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Home My WebLink About920710 '··-:::;.:::~iì!ì? :,;,;,;,' ".,~ti',1"1 ",':",,' a~" 4-8~;,;d~'-~ ~lî!~'~~;;';~1!~m¡rjCi':~~: --- ~; .. ~_.- ~- -_.- _.~ 'RECEIVED 7/28/2006 at 11 :55 AM RECEIVING # 920710 BOOK: 628 PAGE: 49 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Stat. of Wyoming Spice Above This Line For Recording Dlta REAL ESTATE MORTGAGE (With Future Advance Clause) 1. DATE AND PARTIES. The date of this Mortgage is 07-25-2DD6 are 8S follows: and the parties and their addresses MORTGAGOR: TODD MOORES 11Z1lUPINElANE KEMMERER, WY 831 D1 .: ~.; o Refer to the Addendum which is attached and incorporated herein for IIdditional Mortgagors. LENDER: BUFFALO FEDERAL SAVINGS BANK ORGANIZED AND EXISTING UNDER THE LAWS OF THE UNITED STATES Of AMERICA PO BOX 1020 10B FORT STREET BUFFALO, WY 82834 2; MÖR'1'CAGE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged. and to secure the Secured Debt (hereafter definedl, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property: SEE ATTACHED EXHIBIT A ''OJ,. TH¡r-~~Qt.iNY is located in UNCOLN : '.' ..... '.,t. I'... , at LAND IN POMEROY BASIN '''', '," (, " fC~untX . (Address) (City) (Zip Code) Together with all rights, easements, appurtenan'ces, foyalties, minerai rights, oil and gas rights, crops, timber, all diversIon, payments or third party payments made to crop 'producers, and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described above (all referred to as "Property", The term Property also Includes, but Is not limited to, any and all water wells, water, ditches, reservoirs, reservoir sites and dams located on the real estate and all riparian and water rights associated with the Property, however established. , KEMMERER , Wyoming 83101 WYOMING - AGRICULTURALJCOMME"cIALREAL ESTATE SECURITY INSTRUMENT tHOT FOftFNMA,fHlIIt,FIIA Oft VA USE-AND NOT FOft COMSUMfft1UftrOSESI (peg" 1 of S) ~. ,~~ 893, 200 1 Bonko.. Syoleml.lno., St. Cloud, MN Form AGCO-RESI-WY 1/15/2003 v<J.-.II/I... :.':~ .~~,'!-::\",.~.~.., , (.:.... . ¡ \~.: . " :·~·;·!I:·'...:..:-.,.'.'.··:,. .. .,. ......" ,,!,·:"n;.;~"~!a... .:.,.'.' .'1~"i~;m:;!:~!¡'(;';;:1U\;:I¡;WV;~Jm';f::\'¡:\~., ',', '. '''''''''0°.','.'. ~.!.'.'.~.,;; ';;" . .;:-::;:;-, \"7it ,,~~; . . . . .:. ' .' '.': ~. 'I' :~; ~ . '.:.:11 '.!'-". t,::': :;,,: ;~:: ~:;: ¡;:; r;. .: ~i ,I:'; ¡ ;i;!¡1¡';t,...'¡,.,..;;t;,¡,¡,; ';[:. i I[:~illili~[~ja .·,·."·,,.....·_....·.1·.'....·,·.,,;··. "'::'<; :.::.:...;o~::O;;;'.=~.:.:.'::~:' :.:.:.:.......,'~'--......~.......;>...c~~.. ....'-.L....;....,.._...,....~......"...,.,.,,:, ~~"'~~.'i:.I.o~. '. ·'.·...I.'(';:,'..·,.;·.·~..·T..·_·.¡:..·...... ~,. .";;',',>_, ,..',t.::.::Þ'~'';':'. ~ 0920710 rOOQ50 , n 3. MAXIMl.{M ,OBLIGATION LIMIT. The total principal amoullt of the SecuredOebt (hereafter defined) secllled by this Mortgage at anyone time shall not exceed $ 176;000,00', . 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 ,a~y~n.ces(or intefe,st 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. Future advances are contemplated and, along with other future obligations, are secured by this Mortgage even though 1111 or part may not '¡(et be advanced. Nothing in this Mortgage, however, shall constitutB 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 notelsl, contract(s). guarantyliesl or other evidence of debt described below and all extensions, renewals, modifications or substitutions. (When referencing th~ debts below ir is suggested that you inclucie items such as borrowers' names and addresses, note principalllmounts, commercial revolving IOlln agrer:ment's m,a.J.lim,um amount, interest fltes, variable nlte terms, maturity dares, etc.) A COMMERCIAL NOTE IN THE NAME OF TODD :, MOORES FOR THEAMOUNT OF $176.000.00 , , ~ . ," ;""1." ~ .! :"..'~.. " ,:' '¡;):':'-~" ." : I,. B. All future advances from lender to Mortgagor or other future obligations of Mortgagor to Lender under any pÚimissory 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 debt. C. All obligatIons Mortgegor 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 between Mortgagor and Lender. O. All additional sums advanced and expenses incurred by Lender for insuring. preserving or otherwise protecting the Prdpert'y and its value and any other sums advanced end 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., Mõrtg'ågor's performance under the terms of afly' instrumant evidencing a debt by Mortgagor to Lender and any Mortgage securing, guarantying, or oth~rwlse~elating to the debt. If more than one person signs this Mortgag~' as, M0!'t~ag'o,r...øach Mortgagor agrees that this Mortgage will secure all future advances and future 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 d'ebt,to make any required disclosure about this Mortgage or it Lender fails to gIve any required notice of the right of rescission'. 