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Home My WebLink About915450 ~Ìic\f,';{~ j:!~:,:,~,,:,. C00413 £D RECORDATION REQUESTED BY: FIRST NATIONAL BANK - WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine, WY 83128 "-','.-':', U~S'J10l ~:!-"-'H l:~':: ::i:t.\ c", '¡,IÎ;¡Î'\ :/\.,'11 :..i¡J..:.'..;;' li: . '.: :~,.; ":\ ::~vr~ .lC~:.\:· .' ' . 1"'.-'.'_!~ .,.,''',-,'.j..: -,... ! "\~ :·>('::I",:·:.~,···,,·t:" ~;,~.,.. j1~- ;-~. í"'~;~'I¡'1 (,,·:·!(:.::,T'~;: ;-" " '-"""'l :'~'j';'¿¡~~¿i'!::::Jtc'~";"'J:':'¡' ;,!>;::'JÚ(Gc"¡¿G,¡ '!O !:J.·¡,'!¡l,\·,,[)oqì-. ~'¡ U!j',O:"': ..' WHENRECORDED'MAIL'TO: FIRST NATIONAL BANK'· WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine, WY 83128 . .: ,¡ ì....: q',"JiU()!:::'.I· tl L I ; t.~. (i RECEIVED 1125/;006 at 10:57 AM RECEIVING # 915450 BOOK: 610 PAGE: 413 JEANNE WAGNER LERK KEMMERER. WY LINCOLN couNTY c, " ' '1 :"';:- .-:. t ~ ('- : ~:=:'Öt .:::i'¡f1r'!.;~~ -::'j;;o;¡; ,.,:;'J.:I~_(_~ "1 f)! ".\ 1'.~Jr.HJ)fl.C;IIWI'~-·:~· ,....\ \: L'. .,',." . ¡ ~ .. SEND TAX NOTICES TO: FIRST NATIONAL BANK· WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine, WY 83128 ¡".,-,-'! .r'! '--': SPACE ABOVE THIS LINE IS FOR RECOROER'S USE ONLY "'H; i..¡' P!" f:"·'· I,'''' ~.' .J . .~.. ;¡,\~,' ::'Hf~ j. I. I; , MORTGAGE i.:.ìf-i...,·" .¡'..... t) ." . , MAXIMUM LIEN. The lien of this Mortgage shall not exceèd ,at .anyone time $23,000.00. THIS MORTGAGE dated January 18, 2006, is made. and executed between CYNTHIA BAR8ER, AN UNMARRIED WOMAN (referred to below as "Grantor") and FIRST NATIONAL BANK - WEST, whostJ address is 100 Greys River Rd., P.O, Box 3110, Alpine, WY 83128 (referred to below as "Lender"). GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys·to lender all of Grantor's right, title, and interest in and to the following described real property, together with ,all ,existing ,or subsequently· erected· or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances;all,wateri,water'rights¡,watercourses and ditch' rights (including stock in utilities with ditch or irrigation ,rights); and all other rights; royalties, and,~protits' relatinq to·the-real'propertY¡including without'limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property;') 10catedm.LINCOLN,County; State of Wyoming:: LOTS 617C OF LAKEVIEW ESTATES,:,IINCORPORA'T1:b; TRA;ctS'A-F: i Üi\îêÒLN' ¡êOUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREROF. " The Real Property or its address iscomm'oriIYkn'ôw'rhilS""16S'ÄÜ'jINÈlJDRIVË,!oÂlPïNi:';'\Ny'c83128~';;' REVOLVING LINE OF CREDIT. This Mortgage ~ecu're~the'lnd~bt~dn'òs~'hl'~lud¡~'g;'~jthout limitatio!1,Bre.volving,Jine ,of, credit, which obligates lender to make Bdvances to Grantor so long' as G"äntÓr:' co'mplies ; ~itti ~il' th~ t~r'~s: of the Credit Agreement. '-s'uèli' 'Bdvances may be made, repaid, Bnd remade from time to time, subject to the limitation that the total outstanding balance owing at anyone time, not including finance charges on such balance Bt a fixed or variable rate or sum as provided in the Credit· Agreement, any temporary 'overages, other charges, and any Bmounts expended or advanced BS provided in either the Indebtedness paragraph or .this paragraph, shall not exceed the Credit Limit as provided in the Credit Agreement. It is the intention of Grantor and lender that this Mortgage secures the balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit BS provided in the Credit'Agreement and any intermediate balance, 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 (AI PAYMENT OF THE INOEBTEDNESS ANO (ßI PERFORMANCE OF EACH OF ,GRANTOR'S AGREEMENTS AND OBLIGATIONS UNOER THE CREOIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPT.ED ON THE FOllOWING TERMS: ' PA YMENT ANO 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 perform all of Grantor's,oþligations .under this Mortgage. . . _..,' " ; ',_ . ", - I. '. ..., ""'_'..":' POSSESSION ANO MAINTENANCE OF THE PROPERTY. 'Grantor agrees that ,Grantor's possession and useofothe' Property shall be governed by the following provisions: ,'. .,:\. ¡':,J, '....,.,:,.. ..:.',' .. ''jJ",).. Possession Bnd Use, Until the occurren,ceof~r',-\Õ~~rjt::¡;t'r;>E!iauìt;! Þ:r.¡i~t~r~âŸ:: Ùl, ;rel;n·airi:i~.l?osse~si~~:!lJd'¡ è;6n~r~l;of the Property; (2) use, operate or manage the Property: and (31 collect the 'Rents from1:he Property.' ." '. . ' .. . Duty to Maintain. Grantor shall maintain the Ptop~ri:y;i~9'~oèf conçliti~~':li~d' ~tÓ'mptl~p~rf~r;'¡';i:aiì 'rk~air~;' repl~c~;:;'ents, and maintenance necessary to preserve its value, '. I """_:r.!."-!,' .. ' , . . . .-" r" .~~ -~'~~~'~'-.:.,.. ~~ ,')\ ...,. I 4~"'-" ~ ~ .'''''.''-'. ~ ..--,- '"."