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HomeMy WebLinkAbout915779 ('\,...t:'~9 ' ~ ( RECORDATION REQUESTED BY: FIRST NATIONAL BANK . WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine. WY B3128 .;:.. .:'~' >,' \/,¡¡j' Î;'~; 'i,,;~/. :c:!c..:IJ~; t'';¡::::!L tl .to ¡µtj :pJ}:';:': UU~-, ,.. :1,: l.':.: lpG', bl.~11·"3li ?~~n !,)'Jq: vi."H!~r'· ~:'~'Jl.¡Û'3ê)(ì.: WHEN RECORDED MAIL TO: ,', " '",' FIRST NATIONAL BANK-W~~T","'/i'Í-'!CVl':,WJIi: Alpine ~ ~··.'U>~2U9~:UEjL r.\ ~;~Y:'l!qu 100 Greys River Rd. P.O. Box 3110 Alpine. WY 83128 --- -; ...:.. \ "'.. ....;..- .:_'-. ...:- L.-, -,'~9(,'~ .:.t'::. ¡. ~ :.; .:-:'.~.. :!' . ~ ,. .! RECEIVED 2/6/2006 at 10:57 AM RECEIVING # 915779 BOOK: 611 PAGE: 579 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY , !II ~1 ~ ; .", Ij' ~;., '-J1~c:l' " 0! ~, . '. ;.~ ~:'i-. .. .~; - ~.,~.. SEND TAX NOTICES TO:' FIRST NATIONAL BANK· WEST Alpine " 100 Greys River Rd. P.O. Box 3110 Alpine. WY 83128 I:; """ "-----".'---- .__.~-.,.- -~ ~ SPACE ABOVE THIS LINE is FOR RECORDER'S USE ONLY " MORTGAGE".' ' l ',,' THIS MORTGAGE dated February 1. 2006. is made and executed between FERNANDO P. ESCOBEDO and EMllIANA C. ESCOBEDO. whose address is PO, BOX 4207. JACKSON. WY 83001 (referred to below as "Grantor") and FIRST NATIONAL BANK ~ WEST. whose address is 100 Greys River Rd.. P.O. Box 3110. Alpine. WY 83128 (referred to below as "Lèl)deÍ':·). ' ' '" ';, , " 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 affixèd'obuildings, improvements and fixtures; all easements, rights of way. and appurtenances~ all water:\Nater'!:ights,' \Natercourses and ditch rights (including 'stock in utilities with ditch or irrigation rights); and all other rights, royalties, and'pr'ofits'relatinç¡tci the real'¡:irò¡:ièrtÿ, ·,includlng':;wjtho~t.limitation\all minerals,'oil, gas. geothermal and similar matters, (the" RealProperty"Tlcicated In LINCOLN ' County, State of Wyoming: ,! , ", , lOT, 7 OF, PETERS SUBDI\¡¡SION'.',~LlN.CPL~;:,êå¡tJNTY.~':WYRMI~,~;~~Gbffp'I,~g,~1:q:~Ì~AT;,P'LJ\f:"FlP;R JUNE 2/ 1993 AS PLATN0348,IN$TFlI)I\I.I.E \ Tk~¡P~.;7,!35~~:1.ç¡ ,:~':¡, '''~,::~,'H':¡','';C< ,'~,,:,2'q~~:,!¡el,¿.;;,:;,;,;~;.;',:';,,:,' " '" ':, ' The Real Property 'or its address 'is 'èômmörilY''f</i'own äs,! lO"Ji'VOF !PETERS'SJJBDJVJSI.ON.LAL~INE", wy, 83128. ,', Grantor presently assi~n~ :t?' Lecid~'r ,~iì '~(Gr~,ni~r'~'~~i;~~:~~tì~.,!~~~J i';~,~rØ~~'\~ r~~}i,~~p;~IJ:p~~~~n~'~n~%!pM~' i~~~~;~f~~9.~1~~'}WV~iiY and all ,Rents from the Property. In addition, G,rantor, gr~n~s~o le/')de,r:i~ LJnlforr:n,ComlJl!!~~I~l Clo~EI"~ef(~nw,,!n1%~~f,,lrl~~~F'~rwnrrP.r()~e,r~ý and R,ents., " THIS MORTGAGE, INCLUDIN(3'l'HE ASSIGNIVIENT'OF'REN'fS' AND THE SECURlrV'lNTERESTIN .THE Ref.J'fSf'AND'PERSONAL PROPERTY. IS GIVEN TO SECURE (A) PAyMENT 'OF'TfiEINDEBTEDNESSANDIB)' PERFORMANCE OF ANY AND ALL ,OBLIGATIONS UNDER THE NOTE. THE RELATED DOCUMENTS. AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: . , ',' . , PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to lender all amounts secured by this Mortgage as they become due and shall strictly perform all of Grantor's obligations ,unde,r this Mortgage., POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession' and use of the Property shall be governed by the following provisions: , ) Possession and Use, Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2) L/ use, operate or manage the Pro'perty; al'!d (3) collect the Rents from the Property. ' Duty to Maintain. Grantor shall maintain the Property in good condition and promptly perform all repairs. replacements. and maintenance necessary to preserve its value. . , ·,1 ') Compliance With Environmental laws. Grantor represents and warrants to lender that: (1 I During the period of Grantor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe that there has been, except as previously disclosed"tô' 'and aCknowledged by lender iriwriting;' ,(éi) a'ny, breach or viol.ation of any Environmental laws, (b) any use. generation, maÌ1úfacture, storage, treatment, disposal" release or, threatened .release of 'any Hazardous Substance on, under, about or from the Property'by any:prior owners :or. occupants of the Property~ (i)r,:'(c)..:,any"ac!ua,1 orthHlaten,ed litig;¡tion or claims of any kind by any person relating to such matte~s; ar¡d,,,l31, ,El$ceptl\s pre~io!Js!y ~~isc~o,~~d,tp ..an~o~q~p()vvledg~~}~.y ~~(1per, in )Nriting, (a) neither Grantor nor any tenant, cOIJ~ractor.;¡'IQ~q'~()r o~t¡~r: auth,oriz~Ø user,Qfth~, PlQ'p~rtv ,~ha!L.!!s~, ;g.It\'1~r,I!J~f,'T.Ii!n\1fÞf,uf,~', store, tre,at, pispo,se of or release any Hazardous, Substance on, under, about or from the Property; and (bl any such activity shall be contfucted In compliance with all applicable federai, state, arid IÓcáFlaw'š!it'eg'uratioriš 'and ördiÍ)at1c~~,; i!