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HomeMy WebLinkAbout916217 }~ r,;NYm~I;J~ (~: i .,....'.'.'.11'._.· ~1 I'~' :,:~;~~:~:~~:~~:~ RECORDATION REQUESTED BY: The Jackson State Bank & Trust Main Office P.O. Box 1788 112 Center Street Jackson, VVY B3001 C.o0076 WHEN RECORDED MAIL TO: The Jackson State Bank & Trust Main Office P.O. Box 1788 112 Center Street Jackson,VVY 83001 RECEIVED 2/24/2006 at 1:27 PM RECEIVING # 916217 BOOK: 613 PAGE: 76 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER WY -.----------- ' SEND TAX NOTiCES TO: The Jackson State Bank & Trust Main Office P.D.Box 1788 112 Center Street Jackson. VVY 83001 -. ._----~-- SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY o¡; .._.. - ~.-'.' ._. ~2/ MORTGAGE MAXiMUM LIEN. The lien of this Mortgage shall not exceed at anyone time $263,500.00. THIS MORTGAGE dated February 9, 2006, is made and executed between Sarah D. Scott, Trustee and her successors in trust, under the Sarah D. Scott Living Trust dated October 1 , 2004, and any amendments thereto, whose address is P.O. Box 3691, Aipine, WY 83128 (referred to below as "Grantor") and The Jackson State Bank & Trust, whose address is P .0. Box 1788, 112 Center Street, JacJ«;on, WY 83001 (referred to beiow as "Lender"). ' GRANT OF MORTGAGE. For valuable consideration, Grântor mortgages' ándconveys to .Lender all ófGrantor's right, title, and interest in and to the 101l0wing described reai proper:ty, .togeth~rwith 1111 existing or subsequentlyerectedÖr affixed buildings,' Improvements and fixtures; all easements, rights of way, and appurtenances; all water, watè"r rights, watercourses and ditch rights (including' stock in .utilities. with. ditch or irrigation rights); and all other rights, royalties, and profits relating to the realpropertyò' includi~9_ without limitation ,allmineralS,oiJ, gas, geothermal and ,similar matters, (the "Reai Property") located in Lincoln County, State of Wyoming: " . "'" , :.:! .' . Lot 4, Aspen HiII'SUbdiViSionë" being part of the North Half (N1/2) of Section 22, Twonship 36 North, Range 119 West, 6th P.M., Lincoln ounty, Wyoming The Real Property or its address is commoniy known as 447 Aspen Hill Drive, Alpine, WY 83128. REVOLVING LINE OF CREDIT. This Mortgage secures the Indebtedness Including, without IImttation, 11 revolving line of credit, which obligates Lender to make 1Idvances to Borrower so long 115 Borrower complies with ,1111 the terms of the Credit Agreement. Such advances may be made, repaid, 1Ind remade from time to time, subject to the limitation that the total outstanding balance owing 1It 1Iny one time, not Including finance charges on such b1llance at a fixed or variable rate or sum as provided In the Credit Agreement, any temporary overages, other charges, and anY1lmounts expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not exceed the Credit Limit as provided in the Credit Agreement. II Is t!"le Intention of Grantor 1Ind Lender that this Mortgage secures the balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit JIS provided in the Credit Agreement and any intermediate balance. Grantor presently lIssigns to Lender all of Grantor's right, litle, and interest in and to all present and future leases of the Property and 1111 Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property lInd Rents. THIS MORTGAGE, INCWDlNG THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFDRMANCE DF EACH OF GRANTOR'S AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED QN THE FOLLOWING TERMS: GRANTOR'S WAIVERS. Grantor waives all rightS or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other law which may prev~nt Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after .Lender's commencement or completion ,ofany foreclosure. action, either judicially or by exercise of a power of sale. ". . GRANTDR'S REPRESENTATIDNSA.ND VVARRANIIES. Grànto(warranis that: (a) thisMortgågeiseJCëcuted lit Borrower's requesi.and notll! the request of Lender; (b) Grantor has the.full power, right, and authority to enter intò this Mortgagè and to hypothecate the Property; (c) the provisions of this Mortgage do not conflict with, or result in a default under any agreement or other instrument binding upon Grantor and do not result in a violation of any law, regulation, court decree or order applicable ,to Grantor; (d) Grantor has i3stablished adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to Grantor lIbout Borrower (including without limitation the creditworthiness of Borrower). . PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Borrower and Grantor shall pay to Lender all Indebtedness secured by this Mortgage 115 it becomes due, and Borrower and Grantor shall striclly perform all Borrower's and Grantor's obligations .under this Mortgage. POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Grantor agree that Borrower's and 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) .use, operate or manage the PropertY;lInd (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. Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of the Property, there has been no .use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person on, .under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe that there has been, i3xcept as previously disclosed to lInd acknowledged by Lender in writing, (a) any breach Dr violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, lIbout or from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of lIny kind by any person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on; under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable federal, state, lInd local laws, regulations and Drdinances, including without limitation all Environmental Laws. Grantor authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to tletermine compliance of the Property with this section of the Mortgage. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability 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) releases and waives any future claims against .Lender for Indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any lInd all claims, losses, liabilities, tlamages, 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 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 the Mortgage,' including the obligation to indemnify, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien, of this Mortgage and shall not be . . '. , ; 091.6217 MORTGAGE (Continued) dSsr Loan No: 40000374 COGe?? Page 2 affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise. Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping' of or waste on or to the Property or any pprtion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the rigN tò reri1ove:.~'ny timb~r'"'1i~era!s (Inc.luding oil and ga~), coal, clay, ~coria, sOil,gr,av~! or rock, prQducts wit~C!u,t, ~end~(~,:prlor writte,n conSll,n!,. . ~ ',',.;.. . ...., ",. ....,. :: .'-,' '," .".. .', ..,.. "''''-'''-',':.'~ . ,- -....,:-. -"".--,...~,.,._~, ... ··j·.·.o,.,·.¥.·· ".;, f:lemQValof)!1Ìpr~~~~ents,., ~fantoi:,;>h~l! ,not ~emolisti or remove any Im~rovemeríts from the RealProperíy ~ithout Lender's prior written copsent" "{'::'$ aco!'!d1h9n;tp t~e,r!'~.8v8:t·W ~nY)I\I~r?vem~nts, Lepde[ may r~qulr~. ~r,an,I.?r !() .ma~~ .s,rran~~l1Jel1ls s!\t!~faç'pry tp,. ~ender t,o r~p',I~cE!, ;; ~;l!c~·,lrr~rOve!T1ery'~,-Y",Jtl1..]~pr()~~"-1E!~ts ~~..I!t.le?~t egH~1 valu~.,:, " "~,' ,';; ,;' :;j:;: ":',:, ',',':,,;,:,:, ':., ,'. '.:' , ,. .,; ..., Lender's Right to Enter. Lender. and Lenderis agents and representatives may enter upon the Real Property at all reasonable times to attend to Lender's Interests an~ to inspect the ReaJ Property for purposes of Grantor's compliance With the terms and conditions of this Mortgage. Compliance with Governmental Requirements. Grantor 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 wiU)hold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender 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 set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property. ' DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all Sums secured by this Mortgage upon the sale or transfer, without Lender's prior written coìlsent, of all or any part of the Real Property, or any interest in the Real Property. A "sale or transfer" means the conyeyanceof Real Property or any right, tille or interest In the Real Property; whether legal, beneficial or equitable; whether voluntary or involuntary; whether by oùlright 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 tille 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 excep,t fo[ the I.ien of taxesa~d assessments not due as further specified in the Right toContestparagraph.,. ,.... \ ,.~. ,:. ~¡'Q~t. t~' 9ini,est.,·<3ra~t9r,,~,ay~¡!hh9.idpax~~~t pI ~!1X: ta~~ ~ssessment, orclairìi. ¡ncOnl1~ctl.on ~it~ '~. gpo,d faith"dispu,ìe: 9.ve~ thèobligatiôri. t9' pay,'!;o long'as Lender'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, ¡f a lien is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash ora sufficient corporate surely bond or other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and reasonable attorneys' fees, or other charges. that could accrue as a result of a foreclosure or sale under the lien. ,;In any contest, Grantorshall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment. Grant~r 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 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 deliver to Lender certificates of coverage from each insurer containing a stipulation that coverage will not be cancelled or diminished without a minimum of ten (10) 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 cQverage in favor of Lender wilt not be impaired in any way by any act, omission or default of Grant,or or any