_' ,- ·'\,,·~·~f1··""'··- ',":.; t·:...···... ..~.,' . _ . Compliance With Environmental laws. Grantor . Fepresents ànd warrants to' 'Len'derthat: (1)' During the period of Grantor's ownership of 1he Property, 1here has been no use, generation, manufactur.e,storage; treatmerTt,- disposal, release or threatened release of any Hazardous Substance by any person on,under".aoout or,;from¡',tbe, Property; [;(2) cGrantor' has no knowledge of, or· reason to believe that there has been, except BS 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, dispo$al, release or threatened release of anYl:iazardous 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) Exc.ept as previously disclQsed to and àcknowledgedby lender in writing, la) neither Grantor nor any tenant, contractor, Bgent or other authorized I,Iser öf the Property shall. use".generate, man!-lfacture, store, treat, dispose of or release any Hazardous Substance on, under,' about or from the' Property;ánéf (þ)a'ny 'such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations 'and urdiminces, including without limitation all Environmental laws. Grantor authorizes lender and its Bgents to enter upo,?thep'r()perty to make such inspections and tests, at <;Jrantor's expense, as lender may deem, appropriate to determine compliance of the Property with thi~sectionpfthe Mortgage. Any inspectipns or tests made by lender shall be for lender's purposes only and shall not be construed to create any responsibility or I(abiiity on the part of lender to Grantor or to any other person. The representations and warranties contained herein are ;;.based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor hereby (1) release's and Waiv8!\ à'nýf\Jfüre ciaimf¡ against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any such lavi,s; and ,i2) agrees to indemnify and hold harmless lender against any and all claims, losses, liabilities, damages', penalties'; and expenses which lender'may directly or indirectly sustain or suffer resulting from a breach of this section of the Mortgage 'or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened .release occurring prior to Grantor',s:qwnership or .interest in the Property, whether or ;not the same was or should have been known to Grantor. The provisions of this section of the Mortgage,' including the obligation to indemnify, shall survive the payment of the Indebtedness Bnd the satisfaction and reconveyanèe ,of the lien of this' Mortgage and shall not be affected by lender's acquisition of any interest in the Property, whether by foreclosur';! or'otherwise, Nuisance, Waste, Grantor shall not cause,' c~']duc:;{~r permit ~ny ;nui~ance nor commit, per~it, or suffer any stripping of orwaste on or to the Property or any portion of the Property. Without. limiting the gener.ality of the foregoing, Grantor will not remove, or grant to any other party the right to remove, any timber, mineJals(i,ncludi~g oil al)O ,gas). ,coal, clay, scoria, soil,gravel or rock products without Lender's prior written consent. ",j" Removal of Improvements. Grantor shall not demolish. or remov'3 any Improvements from :the. Real Property without lender's prior written consent. As a condition to the removal of any,lrt'aprovel]"lents, Lender may require Grantorto, make',arrangements satisfactory to Lender to replace such Improvements with Improvementsof.at least equal value, " lender's Right to Enter. lender "and Lender's .a~e(1ts ,and .representatives may,enter ,µpoflthe 'Real ProPE!rty ,at ail reasonable times to attend to lender's interests Bnd to inspect t~e Real Property'~orpurposes of Gra,:tor'~ compliance with t~e term~ and conditions of this Mortgage. Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereaher ì;:;:':;~:;:;;~¡;¡:;;;¡ :;:;;: :::::::::i::;:: ;;~ 1 ~4!/~' ."C~l1 Ç/~SO 'U.J¿J¡Lfr, Loan No: 764003360 MORTGAGE (Continued') t, f) n4,l' 4 '.' V \.. Page 2 in effect, of all governmental authorities applicåbleto 1he use or occupancy'of the Property',' Grantor may contest in good faith any such Jaw, ordinance, or regulation and withhold complial)ce'dudng any proceeding, including appropriate appeals, so long as Grantor has notified lender in writing prior to doing so and so longas,in:lender's sole opjnion"lender's interests in the Property are not jeopardized. lender may require Grantor to post adequate security or asurew bond, reasonably satisfactory to lender, to protect lender's interest. Duty to Protect. Grantor agrees neither to abando'ri or leave unatt~nded the P;operty. Grantor shali do all other acts, in addition to those acts set forth above in this section, which from the 'character and use of the Property are reasonably necessary