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RECORDATION REŒUESTED BY;
RRSTNATIONALHANK-WE1r
Kemmerer
71& Pine AvenuEf
Kemmerer, WY 83:10T
WHEN RECORDED MAIL TO;
RRST NATIONAL HANK - WEST
Kemmerer
71 & PiI1Ef AV&nUEf
K...IIIII....... WY 83:T01
REC8VED 3/7/2006 at 4:07 PM
RECBVING#: 916479
BOOK: 613 PAGE: 806
JEANNE WAGNER
UNCOLN COUNTY CLERK, KEMMERER, WY
SEND TAX NOTICES TO:
RRSTNATIONAL HANK - WE1r
Kemmerer
71& PinEf AV&nUEf
Kemmerer, WY 83101
SPACE AHOVE THIS UNEIS FOR RECORDER'S USE ONLY
MORTGAGE
THIS MORTGAGE dated March 7, 2006, is: madE! and executed between DAVIn B. LUNDGREN and KIMBERLEY C.
LUNDGREN, whoSE! address: is: SOg ONYX STREEr, KEMMERER, WY 83101 (referred to below as: "Grantor") and
ARST NATIONAL BANK - WEST, whoSE! address: is: 716 Pine Avenue, Kemmerer, WY 83101 (referred to below as:
"Lender") .
GRANT OF MORTGAGE FOrvaluablEf consideratiorr, Grantor mu.ly..ges and conveys ta Lender all. of Grantor's right, title., and interest in and fa
tha following described real· property, together with all axisting or subsequently erected or affixed buildings, improvements and fixtures; all
easements, rights' of way, and appurtenances; all water, water rights', watercourses and ditch rights' (including stock in utilities with ditch or
irrigation rights); and all other rights', royalties, and profits: relating to tha real property,. including without limitation all minerals, oil, gas,
geothermal and similar matters, (thE! "Real Property") located in UNCOLN County, Stam of Wyoming:
LOT 7 OF BLOCK 2 OF FOWES OF 42 ADDITION TO THE TOWN OF DlAMONDVJllE,. UNCOLN COUNTY,
WYOMJNG AS DESCRIBED ON THE OffiCIAL PLAT THEREOF
ThE! Real Property or its address: is: commonly known as: 18 WEST FRONTIER STREEr, DJAMONDVrllE,. WY
83116.
Grantor presently assigns ta Lender all of Grantor's right, titla, and interest in and to all present and future leasas of tha Property and all Rents
from tha Property. In addition, Grantor grants ta Lender a Unifurm Commercial Coda security interest in tha Personal Property and Rents.
THIS MORTGAGE INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS
GIVEN TO SECURE (A) PAYMENT OF THE INDEB1EDNESS :AND (HI PERFORMANCE OF ANY AND ALL OHUGA TIONS UNDER THE N~
THE RElATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS~
PAYMENT AND PERFORMANCE Except as otherwisa provided in this Mortgage, Grantor shall pay to Lender all amounts secured by this
Mortgaga as they become dua and shall strictly perform all of Grantor's obligations under this Mortgaga.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and usa of tha Property shall ba governed by
tha following provisions::
Possessio" and US&. Until tha occurrence of an Event of Default, Grantor may (1) remain in possession and control of tha Property; (2)
use, operata or manage. tha Property; and (3) collect tha Rents from the Property.
Duty tIT Maintain. Grantor shall maintain tha Property in good condition and promptly perform all repairs, replacements, and maintenance
necessary fa preserva its: valua.
CompliancEf Wittr Cnvironmentai laws. Grantor represents: and warrants: to lender that: (1) During the period of Grantor's ownership of
tha Property, there has been no usa, generation, manufacture, Storaga, treatment, disposal, releas& or threatened releasa of any Hazardous
Substanca by any person on, under, about or from tha Property; (2) Grantor has no knowledga of, or reason fa beHave that: there has
been, except as previously disclosed to and acknowledged by lender in writing, (a) any breach or violation of any Environmental Laws,
(b) any usa, generation, manufactura, storaga, treatment, disposal, relaasa or threatened releasa of any Hazardous Substanca on, under,
about or from tha Property by any prior owners or occupants of tha Property, or (c) any actual or threatenad litigation or claims of any
kind by any person relating fa 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 tha Property shall usa, generata, manufactura, stora, treat:; disposa of
or releasa any Hazardous Substanca on, under, about or from tha Property; and (b) any such activity shall ba conducted in complianca
with all applicable federal, stata, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Grantor
authorizes Lender and its agents to enter upon tha Property to make such inspections and tests:, at Grantor's expensa, as lender may deem
appropriata fa determine. complianca of tha Property with this section of tha Mortgaga. Any inspections or tests: made by Lender shall bl!'
for Lender's purposes only and shall ncrt ba construed ta creata any responsibility or liability on tha part of Lender fa Grantor or to any other
person. Tha representations and warranties contained herein ara based on Grantor's due. diligenca in investigating tha Property for
Hazardous Substances. Grantor hereby (1) releases and waives any future claims against lender for indemnity or contribution in the.
event Grantor becomes liabla for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless lender
against any and all claims, losses, liabilities, damages, penalties, and expensès which lender may directly or indirectly sustain or suffer
resulting from a breach of this section oJ the Mortgaga or as a consequenca of any use, generation, manufactura, storaga, disposal, relaasa
or threatened releasa occurring prior fa Grantor's ownership or interest in tha Property, whether or not tha sama was or should hava bean
known to Grantor. Tha provisions of this sectiolT of the Mortgage, including the obligation to indemnify, shall survive. tha payment of tlla
Indebtedness and tha satisfaction and reconveyanca of tha lien of this Mortgage and shall ncrt b& affected by lender's acquisition of any
interest in tha Property, whether by foreclosura or otherwisa.