5. PAYMENTS. Mortgagor agrees to malce all payments on the Secured Debt when due and in accordance With the terms of the Evidenclt of Debt or this Mortgage. 6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utjlitiè~.. ,and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies ò; 'àlf.riPtices that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor wilt defend title to',d:lìì:'Pro'perty again'st any claim, that would impair, the lien of this Mortgage. Mortgagor agrees to assign to Lender, as ..;'é'quested by Lender, any rights, ,claims, or, defenses which Mortgagor may have against parties who supply labor or mittel-ials to improve or main!ain the Property~":"i'~ ~, ,.', " 7. PRIOR SECURITY INTERESTS. With regard to any"b'ti\¡,,":mortgáge;' d'eed of trust, security agreement or other lien document th'at created a prior security Interest or encumbrance on the Property and th.t may have priority over this Mortgage, Mortgagor agrees: A. To m'øke all payments when due and to perform or comply with all COVenants. B. '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. B. DUE ON SALE 'OR ENCUMBRANCE. Lender may, at its option, declare the entire balance ot the Secured Debt to be immedïateIV,::dÙè and payable upon the creation of any lien. encumbrance, transfer, or sale, or contract for any of these on 'the Pt'9P'\h'r~< However, if the Property Includas Mortgagor's, residence, this section shall be subject to the restrictions impb~~dt:i\i'fè'deral law (12 C.F.R. 591), as ap,plicab!e., For' th'e purposes of this section,' the term ·Property" also includes aoy interest to all or any part of the PropertY:." This, covenant shall run with the Property and :shalf remain in effect untj'the Secured Debt is paid in full and this Mortgage is released. .:..:. ::. ~¡:: '::' ", ~ 11:1 1993, 2001 S.nka,. Sy.I......ln... SI. CI.ud. MN Form AGCO·RESI.WY 1/16/2003 ~ (. llt1. (pag" 2 of 8) ,.~ . -"'_,...:..a...,..........L"..,_.__.=.._....~<-> .~;.....-..~'--."-.-'----"----~..... .-...,...,.~,.....~................ ~.~.........._..~------..... ~..,.,.-'-~--.""..-'.."'-~_._.. ,..'-.... 0920710 '"00051 9. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an entity other than a natural person (such as a corporation or other organization), lender may demand ir;nmediate payment if (11 a beneficial interest in Mortgagor Is sold or transferred; (21 there Is . change In either the identity or number of membera of a partnerahip or similar entity; or 13) there Is a change In ownership of more than 25 percent of the voting stock of a corporation or similar entity, However, Lender may not demand payment in the above si1~8tloNif it Is prohibited by law as of the date of this Mortgage. . ..... 10. ENTITY WARRANTIES AND REPRESENTATIONS. If Mortgagor Is an entity other than a natural person (such as a corporation or other organization), Mortgagor makes to lender the fOllowing warranties and representations which shall be continuing as long as the Secured Debt remains outstanding: A. Mortgagor is an entity which is duly organized and varïdly existing in the Mortgagor's state of Incorporation (or orglnizationl. Mortgagor is in good standing in all states in which Mortgagor tranncts business. Mortgagor has the power and authority to own the Property and to carryon it. business as now being conducted and, as applicable, is qualified to do so in each state In which Mortgagor operates. B. The execution, delivery and performance of this Mortgage by Mortgagor and the obligation evidenced by the Evidence of Debt are within the power of Mortgagor, have been duly authorized, have received all necøssary , ' ., .. go)/er,nmental approval, and will not violate any provision of law, or order of court or governmental agency. ' "'é';"õ'tfiehhan disclosed in writing Mortgagor has not changed its name within the (ast ten years and has not used ' ""," a.ny other trade or fictitious nam.. Without Lender's prior written consent. Mortgagor does not and will not use ' -, Š;,\Î other name Bnd will preserVe Its . exiitinQ ,name. trade names and franchises until the Secured Debt is .., ; '~a~isfied. ., .. ';~:\,:;" " 11. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs 1hat are reasonably necessary. Mortgagor will give Lendør prompt notice of any Joss or damage to the PropertÝ. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor will not initiate, join in or consen'ftoåny change in any private restrictive covenant, zoning ordinance or other public or private restriction limiting or defining the uses which may be milde of the Property or any part of the Property, without Lender's prior written consent: Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor or any other owner mag. under law or regulation regarding use, ownership and occupancy of the Property. Mortgagor will comply with el/legal requirements and re$trictlons, whether public or private, with re$pect to the use of the Property. Mortgagor also agrees that the nature of the occupancy and use will not change without Lender's prior written consent. No-,porJlo,h"~f the Property will be removed, demolished or materially altered without Lender's prior written consent except Wilt .Mortgagor has the right to, remOve Item~ of ,personal property comprising a part of the Property that become worn or obsolete, provided that such personal propertY is replaced with other personal property at least equal in value to the repfai;:ed personal property, free from any 'title.' rlÌtentlon device, security agreement or other encumbrance. Such replaceMø"t of personal property will be de~med ,subject to the security interest created by this Mortgage. Mortgagor shall not partition or subdivide the Property wlthqllt ~nper's prior written consent. Lender or Lender's agents may. at lender's option, enter the Property at any reilSori~blé 'iíhié for'thè purpose of inspecting the Property. Any inspection of the Property shall be entirely for lender's benefit and Mortgagor will in no way rely on Lender's inspection. . 'C .' 12. AUTHORITY· TO PERFORM. If Mortgagor fails to perform any of Mortgagor's duties under this Mortgage, or any othør mortgage,' deed of trust, security egreement or other lien document that has priority OVer thia Mortgage, Lender may, without notice, perform the duties or cause them to be performed. Mortgagor appoints Lender as attorney in fact 10 sign Mortgagor's· name or pay any amount necessary for performance. If any construction on the Property is discontinued or not carried on in a reasonable manner, lender may do whatever is necessary to protect lender's security interest in the Property. This may include completing the construction. Lend8i'~(ríQht to perform for Mortgagor shall not create an obligation to perform, and lender's failure to perform will not prechida;r.;ender from exercising any of Lender's other rights under the Jawor this Mortgage. Any amounts paid by Lender 'fòr-insuring, preserving or otherwlsaprotecting' the Property and Lender's security intereat will be due on demand end wii(b.ur interest from the date of the ,peyr¡'1~nt"until paii! Ìli full at tha interest rate in effect from time to time according to the terms of the Evidence of Debt. ",-_.,~"", .' , , . : . . :..J;' f. ~~ I {'..~'.. '._.. 0:. . . 13. ASSIGNMENT OF LEASES AND RENTS. Mortgagor '·;ssig'~s,' grants, bargains, conveys, mortgages and warrants to lender lIS additional security all the right, title and interest in the fOllowing (Property). A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use . and occupancy of the Property, Including but not limited to, any extensions, renewals, modifications or re'placements (Leases). B. Rents, Issues Bnd profits, Including but not limited to, security deposits, minimum rents, percentage renta, ' additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, °Joss of rents~ Insurance, gunt receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, , .. and all rights and claims which Mortgagor may have that in any way pertain to or are on account of the use or ' '>.: ôt¢Llpancy of the whole or any part of the Property (Rentsl. In the'êv¡Ún any item listed as Leases or Rer¡ts I,sdé.termined t~ be personal property, this Assignment will elso be regardedasa security agreement. '., .,:, ;: '; " I: , , -¡; L fl1 (peg. 3 of 8J ~. "1893. 2001 Bonko,. SVII.ml, In... SI, Cloud. MN· For", AG,CO:",ESJ:W'i', 1/1 8/2003 - :::::¡:::::::::::;:;:i::: :::£~::~;::::!:~:;;: ..=-......,.~...~''''-'.".'"''";.'=.'''..:..<..&..;..'''........~-.....-,.''-<..;<,.....,_.......:......J..........................~..,..,_-'""'_"".'~'""'"'--'~""''''''''''''_''''''''.'--,..-.-,- ...,_.....,.._,._.~~~.'-"'-......~~_.._....""'....._..........~...,,.=--"-...,...,................._..__................> 0920710 .... :,....,...; ., '.~ ¡- >¡ .... . . ~.. .'~' . . " , . rOonS2 Mortgagor will promptly provide Lender with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be provided on execution of the Assignment, and' all of the future Leeses and any other information with respect to these LeaBBs will be provided immediately after they are executed. Mortgagor may col/ect, receive, enjoy and use the Rents so long lIS Mortgagor is not in default. Mortgagor wUl 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 not commingle tha Rents with any other funds. When Lender 50 directs, Mortgagor wifl endorse and deliver any payments of Rents from tha Property to Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of managing, protecting and praserving the Property, and other neCe:ssary expenses. Mortgagor agrees that this Security Instrument is immediately effective between Mortgagor and Lander. This Security Instrument will remain effective during any statutory redemption period until the Secured Debts ar~·~.tisfied. Unless otherwise prohibited