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Home My WebLink About919985 " 'r",; " ',"_ _. .11. '-;. '--'·¡;5..,': " \~\\.. \" ""1 ~/,. <' t',;; ~:..;::;".;>:¡~' ,...;:: .",',.. .."'''' ¡~¡~¡¡:~·:;::;';;.;.c !.!.:f~ Jun-28-2006 01:45 PM 60467 (01) First National Bank 3076543623 16/23 Q0 000651 RECORDATION REQUESTED BY: FIRST NATIONAL BANK· WEST Alpin. 100 Grey. River Rd. P.O. Box 3110 Alpine, WY 83128 WHEN RECORDED MAil TO: FIRST NATIONAL BANK - WEST Alpine 100 Groyo RIv.r Rd. P.O. Box 3110 Alpin., WY B3128 RECEIVED 7/6/2006 at 10:49 AM RECEIVING # 919985 BOOK: 625 PAGE: 651 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY SEND TAX NOTICES TO: FIRST NATIONA~ BANK - WEST Alpin. 100 Gr.y. River Rd. P.O. 80x 3110 Alpin.. WY 83128 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY 10{Jí MORTGAGE THIS MOnrGAGE dated June 26, 2006, Is made and executed between RITA LlAGE and CHARlES W BOYD IV. WIFE AND HUSBAND. AS TENANTS IN THE ENTIRETIES (referred to below as "Grantor") and FIRSr NA'TIONAL BANK· WEST, whose address is 100 Greys River Rd.. P.O. Box 3110. Alpine, WY 83128 (referred to below as "Lender"). GRANT OF MORTGIIGIE. For v.iuable oon.id'l1Ition. Gl1Intor mort9'ges .nd conveys '0 Lend" all of Grantor's ii(ht, tide, and intere$t in and to the following de.cribed real property, 'ogcther with aU existing or .ub.aquentiy aractad or altJx.d building., Improvaments .nd fixture.; all e..ements, ri9hts of way, and appurtenanoes; an woter. woter rights. wateroourses and ditch rI!)hts (inoluding stook in utilities with ditoh or irrigation ñghta); and all other rights, royllties. .nd profits reletinw to th.. raol property, Including without limitalion on miner. Is. oil, ga.. geothermal .od .Imll.. mattere, (the "Real Property") located an LINCOLN County, Statlil of Wyoming; LOr 4 OF ALPINE ~ImIEAT OlliE (1) AS PLATTED, FILED AND RECORDED IN LINcOLN COUNry, WYOMIIIIG CLERKS OFFICE IN Kf:MMERf:R, WYOMING. The Real Property or Its address Is commonly known as LOT 4 ALPINE RETREAT, ALPINE, WY 83128. The Real Property tax Identification number Is 36190920200800. Grentor presently ...Ign. II> L.nder aU of Grantor'. righr, title, and Inter"' In and to 01 present and future leas.. of the Property and .11 Rents Irom tha Property. In addition. Grantor grant. to Lend" . Uniform Commercial Cod. .eo~rlty Interest In the P.rsonal Property and Rent.. THIS MORTGAGE, INCWDING THE ASSIGNMENT OF RElIITS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE A) PAYMENT OF THE INDEBTEDNESS AND IBI 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. £xo.pt.. otherwise provided In thl, Mortgage. Grantor .hall pay to Londer al amo~nts seour.d by this Mortgago a. thoy bocomo due and shal .trlctiy perform al 01 Grantor'. obligation. undor thl, Mongago. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agreas that Grantor', pas....sion and use of the Property shall be governed by Ih. following provi.ion.: Po.....1on and U... Until tha occurrenca of )ß evant 01 Daf.ult, Gr.ntor ltUIy (1 I r.m.1n In pos.o.slon ond control of the Proporty; (21 ~", ooerote or menage the Property; and (3) colle01 the Renu from the Prop.rty. Duty to MaintaIn. Grantor ohall malnrab, tho Proparty In good eondldon .nd promptly porform all rop.I... raplaeomonts. .nd m.intenance necessery to pr...arve Ito value. Complience With Environmet1101 Laws. Gfilntor represents and warrants to Lender that: (1) During the period· of Grantw'a oWnershio of the Property, thera has baan no us., generation, manufDctulfil, atoragG, treatment, dlaposal, rE::laa8e or tnreau:nQd releasc of anv Hazardous Substanoa by any parson on, undar, about or from the Property; (2) Gremor has no knowlodga ot, or reason \0 bellevo thot there ha. boon. oxcopt os prevloualy <bclo.ed to ond ocknowlodgod by Lendar In wrlllng. la' onv braoch or violation of any Environmental Laws. (b) any U", generation, manufacture. storage, naaunant, dlspasal, release or threatened releasa ot any H.zardous Substanoe on, under, "bout or 1rom the Property by any prior owners or ooo~panto 01 the Property. or 10) ¡ny iIOtu¡1 or thr.¡t.ned IItigadon or claim. 01 any kind by any par.on relating to .uch m.nara; ond (3) ExClpt.. previously diaclo.ad 10 and acknowledged by Lender in writing. (al neither Grontor nor any tenant. contractor. .gent or other authorized u.er of the Property shall use, generate. manufact~re. ortore, treat, d..pos. of or ral.... ony Ho.ordoua Sub.tone. on. undar, .bout or from tha Proparty; ond Ibl ony .uch activity .hall be conducted in compliance with .11 applic.ble laderal, state, and local laws, regulations and ordinances, including without limitation all Environmental L"ws. Grantor Authori... Lándor ond it~ agants to ent.r upon the Property to mab .uch I""peotio"", .nd ta.ts, at Grantor'. expon... a. Lánder m.y doo", .ppropriate to determine compUance of the Property with this section 01 the Mortgage. Any Inspections or tests ",ode by Lender sholl be fOf Lander', purpos." onlv and ,h~n not b. construed to ór.at" any t"apon'ibility Qf liabilitv on the pðtt of LAndet to Grantor 01 to any other porson. The representations end w.rr.mie. oomolned herein are bosed on Grontor's due diligo""e In Inveotig¡¡tIng tho Proporty (or Haz.rdous Sub.tanes.. Grantor h",oby (1) role..o. .nd waive. any fulure cl.ima ag.lnst Lender for indemnity or contribution in the .v.rn Gr¡lOtor b,çorna I1ðbJ, for clllJ1up or other COStl I,Ir1der tlnv ,uch l.wI; iIOd (2) 'gra., 19 Ind.mnJfv, defend, and hold hormlQss Lender against any end all claim.. Ios.... llebllltl... damages. pen.lti.... and expens... which Lender may dlreotiy or Indir.otly suetoln or .uffer r..