NuisancEfr WastlJ. Grantor shall ncrt cause., conduct or permit any nuisanca nor commit, permit, or suffer any stripping of or waste. on or fa
tha Property or any portion of tha Property. Without limiting tha generality of tha foregoing, Grantor will ncrt remova, or grant fa any other
party tha right to remova, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products: without Lender's prior
written consent.
Removal of Improvementt. Grantor shall ncrt demolish or remove any Improvements: from tha Real Property without Lender's prior written
consent. As a condition to tha removal of any Improvements:, Lender may requira Grantor fa make. arrangements: satisfactory fa lender fa
replaca such Improvements: with Improvements: of at least equal valua.
lelTder's Right to Enter. lender and Lender's agents: and representatives may enter upon tha Real Property at all reasonabla times ta attend
to Lender's interests and to inspect tha Real Property for purposes of Grantor's complianca with the terms and conditions of this Mortgaga.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
in effect, of all governmental authorities applicabla to tha use or occupancy of tha Property. Grantor may contest in good faith any such
law, ordinance, or regulation and withhold complianca during any proceeding, including appropriata 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 tha Property ara not jeopardized. lender
may requira Grantor to post adequata security or a surety bond, reasonably satisfactory to lender, to protect Lender's interest.
Duty ta Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts:, in addition to tho sa
acts set forth abova in this section, which from tha character and usa of the Property are reasolTably necessary to protect and preserva tha
Property .
DUE ON SALE - CONSENT BY lENDER, lender may, at lender's option, declare immediately dua and payabla all sums secured by this
Mortgaga upon the sale or transfer, without lender's prior written consent, of all or any part of the Real Property, or any interest in tha Real
Property. A" sala or transfer" means the. conveyanca of Real Property or any right, titla or interest in tha Real Property; whether legal, benaficial
I
Loary No: 88528000 O~j1.64 73
MORTGAGE
(Continued)
C00807
Page- Z
or equitable; whether voluntary or involuntary; whether by outright salE!', deed, installment salE!' contract, land contract, contract for deed,
leasehold intemst with a term grnater than threE!' (3) years, lease-option contract, or by salE!', assignment; or transfer of any beneficial intemst in
or to any land trust holding titlE!' to thE!' Real Property, or by any other method of conveyanc& of an intemst in thE!' Real Property. However, this
option shall not bE!' exercised by lender if such exercis& is prohibited by federal law or by Wyoming law.
TAXES AND LIENS. ThE!' following provisions relating to th& taxes and liens on thE!' Property am 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 those' liens specifically agreed to in writing by Lender, and e'xcept for the' lien of taxes
and assessments not due' as further specified in the' Right to Contest paragraph.
RigM t17 Contest". Grantor may withhold payment of any tax, assessment, or claim in connectiolT with a good faith dispum over the'
obligation to pay, so long as Lender's intemst in thE!' Property is not jeopardized. If a lien arises or is filed as a result of ITonpayment,
Grantor shall within fifteeIT (15) days after thE!' lielT arises or, if a HeIT is filed, withiIT fifteeIT (1 õ) days after Grantor has noticE!' of the' fililTg,
SEfCUrE!' thE!' discharge. of thE!' lieIT, or if requested by lender, deposit witlT Lender cash or a sufficient corporate surety bond or other security
satisfactory to lender iIT aIT amount sufficient to discharge' thE!' HeIT plus any costs aITd reasonabl& attorneys' fees, or other charges that
could accruE!' as a result of a foreclosure or sal& under th& lien. In any contest, Grantor shall defend itself and LeITder and shall satisfy any
advers& judgment before enforcement against the' Property. Grantor shall namE!' Lender as an additional obligee' under any surety bond
furnished iIT thE!' contest proceedings.
Evidence of Payment. Grantor shall UpOIT demand furnish to lender satisfactory evidenc& of payment of tlTE!' taxes or assessments and slTall
authorize the appropriate governmental official to· deliver to Lender at any timE!' a written statement of the' taxes and assessments against
th& Property.
Notice of COnstruct/OfT, Grantor shall notify lender at least fifteeIT (1 õ days befom any work is commenced, any services am furnislTed, or
any materials are supplied tcr th& Property, if any mechanic's lien, materialmen's lien, or other lien could bE!" asserted OIT account of tha
work, services, or materials. Grantor will UpOIT request of Lender furnislT to lender advaITc& assurances satisfactory to Lender tlTat Grantor
can and will pay the' cost of suclT improvements.
PROPERTY DAMAGE INSURANCE. ThE!' following provisions relating to insuring tlTe Property am a part of this Mortgage:
Maintenance of Insurance. Grantor slTall procure and maintain policies of fim insuraITc& with standard extended coverage' endorsements OIT
a replacement basis for the' full insurablE!" value' covering all Improvements OIT the Real Property iIT an amount sufficient to avoid applicatiolT
of any coinsurancE!" clause, and with a standard mortgageE!" clausE!" iIT favor of lender. Policies shall bE!" writteIT by such insurance companies
and iIT suclT form as may be' reasonably acceptable' tcr leITder. Grantor slTall deliver to Lender certificates of coverage' from eaclT insurer
containing a stipulatiolT tlTat coverage' will not be cancelled or diminished without a minimum.of thirty (30) days' prior writteIT notice' to
Lender and not containing any disclaimer of the insurer's liability for failurE!' to give suclT noticE!'. Each insurancE!' policy alscr shall includE!" an
endorsement providing that coveragE!' in favor of lender will not bE!' impaired in any way by any act, omissiolT or default of Grantor or any
other persolT. Should the Real Property bE!' located ¡IT an area designated by thE!' Director of thE!' Federal Emergency Management Agency as
a special flood hazard area, Grantor agrees to obtailT and maintaiIT Federal Rood InsurancE!', if available, within 4!i days after noticE!' is giveIT
by lender that the Property is located in a special flood hazard area, for the' full unpaid principal balancE!' of the' loan and any prior liens OIT
thE!' property securiITg thE!' 10aIT, up to thE!' maximum policy limits set under the National Rood InsuranCEf Program, or as otherwisE!" required by
leITder, and to maintaiIT suclT insurancE!' for thE!' term of thE!':loan.