or prescribed by stata law, Mortgagor agrees that Lender may take actual pO$session of the Property without the neCessity of commencing any legal action or proceeding. Mortgagor agrees thllt actuill 'possession of the Property is deemed.loocc.ur when Lender notifies Mortgagor of Mortgagor's default and demandsthlit 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 igrees that either Lender or Mortgagor mllY immediately notify the tenants and demand that 1111 future Rents be paid directly to Lender. As long as this Assignment is in effect, Mortgagor warrants and represents that no defau't 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 111/ other parties to the Leases to comply with tha Leases and Bny applicable law. If Mortgagor or any pllrty to the LeISe defaults or fails to observe any applicable law, Mortgagor will promptly notify Lender. If Mortgagor neglects or refuses to enforce complianca 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,.oYthe Leases (unless the Leases so require) without Lender's consent. Mortgagor will not assign, compromise, 'subç¡rdin'ijte'oJ encumber the Leases and Rents with!lut'Lender's prior written 'consent. Lender does not assume or become liable· Jor the Property's maintenance, depreciation, ,or other losses or damages when Lender acts to manage, protect' or preserve the Property. except for . losses ¡änd damages due to Lender's gross negligence or intentional torts. Olherwise, Mortgagor will indemnify Lender, end ho/d"Lender harmless for al/ liabilitv, loss or damage that Lender may incur when lender opts to exercise any of its- remèdiè's'¡agaiflst-,'anyparty obligated under the Leases. 14. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. f the Property includes a unit in 8 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. 15. 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; B. A breach of any term or covenant In this Mortgage. any prior mortgage or any construction loan agraement. security agreement or any other document evidencing, guarantying, securing or otherwise relating to the Secured Debt¡ C.', ,Th~:making or furnishing of any verbal or written representation. statement or warranty to Lender that is false or . 'inc.crrect in any material respect by Mortgagor or any person or entity obligated on the Secured Debt; o. The ,death, dissolution, or Insolvency of, appointment of a receiver for, or application of any debtor relief law to, Mortgagor or any person or entity obligated oI'\Ahe,SecuredDabt; E. A good faith belief by Lender at any time ,that.Lender-isinsecure with respect to any person or entity obligated on the Secured Debt or that the prospect of anY'p,aymentis-iinpaired or the value of the Property is Impaired; F. A material adverse change in Mortgegor's business including ownership, management, and financial conditions, which Lender in its opinion believes Impairs the value of the Property or repayment of the Secured Debt; or G. Any loan proceeds ere 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 7 C,F.R. Part 1940, Subpart G, Exhibit M, 16. REMEDIES ON DEFAULT. In some Instances, federal and state law will require Lender to provide Mortgagor with notice of the right to cure, mediation notices or other nOlicas and may establish time schadules 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 theoptìon of Lendar, 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 e default or anytime thereafter; In addition, Lendar shall be entitlad to all.'thè',r.emediesprovided by law, the Evidence of Debt, other evidences of debt. this 'Mortgage and any related documèntr'~including withoutlimiiatlon,' the. power to sell the Property. All remedies are distinct, cumulative and not exclusive; '8í'ld;'th,&"tender_, is entitled to all remedies provided 8t 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 belance is due or is acceleflted or Ifter foreclosure proceadings are filed shall not constitute a waiver of Lender's right to require ful/ and comprete cure of any existing default. By not"exercising ahy remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default If It continues or happens again. ~M C 19'93, 2001 Bonh,. Sy...m., Inc.. 51, Clo.., /.IN FOrni AGCO-RESI.WV 111812003 n~ Ipllgll 4 of 8) , . . .'.,.".............",'-'..' ,...... .'" -",. ,-.......-'-~..~:"'-'............"""'H:'........' ,'- ..c....:.,~, ,.....~..-~_..., ,.. .,-..,-'------...........-~, ..~"""__'_.~-'~.,..-_ C-'-._____·,__. . ,--~~..........< ,......,,-....~_.._. "--. 092071.0 , "'~' :'J0053 17. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohIbited by law, Mortgagor agreel to PlY all of lender's expenses if Mortgagor breaches any covenant in this Mortgage. Mortgagor will also pay on demand all of Lender'. expen... incurred in collecting. insuring, preeerving or protecting the Property or in Iny inventories, audits, inspections or other examination by Lender In respect to the Property. Mortgagor agrees to pay all costs and expenses Incurred by Lender in enforcing or protecting Lender's rights and remedies under thts Mortgage, including, but not limitød to, attorneys' fen, court COSU, and other legal expenses. Once the Secured Debt is fully and finally paid, Lender agrees to release this Mortglge and Mortgagor agrees to pay for Iny recordatIon costs. AU such Imounts are due on demand and will bear interest from the time of the advance at the highest rate in effect, from time to time, as provided In thø Evidencø of Debt and as permitted by law. 18. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental Law" means, wlthout'limitation, the Comprehensive Environmental Response, Compensation and Liability Act ICERCLA, 42 U,S,C, 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interprlltive letters concerning the public health,. safety, welfare, environment or a hlllardous substance; and (2) aHazardous Substance a means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," -hazardous waste" or -hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that, except 81 previously disclosed and acknowledged in writing: . A.No Hazardous Substance has been, is, or will be located, transported, mønuflctured, treated, refined, or handled by:any person on, under or about the Property, except In the ordinary course of business and in strict compliance with all applicable Environmental Law. B. Mortgagor has not end will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. c. Mortgagor will immediately notify Lender if (11 e release or threatened release of Hazardous Substance occurs on, under or about the ~roperty or migrates or threetens to migrate from nearby property; or (2) there is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial : '.: 'j:; :,(sctfofdn 'accordance with Environmental Law. ;D;.Mortgagor has no knowledge of or reason to believe there is any pending or threatened Investigation, claim, or , "proceeding of any kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) .any violation by Mortgagor or any tenant of;¡.ny.Envfronmental Law. Mortgagor will immediately notify Lender in writing as soon ar Mortgagor has reason to believe the.re is any such pending or threatened investigation, claim, 'or proceeding. In such an event, Lender has the right. but not the obligation, to participate in any such proceeding including the right to receive copies of Bny'documentuelating to such proceedings. E. Màrtgagor and every tenant have been, are and shall remain in full 'compliance with any applicable Environmental Law; . F. There are no underground storage tanks, private dumps or open wells located 'on or under the Property and no such tank, dump or well will be added unless lender first consents In writing. G. Mortgagor will regularly inspect the Property. monitor the activities and operations on the Property, and confirm thllt all permits, IIcllnsesor approvals required by any applicable Environmental Law are obtained and complied with. H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all røcords It any reasonable time to determine (1) the existence, location 'and nature of any Hazardo!s Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any . Ma:iardous Substance that has been released on, under or about the Property; or (3) whether or not Mortgagor IInd'any tenant are in compliance with applicable Environmental Law. I; :Upon Lender's request and at anytime, Mortgagor agrees, at Mortgagor's expense, to engage a qualified environmental engineer to prepare an environml!ntalaudit of the Property and to submit the results of such audit to! Len.der. The choice of the environmental engineer who will perform such audit is subject to Lender's approval. J. lender has the right, but not the obligation,·'toJ)erform any of Mortgagor's obligations under this section at Mortgagor's expense. ··'·0'·.:..··,. \... " : ' .' . K. As a consequence of any breach of any representation, warranty or promise made In this section, (1) Mortgagor will indemnify and hold Lender and Lender's successors or assigns harmless from and against III losses, claims, demands, liabilities, damages, cleanup, response Ind 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) a.t Lender'. discretion, lender may release this Mortgage and in return Mortgagor will provida Lender' with collateral of at least equal value to the Property secured by this Mortgage without prejudice to any of lender's rights under this Mortgage. L. Notwithstanding any of the languaga contained in this Mortgage to the contrary, the terms of this section shall survive any foraclosure or satisfaction of this Mortgage regardless of any passage of title to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the contrary are hereby waived. .·ii.'1 :t ~ ~. 