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Home My WebLink About916739 , u RECORDATION REQUESlED BY: FIRST NATIONAL BANK- WEST Afton :314 South WashIngton St. P.O. Box 1620 Afton, WY .83110 (00570 WHEN RECORDED MAlL TO: FIRST NATIONAL BANK- WEST Afton :314 South Wuhlngton 51. p.o. Box 1620 Afton, WY .83110 RÊCEIVED 3/17/2006 Bt2:01 PM RECEIVING# 916739 BOOK: 614 PAGE: 570 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER. WY SEND TAX NOTICES TO: FIRST NATJONALBANK- WEST Afton 314 South Wuhlngion 51. P.O. Box 1620 Afton. WY 83110 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY MORTGAGE THIS MORTGAGE Dated March 15,2006, Is made and executed between TRAVIS DANA Bnd HElD I DANA, HUSBAND AND WIFE (referred to below .as "Grantor") and FIRST NATIONAL BANK - WEST, whose Bddress is 214 South Washington S1., P.O. Box 1620, Afton, WY 83110 (referred to below.as "under"). ûRANT OF MORTGAGE. For v4lUable t:onslderatlon, Grantor mortgages.and t:onveys to .Lender all of Grantor's right, title, lInd inteœst in and 10 the 1ollowin~ Described real property, together with lIlI existing Dr subsequently srÐCted or lIfflXed builDings, improvements lInd 1ixtuœs; all easements, rights of way, and .appurtenances; all water, water rights, watercourses and Ditch rights (including stock in utilities with Ditch Dr irrigation rights); lInd all other rights, royalties, and profits relati~9 to the real prope~ includin~ without limitetion all minerals, oil, Qas, !;Ieothermal and similar matte~. (the "Real Property") located jn LINCOLN County, ò:)tate of Wyoming: Part of Section 18, T34N R118W of the 6th P.M., Lincoln County, Wyoming, being more particularly described .as follows: COMMENCING 466 feet North of the Southwest Comer of the SW1/4NW1/4 of saia Section 18 Bnd running thence East 466 feet; thence South 198.5 feet; thence West 466 feet; thence North 198.5 feet to the Place of Beginning. The Real Property or its .address Is commonly known.as 1084 MUDDY STRING ROAD, THAYNE, WY83127. Brantor presently .assigns 10 .Lender lIlI Df Brantor's right, tltle,.and interest in lInd to.all present lInd future leases Df the Property lInd lIlI Rents 1rom the Property. In .addition, Brantor grants to .Lender .a Uniform Commercial Code :security inteœst in the PBrsonal Prtlperty .and Rents. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INlEREST IN THE RENTS AND PERSONAL PROPERTY, JS ûlVEN TO SECURE (A) PAYMENT OF THE INDEB1EDNESS AND (5) PERFORMANCE OF ANY AND AU. OBLIGATIONS UNDER THE NOlE, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEP1ED ON THE FDU..QWING TERMS: PAYMENT AND PERFORMANCE. Except.as Dlherwise provided in this Mortgage, Grantor shall pay to .Lender lIlIlImounts:secured by this Mort¡;¡age .B.S ihey become nue.and shall strictly perform.all Dt Brantor's Dbligations under this Mortgage. ' POSSESSION AND MAINlENANCE OF THE PROP.ERTY. Grantor .agrees that Grantor's pœsession.and use Df the PrDperty shall be governed by the 1Dllowlng provtslons: PDSSeSSIon Md Use. Until the DCCurrence Df lIn Event of Default, Grantor may (1), remain in pDSseSSion lInd .contrDI Df ihe Property; (2) .use, Dperate Dr managa the PrnperIy; and (3) t:Ollect the Rents 1rom the Property. Duty to MaIntain. .Grantor shall maintain 1he Property in good .condition lInd prDrnptly perform lIlI æp.ai~, replacements, lInd maintenance necessary to preserve its v.aJue. !:Dmpllance With Envlronmentall.aws. Brantor represents.and warrants to !snder that: (1) During the :period of Brantor's owne~hip of the PTDperty, there has .been no .use, generation, manufacture, storage, treatment, nisposal, release Dr threatened release Dt .any ~rdD1JS Substance by .any :pe~on Dn, under, .about Dr -frDm the Property; (2) Brantor bas no knowledge of, Dr reason to believe that there has been, BXCept.as previously Disclosed to lInd .acknowledged by .Lender in writing, (a) .any breach Dr violation of .any EnvironmentelLaws, (b) .any use, generation, manufacture, storage, treatment, nisposal, release Dr threatened release of .any Hazardous Substance Dn, under, .about Dr -from the Property by Bny prior Dwne~ or DCeupants of the Property, or (c) any.actual Dr threatenad litigation Dr t:laims Df .any kind by lIny pe~on reJatin!;l io such matte~; .and (3) Except.as previously nisclosed 10 .and .acknowledged byander In writing, (a) neither Grantor nor .any tenant, .contractor, .agent Dr Dther .authorized JJ5er Df the Property shall JJ5e, generate, manufacture, store, treat, .dispose Df Dr release Bny Hazardous Substance Dn, under, .about Dr 1rom the Property; lInd (b) lIny:such .activity shall be t:onducteD in t:ompliance with .all .applicable federal, slate, .and local Jaws, regulations.and Drdinances, including without limitation lIlI Environmental Laws. Grantor lWthorizes .Lender and its lIgents 10 snter .upon the Property 10 make such Inspections lInd tests, .at Grantor's axpense, .as .Lender may deem .appropriate to .determine .compliance Df the Property with this :section Dt the Mort¡;¡age. Any inspections Dr tests nuuie by .Lender shall be 10r ander's purposes Dnly lInd shall not be J:Onstrued to .create .any responsibility Dr liability Dn the part Df .Lender 10 Brantor Dr 10 .any other :pe~on. The representetions lInd warranties .contained herein Bre based Dn Grantor':s nue niligence In Investigating the Property 10r Hazardous Substances. Brantor hereby (1) releases Bnd waives .any 1uture dalms .