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Home My WebLink About916632 60110 (04) RECORDATION REQUESTED BY: FIRST NATIONAL BANK· WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine, WY 83128 C00248 B WHEN RECORDED MAIL TO: FIRST NATIONAL BANK - WEST Alpine 100 Greys River Rd. P.O. Box 3110 Alpine, WY B312B RECEIVED 3/13/2006 at 2:32 PM RECEIVING # 916632 BOOK: 614 PAGE: 248 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY SEND TAX NOTICES TO: FIRST NATIONAL BANK - WEST Alpine 100 Greys River Rd, P.O. Box 3110 Alolne, WY 8312B SPACE ABOVE THIS liNE IS FOR RECORDER'S USE ONLY MORTGAGE 'J THIS MORTGAGE dated February 28, 2006, is made and executed between K S Land M INC., A Wyoming Corporation (referred to below as "Grantor'" and FIRST NATIONAL BANK - WEST, whose address is 100 Greys River Rd., P.O. Box 3110, Alpine, WY 83128 (referred to below as "Lender"). GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to lender all 01 Grantor's right, title, and interest in and to the following described real prOperty, together with all existing or subsequently erected or affixed buildings, Improvements and fixtures; all easements. rights 01 way, and appurtenances; all water, weter rights, watercourses and ditch rights (Including stock in utilities with. ditch or irrigation rights); and all other rights, royalties, and profits ,alatin9 to tha real property, including without limitation all minerals, oil, gas, geothermal and similar matters. (the "Real Property'" located In LINCOLN County, State of Wyoming: PARCEL 1 LOT 18, RIVER VIEW MEADOWS ADDITION TO THE TOWN OF ALPINE, LINCOLN COUNTY, WYOMING WITHIN THE SE1/4 OF SECTION 30, T37N, RII8W, ACCORDING TO THAT PLAT FILED JULY 2, 1993 AS INSTRUMENT NO. 767416. PARCEL 2 LOT 34 OF. GREYS RIVER VILLAGE SECOND ADDITION TO THE TOWN OF ALPINE, LINCOLN COUNTY, WYOMING, ACCORDING TO THAT PLAT FILED JULY 22, 1994 IN THE OFFICE OF THE COUNTY C,LERK AS INSTRUMENT NO. 787017. The Real Property or Its address is commonly known as LOT 18, RIVER VIEW MEADOWS, ALPINE, WY. 83128 348 RIVERVIEW DRIVE, ALPINE. WY 83128. Grantor presently assigns to lender all 01 Grantor's right, title, and interest in and to all present and luture leases 01 the Property and all Rents from the Proparty. In addition, Grantor grants to lender a Unilorm Commercial Code security Interest in the Personal Property and Rents. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND IB) PERFORMANCE OF ANY AND All OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS. AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS: PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to lender all amounts secured by this Mortgage as they become due and shall strictly perform all of Grantor's obligations under this Mortgage. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use 01 the Property shall be governed by the following provisions: Posse..lon and Us.. Until the occurrence of an Event 01 Default, Grantor may (1) remain In possession and control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents Irom the Property. Duty to MaintaIn. Grantor sholl maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Comp"ance With Environmental law.. Grantor represents and warranls to lender that: (1) During the period of Grantor's ownership of the Property, there has been no use. generat1on, manufacture, storage, treðtment. disposal, release or threatened release of any Hazardous Substance by any person on, under, about or from the Property; f2) Grantor has no knowledge of, or reason to believe that there has been, except 8spraviously disclosed to and acknowledged by lender in writing, fa) soy breach or violation of any Environmental LBW5. (b) any use, generation, manufacture, stor!lge. treotment, disposal, release or threatened release of any Hazardous Substance on, under, about or :from the Property by any prior owners or occupants of the Property~ or fe) any actual or threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and acknowledged by lender in writing, la) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use. genorate, manulacture, store, treat, dispose 0' or release anv Hazardous Substance on, under, about or from the Property; and (bJ any such activity shan be conducted In compliance with all applicable lederal, state. and local laws, regulations and ordinances. including without limitation all Environmental laws. Grantor authorizes lender and its agents to enter upon the Property to meke such inspections and tests, at Grantor's expense, as lender may deem appropriate to determine compliance of the Property with this section of the Mortgage. Any inspections or tests made by Lender shalf be for lender's purposes only and shall not be construed to create any responsibility or liability on tha part 01 lender to Grantor or to any other person. The representations and warranties conteined herein are based on Grantor's due diligence in investigating the Property lor Hazardous Substances. Grantor hereby (1) releases and waives any future claims agaInst lender lor indemnity or contribution in the event Grantor becomes liable for cleanup Or other costs under any such laws; and (2) agrees to indemnily and hold harmless lender against any and all claims, losses, liabilities, damages, penalties, and expenses which lender may directly or Indirectly sustain or surrer resulting from a breach of this section of the Mortgage or as a consequence of any use, generation, manufacture, storage, disposal~ release or threatened relea.e 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 01 this section of the Mortgage. including the obligation to indemnify, shall survive the payment 01 the Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and shall not be affected by Lender's acquisition of any interest in the Property, whether by foreclo.sure or otherwise. Nuisance, Wast.. Grantor shall not cause. conduct or permit any nuisance nor commit, pern,it, or sufler any stripping 01 or waste on or to the Property or any portIon 01 the Property. Wnhout limiting the generality of the loregoing, Grantor will not remove, or grant to any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, grovel or rock products without Lender's prior written consent. Removal 01 Improvements, Grantor shall not demolish or remOVe any Improvements from the Rea' Property without lender's prior written consent. As fI c.onditian to the removal .of any Improvements, lender may· require Grantor to make arrangements satisfactory to .Lender to replace such Improvements with Improvements of at feast equal value. . lender's Right to Enter. lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions or this Mortgage. Compliance with Governmente' Requirements. Grantor shan promptly comply with all laws, ordinances, and regula lions, now or he'eafter In effect, of all governmental authorities applicable to the us. or occupancy of the Property. Including without I1mitation, the Americans With DisabilltiéS Act. Grantor may contest in good laith any such law, ordinance, or regulation and withhold compliance during any /l, ]/ ';;:f~~?