}clÿ9ifi.9:.wilÞP:ÇJt;ljfl1it1!!i~n;àll Ervjr9!1~e-,~\al. laws. Grantor authoriz.es lender and. its agent~' to ~1)!e{¡HP01( '~~'è':QP,e{!y,¡t~:J11ak~ such inspections and test~, at Gr,antor's expense, as Lender may deem appropnate to determine comp!lar'!ce ¡fJ.{..~h~ PyftP.~rN,;r!t~~~I,s;~~tIQr\ ?Hþ~,:¥!1ft~?~Et':..:1Ç1!Y1Ir~l3e~t¡<~n!i ,~VEfs'~r,\,ade .qy.t~e,nd,~J ~hall be for lender's purposes only and shall not be constr~eätèi create-any responsibility or lIabllltY'oH'iHe part of 'lender to G~a/¡tor or to any other person. The representationsa(1d' wâhàntieSS'c"o·ntàir'íedli~'rëir)' 'afe '"basêó' ôn~:Gf¡¡ntòr'sc;dùè diligencivin>'inilestigating the Property for Hazardous Substances. Granic:irtierebÿ';'ll -'[;ielèB'sås' and waives âny futurÌ3t'claims' agail1st>liend~'rfot Jndemnityor contribution in the event Grantor becomes liable for cleáiilJp'or 'ótn~r'éösts' 'unClèr:åny' such laws; ål1d(2) , agrees1to'indemriify:and hold harmless Lender against any and all claims, lòsses;' liabilities,damageS: penalties,"andèxþehses'which lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Mortgàgê orBS a conseque'nce of any use, generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or interest in the Property, whether or' not the same was or should have been known to Grantor. The provisions of this section of,th'e Mortgage, including the obligation to indemnify, shall survive the payment of the Indebtedness and the satisfaction and reconvèyance of the lien öf this Mortgage and shall not be affected by Lender's acquisition of any interest in the Property, whether by foreclosure 'oro~herwise:' ' " , ' ' " Nuisance. Waste. Grantor shall notc'a~~~",conclu~t' or' per'ri1itany nuisancå ,nor c0l1;lmit, permit, or ~uffer;ar1Y stripping of or waste on or to the Property or any portion of the Property. Wi~hòut limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the right to remove. any tinibår, mínerals(inèiud\n9 oil and ga:!kco¡¡I, olay, scoria,' soil, gravel or rock pròducts without lender's prior written consent, ,,~,;,', "',' , ',' , Removal of Improvements. Grantòr shall not demolish or remòve any I~provernents 'from the Real 'Property 'whhoUt 'lender's prior written consent. As a condition to the removal (If any In'iþrovements, ~ender may require¡ Grantorto,mak,e arrar;lgements,sàtisfélctòry to lender to replace such Improvements with Improyements of at least equal value. , ' ',',", Lender's Right to Enter. Lender and,lender's ,agents and representatives m,ay enter upon the Real, Prpp~rtya,t all reasonable times to attend to lender's interests and to inspect the Re~1 Property fOr. purpose:; of Grimtor'scompliance,wit,h,ti:i!3 ~~rms<!nqcol'1~itions of this Mortgage. Compliance with Governmental Requirements. Grantòr shall promptly comply with all laws; :ordinances,' and regulations',' now or hereafter in effect, of all governmental authorities applicable to the use, or occupancy of the Property. Grantor may contest, in good faith any such law, ordinance, or regulation and withholdcoinpliance during any p'rocèeding', including àppropriateappeals, so long as Graritor has notified lender in writing prior to doing so and so long as, in lender's soli! opinion, lender's intere'sts in the Property are not jeopardized. lender may require Grantor to post adequate security or a surety bond. reasonably satisfactory to lender, to protect Lender's interest. 'Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those acts s'et forth, above in this $e,c~ion, which from the character' and use of the Property are reasonably necessary to protect and preserve the Property. """., :f? ,'. , ' TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Mortgage: ~m¡¡¡¡¡¡¡¡¡i¡m¡¡~ , , 0915779 MOR"TGAGE (Continued) e:- 58 0 Page 2 Loan No: 764003376 '. 