~lting from a broaoh of tIlla ..otlon 01 the Mortgoge or .. .. oon..quenco of any u... g.noratlon, m.nuloolura, storage, dispo.al, rele..a or throat.ned rol.a.. occurring prior to Grantor's ownership or Int.rast In tha Property, whether or not tile sema was or .ho~ld have been known to Grantor. The provisions of ihi. seation 01 the Mortgage, lnoluding the obligotien to ind.",nlfy and d.l.nd, .h.1I .urvivo Iha poymenl of tho Indabt.dn... and tha satl.lactlon ond raeonv.yonca of Ih. lion 01 this Mortgago and ohal not be afleetod by Lender'. ecquisition of any Interest in the Property, whether by foreclosure or otherwise. Nuisance, Waite. Grantor shall not cause, conduct or permit any nuisance nor commit. permit. or Buffer anv stripping of Or' wilt. on or to the Property or ony portion of the Property. Without limiting the generality of the Iotegolng, Gr.ntor wi. not ramov.. or grant to any other p.rty the right to remove. any limb.r, mlncr." (including oil and gOll), coai, clay. .corla, .01J, gravel or rock produots without Lender's prior written oonsent. R,movel of Improvem.nts. Grantor shaD not demolish or remove any Improvemants from the Real Proparty without Lender'. prior writton consent. A. a condition to ,he romovÐl 01 any ImprovamÐnts, Lond.r may require Grantor to mako arrangements satisfactory to Lender to replaoe such Improvements with Improvements of at least equal value. Londor'. Right to Ent.r. Lándor and L.nd.r·. .g.nl. and ropr...nt.t!v.. may .ntar upon tho Real Proporty .t all rea.onable times to attend to Lender's interests and '0 inspeot the Re" Property for purposes of Gr.ntor's oompUano. with the terma and oondition. of 1his Mortgage. CompUance with Govomm,nul Roquiromonto. Gromor .hall promptly oomply with .1I1.w., ordJnan.... and r.gulatlon.. now or h.r..ltar in effecr, of aU governmemal authorities applicabla to ,he usa or pccupancy of the Property. Grantor may oontm in good faith any suoh low, ordlnanoe, or regulation and withheld oompllano. during .ny proceading. Inoludlng appropriate aooaals, SO long D. Gr.nlor ha. nOlified Lendor In writing prior to doing .0 and .0 long a., In lÆ:ndor'. .01. opinion, lÆ:ndor', Int.rests in tha Property are not jeopardized. Lender may require Grantor to post adequate security or " .~rety bond, re..onably sati.lactory to Lender, 10 proteot Lender's Interest. Duty to Protect. Grantot ogroo. neither to .bondon or leo~e unott.nded 1he Prooerty. Gr¡¡ntor .hall do aU oth" acts, in oddltlon to tile.. act. set forth above in ti,¡. section, which from the character .nd u.. of 'he Prop.rty ar. r.a.onably necessary to protoct and prc.erve 'he Property . :::::::~::::t::~~::;: ¡¡I..fi·f·I·.~!.·.!.·. ~w;~mW¡;!;f.i~ill "¡~I;!'i':'\!' Jun-28-2006 01:46 PM 091.9985 First National Bank MORTGAGE (Continued) Page 2 Loan No: 764003664 3076543623 17/23 00('652 TAXES AND UENS. Tho foUowiny provltlom rel~dng to the taxes and tien. on the Property are part of this Mortgage: Paym.nt. Grantor shen pay whon duo (end In 011 ovonta prior to dltinquoncyl .11 t...s, p.yroll t.x... .peclal tax... ......m.nt.. water chorgo. ond ..wot $Orvleo chorg.. I.vl.d ogalnat or on accoum of the Prop.rty. and shall pay wh.n due all claIms for work dona on or for .ervices rendared or material furnished to the Property. Gr~ntor sholl m~lnt~in the Proparty froo of any lio"" h~vin9 priority over or equal to tho int.r..t of londor undor W. Mortgag., ."".pt far tho.. Uenl specifically egreed to In wrIting by lender, end excapt for tha lien of taX.. and ~"e..ments not due IS funher speclfiad In the Right to Contcst paragraph. Right to Contest. Grantor may withhold paymem of any tax. asse..ment, or claim in connection with a good folth dlspulo ovor tho obligation to pay. 00 long as Landor's Intarost in tho Proportv ¡,¡ not ¡ooPMdb:ed. If e Uen ori... or la fllad aa a ra.ult of nonpayment, Grantor .hall within flfteen (15) daY' after the lien arises or. if a lien Is filed, within fifteen (15) deys aft., Grlltltor ho. notleo 01 tho filing. secure tho discllergo of tho tion, or If roquostod by Land... d.poslt with Lender c.ah or a suHiclent corporate .unny bond or other oacurity setisfactory to lender In en amoum aufficlem to dlscherg. the nen plus any costs and raosonoble attornoys' foas, or other chorge. thot could aCerua es e r..ull of a foreclo.ure or .ale under the lien. In III1Y contest, Grentor shell defend Itself end l.nder end .hell setisty eny edverse judglllÐnt balora anforcom.nt ago/nst tho Prop.rty. Grentor ,hlllI nel11<O lender as an additional obligee under eny surety bond furni.hed In the conte.t proceedings. Evidenc. of Paym.nt. Gremor ahall upon demend furnlah to lender .atisfactory evidence of peym.nt of the texes or e$Sossmcms end shell authorl.. tho approprl.te go".rMlont.1 offiei.1 to dotiver to lendo< .t .ny time a writt.n stat.ment of the taxes and a.sessmem. egalnst the Property. Notice of Constnlction. Gremor shall notify Lender et least fifteen (15) deys before any work is commenced, eny services ere furnished. or any matarlals ora ,uppllod to the Propllly, If any mechanic', lien, m.terl.lm.n', U.n. or oth" H.n could b. ....rt.d On occount of tho work, ..rvlc.a. or m'terlal.. Gramor wID upon requaat of lender furniah to lender advance e..urenc.. uti.fectory to lender thet Grentor cen end wlH pey tho coat of such Împrovom.nts. PROPERTY DAMAGE INSURANCE. The following provlalona reletlng to In.urlng the Property ere . pert of this Mortgege: Maintenance of Insurance. Gremor shell prooure end meintein policie. of fire Insurenee with stand,rd extended coverage endorsements on a roplacomont bosis for tho fuli Inourablc value covering olllmprovemonts on the RoaJ Prop.rty In on amount .utllciont to ovoid application of any coinsurance clause. and wm. a standard mortgagee clause in favor of Lender. Policies shall be written by such insurance companíes .nd In luoh lonn II m.y b. reolonably soc.ptobl. to Lendor. Grontor .hall d.livor to Lender eortiflcet.. of covllog' from uch insur.r containing a stipulation that cov.rogo will not b. clltlc.lled or dlminioh.d without. minimum of thltty (30) days' prior written notice to lend.r end not conteimng eny disclsimer of the insurer's lIebülty for feilure to give suoh notice. esch in.urence policy also shall Include an .ndors.mont providing that covllag. In favor of Lendar will not b. Impair.d in any way by any oct. omlsllon or dafoult of Grantor or any oth.r per.on. Should the fI.al Property be located in en aree designeted by the Director of the Federal Emerg.noy Menegemem AI/enoy a. e sp.eial flood hII.ard aro., Grantor agr..s to obtain and maintoln Fodllal Flood Insuroneo, If available, for tho full unpaid principal balanco of the loan and eny prior liens on the property securing 1I1e loen. up to the meximum policy limit. .et under the Netionel Flood Insurence Program, or a. oth.rwi.. required bv lender. end to maintain .ueh inoura"ee for the term of the loan. Application of Procoods. Grantor .hell promptly notify Lander of eny loas or damage to tho Property If the ostimaœd cost of repelr or replacement exceeds .1.000.00, Lender mey make proof of los. if Gramor fails to do .0 within fifteen 11 tj) days of the oeaualty. Whether or not lender'a socurity is impaired, Lender may, at Land.r's .Iection. receive ond rotein Ule proceeds of eny insuranco end apply the prooeads to tha reduction of the Indabt.dness. payment of any lien affecting the Prop.rty. or tho restoration ond rap~r of the Property. If Landar olacts to apply the proceeds to rastoration and repelt, Grantor shell ropair or replacc tho damogod or destroyed Improvements in a manner .atisfactory to L.ender. lender .hall. upOn utialactory proof of auch expenditure. poy or reimburea Grontor hom the proo"d. for the roasonoblo cost of ropair or roatoretion If Gramor Is not In defeult under this Mortgege. AI1y proceeds which hev. not been disbursed within 180 dey. after their receipt end which L.ender he. not oommitted to the rep¡¡ir or restoretion of the Property .holl be ""ed firwt to P~v ilny amount owing to landar under this Mortgaga, than to pay nccruad IntaraQt, and the rQrnaindet, if any, shall be applied to the principaJ belance of the Indebtednes.. If lender hold. any prooeed. efter peyment in fun of the Indebtedn..s, .uoh pro..ed. eh911 ba paid to Grontor a. Granlor'a \ntltoato moy eppear. l~ND~' S I;XpENDITU¡¡Ë$. If Grantor fei'" (A) to keop the Property froo of all to.... lions. l8eurity intorosts. onoumbrancoa. and othar claims, (8) to provlda any r.quircd insurenco on the Property, or IC) to meke repelrs to the Property then lender mey do '0. If any a01ion or proceeding is ccmmenced thet would materially effect lender'a interem in the Property. then lend.r on Grantor', behalf may, but is not roquired to, Uk. any action that lendor b.UevO£ to bo epproprleta to protect lander'. intereats. All C)(Ienses incurmd or peld by Lender for auch purposes will then b.ar Inter.st et the rote charged under the Note from the data Incurred or paid by l.nder to the dote of repayment bv Grantor. Allauch axpo"," will become a pOlt of the Indobtodno.. and. at Londar's option. wlli tAl bo payabla on demend; IS! bo edded to the balence of the Note end be epportioned emono end'be peyeble willi any Instellmem peymems to beoome due during either (1) the term of anv applioabla in.urance pOllcv; or (2) thE! romainlng tarm of the NOIé; or IC) bE! Iroatod as a balloon payment which will bo dUB ond payablo at the Note'. meturity. The Mortoege elso will secure peymem of these emounts. The rights provided for in this paregraph .hall be In addition to any oth.r rlghl8 or anv romadln to which lendor maV bo ontitlod on account of any defoult. Any such action by Lender shen not be oonstlued a. curing the default so as to ber Lender from any remedy that it otherwl.e would have hðd. WARRANTY: DEFENSE OF TITLE. Th, following provisions relating to ownorship of the P,oporty aro . port of this Mortgege: irll.. Granlor warrants thaI: /01 Grantor holda QOod and marketabla title of record to tho Property in fee .imple, free and clear of eli liens and encumbrences other then tho.e .et forth in the Real Property description or in any tille inaurence pclicy, titl. rOpOrt, or final titl. opinion issuad In favor 01, end oocoptad by, Landor In eomaction with this Mortgage, end tb) Grentor ha. the full right. power, and authorÎty to execute end deliver thl. Mortgege to lender. D.f.ns. of TltI.. Sub!eot to the .