å:':':~:f:i;, ~m~i~:~¡:m:t 091...6632l0an No: 761001123 MORTGAGE (Continued) Page 2 rn('t.'49 \./ \... \.... , . proceedi~g, inclUdin? appropria~e appeals, so long as ?rantor. has notified lender In writing prior to doing so end so long es, in lender's sole OpiniOn, Lender s interests In the Property are nor 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 leeve unattended the Property. Grantor shall do all other acts, In addition to those acts set forth above In this section, which 'rom the character and use of the Property are reasonably necessary to protect and preserve the Property. TAXES AND lIENS. The following provisions relating to the taxes and liens on the Property are part 0' this Mortgage: Payment. Grantor shell 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 ser~ices 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 Lende", and except for the lien of taxes and assessments not due as further specified in the Right to Contest paragraph. Right to Contest. Grantor may withhold payment of any tax. assessment, or claim In éonnec·tlon with a good faith dispute over the obligation to pay, so long as lender's interest in the Property Is not jeopardized. If a lien arises or is tiled as a result of nonpayment, Grantor shall within fifteen (15) days alter the lien arises or, if a lien is filed, within lifteen (15) days after Grentor has notice of the filing, secure the discharge of the lien, or it requested by Lender, deposit with lender cash or a sufficient corporate surety bond or ather security satisfactory to Lender in 8n amount suUicient to di$charge the lien plus any costs and reasonable attorneys' fees, or other charges that could accrue as a resul.t of e foreclosure or sale under the lien. In eny contest, Grantor shall defend Itself and lender and shall .atisfy any adverse Judgment before en'orcement against the Property. Grantor shall name lender as an edditlonel obligee under any surety bond furnished in the contest proceedings. Evidanca of Payment, Grantor shall upon demand furnish to lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to lender at any time a written statement 01 the ta)(es and assessments against the Property. Notice of Construction. Grantor shall notily lender at least fifteen (15) days before eny work Is commenced. any services are furnished, or eny 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 edvance assurances satisfactory to lender that Grantor can and will pey the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Mortgege: Maintenance of Insurance. Grentor shall procure and maintain policies 01 fire Insurence with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sutricient to avoid application of any coinsurance clause, end with a standard mortgagee clause in favor of lender. (3rantor shaJJ also procure and maintain comprehensive general liability Insurance In such coverage amounts as lender may request with Lender being named as additional Insureds in such liability Insurance policies. Additionally. Grantor shall maintain such other insurance. Including but not limited to hazard, business hiterruptJon and boiler insurance as lender may require. 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 coverege will not be cancelled or diminished without a minimum of thirty (30) days' prior written notice to lender and not containing eny disclaimer of the insurer's liability 'or failure to give such notice. Each Insurance policy also shall Include an endorsement providing that coverage in favor of lender will not be Impaired In eny way by any ect, omission or default 01 Grantor or any other person. Should the Real Property be located in an erea designated by the Director of the Federal Emergency Menagement Agency IS a special flood hazard area, Grantor agrees to .obtain and maintain Federal Flood Insurence, it available, for the lull unpaid principal balance of the loan end any priol liens on the property securing the loan, up 10 the maximum policy limits set under the National Flood Insurance Program, Or as otherwise required by lender, and to maintain such insurance for the term of the loen. Application of Proceed., Grantor shell promptly notify lender of eny loss or damage to the Property If the estimated cost of repair or replacement exceeds $1,000.00. lender may make proof of loss If Grantor fails to do so within tifteen (15) days of the casualty. Whether or not lender's security is impeired, lender may, at lender's election. receive and retain the proceeds 01 any insurance and apply the proceeds to the reduction 01 the Indebtedness, payment of any lien affecting the Property, or the restorallon end repair 01 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 reasoneble cost of repair or restoration it Grantor is not In default under this Mortgage. Any proceeds which have not been disbursed within 180 days afte,-their receipt and which lender has not committed to the repair or restoration of the Property shall be used first to pay any amoùnt 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 or the Indebtedness. such proceeds shell be peid to Grantor as Grantor's interests may appear. Grantor'. Report on Insurance. Upon request 01 lender, however not more than once a year, Grantor shall furnish to lender a report on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks Insured; (3) the amount of th~ policy; (4) the property insured. the then current replacement value of such property, and the manner of determining that value; end (5) the expiration date 01 the policy. Grantor shall. upon request of Lender. have an Independant apprals.ar sBtislactory.to lender determine the cash value replacement cost of the Property. lENDER'S EXPENDITURES. If any ection or proceeding is commenced that would materially affect