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HomeMy WebLinkAbout918520 ~ . l." _.; 000433 ø .. 31400 (01) r:t RECEIVED 3/1B12006 at 10:07 AM RECEIVING #918520 BOOK: 620 PAGE: 433 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY State of Wyoming Space Above This JJne For Recording Data REAL ESTATE MORTGAGE (With Future Advance Clause) 1. DATE AND PARTJES. The date of !his Mortgage.is D5·15.2DD6 Bre BS iollows: Bnd !he parties Bnd !heir Bddœsses MORTGAGOR: tlRClf K,ill, A WYDMINGlIMlT£DlIABll1TY tDMPANY, A WYDMINGlIMlT£DlIABlllTY I:DMPANY 1'DBDX2576 cJAI:KSDN. WY B3D01 TI Refer "to !he Addendum which is Bttached Bnd incorporated herein ior Bdditional Mortgagors. LENDER: BANK DF ..JACKSDN tlDŒ DHGANIZED AND EXISTING lINnfRTtlHAWS DFTtIE ST AlIDF WYDMING EgO W.BRDADWAY P.D.BDX7ÒOO ..JAI:KSDN. WY B30D2 2. MORTGAGE. For !lood Bnd vBluBble :considerBtion, "the r-eceiptBnd sufficiency of which is acknowledged. .and 1:0 se:cure "the 5ecuœd Debt (hereafter defined), Mortgagor grBnts, barflains, :conveys, mortgages Bnd warrants 1:0 .Lender, with !he power of sale, !he iollowinfl described property: lDT 11 DF AlPINE MEADDWSB1JBDIVISIDN,lINCDLNtDUNTY. WYDMING, ACI:DRDINGTDìtlAT PlAT FJŒD AUGUST 23,2005 INìtIE DFFICE DFTtlElINCDLN I:DUNTY tLERK AS PlAT 1II0.206.A / ") 1 \ Ihe property is Jocated in llNCDlN Bt lDT 11 AlPINE MEADOWS (County) (AddrilSS) (City) !Zip .code} logether with .all rights. -eBsements, appurtenances. rOYBlties, minerBI rifl hts , oil.and !lBS rights, :crops, 1:imber, BII Diversion payments or third party payments made 1:0 :crop producers, .and BII -existing Bnd iuture improvements, structures. iixtures, .and replacements !hat may now, Dr Bt .any time in !he iuture, be pBrt of !he real-estate Described .above jail referred 1:0 BS "Property").lhe 1erm Property Blso includes, but is not limited 1:0, Bny Bnd BII wBter wells, wBter. .ditches, reservoirs, reservoir sites Bnd Dams located on !he real-estate .and.all riparian Bnd water rights ilSSociated with !he Property, however -established. . ALPINE , Wyoming 113128 WYDUONG--=WRAUcoM__ESTA"Œ=uR"" "..",""'" ..,.,.,,,,,"'""''''... ..~. =--__' ~ ©1553,.2001 Bank.". Systems. Inc., St. CIDud, MN f'DrmAGCO:RESI-WY 1/16l2oo3 é!..fC-. (page 1 Df B) ;:~:i::::!::t::::;fø ,¡.·R·~~;:;:) ~ (91)i~5~JO "'. : ..\ ,'''' I ,. f!I 000434 a. MAXIMUM OBUGATTON UMIT. The' total principal amount of the' Secured Debt (hereafter defined) secured by this- Mortgage' at anyone' time' shall not exceed $ la.OOIT.OIT . This limitation of amount does- not include'interest, loan charges-, commitment fees, brokerage' commissions, attorneys' fees and other charges validly made'- pursuant to- this Mortgage' and does not apply to- advances (or interest accrued on such advances) made' under the' terms- of this Mortgage' to protect Lender's security and to perform any of the' covenants contained in this Mortgage'. Futum advances are' contemplated and, along with other futUre obligations, are' secured by this Mortgage' even though all or part may not yet be' advanced. Nothing in this Mortgage', however, shall constitute'- a commitment to make' additional or future' loans or advances- in any amount. Any such commitment would need to be' agreed to- in a separate'- writing. 4-. SECURED DEBT DEFINED. The'term "Secured Debt" includes, but is not limited to, the' following: A. The' promissory note(s), contract(s), guararrty(ies) or other evidence' of debt described below and all extensions, renewals, modificatiollS or substitutions. (Whe" referencing the' debt~ below it i~ suggested that you irrclude'- item~ such a~ borrowers' name~ and addresses, noœ pri"cipal amounts, commercial revolving loan agreement'~ maximum amourrt, interest raœ~, variable' rate' terms, maturity daœ~, ew.J PROMISSORY NOTEOATEIT O!f-l!i-lOOI1I1HHE AMOUNTOF$2Ir,OITIJ.OIJ IN THENAMEOFRONALIT AND: (;AROL KAMINSKI B. All future advances from Lender to Mortgagor or other future' obligations of Mortgagor to- Lender under any promissory note, contract, guaranty, or other evidence' of debt existing now or executed after this Mortgage' whether or not this Mortgage' is specifically referred to- in the' evidence' of dehl. C. All obligations Mortgagor owes- to- Lender, which now exist or may later arise', to- the' extent not prohibited by law, including, but not limited to-, liabilities- for overdrafts relating to any deposit account agreement betweerr Mortgagor and Lender. D. All additional sums- advanced and expenses incllrred by Lender for insuring, preserving or otherwise' protecting the' Property and its value' and any other sÍJms advanced and expenses incurred by Lender under the terms of this- Mortgage, plus interest at the highest rate in effect, from time to time, as provided in the Evidence' of Debt. E. Mortgagor's· performance' under the' terms of any instrument evidencing a dehl by Mortgagor to- Lender and any Mortgage' securing, guarantying, or otherwise' relating to the'- debt. If more than one person signs this Mortgage as Mortgagor, each Mortgagor agrees that this- Mortgage will secum all future advances and futum obligations described above' that are' given to or incurred by anyone' or more' Mortgagor, or anyone' or more Mortgagor and others. This Mortgage' will not secure' any other debt if Lender fails, with respect to- such other debt, to make' any required disclosum about this- Mortgage' or if Lender fails to give' any required notice' of the' right of rescissiorr. cr. PAYMENTS. Mortgagor agrees to make' all payments on- the' Secured Debt when- due' and in accordance with the'- terms of the' Evidence of Dehl or this Mortgage'. 