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, ilnd 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 lie'ns' haliingpriority over or equal to the interest of Lender under this Mortgage, except for those liens specifically agreed to in writing by Lender, and except for the lien of taxes and assessments not due as further specified in th~ Right,to Contest paragraph, Right to Contest. Grantor may withhold payment of any tax, assef¡sment,' or claim in conn'e'ction with :a godd 'faith' dispute over the obligation to pay, so long as L nder's interest in the Property is not jeopardized. If a lien arises or is filed 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'nótice 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 su.fficient to discharge th!3 lien plus any costs and reasonable attQrneys' fees, Q{Qther charges that could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender ¡md shall satisfy any adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.' '. " , , Evidence of Payment. Grantor shall upon demand 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 least 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 fOIlClwing provisions relating to i'nsuiing the Property'are a part of thisMórtgage: 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 deliver to Lender certificates of coverage from each insurer containing a stipulation that coverage will not be cancelled or diminished without a minimum of thirty (30) days' prior written notice to Lender and not containing any disclaimer of the insurer's liability for failure to give such notice. Eacl:1Ínsurance policy also shall include an endorsement providing that coverage in favor' of Lender will not be impa'ired 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 Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the proþerty securing the loan, up, to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by lender, and to maintain such insurance for the term of the loan, Application of Proceeds. Grantor shaljr¡romptiy notify Lender of any 10ssQr damage to the Propertyif' the èstiniated cost of repair or replacement exceeds $1,000.00. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's election, receive and retain the 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 satisfactÒi'yproof òf ;such expenditure, payor reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is noUn default ,under this Mortgage. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender lÍas not'i:'Ömm'itteéi to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under' this Mortgage, then to pay accr!Jed interest,' and the remainder ,if ' any, shalf be' applied to the principal balance of the Indebtedness. If LenøerhOlds ¡my proceeds after payment in full of the Indebtedness, such pfoceedsshallbe paid to Grantor as Grantor's interests may appear.,' " , . ",.. ",;,....';,. LENDER'S EXPENDITURES. If Grantor fails (A) to. keep the Property free of alltaxes¡ liens, security interests, encùmbraimes;'and other claims, (8) to provide any required insurance .o'nthe Property, or (Clto make repairs to the Property then tender 'may ;do:so. If any action or proceeding is commenced that would materially affect Lende'r's interests, 'in the' Property, then Lender on Grantor's behalf may, but is not required to, take any action that Lender believes to, be appropriate, to protect Lender's interests. All expenses incurred or p<!id by Lender for such purposes will then bear interest at ~he rate chargeq ,lInqer the Note' from the, date incurred or paid by Lénder, to the, q¡¡te,of repayment by Grantor, All such expenses will becòme a part of the Indebtedness arid, at Ll¡!nder~s option, wiU (A) bepayabièon dem'and;'J8) be added to the balance of the Note and be apportiQnedamong ¡¡nd be pàyable with any inst~lfm~nt payments to bèc,ome dlJedurirlg ~ither ) 1) the term of any applicable insurance policy; or (2) ther,emaining termotthe Note; ()r (C) betreated as aballoÇ>n paym!3'1t which wiUbe,due and payable at the Note's maturity. The Mortgage'also'wiilsecure payment of thèse amounts. 'The rights provided for in'thisparagraphshall be in addition to any other rights or any remedies to w,hich' Lender may be entitled onaccour]t, of any øet,ault. Any such action by Lender shall not be construed as curing the default soås,tq,bar Lender from any remedy that it otherwise would have had. ' , WARRANTY; DEFENSE OF TIT~E. r~e. follow,ing prov,i~icm~,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 :feesimple, free and clear of all liens and encumbrances other than those set forth in the Real Property description 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 (b) GrantOr has the full right, power, and authority to execute and deliver this rv¡ortg~gl; !oL~r¡der. ' , " , Defense of Title. Subject to thè exception in the paragraph above, Grantor warrants arid will forever defend ,the, title to the Property against the lawful claims of all persons. In the' event any action or prOceeding is commenced that questions Grantor's title or the interest of Lender under this Mortgage, Grantor sh<!ll¡jefend the action at Gra,ntor's. expense; Grant9r may be the nominal, party in such proceeding, but Lender shall be entitled to partiCipate' in' the pr'oceeding and to be represented in the proceeding by coun'sel of Lender's own choice, and Grantor will deliver, or caùse to 'be delivered, to Lender such instruments as Lender may request from time to' time to permit such participation. . 