çainst .Lender 10r Indemnity Dr t:Ontribution in the Bvent Brantor becomes liable for .cleanup Dr other .costs under lIny such Jaws; .and (2) .agrees to indemnify,.and hold harmless .Lender .against.any .and.all daims, losses, liabilities, namages, penalties,.and BXpenses which .Lender may nirÐCtly Dr indirectly.sustain Dr .suffer TesJJlting -frDm .a breach Df this section Dt the Mort¡;¡age Dr .as II t:onsequence Df .any .use, generation, manufacture, storage, Ifisposal,release Dr threatened release .occurring prior to Brantor's DWJ'!9/Ship Dr interest In 1he Property, whether Dr not the same was Dr should have bsen known 10 Grantor. The provisions ot this :section Dt the Mort¡;¡age, including the :obligation to jndemnity, shall survive the payment Df the Indebtedness Bnd the satisfaction .and reconvey.ance Dt the lien Dt this Mort!;la!;le lInd shall not be .affected by .Lender':s .acquisition Df lIny interest in the Property, whether by foreclosure Dr DtherwÏ5e. Nuisance, Waste. Brantor shall not 1:81JS9, t:onduct or :permit Bny nuisance nor t:ommit, permit, Dr.suffer .any stripping Df Dr waste Dn or 10 the PrDperty or .any pDrtion of the Property. Without limiting the generality Df the 1Dregoing, Brantor will not relTlDve, Dr !;Irant 10 lIny Dther party the right to relTlDve, .any timber, minerals (including DillInd Qas), t:aaI, day, scoria, soli, gravel or rock proDucts without.Lender':s prior written J:Onsent. Removal Df JmprDvements. Brantor shall not Demolish Dr Têmove .any Improvements -from the Real Property without .Lender's prior written amsenl. As B t:ondition 10 the relTlDval Dt lIny Improvements, .Lender may require Grantor 10 make .arrangements satisfactory 10 .Lender to replace such Improvements with Improvements ot.at least -equal v.aJue. .Lender's Right to Enter. .Lender lInd .Lender':s .agents lInd representatives may .anter .upon the Real Property.at lIlI reasonable times 10 .attend 10 .Lender':s interests.and 10 inspect the Real Property 10r purposes Df Grantor's .compliance with the terms.and t:Onditions Df this Mort¡;¡age. !:ompl1ance with Governmental RequIrements. Grantor shell promptly t:Omply with .all Jaws, .tIrdinances, .and regulations, now .tIr hereafter in .affect, Df .all governmental ..authorities ..applicable 10 the use Dr DCCupancy Df the Property. Grantor may .contest in gooD 'faith lIny such Jaw, ordinance, or regulation Bnd withhold t:Ompllance During Bny prDCeeding, Including .appropriate .appeals, so Jon!;l BS Grantor bas notified Lender in writing prior 10 Doing so .and so long BS, In ander's sole Dpinion, ..Lender's Interests In the Property .are not jeopardized. ander may require Grantor 10 post.adequate :security Dr .a surety bond, reasonably salisfactory to.Lender, 10 protect.Lender's Interest. Duty to Protect. Brantor lIgrees neither 10 .abandon Dr leave unattended the Property. Brantor shall DO .all other .acts, in addition 10 those .acts set jorth..aboV9 in this :section, which 1rom 1he t:har.acter Jind use .tIf the Property lire reasonably necessary 10 protect lInd preserve the Property. TAXES AND LJENS. The followin!;l provisions relating 10 the :!exes lInd liens Dn the PrD:perty .are part Dt this Mortga1;le: P.ayment. Bœntor shall pay when nue (and jn lIlIsvents prior 10 Llelinquency).al1 :!exes, payroll taxes, special taxes, .assessments, water .charges .Bnd sewer :service t:harges levied B!;aInst Dr Dn lICCOunt Df ihe Property, Bnd shall pay when .due .all t:laims 10r work .done Dn .tIr jar :services '{ '/ : H~!;·:t.t 't¡~~ti ~iI¡;~~lÆ:i}t¡llijf@ Loan No: 64003322 O~1.6739 ;t:~:::;::5::::i:~;:';¡ 1~'.I'í'!l"" ,~; ,', Mdfif~AGE (Continued) C00571 PBge 2 rendered or material furnished to the Property. Grantor shall maintain the Property free of any liens having priority Dver Dr squal to the interest Df Lender under this MDrtgage, sxc:ept for those liens specifically agreed to in writing by Lender, Bnd sxcept for the lien Df taxes Bnd .assessments not Due.as further specified in the Right to Contest paragraph. Right to Contest. Grantor may withhold payment of Bny tax, assessment, or daim in L:onnection with B good faith Dispute Dver the .obligation to pay, so long .as Lender's Interest in the Property is not jeopardized. If a lien arises Dr is filed.as B IÐSUIt of nonpayment, Gœntor shall within fifteen (15) Days Bfter the lien Brises Dr, If B lien is filed, within fifteen (15) rlays after Grantor has notice of the filing, secure the Discharge of the lien, Dr if requested by Lender, Deposit with Lender !:aSh Dr B sufficient corporate suœty bond Dr Dther security satisfactory to Lender in Bn amount sufficient to discharge the lien plus Bny L:osts Bnd reasonable attorneys' fees, Dr other charges that L:ould .aL:crue .as B result of B foreclosure Dr sale under the lien. In any contest, Grantor shall Defend Itself and Lender and shall satisfy any .adverse judgment befDre snforL:ement against the PrDperty. Grantor shall name Lender .as an additional Dbligee under any surety bond furnished in the contest pr.oceedings. EvIdence Df Payment. Grantor shall .upon Demand furnish to Lender satisfactory svidence of payment of the taxes Dr .assessments Bnd shall .authorize the appropriate governmental Dffù:ial to Deliver to Lender Bt any time B written statement of the taxes Bnd .assessments Bgainst the Property. Notlce of Constructlon. Grantor shall notify Lender Bt least fifteen (15) rlays befDre Bny work is commenced, .any services Bre furnished, Dr Bny materials are supplied to the Property, If any mechanic's lien, materialmen's lien, Dr other lien could be .asserted on .account Df the work, services, Dr materials. Grantor will upon request Df Lender furnish to 1.ender advance assuœnces satisfactory to Lender that Gœntor can Bnd will pay the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the PrDperty .are a part