6. CLAIMS AGAINST TITlE Mortgagor will pay all taxes, assessments, liens, encumbrances, lease' payments, ground rents, utilities, and other charges relating to the' Property when- due. Lender may require Mortgagor to- provide'to- Lender copies of all notices that such amounts are' due' and the' receipts evidencing Mortgagor's payment. Mortgagor will defend title' to- the Property against any claims that would impair the' lien- of this Mortgage. Mortgagor agrees to assign- ta Lender, as requested by Lender, any rights, claims or defenses which Mortgagor may have' against parties who supply labor or materials to improve' or maintain- the Property. T. PRIOFf SECURITY INTERESTS. With regard to any other mortgage', deed of trust, security agreement or other lierr document that created a prior security interest or enç:umbrance' on the' Property and that may have' priority over this- Mortgage', Mortgagor agrees: A. To make all payments- when- due' and to perform or comply with all covenants. a. To promptly deliver to Lender any notices that Mortgagor receives from the' holder. C. Not to make' or permit any modification- or extension- of, and not to request or accept any future' advances under any note'- or agreement secured by, the' other mortgage, deed of trust or security agreement unless Lender consents in- writing. 8". DUE ON SALE Off ENCUMBRANCE. Lender may, at its option-, declare' the' entire' balan-ce' of the' Secured Debt to be' immediately due' and payable' upon- the' creation- of any lien-, en-cumbrance, transfer, or sale', or contract for any of these'- on- the' Property. However, if the' Froperty in-cludes Mortgagor's residence', this section- shall be' subject ta the restrictions imposed by federal law (lZ C.F.R. !J~n), as- applicable'. For the' purposes of this section-, the. term "Property" also includes any interest to all or any part of the'- Property. This covenant shall run- with the' Froperty and shall remain- irr effect until the' Secured Deb.t is paid in- full and this Mortgage' is released. ~ ©1993, 2001 Bankers-Sy~,lnc., St. Cloud. MN FãmrAGCO-RESI-WY 1/16/2003 C~~ (pagfl' Z of 8) {imm~m~!!m@ · : ~- :- C00435 p J-:.1j' tj ~c-. (b -'~_II,.(.::J")~ 1 :9. TRANSFER DF AN INTEREST IN THE MDRTGAGOR. If Mortgagor is an -entity other -than a natural person (such as a x:orporation or other organization), .lender may rlemand immediate payment if (1) a beneficial interest in Mortgagor is sold Dr transferred; (2) there is a I:hange in either the identity or number of members of a partnership Dr similar entity; Dr (3) there is a x:hange in ownership of more -than 25 percent of the voting stock of a x:orporation or similar entity. -However, Lender may not rlemand payment in the .above situations if it is prohibited by law .as of the rlate of this Mortgage. 10..ENTITY WARRANTIES AND REPRESENTATIONS. If Mortgagor is an entity other than a natural person (such as a ~x:orpor.atìdn or other organization), Mortgagor makes 10 Lender the following warranties .and representations which shall be x:ontinuing as long as -the Secured Debt remains outstanding: A. Mortgagor is an entity which is duly organized and validly -existing in the Mortgagor's state of incorporation (or organization). Mortgagor is in good standing in all states in which Mortgagor :transacts business. Mortgagor has the power and authority to own the Property and to .carryon its business as now being x:onducted ilnd, ilS ilpplicable, is r¡ualified to do so in each state in whix:h Mortgagor operates. B. ¡he -execution, rlelivery Bnd performance of this Mortgage by Mortgagor Bnd -the obligation evidenced by the Evidence of Debt .are within the power of Mortgagor, have been duly .authorized, have received all necessary governmental Bpproval, Bnd will not violate .any provision of Jaw, Dr order of I:ourt or governmental Bgency. C. Dther than rlisx:losed in writing Mortgagor has not x:hanged its name within -the last ten years Bnd has not used .any other :tr.ade or fictitious name. Without Lender's prior written consent, Mortgagor rloes not and will not use .any other name .and will preserve its -existing name, trede names .and frBnchises until the Secured Debt is satisfied. 