1', .. ! '. Compliance With Laws. G¡'~ntoi ~arrantsth'adhe Property and Grantor's lÌs~ of the Property ~om'plies with all existing applicable laws, ordinances, and regulations ofgovef';¡!)1é!!~:al aÙtþqdties. ' , \ Survival of PromIses. All promises, agreements, and statements Grantor has made in this Mortgage shall survive the execution and delivery of this Mortgage, shall be continuing in nature and shall remain in full force and effect until such time as Grantor's Indebtedness is paid in full. "i ." , ", , CONDEMNATION. The fOllowing,provislons relatingtocoridemnatio'n proceedings are a part of this Mortgage:' _ .' '" ,.. . - - ". Proceedings. If any proceeding in condemnation,is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take such steps as may be necessaiy todefel}~ the, action and obtain the ,award. Grantor may be the nominal party iI'), such proceeding, but Lender shall be entitled to partiCipate in ,the proceeding .and to be represel)ted in the proceeding by counsel of its own choice, and Grantor wiU deliver or cause to be delivere'd to Lende'r' such instruments and documentation as may be requested by Lender from time to time to permit such participation. 'C:", " , ' ',' ' . Application of Net Proceeds. , If àlloraný 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'reqÙiré that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the,award shall mean the award after payment of all reasonable costs, expenses, andattorneys'fees incurred by Lender ih connection with the condemnation. ' , ...-..,' t·:>. " ..,..' ", .... '. ',' l' " ,.:.,: , '" IMPOSITION OF TAXES, FEES AND CHþ'RGE~BY GOVEÁNMENTÄL Al,ITHORITIES. The following provisions relating to governmental taxes, fees and charges are a part of this Mortgage:" , ", , , , " " Current Taxes, Fees and Char Jes., 0p~r)' request by' Lender, ~¡'a;'toTshall ex~~~t~ slJch qo'cume~~~ in ¡¡d,¡ji~i()n. i!) ~~is"Mortgage and take whatever other action is requestEld by Lender 'to perfect .andcontinue Lel')der'slien on tile Real, Pro~erty. Grantor shall reimburse Lender for all taxes, as described below, 'togiÙh~¡:, wjth all expenSeS incurr~'øin recordï'ng; perfecting or (:ontinúing tlÍis MOrtgage, in'eluding without limitation all taxes, fees, documentàr'ystamps, and otlíercharges for rec?rdil)g or registering this Mor~gage. . ',,' , Taxes. The following shall constitute taxesto' which this sectio'n applies: ,( 1) 'a specific tax upon this type of Mortgage,orupon all orany part of the Indebtedness secured by. this Mortgage; ,(2). a specific tax on Gran.tor which Grantor is authorized or recjuired,to deduct from payments on the Indebtedness sec~red by this type of Mortgage; (31 a tax on this type of Mortgage chargeable against the Lender or the >;"" . I, " d,. "".; nc;':!6ò"'j~9 Û"-'.:,",~¡¡ £.03 :;~:¡¡¡m¡m¡¡5~i ,;;'IT?:m!;;:j:::i!W Loan No: 764003376 MORTGAGE (Continued) 'r (H" 581 Page 3 holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on þBymentsof principal and interest made by Grantor. '_', Subsequent Taxes. If any tax to which'this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of Default, and Lender måy exercise any 'or all of its available remedies for an Even~ of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) éontests thetax as provided above in the Taxes and Liens section and deposits with Lender cash or ,a sufficient corporate s~rety bond or qther security s~tisfactory.t( ,Len~er,~ ,". , , .. ¡ , '. '.. . '" -, . .' - ,:, . " " -. ,..".. .:." '; ... ': ) '~ " SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions'relating to this Mortgage, as a security:agreement are a part of this Mortgage: "" , '. . . Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Prope'rty constitutes fixtures, and Lender shall have all of the rights ofasecufed party under the Uniform Com'mercial Code as 'amended from time to time; , ' ". . ~ : .. .' ,"' .. -. . . . .. Security Interest. Upon request by 'Lender, Grantor shall take'whatever aCtion is requeste{by LeÒder to perfect andcôntinue Lender's security interest in the Personal Property. In addition tQ recording this Mortgage in the real propert{records, Lender'may, at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Mortgage as a financing statement, Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Grantor shall not remove, sever or detach the Personai 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 the extent permitted by applicable 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 andattorney:in-fact are a part of this Mortgage: Further Assurances. At any time, and, from time to time, upon request of Lender, Grantorwill make, e,xecute and deliver, or will cause to be made, executed or delivered, to,Lender orto,Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or rerecorded, as the' case may,þe"at such times and in such offices and places as Lender may deem appropriate, any ,and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Grantor's obligations ,under the Note, this Mortgage, and the Related Documents, and (2) the liens and security interests created by this Mortgage as first and prior liens on the Property, whether now owned or hereafter acquired by Grantor, Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph. Attorney-In-Fact. If Grantor fails' to do 'any of the things referred to in the preceding paragraph, Lender may do so for and in the name of Grantor and at Grantor's expense. Fors0ch ,purposes, Grantor, hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the purpose of making, executing, delivering~ filing, recording, and doing all òther things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referre~ toin the preceding paragraph. , ' ' FULL PERFORMANCE. If Grantor paýs all the Indebtedness when due( aod ()th~rwise performs all the obligations imposed upon Grantor under this Mortgage, Lender shall execute and deliver toGrantor 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 applicable law, any reasonable termination fee as determined by Lender from time, to time. . .. . . EVENTS OF DEFAULT. At Lender'soption, Ç'ré\nt0,rwill be indefaul~, under this Mortgage ¡fany of the ,following happen: Payment Default. Grantor fails to make any payment when dUe under the Indebtedness., , ' Default on Other Payments. Failure of GrantOr within the time required by this Mortgage to 'make: any 'payrnentfor'taxes or insurance, or any other payment necessary to prevent filing ofo~ to effect discharge 6f a~y ,lien:" ", . " '", ( . " ~ . :::, .." " : ' : ..... , .....:. .. .'.; . , ' . Break Other Promises. Grantor brl:1aks any promise m! de "oLender orfàils ~o perform pr()mptly ,¡11:, the time' and strictly in the manner provided in this Mortgage or in any agreement related to this 'Mortgage; "',' "', '",', , ,,' ...,('r.~:;:,\;¡ ~': .." .' .t;·_,"-"_' _.. '; "'^', ....:., ..,...~...""..._!.;."...~._ ,',"', .,.:....,::_.. ....,., False Statements. Any representationòr$tatementmade or flJrnìshed to Lende'r by Grantor or 'on Grantor's behalf Under this Mortgage or the Related Documents is false or misleading in any material respect, either now or a~ the time mad~ qr furnished. Defective Collaterallzatlon. This Mortg¡¡ge or any of the Related, Document¡¡ ceases to, be in fUll Jorce ,~nd effect (including failure of any collateral document to create a valid and perfected secUrity interest or lien) at any time and for any reason. ' Death or Insolvency. The death of Grantor, tt1einsolvimc,y of Grantor, the app()intment of a receiver forarìy part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or, the commencement of any proc'eeding under any bankruptcy or insolvency laws by or against Grant,!r: ",' " Taking of the Property. Any Creditor or governmental' agency tries to take any of the Property or any other of Grantor's property in which Lender has a lien. This includes taking of, garnishing of or levying on Grantor's accounts'with Lender. However, ,if Grantor disputes in good faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Grantor gives Lender written notice of the claim and furnishes Lençfer,with monies or a surety bond ,satisfactory ,t() Lender to satisfy the claim, t/:1en this default provision will not apply. ',,' ,-- ,,' '" ' Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not remedied within any grace Period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Grantor to Lender, whether existing !'low or later. ' ';" ' " Events Affecting Guarantor. Any ofthl:1 preceding events Qccurs with respect to any guarantor, endorser, surety, Or accommodation party of any of the Indebtedness or, any'g'u'arantor, endorser, suretŸ; or accolT]lT odation partydiesor becomesincon;petent, or revokes or disputes the validity of, or liability under. any, Gu/Ùan'ty of the Indebiedness~ In the event of a death, Lender, 'at its option, may. but shall not be required to, permit the', gUl,lrantor"s ,estate to assùme unconditionally the obligations arising 'under the guaranty in a manner satisfactory to Lender, and, in doing so, cure any Event of Defauit,' " , . .. '..:. ., -."::'¡ .' '! InsecurIty. Lender in good faith believes itself insecure. RIGHTS AND REMEDIES ON DÈFAULT.,'Úþon'ihe 'otcUrrence o'fàn'Eve~t ot'befaÙlt and at any time thereafter, Lender, at Lender's option, may exercise anyone or more of the follow¡'rig d'ghts,:andre'rn!'