><coptlon In tho paregr.ph abov.. Grantor warrants and will forover defend the title to the Property egeinst the lawful claims of en persons. In the event eny action or proceedIng Is commenced that que.tlons Gr.ntor'. title or the ¡ntere.t of lender under thl. Mortgeg.. Grantor shall defend the action .t Grantor'a expense. Grantor may be the nominal party in auoh procaoding, but lander .hall b. ontitled to participate in tho proo.oding and to ba roprosentad in tha prooeeding by counsel of Lender'. own choice. .nd Grentor wül deliver. or cause to be delivered, to lender such instrument. as L.ender may request ham time to time to permit .uch pertieip.tion. Compfian"" With UW5. Grantor worront. that tht Property and Grantor's usa of tho Propottv oompllo. with ali oxistlng applic.bl. lew.. ordinances, and regulations of governmental authDritles. Survival of Promi.... All promi..., agreements, ~nd statement. Grantor h.o mado Ûl thl. Mcrtyaga ,h.1I tiwviva the ....oution and dallvary of this Mortgege, shaJl be continuing in netwc end shall remeln In full force end effect Until such time es Grentor'. Indebtedne.s i. peid in fuU. CONDEMNATION. Th. fallowing provi.lona r.lating to condemn~t!on proceedinga are 0 port of this Mortgago: Proaoodingti. If any procoading in oondamnation is liIod. Grantor sholl promptly notify Londor In writing. end Grentor sh.1I promptly teke such step. es mey be necess.ry to defend the ection and obteln the eword, Grentor m.y be the nominal party in ,uoh proc..ding. but lander ahall ba antitlad to partioipato in the procaading and to bo ropresontod In the proceodlng by counsel of Its own choice, end Grantor will deliver or oeuse to be delivered to lender such ins1Juments and documentation as may b. requested by Lender from tima to tima to pormit such pertlclpation. ApprlOation of N.t Pro"".ds. If.1I or any part of the ProPorty Is condamned by omlnant domain proce.dings or by eny proce.ding or purchese In lieu of condemnation. Lender mey at its elecUon require thet ell or eny portlcn 01 the net proceed. of the award be applied to the I"debt.dne" or the ropair or ro.toration of the PrOPerty. The nat procaada of the award shon maDn tho ewerd eft.r paymem of all reesonable CasU, expenses. end attorneys' f.es incurred by Lender in connection with the ccndemnetion, IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITI~S. Th. following provlslonl ralating to gov.rnmontal taxos, f..a and ehargos era a port of this Mortgago: Current Tax.s. Foo. end Cherg... UpOn request by Lender, Grantor .hell .xecute such documents In eddltlon to this Mortgege .nd take whatever olher .ction is requested by lender to perfect end continue lender'a lien on the FI..I Property. Grontor .h.II reimbur,e Lond.r for en taXes, es described below, togetl,"r with aU expens.. incurred in recording. perfccting or continuing thi. Mortgego, including without limitation oil taxes. f.... documentary .tomps. and other charge. lor recording or registering this Mort98ge. T..... The following ehall con.tltute t.... to wtúch this notion applln: (1) . sp.cific t..x upon thi. typo of Mortgage or upon all or any p~rt of tho Indobtodnass .ecured by this Mortgaga; (2) a opeclfic tex on Grantor which Grantor is euthorized or required to deduct from Jun-28-2006 01:46 PM First National Bank 3076543623 18/23 091.9985 Loan No: 764003664 MORTGAGE (Continued) COC653 Page 3 payments on tho Indcbtodm>ss secwed bV this typo of Mortgnge; (3) a tax on this type of Mortgnge chargoabla ngninst the lendar or tho holder of the Note; and 141 a ~pecffic tax on all or anv portion of the Indebtedness or on payments of principal and interest made bV Grantor. Sub$Oquant Tax.... If any tax to which this &action applies is onaoted eubsequont to tho dote of thla Mortgoge, this event .haU have the same effect as an event of Default, and lander may eXelcise any or all of its available remedic. for an Event of Dcfault .. provided below unla.. Grantor either (1) payS the tax before it beoomes delinquent, or (21 oont.st. the tox o. provid.d obov. in the Taxe. ond lien. seotion and deposiB with Lender oash or a .ufficient corporate surety bond or other security satisfactory to lender. SECURITY AGREEMENT, FIJIIANCIJIIG STATEMeNTS. The following provisions ralating to thla Mortgege a. a .eourity agreement ara a part of this Mortgage: Saourlty Agream.ot. This Instrumant shall constltutt s Security Agraement to the axtant any of tha Property constitutes fixtures, and lender shall hava all of the rights of a seoured party under the Uniform Commeroial Code as aM$nded frQm time to time. Sacurlty Interest. Upon request bV lander, Grantor .hall lake whalever action Is requested by lander to perfect end continue lander', security interest in the Persona) Property. In addition 10 recording this Mortgsge in !tie real property record., Lender may, at anv time and without further .uthorlutlon from Grantor, fila executed oounterpart.. oople. or reproduction. of thia Mortg.ge .. . fln.nolng .t.t.ment. Grantor sh.U raimbw.e lander for .11 expenses incurred in perfecting or continuing this .acurlty intÐrest. Upon default, Grantor shall not remove, sever or detach !tie Personal Property from the Property. Upon default, Grantor shall a.semble anv Per.onal Property not affixed to the Property in a manner and at a plaoe reasonablv oonvenient to Grantor and lender and make it av.ilable to Lender within thr.. {3 day. .fter receipt of written dem.nd from lender to tho extent permitted by applicable law. Addre"... Tho m.iling adelrasus of Grantor (dobtorl and lender (sacured party) from which information concerning the security interest granted bV this Mortgage mav be obtained (eaoh os required bv the Uniform Commeroial Code) are as noted on the first page of this Mar tgage. RJRTHER ASSURANCES; ATTDRNEY-IN·FACT. The foDowing provisions relating to further ..aurances and anornev·in·faot are a part of this Mortgago: Furti,er Auur.nces. At any time, end from time to time, upon reque.t of lender, Grantor wiK make, execute and deliver, or will oause to be made, execllt.d or delivered, 10 lender or to landor'. doolgnoo, .nd whon roqua.tod bV landot, cau.e to be med, recorded, rellled, or rerecorded, .. the c..e may be, lit such times and In .uch offices and place. a. lender may daem appropriate, anv and all suoh mortgages, deeds of trust, seourity deed,.. :seourity ilgreement., finiJncing ß.temerrt4l. CQf\tinJ.Ii:tion $tatemtnt¡, In¡ttumQnts of futth. 3"UrnnCe, certlfleDte., and other doeumants ., may, in tho .00a opinion of lender, be neces.a¡y or desirable in order to effeatuate, compiete, perfeoT. continue, or preserve (1) Grantor'. obligations undar tha Note, this Mortgage, and the Ralated Documanw, and (2) tho liDn. .nd .ecurity interest. cr..ted by thI. Mortgaga .. fifOI and pllor lians on the Property, whether now owned or hereafter acquired by Grantor. Unle,. prohibited bV I.w or lender agroe. to the contrary In writing, Grantor shell reimburse landar for aU co.ts and expen.a. Incurrad in cOMeetion with the matters referred to in thI. paragraph. Attornev-ln·F.ct. If Grantor fails to do any of the thing. referred to in the preoeding paragraph, lender mav do .0 for and in tho name of Grontor and at Grantor'. .xp.ns., For auch purp...., Grantor hereby irrevocablv appoints lander.. Gr.ntor', anomev-in.f.ct for the purpo.. of making, ex.cutlng, dølivellng, flUng, recording, and doing all o!tl.r things as mav be nace.sory or de.lroble, In l.nder'. .ole opinion. to acoomplish the maners referred to In the preDeding paragraph. R)ll PERFORMANCE. If Grantor pay. all the Indebtadnus whan due, and otherwlsa parforms 011 !tIa obligations impo.ed upon Grantor under this Mortgage, lender .hall execute and deliver to Grantor a suitable oati.faction of this Mortgage end .uitable otatementa of tormination of any fin.nclng st.tement on fU. evidencing land.r'. ..curitv Intora.t In the Rent. .nd tho Personol Property. Grantor will paV, if permined bV applicable law, anv reasonabla termination fea eo datermlned by lender from time to time. EVENTS OF DEFAULT. At lender'a option. Grantor will be In dof.ult under this Mortg.ge If anv of Ih. following happen: P.yment Jetault. Grantor fa", to make .nv pavment whon duo undo< the Ind.t>tedn<l$O. Pef.ult on Dtner p.yment.. F.Uu" of Grantor within the time "quired bV thl. Mortgage to moke anv payment for taxes or insurance, or any other p.vment naca....ry to provent filing of or to effect dlscharga of anV lien. Bro.k Other Proml.... Grantor breaks any promlsa made to lender or f.lI. to p.rlorm promptlv at tho tlm. and .trlctlV In tha m.nner provided in thb Mortgage or in ony agr.emont roJ,t.d to this Mortg.ge. Fal.. St.t.rn.nt.. AnV repre..nt.tJon or 'Iot.ment mada 01 furnl,hed to lander bV GrDntor or on Grantor's behalf under this Mortgege or !tIa Rolatad DoDum.nt¡¡ is foi.e or mi.leeding in anv moterioJ respect. either now or et !tie time made or furniahed. Defective C.llatorallzatlon. This Mortgoga or .ny of tho Ralatad Documenlt 0..... to be In full force and eUaet (Including f.llur. of any Dollatara' dODumant to or.ate . valid and pelraetad .eeurlty IntÐrÐSt or Wan) at any time and for any reason. Da.th or In.olvanov. Tho dea!tl of Grantor, the insolvencv of Grantor, the appointment of a receiver for .nv p.rt of Grantor'. property, anv a.sÎgrvnent for the benefit of creditors, anv 1vpe of creditor workout. Qt thø eommancam.nt of .nv proceeding under anv bankruptcy or Insolvency I.ws bV or .galn't Grootor. T.IcJng of the Proporty. Any creditor or goverrvnentoJ agency mes to talce anv of!tla Proparty or anv other of Grantor'. prop.rty in which lender ha. a ~en. Thi. includes taking of, garni.hing of or lavying on Grantor'. aeoounla with lender. However, if Grantor disputes in good fn/!tI whether the elalm on which tho taking of the Property is based i. valid or reo.onable, and if Grantor glvOt lendor writt.n notice of the Dlaim and furnishes Lender with moni.. or a .ur.ty bQnd sotl.factolv to landor to .atlsfV !tI. claim, then this default provision wiU not epplv. Braach of Dthet Agr.omant. Any breach bV Grontor under tho terms of anv other egreement between Grantor ond londar that Is not ramadied within env gr.ce period provided therein, Inoluding without limitaticn anv .greemant concerning any indebtedne.s or other obligation of Gr.ntor to landor, whother oxJsting now or later. Events Affecting Guorontor. Any of the preceding events ooour. with re.peot to any guarantor, andorsat, suratv, or accommodation party of any of the Indebtedn... or ilny gUiltantor, IndoraQl, surety, or Dccommodntion party dies or becomes incompetent. or revoks& or' disputes the validity of, or liability under, anv Guaranty of the Indebtedness. In the .vont of 0 death, lander, .t its option, may, but shall nol be required to, permit tho guarantor'. estate to ...ume uncondltlon.lIv the obligation. ari.ing under !tie guaranty in a monn.r satisfactory to lender, and, In doing so, cure any Evant of Dafault. Insecuritv. lend.r in good faith believes itself Insecure. RIGHTS AND REMEDIES ON DEFAULT. Upon the ooourrence of an event of Def.ult and at anv time thero.fter, lander, .t land Dr's option, mav exerol.e InV one cr more of the following right. .nd "m.dl.., In ilddillon to anv othar right, or remedies prcvided by law: Accelerate Indebtedne... lender .hall h.ve the right at i~ QPtiQn wlthoUL notlca to Grantor to declsra the entira Indebtednass immediately dua and pavable, Including .nv prepayment penalty wI,;ch Grantor would be required to pay. UCC Remedie.. With respect to all or any part of the Personal Propenv, lender ¡hall hove aU tho rights .nd remedies of a sacured party under the Uniform Comm.rclal Code. CoUect Rents. landar .hDII have tho rIght, without notlca to Grantor, to take possession of the Property, Including during tho pendency of forec'osure, whe!tler Judlclel or non-Judlolol, .nd oolloot th. Rents, Including amounla past due and unpoid, and applv the net proceeds, ovar nnd .bovG lender's costs, against tha Indebtedness. In furtherence of this right, lend.r may raq"ra anv tanant or other user of the Property to make payments of rent or uee fe.. diteotlv to lander. If the Ranta ore collcctOd by lender, then Grantor irrevooablv deslgnot.. lander as Grantor'. anorney.in-fact to endorse in.truments reoeived in payment thereof in the n;una of Grantor and to nagotiate the same end Dolleot the prooaeds. Paymento by t.nant. or other users to lander in response to Lendar'a damand shall setlsly the obligotiQn$ fcr which the payments are made, whether or not anv proper grounds for the demand e~i.tad. lander mav oxercl,. ita rights under this eubparagroph alth.. In peraon, by og.nt. or through a recaivar. AppDint Recoiver. lendor ahall have the right tc hava a raoaivar .ppolnted to t.lce pos.os.ion of all or anv port of !tIa Property, with the pow.r to protect and preserve tho Property, to operate !tie Property preoeding foreolosure or sala, and to collaot tho Rents from the Property and epplv the prooeed., over .nd above the oo.t of the reoeivership, agaioot tha Indabtadnass. The receiver mav serve without bond If permitted by law. landar'. right to !tie appointment of e receiver shall exist whether or not the apparent value of the PrOPo(tv oxc.ed, the Indebtedne.. by a substantial amount, Emplovmant bV lender shall not diaqua~fy a parson from .elvlng a. . receiver. ~~¡~¡!¡i!~~~W~k~J (}~jL~~~-28-2006 01 :47 PM First National Bank 3076543623 19/23 corS54 LOlln No: 764003664 MORTGAGE (Continued) Page 4 Judicial Fo"çla.u". Lander may obtain. Judicial d.cr.. foreclosing Grontor's imerest in all or any pan of the Property. Nonjudiclol Sale. Lend.r moy for.clo.e Grantor'l intere.t in all or in Iny part of the Property by non-judicial sale, and specifically by 'power of salo" or "advortisement Ind s.le" foroclosure D$ provided by .tatuta. Deficiency Judgonant. It permit!8d by opplioabla law, Londor may obtain a judgmant for any dafielency remaining In the Indebtedness dua to Lander Ifter application of all amounts recaivad from tha axercise of the rlghta provided in this soctlon. T.n......y ;It SuHoriIDoo. If Grantor remains In posses.lon of the Property elter the Property Is sold as provided above or Lender otherwise becom.s entitled to po.....ion ot thø ProJQny upon dolault 01 Grantot, Gronlot shall booomo a tanant at suHoranc. of londor or tho ¡lUroh...r of the Proporty ond shoA, it Lender'. opUon, either (1) pay a reosonable rllr1t1ll for the use of the Property, or (2J vacate the Property immediately upon the demand 01 Lendor. Other Remad1es. Lender ahall have all other rights and romodlos provldod in this Mortgogo Of Ula Nato or availabla at law or in oquity. S.le of the Property. To the extent permitted by appUolble law. Grantor hereby waives any Ind IA right to have the Property marshallod. In """rcislng ita rights and romodlos, Landor shoU bo Iroo to soil all or any part 01 the P,opwty togethe, 0' .aparotaly, in one lola Dr by Beporate ule.. Lender .holl be emitted to bid It any pubiic Slle on all or any ponion 01 the Property. lIIotlc. of S.I.. L.nd" will give Grlntor re..onabl. notIca of tho time and pl.ce of any public ..10 of tho Por.onal Property Dr of the time alt9t whloh allY private ,ala or otha' Intendod disposition of tho P.,s~1 P'operty is to be made. Reaso~bla notico shall mean notice glv.n at least ton 110) d.ys b.fore the time of tho ..Ie or disposition. Any sale of the Personal Property msy b. msda In cOli/unction with any .ale of the Fteal Property. EJ.ctlon of R.madle.. All of Lender'l rights .nd remadl.. will b, cumul.tlv, and m.y b, '~'rcl.ad alon. 0' tog.ther. An oJ.etion by Lendor to choocc anyone remedy will not bar Landor Irom using any other rem.dy. If Lender d.cidesto spend money or to perlorm any of Grentor's obllga1Jons under this Mortglgs, Ifter Grantor'. flllure to do ao. thlt deci.ion by Londer wID not ,Hoct Londor's right to doela,o G,antor In dofault and to exarciso Landor's romodios. . Attorn.y.' f.oo; I!xp.n.... If londor institutes any suit or action to onforeo any of tha tarms ot this Mongagc, Lender shall be .ntltled to recover such .um a. the coun moy adjudge re..on.ble as attorneys' fees .t utsl and upon .ny .pp.at. Whether or not any court Iction I. involvod, and to tho o"tant not prohlbltod by law, oU ra.sonabla oxpanoos londor Incurs that in landor's opinion aro nece.s.ry .t .ny time for tho protection of Ita lmerest or tho ontorcemom of Its right. shoM b.come a p.n of tho Indebtedn..s p.y.bl. on d.mand and .hall b... int.reõ! It tho Note 'ato from tho data of the ."penditure until rapaid. Expono"" oovorod by this p....g'aph Include, without limitation. however subject to .ny limits under .ppllc.ble law. Lender's r...onable .ttorney.' lee. end lender's legal expen.e. whether Dr not there il a law.ult, Including re,"onable attorneYI' to.. Ind exp.ne.. for b.nkruptQy proea8dlngs {including afforts to modily 0' voooto any automatic stay or III/unction!, appoals, and any .nticipated polt·judgment collection servic... the cost of .earching record.. obt.ining title reports (including