lender's interest in the Property or If Grantor fails to comply with any provision 01 this Mortgage or any Related Documents, Including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor Is required to discharge or pay under this Mortgage or any Related Documents, lender on Grantor's behalf may (but shall not be obligated to) take any action thet lender deems appropriate, including but not limited to discharging or peying all taxes, liens, security interests. encumbrances and other claims, at any time levied or placed on the Property and paying ell costs for insuring, maintaining and preserving the Property, All such e'penditures Incurred or paid by lender for such purposes will then bear interest at the rete charged under the Note from the date Incurred or paid lJy 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; (8) be added to the balance of the Note and be epportioned 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 cif the Note; or (C) be treated as a balloon payment which will be due end payable et the Note's maturity. The Mortgage elso will secure payment 01 these amounts. Such right shall be In addiiion to all other rights and remedies to which lender may be entitled upon Default. WARRANTY; DEFENSE OF TiTlE. The lollowing provisions relating to ownership of the Property ere a part of this Mortgage: TItle. Grantor warrants that: (el Grantor holds good and marketable title of record to the Property in fee simple, free end cleer of ellliens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report. or final title opinion issued in fevor of, end accepted by. lender In connection with this Mortgage, and (b) Grefltor has the full right, power. and authority to execute and deliver this Mortgag~ to lender. Defense of TItle. Subject to the exception in the paragraph ebove, Grantor warrents and will forever defend the title to the Property egalnst the lawful claims 01 all persons. In the event any action or proceeding Is commenced that questions Grantor's title or the interest 01 lender under this Mortgage, Grantor shall defend the ection at Grantor's expense. Gr.ntor may be the nominal party In such proceeding, but lender shell be entitled to participate in the proceeding and to be represented in the proceeding by counsel of lender's Own choice, and Grantor will deliver. or causa to be delivered, to lender such instruments as lender may request from time to time to permit such participation. Compliance With laws. Grantor warrants that the Property and Grantor's use of the Property complies· with all existing epplicable laws, ordinances, and regulations of governmental authorities. . Survival of Representations and Warrentles. All representetions, warranties, end agleements made by Grantor in this Mortgage shall survive the execution and delivery of this Mortgage, shall be continuing In nature, and shall remain in full force and effect until such time as Grantor's Indebtedness shall be paid In full. CONDEMNATION. The lollowlng provisions relating to condemnation proceedings are a part of this Mortgege: Proceeding., If any proceeding In condemnation is filed, Granlor shall promptly notify lender in writing, and Grantor shall promptly take such steps as may be necessary to defend the action end obtain the award. Grantor mav be the nominal party in such proceeding, but lender shall be entitled to perticlpate In the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor ~:::~:~St:::::~~i f6Ji;.,.,I"¡:tt:@ 091.663~;,<;,!.·.;i , ;Hii!r¡~:¡::\'r)) :till1lrm coo ~:; 5 0 Loan No: 761001123 MORTGAGE (Continued) Page 3 will deliver or causa to b. d.llvered to l.nder such instruments and docum.ntation as may be raqua.ted by lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of tha Property is condemned by eminent domain proceedings or by any proceeding or purchase in jeu of condemnation, Lender may at its election require that all or any patti,on of the net proceeds of the award be applied to th. Indebtedn.ss or the repair or restoration of the Property, The net proceeds of the award shall mean the award aftar paym.nt of all reasonable costs, expenses. and attorneys I fees incurred by lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions r.latlng to govarnm.ntal taxas, f.as and charges are a part of this Mortgag.: Current Tax.., F.es and Chargas. Upon request by lender, Grantor shall ex.cute such docum.nts In addition to this Mortgag. and take what.v.r oth.r action is r.quest.d by l.nd.r to perfect and continu. lend.r's li.n on the Real Property, Grantor shall r.lmburs. lender for all tax.s, as describ.d balow. together with all expenses incurred In recording. perf.cting or continuing this Mortgage, inciudlng without limitation all taxes, fe.s, docum.ntary stamps, and othar charges for recording or r.glstering this Mortgag.. Taxas. The following shall constitute taxes to which this section applies: 111 a specific tax upon this type of Mo~ag. or upon all or any part of the Indebtedness secured by this Mortgage; 121 a specific tax on Grantor which Grentor is authorized or required to deduct from payments on the Indebtedness secured by this type of Mortgaga; (3) a tax on this type of Mortgag. charg.able against the l.nd.r or the holder of the Note; and 14} a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor. Subsaquent Tax.., If any tax to which this section applies is enacted subsequent to the date 01 this Mortgag., this ev.nt shall have the same eff.ct as an Ev.nt of D.fault, and l.nder may exercise any or all of its availabl. remadi.s for an Event of D.fault as provided b.iow unless Grantor .Ither (1) pays the tax b.for. it becom.s delinquent, or (2) contests the tax as provided above in the Taxes and liens section and d.posits with l.nder cash or a sufficient corporat. suraty bond or oth.r s.curity satisfactory to lender. SECURITY AGREEMENT; FINANCING STATEMENTS. Th. foHowing provisions ralating to this Mortgag. as a security agre.mant are a part of this Mortgage: S.curlty Agreement, This Instrument shall constltut. a S.curlty Agre.m.nt to the extent any of the Prop.rty constitut.s fixtures, and l.nd.r shall have all of the rights of a s.cur.d party und.r the Uniform Commercial Code as am.nd.d from time to time, S.curity Intere.t. Upon requ.st by lender, Grantor shall take whatever action Is requ.sted by lander to p.rf.ct and contlnu. lendar's s.curity interest in the Rents and Personal Property. In addition to r.cordlng