to protect and preserve the ~~~, '. " DUE ON SALE - CONSENT BY lENOER.lender may; at l~nder:s option; declare' imniediately due and p~yable all sums secured by this Mortgage upon the sale or transfer, without lender's prior written consent, of all or any part of the, Real Property, or any interest in the Real Property. A "sale or transfer" means the conveyance:of'Real Property or any right, title or interest in the Real Property; whether legal, beneficial or equitable: whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, 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 such exercise is prohibited by federal law or by Wyoming law; TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part 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 fil,ed as a result of nonpayment, Grantor shall within fifteen (15) days aher the lien arises or, if a lien is filed, within fiheen (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 and, reasonable attorneys' fees, or other charges that could accrue as a result of a foreclosure' or sale under the lien, In a(1Y 'col)test, Grantor shall defend itself and Lender and shall satisfy any Bdverse judgment before enforcement, against the Property, ¡3rantor shall name lender ,a~ an additional obligee under any surety bond furnished in the contest proceedings" ' , " . " Evidence of Payment. Grantor shall upon demand furnish to lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to lender at any time a written statement of the taxes and assessments against the Property. ' . , . . Notice of Construction. Grantor shall notify lender at le'ast fifteen (15) days before any 'work is commenced, any services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work, services, or materials, Grantor will upon request of Lender furnish to Lender advance 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 all Improvements on the Real Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Policies shall be written by such insurance companies and in such form as may be reasonably acceptable'to lender. ' Grantor shall deliverto 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 bé impaired in any way by any act, omission or default of Grantor or any other person. Should the Real Property be located in an area designated by the Director of the FederalEmergency Management Agency as a special flood hazard Brea, Grantor agrees to obtain and maintain Federal Flood losur,élnCe, if available, for the maximum amount of your credit line and the full unpaid principal balance of, any, prior liens on 1he property, sécuring the lcian,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 the term of the loan. . ' " - -"., ¡ Application of Proceeds. Grantor shall promptlý notify Lender of any loss or damage to the Property if the, estimated cost of repair or replacement exceeds $' ,000,00. Lender may make proof of loss if Grantor fails to do so within fiheen!' 5) days of the casualty. Whether or not Lender's security is impaired, Lender may'- at Lender's election, receive arid retain'ttie 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 shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender, Lender shall, upon satisfactory proof of suc,h expenditure, payor reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default under' this Mortgage. Any proceeds which have not been disbursed within 180 days aher their receipt and which lender has not committed to the repair or restoration' of the Property shall be used first to pay Bny 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 proceeds aher payment in full of the Indebtèdness, such proceeds shall be paid to Grantor BS Grantor's interests may appear. '. , , , " Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is in effect, compliance with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the insurance provisions under this Mortgage, to the extent compliance with the terms of this Mortgage would constitute a duplication of insurance requirement. If any proceeds from the insurance, become payable on loss, the provisions in this Mortgage for division of proceeds shall Bpply 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, security interests, encumbrances, and other claims, (BI 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 m'ay,do so., If any action or proceeding is commenced that would materially affect lender'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 appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will 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; (81 be added to the, balance of the Credit Agreement and be Bpportioned among and be payable with any installlTlen(payments to