foreclo.",a reponsl. .urveyor.' report.. and appr.isat fee. and tItI. In.uranc.. to tho ."tent permittad by applicablo law. Grantor a~o will Pay any COurt costs, In addition to .11 othar sums provldod by law. NOTICES. Any notIco roqulred to be given undor this Mortgage, Including without limitation .ny notice of default .nd eny notloe of ..Ie .hall b. given in writing. .nd .hall be effective when actually delivered, when Ictually receivad by relefacoirnila (unla.. otherwiso roquitod by law), whon daposlt.d with a nationally rocognJ2od ovo,nlght courlor, or, if maUod, when deposited In the United States mall. .. first cl.... cenified Dr registered mall poet.ge prep.id, directed to tho .ddr..... .hown noor tho beginning of thI. Mortvago. All coploa of notlc"" of fo,oolosura Irom the holder of any Ii.n which bas priority ovar thIa Mortgago shall bo sent to Lander's address, as shown n... tho b.glnning of this Mangas.. Any person may chang. his or her address for notIc.. under this Mortgag. by giving form.1 writt.n t\Dtlc. to tho othe, parson or po"ons, specifying thot the purpo.. of tho notic. 1$ to chango tho porson's add,oss. For notico purposes, Grantor .grees to keep Lender informed at .11 timea 01 Grantor's current address. Unles. otherwi.e provided or required by I.w, if there i. more than one G'antor, any notios gi".n by Landar to any Grontor Is deem.d to bo notlca glv.n to aU G,antot.. It will bo Granto,'s responsibility to tell the others 01 tho notice from Lender. MISCELLANEOUS PROVISIONS. Th. following mlseollonooua provision.o aro a pan of this Mortgage: Amondmanla. What Is writton In this Mortgage and In the ReI.ted Docum.nts Is Grantor's entire agreement with l.nder concerning tha m.tters covered by this Mortgage. To be eHective, .ny ohenge or amendm.nt to thie Mortgag. must ba In w,iting and must bo signed by who.vor will b. bound Or obligatad by tho ohango or amandment. C.ptlon Headings. Caption headings In thia Mortgago 0'0 lor convonlenco purpose. only and are not to be u.ed to Interpret or define the provisions 01 this Mongago. Govornlng Low. Thl. Mortg.ge wW be governed by federal law .ppliclble to Lender end. to the e><tent not preompted by f.doral law. tho ItIw. of the Stilt_ af Wvoming without regard to ita conflieta; of law provision.. this Mortgage has been accepted by Lender in the State of Wyoming. Cholco of Venue, If there i. a lawsuit, Grantor .gre.. upon lend.r's request to .ubmlt to 1I1e juri.dictlon of tho courU of Uncoln Counly, State of Wyoming. Joint and Soveral U.blOty. AIi obllg.tlons of Grantor undor thl. Mongege .h.1I be joint end several, .nd all reterenc.. to Grantor shall moan Nch and every Grentor. This maans that .ach Grantor signing below Is rosponslbla for ali obligations In thla Mortg.g.. 1110 W.lvor by Londer. Grantor understands Londor will not give up any of Lender's rights under thl. Mongsge unless Lender doe. .0 in writing. The fsct th.t Lender del.y. or omit. to ..erclsa any right will not moon that L'nder has givon up that right. If Lander doo. agree In writing to give UP ono of Londor's rights, that doos not mean Grantor will not have to comply with the other provl.lons of this Mortgage. Grantor also under.tand. thet if Lender dolS cons.nt to . roqu..t. thot do.. not m.on that Grantor will not have to got londer'o consent again if the .ituation happens again. Grantor further understands that just booausa Londor consents to one or more 01 Grantor'. reque.ts, thaL doos not moon Londer will bo roquir.d to consent to eny of Grantor'. MUle reque.ts. Grantor waives ",o.antmont, domand fo, payment, protest, and notice 01 dl.honor. Grantor walvIS III rights of a".mption from o.aeutlon ot similor law In the Plopeny, and Grantor 8g".. that tho rights of Landor In tho Property undor this Mongage ore prior to Grantor'. rights while thI. Mongage remain. in affeçt. Savarabillty. If a oourt finds that any provision of this Mongage Is not v.11d or should not be .nforc.d. that f.ct by it..lf wiD not moan thot the rest of this Mortg.se will not be valid Dr enforced. ,herefore, a court will onforce tho reot 01 the provisions of this Mortgage ev.n If . provision of thia Mortgago may be found 10 ba Invalid or unenlorceable. Moroor. Thoro shon bo no morgar of tho Int.rcot or ..tate cre.ted by thI. Mongage with any other intere.t cr eatlte in the Property at any time held by or lor the ben.fit of L.nder In Iny capacity. without tho writton con.ont of landor. Suoco..or. and A..ign.. Subject to any limlUltion. stAtod in thl. Mortg.ge on transfer of Grantor'. interest, thI. Mortvaga ,hall bo binding upon and inure to tho ben.fit of tho Pirtle., thoir .ucc"'Or. and ...igns. If ownerol~p of tll0 Propeny become. ve.ted in . penon other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to thh¡: MortgagQ and the Indebtedness by way of forb.arance Dr axtenoion without roloasing G,anto, from tho obllgationa of thl. Mong.ge or liabiilty under the Indebtedn.... 