this Mortgage in the real property records, l.nd.r may, at any time and without further authorization from Grantor, file executed counterparts, copíes or reproductions of this Mortgage 85 B finanCing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security Interest. Upon default. Grantor shall not r.move, s.v.r or detach the Personal Prop.rty from the Property. Upon d.fault. Grantor shall assembl. any P.rsonal Prop.rty not affixed to the Property in a manner and at a place reasonably convenient to Grantor and l.nd.r and make it availabl. to lender within three (31 days aft.r r.ceipt of writt.n d.mand from L.nder to the .xt.nt p.rmltted by applicable I.w, Add,...... The mailing addresses of Grantor (debtor) and l.nder (s.cured partyl 'rom which Information concerning the security interest grant.d by this Mortgag. may b. obtaln.d (.ach as requir.d by the Uniform Commercial Cod.1 ar. as stat.d on the first page of this Mortgag.. FURTHER ASSURANCES; ATTORNEY-IN-FACT, Th. fallowing provisions r.latlng to furth.r assuranc.s and attorney-in· fact are a part of this Mortgag.: Further Assurances. At any time, and from time to time. upon request of lender, Grantor will make, execute and deliver, or win cause to be mad.. execut.d or d.llvered, to lender or to l.nd.r's deslgne., and wh.n requ.sted by l.nder. caus. to be filed. r.corded, r.filed, or rer.corded, as the cas. may b.. at such times and in such offic.s and places as Lender may d..m approprlat., any and .11 such mortgag.s, de.ds of trust, security d..ds, s.curity agreements, financing statements, continuation stateln.nts. instruments of further assurance. certificates, and other documents as may, in the sole opinion of lender, be necessary or desirable in order to effectuate, complete, perfect, continue. or preserve (11 Grantor's obligations und.r the Not., this Mortgag., and the R.lated Docum.nts. and (2) the liens and security interests created by this Mortgage as first and prior liens on the Property, whether now owned or hereafter acquired by Grantor. Unl.ss prohibited by law or L.nd.r agr.es to the con\rary in writing, Grantor shall r.imburse lend.r for all costs and expenses incurr.d in connection with the matt.rs r.f.rred to in this paragraph. Attorney-In-Fact. If Grantor fails to do any of the things r.ferred to in the preceding paragraph, lend.r 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.Jn-fact for the pur pas. of making, .x.cuting, deliv.ring, filing, r.cording. and doing all other things as may b. n.cessary or d.sirabl., in lend.r·s sole opinion, to accomplish the matt.rs r.f.rred to In the pr.c.dlng paragraph, FUll PERFORMANCE. If Grantor pays all the Ind.bt.dness when due, and oth.rwls. performs all the obligations impos.d UpOn Grantor under this Mortgage, lend.r shall .xecut. and d.liver to Grantor a suitable satisfaction of this Mortgag. and suitabl. stat.ments of t.rmination of any financing statement on fil. .vldencing lender's s.curity int.rest in the R.nts and the P.rsonal Property. Grantor will pay, If p.rmitt.d by .pplicabl. law, any r.asonabl. termination f.. as d.termined by lend.r from time to time. EVENTS OF DEFAULT. E.ch of the following, at l.nder's option. .hall constitut. an Event of D.fault under this Mortgage: Payment Default. Grantor fails to make any payment when due under the Indebtedn.ss, D.fault on Othar Paym.nts, Failure of Grantor within the time required by this Mortgag. to make any paym.nt for taxes or Insuranc., or any other payment necessary to prevent fìtlng of or to effect discharge of any lien. Othet Døfaultl. Grantor falls to comply with or to perform any other term. obligation, covenant or condition contained in this Mortgage or in any of the Related Documents or to comply with or to p.rform any tarm, obligation, covenant or condition contained In any oth.r agreement between Lender and Grantor. D.fault In Favor af Third Partl... Should Grantor default under any loan. extension of credit, security agr.ement, pUrchase or sales agreement, or any othar agr..m.nt, .in favor of any oth.r Creditor or person that m.y mat.rlally affect any of Grantor's property or Grantor's ability to repay the Ind.btedness or Grantor's ability to p.rform Grantor's obligations under this Mortgag. or any r.lat.d document. false Statements. Any warranty, representation or statement made or furnished to lender by Grantor or on Grantor's behalf under this Mortgage or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Collatorallzatlon. This Mortgag. or any of the Related Oocum.nts caases to b. in full forc. and .ff.ct (Including failure of eny collateral document to cr.ate a valid and perfacted security Inter.st or lienl at any time and for any r..son. In.olv.ncy. Th. dissolution or t.rmination of Grantor's .xlst.nc. as a going busin.ss, the insolv.ncy of Grantor, the appointment of a receiver for any part of Grantorl's property, any assignment fortha benefit of creditors, any type of creditor workout, or the commencement of any proce.dlng und.r any bankruptcy or insolvency laws by Or ag.inst Grantor. Cradltor or Forfeiture Proceedings. Comm.ncem.nt of foreclosur. or forfeiture proceedings. wheth.r by Judicial proceeding, s.lf-help, repossession or any other m.thod, by any creditor of Grantor or by any governmental ag.ncy against any prop.rty s.curlng tha Ind.bt.dness. This includ.s a garnishment of any of Grantor's accounts, Including d.poslt accounts, with lend.r. How.ver, this Ev.nt of Default shall not apply if th.r. is a good faith dispute by Grantor as to the validity or reasonablen.ss of tha claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives lender written notice of the creditor or forfeiture proceeding and deposits with lender moni.s or a sur.ty bond for the creditor or forfeltur. proc..ding, in an amount d.t.rmlned by l.nder, in its sole discr.tion, as b.ing an ad. quat. r.s.rv. or bond for the dispute. Breach af Oth.r Agre.mant, Any br.ach by Grantor under the terms of any oth.r agr.em.nt b.twe.n Grantor and lend.r that Is not r.medi.d within any grace period provided ther.in, including without IImlt.tion any .gre.m.nt conc.rning any indebtedness or other obiigation of Grantor to lend.r. wh.th.r .xisting now or lat.r, Events Affecting Guarantor. Any of the prec.ding ev.nts occurs with r.sp.ct to any guarantor, endorser. sur.ty, or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disput.s the validity of, or liability und.r. any