become due, during either P) the term of any applicable insurance policy: or (2) the remaining term of the Credit Agreement; or rc) be treated as a balloon payment which will be due and payable at the Credit Agreement's maturity. ìhe Mortgage also will secure payment of thesè amounts: The rights provided for in this paragraph shall be in addition to any other rights or Bny remedies to which Lender may be entitled on account of any default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have had. WARRANTY; DEFENSE OFTIT.LE. The following provisions relating to ownership of the Property are a part of this Mortgage: Title. Grantor warrants that: (a) Grantor holds good and marketable title of record to the Property in fee simple, free and clear of all liens Bnd encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Mortgage, and (bl Grantor has the full right, power, and authority to execute and deliver this Mortgage to lender, Defense of Title. Subject to the exception in the paragraph ab~vé, Grantor ..:varrants and will for~ver defend the title to the Property against the lawful claims of all persons, In the event anyac,tio¡:¡ or propeedir¡gjs comme,nced that qu~stions ,Grantor's title or the interest of Lender under this Mortgage, Grantor shall defend: th~ action: at ,Grar¡t(jr,'s f,>\per¡se.,ßrantor maYb,etpe ,nomif.1al party in such proceeding, but .Lender shall be entitled to participate in the Pfç¡ceeding and to be repre,sentec!in th~ proc,eedi.r¡gb.v counsel ,of lender's own choice, and Grantor will deliver, or cause to be delivered~, to, Lender such instrúmentsas, lender may request from time to time to permit such participation, " , .' ' , , , Compliance With Laws. Grantor warrants that the Pr.operty and Grantor's use of the Property complies with all existing applicBble laws, ordinances, and regulations of governmentàl authorities, ' Survival of Promises. All promises, agreements, and statements Grantor has made in this Mortgage shall survive the execution and delivery -',1 OQ"'Il 5' ,Ailc'O' ...:iI~ "i:Ÿ " ',.' .. i... Loan No: 764003360 C00415 Page 3 .. '.:.' , of this Mortgage, shall be continuing in nature and shali remaíri i.n full force arid effect until s'ucti'time as Grantor's Indebtedness is paid in full. <,', ,',' , " , EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedne::;s are a part of this Mortgage: Existing Lien, The lien of this Mortgage securirigthè' indebtedness may be secondary and inferior to an existing lien. Grantor expressly covenants and agrees to pay, or see to the payn:tent of,. the Existìnglndebtedness.and, to prevent any default on such indebtedness, any default under the instruments evidencing such ¡ndeb~edness, or any d,E!faultunder any sE!çurity,döcuments fOfSuch indebtedness. No Modification. Grantor shall not enter'into'any,Îj:greeme'nt' v:.:ith'~th~~~;lder' of an'¡'mortgage,déedoftrus( or òther security agreement which has priority over this Mortgage by which,that:'¡¡greement is modified, amended, extended, orrénewed without the prior written consent of Lender, Grantor shall neither request nor accept any future advances under any such security agreement without the prior written consent of Lender. ',"~ ." '., .,; , ,', CONDEMNA TION. The following provisions relatin~ t6~()ridemnation proceedings are a p~r~ of this 'Mortgag~: Proceedings. If any proceeding in condemnation isfiled, Grantor shall promptly notify Lender in'wfiting, 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 represented in the proceeding by coùnsei óf 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 all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may at its election re'quire that all or any portion of the net proceeds of the award be applied to the Indebtedness or thè repair or restoration of the Property. , The net proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and attorneys' fees incurred þy Lender in connectiòn with the ~ondemnation, IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AÚTHORITIES. 