other person. Should the Real Property be located in'an area designated by the Director of the Federal Emergency Management Agency asa speCial flood hazàrdarea, Grantor agrees to obtain and maint¡¡in Federal Flood Insurance, if available, within 45 days after notice is gi~en by Lender that t~e Property is located in a, special flood hazard area, for .the maximU,m amount of your credit line and the' full unpaid principal balance' of a'ny prior liens on the property securing the loali;up to the maximum polley limits set under the National Flood Insurance Program, or as otherWise required by Lender, and to' maintain such insurance for .thetermoflhe loan, '.' , , . '" .' Ap'¡ihca'tlonof pròceeds.Gr~n'tbrs~a¡'1 pro~plly'notify'Lehder'of any ioss or' damage to'the Property if the estimated cosfof rep~lror' 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 satisfactory proof of such 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 after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Mortgage, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as 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 instrumentevidencing spch Existing Indebtedness shall conslituteconìpliance 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 prbceeds shall apply only to th'at 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, (B) to provide any required insurance on the Property, (C) to make repairs to the Property or to comply with any obligation to maintain Existing Indebtedness in good standing as required below, then Lender may do so. If any action or 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; (B) be added to the balance of the Credit Agreement and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Credit Agreement; or (C) be treated as a balloon payment which will be due and payable at the Credit Agreement's maturity. The Mortgage also will secure payment of these amounis::The Hghts .provi~edfor..in ihisparagraph shall be ¡'naddit¡o~, to¡¡ny otherrights or any rem~d!es to which.Lende~ may be entilledon' account of 'any 'default. AriysuCh action by Lender shall not be 'construed as curing' the default so as to bar Lender from ¡my reme~y,!r!ltit:9\h~,~iseWQl,lldJ)ay,eþad. "',:.,:;';";..:).:';.,.. . .' . ,'. .,.. " .', " ,.., " W ARRANTYj DEFENSE OF TITLE. The following p'ròvisior'ÍS :relating tò ownership oflhé Prop'årìy are'àl)!ir(ofihisMortgåge': "',:;" - ,q..:: ;. ,'.'-' ¡' Tltlè. Grarìtôr wår'r'anis that: (a)'Grantorholds'goodand'märketable litle of record'to' the Prope.rtŸ irî'feesimple;free and clear of all liens and encumbrancès otlièr than those set forth in the Real Property description or in the Existing Indebtedness sectfor) b~low or In any title Insurance polley, tille report, or final title opi~ion 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 Mortgage to Lender. . Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the tille to the propert}\a~l!inst the , , '..1 1~'¡', 01 ~~i!m;m~¡!~f!¡~~ r·"·...····,· .~:!ri;;it¡Wim;f;¡:::.-:;' ~::i;::::;t~;:::;:¡:;!. ~;:~;:!::~;:::~W~!1: Loan No: 40000374 091.6217 MORTGAGE (Continued) rAOO·I"18 \.... '.} } . I Page 3 lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's tille or. the interest of Lender under this Mortgage, Grantor shall' defend the action at Grantor's expense. Grantor may be the nominal party in . suCh. pr()ceeding, but, Lenderst)allbe entilled to partiClpate'ln the proceeding and to be represented in the proceedingby counsel of lender's own choièe, and Grantorwill'deiiver; or cause to be delivered, to Lender sÙch ìristrumentsas Le'rider may request from time to time 10'permit such pariicipation: ,.... '.. " Compliance With' Laws.' Grantorwårrahts::thär the Property'aridGrantOr's Use dftiìél':%pertý'Cårrtþiies'wit/Ì':äìl existing applicable laws, . ordin~~ce~,and regul~ti9m; of gqv!3rnmental authorities. ": ,.,'- .... -.' " . - ,:- , '. -.', - - '- . ' '. .. '.' . ~ .: - .' . :, .' . . - - -' : 'Survlvaí of Promises. Allpromisås,agreáni9nts, andstäteménisG~antor hasmadêinthiÚÀo¡'tgåge;shall'survive the,executiori 'and delivery Of this Mortgage, shàll be continuing in nature'åridstia' i remaìn in full force' and effect 'u'ntil such limåas aorrower's Indebtedness is paid in full. .··.:'1.,'. <~: ..,'. ,- "~,!:.: -....'..~~.;;:)..;' ~;';t.,:.,-" . '__'.,'.......,;.'.:;';..'.,......,;'..,.:,:......'