Application of Proceeds. Grantor slTall promptly notify lender of any loss or damage tcr the' Property if th& estimated cost of repair or
replacement exceeds $1,000.00. Lender may make proof of loss if Grantor fails to do so withiIT fifteen (1 õl days of tlTE!' casualty. Whether
or not lender's security is impaired, lender may, at lender's electiolT, receive and retain thE!' proceeds of any insurancE!' and apply thE!"
proceeds to the reductiolT of thE!' Indebtedness, payment of any lien affecting the Property, or the rE!'storatlon and repair of the Property. If
Lender elects to apply the' proceeds to restoratiolT and repair, Grantor shall repair or replac& th& damaged or destroyed Improvements in a
manner satisfactory to lender. Lender slTall, upon satisfactory proof of suclT expenditure, pay or reimbursE!' Grantor from the proceeds for
the' reasonablE!' cost of repair or restoratiolT if Grantor is not in default under this Mortgage'. Any proceeds which have not beeIT disbursed
within 180 days after their receipt and whiclT Lender has not committed to the' repair or restoratiolT of the' Property shall be' used first to pay
any amount owing to Lender undE!'r this Mortgage', theIT to pay accrued interest, and th& remainder, if any, shall be applied to tlTe' principal
balance' of the' Indebtedness. If lender holds any proceeds after payment iIT full of th& Indebtedness, suclT proceeds shall bE!" paid ttt Grantor
as Grantor's interests may appear.
LENDER'S EXPENDITURES. If Grantor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims,
(SI to provide any required insurancE!' on the Property, or (C) to make repairs to the. Property theIT Lender may do so. If any action or
proceeding is commenced that would materially affect lender's interests in the Property, theIT lender OIT Grantor's belTalf may, but: is not
required ta, take any action that Lender believe!i to bE!' appropriaœ 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!" Note' from the date incurred or paid by lender to the date of repayment by
Grantor. All suclT expenses will become' a part: of the Indebtedness and, at Lender's option, will (A) b& payable' OIT demand; (SI b& added to
the' balance' of the' Note' 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 ot thE!' Note'; or (C) be' treated as a balloon payment whiclT will be' duE!' and payablE!"
at the' Note" s maturity. Th& MortgagEf. also will secure payment of these' amounts. The' rights provided for in this paragraph shall be' in additiolT
tcr any other rights or any remedie!i to which lender may be' entitled on account of any default. Any such actiolT by lender shall not ba
construed a!> curing the' default: so as to bar Lender from any remedy that: it: otherwise. would havE!' had.
WARRANTY; DEFENSE OF TITlE. The following provisions relating to ownership of the Property are' a part: of this Mortgage:
Title. Grantor warrants that: (a) Grantor hold!i good and marketable title of record to th& Property in fee simple', free' and clear of all liens
and encumbrances other than tlTose. set forth iIT the Real Property description or iIT any title' insurance' policy, titl& report, or final title opiniolT
issued in favor of, and accepted by, Lender iIT cannectiolT witlT this Mortgage, and (bl Grantor has the full right, power, and authority to
execute and deliver this Mortgage' to lender.
Defens& of Title. Subject to the' exceptiolT iIT th& paragraph abovE!', Grantor warrants and will forever defend th& titl& to the' Property against:
the lawful claims of all persons. lIT the' event any actiolT or proceeding is commenced that questiom; Grantor's title or the' interest of Lender
under .this Mortgage, Grantor shall defend the' actiolT at Grantor's expense'. Grantor may b& the' nominal party iIT such proceeding, but
lender shall bE!' entitled to participate' in th& proceeding and to be represented in the' proceeding by counsel of lender's OWIT choicE!', and
Grantor will deliver, or causE!' to be' delivered, tcr lender such instruments as leITder may request from time to time' to permit: suclT
participatiolT.
Compliance With laws. Grantor warrants that thE!' Property and Grantor's use' of thE!' Property complies with all existing applicable laws,
ordilTances, and regulations of governmental authorities.
Survival of Promises. All promises, agreements, and statements Grantor has made iIT this Mortgaga shall survive' the' execution and delivery
of this MortgagE!', shall be' continuing in nature and shall remaiIT in full forCEf aITd effect until such time' as Grantor's Indebtedness is paid iIT
full.
CONDEMNA TION. The following provisions relating to condemnation proceedings are a part of this Mortgage':
Proceedings. If any proceeding iIT condemnatiolT is filed, Grantor shall promptly notify lender in writing, and Grantor shall promptly tak&
such step!i as may bE!' necessary to defend thE!' actiolT and obtailT the' award. Grantor may be' the' nominal party iIT such proceeding, but
Lender shall bE!' entitled tcr participate' in the proceeding and to be represented in the proceeding by counsel of its OWIT choice', and Grantor
will deliver or causE!' to bE!' delivered to Lender such instruments and documentatiolT as may b& requested by Lender from time' to timE!" ta
permit such participatiolT.