Guaranty of the Ind.btedness. In the ev.nt of a d.ath, L.nd.r, at Its option, may, but shall 031.6632 loan No: 761001123 MORTGAGE (Continued) Page 4 coo r; 51 not be required to. permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in a manner satisfactory to Lender, and. in doing so. cure any Evenl of Default. Adverse Change. A material adverse change occurs in Grantor's financial condition, or lender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender in good faith believes Itself Insecure. RIGHTS AND REMEDIES ON DEFAULT: Upon the occurrence of an Event of Default an~ al any time thereafter, Lender. al Lender's option, may exercise anyone or more of the following rights and remedIes, In addition to any other lights or remedies provided by law: Accelerate Indebtedness. Lender shall have the rlghl at its option without notice to Grantor 10 declare the entire Indebtedness Immediately due and payable. including any prepayment penalty which Grantor would ba required to pay. UCC Remedies. With respect to all or any part of the Personal Property, Lender shall heve .11 the rights and remedIes of a secured party under the Uniform Commercial Code. Collecl Rents. Lende~ s~~1I have th~ ri?~t. without notIce 10 Grantor, to. take possession of the Property, including during the pendency of foreclosure. whether JudIcial or non'Judlclal, and collect the Rents, including amounls past due and unpaid. and apply the net proceed., over and above Lender's cost.. .gain.t the indebtedne... In rurtherance of thi. rlghl. Lender may require any tenant or other u.er of the Property to make p.yments of rent or u.e fees directly to Lender. If the Rent. .re collected by Lender, then Gr.ntor irrevocebly de.lgnate. Lender as Grantor's attorney-in-fact to endorse Instruments received in payment thereof In the name of Grantor and to negotiate the same .nd collect the proceeds. Payments by tenants or other users to Lender in re.ponse to lender's dem.nd .hall satisfy the obligation. for which the payments are made. whether or not any proper grounds for the demand existed. lender may exercise its rights under thl$ subpar.graph either in person, by ag.nt, or through. receiver. Appoint Receiver. Lend.r sh.II have Ihe right to have. receiver appointed to take po.ses.ion of all or ~ny part of th. Property, with the power to protect .nd preserve the Property, to operate the Property preceding roreclo.ura or .alo, .nd to collect the Rent. from Ihe Property and apply the proceed., over .nd above the co.t of the receivership, ag.inst the Indebtednass. Tha receiver m.y .erve without bond if permitted by law. Lender'. right to the appointment of . receiver shall exi.t Whether or not the apparent v.lue of the Property exceeds the Indebtednes. by a substanti.1 amount. Employment by lender .hall not dl.quallfy a person from serving a. a receiver. Judicial Foreclosure. lender may obtain. Judicial decree foreclo.lng Grantor'. interest in all or eny part of the Property. Nonjudicial Sol.. Lender may foreclo.. Gr.nto,'. interest in .11 or in any p.rt of the Property by non-Judicial sale. and specifically by "power of .ale" or "adverti.ement and sale" foreclosure .s provided by .tatuta. Dellclency Judgment. If permitted by applicable law. Lender may obtain a judgment for any deficiency ramalning In tha Indebtedne.. due to Lender after application of all amOUnts received from the exercise of the rights provided in this section. Tenancy at Sufferanca. if Grantor remains in po. session of the Property after the Property i. sold as provided above or Lender otherwl.a becomes entitled to posse. sian of the Property upon def.ult of Grantor, Grantor .hall become a tenanl at sufferance of lender or tho purchaser of the Property and shall, at lender's option, either (') pay a reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the d.mand of Lender. Other Remedle.. Lender shall have all other righls and remedies provldad In this Mortgage or tha Note or available at law or In equity. Sale of the Property. To the extent permitted by .pplic.ble law, Grantor hereby w.ive. any and all right to have Ihe Property marsh.lled. In e.erci.lng its right. .nd remedies. Lender .hall be free to .ell all or any part of the Property together or separalely. in one sale or by separata s.les. lender .hall be entitled to bid at .ny public sale on all or .ny portion of the Property. Notlca of S.la. Lender shall give Grantor reasonable notice of the time and place of any public s.le of tha Personal Property or of the lima .ft.r which any private .ale or other Intended di.po.ltion of the Personal Property Is to be m.de. Raa.onable notice shall mean notice given .t least len (101 d.y. before the time of the .ale or di.posltion. Any sale of the Person.1 Property may ba mada in conjunction with any sale of tha Raal Property. Elactlon of Remedlas. Election by l.rider .to pur.u. any remedy shall not exclude pur.ult of eny other remedy. and an election to make expenditures or to t.ke .ction to par form .n obligation of Gr.ntor under thl. Mortg.ge, efter Grantor's f.ilure to perform. sh.1I not affect lender's right to declare a def.ult and e.ercl.e it. remedlas. Nothing under this Mortg.ge or oth.rwi.e shall be construed .0 as to limit or restrict the rights and remedies available to lender following an Event of Default, aUn any way to limit or restrict the rights and ability of Lender 'to proceed directly against Grantor and/or against any other co-mak.er, guarantor, surety or endorser and/or to proceed against any other collateral directly or indirectly securing the Indebtedness. Attorneys' Fees; Expenses. If lender institutes any suit or action to enforce any of the terms of this Mortgage, Lender shan be entitled to r.cover such sum a. the court may adjudge reasonable .s .ttorn.ys· fees .ttrial and upon any appeal. Whether 0' not any court .ction is involved, and to the extent not prohibited bV lawI all reasonable expenses lender incurs that in lender's opinion are necessary at any time for the prolection of it. Interest or the enforeemonl of its rights shall become a part of the Indebtedness payable on demand and .hall bear Interest at the Note rate from the date of the expendilure until repaid. Expen.es covered by thi. paragraph includ., without IImilation. however subject to any limits unde'r applicable law, lender's reasonable attorneys' fees and lender's legel expenses whethe'r or not there is e lawsuit. Including