_;":;' ":" '!,;" ','~ <'".,' ';' EXISTING INDEBTEDNESS. The following provisiC?nsconcerning Existing Indebtedness are a part of this Mortgage: Existing Lien. The lien of this Mortgage securing the Indebtedness may be secondary and Inferior to an existing lien. Grantor expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any defaull on such indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such indebtedness. No Modification. Grantor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security agreement which has priority over this Mortgage by which that agreement is modified, amended, extended, or renewed wllhoutthe 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. CONDEMNATION. The following provisions relating tq condemnation proceedings are a part of this Mortgage: Proceedings. I! any proceedin¡;jin condemnation is filed, Grantor shal !promplly notify Lender in writing, and Grantor shall promplly 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 entilled to participate In the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause. to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation.' , . Application of Net Proceeds. I! 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 require 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, and allorneys' fees incurred by Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges are a part of this Mortgage~ '. , , .. ..., . . . . . '. _, '" Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and take whatever other' actlon'is requesteqby Lenç er to perfect.~nd, continue Lender's lif:m on the Real Property. Grantor shall! reimburse Lender. fOLall taxes'; as desCribed below, together with all expenses incurred in recording, perfecting or continUing this Mortgage, iricluding withdutlimitation all taxes,fees;documentarystamps¡ and other charges for recording or registering this Mortgage., . .....' , , '" ...: ", ': . ~:., ..-'~ :.', .::. :.~ " .;-- ¡--,(..~ :";',i'·';:~·· ' :';"":,:'."- :.\',:" :':" . :'__"¡,".: ~". .....::'.:'>.; ~,'.~::,.'..,,,: C-' :_:i~ I·~.: ....: ".' ¿':: :,;I.;:I,:.~,'",:~, ," :,:.:/"..,·.a·:.1 :~J Taxe!!.. The follÖwlngshall,conshtute taxesJo Which t~IS se.chon applies; (1)} sp~ql,(lç,ax uponthJs,tYP,e of fy1or.tgage O~ upon a!1 (),r,al)ypart,~f the Indebtedness' secúredbyt,his, "'1,ortgágè; l (2) .a specifiè tax bjl'Borrower. y¡hich Borrowerìs' Íiúthorizëdqr. iequireéfté) deduct fro'rÌ1 payment's on the Indebtedness secured by this typ.e of Mortgage; (3) a tax öri this type of Mortgage chargeable againstthé Lênde'r or thé holder orthe 'Credit Agreement; an,d(4) a Specif!c tax o.ri all or ,any portion of the Indebtedness or on payrj1ent~' ófprlncipal and interest made by Borrower. '. Subsequent Taxes. I! any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before II 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 STATEMENTS. The following provisions relating to this Mortgage as a security agreement are a part of this M~~ . .,. Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party uncjer the Uniform Commercial 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 addition to recording this Mortgage in the real property 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 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 convenienUo 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 (seèured party) from which 'information concerning the security interest granted by this Morfgage may be obtained (each as reqµired by the Uniform Commerci¡liCode)ar~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:.. ,", ..' " ~"""i""" .;;,....,.," _," .'" .>.-:o.:;"...'..:.":...."'.,.~ '.' "" .,."... Fùrthe(AssÙrances. . At any time, and from time to til)le, 'upon request of Lènder, 'Grantor will màke, execute ånd deliver, or will cau'se to be mace, executed or' delivered, to' Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or . rerecorded, as the case may be, at such times and in such officésand places as Lendermay"deem appropriate, any and all such mortgages, deeds of 'trust, security deeds, security agreements, financing statements, continuation 'statements,' iristrumeritsof further assurancè, certificates, and other documents as may; In the sole opinion of Lender, be necessary or desirable in order to effectuate, éomplete, perfect, 'cÖntinue,'Or preserve (1) Borrower's and Grantor's obligations under the Credit Agreement, this Mortgage; and the Related Documents, and (2) the liens and security interests created by this Mortgage on the Property, whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to In this paragraph. Attorney-In-Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the purpose of making, executing, delivering, 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 Borrower.and Grantor pay ¡¡II the Indebtedness ·.When ,due, terminates the credit ,line ~ccount, and Grantor otherwise performs all the obligations imposed upon Grantor under this Mortgage, Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Grantor will pay, if permitted by applicable law, any reasonable termination fee as determined by Lender from time to time. EVENTS OF DEFAULT. Grantor will be in default under this Mortgage if any of the following happen: (A) Grantor commits fraud or makes a material misrepresentation at any time in connection with the Credit Agreement. This can include, for example, a false statement about Borrower's or Grantor's income, assets, liabilities, or any other aspects of Borrower's or Grantor's financial condition. (B) Borrower does not meet the repayment terms of the Credit Agreement. (C) Grantor's action or inaction adversely affects the collateral or Lender's rights In the collateral. This can include, for example, failure to maintain required insurance, waste or des!ructive use of the dwelling, failure to pay taxes, death .of all persons liable on the account, transfer of tille or sale of the c:Iwelling, creation of a seni9r lien on't~e dwelling without Lender's permissiçn,foreclo.sure by the holder of another lien, or the use offund~:orthedwellingJor'prohibitedpùrposeso,,·:· ·: .,..... ",', ,'..'