Application of Net Proceeds. If all or any part: of the' Property is condemned by eminent domain proceedings or by any proceeding or
purchase' iIT lieu of condemnation, Lender may at its election require' that all or any portion of the net: proceeds of the- award be applied tcr
the' Indebtedness or thE!' repair or restoratiolT of the Property. ThE!' net proceeds of the' award slTall mean the award after payment of all
reasonablE!" costs, expenses, and attorneys' fee.s incurred by lender in cannectiolT witlT th& condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The' following provisions relating tcr governmental taxes,
fees and charges are a part of this Mortgage:
Current Taxes, Fees and Charges. Upon request: by Lender, Grantor shall execute suclT documents in addition to this Mortgage' and takE!'
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Loarr No: 88S28000
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(Continued)
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Page 3:
whatever other actiorr is requested by Lerrder to perfect arrd corrtirru~ Lerrder's lierr OIT th~ Real Froperty. Grarrtur shall reimburse Lerrder for
all taxes, as described below, together with all experrses irrcurred irr recordirrg, perfectirrg or corrtirruirrg: this Mortgage, irrcludirrg without:
limitatiorr all taxes, fees, documerrtary stamps, arrd other charges for recording or registering this Mortgage'.
Taxes. The following shall con5tÏttJte' taxes to which this sectiolT applies: (1) a specific tax UpOIT this typ~ of Mortgage' or UpOIT all or any
part of the Indebtedness secured by this Mortgage; (Z) a specific tax OIT Grarrtur which Grarrtur is authorized or required to deduct from
paymentt orr the Indebtedness secured by this type of Mortgage; (3) a tax on this typE! of Mortgage' chargeablE! against thE! Lender or the
holder of the Note'; and (4) a specific taxon all or any portiorr of the' Indebtedness or OIT paymentt of principal arrd interest madE! by
Grarrtur.
SubsequeΠTaxes. If any tax to which this sectiolT applies is enacted subsequent to th~ date' of this Mortgage, this eveΠshall have thE!
same effect as an EveΠof Default:, and Lender may exercise' any or all of its available' remedies for alT EveΠof Default: as provided below
unless Grantor either (1) pays the tax before it: becomes delirrqueŒ, or (Z) contests thE! tax as provided above in the Taxes and Uens
section arrd deposits with Lender cash or a sufficient corpOratEf surety bond or other security satisfactory to Lerrder.
SECURITY AGREEMENT; RNANClNG STATEMENTS. The' followirrg: provisions relating to this Mortgage' as a security agre&lTleΠare a part of
this Mortgage':
Security AgreemeŒ. This instrumeŒ shall constitute' a Security Agreement: to the extent: any of the' Froperty corrstitute's fixtures, and
Lender shall have all of the rights of a secured party under the' Uniform Commercial Code' as amended from time' to time'.
Security Interest. UpOIT request by Lender, Gtarrtur shall take whatever actiorr is requested by Lender to perfect arrd corrtirrue Lerrder's
security interest ¡IT the' Fersonal Froperty. In additiolT to recording this Mortgage' ilT the' real property records, Lender may, at:" any time and
without: further authorization from Grarrtur, fil~ executed counterparts, copies or reproductions of this Mortgage' as a finarrcing statemeŒ.
Grarrtur shall reimburse Lender for all expenses incurred in perfecting or corrtinuing this security interest. UpOIT default; Grarrtur shall rrot:
remove', sever or detach the' Fersonal Froperty from the Froperty. Upon default:, Grarrtur shall ass&lTlbl~ any Fersorral Frop&rty not: affixoo
to the' Froperty in a manner and at: a place' reasonably convenient to Grarrtur and Lender and makE! it: available to Lender withilT three' (3J
days after receipt: of writtelT demand from Lender to the' extent permitted by applicable law.
Addresses. Th~ mailing addresses of Grarrtur (debtor) arrd Lender (secured party) from which information com;erning the' security interest
granted by this Mortgage' may be obtained (each as required by the' Uniform Commercial Code) are as stated OIT the' first page of this
Mortgage.
FURTHER ASSURANCES; ATTORNEY-IN-FACT. Th~ following provisions relating to further assurances and attorney-in-fact are a part of this
Mortgage:
FUrther Assurances. At: any time, and from time' to time, UpOIT request of Lender, Grantor will make', execute' and deliver, or will cause' to
be made', executed or delivered, to Lerrder 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 arrd ilT such offices and places as Lerrder may deem appropriate, any and all such mortgages,
deeds of trust, security deeds, security agreements, financing statements, corrtirruation statements, instruments of further assurance',
certificates, arrd other documents as may, in the' sole' opiniorr of Lender, be necessary or desirable in order to effectuate, complete', perfect,
corrtirrue', or preserve' (1) Grarrtur's obligations under the' Note', this Mortgage, and the Related Documents, and (Z) the lierrs arrd
security interests created by this Mortgage' as first and prior liens on the Property, whether now owned or hereafter acquired by Grarrtur.
