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HomeMy WebLinkAbout915436 '.- C00389 ~ , .. RECEIVED 1/2412006 Bt2:23 PM RECEIVING # 915436 BOOK: 610 PAGE: 389 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Spacß Above This .Line for Recording Data MORTGAGE (With future Advancß Clausß) DATE AND PARTIES, The datß of this Mortgage (Security Instrumßnt) is Decßmber 6,2005. The partißs and thßir addmssßs am: MORTGAGOR: .lESS MEEKER husband 130 Tulsa AVßnuß .laBarge, Wyoming 83123 1(ç IV MELISSA MEEKER wifß 130 Tulsa AVßnuß LaBargß, Wyoming 83123 lENDER: FIRST NATJOf'JAL BANK OF PINEDALE Organized and ßxisting under the laws of Wyoming P.O. Box 519 61 E. Pine Strßet Pinedale, Wyoming 82941 1, CONVEYANCE. for good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secum the Secured Debts and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to .Lender, with the powßr of sale, the iollowing described property: See Exhibit 'A' ß1tached herßto and made a part hemof; The property js located in .Lincoln County at ,.laBarge, Wyoming 83123. Together with all rights, €asements, appurtenances, royalties, mineral rights, oil .and gas rights, .all water and riparian rights, w€lIs, ditches and water stock .and all €xisting and future improvements, structures, iixtures,.and mplacements that may now,· or at any time in the iutum, be part of the mal €state described (all referred to .as Property). This Security Instrument will mmain in ßffect until the Secumd Debts and ßII underlying .agreements have been terminated in writing by .L€nder. 2. MAXIMUM OBUGATION .LIMIT, The total principal amount secur€d by this Security Instrument at anyone time will not€xc€ed $135,482.00. This limitation of amount does not include interßst and other fees and charges v.alidly maåe pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the tßrms of this 'Security Instrument to protect .L€nder's security and to perform any of the covenants contained in this Security Instrument. 3. SECURED DEBTS. The term "Secured Debts" includesßnd this Security Instrument will secure ßach of the iollowing: A. Specific Debts, The iollowing .debts and all €xtensions, mnewals, refinancings, modifications .and r€placements. A promissory note or other agr€ement, No. 110064201, dated December 6, .2005, irom Jess T. Meekßr (BoTTow€r) to l.ßnder, with a loan amount of $135,4B2,OO and maturing on December 6, .2006. One or mor€ of the .debts secur€d by this Security Instrument contains .a future .advancß provision. B, Sums Advanced, All sums advanced and €xpenses incurred by .L€nder under the terms of this Security InstrumBnt. 4. PAYMENTS. Mortgagor .agr€es that all payments under the Secur€d Debts will be paid when .due and in accordancß with the tßrms of .the Secured Debts .and this Security Instrument. ..Jess T. Meeker Wyoming MOrtga! 8 WY I4AdministO09371000051B7055011306Y InitialhJ~ Eage 1 ~ ... l . . O~iJ1.5436 5. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Mortgagor agrees: A, To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C, Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without .Lender's prior written consent. ¡¡;~~;~;~*ft~~¡t~j 6. C.LAIMS AGAINST TITLE, Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. .Lender may require Mortgagor to provide to .Lender copies of all notices that such amounts are due and the receipts .evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Mortgagor agrees to assign to .Lender, as requested by .Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 7. DUE ON SALE DR ENCUMBRANCE. .Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. g, WARRANTIES AND REPRESENTATIONS, Mortgagor has the right and authority to enter into this Security Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing Mortgagor or to which Mortgagor is a party, 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor will not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without .Lender's prior written consent, Mortgagor will notify .Lender of all demands, proceedings, claims, and actions against Mortgagor, and of any loss or damage to the Property. .Lender or .Lender's agents may, at .Lender's option, enter the Property at any reasonable time for ihe purpose of inspecting the Property. .Lender will give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property will be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 10, AUTHORITY TO PERFORM, If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, .Lender may, without notice, perform or cause them to be performed. Mortgagor appoints .Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. .Lender's right to perform for Mortgagor will not create an obligation to perform, and .Lender's failure to perform will not preclude .Lender from exercising any of .Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, .Lender may take all steps necessary to protect .Lender's security interest in the Property, including completion of the construction. 11, DEFAULT, Mortgagor will be in default if any of the following occur: A, Payments, Mortgagor or Borrower fail to make a payment in full when due. B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against Mortgagor, Borrower, or any co-signer, endorser, surety or guarantor of this Security Instrument or any other obligations Borrower has with l.ender. C, Death or Incompetency, Mortgagor dies or is declared legally incompetent. D, Fltilure 10 Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this Security Instrument. £. Other Documents, A default occurs under the terms of any other document relating to the Secured Debts. F, Other Agreements, Mortgagor is in default on any other debt or agreement Mortgagor has with Lender. G, Misrepresentation, Mortgagor makes any verbal or written statement or provides any financial information that is untrue, inaccurate, or conceals a material fact at the time it is made or provided. H, Judgment, Mortgagor fails to satisfy or appeal any judgment against Mortgagor. I. Forfeiture. The Property is used in. a manner or for a purpose that th~eatens confiscation by a legal authority. J, Name Change. Mortgagor changes Mortgagor's name or assumes an additional name without notifying .Lender before making such a change. K. Property Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money or property. This condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the DUE ON SALE section. 1. Property Value, .Lender determines in good faith that the value of the Property has declined or is impaired. M. Insecurity, L.ender determines in good faith that a material adverse change has occurred in Borrower's financial condition from the conditions set forth in Borrower's most recent financial statement before the date of this Security Instrument or 1hat 1he prospect for payment or performance of the Secured Debts is impaired for any reason. 12. REMEDIES, On Dr after default, .L.ender may use any and all remedies Lender has under state or federal law or in any document relating to the Secured Debts, including, without limitation, the power 10 sell the Property. Any amounts advanced on Mortgagor's behalf will be immediately due and may be .added to 1he balance owing under .Jess T. Meeker Wyoming Mortgage WY I4Administ009371 000051 B705501130SY . , . Initials Page .. .."~ . ; ~. .' @1996BankersSystems, Inc.. St. J:loud, MN ~ ... ~ 05J25436 the Secured Deb1s, lender may make a claim for any and all insurance benefits or refunds that may be available on Mortgagor's default, Subject 10 any right to cure, required 1ime schedules or any other notice rights Mortgagor may have under federal and state law, .Lender may make all or any part of 1he amount owing by 1he terms of the Secured Deb1s immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a default or anytime thereafter, Upon any sale of the Property, .Lender will make and deliver a special or limited warranty deed that conveys 1he property sold 10 1he purchaser or purchasers. Under this special or limited warranty deed, .Lender will covenant that .Lender has not caused or allowed a lien or an encumbrance to burden the Property and that .Lender will specially warrant and defend the Property's title of 1he purchaser or purchasers at the sale against all lawful claims and demand of all persons claiming by, 1hrough or under .Lender, The recitals in any deed of conveyance will be prima facie evidence of 1he facts set forth therein. All remedies are distinct, cumulative and not exclusive, and the .Lender is entitled to all remedies prdvided at law or equity, whether or not