18. CONDEMNATION. Mortgagor will give Lender prompt notice of any action, real or threatened, by private or public entitiesi:tocpurchase or take any or all of the Property, including any easements, through condemnation, eminent domain, or any other means. Mortgagor further egrees to notify, lender of any proceedings instituted for the establishment of any sewer, water, conservation, ditch, drainage, or other¡.dlstrict relating· to or binding upon the Property or any part of it. Mortgagor. authorizes Lender to intervene in_-,Mortgagar's:'name-inany of the above described actions or claims and to collect and receive all sums resulting from the action or claim. Mortgagor assigns to lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds shall be considered payments and will be applied IS provided in this Mortgage. This assignment. of proceeds is subject to the terms of,anyprior mortgege, deed of trust, security agreement or other lien document. ~.. 01993; 2001 Bonk." Sv...m..lnc.. Sr. Cloud. MN Form AGCO·RESI-WV 1/18/2003 7 L M (page 5 of 8) ·i,.': .._ t::;::r::::::::::~::::~ lli!lliffi~~~:::~3 :~~m~mI~mmm;~ir ·"""'·~"''''·''1.····-''··'·-''·'-''''''''-<-·-''=:''O''-~""''-'-''':.:a&...:'''"",,,,",,-'..L.:-..L.::.:..c4_ _.._c.~_;"""_~'_"'_' ' ..... ,.._...--'L&.tI---............ '-'-................;~'-'~..-.:...--:_-~-- , ' . ",. -,-,....-'.........:.....:.:. ~ 'C. 092071.0 ," 00054 20. INSURANCE. Mortgagor agrees to maintain insurance as follows: A. Mortgagor shall keep the Property insured against loss by fir~, theft and other hazards and risks reasonably associated with the Property due to its type and locatIon. Other hazards and risks may include, for example, coVerage against loss due to floods or fiooding. This insurance shalf be maintained in the amounts 'lnd for the plÚiods that Lender requires. What Lender 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 \nre,Uonably withheld. If Mortgagor fails to maintain the coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property according to the terms of this Mortgllge. ' All insurance policies end renewals shalf be acceptable to Lender and shalf include a standard "mortgage clause" and, where applicable, "lender loss payee clause.· Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. Lender shalf have the right to hold the policies and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices, Upon loss, Mortgagor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediately by Mortgagor. Unless Lender and Mortgagor otherwise agree' in writing, insurance proceeds shall be applied to restoration or repair of the Property damøged if the restoration or repair is economically feasible end Lender's security is not les$en'ed. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the' Secured Debt, whether or not then due, with any excess paid to Moltgagor.lf Mortgagor abendons the Prope/':tY'; or'does not Ìlnswer within 30'days a notice from Lender that the insurance carrier has offered to settle I claim/then Lender may collect the inillurance proc8edill. Lender may use the proceeds to repaIr or restore the Property or to pay the Secured Debt whether or not then dUe. The 30-day period will begin when the notice is given. Unless Lender and Mortgagor otherwise agree in writing, Bny application of proceeds to principal shall not extend or· þostpone the due date of scheduled payments or change the amount of the payments. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. B. Mortgagor agrees to maintain comprehensive generalliabitity insurance naming Lender as an additional insured in an"amount acceptable to Lender, insuring against claims arising from any accident or OCcurrence in or on the Property. C. MÒrtgagor agrees to maintain rental loss or business Interruption insurance, as 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 sep~r8teJy in writing], under a form of policy ilCceptable to Lender. . " /.' . \ ,0:: ~ " 21. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor wHl not be required to pay to Lender funds for taxes and insurance in escrow. 22, FINANCIAL REPORTS AND ADDITIONAL 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 be, accurate, correct, and complete. Mortgagoragrees to sign, deliver, and file as Lender may reasonably request any additiona' documents or certifications that lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Mortgage and Lender's lien status on the Property. If Mortgagor fails to do so, Lender may sign, deliver, and file such documents or certificates in Mortgagor's name and Mortgegorhéreby irrevocably appoints Lender or Lender's agent IS attorney in fact to do the things necessary to comply with this"section. .