Unless prohibited by law or Lender agrees to the contrary ilT writirrg, Grarrtur shall reimburse' Lender for all costs and expenses incurred in
corrrrectiolT with the matters referred to irr this paragraph. :
Attomey-iIT-Fact. If Grarrtur fails to do any of the' things referred to in the' preceding paragraph,· Lerrder may do so for and in the' name' of
Grarrtur arrdat: Grarrtur's expense, For such purposes, Grarrtur hereby irrevocably appointt Lerrder as Grarrtur's attorney-in-fact for th~
purpos~ of making, executing, delivering, filing, recording, arrd doing all other things as may be necessary or desirable, ilT Lender's sol~
opinion, to accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. If Grarrtur pays all the' Indebtedness when due, and otherwise performs all th~ obligations imposed upon Grantor under
this Mortgage', Lerrder shall execute and deliver to Grarrtur a suitable satisfaction of this Mortgage and suitable statementt of termination of any
financing statement on fil~ evidencing Lender's security interest in the' Rents and the Personal Froperty. Grarrtur will pay, if permitted by
applicable' law, any reasonabl~ termination fee as determined by Lender from tim~ to time.
EVENTS OF DEFAULT. At lender's optiOlT, Grarrtur will be' in default: urrderthis Mortgage' if any of th!! following happerr:
Fayment Default. Grantor fails to make' any payment: whelT due' under the Indebtedness.
Default OIT Other Fayments. Failure of Grarrtur withirr the' tim~ required by this Mortgage to make any payme/Tt for taxes or insuranc!!, or
any other payment necessary to prevent: filing of or to effect: discharge' of any lierr.
greak Other Promises. Grantor breaks any promise made to Lender or fails to perform promptly at: th~ tim!! and strictly ilT th!! marrner
provided ilT this Mortgage or in any agreement related to this Mortgag!!.
FalsI! Statements. ArT'( representation or statement mad& or furnished to Lender by Grarrtur or on Grantor's behalf urrder this Mortgage or
the' Related Documenœ is fals~ or misleading irr any material respect, either now or at:" tha time made or furnished.
Defectivl! Collateralization. This Mortgag~ or any of the' Related Documentt ceases to b~ in full Jorc!! arrd effect: (including failure of any
collateral document to create' a valid arrd perfected security interest or lien) at: any time' and for any reasorr.
Death or Insolvency. Th& death of Grarrtur, thE! insolvency of Grarrtur, the appointment of a receiver for any part of Grantor's property, any
assignment for the' benefit of creditors, any type of creditor workout, or th~ commencement: of any proceedirrg: under any bankruptcy or
insolverrcy laws by or against Grantor.
Taking of the Property. Any creditor or governmental agency tries to take' any of thE!' Property or any other of Grarrtur's property in which
Lender has a lierr. This includes taking of, garnishirrg of or levying on Grarrtur's accounts with Lender. However, if Grarrtur disputes in
good faith whether th~ claim on which the' taking of th!! Froperty is based is valid or reasonable', and if Grantor gives Lender writterr notic~
of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this default: provisiolT will
not: apply.
greach of Other Agre&ITI~. Any breach by Grantor under the terms of any other agre&lTlent betweelT Grarrtur and Lender that: is rrot:
remedied within any grace' period provided therein, irrcluding without: limitation any agreement concerning any irrdebtedness or other
obligatiolT of Grantor to Lender, whether existing now or later.
Events Affecting Guarantor. Any of the preceding events occurs with respect: to any guararrtur, endorser, surety, or accommodation party
of any of the' Indebtedness: or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or
disputes the validity of, or liability under, any Guaranty of the' Indebtedness. In the event: of a death, Lender, at:" its optiOlT, may, but: shall
not: b!! required to, permit: th~ guararrtur's estata to assum!! unconditionally the obligations arisirrg: under the guaranty in a marrner
satisfactory to Lender, and, in doing so, cure any Event of Default.
IlTSecurity, Lender in good faith believes itself insecur!!.
RIGHTS AND REMEDIES ON DEFAULT. Upon the' occurrenc& of alT Event: of Default and at: any time thereafter, Lerrder, at Lender's option, may
exercise' any one or more' of the' following rights arrd remedies, in addition to any other rights or remedies provided by law:
Accelerate Indebtedness. Lender shall have the right: at: its option without: notice to Grarrtur to declare the errtire Indebtedness immediately
due' and payable, including any prepayment: penalty which Grarrtur would 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 hav!! the' right:, without: notic~ to Grarrtur, to take possession of the Property, including durirrg th~ penderrcy of
foreclosure, whether judicial or non-judicial, and collect the Rents, including amounts past dUE! and unpaid, and apply thE!' net: proceeds, over
and abov~ Lender's costs, against the Indebtedness:. In furtherance of this: right:, Lender may require any terrant: or other user of th~
Property to make payments of rent: or USE! fees directly to Lender. If the Rents: are collected by Lender, thelT Grarrtur irrevocably designates:
Lender as Grarrtur's: attorney-in-fact to endorse' instruments received in payment thereof in the namE! of Grarrtur and to negotiate the samE!'
and collect thE!' proceeds. Payments by terrants or other users to Lender in respons!! to Lender'fi demand shall satisfy the' obligations for
which the' payments are' made, whether or not: any proper grounds for the' demand existed. Lender may exercise its rights under this
subparagraph either in person, by agent:, or through a receiver.
O~1.6479
Loan No: 88528000
MORTGAGE
{Continued}
:)0809
Pag& 4-
Appoint Receiver; LelTder shall have the right tcr hav~ a receiver appointed to take possessiorr of all or' arTy part of the fYroperty, with the
power to protect alTd preserve the fYroperty, to operare the fYroperty precedilTg foreclosure or sale, alTd tcr collect the Rerrts from the
fYroperty alTd apply the proceeds, over alTd above the cast of the receivership, agailTst the IlTdebtedlTess. The receiver may serve without
bOlTd if permitted by law. LelTder's right to the appoir1t1TTent of a receiver shall exist whether or lTot: the apparent value of the fYroperty
exceeds the IlTdebtedlTess by a substamial amount. EmploymelTt by LerTder shalllTot disqualify a persolT from servilTg as a receiver.