expressly set forth. The acceptance by .Lender of any sum in payment or partial payment on 1he Secured Deb1s after 1he balance is due or is accelerated or after foreclosure proceedings are filed will not constitute a waiver of .Lender's right to require full and complete cure of any existing default. By not exercising any remedy, .Lender does not wa~.ve .Lender's right to later consider the event a default if it continues or happens again, C00391 13, CO.LLECTION EXPENSES AND ATTORNEYS' FEES, On or after Default, t01he extent permitted by law, Mortgagor agrees to pay all expenses of collection, enforcement or protectidn of lender's rights and remedies under 1his Security Instrument or any other document relating to the Secured Debts, Mortgagor agrees to pay expenses for .Lender to inspect and preserve the -Property and for any recordation cos1s of releasing 1he Property from this Security Instrument. Expenses include, but are not limited 10, reasonable attorneys' fees after default and referral to an attorney not a salaried employee of 1he .Lender. These expenses .are Due and payable immediately, If not paid immediately, these expenses will bear interest from the date of payment until paid in full at the highest interest rate in effect .as provided for in the terms of the Secured Deb1s, In addition, to the extent permitted by the United States Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees incurred by lender to protect .Lender's rights .and interes1s in connection with any bankruptcy proceedings initiated by or against Mortgagor. 14, ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES, As used in 1his section, (1) Environmental law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CER, C.LA 42 U.S,C, 9601 et seq,), fill other federal, state find local laws, regulations, ordinances, court orders, flttorney general opinions or interpretive letters concerning 1he public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means flny toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous 10 1he public health, safety, welfare or environment, The 1erm includes, without limitation, any substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance" under flny Environmental Law , Mortgagor represen1s, warran1s find flgrees 1hat: A. Except flS previously disclosed and flcknowledged in writing 10 lender, no Hazardous Substance is or will be locflted, stored or released on or in 1he Property, This restriction does not .apply 10 small quantities of Hazardous Substances that .are generally recognized to be flppropriate for 1he normal use and maintenance of 1he Property, B, Except as previously disclosed find .acknowledged in writing to .Lender, Mortgagor .and every tenant have been, fire, find will remain in full compliance with any flppliCBble Environmental law, C. Mortgagor will immediately notify .Lender if a release or threatened release of fI Hazardous Substance occurs on, under or about the Property or 1here is a violation of flny Environmental Law concerning 1he Property. In such fin event, Mortgagor will take .all necessary remedial fiction in flccordance with flny Environmental Law. D, Mortgagor will immediately notify lender in writing as soon flS Mortgagor has reason 10 believe 1here is any pending or 1hreatened investigation, claim, or proceeding relating to the release or 1hreatened release of any Hazardous Substance or the violation of flny Environmental Law , 15. CONDEMNATION, Mortgagor will give lender prompt notice of flny pending or threatened fiction by private or public entities 10 purchase or take .any or fill of 1he Property through condemnation, eminent .domain, or .any other means. Mortgagor fluthorizes .Lender 10 intervene in Mortgagor's name in any of the flbove described fictions or claims, Mortgagor flssigns 10 .Lender 1he proceeds of flnYflward or claim for damages connected with fI condemnation or other taking of fill or flny part of 1he -Property, .such proceeds will be considered payments find will be .applied flS provided in this Security Instrument. This flssignment of proceeds is subject to 1he terms of any prior mortgage, .deed of trust, security agreement or other Jien Document, 16. JNSURANCE. Mortgagor flgrees 10· keep 1he -Property insured flgainst 1he risks reasonably .associated with 1he -Property, Mortgagor will maintain this insurance in the flmoun1s lender requires, This insurance will last until1he Property is released from 1his Security Instrument, What .Lender requires pursuant 10 1he preceding two sentences can change During the term of 1he Secured Deb1s. Mortgagor may choose 1he insurance company, subject to .Lender's .approval, which will not be unreasonably withheld, All insurance policies find renewals will include .a standard "mortgage clause" find, where flpplicable, "loss payee clause," Mortgagor will give LendeTflnd the insurance company immediate notice of flny loss, All insurance proceeds will be flpplied 10 restoration or repair of the Property or to 1he Secured Deb1s, fit Lender's option. If .Lender acquires 1he Property in damaged condition, Mortgagdr's righ1s to .any insurance policies find proceeds will pass 10 .Lender 10 1he extent of 1he Secured Debts. Mortgagor will immediately notify lender of cancellation or 1ermination of insurance. If Mortgagor fails 10 keep 1he Property insured, .Lender may obtain insurance 10 protect .Lender's interest in the Property find Mortgagor will pay for 1he insurance on Lender's demand, Lender may demand 1hat Mortgagor pay for 1he insurance fill at once, or ..Jess ì. Meeker Wyomin.g .Mo~ge WY /4AdministDœ2S1 00004975055120205Y ~,..'.",:;.::::::,:) ,,-;,,~,<,.':::¡,:,:;":---:) C199SBa~!',t;~~,~~ms. Inc., St. Cloud, MN ~ ~:;¡:¡::::*::!:;;::::~ -~I~~~':-~':WI ,."';. Initials 7JTr-¡ ~~ P.ege 3 ~ f ~;f:' \' ~': ,T:: :~:~~~~: . :\':~š:TIm~N:~"~ {j:S~::a~36 ·.·.·.·.:1,~M:.·.. C O\J~:r~:r2 .lender may add the insurance premiums to the balance of the Secured Debts and charge interest on it at the rate that applies to the Secured Debts. This insurance may include coverages not originally required of Mortgagor, may be written by a company other than one Mortgagor would choose, and may be written at a higher rate than Mortgagor could obtain if Mortgagor purchased the insurance. Mortgagor acknowledges and agrees that .Lender or one of lender's affiliates may receive commissions on the purchase of this insurance, 17. ESCROW FOR TAXES AND JNSURANCE, Mortgagor will not be required to pay to .lender iunds for taxes and insurance in escrow, 18. CO-SIGNERS. If Mortgagor signs this Security Instrument but is not otherwise obligated to pay the Secured Debts, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debts and Mortgagor does not agree by signing this Security Instrument to be personally liable on the Secured Debts. If this Security Instrument secures a guaranty between .lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent .Lender irom bringing any action or claim against Mortgagor or any party indebted under the obligation, These rights may include, but .are not limited 10, .any anti-deficiency or one-action Jaws, 19, WAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating to the Property, 20. OTHER TERMS, The iollowing are.applicable to this Security Instrument: A. Construction .Loan, This Security Instrument secures an obligation created ior 1he construction of .an improvement on 1he Property, 21. APPLICABLE LAW. This Security Jnstrument is !Jovemed by "the laws of Wyoming, except to "the extent otherwise required by "the laws of the jurisdiction where "the Property is located, and "the United States of America. 22, JOINT AND INDIVJDUAL LIABilITY AND SUCCESSORS. Each Mortgagor's obligations under this Security Instrument Bre independent of "the obligations of Bny other Mortgagor. .lender may sue -eBch Mortgagor individually or together with any other Mortgagor. .lender may release .any part of the Property .and Mortgagor will still be obligated under this Security Instrument for the remaining Property. The duties .and benefits of this Security Instrument will bind and benefit the successors .and assigns of .lender .and Mortgagor, 23, AMENDMENT, JNTEGRATJON AND SEVERABILITY. This Security Instrument may not be amended or modified by oral agreement, No .amendment or modification of this Security Instrument is effective unless made in writing and executed by Mortgagor and .Lender. This Security Instrument :and :any other documents relating to the Secured Debts Bre the complete and iinal expression of the Bgreement. If any