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 sl:1allexecute such documents in addition to this Mortgage and take whatever other action is requested by Lender to perfect and c,ontinue Lender's lien on the Real Property. Grantor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfe'èting or continuing this Mortgage, including without limitation all taxes, fees, documentary stamps, and other ch,arges for recording or registering this Mortgage. Taxes. The following shall constitute taxe,s to which this section applies: (1) a specific ta~upon this type of Mortgage or upon all or any part of the Indebtedness secured by this Mortgage; (2) a specific tax on Grantorwhich Grantor is authorized or required to deduct from payments on the Indebtedness secured by this type of Mòrtgage; (3) a tax on thJìÚype o(Mortg~ge chargeable against the Lender or the holder of the Credit Agreerrent; a,nd (4) a s,pec:ific ta~ on all or any /Jortion of the In~ebtedne$sor on payments of principal and interest made by Grantor. , ' ' , ' Subsequent Taxes. If any tax to which this section applies is enacted subsequent to thedaté of this Mortgage, this event shall have the same effect as an Event of Default, and' Lender may exercise any or all of 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 sufficient corporate, surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATerJlENTS: The foHowfn'g"prov:i¿iÖ'ns' relating 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 pa~tYl!nder the Uniform Comm,ercial,Code as, amended from time to time. 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 additjon)o recording this Mortgage in the real property, records, Lender may, at any time and without further authorization from Grantor, fiI'é 'exèè'uÙjd counterpa'rts, 'copies or reproductions of this Mortgage as a financing statement. Grantor shall reimburse Lender for all expensès' incurred in perfecting or. continuing this secClrity 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 Lender and make it available to Lender within three (3) days after receipt of written demand from Lender,to)h~ e,xtent ~ermitted bY.IIPplicable law. , Addresses. The mailing addresses of Grantor (debtor)' and Lender (secured party) from 'which information'concerning the security interest granted by this Mortgage may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this Mortgage, ,.' , , FURTHER ASSURANCES; ATTORNEY -IN·FACT. The following provisions relating to further assurances, and attorney-in-fact are a part of this Mortgage: '" ' Further Assurances. At any time, and from time tø'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 requestèd by Lender, Cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices and place~ 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 110le opinion of Lender, be ,necessary or desirabl,ein order, to effectuate, complete, perfect, continue, or preserve (1) Grantor's, obligat¡ons~nder the Credit Agreement, tliis Mortgage, and thè Related Documents, and (2) the liens and security interests created by this Mortgage on the Property, whether 'now,ownedor hereaftElrac;quired by Grantor. Unless prohibited by law or Lender agrees to the ëpntraryin writing, Grantor shall reimburse Lender for all' cóšts and expenses incurred in connection with the matters referred to in this,p:aragraph. ",,', ',," . , Attorney-in-Fact. If Grantor fails to do any of the things referred to in the preèedingparagraph;Lènder may do sofor and in the name of Grantor and at Grantor's expense. For súch purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the purpose of making, executing, delivering, filing, 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; FULL PERFORMANCE. If Grantor pays all the, I~debted~~sswf:¡e~ duê:terminates the credit' line account, and otherwise performs all the obligations imposed upon Grantor under this ty1ortgage; Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and suitable statements of termination of any financing statement o'n file evidenGÍng Lender's security interest in the Rents and the Personal Property. Grantor will pay, if permitted by applicable,law,~ny rea~o~~ble termination fee as determined by Lender from time to time. EVENTS OF DEFAULT. Grantor will be in defàultunder this: Mortg~ge if any of the following happen: ,(A) Grantor commits fraud or makes a material misrepresentation at any time in 'conneètion with' the Credit Agreement. This cåninclude, for' example, a false statement about Grantor's income, assets, liabilities, or any other aspects of Grantor's financial condition.' (S) Grantor does not 'meet the repayment terms of the Credit Agreement. IC) Grantor's action or ï'naction'adverselyaffects the collateral or Lender's 'rights 'in the collateral. This can include, for example, failure to maintain required insurance; waste or destructive use oHhe dwelling, failure to pay taxes, death of all persons liable on the account, transfer of title or sale of the dwelling; ¡ creation of a senior lien on the dwelling without Lender's permission, foreclosure by the holder of another lien, or the use of funds or the dwelling/or prohibited PlJrþoses.. ' RIGHTS AND REMEDIES ON DEFAULT; Upon the:ôccûrrence of an 'Éven{ói Default and at any time thereafter but subject to any limitation in the Credit Agreement or any limitation in this Mortgage, Lender, at Lender's option, may exercise anyone or more of the following rights and remedies, in addition to any other rights or remediesprov,ided by la~: Accelerate Indebtedness. Lender shall have the right at its option' without notice ·toGrantorto declare the entire Indebtedness immediately due and payable, including any prepayment perlalty w,hich Gra.n~or would bere,9.\Jired to pay. , ' UCC Remedies. With respect to all or any part oqhé Persona! Pro'perty~ l:èmler shall J:¡ave all the rights and remedies of a secured party under the Uniform Commercial Code. , , " ' '" .. .. , . " ," ' Collect Rents, Lender shall have the right, w¡t~oJt~gt¡i:e to G;~ntor, ,to tak'e possession ofthePr6þ~rty, inèluding during the pendency of foreclosure, whether judicial or non-judicia,' an~'cóÚ~è't'''thE! Rèríts,inclûding ani'Óúhts pas't duèarid<unp'aid,and apply the net proceeds, over and above Lender's costs, against the Indeb:iedn~ss:, In'fu;tlÍéránce' ofth'ïs iright" Lender 'may reqÙiie'any tenant or other user of the Property to make payments of rent or use 'fees"dirëCtlyto Lender. If the' Renti>'are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to e,~dorseinstruments received in payment ,thereof in' the name of Gra,ntor' and to negotiate the same 11i¡¡!¡!~¡f:j;~\¡::: ,if . '..'~', ".;':;' ....'!~-.'i' ':~ t¡mj¡¡¡¡¡¡¡ffi~~n . MORTGAGE (Continu~d) ;'" . '·,{,.(I 5'~ <0' U~I:¡" ~~ ,.. 0.00416 Page 4 Loan No: 764003360 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 existed, Lender may exercise its rights under this subparagraph either in person, by agent, or thrò\Jgh. a recei)!er. Appoint Receiver. Lender shall have the right to have a receiver appointed' to take possession of. all or any part of the Property, with the power to protect and preserve the Property, to operate the, Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost oltha receivership, against the Indebtedness, The receiver may serve without bond if permitted by law, Lender's right to the appointment of' a receiver 'shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial am¡ount, Employment by' Lender shall not disqualify a pe.rson from serving as a receiver. Judicial Foreclosure. Lender may obtain ~ judicialde,~(ee foreclosing Gran~~r'~:i~terest in all or any par.t~f the, Property. Nonjudicial Sale. Lender may foreclose Grantór:siri~erElst inallorin.ariy part pfthe propeqy by noncjLidi,cial sale, and specifically by "power of sale" or "advertisement and sale" foreclosur'e' a~provided by stat\.lte.. .' , , ' Deficiency Judgment. If permitted by applicable law ,Lender may ôbtain a judgmentfor any deficiency remaining in the Indebtedness due to Lender after application of all amounts received from the exercise 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 óther rights ilridremedies 'provided in this Mortgage ôr the Credit Agreement or available at law or in equity. ., , ", ., ' '. Sale of the Property. To the extent permitted by applicable law, Grcmtor hereby waives any and all right to have the Property marshalled, In exercising its rights and remedies, Lender shall be, free 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 and 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' and remedies' wil( be cumulative and may be exercised alone' or together. An election by Lender to choose anyone remedy will not bar Lender from úsing a'n'yother remedy, If Lender deCides to spend money or to perform any of Grantor's obligations under this Mortgage, after Grantor's failure to do so, that decision by Lender will not affect Lender's right to declare Grantor in default and to exercise Lender's remedies. Attorneys' Fees; Expenses. If Lender instiiute~ any suit 'or actio~to enforce any of the'tÚms of this Mortgage, Lender shall be entitled to recover such sum as the court may adjudge rea~cinable as 'attorneys' fees'at trial and upon any appe'al. , \^,Ihether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Credit Agreement rate from the dilte of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable la.w, Lender.'s re<\sonable attorneys' fees and Lender's legal expenses whether or not there is a lawsuit, including reasonable attorneys' fees aft.er default'and referral to an attorney not Lender's salaried employee and expenses for bankruptcy proceedings (including efforts to m'odi'fy'o'r \'åc¡lt~ any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees and title insurance, ,tothe, ¡¡xtent. pE/rmitted by appliçable laliV, Grilntor also will pay any court costs, in addition to all other sums provided by law. ,,'" ','," ,.,,.' .'" :.... ',.,'. .' '.' ':.' '. .," .. NOTICES. Any notice required to be