~O(, , 23. JOINT AND1NDIVIDUAlllABllITY; CO.SIGNERS;SUCCESSORS AND ASSIGNS B.OUND. All duties under this Mortgage are joint and'lndividual. If Mortgagor signs this Mo.rtgage'bÜt does hOt sign the Evidence ,of Debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. Mortgagor agrees that Lender and any party to this Mortgage may extend, modify or make any change In the terms of this Mortgage or the Evidence of Debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Mortgage. The duties and benefits of this Mortgage shall bind and benefit the successors and assigns of Mortgagor and Lender. If this Mortgage secures a guaranty between Lender and Mortgagor and does not directly secure the obligatIon which Is guarantied, Mortg¡¡gor agrees to waive eny rights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation including, but not limited to, anti-deficiency or one-action Jaws. '.' ï ' ',' , ~ ~, sn. 2001 Bonk... Svo....... Inc.. 8.. Cloud, MN F~'", :"GC~~ESI'WV, 111112003 " ,~. " . (pagB 6 01 8J TLIyt, '" ..... ;'. .... ~"'-....' ..""".-'......""-.:. "... -;":_""~-~':":...~..:c~u.:.o.:o.;.-...!l.~.:.....:...o' ".~' ., , ....~.c.,;:->:::L.'-~.:.,-'_:-.:~~,"-."....,=.~::. :,¡ -'::"'-'J...--.L-'-:""_"':~"':~'~"'_a:.......,,--,.__.>_, "",",.:...,-~....:.~.~.....,.~~~!"",;....:=.-.s.,_,,.;;;:.._:...:..;:~,. ~1.:.I."""'''''''''_'~~_'c..c.::..:.....! ...c"...:<..ot,'~';'~;L".:_...:':r: 0920710 ~00055 24. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Mortgage is governed by the Jaw. of the jurisdiction in which Lender Is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is (ocated. Thi. Mortgege i. complete end fully Integrated. This Mortgage mey not be emended or modified by oral agreement. Any section or cleuse in this Mortgage, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not ba effective, unless that law expressly or Impliedly permits the variations by written agreement. If any section or clause of this Mortgage cannot be enforced according to its terms, that section or clause will be severed and will not affect the enforceability of the remainder of this Mortgage. Whenever used, the singular shall include the plural and the plural the singular. The captIons and headings of the sections of this Mortgage are for convenience only end ere not to be used to interpret or define the terms of this Mortgage. Time is of the essence In this Mortgage. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering It or by mailing it by first class mail to the appropriate pany's eddress on pege 1 of this Mortgage, or to any other address designated in writing. Notice to one mortgagor will be deamed to be notice to all mortgagors. 26. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any right regluding the marshalling of lians and assets and all homestead exemption rights relating to the Property. 27. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Mortgage: . ¡ I . , q,Cqnatruction Loan. This Mortgage secures an obligation incurred for the construction of an Improvement on the ' ,-,p,operty. , , ", '0 Fixture Filing. Mortgagor grants to Lender e, security Interest in III goods that Mortgagor owns now or in the füfure and that Ire or will become fbcturesrehited to,the Property, ". -' :·'.1 (;.' .:. .. tJ Crops; Timber; Mineral.; Rents, Issue. and Profit,. Mortgagor grants to Lender a security interest in all crops, timber and minerels loclted on the Property as well as all rents, issues, and profits of them including, but not limited to, all Conservation Reserve Program (CRPI and Payment in Kind (PIKI payments and similar governmental Programs (all of which shall also be included in the term "Property"l. o P.riona' Property. Mortgagor grants to Lender a security interest in an personal property located on or connected with the Property. This security intarest Includes all farm products, Inventory, equipment, accounts. documents, instruments, chattel paper, generel intangibles, and all other items of personal property Mortgagor aWns now or in the fùture and that Ire used or useful in the construction. ownership, operation, management, or maintenance of the Property. The term "personal property" specifically excludes that property described as "household goods" s.¡'cured in connection with a "consumer" loan as those terms are defined in applicable federal regulations g'ov,erning unfeir end deceptive credit practices. ,D.Flling A. Financing Statement. Mortgagor agrees and acknowledges that 'this Mortgage also 3ufflces as a fioancing statement and as such, mav be filed, øf record as a financing datement for purposes of Article 9 of the Unrf~rm Commercial Code, A carbon, phot'i!~~a'p~ic, Image or other reproduction 01 this Mortgage is sufficient as \I financing statement. _'.! f' :" i;:" 28. OTHER TERMS. If checked, the fol!owing are applicable to this Mortgage: o Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balence, this Mongage will remain in effeèt until released. o Separate Assignment. The Mortgagor has executed or will execute a separate assignment of leases and rents, If the separate auignment of leases and rents is properly executed and recorded, then the separate assignment will supersede this Security Instrument's" Assignment of Leases and Rents" section. o Addltionel Terms. ~., ,c 1993, 200 I Bonk... sv.tlm., Inc.. SL Cllud, '-IN Fo"" AGCO-RES/.WY 1/15/2003 -rLh¡\.. (piffle 7 of 81 .. m;f*~!:jf::i*~1~ UiliNi~r.::':I;f:': ¡~{ili~f.