reason.ble .ttorneys' fees and expen.es for b.nkruPlcy proceedings !including efforts to modify or vac.te any .utomatic .tay or injunctionl, appeals, and any anticipated post-judgm.nt collection services. the co.t of .earchlng records, obtaining tltla reports (including foreclo.ure reportsl, surveyor.' reports, and appr.isal fees and tllle In.ur.nèe. to the extent permitted by appllc.ble I.w. Grantor al.o will pay any court costs, in addition to all other .ums provided by law, NOTICES. Any notice required to be given und.r this Mortg.ge. including wlthoutlimlt.tion any notica of default and any notice of salo .hall be given in writing. and shall be effective when .ctually delivered, when actu.lly received by telefac.imile (unless otherwise required byl.wl. when depo.ited with a n.tionally recognized overnight cou,ler, or, If mailed, when depo.lted in the United States mail. .s first cl.... certified or registered mail postage prepaid, directed to th~ addresses shown near the beginning of this Mortgage. All copies of notices of foreclosure from Iha holder of any lien which h.s priority over this Mortgago .hall b. s.nt to Lender's address. as .hown near the beginning or this Mortgage. Any party may ch.nge its addre.s for notice. under this Mortgage by giving formal written notica to the other parties, specifying that the purpose of the notice is to change the party's address, For notice purposes. Grantor agrees to keep lender Informed at all times of Grantor's current address. Unles. otherwi.e provided or required by law. if there i. more than one Grantor, .ny notice given by Lender to .ny Grantor. Is deemed to be notice given to all Grantors. MISCELLANEOUS PROVISIONS. The following mi.cellaneous provision. .re a part of this Mortg.ge: Amendments. This Mortgege, together with any Related Documents, constitute. the entire understanding and agreement of the parties .s to the m.tter. .et forth in this Mortgage. No .Ite(atlon of or amendment to thIs Mortgage sh.1I be effective unless given in wrIting end .igned by the party or p.rties .ought to be ch.rged or bound by the alteration or amendment. Annual Raport.. If the Property is used for purpo.es other than Grantor's resid.nce, Grantor .hall furnish tó lender. upon request, . certified statement of net operating income received from the Property during Grantor's previous fiscal year In such form .nd det.iI as Lender shall require. "Net operating Incoma' .hall mean a/l ca.h receipt. from the Property Ie.. .11 cash expenditure. m.de In connection with the operation of the Property. Caption Headings. Caption headings In this Mortgage afe for convenience purposes only and are not to be used to Interpret or define the provisions of this Mortg'age. GovernIng Law. Thl. Mortgage will be governed by federal law applicable to lender and, to the extent not preempted by federal law. tha laws of the State of Wyoming without ragard to Its conflicts of law provisions. This Mortgage has baen accepted by landar In the State of Wyoming. Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender'. request!o submit to the Jurl.diction of the court. of Uncoln County. State of Wyoming. No Waiver by lender. Lender shall not be deemed to heve waived any rights under this Mortgage unles. such welver I. given In writing and signed by Lender. No del.y or omission on the part of Lender In exercising .ny right shall oper.te as a waiver of such right or .ny other right, A waiv.r by l.nd.r of . provision of this Mortg.ge .hall not prejudice or constitute a waiver of Lender's right otherwl.e to demand strict compliance wllh that provi.lon or .ny olher provision of this Mortg.ge. No prior waiver by lender, nor .ny course of de.ling between Lender and Grantor. .hall con.tltute a waiver of any of lende,'s rights or of any of Granlor's obligations .s to any future i;::::::!::::::::r:::::~ 0:~~~i~:~ W;~T?:;,,':!:';~ ':~~ :I!~~f~J~t~I;;~~r 091.6632················ loan No: 761001123 MORTGAGE ¡Continued) Page ¡: 0 (ì ~:' 5 2 tran.action.. Wh.n.v.r the consent of lender I. r.quir.d und.r thl. Mortgage, the granting of such consant by lend.r in any instenc. shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld In the sole discretion of lender. Sev.rability. If a court of compat.nt jurisdiction finds any provision of this Mortgag. to b. III.gal, Invalid, or un.nforcaabla as to any circumstance, that finding shall not make the offending provision JlJegal, invalid, or unenforceable 8S to any other circumstance. If feasible, the oU.nding provision shall ba consid.r.d modifi.d 50 that it b.com.s legal, valid and .nforc.able. "the offending provision cannot be so modified, it shall be considered deleted from this Mortgage. Unless otherwise required by law, the illegality, invalidity, or unenforceabJllty of any provi.ion of this Mortgag. .hall not aUact the legality, validity or enforceability of any oth.r provision 01 thl. Mortgage. M.rg.r. Th.r. .hall be no merger of the Int.rest or .stata craat.d by this Mortgage with any other int.r.st or èstate in the Prop.rty at any time held by or for the benefit of lender in any capacity, without the written consent of Lender. Succes.or. and Aulgns. Subject to any limitation. stated in this Mortgage on transfer of Grantor'. int.r..t, this Mortgage shall be binding upon and Inure to the benefit of the parties, their SUccessors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness by way of forbearance or exten.lon without r.lea.ing Grentor from the obligetions of this Mortgage or liability under the 'ndebt.dness. Tim. Is of the Essence. Time is of the ....nc. in the performance of thl. Mortgage. Waiver of Homestead exemption. Grantor hereby releases and waives all rights and b.n.fits of the homastead exemption laws or the State of Wyoming as to alllndebtednes. s.cured by this Mortgage. DEFINITIONS. The following capitalized words and t.rms shall have the following meanings when used in this Mortgage. Unles. specifically stated to the contrary, all referenc.s to doller emounts .hall m.an amounts in lawful money of the Unitad State. 