given under this Mortgage;'including without limitation any notice of default and any notice of sale shall be given in writing, and shall be effective when actually deliyered, when actually received ,by t~lefaçsirnje (unless otherwise required by law), when deposited with a nationally recognized overnight coú.rie,r-;, or, if rnaHed, whenqeppsitedin thel,lnited'States mail,as first class, certified or registered mail postage prepaid, directed to the add~!!sses. shown near the beginning of this Mortgage, All copies,of notices of foreclosure from the holder of any lien which has priority overthis"l'v1ort~ag.!,! shall bes~nÙo,lE;!,ri(fe(s address"as shown near thebeginning of this Mortgage. Any person may change his or her address (or nqtiCes under this Mortgage' by' giving formal written notic!! to the other person or persons, specifying that the purpose of the notice is to charigethep~rson's address. For nótice purposes, Gràntor agrees 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 {Jrantofs:. It will be ,Grantor'sr~sponsibility,to, tell the others of the notice from Lender, MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage: . I . .. . Amendments. What is written in this Mortgage and in the Related Documents is Grantor'sentiré agreement with Lender concerning the matters covered by this Mortgage. To be effective, any change or Bmendment to this Mortgage must be in writing and must be signed by whoever will be bound or obligated by the,change 0ral\le,ndment. " '. , '" ' Caption Headings. Caption headings 'in this MOrtgage are for convenience purposes only arid are nonobe used to' interpret or define the provisions of this Mortgage.' . . . , . , , ' .' '. .. ~.. . , " , .,1 ~. ... .." .' . Governing Law, This Mortgage will be governed bv:federallaw applicable to Lender and, to the exte~tnot preémpted by federal law, the laws of the State of Wyoming without regardto 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 upon Lender's request to submit, to, the jûrisdiction 0.1 the courts of Lincoln County, State of Wyoming, ' "" . ' No Waiver by Lender. Grantor understands Lender will ~ot give up a~y of Lender's rights u~d~rthis Mortgage unless Lender does 50 in writing. The fact that Lender delays or omits to exer.cise any right'will not mean that Lender'hàs given up that right. If Lender does agree in writing to give up one of Lender's rights, that dOés not mean Gra,ntor will 'not have to 'comply with the other provisions of this Mortgage. Grantor also understands that if Lender does consent to a request, that does not mean that Gr:antor will not h'ave to get Lender's consent again if the situation happens again. Grantor further understands that just 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" Grantor waives presentment, demand for payment, protest, and notice of dishonor.' Grantor waives all rights o{exemption from execution or similar iaw in the Property, and Grantor agrees that the rights of Lender in the Property under this Mòrtg~ge are prior ,to Grantor's rights while this Mortgage remains in effect. Severability. If iI court finds that any provision ofthis Mortgage is not,valid or should not be enforced, that fact by itself will. not mean that the rest of this Mortgage will not be valid or enforced. Tlíeréfore, acouit Will ,enforce the rest 01 the provisions'of this Mortgage even if a provision of this Mortgage may be found tó bE!inYilliqor unenforbeable.., '. ",,: ' . . - ...',.", :.' ..' '. Merger. There shall be no merger of the Interest or estate created by this Mortgage witl1 any other ititerest or estate in the Property at any time held by or for the benefit of Lender ,in any capacity; witho(Jt the written consent ofLender.' Successors and Assigns. Subjec~ t~ an~'li~it~tiqpS'¿t~~~dif1 this Mortgage on transf~r¿f Grantor's int~rest: this Mortgage shall be binding upon and inure to the benefit oltlle parti.es, their'sµccessor$ an4 assigns.', If owne'rship of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor,m~y deal withÙrantor's successorsw,ith reference to this Mortgage and the Indebtedness by way of forbearance or extension without releasing Grantl'r Irqfn t.he obHgqtions of th;s Mortgage or liability 'under the Indebtedness. Time is of the Essence. Time is of the essence inthé·performá~èe of,this Mortgage.:' Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Wyoming as to all Indebtedness secured by this Mortgage. . DEFINITIONS. The following words shall have the following meiming's when ,used in this.Mortgage~ '. "': '.,,,' ;" . " Borrower. The word "Borrower" means CYN'rHIA ,BARBER and,¡llcludes all co-signers and co-makers signing the Credit Agreement and all their successors and assigns. ,;L ", ,: ' .. ' Credit Agreement. The words "Credit Agrèemer1t>"';m'ean 't,h~. c;edit agi'~ement dated Jan\Jary 18, 20.06, with credit limit of $23.000.00 from Grantor to Lender, togethe<~it.