. .:," ,', ' . '," '..:....:, - , -...' '.' _. ," .- .- -. . . _.',~. :, ,) . . .1 "J.~ .¡. , .., (.",.. ) ,- .' , . . . '_'.' ", RIGHTS, ~NDREMEDlE~ O~ DÈFAUL T: \JpontlÌe()~currenqeof an Event of Default and at any time thereafter but subject to any limitation in the CreditAgreem,er;¡t or any limit¡¡tio!l. in. this Mortgage., ,l:ênder,at Lender's option, may. exercise. any, one, gr more. of the follqWing right~and remedles,.in addit\,o,~to:a~y;~t~,~rright~..or:~e:rned~~1>;p;~pViged ~ý'av.:L;: :' ,. ...,. '. .;: ~ ' .' ".1 :'::,;.:: '.;~ .' ',. "::¡-;: Acct;'lerate, 'Í1d~~ledn~s~. Lel)der shall.häve the righi Ilt its option without notice.to Grant()r to declare the.~ntire,lridebtednessimmediatelydue and payable;inCiuÇ!ing arìyprep~ymènt p,enalty which Grantor would be required to' paý.·' '. ....., ..,1.' -, ¡ .:,., <,. ,"" .'..... ,: ,..., . ~.' . ., .... '. ' . ' . - . . . '. '- . '. ,~, ',- ~ .~. .;. ¡, ,;., ~. . UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the righ'ts and remedies of a secured party under the Uniform Commercia! ,Code. " , Collect Rents. Lender shall have the right, without notice to Borrower or Grantor, to take possession of the Property, including during the pendency of foreclosure, whether judicial or non-judicial, and collect the Rents, including amounts. P.llst,~ue .a~d unpaid, and apply the net , I.' ~ ,..' " I", .' ~~ ';.;;<\"\'~ 09:t621 ? Loan No: 40000374 MORTGAGE (Continued) C00079 Page 4 proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may reqûire 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 endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments ~r~..rl1ade, whether or not IIny proper grounds for the demand existed. Lend~r. may exerci!;£!)ts right~U,Jnder this s\Jbparllgraph either in person, by agent, or through a receiver. Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the power to '. protect and preserve the Pfoperty, 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 of the 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 amount. Employment by Lender shall not disqualify a person from serving as a receiver. Judicial Foreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest in all or any part of the Property. Nonjudicial Sale. Lender may foreclose Grantor's interest in all or in any part of the Property by non-judicial sale, and specifically by "power of sale" or "advertisement and sale" foreclosure as provided by statute, . . Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebtedness due to Lender after application of all amounts received from the 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 other rights and remedies provided in this Mortgage or the Credit Agreement or available at law or in equity. Sale of the Property. To the extent permitted by applicable law, Borrower and Grantor hereby waive 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 saie or by separate sales. Lender shall be entilled to bid at any public sale on all or any portion of the Property, NoJlce 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. ,',"" .", ~Ie'dion of Remedies., .All. pf, L.ender's rights and remedies will be cumulative and may be exercised alone or together. An election by Lender to ,çhoose, àny one remedy' will not ,bar Lender' fromÜsing any other 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. AtJorneys' Feesj Expenses. If Lender institutes any s.uit 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 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 date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable iaw, Lender's reasonable attorneys' fees and Lender's legal expenses whether or not there is a lawsuit, including reasonable attorneys' fees after default and referral to an attorney not Lender's salaried employee and expenses for bankruptcy proceedings (including efforts 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 additi()n to all other sums provided by law. NOTICES. Äny 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 actually received by telefacsimile (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 address for notices under this Mortgage by giving formal written notice to the other person or persons, specifying that the purpose of the notice is to change the person's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise 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. II will be Grantor's responsibility to tell the others of the notice from Lender. MISCELLANEOUS PROVISIONS.. The following niiscellaneous provisions are a part of this Mortgåge: , . . ~ '. .'