!Qies,in addition to any other rights or 'remedies provided by law: Acceferate indebtedness. Lender shall have the right ,at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable, including any prepaYrnedtp~nalty which Graritorwo'uld be required to pay. . ' UCC Remedies. With respect to all, or any part of the Personal Property, Lender'shall have all the rights and remedies of a secured party under the Uniform Commercial Code. . ' , Collect Rents. Lender shall havè the right; without notice to Grantor, to take possession of the Propèrty~ including during the pendency of foreclosure, whether judicial or non-jUdicial, and collect the Rents, including amOunts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness: In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use, fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to enc;lorse instrl,lments r,eçe,ived in payment th¡¡reof in the name ,of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall 'satisfy the obligations for which the payments are made, whether' or n9t any proper g'rounds for the de,mand existed, Lender may exerCise its rights under this subparagraph either in person, by age[\t, qr,throug!1 a receiver., " Appoint Receiver. Lender shall have the' right to have a re'ceiíier appointed to take possession of all or any part Of the Property, with the power to protect and preserve the f,'q>perty, to, operate the, Property preceding foreclosure or sale, ,and to, collect the Rents from the Property and apply the proceeds,ove'r and above the cost of th~ receivership" against the 'Indebt¡jdness. Thineceiver'may serve without bond if permitted by law, , Lender'~;,~i9h,io ~he. appointment of ,a ,receiver shall exist whether or,n()t the apparent'value,of the Property exceeds the Indebtedness by a substa,ntial amount. Employment byLe'nder shall not disqualify a person from serving' as a receiver. <. ',' '" f"C,i." ~'179 loan No: 764003376 Ud~";¡" , ' MORTGAGE (Continued) nr582 ,.. Page 4 Judicial Foreclosure. lender may obtain a judicial decree foreclosing Grantor's interest in all or any part of the Property. Nonjudicial Sale. lender may forèclose Grantor's interest in all or ina(iy part 'of the Prapérty by non-judicial sale, and specifically by "power of sale" or "advertisement and sale" for.edbsúre as provided by st.at~te: ,¡,' , , , ' Deficiency Judgment. If permitted .by applicable !aw, lender may obtain a judgment for any deficiency remaining in the Indebtedness due to lender after application of all amollnts received from the exercise of the rights provided iA this section. Tenancy at Sufferance. If Grantonemains in poss'ession ofthe Property,after the Property is sold as provided above or lender otherwise becomes entitled to possession of the Property upon default of Gràntor, 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 ofLendeJ, " ',',', , ' ' " Other Remedies. lender shall have all other rights and remedies: provided in thi!¡, Mortgage or the Note' or 'available ,at'làw; or, in equity. ;- ".;' !. -.:": ' . " .' ...' ',. . .'. . Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all right to have the Property marshalled. In exercising its rights and remedies, Lender 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~ Reásonable notice shall mean notice given at least ten (10) days before the time o'f 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'Lårid~r's 'rights ¡;¡nd remedies w'iI( be cumulative' and may be exe~Cis~d ~Ioneor iÓgEither: An election by Lender to choose anyone remedy \Ìvill' not ~ar Lender from lJsing',any other remedy. ,If Lenderdéi:ides to spend money or to perform any of Grantor's obligations under this' Mortgage, after Grantor's failurEito 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 institutes any suit or action to enforce any of the terms of this' Mortgage, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prol1i~i~ed'by law~ all reasonable expenses Lender incurs that in Lender;sopinion 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 Note rate from the date of ,the,expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable aw, Lender's reasonable attorneys' fees and Lender's legal