Df this Mortgage: Maintenance Df Insumnce. Gœntor shall prDcure .and maintain policies of fire insurance with standard sxtended coverBge sndorsements on B replacement basis for the full Insurable value covering all Improvements on the Real PrDperty in Bn Bmount suffù:ient to .avDid application Df .any coinsurance clause, Bnd with B standard mortgagee clause In favor of !.snder. Policies shall be written by such insurance companies Bnd in such form .as may be reasonably Bcceptable to Lender. Grantor shall deliver to Lender certificates Df coveœge irDm sach insurer containing B stipulation that coverBge will not be cancelled Dr Diminished without B minimum of thirty (30) days' prior written notice to Lender Bnd not containing .any disclaimer of the insurer's liability for failure to give such notice. Each insuœnce policy .also shall Include Bn sndorsement providing that coverBge in favor of Lender will not be impaired in Bny way by any act, Dmission Dr .default of Grantor Dr Bny .other .person. Should the Real Property be located In Bn Brea .designated by the Director of the Federal Emergency Management Agency .as B special flood hazar.d BIÐ8, Gœntor .agrees to Dbtaln Bnd maintain Federal Flood Insurance, if Bvallable, within 45 rlays Bfter notice is given by Lender that the Property is located in B special flood hazard .area, for the full unpaid principal balance .of the loan Bnd .any prior liens .on the prDperty securing the Joan, up to the maximum policy limits set under the National Flood Insuœnce Program, or.as otherwise required by Lender,.and to maintain such Insurance ior the term Df the loan. Appllcatlon .of Pr.oceeds. Gœntor shall promptly notify Lender .of Bny loss Dr rlamage to the PrDperty If the estimated cost of repair Dr replacement axoeeds $1,000.00. Lender may make proof Df loss If Gœntor fails to do so within fifteen (15) rlays Df the !:aSualty. Whether.or 110t Lender's security is Impaired, Lender may, Bt Lender's slection, receive Bnd retain the proceeds Df Bny insuœnce Bnd apply the pn:>ceeds to the reduction Df the Indebtedness, payment of .any lien Bffecting the Property, Dr the restoration Bnd repair Df the Property. If Lender sleets to .apply the prDceeds to IÐStoration .and repair, Grantor shall repair Dr replace the rlamaged Dr destroyed Improvemants in B manner satisfactory tol..Bnder. Lender shall, .upon satisfactory proof of such sxpenditure, pay Dr reimburse Grantor irom the pr.oceeds ior the reasonabte cost Df repair Dr restoration if GrBntor is not in default under this Mortgage. Any proceeds which have not been disbursed within 1BO rlays .after their receipt .and which Lender has not committed to the, repair Dr restoration of the PrDperty shall be used first to pay Bny Bmount .owing to l..Bnder .under this Mortgage, then to pay.accrued interest, .and the remainder, jf Bny, shall be applied to the principal balance Df the Indebtedness. If !.snder holds Bny proceeds Bfter payment in full Df the Indebtedness, such prDCeeds shall be paid to GrBntor.as Gœntor's interests may.appear. J..ENDER'S EXPENDITURES. If Gœntor falls (A) to keep the Property tree Df .all taxes, Jiens, security intelÐSts, sncumbrances,.and .other l:iairns, (8) to provide Bny required Insurance Dn the PrDperty, Dr (C) to make repairs to the Property then Lender may DO so. ,If :any .action Dr procee.ding is L:ommenced that would materially .affect Lender's IntelÐSts In the Property, then Lender .on Gœntor's behalf may, but is not required to, take :any .action that !.snder believes to be apprDpriate to protect Lender's interests. All expenses incurred or paid by Lender ior such purposes will then .bear interest .at the rate charged under the Note from the date incurred Dr paid by Lender to the rlate Df repayment by Gœntor. All such -expenses will become a part of the Indebtedness Bnd,.at Lender's option, will (A) be payable Dn .demand; (8) be .added to the balance Df the Note.and be apportioned .among .and be payable with Bny installment payments to become Due during either (1) the term Df Bny applicable insuænce policy; or (2) the remaining term of the Note; Dr (C) be treated.as B balloon payment which will be !lue and payable Bt the Note's maturity. The Mortgage Blso will secure payment Df these Bmounts. The rights provided for in this paœgraph shall be in .addition to Bny Dther rights Dr Bny remedies to which !.snder may be sntitled .on m:count Df Bny Default. Any.such action by Lender shall not be constr.ued .as .curing the default so.as to bar .Lender from .any remedy that it Dtherwise would have had. WARRANTY i DEFENSE DF TITl.E. The following prDvisions relating to ownership .of the Property Bre.a part of this Mortgage: Title. Grantor wammts that: (a) Gœntor flolds good .and marketable tille .of record to the Property In 1ee simple, iree:and clear of BII liens Bnd sncumbrances Dther than those set iorth In the Real Property description Dr in Bny tllle Insurance policy, 1IIIe report, Dr final tllle Dpinion issued in favor Df, Bnd .accepted by, under in .connection with this Mortgage, .and (b) Grantor f1as the full right, power, .and .authority to BXBCJJte .and Deliver this Mortgage to Lender. Defense of Title. Subject to the sxception In the paragraph .above, Gœntor warrants Bnd will f.oreve(defend the tllle to the Property .against the Jawful claims of BII persons. In the svent Bny .aL:tion Dr prDcee.ding Is commenced that ~uestions Gœntor's tllle.or the IntelÐSt.of Lender under this Mortgage, Grantor shall defend the .aL:tion .at Gœntor's sxpense. Grantor may be the nominal party in .such pr.oceeding, but Lender shall be sntitled to participate in