11. PROPERTY CDNDITIDN, AlTERATIDNS AND JNSPECTJDN. Mortgagor will keep -the Property in good condition ilnd make ..all repairs that ..are reasoruilily necessary. Mortgagor will give Lender prompt notice ofBny loss Dr rlamage 10 -the Property. Mortgagor will keep the Property free of noxious weeds .and grBsses. Mortgagor will not initiate, join in Dr .consent to Bnyx:hangein .any private restrictive I:ovenant, 20ning ordinance or other public or private restriction limiting Dr rlefining the uses which may be made of the Property orBny part of -the Property, without Lender's prior written .consent. Mortgagor will notify Lender of illI demands, proceedings, x:Jaims, Bnd Bctions .against Mortgagor or ilny other owner made under law or regulation regarding use, ownership and occupancy of the Property. Mortgagor will .comply with .all legal rer¡uir-ements and restrictions, whether public or private, with respect to -the use of the Property. Mortgagor ..also Bgrees that -the nature of the ox:cupancy and use will not I:hange without Lender's prior written x:onsent. No portion of -the Property will be removed, rlemolished 'or materially .altered without Lender's prior written consent -except that Mortgagor has the right to remove items of personal property .comprising a part of -the Property -that .become worn or Dhsolete, prov.ided that such personal property is replax:ed with other personal property :at least -er¡ual in vBlue to 1:he replaced personal property, free from :any title r-etention rlevice, sex:urity agreement or other -encumbrence. Such replacement of personal property wil.1 be rleemed subject 10 the security interest x:r-eated by this Mortgage. Mortgagor shall not partition or subdivide the Property without Lender's prior written consent. L-ender Dr L-ender's .agents may, ilt L-ender's option, enter the Property .at any reasonable time for the purpose of inspecting -the Property. Any inspection of :the Property shall be -entirely for L-ender's benefit .and Mortgagor will in no way rely on Lender's inspection. 12. AUTHORITY TD PERFDRM. If Mortgagor fails to perform :any of Mortgagor's rluties under :this Mortgage, Dr ilny other mortgage, deed of :trust, security agr-eement Dr other lien document -that has priority over this Mortgage, Lender may, without notice, perform the duties or .cause them to be performed. Mortgagor Bppoints Lender ..as ..attorney in fact 10 sign Mortgagor's name or pay .any .amount necessary for performance. If .any x:onstruction on -the Property is rlisx:ontinued or not .carried on in..a reasonable manner, Lender may rlo whatever is necessary to protect Lender's sex:urity interest in-the Property. This may include .completing the I:onstruction. .l-ender's right to perform for Mortgagor shall not .create iln obligation 10 perform, .and Lender's failur-e 10 perform will not preclude Lender from -exer.cising .any of Lender's other rights under -the Jaw Dr this Mortgage. Any ..amounts paid by Ümderfor insuring, preserving Dr otherwise protecting the Property :and Lender's security interest will be rlue on demand :and will bear interest irom the rlate of the payment until paid in full ilt the inter£!st rnte in £!ffe.ct from time to 1:ime ..according to the terms of the Evidence of Debt. 13.ASSIGNMENT DF LEASES AND RENTS. Mortgagor assigns, flr.ants,.barflains, I:onveys, mortgafles :and Wammts 10 Lender :as :additional security .all-the right, title :and inter-est in the followinfl (Property). A. Existing Dr future Jeases, subleases, licenses, fluaranties .and any other written Dr verbal ilgreements for -the use ..and oc.cupancy of 1:he Property, including but not limited to, any -extensions, r£!new.als, modifi.cations Dr replacements (Leases). £. -Rents, issues .and profits, including but not limited to, security rleposits, minimum rents, percentage r-ents, additional rents, .common ..area maintenance I:harfleS, parking .charges, real -estate taxes, other :applicable taX£!S, insunmce pr-emium I:ontributions, lir¡uidated rlamages followinfl rlefault, I:anx:£!II:ation premiums, "loss of r£!nts" insuranc£!, fluest receipts, r£!v£!oues, royalties, proceeds, bonuses, ilccounts, .contrBct rights, flenefill intangibles, .and .all rights .and daims which Mortgagor may hav£! -that in .any way pertain 10 or .ar£! on account of the use Dr occupancy of the whole Dr ilny part of 1:he Property (Rents). Jn the -event Bny item Jisted .as Leases or Rents is rletermined 1:0 be personal property, this Assignment will.also be regarrled.as Bsecurity .agr-eement." ~ © 1593. .2001 Bankers Svsterm, Ine.. St. Cloud. MN FDrmAGCO-RESI-WY 1/1612003 LL* (page 3 Df BJ I .... . I f*.¡'.,~ ti~if"I!il.lif.f. I,', UN!~~:~:·~ :~~': 41 r' f"\ Q 41. 6 ...~ ,} -, Mo~1YJm~~y provide. Lender with copies qf the. Leases and will certify these. Leases are. true. and correct copies. rhe. e.xisting Leases will be. provided on execution of the. Assignment, and all of the. future. Leases and any other information with respect to these. Leases will be. provided immediately after they are executed. Mortgagor may collect, receive., enjoy and use. the. Rents so long as Mortgagor is not in default. Mortgagor will not collect in advance. any Rents due. in future lease. periods, unless Mortgagor first obtains Lender's written consent. Upon default, Mortgagor will receive. any Rents in trust for Lender and Mortgagor will ncrt commingle. the. Rents with any other funds. When Lender so directs, Mortgagor will endorse. and deliver any payments of Rents from the. Property to Lender. Amounts collected will be. applied at Lender's discretion to the. Secured Debts, the costs of managing, protecting and preserving the. Property, and other necessary expenses. Mortgagor agrees that this Security Instrument is immediately effective. between Mortgagor and Lender. This Security Instrument will remain effective. during any statutory redemption period until the. Secured Debts are satisfied. Unless otherwise. prohibited or prescribed by state. law, Mortgagor agrees that Lender may take. actual possession of the. Property without the. necessity of commencing any legal action or proceeding. Mortgagor agrees that actual possession of the. Property is deemed to occur when Lender notifies Mortgagor of Mortgagor's default and demands that Mortgagor and Mortgagor's tenants pay all Rents due. or to become. due. directly to Lender. Immediately after Lender gives Mortgagor the notice. of default, Mortgagor agrees that either Lender or Mortgagor may immediately notify the. tenants and demand that all future Rents be. paid directly to Lender. As long as this Assignment is in effec4 Mortgagor warrants and represents that no default exists under the. Leases, and the. parties subject to the. Leases have. not violated any applicable. law on leases, licenses and landlords and tenants. Mortgagor, at its sole. cost and expense, will keep, observe and perform, and require. all other parties to the. Leases to comply with the. Leases and any applicable law. If Mortgagor or any party to the. Lease. defaults or fails to observe. any applicable. law, Mortgagor will promptly notify Lender. If Mortgagor neglects or refuses to enforce. compliance. with the. terms of the. Leases, then Lender may, at Lender's option, enforce. compliance. Mortgagor will not sublet, modify, extend, cancel, or otherwise alter the. Leases, or accept the. surrender of the Property covered by the. Leases (unless the. Leases so require) without Lender's consent. Mortgagor will not assign, compromise., subordinare or encumber the. Leases and Rents without Lender's prior written consent. Lender does not assume. or become. liable. for the. Property's maintenance., depreciation, or other losses or damages when Lender acts to manage., protect or preserve. the. Property, except for losses and damages due. to Lender's gross negligence. or intentional torts. Otherwise., Mortgagor will indemnify Lender and hold Lender harmless for all liability, loss or damage. that Lender may incur when Lender opts to exercise. any of its remedies against any party obligated under the. Leases. T4. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the. Property includes a unit in a condominium or a planned unit development, Mortgagor will perform all of Mortgagor's duties: under the covenants, by-laws, or regulations of the condominium or planned unit development. T!T. DEFAULT.: Mortgagor will be. in default if any of the. following occur: A. Any party obligated on the Secured Debt fails to make. payment when due; II. A breach of any term or covenant in this Mortgage, any prior mortgage. or any construction loan agreement, security agreement or any other document evidencing, guarantying, securing or otherwise. relating to the. Secured Debt; C. The. making or furnishing of any verbal or written representation, statement or warranty to Lender that is false or incorrect in any material respect by Mortgagor or any person or entity obligated on the Secured Debt; D. The. death, dissolution, or insolvency of, appointment ot a receiver for, or application of any debtor relief law to, Mortgagor or any person or entity obligated on the Secured Debt; E A good faith belief by Lender at any time that Lender is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment is impaired or the value of the Property is impaired; F. A material adverse. change in Mortgagor's business including ownership, management, and financial conditions, which Lender in its opinion believes impairs the value of the Property or repayment ot the. Secured Debt; or G. Any loan proceeds are. used for a purpose that will contribute. to excessive. erosion of highly erodible. land or to the. conversion of wetlands to produce. an agricultural commodity, as further explained in T C.F.R. Part 1940, Subpart G, ExhibitM. TEr. REMEDIES ON DEFAULT. In some instances, federal and stare law will require Lender to provide Mortgagor with notice of the right to cure, mediation notices or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Mortgage in a manner provided by law if this Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving: notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall be. entitled to all the remedies provided by law, the Evidence of Debt, other evidences: of debt, this: Mortgage. and any related documents including without limitation, the power to sell the. Property. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether expressly set forth or not. The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the. balance is due. or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising any remedy orr Mortgagor's: d"'aule Lende, does not walvelendee. right to late, =mdde, the event a default I~e. 0' happen. .galn. (fJ8ge 4- af 8) G.~ lID 1993'. 2001 Banker.. Systems-, Inc., St. Cloud. MN Form AGCO-RESI-WY 1/16/2003 ê..-~ ~~;~liru~!!~i~;mt~;~ij ::;¡:;:::~~::~::::~:i ~~t!~~; ¥. 091)::5520 f"\ , .f) 1'\4 r- 7 \.' ,} U .1' 17.EXPENSES; ADVANCES DN COVENANTS; ATTDRNEYS' FEES; COllECTION COSTS. Except when prohibited by law, Mortgagor Bgrees 1:0 pay all of .lender'$ expenses if Mortgagor breaches Bny covenant in 1:his Mortgage. Mortgagor will Blso pay on demand BII of Lender's expenses incurred in collecting, insuring, preserving or protecting 1:he Property or in Bny inventories, Budits, inspections or other examination by.Lender in respect to the Property. Mortgagor Bgœes 1:0 pay BII costs Bnd expenses incurred by Lender in enforcing or protecting Lender's rights Bnd remedies under "this Mortgage, including,but not limited 1:0, .attorneys' fees, court costs, .and other legalexpensès. Once 1:he Secured Debt js fully Bnd iinally paid, Lender agrees to release this Mortgage .and Mortgagor .agrees to pay for any. recordation costs. All $uch Bmounts Bre due on demand Bnd will bear interest from "th~ time of "the Bdvance .at 1:he highest r.ate in effect, from 1:ime 1:0 time, BS provided in 1:he Evidence of Debt and as permitted by law. 1B.ENVJRONMENTALLAWS AND HAZARDOUS SUBSTANCES. As J.JSed in 1his section, (1) "Environmental Law" means, without limitation, 1he Comprehensive Environmental Response, Compensation Bnd .liability Act (CERClA,42 U.S.C. 9601 et seq.1, .all other federal, $tate .and local laws, regulations, ordinances, court orders, attorney general opinions Dr interpretive letters concerning 1he public health, $afety, welfare, environment or a hazardous .substance; .and (2) "Hazardous Substance" means .any loxic, radioactive or hazardous material. waste, pollutant Dr contaminant which has characteristics which render 1he substance rlangerous or potentially rlangerous to 1he public health, safety, welfare Dr --environment. The term includes, without limitation, .any substances defined.as "hazarrlous material," "toxic substances, " "hazardous waste" or "hazardous substance" under .any Environmental.Law, Mortgagor represents, warrants Bnd Bgrees "that, except.as previoJ.JSlydisclosed Bnd Bcknowledged in writing: A. No Hazardous Substance has been, is, Dr will be located, 1ransported, manufactured, 1reated, refined, or handled by .any person on, under Dr .about the Property, except in 1he orrlinary course of business Bnd in .strict compliance with BII applicable Environmental.Law. E. Mortgagor has not Bnd will not cause, contribute 1:0, or permit "the release of Bny Hazardous Substance on "the Property. ... C. Mortgagor will immediately notify Lender if (1) .a release or1:hreatened release of Hazarrlous Substance occurs on, under or Bbout 1:he Property Dr migrates or threatenS' to migrate from nearby property; Dr (2) 1here is .a vjolation of Bny EnvÎronmental .Law concerning the Property. In such .an event, Mortgagor will1ake .all necessary remedial .action in Bccordance with Environmental Law. D. Mortgagor has no knowledge of or reason 10 believe 1here is .any pending or 1hreatened investigation, claim, or proceeding of Bny kind relating 10 (1) Bny Hazardous Substance located on, under or Bbout 1he Property; Dr (2) .any violation by Mortgagor or .any tenant of .any Environmental.law. Mortgagor will immediately notify Lender in writing.as soon.as Mortgagor has reason to believe 1here js .any such pending Dr 1hreatened investigation, claim, or proceerling. In such .an event, .Lender has "the right, but not "the obligation, to participate in Bny .such proceeding jncluding the right to receive copies of any rlocuments relating 10 such proceedings. £. Mortgagor .and -every 1enant have been, .are .and shall remain in full compliance with .any .applicable Environmental .law, f. ¡here .are no underground storage 1anks, private rlumps Dr open wells located on or under 1he Property and no .such 1ank, dump or well will be .added unless L-ender first consents in writing, G. Mortgagor will regularly inspect 1:he Property, monitor "the .activities .and operations on 1:he Property, .and confirm 1:hat BII permits, licenses or .approvals required by Bny Bpplicable Environmental.law .are obtained .and complied with. H. Mortgagor will permit, or .cause .any 1:enant 10 permit, Lender or .l-ender's agent 10 -enter and inspect 1he Property Bnd review .all records ::at .any reasonable 1ime 10 .determine (1) 1he -existence, location :and nature of Bny Hazardous Substance on, under Dr Bbout"the Property; (2) "the -existence, locmion, nature, Bnd magnitude of Bny Hazardous Substance 1:hat has been released on, under Dr .about 1:he Property; Dr (3) whether or not Mortgagor :and.any 1:enant .are in compliance with .applicable Environmental Law . I. Upon .Lender's request ::and .at :any 1ime, Mortgagor agrees, :at Mortgagor's -expense; 10 -engage :a qualified -environmental engineer 1:0 prepare.an -environmental Budit of 1:he Property :and 10 submit 1:he results of such .audit 1:0 Lender. ¡he choice of 1:he environmental-engineer who will perform such .audit is subject 10 Lender's :approv.al. J, Lender has 1he right, but not 1he obligation, 1:0 perform any of Mortgagor's obligations under "this section :at Mortgagor's -expense. K. As a consequence of any breach of :any representation, warr.anty or promise made in 1his section, (1) Mortgagor will indemnify :and hold Lender .and L-ender's successors or :assigns harmless irom .and :against all losses, claims, .demands, liabilities, rlamages, cleanup, response and remediation costs, penalties .and -expenses,including without limitation :all costs of litigation :and .attorneys' fees, which Lender and .Lender's Successors or :assigns may sustain; :and (2) :at Lender's discretion, Lender may release 1his Mortgage :and in return Mortgagor will provide .lender with collateral of .at least -equal v.alue to 1:he Property .secured by 1:his Mortgage without prejudice 10 .any of Lender's rights under1his Mortgage. L Notwithstanding :any of "the language contained in 1his Mortgage 10 "the contrBry, 1:he 1:erms of 1:his section shall survive :any foreclosure Dr satisfaction of 1his Mortgage regardless of :any passage of 1:itle 10 .Lender Dr :any ..disposition by Lender of :any or .all of 1:he Property. Any claims :and rlefenses 1:0 1he contrary :are hereby waived. 19. CONDEMNATJON. Mortgagor will give .Lender prompt notice of Bny :action, real or 1hreatened, by private or public -entities to purchase or 1ake :any Dr .all of 1he Property, including :any -e:asements, "through condemnation, -eminent .domain, Dr :any other means. Mortgagor iurther .agrees 10 notify Lender of :any proceedings instituted for 1he establishment .of :any .sewer, w:ater, conserv.ation, ditch, rlrainage, or other rlistrict relating 10 Dr binding upon "the Property or :any part of it, Mortgagor :authorizes Lender 10 intervene in Mortgagor's name jn :any of 1he .above .described Bctions Dr claims .and 10 collect :and receive :all sums resulting irom the .action or claim , Mortgagor .:assigns 10 L-ender 1he proceeds of :any :awarrl or claim for rlamages connected with B condemnation Dr other1:aking of:all or Bny part of "the Property. Such proceeds shall be consideœd payments :and will be :applied .as provided in "this Mortgage. ¡his :assignment of proceeds is subject 10 "the terms of .any prior mortgage,' rleed Of.trust. soc",;ty ßg~ee""'nt 0< Dthe, I;"n rlocumen~t. . . (page :5 Df B) ~ ©1993, 2001 Bank<orsSystems, Inc., St. Cloud. MN formAGCO-RESI-WY 1/16l2003 c,J<. .~.( f)/q1 SS20 r [1 n 4 r; 8 za.INS(¡f(AÑck· Mortgagor agree~ to maintairr insurance as follows: v ;) \,. . , A. Mortgagor shall keep- the Property insured against los~ by fire, theft and other hazard~ and risks. reasonably associated with the Property due to its type and locatiorr. Other hazards and risks may include, for example, coverage against loss: due to floods: or flooding. This insurance shall be-maintained irr the amourrts arrd for the- periods: that Lerrder requires. What Lerrder requires pursuant to the preceding two sentences can change- during the term of the Secured Debt. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to Lender's approval, which shall not be- unreasonably withheld. If Mortgagor fails to maintairr the coverage- descrihed a hove, Lender may, at Lender's option, obtain coverage- to protect Lender's: rights: in the Property according to the terms: of this Mortgage-. All insurance policies: and renewals: shall he acceptable to Lender and shall include a standard "mortgage clause-" and, where applicable, "lender los~ payee- clause." Mortgagor shall immediately notify Lender of cancellation or termination of the- insurance. Lender shall have the right to hold the policie~ and rene-wals. If Lende-r require~, Mortgagor shall immediately give to Lender all receipts: of paid premium~ and rene-wal notices:. Upon loss, Mortgagor shall give immediate notice to the insurance- carrier and Lender. Lender may make proof of loss: if not made immediately hy Mortgagor. Unless Lender and Mortgagor otherwise agree in writing, insurance proceeds: shall he- applied to restoration- or repair of the Property damaged if the restoration or repair is economically feasihle- and Lender's security is: not lessened. If the- restoration- or