provision of this Security Instrument is unenforceable, 1hen the unenforceable provision will be severed Bnd "the remaining provisions will still be enforceable, 24, JNTERPRETATION, Whenever used, 1he singular includes "the plural .and "the plural includes the singular. The section headings Bre ior convenience Dnly Bnd are not to be used to interpret or define 1he "terms of this Security Instrument, 25, NOTICE, FINANCIAL REPORTS, ADDITIONAL DOCUMEf\'TS AND RECORDJNG TAXES, Unless otherwise required by Jaw, any notice will be given by delivering it or mailing it by iirst class mail "to the .appropriate party's address listed in the DATE AND PARTIES section, or "to :any other address designated in writing. Notice to one Mortgagor will be deemed to be notice to :all Mortgagors. Mortgagor will inform .Lender in writing of any change in Mortgagor's name, :address or other :application information, Mortgagor will provide .Lender any iinancial statements or information .lender requests, All financial statements and information Mortgagor gives .Lender will be correct and complete. Mortgagor .agrees "to pay all expenses, charges and TIlxes in connection with "the preparation and recording of this Security Instrument. Mortgagor agrees "to sign, deliver, and iile any additional documents or certifications that .Lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under "this Security Instrument :and 10 confirm .lender's lien status on any Property, and Mortgagor .agrees to pay all -expenses, charges .and 1axes in connection with "the preparation and recording thereof. Time is of "the -essence, SIGNATURES. By signing, Mortgagor agrees 10 the 1erms and covenants contained in "this Security Instrument. Mortgagor also acknowledges receipt of.a copy of "this Security Instrument, MORTGAGOR: J~M~ Individually . (fI LA. MeJisstvMeeker Individually ¡~L--- .LENDER: (Attest) ~T. Meeker Wyoming Mortaall8 WY J4AdministO09261 00004975055 120205Y =1996 Bankers Systems, Inc.. St. CIOJJd, MN ~u Initials P.age4 !ii.. '." ~ /' -. / -, ~ û:9JlS436 ACKNOWLEDGMENT. (lndiv~~. '/J ff~ OF , L 'fv/--4~ This instrument was a nowle ed before- ~ ~ _ Jess Meeker, husband, and Melissa Meeker, wife. My commission expires: My Commission Expires March 2, 2006 OF~t)SS' ? day at L 'Þ'¿(?~ . ~'~a~d ( tary· ic) This instrument ::. a nowle ed b:tor~~-:J ? ,~;;~) Kenneth E. Transtrum as Vice President of First National Bank of Pinedale, My commission expires:. ~~cf{" dd Jess T. Meeker Wyoming Mortgage WYl4Administ00926100004975055120205Y C1996 Bankers Systems, Inc., St. Cloud, MN ~ ~!:!:::i:::f::~ji¡::;~ '¡""I1í"~'~j~~,... ,,:'·:,I~.... . ·~~<fti:!II! C00393 ó2¿JtJ~ , d¿JO-.r by by Initials Page 5 .. :>{i: ,~ coo 39 4 OSJ1L5436 JESS :MEEKER :MELISSA MEEKER Legal Description That part of the NE~~ of Section 7, T26N Rl12W of the 6th P.M., within the incorporated limits of the Town of LaBarge, Lincoln County, Wyoming being part of Lot 4 of the vacated Marx Addition to said Town of LaBarge of record in the Office of the Clerk of Lincoln County as Plat No. 201 and part of that tract of record in said Office in Book 331PR on page 350, described as follows: COMMENCING at the northwest corner of said NE~~ found as described in the Corner Record filed in said Office; thence S 00°04' W, 260.8 feet to a bathey¡ thence S 05°07' W, the base bearing for this survey, 91.4 feet to the northwest corner of that tract of record in said Office in Book 411PR on page 925 marked by a bathey¡ thence N 86°55.5' E, 477.23 feet along the north line of said tract to its northeast corner¡ thence S 23°56' E, 177.00 feet along the east line of said tract to the POINT OF BEGINNING; thence N 66°07' E, 117,10 feet to a point; thence S 23°51' E, 100 feet to a point on the north line of Tulsa Avenue, S 69°09' W, 5.00 feet from the" southwest corner of Lot 1 of Block 2 of the Amended Plat of Red Bluff Addition Phase I to the Town of LaBarge of record in said Office as Plat No. 321B¡ thence S 66°09' W, 120.00 feet along said north line to a surv-kap at a corner of Tulsa Avenue; ~ thence N 21°12' W, 64.55 feet to the southeast corner of said tract of record in Book 411; thence N 23°56' W, 35.45 feet along the east line of said tract to the POINT OF BEGINNING. ~ ]'r;j~.·qr ~!,.-., .Jlh:! '.! ·-I,'1n':