~:åIlJen~,vi¡.1;I,I,sof,éxtenliions of, n?0dific,a~i,on,~. of,refinancings of, consolidations of, ~ ~', /' I ,.: . ¡¡¡ííI'tI£~,·' :~r1..·.;t: ..':';. J'~q...y\, ~.4, '50:0' u.3'~""", .", ;:,: Loan No: 764003360 MORTGAGE (Continued) :-,OQ417 Page 5 and substitutions for the promissory note or agreement. !'J0TICE30,GRANTOR: THE CREDiT AGREEMENT CONTAINS A VARIABLE INTEREST RATE. Environmental Laws. The words "Environmental La~s" me'~no'ànÝ ,and af( state; federal and local statutes, regulations and ordinances relating to the protection of human health or the ,environment, inclouping without limitation the Comprehensive Environmental Response, Compensation, and liability Act of 1980,a5 amènded, 42 U.S.C. 'Se'c'tion 9601, et seq, ("CERCLA "), the Superfund Amendments and Reauthorization Act of 1986, Pub, L. No. 99-499 ("SARA "). th.e Hazardous. Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42' U.S.G:. Section 6901, et seq" or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. , 0 Event of Default. The words "Event of Default" mean any of .the,eventsO~f;d,efauit set forth i!1 this Mortgage in the events of default section of this Mortgage. ' Existing Indebtedness. The words "Existing)ndebtedness" mean the indßþtedness.described in the Existing liens provision of this Mortgage. .,' Grantor. The word "Grantor" means CYNTHIA BARBER. '.. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, stored, disposed of, generated, m'anufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any a'nd all hazardous or to'xic 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 fraction thereof and asbestos. 0 o . Improvements. The word "Improvements" means aWexisting and f~ture improvements, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacements and other con"truction on the Real Property. o 0 Indebtedness. The word "Indebtedness" means all principal, interest, and other amo'u'nt5;·éosts and' expènses 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 and any amounts expended ,or advaQced 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 sucçessors and' assigns,. The words "successors or assigns" mean any person or company that acquires any interest in the Credit Agreement, Mortgage. The word "Mortgage" means this MortgagEi blitweån Grantor an~' Lendèr:- _ ., 0 . Personal Property. The words "Personal Property" mean, all equipment, fixtures, andother·articles ,of personal property now or hereafter owned by Grantor, and now or hereafter atta,ched or affixed "to the Real Property; together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property, Property, The word "Property" means collectively the Real Property and the Personal property. Real Property. The words "Real Property" mean the real properw.,jn!,erestsand rights, as further described in this Mortgage. Related Documents. The wOrds "Related' Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security aweements, mortgages, deeds. of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter existing',executed in connection with the Indebtedne~s., Rents. The word "Rents" means all present and future rent~;"revènu'e8, iñconie, issue's; royalti~s, profit~,'and other benefits derived from the Property. ' ' , '. . :_ - u_·: .:. :'..:-;"':'.::' ":., _ _ "-.-"., , .,,:, ,,: , .'. .. ,~:, ,:. . GRANTOR ACKNOWLEDGES HAVING READ ALL THE,PRqYIS!ÖN$:PF °Ti:IJS~'GflT9AGE, AND GRANTOR AGREES TO ITS TERMS. GRANTOR: x Cy~dæ;o&dtA '.C} .' '." . INDIVIDUAL ACKNOW~EDGMENT . . ',.' . , '. .' .. , STATE OF Wyomin~ I ! S8 ,. Þ,I:!N\,',JO,'~, ES,. '. ..,' NOTARY PUBLIC COUNTY OF STATE OF . L.INCOLNo WYOMING ,', " . ,. ,I ..,' MY COMMISSION EXPIRES SEPTEMBER 18, 2001 COUNTY OF Lincoln i . .... . . On this day before me, the undersigned Notary Public, personallÿ' ê'lPp~earedCY.NiHIA BARB~R" to ~~ kn~wn,'to betlie individual described in and who executed the Mortgage, and acknowledged that he or she signed the Mortgage as, his or her free anp, voluntary act and deed, for the uses and purposes therein mentioned. ,',., , " '". , . GB¡¡~ my hand and 0 iar seal this day of January ,,20 06 ~_ ,>, Residing at i.inco;I.n County Wyoming .- My commission ex'pires 9/18/07 "=. :.....' LASER PRO hnding. v.. 5.30.00.004 Copr. H.land Financill SoMj,;nl. I!.'. 1,917, 200'. A:# ~ight. R......". . wy D:\I.ASERPR~\FNB\Cfl\lPL\G03.fC TR.'''' PR-7 1'.; '.', .... , , ",,":.\ , ' .,.; ."'. !;i!:~lllt~¡¡¡~ :¡:ij:..!!fi¡II~¡¡¡¡.. ''"'~*:~' :~~i~f¡~J¡¡tm¡f~¡~!~1