.' . . . . . ,- -'. " t Amendments. What is written in this Mortgage and in the Related Documents is Grantor's entire agreement with Lender ,concérning the matters covered by this,Mortgage. To be effective, ~ny change or, amendment to this Mortgage must be in writing and must be signed by whoever will be bound or obligated by the change or amendment: ' Captioh'Headlngs. 'Cáption'headings in this Mortgåge are for convenience purposes only and are not to be used to interpret or define the provisions of this Mortgage: ", ,. " .. . . . . Governing Law. This Mortgage will be governed by federal law applicable to Lender and, io the extent not preempted by federal law, the laws of the State of Wyoming wlthoul regard to Its conflicts of law provisions. This Morlgage 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 jurisdiction of the courts of Teton County, State of Wyoming. Joint and Several Liability. All obligations of Borrower and Grantor under this Mortgage shall be Joint and several, and all references to Grantor shall mean each and every Grantor, and all references to Borrower shall mean each and every Borrower. This means that each Borrower and Grantor signing below is responsible for all obligations in this Mortgage. No Waiver by Lender., Grantor understands Lender will not give up any of Lender's rights under this Mortgage unless Lender does so In writing. The fact that Lender delays or olT!its to exercise any right w,iII not mean thf./ì Lender has given up that right. II lender does agree in writing to give up one of Lender's rights, that does not mean Grantor,! will not have to comply with the other prQvlslons of this. Mortgage. Grantor also understands that if Lender does consent to a request, that does not mean that Grantor will 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 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 of exemption from execution or similar law in the Property, and Grantor agrees that the rights of Lender in the Property under this Mortgage are prior to Grantor's rights while this Mortgage remains in effect. Severability. If a court finds that any provision of this 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 Mortgag~ may ~e found to be Invalid or,u~enforceabl~. . .' " ," ., ',', , Mergér. There shålf be ñomerger of the interest ,or E1state created by this Mortgage with any other iflterest or estate in the Prop~rtÝatany time heldbyor'for thebE!~'e(¡ .ôf L~f1~er ¡na~y_c¡¡paè!ty, WII!1~Últhe written conserí! of Lender..., ,.'.,-,'" ." " '. . Successors and, Asslgfls. Sul;ljecttoany limita!ions stated in this Mortgage on transfer of Grantor's Interest, this Mortgage shall be binding upon and:irï~r~~o'íhe b~rì~fii.ôithe-par!ì~s,'their~Ûc~e~~ors afld a:;signs, ,If ()wnershipA~t~eP.rºper.lY,b!3i;oni~s¡'~st~q in a per:;poother than Grantor,; Lender, wltho~L.nohcet() Grantor, 'maydeal, with Grantor's successors with reference: to . this Mortgage . ar;1d ¡ the· Inqebtednesshy way of forbearance or e~tensìón withoutrele~slng Grant,or from t~~ obligations of this Mortg~ge orliabilily u,nâerthe.!ndebte,dness:, ' " ' Time Is of the Essence. Time is o(tlie essenèe'in thè performance 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. !.,~ ~ '.-. ~ '.: \.. t.. ~ 8j~ril~E ~~~~i~~iœ~! ::;::¡!~::1::~~~:m '~"+" "~n' 'I' nü1621.? Loan No: 40000374" J « MORTGAGE (Continued) C00080 Page 5 DEFINITIONS. The following words shall have the following meanings when used in this Mortgage: Borrower. The word "Borrower" means Sarah D. Scott; Sarah D. Scott Living Trust, dated October 1, 2004 and any amendments thereto; and W,illiam J. Sc~" and iricludes all co-sl~ners and co-maker~ signing the Credit Agreement andal! th~lr successors. and assigns. ,ëredU. AøreelT1ent. T-he w~rds'lcreditAg~EI~ment", ~el:l.nt~ecredit agreement dåtedFebru~ry'9, 20{)6, with credit limit of$2~3,500.00 frpm, Borrower toÜinder, together with. all renewals of, extensions of, modifications of,refinanCings of, consolidations of, and substitutions for the promissory note or 8.grelj!merit.NOTiCE TO: G'RM-fTOR: 1~E CREDIT AGREEMENTGO~T AIN,~ A. VARIABLE INTEREST RATE. Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environmént, incliJding wiihòutlimitation 'the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, at seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of Default. The words "Event of Default" mean any of the events of default set forth in this Mortgage in the events of default section of this Mortgage. Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this Mortgage. Grantor. The word "Grantor" means Sarah D. Scott Living Trust, dated October 1, 2004 and any amendments thereto; and William J. Scott. 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 Pfesentor potential ha;¡;l:I.rd to human health or the envirollment when Improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled~ The words "HaZ irdous 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 Laws. The term "Hazardous 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 on the Real Property. Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses 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 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. Lendêr. The word "Lender" means The Jackson State Bank & Trust, its successors and assigns. The words "successors or assigns" mean any 'person or company that acquires any interest in the Credit Agreément. ..,' , .,' .' 'Mortgáge.· 'The word "Mortgåge'; meå,iis ¡hi's ,Mortgage bet~een Grantor and Lender. , . . . '. . .; .." ;'-.' !.'.,' , -.,.. ': . ','" .;, ", ; . ';. . . .;. : ." _. ':, . I I; -,.! .;, Personal Property. ,The words "Personal Property" mean all. equipment,lixture,s, 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 Properly and the Personal Property. Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Mortgage. Related Documents. The words "Reiated Documents" mean all promissory notes, credit agreements, loan agreements, environmentai agreements, guaranties, security agreements, 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 Indebtedness. Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property. EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISiONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES TO ITS TERMS. GRANTOR: TED OCTOBER 1, 2004 AND, ANY AMENDMENTS THERETO ~c:7 /.5? RUST ACKNOWLEDGMENT STATE OF L<JVÔ.rJ1J/tf COUNTYOF '/ £ r-cf>1 ) ) SS ) .......---....,.'..., .' -........".- t:óR ,¿,""ÈR'NòTÃ" PU,"C COUNTY OF STATE OF TETON WYOMING ",,;;';;..¿,. ,""",' ;",us> ". "'" ~......::=':'::."7~~'-;' - -. .., --(:;;i¡ On this ~. day of' F&:L; , 20 ð 0 ,before me, the undersigned Notary Public, personally appeared Sarah D. Scott, Trustee of Sarah D. Scott Living Trust, dated October 1, 2004 and any amendments thereto, and known to me to be an authorized trustee or agent of the trust that executed the Mortgage and acknowledged the Mortgage to be the free and voluntary act and deed of the trust, by authority set forth in the trust documents or, by authority of statute, for the uses and purposes therein mentioned, and on oath stated that he or she is authorized to execute thi ortgage and in fact executed the Mortgage on behalf of the trust. :; '.' Residing at II?... '. Ce-~ S'J My,co'mmlssionexp!rës.· '. k I ~t' 'Qc.t"~ '-'.Ý Ebl:J1 By '7 Notal'Y~Ubllc In and for Ih~ State of. . '. .''), \ .. . . . i.'; .!.... , .. "" (.. . > ..: . .,. . .,.... " ;." .. .""!¡ t t 1 j . ..o..f" I J , ' 9. .~ <'..1 Loan No: 40000374 091.621 ? MORTGAGE (Continued) C00C81 Page 6 INDIVIDUAL ACKNOWLEDGMENT ~ORP G~",'uc ) COUNTY OF STATE OF ) SS TETON WYOMING I '" COM"'".~S '". '"SO "'''' ~, Si4~ ¡J,SC!ð I. I ~ ~':::-rr.-o-~-:¡:¡-:::=¡:<óE--~""-' On this day before me, the undersigned Notary Public, personally appearedÎwllllamJ. Scott, to me known to be the individual described in and who executed the Mortgage, and acknowledged that he or she signed the Mdrtgage as his or her free and voluntary act and deed, for the uses and purposes therein mentioned. d Given under my h:2nd and Of~?" " Ihls 9' By >-;7 A '~-l __,. ¿ ..-- . Notary Public In and for the State of Lv YO/"t r,..v b STATE OF Ú'.J Y'P ~ /.;1 f COUNTY OF ~~ day of -r~ ,20Dw . Residing at i 1'"1. c: ~~ ç¡-' ~Cf<5.:,/V Iv)" My commission expires go ;108' . . &')ca\ LASER PRO Llnding, Ver. 5,30.00.004 Copr. Harl.ndFIn.llnci.1 Solulionl,lne. uta?, 2006. AI' Righi' Au.rv.d. . WY C:\CfnLPL\GO.J.fC TR-1071S PR-78 , .' ,'.... ,:.\ ',I ~f;¡mm~~~~~~~i~~¡ 091.621.7 C00082 LIMITED POWER OF ATTORNEY TO REFINANCE/SALE/PURCHASE REAL PROPERTY THE STATE OF WYOMING ) ) COUNTY OF LINCOLN ) THAT I, William J. Scott, whose residence address is 447 Aspen Hill Drive; Alpine, WY, principal herein, do hereby make, constitute and appoint Sarah D. Scott, my wife, whose residence address is: 447 Aspen Hill Drive; Alpine, WY, my true and lawful Attorney-in-Fact for me and in my name, place and stead, to do any and all things necessary in connection with the sale/purchase/refmancing of the following described real property or properties: 6673 Highway 49 North; Mariposa, CA 95338-9599 and 447 Aspen Hill Drive; Alpine, WY 83128. The specific powers conferred hereby shall include, by way of illustration and not by way of limitation, the following: 1. To exercise, do or perform any act, right, power, duty or obligation that I now have or may acquire the legal right, power or capacity to exercise, do or perform in connection with, arising out of or relating to the sale/purchase/refinance transactions. 2. To make loan application required by the proposed lender or lenders, whether such loan is to be conventional or otherwise, to execute a Note in favor of such lender or lenders in an amount not to exceed Five hundred thousand AND NO/I00 DOLLARS ($ 500,000,00), evidencing moneys advanced to pay all or part of the existing indebtedness on the Property, and where applicable all or part of the points and closing costs, obligating me to pay such amounts on such terms and at such rate as my Attorney-In-Fact deems appropriate, to execute a Deed of Trust\Mortgage\Security Deed pledging the Property as security for the above referenced loan on such tenns and conditions and under such covenants as my Attorney-In-Fact deems appropriate, to insure the Property, to execute a closing statement, to execute a Truth-In-Lending Disclosure Statement, To execute my Notice of Right to Cancel said transaction, and to execute such other instruments as the title company and lor the lender of lenders and/or any other interested parties might require. 3. To pay, set over and deliver all sums of money which have or may become due and owing by me, arising out of such sale/purchase/refinance transactions, and to settle any dispute and compromise any and all claims in connection therewith as my Attorney- In-Fact may deem proper. ,·.·:'il¡·I'¡·¡·J·í!l·il':~·"¡~.:'Ò_·'\·I..-'~~i!~'j:!;¡.!\~\ffl¡' I.."<'r.i~n~'~_~::~;.:.:~',..~___ ""·"'-:-';-~:j):;-'{;~-;"'iS\~JIi/[..,'<1."':' , " -:~:-". .-..:_' ':'¡1""¡';'"~'¡''';''.''''' , ';:¡;~/":§"~~'-~Ø!-;"n..'1if:";:}!'!'';~':¡,~.:+o;<; .....,.....ï..;, .. .:,., .:._":'::..~..1~..'t!;t;~;t:;-:¡':";,~\;·.:.::;r:\,r.;, "ii'·· ~:'':'.~,:· ::~.."!'!'~ ~:'.:' 091.621.7 rO,n(~83 \.. ; \. l. 4. I specifically authorize my Attorney-In-Fact to execute on my behalf a Notice of Right to Cancel (or similar instrument) advising me as to my right to cancel said transaction and I further authorize said Attorney-In-Fact to exercise said right to cancel. Should my Attorney-In-Fact not exercise any such right, I agree with any lender that I shall not thereafter have the right to cancel said transaction. 5. To take such other action in connection therewith as my Attorney-In-Fact may deem to be necessary or desirable. I hereby revoke any and all powers of attorney heretofore made by me authorizing any person or entity to do any act relative to the above-described property or any part thereof. I hereby give and grant to my said Attorney-In-Fact full power and authority tó do and perform all and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as I might or could do if personally present, hereby ratifying and confirming all that my said Attorney-In-Fact shall lawfully do or cause to be done by virtue of this Special Power of Attorney and the rights and powers herein granted. I further give to my said Attorney-In-Fact full power and authority to appoint a substitute to perform any of the acts that the said Attorney-In-Fact is by this instrument empowered to perform, with the right to revoke such appointment of such substitute at the pleasure of my Attorney-In-Fact. I hereby agree to indemnify any third party and further give to my said Attorney- In-Fact full power and authority to indemnify and hold harmless and third party who accepts and acts under this Special Power of Attorney for and claims that arise against the third party because of reliance on this Special Power of Attorney. The Attorney-In-Fact named herein shall not be obligated to furnish bond or other security. This Special Power of Attorney shall not be affected by and shall not terminate on the disability or incapacity of the principal. TillS IS A DURABLE POWER OF ATTORNEY. This special Power of Attorney shall be effective from the date hereof until its expiration, which shall be for TIDRTY (30) days from the date hereof, unless sooner terminated by a formal written Notice of Revocation duly executed and filed in the office of the County Clerk of the County in which the Property or Properties is located. Revocation in the forçgoing manner shal~ be effeçtive as tQ any thirq. party relying on this Sp~cial Power of Attqrney. ' EXECUTED this d 7 day of January, 2006. ¡¡::::mm~;;::;~:;::;¡ t'·;':·!':¡:.:1!,!,!,:¡t¡ ~, ~ ...·.,<·:I:'·I;,:.~.~". '-".:," '~-'·,i·;:;':~:-:,~: __.,_ ....., . ',"._~~ß.::;':.~>·.· r... 091.6217 . ,~-' . ~'~':':I:':':'~ 0:" . ',.\';(';",,1,;:::':-;0,'1:'.' .:..:!.. "~:;:'.:"': .<.'>.;.¡... :,'_'-- _,{... '~ ¿3:..1.<:L.~~:··:-,,_~ ;:_'_:;. . ': '.'_:_ ,Î.:.lj:ô~:I.:'~~:'¡.:. C00084 proNCœALACKNO~EDGMENT THE STATE OF WYOMING ) ) COUNTY OF LINCOLN ) This instrumen was acknowledged before me on the 21 day of ~tl(f' 20-12/¡L by . '/ . ANJI iAVI.OR NOTA"V IJI.IC COUNTY OF ~ STATE OF LINCOLN ~ WYOMING MV COMMISSION EXPIRES AUG 3. 2009 My tz;i~ 1~sr .~~ C2 ~-4 William J. se6ft .