11m. I. of the Enon.,. Tim. I. of tho 8Isoneo In tho po,formanco 01 tlti. Mortg.ge. Walv.r of Homan.ad Enmptlon. Grantor hereby relea... .nd wlive. .11 rights end benefit. of the home.1eðcf e~omptlon laws of the State of Wyoming as to .lIlndebtedn.s. aocurad by this Mortgage. DEfiNITIONS. The following word. shali have the following meanings when u58d in thi. Mortg9g0: Bortower. The word "Borrower" me.ns RITA L LAGE end CHARLES W BOYD IV and Includo. all eo·.igners and co-maker. .igning the N<rt. .nd all tholr succ...or. .nd ...igns. Environmenta1 laws. The ""Olde "E/1vironmantel Laws' moan any and all stato, federal and local st.tute., regul.tlon. ond ordinanc.. rOlating to tltO proUlction of human he.lth Dr the environment, including without "mitatlon the Comprehenslvo Envltonmont& Re.ponse. Compens.tion. and Uabillty Act of 1980, .. .m.ndad, 42 U.S.C. Sootlon 9601, ot aeq. ("CERCLA", tha Superfund Amendmento and Roau1hori..tien Aot 011986, Pub. L. No. 99·499 ¡"SARA"), the Hazardous Material. Transportoticn Act. 49 U.S.C. Seetion 1801. otaeq., tho Re.ourca Con.ervatlon Ind R.eo.very Act. 42 U.S.C. SoctIon 6901, .t ..q., or other applicable .tate or tederal laws, rule., or regulation. adopted pursuant thoroto, Event of Default. The word. 'Event of D.fault' me on any of the ovonts of default sot lorth In this Mortgage In the event. of default scctlon of this Mongage. Grantor. Tho word 'Grentor' me.ns RITA L LAGE end CHARLES W BOYD IV. ··jltl~¡¡ Jun-28-2006 01:48 PM First National Bank 091.9985 19¡¡n Ng; 784003664 MORTGAGE (Continued) Page 6 3076543623 20/23 (:00655 Gu~~nty. Th, word "Guanmty- means the guaranty from guarontor, gndoraat, aurllty, or Iccommod.dol\ party to Lender, including wiUlout limitation a guarDllty of all or part of tOo Now. H...rdou. Subotllnce.. The words "Hazardous Subcta,\CiS" maan matarial. that. becau.e of their quantity. concentration or physical, chamlcal or inf.ctio..... ch¥¡¡çteris1ic.. may aau.e or pose a present or potontJaI ha.ard to human h.oIth or the environment when improparly used, 1feeted, stored, dispol.d of, ganaratad. manu1ooturad. 1Ion.ported or otherwi.e handled. The words "11ozardous SUblton.iS" a.. us.d In thair very bro.delt sense IUId Include without Umitation any and aR hazardous or toxic;: aubetoncea, material. or wa.te as defined by or Ulted under the EnvironmanllllLÐwa. The tarm "H..ardoU8 SUbetOl1C"" also Include.. wiUlout Umitatlon, petroleum and pal/olaum by-productol O' any fflctlon thereof and ubestos, Improvamenta. Tha word "Improvements" means all existing end fUlUre improvQ/TIQf\tI;, bUlldJngs, olluctutas, moblla horn.. affixed on the Real Propeny, faclJtI.., addi1lonl, roplacamanu DIId olhar oonitruotion on the Real Property. Indebtedness. The word "Indebtedness' means all principal, Inllrast, and other ,",aunts, coal1l end expanSes peyable under the Note or Reletad Doeumenta, together with all renewels of, extenaiona of, modltlclllions of, consolidations of and .ub~ltvtlon. for the Note or Releted Documents and any emounta expandad or advancad by lander to diacharge Grantor's obllgatioruo or expenses incurrod by londar to anforca Grantor'. obllg.tions under this Mortoage, to¡¡ether with imerest on sueh amounts ... provldad In thia Mortg.ge. landar. Tho word '~der" muns FIRST NATIONAL BANK - WEST, its sueccuors and assigna. Tha words ".ucc...or. or ..signs" meen any person or company that acquires any int8last in the Note. Mortg.ge. The word "Mortga¡¡e" maans this MortgÐga between Grantor and Lend.r. Nota. The wore! "Note" means theI promissory nota datad June 26, 2006. in the original principal IImgunt gf $, 00.000.00 from Grantot to lander, tog.thor with IÖ renewals of, extension, of, modificetions of, refinancings of, eoruoo/ldatlons of, and IUbatJtutions for the promisaory note or egreement. NOTICE TO GRANTOR: THE NOTI! CONTAINS A VARIABLE INTE/IE$T RATE. Po.oonol Property. The words "Peracnel Property" mean aU cquipmant. flxturas, and othar artiel.. of per.anal property now a. h....fter owned by GrDrrtOl, and now or heraaflar .ttachod o. ,fIxed to tho Real Property; togeth.r with all accessions, parta. and additions to, oil ropl.c.menta of, Ind all substitutions for, any of such property; and togothelr with aU procaads ronoluding without limit.tion .11 ineuranoe proceeds and r.funds of promlumsl from .ny ..t. 01 other diepooition of tho Property. PIOPerty. The word "Property' moans collaetively tha Ra,ai Property .nd the P...on.1 Property. Reol P'operty. Tho word. 'Rool Property" meon the real property. IntG>rasu and righU, aa futlher de.erlbad In thl¡ Mortg.ge. R....t.d DOO1lIl1....ta. Th. word. "Related Documenua mean aU promialOtY notal. cradlt oQl'eementa, loan agreement¡, IiInvirDrunantill IgreemenU, guorantie., .aeurlty agraeman.., mortgage.. deed. of trun. security deeds, collaterel mongeges, and oil other instruments. .greem.nta and documents, whether now or hereafter existing, GXQCutad In connaotlon with tha indobtadnos.. Ront.. The word "Renu" mean, aU present end future rents. revenues, Income. ¡ssual, royaltias, pro rota, and othar benafita dar/vad from the Property. EACH GRANTOR ACKNOWLEDGES HAVING RI!AD All THI! PROVISIONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES TO iTS ~L ~ x,c..Hf.ß.~ ~YD IV INDIVIDUAL ACKNOWLEDG STATE OF 0 r~(J0 ~ COUNTY OF D escAu 1-f::.. S I IS8 ) OFFICIAL SEAL SHERYL L CASH NOTARY PUBLIC-OREGON COMMISSION NO. 402237 MY COMMISSION EXPIRES FEB, 5, 2010 'Y-"- day of On thi, day before me, tha undaralgnad Notary Pubi/ç, p...onaUy .pp."ed RITA I. LA<ìE end CHARLES W BOYD iV. to me known to be the individuaia dOloribed In end who exeouted the Mortgage, and acknowladged mat they signed tho Mongaga 01 tholr fraa and voluntary act and deed. for tha uses and purpose. thorein mantlonod. Given under my hand and official .eal1hl. By /""-- UuY\~ ,20--'!k.. Re,iding at ;:? e d ~ VI d . My commission expires F.e.. h. ~, o If?. .;;lOIC) LUf.flfO.......80Va. Ul.... O"Lh.___................1ft7.3DIII. MIII¡jItIII""--. -W'I' a:.~ltIItJQftLIUCIIJ.IG 'a1lDl' ~r"" "lliHJ, :¡~: :8:f:¡:::::~~:;~,:¡ ~':.:':I:';¡:':':':;:i;j ;::;:;:~~*~;:~;j