01 Amarlca. Words and terms us.d in the singular .halllnclude the plural. and the plural shall include the singular, as the context may require. Words and t.rm. not otherwi.e d.flned in this Mortgage shall have the meanings attributed to such term. In the Uniform Commercial Code: Borrow.r. The word "Borrow.r· mean. K S land M INC.. A Wyoming Corporation and includes all co·.lgners and co.makers .igning the Note and all their successors and assigns. Default. The word 'Defeult" m.ans the Default ..t forth in this Mortgage in the section titled "Default.. Environmental laws. The words "Environm.ntal laws" mean any and ali state, federal and local stetutes, regulations and ordinance. r.lating to the protection of human h.alth or the environment, including without limitation the Comprehenslv. Environmental Response, Comp.nsation, and Llebility Act or 19BO, a. am.nded, 42 U.S.C. Section 9601, et .eq. ¡"CERCLA·I. 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, .t 'eq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901. ot seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of Default, The words 'Event 01 Default' mean any of the ev.nt. of d.fault ..t forth in this Mortgage In the .vents of default section of this Mortgag.. Grantor. The word 'Grantor' mean. K S land M INC., A Wyoming Corporation. Guaranty. The word "Guaranty" m.ans the guaranty from guarantor, endorser, sur.ty, or accommodation party to l.nder, including without limitation a guaranty of all or part of the Not.. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristic's, may cause or pose a present or potential hazard to human health or the environment when improperly u.ed, tr.ated, stored, dispo.ad of, generated, manufactured, transported or other wis. handled. The word. 'Hazardous Sub.tances" are u.ed In th.ir very broadest ..ns. and include without limitation any and all hazardous or toxic 5ub.tances, material. 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 asbe.tos. Improvement.. The word "Improvement.' maan. all existing and future Improv.ments, buildIng., structure., mobile homes affixed on the Real Property, facilitl.s, additions, replac.ments and other construction on the R.al Property. Indebt.dness. The word 'Indebtednass' means all principal, Interest, and other amounts, co.ts and .xpenses payable under the Note or Related Document., together with all renewals aI, .xten.ion. of, modification. of. consolidation. of and .ubstitution. lor the Note or R.lated Documents and any amount. exp.nd.d or advanc.d by lend.r to discharge Grantor's obligation. or exp.nse. incurred by lender to enrorce Grantor's obligations und.r this Mortgage, togeth.r with Inter.st on .uch amounts as provided in this Mortgag.. lender. Th. word 'lender' m.ans FIRST NATIONAL BANK - WEST, its successors and ..signs. Mortgage. The word "Mortgage" means this Mortgage between Grantor and lender. Note. The word "Not." m.ans the promissory not. dat.d February 28, 2006, In the original principal amount of $61,141.12 'rom Grantor to l.nd.r. tog.ther with ail ren.wals of, extension. or, modifications of, refinancings of, consolidation. of, and substitution. for the promissory note or agreement. P.rsonal Property. The words ·P.rsonal Property' mean all .quipment, fixture.. and oth.r articl.s of personal property now or h.reaftar ownad by Grantor, and now or hereaher attached or affixad to the Real Property,; togeth.r with all acces.lon.s, part~. ~nd. addltl~ns to, all replacéments of, and all substitutions for, any of .uch property; and togeth.r with all prooeed. !Including wIthout lImItation all In.uranc. proc.eds and r.fund. of premium.) from any .ale or other di.position of the Property. Prop.rty. The word "Property' means collectiv.ly the Real Property and the P.r. anal Property, R.al Prop.rty. Th. words "Real Property' mean the real property, interests and right., as further describ.d in this Mortgage. R.lat.d Documents, Th. words "Related Docum.nts· m.an all promissory notes, credit agreements, loan agr.ement., environmental agreements. guaranties. security agreements, mortgages, deeds of trust, security deeds. collateral mortgages, and all other Instruments, agreem.nt. and documents, wheth.r now or h.reatter existing. execut.d in connection with the Indebtedn..s. Rents. The word "Rents· means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived Crom the Prop.rty. GRANTOR ACKNOWLEDGES HAVING READ All THE PROVISIONS OF THIS MORTGAGE, AND GRANTOR AGREES TO ITS TERMS. By: By: LARRY l. BATES, Vice President of K S land M INC.. A Wyoming Corporation : '"':i''',~'i:...'·~:· ..~..- . ,>'<~.". MORTGAGE (Continued) r (\ n ¡., 5 3 '.' U ...)t.. Page 5 Ö9t6632n No: 76;001123 transactions. Whenever the. consent of Lender Is required under this Mortgage, the granting of such consent by Lender in any Instance shall 11'1\ constitute continµing consent to subsequent instances where such consent is required and In all cases such consent may be granted or withheld in the sole discretion of Lender. Severability. .If a court of competent jurisdiction finds any· provision of this Mortgage to be megal, Invalid, or unenforceable as to any circumstance, that ·finding shall not make the offending provision illegal, invalid, or unenforceable as. to any other circumstance. If feesible., the offending provisionsha.1I be considered modified so that it becomes legal, valid end enforceeble. Ir the offending provision cannot be so modified, it shall be considered deleted from this Mortgage. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Mortgage shail not affect the legality, validity or enforceability of any other provision or this Mortgage. Merger. There shail be no merger of the Interest or estate created by this Mortgage with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity, without tha written consent of Lender. Successors end Assigns. Subject to any limitations stated in this Mortgaga on transfer of Grantor's Interest, this Mortgage shall be binding upon and inure to the benefit of tha partias. their SUccessors and assigns. If ownership of the Property becomes vested in a perSOn other than Grantor, Lender, without noiica to Giantor, may deal with Grantor'. succes.or. with reference to this Mortgage and the Indebtedne.. by way of forbearance or extension without releasing Grantor from the obligations of this Mortgage or liability under the Indebtedness. Time Is of the Es.ence. Time Is of the essence In the performence of this Mortgage. Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the Stat. of Wyoming as to all Indebtedness secured by this Mortgage. DEFINITIONS. The following capitalized words and termS shall have the following mea'1ings when used In this Mortgage. Unless specifically stated to thecontra'Y, ell raferences to dollar amounts shall mean amounts in lawful money of the United States 0.1 America. Words andterms used in the singular shall include the plural, and the plural shall include the singuler, as the contaxt may require. Words .and terms not otherwise de. fined in this Mortgage shall have the meanings attributed to such terms in the Uniform Commercial Code: Borrower. The word 'Borrower' means K S Land M INC., A Wyoming Corporation and includes all co-signers and co-makers signing the Note and all their successors and assigns. . Default. The word "Delault" means the De/ault sei rorth In this Mortgage in the section titled 'Default". Environmental Laws. The. words "Environmental Laws' mean any and all state. federal a.nd local statutes, regulations and ordinances relating to the protection or human health or the envirOnment, including without limitation the Comprehensive Environmental Response, Compensation. and Uability Ac.t 01 1980, as amended, 42 U.S.C. Sactlon 9601, et seq. ("CERCLA 'J, 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 or this Mortgage. Grantor. The word "Grantor' means K S Land M INC., A Wyoming Corporation. Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser. surety, or accommodetion party to Lender, including without limitation a guaranty of all or part 01 the Note. Huardous Substances. . The words· "Hazardous Substances' mean materials that, because 01 their quantity, concentralJon or physical, chemical or ~nfectfous, cnBractEtrístics~ may cause _ or P?se-. a prese~t or þoteotral h8lé)rd.o to human health 0·( the environment when improperly used, treated. stored, disposed of, ganerated, manufa·ctured. transported or otherwise handled. The words 'Hazardous Substances" are used In their wiry 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 futúrs. improv~ments. buildings, structures, mobile homes affixed on the Real Property, facilities, additions. replacement. and other construction on the Real Property, Indebtedne... Tha word "Indebtedness" means all principal, Interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renawals of, extensions or, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advancad 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 M~rtgage. Lender. The word "Lender" means FIRST NATIONAL BANK - WEST. its successors and assigns. Mortgage. The word "Mortgage' means this Mortgage between Grantor and Lender. Nota. The word "Note" mean. the promissory note deted February 28, 2006. In the origInal principal amount of $61,141.12 rrom Grantor to Lender, togethar with all renewals 01. extensions of, modifications of. refinancings of. conaolidations of, and substitutions for the promi.sory note or agreement. Personal Property. The words 'Personal Proper1\¡" mean all equipment, fixtures, and other aiticles of personal property now or hereafter .ownedby Grantor,. and now or hereaftar .attached or .atiixed to the Real Property; together with all occosslons, parts. and additions to,all raplacements of, snd all substitutions for, iny of such property; and together with all proceed. (including without limitation all Insurance proceeds and refunds of premiums) Irom ony sele or other dispooition of the Property. Property. The word' Property" means collectively the Real Property and the Parsonal Property, Real Property. The words "Real Property" mean tha real property, Interests and rights. as further dascribed In this Mortgage. Related Documenta. The words 'Related Documents' mean all promissory note., credit agreement., loan agreements, environmental agreements, guaranties, security agraements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other Instruments. agreements end documents, whether now or hereaftar axisting, executed in connection with the Indebtedness. Rents. The word -Rents· means all present and futurè rents, ,'evenues, income, issues. royalties, profits~ and other' benef!t~ derived from the Property. GRANTOR ACKNOWLEOGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE, AND GRANTOR AGREES TO ITS TERMS. GRANTOR: K S LAND M INC.. A WYOMING CORPORATIQN By: KIRK E. HATHAWAY. Prasldent of K S Land M INC.. A Wyoming Corporation ~ 0316632 Loan No; 761001123 MORTGAGE (Continued) Page 6 ronq~4 1.,\ Uí;"~ CORPORATE ACKNOWLEDGMENT ~~'5 t"~~~""""""",~",~~ , j . ~ ,'~"'I\Y "/J'!',-_ f ,. ~., "n" Grt1ll'.: ....-.. ss : ¡~l:'_~"::~"":~ DIANNA H. WAITS , cu- r ~ I ; ª ..~,!,- f· i Notary Public, Slale 01 Texas J i #' "'):', ,'" ~... M C .. ~ <-" 411'" "\.....,.'~ y ommlSSlOn hplres 01·07·1 0 ~ L... ~ 'I, Of' ,...... ill ~ T" "'- ^ A ^ r c)...- r-<1 _ . ··..11".." ~ On Ihis day of I V"-Y'-'"' , 20 ~, beforè 1M: 'tin. 'bnde,.,igned- NOI&r.....PuI1Ji<:~'i~I(.........~ appeared KI E. HATHAWAY, President of K 5 Land M INC.. A Wyoming Corporation, and known to me to be an authorized agent of the corporation that axecuted the Mortgage and acknowledged the Mortgage to be the free and voluntary act and deed of the corporation. by authority of its Bylaws or by resolution of Its board of directors. lOr the uses end purposes therein mentioned, and on oalh stated that he or she is auth 'zed to execute this Mortgage and in I~ct executed the Mortgage on behalf of the c.arpo/aiion. (" ~. ~ ~ By ~ Residing at_4t ç, ÆJv..-(7T\.... (' £)fA' ~ ( r .1-' W(:rý I Notary Public in and lor the State of My commission explra. l -- Î - I\:) STATE OF COUNTY OF CORPORATE ACKNOWLEDGMENT' iV\¡QEN r. W1'ì1t!.. NOrNfr PUBUQ COUf,ty of ~ S!a!e of l!!,¡ooln QJ1 ';¡t:.r.-Jlr4 ~~y Corr.m!sshm t;cp¡r~ ro(..s;-/2c?1 On this fo ~ day of VI'\..a,v~ . 20 .f2..k., before m~ theu~derSlg~e 'otar' b ;c: po. . , appeared LARRY L. BATES, Vlca President of K S Land M INC.. A Wyoming Corporation, and known to me to be an authorized agent or the corporation that execute<:j the Mortgage and acknowledged the Mortgage to be the frea and voluntarv act and deed of the corporation, by authority of its Bylaws or by resolution 01 its board or directors, lor the USas and purposes therein mentioned, and on oath atatedthat he or she is au~o e~te his rtgage and in fact executed the Mortgage on behaif 01 the corporation. By ~. Residing at L-; ",c..c ['-I. ~v""''h, r c.()~ /,0 Is- (1..Ð0í STATE OF -LL'<1 OWUu..~ COUNTY OF L-(l/I..C.olV1 ) 55 Notary Public 'n and ro. the State of LP '1 [) vu¿ '^-"':; My commission expires LASrl'lpllO~ v.....JO.OO_COI COII. M-'..II'In..,ql '""........". I"'. 'lOOt. ...1'I1Qh.."........... .W'f O~\lAS~M'IIO\~\ODJ.PC "".".. tilliiifm~1Æt: