ -', " ' ., . " . -' ;-: .. - . " .. ,'''. . . , . . . . ,_ ' it, . " ,," . . ' , . . ..
Merger. There shall be nomerQ(¡[ of,thei".fer,e~t<"ore!lté\te created by this Mortgage witþ anY9t~er interest or' estate in the Property at any
time held by or for the benefit of Lender' ihiany capacity;·without the written·.consent of tender.·· :'.... ....'..
Successors and Assigns. SUbjectt¿"a~ÇI¡(nit'~ti4k~'~t~teci in ihis Mortgage on transf~'r.¿f G¡'~ntor:siriterest,th¡s Mortgage shall be binding
upon and inure to the benefit of the parties, tflE;ir:·sucç¡¡~sors and as'signs.' If owrie'rsfii'p. of tfiePròperty bf;lcomes vested in a person other
than Grantor, Lender, without notic~,to:'.(3~'àntçr,:"rn~YA~al ,Vyi~h ßr~~to!i:Sucgessors~ijh.féferE!pë:etôihisty1ortgage and the Indebtedness
by way of forbearance or extensipn YV!~h.9.lIt rel~~.~i~g q,ran,tor.frQ~ ,the, obligations of thi~ f\19'~\Jage.or liabilityynder the Indebtedness.
Time is of the Essence. Time is of:the esirénce in the þérforíTÌa'nce'of this Mortgage.'i'.,~
, j.:-'...';.',..-.-:,::-....-:... " ._,"', - , ' : ,'"", . . .
Waiver of Homestead Exemption. Grantår'herëby ¡ë,ëåses and waives aU rights and benefits of the homestead exemption laws of the State
of Wyoming as to all Indebtedness secured by this Mottgåge. . " ",. . .¡"., ·1, '...,
DEFINITIONS, The following words shall have the ;¡~líOWi~'g rneilnings when used in this Mortgage: .. .
. ~ -, ,- ,':.- ", - ' ": .,..,. " , " - ' ': ~ " , ' ': ~ " I ' ." .". . . " . ¡ , '
Borrower. The word "Borrower" meansLlTT.~~.TQN¡'FAMILY.REy()CABLE,TflUST and, inclùde~ all co-signers and co-makers signing the
Credit Agreement and all their successors and aSsiM,s':, , . , ,. ." . . ~... .... .' .... .. .
Credit Agreement. The words "Credit Ag(~~'r;;~n~~wme~n the,crédit agr~ement 'dated January "7, 2006, with credit limit of
$ 75,000.00 from Grantor to Lendér, io'getQê(yV¡~~':all ieflewals, of, extensions .of, modi.fications of, r~financings of, consolidations of,
and substitutions for the promissory note or.,ágreement, NOTICE ;rOGRANTOR: THE CREDIT AGREEMENT. CONTAINS A VARIABLE
INTEREST RATE. " ,. ','" <. . ..' ,'.. .. '. ..'
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MORTGAGE'
(Cç>ntinued)
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COQ3,66
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loan No: 764003352
03lL54.23.
Page 5
;'_1 i:;\:
Environmental Laws. The words "Envirbnmen'taí ·~a~~~ m~arían'yand 'iill .state, fed~raf'andlôc~1 statiJtes, regulations and ordinances
relating to the protection of human health or the envirOnment/ìnclu'ding without limitation' 'thé Cõmprehensive Environmental Response,
Compensation, and Liability Act of 1980; as ''amendeö;' 42 U.S.C.Section 9601, et seq. ("CËRCLA"), the Superfund Amendments and
Reauthorization Act of 1986, Pub.L. No. 99-4S9("SARA"¡, t\1eHazardous Materials TransportationAct, 49 U.S.C. Section 1801, et seq.,
the Resource Conservation and Recovery Act, 42.. Û:S..ç. Se'ction '6901, et seq.,or other applicable state or federal laws, rules, or
regulations adopted pursuant thereto. .:. ,
..... ' 0" .... ,. ',.' _:. ,,;
Event of Default. The words "Event of Def¡¡ult""rnean any of theevel)ts of defaulf set'forthin this Mortgage in the events of default
section of this Mortgage. :~X···",·.. \:.:::;::'\::>;;'¡':'~""¡.'':''';',. ....,', "
. '_. '. ,,-",>.". ,!,,:'-:: .~.. ~ -'. . '_ .', .... . . '..: I, ' . .
Existing Indebtedness. The words "Existing·Jndebt~dness· mean the indebtedness described in the Existing Liens provision of this
Mortgage, ' ·:;:"~\i.: , . '.
Grantor. The word "Grantor" means LITTLETbN 'FAMIL 'y ÀE~OCABLlhRUST, '¡
'( ('t!" , .. ... . ' , '" ' J.
Hazardous Substances. The words "Hazard()~sS\Jbstances" mean materials that, because()f their quantity, concentration or physical,
chemical or infectious characteristics, may 'caüse . or pose a' present or potential ha'zard to' human health or the environment when
improperly used, treated, stored, disposed ot generated, manufactured, transported or. otherwise handled. The words "Hazardous
Substances" are used in their very broadest ,se'nseand include without limitation any and all hazardous. or toxic substances, materials or
waste as defined by or listed under the Environmental Làws. , The term "Hazardous Substances" also include's, without limitation, petroleum
and petroleum by-products or any fractionther~ö,f and asbestos. '. .
Improvements. The word "Improvements" me¡¡nš,all existing and 'future improvements, ,buildings, structures, mobile homes affixed on the
Real Property, facilities, additions, replaceinents afld ot.her constr:Jction on the Real P!~~ertx' '. ,: .. ..' .
Indebtedness. The word "Indebtedness" .me~hs :8,11. principal,. int~res~, . a':1d. ()ther amoynt~I·· COS\!i anØ e>,<pe~s¡¡s payable under the Credit
Agreement or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the
Credit Agreement or Related Documents à~d any'·affi.ounts expe'nded or advanced by Lender to disch.arge 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.Thewôrds"successors or assigns" mean
any person or company that acquiresanyir'\ter~~tinthe Credit Agreement. , .'.:' ,. .:. ;
Mortgage. The word "Mortgage" means ,this MÓrtgagebetween Gran10r and Lender.
Personal Property. The words "Personal Property" mean ali equipment.fjxtu·r~s, and Óther articles"òfpersónal property now or hereafter
owned by Grantor. and now or hereafterattaêhed or affixed to the Real Property; together iNítháU'aècessions, parts, and additions to, all
replacements of, and aU substitutions for; 'any',öf s~c.h prope~ty;ànéf together with aUpro'ceed~:(i~clüdingwithoüt limitation all insurance
proceeds and refunds of premiums) fro(11: 'ary $:?,Ie"or Qtl1er díspos,ition'Òf t~e Property:' .-', . .... :'" \. . .
Property. The word "Property· means collectively the Real Property and the Persomil P'r.ÒpEiÍ'ty; , "!
Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Mortgage.
Related Documents. The words "Related, Doc:urr¡ents" mean all promissory notes, credit agreèrrients,loan agreements, environmental
agreements, guaranties, security agreem~rits;. mortgages, deèds; ô1.!rùs\, 'security deeds,: collateral lÌiortgages, and aU other instruments,
agreements and documents, whether now or here'after existing, ~x.ecuted,in connection yvith the Indebtedness.
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Rents. The word "Rents" means all present ~'nd)LJtui~ rents, reven,ues, income,issu~s, roya,lties,p·ro.fits, and other benefits derived from
the Property. ' . ;, . . ... . ' ,
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GRANTOR ACKNOWLEDGES HAVING READA.LL T8É .rR('lVI~ION$ ø¡: TJiI~MpRTGAßE, AND':G~Ä~..irQR AGREES' TO ITS TERMS.
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GRANTOR;
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By;
BRIAN W LITTL . Trustee of
FAMIL Y REVOCABLE TRUST·,;:;;
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tRuST-ACKNOWLEDGMENT
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STATE OF 't..J¡~ i-;,' :SS
COUNTY OF ~~ .J. -' .,
On this /7..,......... day of . . .:. ,2C) tJ4,;. before ~è; the u~dersigned Notary Public, personally
appeared BRI~N W LITTLETON, Trustee ITTLETON, Trustee of LITTLETON FAMILY REVOCABLE TRUST, and known to me
to be authorized trustees or agents of th trust that, executed the Mortgage andacknowledgeq the· Mortgage to be the free and voluntary act
and deed of the trust, by authority set forth in the trùst dbcumentsor, by aUthority of statute.. forthe,lisesand purposes therein mentioned, and
on oath e that they are authorize to executet~is Mortgage a!1d in filet execùted the MOrtgag¡¡oQbehalfofthe trl)st. .
By . , ResIding ,~t,,«~,,¿'
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C00367
091L5423
JttBI.BIT "A"
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The land referred to in this commi1rnent is situated in the State of Wyoming, County of Linco]n, and is
described as follows:
A portion of the ~~ of Section 24, T36N R119W of the 6th P.M" Lincoln
County, Wyoming, being more particularly described as follows:
BEGINNING at the North Center 1/16 corner of said Section 2 4, and
running S 89°29'32.' W, along the South line of said N~~, 601.68 feet;
thence North, 1308.11 feet to a point in the North line of said
Section 24;
thQnce East, along last said North line, 607.36 feet to the North
~ corner of said Section 24;
thence continuing along last said Nort;h line N 83°46'58" E, 1320,43
feet to the East 1/16 corner in said North line;
thence S 0°13'25» W, 518,60 feet;
thence S 71°56' W, 559.89 feet;
thence S 94Q53' W, G14.29 feet;
thence 5 0°13'25" W, 68B.62 fee~:
thence 5 86°34'30" W, 169.83 feet to the POINT OF BEGINNING,
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