Judicial Foreclosure. LelTder may obtairr a judicial decree foreclosilTg Grarrtor's ilTterest ilT all or arTy part of the fYroperty.
Nonjudicial SalEI'. LelTder may foreclose Grarrtor's interest ilT all or ilT arTy part of the Property by 1T0rr-judicial sale, ami specifically by "power
of sale" or "advertisement alTd sale" foreclosure as provided by statute.
Deficiency Judgment. If permitted by applicable law, LelTder may obtailT a judgment for arTy deficielTCY remailTilTg irr thE!' IlTdebtedness due
tcr LelTder after applicatiolT of all amoums received from the exercisE!' of thE!' rights provided ilT this sectiolT,
Tenancy at Sufferarrce. If Grarrtor remailTs ilT possessiorr of the fYroperty after the Property is sold as provided abovEI' or LelTder otherwisE!'
becomes errtitled to possessiorr of thE!' fYroperty uporr default of Grarrtor, Grarrtor shall become a telTant at sufferalTca of Lender or tha
purchaser of tha Property alTd shall, at LelTder's optiorr, either (1) pay a reasolTabla rerrtal for the usa of tha Property, or (2) vacatE!' tha
fYroperty immediately uporr the demalTd of LelTder.
Other Remedies. LelTder shall hava all other rights alTd remedies provided ilT this Mortgage or the Nate or availabla at law or ilT equity.
Sale of tha Property. To the extelTt permitted by applicablE!' law, Gramor hereby waives arTy alTd all right tcr havE!' tha fYroperty marshalled.
lIT exercisilTg its rights alTd remedies, LelTder shall ba frea tcr sell all or arTy part of tha Property together or separately, ¡rr orre sale or by
separare sales. LelTder shall ba emitled to bid at arTy public sala OIT all or arTy portiOIT of tha Property.
Notice of Sale. LelTder will giVEf Grarrtor reasolTablEf 1T0tiCEf of thEf time alTd placEf of arTy public salEf of thEf fYersolTal Property or of tha tim!!'
after which arTy privare sala or ather intelTded dispositiolT of the PersolTal fYroperty is to ba madE!'. ReasolTabla lTotiCEf shall mealT 1T0tiCl!'
giverr at least telT (10) days before the tima of the sale or dispositiorr. ArTy sale of the PersolTal Property may be made irr colTjulTctiorr with
arTy sale of the Real fYroperty.
aectiolT of Remedies. All of LelTder's rights alTd remedies will be cumulative alTd may be exercised alolTe or together. AIT electiorr by
LelTder ta choose arTy olTe remedy willlTot: bar LelTder from usilTg arTy other remedy. If LelTder decides tcr spelTd mOlTey or tcr perform arTy of
Grarrtor's obligatiolTs ulTder this Mortgage, after Grarrtor's failure to do sa, that decisiorr by LelTder willlTot: affect LelTder's right tcr declare
Gramor irr default alTd to exercise LelTder's remedies.
Attorneys' Fees; Expenses. If LelTder ilTstitutes arTy suit or actiorr to erTforce arTy of thEf terms of this MortgagEf, LelTder shall be errtitled to
recover such sum as tha court may adjudgEf reasolTable as attorneys' fees at trial alTd UPOIT arTy appeal. Whether or lTot: arTy court actiorr is
il1Volved, alTd to the extent 1T0t prohibited by law, all reasolTablEf expelTses LelTder ilTcurs that ilT LelTder's opilTiolT arEf ITEfcessary at arTy timEf
for thEf protectiorr of its interest or thEf elTforcement of its rights shall becomEf a part of thEf IlTdebtednEfu payablEf orr dEfmalTd alTd shall bEfar
interest at thEf NotE!' rare from th!!' datE!' of thEfexpelTditure umil repaid. ExpelTses covered by this paragraph ilTcludEf, without limitatiorr,
howevEfr subject to arTy limits ulTder applicablEf law, LelTder's reasolTable attorneys' fees alTd LelTder's legal expEflTses whethEfr or lTot: there is
a lawsuit, ilTcludilTg reasolTablEf attorneys' fees alTd . expelTses: far balTkruptcy proceedilTgs: (ilTcludir¡g effurts tcr modify or vacare arTy
automatic stay or ilTjulTctiolT), appeals, alTd arTy amicipated post-judgment collectiolT services, th!!' cast of searchilTg records, obtailTing titI!!'
reports (includilTg foreclosure reports), surveyors' reports, alTd appraisal fees alTd title ilTsurarrca, ta the extelTt permitted by applicablE!' law.
Grarrtor also will pay arTy court costs, ilT additiolT to all other sums provided by law,
NOTICES. ArTy 1T0tiCE!' required to bE!' given ulTder this Mortgage~ ilTcludilTg without limitatiorr arTy lTotica of default alTd arTy noticE!' of salE!' shall b!!'
givelT in writilTg, alTd shall bE!' effectivE!' wherr actually delivered, whelT actually received by telefacsimilE!' (ulTless otherwisE!' required by law), wherr
deposited with a lTatiolTally recogmzed overnight courier, or, if mailed, wherr deposited irr thE!' UlTited States mail, as first class, certified or
registered mail postagE!' prepaid, directed ta thE!' addresses showrr near the beginning of this Mortgage. All copies of notices of foreclosure from
the holder of any lierr which has priority over this MortgagE!' shall bE!' selTt to Lender's address, as showlT near thE!' begilTnilTg of this Mortgagl!'.