the pr.ocee.ding :and to be repœsented in the prDCeeding by counsel of Lender's Dwn choice,.and Gœntor will deliver, Dr cause to be delivered, to Lender such instrumants .as Lender may request from time to time to permlt.such participation. Compliance With l.aws. Grantor warrants that the PrDperty .and Grantor's use .of the Property complies with ~II BXisting .applicable Jaws, .ordinances, Bnd regulations Df governmental.authorilies. SurvIval .of Promises. All promises, .agreements, Bnd statements Gœntor f1as made In this Mortgage shall survive the BXBCution Bnd .delivery of this Mortgage, shall be continuing in nature Bnd shall remain in fulliorce .and sffect .until such time.as Gœntor's Indebtedness is paw in full. l:ONDEMNATION. The following provisions relating to condemnation pn:>ceedings .are B part .of this Mortgage: Pr.oceedlngs. If Bny prDCee.ding in .condemnation is filed, Grantor shall promptly notify Lender In writing,.and Gœnlor shall prDmptly take .such steps.as may be necessary to defend the action Bnd .obtain the Bward. Bœntor may be the nominal party in.such prDceeding, but Lender shall be sntitled to participate In the proceeding .and to be repœsented in the pr.oceeding by counsel of Its .own choice, Bnd Gœntor will .deliver Dr cause to be Delivered to Lender such instrumentsBnd .documentation .as may be requested by Lender irom time to time to permit such participation. Application .of Nel Pr.oceeds. IfBII Dr .any part Df the Property is condemned by sminent domain pn:>ceedings Dr by .any prDceeding Dr purchase In lieu of condemnation, Lender may.at Its Blection require that BII Dr Bny portion Df the œt proceeds Df the Bwar.d be .applied to the Indebtedness Dr the repair Dr IÐStoration.of the Property. The net proceeds .of the award shall mean the .award Bfter payment of .ell reasonable costs, ÐXpenses, .and Bttorneys' fees incurred by Lender in l:onnection with the condemnation. JMPOSITJON OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following prDvisions relating to governmental taxes,iees .and L:harges Bre B part of this Mortgage: Current TUBS, Fees.and l:harges. Upon request by Lender, Gœntor shall BXecJJte .such Documents in .addition to this Mortgage Bnd íake whatever .other .aL:tJon is requested by Lender to perfect Bnd continue Under's lien Dn the Real Property. GrBntor shall reimburse under for .all taxes,.as described below, together with BII -expenses incurred in recOr.dlng, perfecting Dr continuing this Mortgage, including withDut limitation BII taxes, fees, Documentary stamps, .and .other charges for recording Dr registering this Mortgage. Tues. The iollowing shall constitute taxes to which this section .applies: (1) B specific tax .upon this type .of Mortgage Dr .upon BII Dr .any part .of the Indebtedness .secured by this Mortgage; (2) .a .specifIC tax.on Grantor which Bœntor is .authorized Dr required to Deduct irom payments Dn the Indebtedness secured by this type of Mortgage; (3) B tax Dn this type of Mortgage chargeable .a9ainst the Lender Dr the holder of the Note; .and (4) .a specific taxDn BII Dr .any portion .of the Indebtedness Dr Dn payments of principalBnd interest made by Grantor. Subsequent Tues. If Bny tax to which this section .applies is enacted subsequent to the date .of this Mortgage, this svent shall have the same sffect.as Bn Event .of Default, Bnd Under may sxercise .any Dr .all of its BVailab1e remedies ior .an Event .of Default.as prDvlded below unless Bœntor sither (1) pays the tax before II becomes Delinquent, Dr (2) l:ontests the tax.as provided .above in the T.axes .and 1.Iens .section Bnd Deposits with Lender !:aSh Dr .a sufficient corpoœte surety bond Dr .other .security satisfactory to Lender. 0916739 Loan No: 64003322 MORTGAGE (Continued) C00572 PBge 3 SECURITY AGREEMENT¡ FJNANCING STATEMENTS. The following provisions relating to this Mortgage .as a security agreement are a part of this Mortgage: Security Agreement. This Instrument shalll:onstitute a Security Agreement to the ÐXlent any of the Property .constitutes flXlures, anti ander shall have all of the rights of a secured party .untler the Uniform Commercial Code.as amentled from time to time. Security Jnterest. Upon request by Lender, Grantor shall take whatever action is requested by ander to perfect .and t:ontinue Lentler's security Interest in the Pel50nal Property. In .addition to recording this Mortgage In the real property records,ander may, at any time and without further .authorization from Grantor, file executed counterparts, l:oples or reproductions of this Mortgage.as a financing statement. Grantor shall reimbul5e Lender for all expenses incurred In perfecting or t:ontinuing this security Interest. Upon default, Gamtor shall not remove, sever or tletach the Pel50nal Property from the Property. Upon tlefault, Grantor shall assemble any Pel50nal Property not .affixed to the Property in .a manner .antl.at.a place reasonably convenient to Grantor and Lender .and make It available to Lender within three (3) Days .after receipt of written tlemand from ander to the ÐXlent permitted.by .applicable Jaw. Addresses. The mailing .addresses of Grantor (debtor) .and ander (secured party) from which Information .concerning the 5eCUrity interest granted by this Mortgage may be obtained (each.as required by the Uniform Commercial Code) .are .as stated Dn the fil5t page Df this Mortgage. FURTHER ASSURANCES¡ ATTORNEY-IN-FACT. The following provisions relating to further .assurances .and .attorney-in-fact .are .a part of this Mortgage: Further Assurances. At .any time, .and frDm time to time, upon request Df Lender, Gr.antor will