expenses whether or not there is a lawsuit, including reasonable ,attorneys' fees and expenses for bankruptcy proceedings (including ,effons to modify or vacate 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, to the extent permitted by applicable law. Grantor also will pay any court costs"in,additionto 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 delivered, when áctually received by telefacsimíle (unless otherwise required by law), when deposited with a nationally recognized overnight 'courier, or~ if mailed" when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Mortgage. All copies of notices of foreclosure from the holder of any lien which has priority over this Mortgage shall be sent to Lender's address, as shown near the beginning of this Mortgage. Any person may change his or her addre$s for notices under this'tv1òrtgage'bŸ giving formal written notice to the other person or persons, specifying that the purpose of the notice is to change the person'sad'dress;For notice purposes, Grantor 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 Grantors. It will be Grantor's responsibility to tell the others of the notice from Lender. - . . I MISCELLANEOUS PROVISIONS. The folio;¡;;ingini~cellaneous provisions are a ¡:i~rt of this Mortgage: ;,", Amendments. What is written i~thi,~fv'io~tg~ge ,åodin theReiåt~~ 60cUm'e~ts 'is Gr~ntor's' entir~<Ìgreem~nt with Leride;~oncerning the matters covered by this Mortgage. To be effective, any chimge' or amendment to this Mortg¡;¡ge must be in writing and must be signed by whoever will be bound or obligated by the change or, amendment; , ' , :" , Caption Headings. Caption headinris '¡~this rV1ortg'age are for 'co;';veriierice purposes only and ar~ n¿t to be used to interpret or define the provisions of this Mortgage. ' ,':, , " '''''' t: '. .;. ,". ~" , . \ '. _', . .. -. . ; : ,. ',j',' , . '. _.' _ :.: ..: _. .. .' ! Governing law. This Mortgage will be governed by federal law applicable to Lender an~, ,to the extentnòt preemp'tedby federal law , the laws of the State of Wyomln'g witho,ut' rega~d 'to its conflicts of law provisions. This Mortgage' has' been acÌ;epted by Lender In the State of Wyoming. ',' ,"" ,,' ".., , ',', ,', " ,,' ,;",' , , ' ,',' .. Choice of Venue. If there IS a lawsu'¡t,Gia'ntor agrees upOn Lender's request to sUbmittó th'e juris'diction of the éoJrts of Uncoln County, State of Wyoming. ' ," Joint and Several Liability. All obligations,of Grantor under this Mortgage shj'lll be joint and several, a~d alli~ferences to Grantor shall mean each and every Grantor. This means that each Grantor signing below is responsible for all obligations in this Mortgage. No Waiver by Lender. Grimtor un~erstands L.ender will nat give up ~ny of Lender's rights underthis Mortgage unless Lender does so in writing. The fact that Lender delays 'or.'qmits ,to exercise ¡lny right will [10,t mean th¡¡t Lender has given up that ri9(1t.lt lender does agree in writing to give up one of Lender's rights, that does not mean Grantor wiil not have to comply with the other provis'ions of this Mortgage. Grantor also understands that if Lender doe,s consent to a request, that does not mean that Grantor wiU not have 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 ~iII bø reqlJired toconsent'to 'any' of Grantor's fUture requests. Grantor waives presentment, demand for payment, protest, and notice of (lishonor, Grantor waives all rights of exemption from execution or similar law in the Property, and Grantor agrees that the rights of le'nder inthe Pròperty under this Mortgage are prior to Grantor's rights while this Mortgage remains in effect. Severability. If a 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. Therefore,a court will enforce the rest of the provisions of this Mortgage even if a provision of this Mortgagerl1ày befp'ùnd to bé invalid or unenforceable; , Merger. There shall be noinergt¡!i~f th¡¡;i'~tere~tor estat~ created bY this Mort9age with any other interest or estate in the Property at any time held by or for the benefit of lender in any èapacity, without the written consent of Lender.' , ' ", I, .. . ':_' ... ',,". (_, '" ,". .:' . . ',' _, ',~". . ':" .' Successors and Assfgns. SUbjecnoanyliìnit,ations stated in this Mortgage on transfer of qrantor's interest, this Mo'rtgage shall be binding upon and inure to the benefit of the ' parties, t,heir'successors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without f10tice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness by way of forbearance or extensiorì. without releasing Grantor from the 'obligations of this Mortgage or liability under the Indebtedness. Time Is of the ~ssence. Time is of the essence inthe performance of this Mortgage. Waiver of Homestead Exemption: 'qrå~t,9t~eretiy,relè~~'es :ât;1dw~íves all rights and benefits of the' homestead exemption laws of the State of Wyoming as to all Indebteqn~~s~ec,ured ,by, this Mortgage. , ' DEFINITIONS. The following words shall have the following meanings when used in this Mortgage: . . ~ ' .