repair is: not economically feasihle or Lender's security would he- lessened, the-- insurance proceeds shall be- applied to the- Secured Debt, whether or not therr due, with any excess paid to Mortgagor. If Mortgagor ahandons the Property, or does not answer within 30 days a notice from Lender that the- insurance- carrier has offered to settle- a claim, then- Lender may collect the insurance- proceeds:. Lender may use- the- proceeds: to repair or restore the- Property or to pay the- Secured Deht whether or not then- due-. The- 30-day period will hegin- when- the notice- is: given. Unless: Lender and Mortgagor otherwise agree- in- writing, any application of proceeds: to principal shall not e-xtend or postpone- the- due date of scheduled paymerrts or change- the amount of the payments:. If the Property i~ acquired hy Lender, Mortgagor's right to any insurance policies: and proceeds: resulting from damage to the- Property ~efore- the- acquisition- shall pass: to Lender to the- extent of the Secured Debt immediately hefore the- acquisitiorr. Ef. Mortgagor agree~ to maintain comprehensive general liahility insurance- naming Lender as an additional insured in- an- amount acceptahle- to Lender, insuring against claims arising from any accident or occurrence- in or on- the- Property. C. Mortgagor agrees: to maintain rental loss: or business: interruption insurance, a~ required by Lender, in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing), under a form of policy acceptablee to Lender. 2.1. NQ ESCROW FOR TAXES AND INSURANCE. Unless otherwise- provided in a separate agreement, Mortgagor will not he- required to pay to Lender funds: for taxes: and insurance- in escrow. :zz. FINANCIAL REPORTS AND ADDmONAL DOCUMENTS. Mortgagor will provide- to Lender upon- request, any financial statement or information Lender may deem necessary. Mortgagor warrants: that all financial statements and information- Mortgagor provides: to Lender are, or will bee, accurare, correc4 and completee. Mortgagor agree~ to sign, deliver, and filee as: Lender may reasonably request any additional documents: or certifications that Lender may consider necessary to perfect, continue, and preservee Mortgagor's obligations: under this Mortgage and Lender's lien- status: on- the P"roperty. If Mortgagor fails to do sa, Lender may sigrr, deliver, and filee such documerrts or certificates: in Mortgagor's name- and Mortgagor hereby irrevocably appoirrts Lender or Lender's agent a~ attorney in fact to do thee things- necessary to comply with thi~ section. 23. JOINT AND INDIVIDUAL UABIUTY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Mortgage- are joint and individual. If Mortgagor sigrrs this: Mortgaga but does not sign- the- Evidenca of Debt, Mortgagor does so only to mortgagee Mortgagor's: interest in thee P"roperty to securee payment of thee Secured Debt and Mortgagor doe~ not agree- to be- personally liablee on the- Secured Debt. Mortgagor agrees that Lender and any party to this: Mortgagee may extend, modify or makee any change- in thee terms of this Mortgage- or the Evidencee of Debt without Mortgagor's consent. Such a changee will not release- Mortgagor from the- terms of this Mortgage. The- duties: and benetits: of this: Mortgage- shall hind and benefit the successors: and assigrr~ of Mortgagor and Lender. If this: Mortgage- ~ecures: a guaranty hetween- Lender and Mortgagor and doe~ not directly ~ecure- thee obligation which is: guarantied, Mortgagor agree~ to waivee any rights: that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under thee obligation including, but not limited to, anti-deficiency or one-action laws. ~ © 199:1. 2001 Bankers-Systems. Inc.. St. Cloud; MN Form- AGCO-RESI-WY 1/16/200:1 £tL~ (pa{Je' 6 of 8) ;:::::::::;:::;;::;:::;~: ~8;;~:~:::;~lliÈf n..."".:1~ '-Jt::""»O t(.1<--.J ....~Q.....]~ ., '.,; , , r··('\ r4 r', 9 "'f" !,.\ \.' .1 :'" II. " 24. APPLICABŒ LAW; SEVERABILITY; JN1ERPRETATION. This Mortgage is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where !he Property .is located. Ihis Mortgage is complete and fully integrated. ìhis Mortgage may not be amended Dr modified by mal agreement. Any section Dr clause in !his Mortgage, lIttilchments, Dr lIny lIgreement related to 1he Secured Debt that l:onflicts with lIpplicable law will not be effective, lJnless that law expressly or impliedly permits the variations by written lIgreement. If ilny section or clause of this Mortgage cannot be enforced ilccording to its terms, that section Dr clause will be seveœd and will not lIffect the enforceability of the remainder of !his Mortgage. Whenever .used, the singular shall include the plural and the plurill the singular. The captions and headings of !he sections of this Mortgage .are for convenience only ilnd ilre not to be used to interpret Dr .define 1he terms of this Mortgage. lime is of !he -essence in this Mortgage. 25. NOTICE. Unless otherwise required by law, 1Iny notice shall be given by .delivering it or by mailing it by first class TTUlilto 1:he .appropriate party's .address on page 1 of this Mortgage, Dr 10 lIny other .address .designated in writing. Notice to one mortgagor will be .deemed 10 be notice 10 .all mortgagors. :" ..... .. . - '-' . 26. WAIvERs. Except 10 1:he extent prohibited by law, Mortgagor waives.any ríght regarding 1he mhrstuiliing of liens ~nd lIssets ilnd illI homestead exemption rights relating 10 1he Property. . 27.U.C.C. PROVJSIONS. If checked, 1he following ilre .applicable 10, but.do not limit, 1his Mortgage: TI .constrlJction Loan. This Mortgage secures an obligation incurred for the construction of .an improvement on 1:he Property. TI Fixture Filing. Mortgagor grilnts to Lender iI security interest in 1111 goods 1:hat Mortgagor owns now Dr in 1he future and that lire or will become fixtures related 10 the Property. TI Crops; Timber; Minerals; Rents. Jssues ilnd Profits. Mortgagor gr.ants to Lender 11 security interest in 1111 crops, timber lInd minerals located on 1he Property .as well ilS .all rents, issues, and profits of !hem including, but not limited 10, 1111 Conserviltion Reserve Progrilm (CRP) .and Pilyment in Kind IPIK) payments lInd similar governmental programs (ilII of which shall illso be included in 1he 1erm "Property"). TI Per:ïonal Property, Mortgagor gnmts 10 Lender .a security interest in .all personal property located on Dr connected with 1he Property. Ihis security interest includes .all tarm products, inventory, equipment, .accounts, .documents, instruments, chattel paper, general intangibles, ilnd illI other items of personal property Mortgagor owns now orin !he future 1Ind that ilre used or .useful in 1:he construction, ownership, operation, management, or TTUlinterumce of !he Property. Ihe 1erm "personal property" specifically excludes that property Described ilS "household Boods" secured in l:onnection with 11 "consumer" loan liS those terms lire .defined in lIpplicable federill regulations governing unfair ilnd Deceptive l:redit practices. TI Filing As Financing Statement. Mortgagor lIgrees ~nd ilcknowledges that !his Mortgage illso suffices ~s 11 financing statement 1Ind ilS such, TTUlY be filed of record as iI financing statement for purposes of Article 9 of 1he Uniform Commercial Code. A carbon, photogrilphic, image Dr .o1her reproduction of !his Mortgage is sufficient 1IS iI financing statement. 28. DTHER "TERMS. If checked, 1he following ilre ilpplicable 10 1his Mortgaflt!: TI .Line of Credit. The Secured Debt includes iI revolving line of credit provision. Although !he Secured Debt may be reduced 10 iI :zero balance, 1his Mortgage will remain in effect until released. TI Separate Assignment. ìhe Mortgagor has executed Dr will execute :a.separilte 1IssiBnment Df leases Bnd nmts. If 1:he separ:ate ilssignment of leases :and rents is properly executed lInd recorDed, !hen 1he separilte 1Issignment will supersede 1his Security Instrument's "AssiBnment of Leases lInd Rents" section. TI Additionalìerms. i '.,- . ~~Z;:~':':'i;:"~"0::;'~~~':'~ì"~"l " ~, > .'.' i""'-' Î ~,'. '.., ':\' ...'; '-" .. ~.., .... - f:r> ;::.:\(tt Lt.". ..; t \Úc.;\'~n8':s,;¡:, ,'!d::'~' - ~ ;....,......,:;¡'\.::.'.....;.~'.........::-.....t,....~..~~.V)."..J--".....<-.."' "~~ . .-~JJ ~ © 1993..2001 .Bankers Systems. Inc., St. Cloud. MN Form AGCD-RESI-WY 1/1612003 e-K ~ (page 7 Df BJ :i:~:..i:' j:';t¡;;¡:;~ ¡¡,·.:jJi:iÏif¡:::;::l:: , ' -....' .n <t ~. fa~~'20 \\..J. ,} ..t..I.,..;J, '1, COÔ440 SrGNATURES~ fry signing below, Mortgagor agrees to the- terms and covenantt contained in this Mortgage- and in any attachmentt. Mortgagor also acknowledges receipt of a copy of this Mortgage- on the- date- stated above- on Page- 1 . Q Actual authority was granted to the- parties- signing below by resolution signed and dated Entttv NamlE CIRCLE K. Lt¡;-. A WYOMING UMITED: UABlUTY COMPANY (Si (Date) fZ~~ (Signature) REBECCA KIMMEl. MANAGER/MEMBEIf (Date) C~ It ~tc (Signature)CAROLA. KAMINSKI, MANAGER/MEMBEIf (Date) Q Refer to the- Addendum which is attached and incorporated herein far additional Mortgagors, signatures- and acknowledgmentt. IIndlvlduall ACKNQWLEDGMENT: STATE OF ,COUNTY OF This instrument was acknowledged before- me- this by My commission expires: } ss-. day of (Notary Public) -r~j This instrument was acknowledged before- me- this 1!mf day of MAY. 200& by EDWARIJ KIMMEl: REBECCA KIMMEl: RONAlII A. KAMINSKI; CAROL A. KAMINSKI MANAGERlMEMBEIf: MANAGER/MEMBEIf; MANAGERlMEMBEIf; MANAGER/MEMBEIf or Ehttty Aeknowledgmentl of· CIRCLE K. W;. A WYOMING UMITEIT UABIUTY COMPANY a W OMING My commission expire-s: STATE OF WYOMING , COUNTY OF } ss-. fB'usinen- LAURIE COE- NOTARY PUBUC County of ~. Sta.te of Teton W Wyoming My Commission EXplreg 9/12/2007 Ilïttej'l)) (Name ot BÜsiness: or Entity) siness or entity. ~ © 1993". 200t B.nk..r'lSY~ Inc.. St. Cloud, MN Form AGCO-RIõ5I-WY 1116/2003" (PBgfE II of lI) illliili: ~'~f..~;' flt~II'~:':' t ~~~~Yif~*~N &~ .!~I{!¡I.f~j'.I.~";~