maJœ, .axecute .and tleliver, Dr will cause to .be made, executed Dr tlelivered, to Lender or to Lender's tlesignee, anti when requested by antler, cause to .be filed, rBeortled, refiled, or rerecorded, .as the t:ase may be, .at such times.antl in such offices .anti places .as Lender may tleem .appropriate, .any .anti .all such mortgages, tleeds of trust, security tleeds, security .agreemenis, financing statemenis, t:ontinuation statements, instruments of further .assurance, œr1lficates, .and Dther tlocuments .as may, in the sole opinion of Lender, .be necessary or .desirable in or tier ío effectuate, l:omplete, perfect, t:ontlnue, or preserve (1) Grantor's obligations .under the Note, this Mortgage, .anti the Related Documents, .and (2) the liens.antl security Interests t:reated by this Mortgage on the Property, whether now owned or hereafter acquired .by Grantor. Unless prohibited by Jawor ander .agrees to the t:ontrary in writing, Grantor shall reimburse Lenderfor .all I:DSIs.antl expenses incurred In t:onnection with the mattel5 referreD to in this paragraph. Attomey-ln-F.act. If Grsntor falls to tlo ,any of the things referred to In the preceding paragraph, Lender may tlo so for snd in the name of Grantor snd st Grantor's expense. For such purposes, Grantor hereby Irrevocably appoints Lender .as Grantor's sttorney-in-fact for the purpose of making, executing, tlelivering, filing, recortling, .and tloing .all other things .as may be nacessary or .desirs.bJe, In Lentler's sole opinion, to .accomplish the mattel5 referred to In the preceding paragraph. FULL PERFORMANCE. If Grantor pays all the Indebtedness, including without limitation.all future advances, when tlue,snd otherwise performs.all the Dbligations imposed upon Grantor .under this Mortgage, Lentler shall execute and lieliver to Grantor.a suitable satisfaction of this Mortgage.and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents.antl the Pel50nal Property. Grantor will pay, if permitted .by .applicable Jaw ,.any reasonable termination fee.as Determinad by antler from time to time. EVENTS OF DEFALI..'T. At :Lentler's option, Grsntor wlll.be In Default .under this Mortgage If liny of the following happen: PJlyment Defaltt. Grantor falls to make liny payment when Due under the Indebtedness. Default on other PJlyments. F.allure of Grantor within the time required by this Mortgage to make liny payment for faxes or Insurance, :or liny other payment necessary to prevent filing of or to effect Discharge of sny lien. Break other Promises. Grsntor .breaks liny promise made to Lender or fails to perform promptly lit the time lintl strictly Inthemannar provided in this Mortgage Dr In .any .agrsement related to this Mortgage. FJIlse Statements. Any representation :or statement made or furnished to .lender .by Grantor :or on Grantor'$ .behalf .under this Mortgage:or the Related Documents js faise or misleading in any material respect, ,either now or st the time made or furnished. Defectlve Collatel1llJ2atlon. This Mortgage or .any :of the Related Documents œases to be in full force snd effect (including failure of liny 1:OIIateral Document to create 11 valid lind perfected security Interest or lien).at .any time lintl for liny reason. Death or Jnsolvency. The .death of Grantor, the Insolvency of Grantor,the.appointment of.a receiver for liny part of Grsntor's property,liny .assignmenl for the benefit of l:reditol5, liny type of l:reditor workout, or the t:ommencemenl of .any proceeding .under liny bankr.uptcy Dr Insolvency taws by or sgai05t Grantor. , . TJlklng of the Property. Any t:reditor or govemmentalligency tries to fake liny of the Property or any other of Grantor's property in which antler has s Jlen. Thislncludas faking of, garnishing of or Jevying on Grsntor's .accounts with Lender. tiowever, if Grantor DispUtes in gootl faith whether the l:laim on which the taking of the Property is .based js vslid or reasonable, lintl if Grantor gives Lender written notice of the claim lintl furnishes Lentler with monies or s surety bond satisfactory to Lender to satisfy the claim, then this œfault provision will not.apply. Breach of Other Agreement. Any breach by Grantor lInder the terms of .any other ligreement .between Grantor snd Lender that is not rerned1ed within sny 1race period provided therein, iricluding without limitation sny .agreemenll:oncerning sny indebtedness or other Dbligation of Grsntor to Lender, whether ÐXisting now or Jater. ..Events Affectlng GWll'JlJJtor. Any of the preceding events DCCUI5 with raspect to any guarantor, endol5ØT, surety, or .accommoDation party of .any of the Indebtedness or liny guarantor, endorser, surety, or .accommodation party tiles or .becomes incompetent, :or revokes or tlisputes the vslidity of, or liability .under,liny Guaranty of the Intlebtedness.ln the event of s Death, Lender,.at its option, may,lwt shall not.be required to,permit the nuarantor'$ state to.assume .uncontlitionally the Dbligations lirising .under1he guarsnty In .a manner .satisfactory to Lender, lintl, in tiDing so, t:ure liny Event of Default. Jnsecurlty. Lender in good faith .beUeves itself Insecure. RIGHTS AND REMEDIES DN DEFAULT. Upon the Dccurrence of an Event of Defaulllind lit liny time thereafter but subject to liny limitation in the Note or liny limitation in this Mortgage, Lender, st Lender's option, may exercise .anyone or more of the following rights .and remedies, in .addition to linyother rights or remedies provided .by Jaw: Accelerate Indebtedness. Lender shall have 1he right lit its option without notice to Grantor to .declare 1he ,entire Indebtedness immediately.r:tue lintl pays.ble, including sny prepayment penalty which Grantor would be required to pay. ' UCC RemedIes. With respect to lill or liny part of the Pel5Dnal Property, Lender shall have.all the rights lind remedies of s secured:party .under the Uniform Commercial Code. Collect Rents. Lender shall have the right, without notice to Grantor, to fake possession of the Property, including .cturing the pendency of ioreclosure, whether judicial Dr non-judicial, lind l:ollect the Rents, including .amounts :pest Due .and .unpaid, lind .apply the net proceeds, Dver .anti .above ander's l:osts, ligainst the Indebtedness. In furtherance of this right,ander may require liny tenant or other .user of the Property to make payments of rent or .use fees Directly to Lender. If the Rents lire t:ollected by Lender, then Grsntor irrevocably .desIgnates ander .as Grantor's littorney-irHact to entlorse i05trllments received in payment thereof in 1he name of Grantor .and to negotiate the .same lintl t:ollect the proceeds. Pliyments .by tenants or other .usel5 to antler in response to antler's æmantl shall satisfy the Dbligatio05 for which the payments lire made, whether or notsny proper gmunds for the Demantl ÐXisted. ander may exercise its rights .untler this subparagraph ,either In pel5on, by ligent, Dr 1hrD1lghli receiver. AppoInt ReceIver. .lender shall have the ri9ht to have a receiver .appointed to íake possession of .all or liny:part of 1he Property, with the power to protact lintl preserve the Property, to operate the Property preceding foreclosure or sale, .and to .collect the Rents from the Property lintl .apply the prDceeds, over lind .above the t:ost of the receivel5hip, sgainst the Indebtedness. The receiver may serve without bond If permitted by law. Lender's right to the .appointment of li receiver shall ÐXist whether or not the .apparent value of the Property exceeds 1he Intlebtedness by li subsJanllallimounl. Employment.by Lender shall not Disqualify s pel50n frDm serving.as a receiver. ~udiclal Forectosure. Lender may Dbtain li jUdicJal.decree foreclosing Grsntor's interest in .all or .any :part of the Property. Nonjudicial Sale. .lender may foreclose Grantor's Interest in lill or in liny part of the Property by non-Judlclal.sale, lind specifically .by "power of .sale" or ~vertisement lind sale" foreclosure.as provided .by statute. Deflclency.Judgment. If permitted by .applicable Jaw, Lender may Dblain .a juL:!gment for liny lieficlency remainin,g in 1he Indebtedness Due to antler lifter .application :of .alllimounts received from 1he exercise :of 1he ri,ghts provided in 1his section. Tenancy .at Suffel1ll1ce. If Grantor remains In possession of the Property lifter 1he Property js sold .as :provided .above Dr .lender Dtherwise .becomes entitled 10 possession of 1he Property .upon æfault of Grantor, Grantor shall.become.a tenant lit sufferance of ander or the :p.urchaser of the Property lind shall, lit Lentler's option, ,either (1) pay li reasonable rental for the .use of 1he Property, Dr (2) v1lC8te the Property ~:··:1:~~'::¡:i:::::i:~ '4 j':~J:i:I~':1~~:~ :::! 091..6~· Loan No: 64003322 ;]9 :~~;mi~~~~~i~) MORTGAGE (Continued) " ¡;}i\f>::i:~¡?/,{v,:r~) , , 0 C 5 ':,:>':"¡¡',:'i"i"'Ti l.; .i '1"3"""'" Page 4 immediately lJpon the rlamand of .lender. other Remedies. .lender shall have BII other rights Bnd remedies provided In this Mortgage or the Note or Bvailable Bt law or in squity. Sale of the Property. To the extent permitted by Bpplicable law, Grantor hereby waives any Bnd BII right to have the Property marshalled. In sxerclsing its rights and remedies, .lender shall be iree to sell all or any part of the Property together or separately, in one sale or by separate sales. .lender shall be sntiUed to bid at any public sale on all or any portion of the Property. NotIce of Sale. .lender will give Grantor reasonable notice of the time Bnd place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at least ten (10) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with Bny sale of the Real Property. Eectlon of Remedies. All of Lender's rights Bnd remedies will be cumulative and may be exercised alone or together. An Blection by Lender to choose anyone remedy will not bar .lender irom .using any other remedy. If .lender Decides to spend money or to perform Bny .of Grantor's obligations .under this Mortgage, after Grantor's failure to DO so, that .decision by.lender will not Bffect .lender's right to rlaclare Grantor in Default and to exercise .lender's remedies. Attorneys' Fees; Expenses. If lender Institutes any suit or .action to enforce any of the terms of this Mortgage, .lender shall be sntitled to recover such sum .as the court may adjudge reasonable.as Bttorneys' fees Bt trial and lJpon Bny appeal. Whether or not any court .action is Involved, Bnd to the extent not prohibited by law, all reasonable expenses lender incurs that In .lender's opinion are necessary at Bny time for the protection of Its Interest or the enforcement Df its rights shall become a part of the Indebtedness payable on .demand and shall bear interest Bt the Note rate from the rlate of the expenditure .until repaid. Expenses cDvered by this paragraph Include, without limitation, hDwever subject to Bny Umits .under Bpplicable law, .lender's reasonable attorneys' fees and Lender's legal expenses whether Dr not there is a lawsuit, Including reasonable Bttorneys' fees after default and referral to an attorney not .lender's salaried employee and expenses for bankrlJptcy proceedings (including sfforts to modify or vacate any automatic stay or Injunction), appeals, Bnd Bny anticipated posl-judgment collection services, the cost Df 5earching records, obtaining tiUe repDrts (Including foreclosure reports), surveyors' reports, and Bppraisal tees and tiUe insurance, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to ail other sums provided by law. NOTICES. Any notice required to be given .under this Mortgage, including without limitation any notice of rlafault Bnd Bny notice of sale shall be ¡¡Iven In writing, and shall be effective when .actually .delivered, when .actually received by telefacsimile (unless .otherwise required by law), when .deposited with a nationally recognized overnight courier, or, if mailed, when Deposited in the United States mail, .as first class, certified or registered mail postage ,pmpaid, Directed to the addresses shown near the beginning of this Mortgage. All copies .of nDtices of foreclosure irom the holder of any lien which has priority over this Mortgage shall be sent ,to .lender's address, .as shown near the beginning of this Mortgage. Any person may change his or her .adDress for notices .under this Mortgage by giving formal written notice to the Dther person or persons, specifying that the purpose of the notice is to change the person's aDdress. For notice purposes, Grantor agrees to keep .lender Informed at all times of Grantor's current.address. Unless otherwise ,provided or required by law, if there is more than one Grantor, any notice given by .lender to any Grantor is Iieemed to be notice given to BII Grantors. It will be Grantor's responsibility to tell the others of the notice tram .lender. MISCE..LANEOUS PROVISIONS. 'The following miscellaneous provisions areB part of this Mortgage: Amendments. What is written in this Mortgage and in the Related Documents is Grantor's sntire agreement with .lender cDncernln~ the matters covered by this Mortgage. 'To be effective, any change or Bmendment to this Mortgage must be in writing Bnd must be signed by whoever will be bound or obligated by the change or Bmendment. Captlon HeadIngs. Caption f1eadings in this Mortgage Bre for cDnvenience purposes· .only and Bre not to be .used to Interpret or Define the pmvisions of this Mortgage. ßovernlng Law. 'ThIs Mortgage will be1Joverned by federal Jaw JlPpllcable to Lender .and, to the extent not preempted by fedeTBI Jaw, the Jaws of the State of Wyoming wltho.ut regard to Us confllcts of Jaw prov1slons. This Mortga~ hils been JlCCepted by Lender In the State of WyomIng. Choice .of Venue. If there is a lawsuit, Grantor Bgrees ..upon .lender's request to submit to the jurisdiction of the I:DUrts of Lincoln County, state of Wyoming. JoInt mid Several LIability. All DbligatiDns of Grantor .under this MDrtgage shall be joint and several, Bnd..all references to Grantor shall mean sach and svery Grantor. This means that sach Grantor signing below is respDnsible for ail obtigations in this Mortgage. No Waiver by Lender. Grantor .understands .lender will not give up Bny of .Lender's rights .under this Mortgage .unless Lender Does so in writing. The fact that Lender .deIays.or .omits to exercise any right will not mean that lender has given lJp that right. If .lender Does agree in writin~ to ¡¡ive ..up one of .lender's rights, that Does not mean Grantor will not have to comply with the other provisions of this Mortgage. Grantor also .understands that if .lender Does consent to a request, that Does not mean that Grantor will not have to get .lender's I:onsent Bgaln If the situation happens again. Grantor further .unDerstands that just because .lender consents to one Dr more Df Grantor's requests, that Does not mean .lender will be required to cDnsent to any of Grantor's Mure requests. Grantor waives presentment, Demand for ,payment, protest, and notice .of Dishonor. Grantor waives BII rights of exemption irom sxecution or similar law in the Property, Bnd Grantor agrees that the rights of .lender in the Property .under this Mortgage are prior to Grantor's rights while this Mortgage remains in effect. SeveTBbIllty. If a court finds that any prDvision of this Mortgage is not valkl Dr should not be snforced, that fact by itself will not mean that the rest of this Mortgage will not be valid or ¡¡nforced. 'TherefDre, a court will enforce the rest of the provisions of this MDrtgage sven If B provision of this Mortgage may be found to be invaliD Dr .unenforceable. Merger. There shall be no merger .of the interest or estateI:reated by this Mortgage with ..any other interest .or estate in the Property Bt Bny time held by or for the benefit of .lender In Bny capacity, without the written consent Df .lender. Successors mid Asslgns. Subject to ..any limitations stated in this Mortgage on transfer of Grantor's interest,thIs Mortgage shell be binding lJpDn and ioore to the benefit of the parties, their successors Bnd .assigns. If ownership of the Property becomes vested in a person other than Grantor, .lender, withDut notice to Grantor, may .deal with Grantor's successors with reference to this MDrtgage Bnd the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this MDrtgage or liability .under the Indebtedness. Time is of the .Essence. Time is of the essence In the performance of this Mortgage. Waiver of Homestead Exemption. Grantor hereby releases Bnd waives BII rights Bnd benefits of the homestead exemption Jaws of the State of Wyoming.as to BII IndebteDness sec.ured by this Mortgage. DEFJNITIONS. The following words shall heve the following meanings when llSed in this Mortgage: Borrower. The WDn:! 