- . ". ,', .', -:. ¡: -, ' . . . . . '. . . ' .. .' . Borrower. The word "Borrower" means FERNANDO P., ESCOBEDO and EMILlANA C. ESCOBEDO and includes aU co-signers and co-makers signing the Note and all their suc~essors'a~d assigns.' , ' " , ',' Environmental Laws. The words' '"Environmental Laws" mean any and, all state, federal and local 'statutes, regulations and ordinances relating to the protection of hum a/} health, or the environment, 'including without limitation the Comprehensive Environmental Response, Compensation, and Uability Act cif 1980,as amended, 42 U.S.C. Se.ction '9601; et seq'. ("CERCLA"¡' the Superfund Amendments and Reauthorization Act of 1986, Pub. L' f'Jo. 9~-499 ("SARA"); the Hazàrdous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C.Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant tliereto~'; "" , ' , , , , Event of Default. The words "Event óf Default" mean any of the events óf default set forth in this Mortgage in the events of default section of this Mortgage, " Grantor. The word "Grantor~ meansfÈ~NANDOP.ESCOBEDO andEMILlANA C. ESCOBEDO, í:2¡¡j!~~mm,~~J 4i . ~.~'.:_') '.-"':'.:' ", , " , ", 'f". ,;', \'""'>""'.,..." 0 U::J' ~~ ¡¡¡ ,~ J :;:::~::::::::;1:;~:;~ ::;'.·.'."·,f·..·~·.·.·1~ MOFiT'ëiÄGE (Continued) ;;'·.:":::¡;~fu~ .... r ,... ~ -"'_·;y ·¡ ,'.·.L~'L".1 '\!¡·,!~O~"'··" .. \... .Loan No: 764003376 ,,-, , Page 5 Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without limitation a guaranty of all or part of the Note: ' 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 ilsed, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental, taws. The term "Hazardoùs Substances" also includes, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos. ' Improvements. The word "Improvements" means all existing and future improvements, buildings,structures, mobile homes affixed on the Real Property, facilities, additions, replacements and other construction onth,e Heal Property. Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Lender to enforce Grantor's obligations under this Mortgage, together with interest on such amounts as provided in this Mortgage. Lender. The word "Lender" means FIRST NATIONAL BANK - WEST, its successors and assigns. The words "successors or assigns" mean any person or company that acquires any interest in the Note. Mortgage. The word "Mortgage" means this Mortgage between Grantor and Lender. Nota. The word "Note" means the promissory note dated February 1.2006, in the original principal amount of $58,491.31 1rom Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements 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 'Pioperty~ mean the real property, interests and 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 agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instwments, agreements and documents" )'Vhet~ernow ~r hereafter existing, executed in connection with the Indebtedness. Rents. The word "Rents" means' all present åndfuture rents, revenues, income, issues, royalties, profits, 'and other benefits derived from the Property. EACH GRANTOR ACKNOWlEDGES HAVING READ ALL THE PRO~ISIONS QF THIS MDRTGAGE. AND EACH GRANTOR AGREES TD ITS TERMS. GRANTDR: x-~zqf/ð¿~f'. FERNANDO P. ESCOBEDO , . x ~jC.~~~ EMIlIANA C. ESCOBEDO " INDIVIDUAL ACKNOWLEDGMENT COUNTY OF L ~"""'c.~\", ) ) SS I SETH C. JENKINS, NOTARY PUBUC COUNTY OF ~ STATE OF LINCOLN ""~ ,WYOMING MY COMMISSION EXPIRES JUNE 172009 STATE OF lA.J 0 ~ """'-~ - ~ On this day before me, the undersigned Notary Public. personally,appeared FERNANDO P. ESCOBEDO and EMIlIANA C. ESCOBEDO. to me known to be the individuals described in and who executed 'the Mortgage, and acknowledged that they signed the Mortgage as their 1ree and voluntary act and deed, for the uses and purposes therein mentioned. , ' ' OS\- ' Given un er my hand and official s I this day of C. ~~~ , '~ Lìh~"I.. . 20 ~ LD , ',CQ~~,-^ " '.) (.r¡ .:..ll- 200Q . By Residing at Wèf~·~ .., , ", ,." ~ . . '.- My commission expires LUE" PRO Unding. v.. 1.30.QO.OOt CliP', .........d fnllOc.ial loIufMin.. "111:. 1887, -100&. All Righta R_ved. . WY D:\LASfRPRO\FNB~CFI\lPl\G03.fC 'Tn-SiB . '. .-.