Any persorr may changE!' his or her address for notices under this Mortgage by giving formal writterr noticE!' ta the other persorr or persons,
specifying that thE!' purposE!' of thE!' noticE!' is ta changE!' thE!' person's address. For notice purposes, Grarrtor agrees tcr keep Lender informed at all
times of Grarrtor's current address. Unless otherwisE!' provided or required by law, if there is mare tharr one Grarrtor, arTy notice giverr by LelTder
to arTy Grantor is deemed tcr bE!' notiCl!' given to all Grarrtors. It will be Grantor's responsibility tcr tell the others of the noticE!' from LelTder.
MISCELlANEOUS PROVISIONS. ThE!' fallowing miscellalTeous provisions arE!' a part of this Mortgage:
Amendmerrts. What is writterr irr this MortgagE!' and in the Related Documems is Grarrtor's emire agreement with LelTder cOlTcernilTg thE!'
matters covered by this MortgagE!'. To bE!' effective, arTy change or amendmerrr ta this Mortgage must bE!' ilT writilTg alTd must bE!' siglTed by
whoever will be bound or obligated by the changE!' or amelTdment.
CaptiolT HeadilTgs. Caption headilTgs irr this MortgagE!' are for convenience purposes only and are lTot: to bE!' used tcr interpret or definEf thE!'
provisions of this Mortgage.
Governing Law. This Mortgage will bE!' governed by federal law applicablE!' to LelTder and. ta the extent: lTot: preempted by federal law, th!!'
laws of the' Stat!!' of Wyoming without: regard tcr its conflicts of law provisions. This Mortgage has beerr accepted by Lender irr th8' Stat!!' of
WyomilT!f.
Choice of Venue. If there is a lawsuit, Grarrtor agrees upon Lender's request to submit to the jurisdictiorr of th!!' courts of Uncolrr County,
Stare of Wyoming.
JoilTt arrd Several Uability. All obligations of Grarrtor under this Mortgagl!' shall be joint and several, alTd all references ta Grantor shall mearr
each and every Grarrtor. This means that each Grarrtor signing below is responsible for all obligations in this Mortgage.
No Waiver by Lender. Grarrtor urTderstands Lender will not: givE!' up arTy of Lender's rights under this MortgagE!' unless LelTder does sa irr
writing. Th!!' fact that Lender delays or omits to exercisE!' any right will not mealT that Lender has given up that right. If Lender does agre!!'
ilT writing to giVE!' up an!!' of Lender's rights, that does not mearr Grarrtor will not havE!' to comply with thE!' other prOvisions of this Mortgag!!'.
Grarrtor also understands that if Lender does conselTt to a request, that does not mearr that Grarrtor willlTot hav!!' ta get LerTder's cOlTsent
agailT if thE!' situatiorr happelTs agailT. Grarrtor further understands that just because Lender consents to one or more of Grarrtor's requests,
that does not mean Lender will bE!' required to con:;elTt to arTy of Gramor's future requests, Grarrtor waives preser1t1TTent, demand far
payment, protest, alTd noticE!' of dishonor. Grarrtor waives all rights of exemption from execution or similar law in thE!' fYroperty, and Grarrtor
agrees that thE!' rights of Lender in the Property under this Mortgage are prior to Grarrtor's rights while this Mortgage remains ilT effect.
Severability. If a court filTds that arTy provisiorr of this MortgagE!' is not valid or should not be erTforcect, that fact by itself will not mearr that
tha rest of this MortgagE!' will 1T0t bE!' valid or erTforced. Therefore, a court will enforce thE!' rest of thE!' provisions of this MortgagE!' everr if a
provisiorr of this MortgagE!' may be found to bE!' il1Valid or unenforceable.
Merger. TherE!' shall bE!' no merger of thE!' interest or estate created by this Mortgage with arTy other interest or estate irr thE!' fYroperty at arTy
timE!' held by or for thE!' benefit of LelTder in any capacity, without the writtelT consent of Lender.
Successors and Assigrrs. Subject to any limitations stated in this MortgagE!' on transfer of Grarrtor's imerest, this Mortgage shall be binding
UPOIT and inure to thE!' benefit of thE!' parties, their successors alTd assigns. If ownership of the Property becomes vested irr a persOIT other
tharr Grarrtor, Lender, without notice to Grantor, may deal with Grarrtor's successors with referencE!' to this MortgagE!' and the' Indebtedness
by way of forbearance or extelTsion without releasing Grarrtor from thE!' obligatiolTs of this Mortgage or liability ulTder thE!' IndebtedlTess.
Time is of the EssenclJ. TImE!' is of thE!' esselTCE!' ilT the performance of this MortgagE!'.
Waiver of Homestead Exernptjorr. Grarrtor hereby releases and waives all rights and benefits of the homestead exemptiolT laws of the Stare
of WyomilTg as to all Indebtedness secured by this Mortgage.
DEFINITIONS. The following words shall havE!' the following meanings when used in this Mortgage:
Borrower. Tha word "Borrower" mealTs DAVID B. LUNDGREN and KIMBERLEY C. LUNDGREN and includes all co-signers and co-makers
signing the Note and all their successors and assiglTs.
Environmental Laws. The words "Environmental Laws" mearr arTy and all state, federal and local statutes, regulations and ordinances
relating to thE!' protectiorr of humarr health or thE!' environment, including without limitatiolT thE!' ComprehelTsivE!' Environmerrtal ResponsE!',
CompelTsatiolT, alTd Uability Act of 1980. as amended, 4Z U.S.C. Section 9601, et seq. ("CERCLA "J, the SuperfulTd Amendmerrts and
ReauthorizatiolT Act of 1986, Pub. L No. 99-499 ("SARA "), the Hazardous Materials TralTsportatiolT Act, 49 U.S.C. Sectiorr 1801, et seq.,
the Resource Conservation and Recovery Act, 4Z U.S.C. SectiolT 6901, et seq., or other applicablE!' state or federal laws, rules, or
t:~ili~~~;~¡;f
O~1..64~7~
;i:::Þ:m::::¡~
MaW~WAGE
(Continued)
( nr810
-..' .
loan No: 88528000
Page 5
regulatians adapted pursuantthereta.
Event .of Defaul~. Tha wards "Event .of Default" mean any of tha eventt .of default set forth in this Martgclga in tha eventt .of default
sectian .of this Martgclga.
Grantor. Tha ward "Grantor" means DAVID a. LUNDGREN and KIMBERLEY C. LUNDGREN.
Guanmty. Tha ward "Guaranty" means the guaranty from guarantar, endarser, surety, .or accammadatian party ta Lender, including
withaut limitation a guaranty .of all .or part .of tha Nate.
Hazardaus Substances. Tha wards "Hazardaus Substances" mean materials that, because .of their quantity, cancentratian .or physical,
chemical .or infectiaus characteristics, may causa .or pasa a present .or potential hazard to human health .or tha environment when
improperly used, treated, stored, dispased .of, generated, manufactured, transpartad .or otherwisa handled. Tha words "Hazardous
Substances" are used in their very broadest sensa and includa withaut limitatian any and all hazardous .or toxic substances, materials .or
wasta as defined by .or listed under the Eiwironmental Laws. Tha term "Hazardaus Substances" also includes, without limitatian, petroleum
and petroleum by-products .or any tractian thereaf and asbestos.
Improvements. Tha ward "Improvements" means all existing and future improvements; buildin¡r.;, structures, mabila hames affixed an ttm
Real Property, facilities, additians, replacements and other constructian an the Real Property.
Indebtedness. The ward "Indebtedness" means all principal, interest, and ather amounts, costs and expenses payabla under tha Nota .or
Related Dacuments, tagether with all renewals .of, extensions .of, madificatians .of, cansolidations of and substitutians for the Nota .or
Related Dacuments and any amounts expended .or advanced by Lender to discharga Grantor's abligatians .or expenses incurred by Lender to
enforce Grantor's obligatians under this Martgclga, together with interest an such amaunts as provided in this Mortgage.
Lender. The ward "Lender" means RRSr NA TTONAL BANK - WEST; its: successars and: assigns. Tha wards" successars .or assigns" mean
any person .or campany that acquires any interest in tha Nata,
Mortgage. The ward "Martgage" means this Martgage between Grantor and Lender.
Note. The word "Note" means tha promissory nata dated March T, Z006, in the original principal amount of $28,280,00 from
Grantor to Lender, together with all renewals .of, extensians .of, madificatians .of, refinancin¡r.; .of, consalidations .of, and substitutians for
tha promissory note .or agreement. The maturity date .of this Martgclge is March 7, ZOZ1. NOTICE TU GRANTUR: THE NOTE CONTAINS A
VARIABLE INTERESr RATE.
Fe~onat Froperty. Tha wards "Fersanal Praperty" mean all equipment, fixtures, and other articles .of personal property now .or hereafter
awned by Grantor, and now .or hereafter attached .or affixed to: tha Real Praperty; together with all accessions, parts, and additions to, all
replacements .of, and all substitutians far, any of such property; and together with all proceeds (including withaut limitatian all insuranca
proceeds and refunds .of premiums) from any sale .or ather dispasitian .of tha Praperty.
Froperty. Tha ward "Praperty" means callectively the Real Praperty and thaPersanal Fraperty.
Real Froperty. Tha wards "Real Praperty" mean tha real property, interests and rights, as further described in this Martgaga.
Related Dacuments:. Tha wards "Related Dacuments" mean all promissary notes, credit agreements, 1.0 an agreements, environmental
agreements, guaranties, security agreements, martgages, deeds .of trust, security deeds, callateral martgages, and all other instruments,
agreementt and dacuments, whether naw .or hereafter existing, executed in connection with tha Indebtedness.
,
Rents:. Tha word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits: derived from
tha Property.
EACH GRANTUR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE AND EACH GRANTUR AGREES' TU ITS
TERMS. .
GRANTUR:
xoÕ~ ß ~~
DAVID II. LUNDGREN
~;¿
:)/ , ¡/
X ,f> -::ø.¡ , , ~øC
.)(1 BERLEY C. NDGREN ~
kimber Iy C. L\Är1d~reo ::tIéL
INDlVrDUAL ACKNOWLEDGMENT
STATE OF Wvoming
COUNTY OF Lincoln.
I
ISS
)
Kimberly C.
an this day befora ma, the undersigned Natary Public, persanally appeared DAVID II. LUNDGREN and ~ LUNDGREN, to ma knawn
ta ba the individuals described in and wha executed tha Martgage, and acknowledged that they signed thll Mortgclge as their frell and voluntary
act and deed, far tha uses and purpases therein mentianed.
day of March.
,2006
Residing at
Lincoln. Countv
My commission expires 10-2-07
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COONlY!1 STATE If
LINCO..N WiOMNG
My Comm'ssÍ!Jn Er.nires
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