'Borrower" means TRAVIS DANA and HEIDI DANA and Includes all I:G-5igners and co-makers signing the Note..and all their successors Bnd assigns. ' EnvIronmental Laws. The wDrds 'Environmental.Laws" mean any and all state, "federal Bnd local statutes, mguJations and on:!inances relating to the protection of tuJman f1ealth Dr the envimnment, including wlthDut limitation the Comprehensive Environmental Response, CompensatiDn, Bnd l.iability Act of 19BO,ll$ Bmende.d, 42 U.s.C. Section 9601, st seq. ("CERCLAW), the Superfund Amendments :and ReauthDrization Act .of 1986, 'Pub. L No. 99-499 ("SARA"), the HazarDous Materiais Transportation Act, 49 U.S.C. Section 1B01, st seq., the Resource CDnservation Bnd Recovery Act, 42 U.S.C. Section £901, lit seq., Dr Dther Bppllcable state Dr tederal laws, mias, Dr regulations .adopted pursuant thereto. Event of Default. The words 'Event of Default" mean any of the svents of Default set fDrth in this Mortgage in the events of Default section of this Mortgage. ßrantor. The won:! "Grantor" means TRAVIS DANABnd HEIDI DANA. Guanmty. The word "Buaranty" means the guaranty irom guarantor, sndorser, surety, .or BCCommodation party to .lender, including without limitation a guaranty of BII or part of the Note. Hazardous Substances. The words "Hazan:!ous S.ubstances" mean materials that, because of their r¡uantity, concentration or physical, I:hemical .or infectiollS I:haracteristics, may.cause Dr pose.li present or potential hazarD to human health Dr 1he snvimnment when improperly .used, 1œated, stored, Disposed of, generatad, maoofactured, transported or .otherwise handled. The words "Hazardous S.ubstances" are .used in their very broadest sense and include without limitation any..and allhazan:!ous or toxic substances, materiais Dr waste lIS Defined by or listed .under the Environmental.Laws. The term "HazarDous Substances" also includes, without limitation, petroleum and petroleum by-products Dr Bny traction thereof and asbestos. , Jmprovements. The word "'Improvements" means ..all existing ..and future Jmprovements. buildings, structures, mobile hDmes ..affixed on 1he Real 091. 67J9 Loan No: 64003322 MORTGAGE (Continued) 000574 psge 5 Property. facilities, Bdditions, replacements .and other I:onstr.uclion on 1he Real Property. Jndebtedness. The worLl "IndebteLlness" means .all principal, Inteœst, .and other .amounts, t::DSts .and axpenses payable lInder 1he Note Dr Related Documents, 10gether with .all ænewals of. BXtenslons of, moLlifications of. .consolil:lations of .and substitutions 10r 1he Note Dr ReJateLI Documents .and .any .amounts axpendad Dr .advanced by Lender 10 .discharge Grantor's obligations or axpenses Incurrad by Lender 10 snfolDS Grantor's obligations 1Jnder 1his Mortgage, together with interest on SlJI:h amounts as provided in 1his Mortgage. .Lender. The word ~nder" means FIRST NATIONAL BANK- WEST, its .successors .and assigns. The words "successors Dr assigns" mean .any person or I:ompany 1hat .acquires .any Interest in 1he Note. Mortga~e. The worLl "Mortgage" means this Mortgage between GlBntor.and Lender. Note. The word "Note" means 1he promissory note .dated Man:h 15,.2006. in the 1)riginal principal, .amount 1)1 $22,300.00 1rom Grantor to Lender. 10gether with .all ænewals of, BXtenslons of, modifications of, æfinancings of. I:onsolil:lations of, .and substitutions 10r 1he promissory note Dr .agreement. The maturity .date of 1his Mortgage Is .July 1,2006. Personal Property. The words "Psrsonal Property" mean all ,equipment, 1ixtures. and other BrticJes of personal property now 1)r nereafter owned by GlBntor,.and now Dr heæafter Bttached Dr .affIXed to 1he Real Property; 10gether with BII.accessions, parts, Bnd Bdditions 1o,.a1l replacements of, .and all substitutions 1or, .any of such property; .and together with.all proceeds (including without limitation.all iosulBnce proœeds.and refunds of premiums) from Bny sale Dr other disposition of 1he Property. Property. The worLl "Property" means .colJectively 1he Real Property Bnd 1he Personal Property. Real Property. The worL!s "Real Property" mean 1he real property. Inteæsts Bnd rights, as 1urther .described in ihis Mortga~e. Related DOI:IJIJIents. The words "Related Documents" mean .all promissory notes, I:lBdft Bgœements, loan .agœements. snvironmental .agreements, guar.anties, security .agœements, mortgages, .deeds of 1wst, security LIeeds, I:ollatelBl mortgages, .and .all other Jns1r:Umøn1s, .agreements Bnd documents, whether now or hereafter sxisting, BXSCUte.d in .connection with the IndebteLlness. Rents. The worLl "Rents" means .all present .and 1uture rents. reveruJSS, Income, issues, royalties, profits,.and other benefits J:lerive.d from 1he Property. £ACH GRANTOR ACKNOWlEDGES iiAVJNG READ AU. THE PROVISIONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES ,.0 ITS TERMS. GRANTOR: x~~~ TRAVJSDANA x~ HEIDI DANA ' JNDJVJDUAL ACKNOWLEDGMENT STAlE OF Wi /5/n/íLJ l:OUNTY DF J./ '/7f' 0 I /L.-- . ) )SS ) ROXIE JENKINS Notary Public ! County of State of lincoln Wyoming My CommIssion Expires April 4, 2006 ~ Dn 1his:day :before me, 1he lIndersigned Notary PlIblic, personally sppeaæd 'TRAVIS DANA.uf HEIDI DANA,lo me known 1o:be 1he individuals described In.and who sxecuied 1he Mortgage, .and .acknowledged ihat they signed 1he Mortgage as 1heir ires Bnd voluntary Bct Bnd deed, 10r 1he lISSS .and .plJrposes 1helBin mentioned. -+h Given er my hand d 1)fflcJal.seai this I ~ \¿..-' , nay.. >n¡;>~ ::"J'~. _ . Resldln~.a~~~ ~~C/ .My .commission expIres ~I r;/2-0ð L ../ .LAaER ftROJ........g. \¡I.....s.J.O.10'OD1.copr. ....rJad. finaACial-SoWliaDa, Jnc. lM7,..a006. AU fUQhta ....rvad. _ WY .D:1LAS.EflflRO\FN.ILŒlU.PUG.U.F.c ìA-l3.18 r;:::;:N%~¡;imn¡H1J I¡,,:¡:.~~j::¡¡+.';,:~ílf e:.~'..j~!"'".,,,,:.J.~..~ ~I~ii~mmr