~}~~~ . :~:;~:~Y.'~¡'~I~X~ I::.:f~~l~':j:::::, t~'~'~'~tMt~~f.'_' .·..'....."LI..to:!o.~...~,::.,··~"',""...""..:c~,,,..-...~~-&~.,;.1. ': '. .~.:.-_.:..:.~.~.:~.:.=-..1i~_ ''''.. .r:...4.d.:"".....~.i..."... . .~~.~~..:~.~.:-~\.::~_., ';'.'.',' -.J.:,,~,t,l¡Ü~'~L·~!.!).·:"-:·":":'~'·"·\':¡:··';',-k.,;t.·,·.,~~!I.!,~.o:,¡:".;.,'i'. 0920710 C00056 SIGNATURES: By signing below, Mortgagor igrees 'tl),'the, t!!rms, and covenants contained in this Mortgage and in any attachments. Mortgagor also acknowledges receiPtór~C~?Y.o.f ~~is Mortgage on the date stated above on Page 1. o Actual authority was granted to the parties signing below by resolution signed and dated Enllty Nama: ~ 1.l\v~ <l-1 (SlgnotureltODD MDORES IDall' (Signatura¡ ICale) «Signature), " (o'¡~ai¡: ; , ¡Signalure' .....,.;...: i. _. ICatel o Refer to the Addendum which is attached and incorporated herein for additional Mortgagors, signature! and acknowledgments, ACKNOWLEDGMENT: } ss. flnd6vkl",.U Dðö~o ~ . ,'. '~of '1.JIcØI STATE OF ,COUNTY OF This 'instrument was acknowledged b.for. me this by day of } ~s. lawinl.. .,. En~'f A.l&nwwl.4111111ItfttJ 'of 8 My commission expires: (trtlersu (Nlme Df Bu.inea. Dr Enti1YI on behalf of the business or entity. (NDlaty Public) -.S ..' , , , , .. ..!..,~,.. ~ 0,1993.2001 B.nkors Sya'ama, 'nc., 51, Cloud, MN Form AGCO·RESI-WY 1/1112003 (page 8 of 8} ,.,,,...'_..... ...........,: .~,'."<.:.o.....,'__.-<='-..:.........~.~._,~,.~...,,.::.._~,.'~_-"_--'-".,_,..;......:.=""""".:..:..~ ....--&-~~'-,'- "-"-'-"':"=~"--o....:....o-''''''''''''''''''''''''''''"'-"-*''-C'''.:.:.I."'':_'...,--..' ~.."""'''..'''''''''l''''''''''''''~'.."" ...'... :'...'.....L·....·,·. 0920710 00057 Ex~ibit A Parccl. 1 The Northeast Quarter of the Southeast Quarter bfSection 19, of the resurvey ofT22N R] 15W of the 61h P.M.. Lincoln County, Wyoming ¡ LESS AND EXCEPT the land contamed in WmaIúy Deed r~ordcd July 8, 1936 in Book 20 of Deeds on page 194 of the records of the Lincoln: County Clerk. ~" ;:.: j; -: ; ~ ALSO LESS AND EXCEPT the land dcscrib~ 9n Wwanty Deed recorded February 13. 1996 in Book 380PR on pagll 203 of the records of the Lincoln County ClerJe. I I The Northwest Quarter of the Southwest Q~ and the South one-half of the Southwest Quarter of Section 20, of the resurvey of T22N RllSW of the 6111 P.M., Lincoln Coun~, Wyoming, LESS AND E:XCBPTthc land conta.Ï11ed in Wmanty Deed~ecorded October 20, 1992 in Book 193PR on page 281'oftherecords oftbe Linco1n County C1ttk! ALSO, LESS AND EXCEPT the land COt1tain¿~ in Warranty Deed recorded July 8, 1936 in Book 20 QßJJeeds on page 194 of the rt~ords of the Uncóln county Clerk. , '".:" ' I rl~T1_;' ' '. ,:,. ALSO, LESS AND EXCEPT the following dc:sqribed land: , :" . AA :that portion of the N orthcast Quarter ~f 14~ $outheast Quartcr of Section 19 of the Resurvey of mN Rl15W north ofthc prc.scntly ~ist:iDg,J1ohh rigbt of way boundary of U.S. HighwiY ) 89 except that partic:ular parcel ofland pœviously eonve~ to Thomas P. Ea.vlsy and Michele A. Easley as recorded in Book 31!OÞR on pago 203 OJ) file in -(he Lin.coIn County Clerk's Office in Kemmerer, Wyç>nUng.. . ,.\ . . L~SS AND EXCEPT from the land in Sections iI9 and 20 the following descn"bed land: A parcel ofland being part of the Northw(StQ~ of the Southwest Quarter of Section 20 of the resurvey cifT22N Rll5W of the 61h P.M., Lincoln County, Wyoming and being more particularly ~rs¡9@.ed as follows: " . I I B.~gi@ing a.t the West one-quarter comer Qfsaid SectÎo1120 of the resurvey ofT22N RllSW of the 6111 P¡.M;'. Lincoln County, Wyoming whuqislqui1,c;i a Jtonemonument; thence N 89°59'] 6" E. 1312.29 fe:Ctto the C-W 1/16 comer cfuid Sectiqri),O.,'(!I,h;cre i!,fonnd a 3" dia.rnctu atuminum cap on 2 W' diarnCter aluminum pipe stamped CÖ..,PELS-54;6S.C"W, 1116,S 20, 2006" set this survey; thence: S 0"06'39" E, 628.6 feet, more or JC!!. to: appoiJ1t on the north right of way boundary ofD.S. Hi¡hway 1119. Said point being a point on a curve to the right of the north right of way 'boundary of said highway and being monumcntcd by arebarfwith <ùuminum cap set this sarvey; théncesouthwesterly along the said highway and being monumentcd by a rebar with aluminum. cap set for this survey; . . thence southwesterly along the said northerly rigbt of way boundary of said U.S. Highway 189, Z,9J.A4fl;!et along the are of said CUIVe to the right to a point on the CUlVß. Said point being munummted by a rcbar with aluminum cap set tþr this survey. Said curve [0 the: right having a radius o~~11'9;7feet and a chord of26 1.39 .fèet which,1;IearsS 72D54'56" W; .. .... ~'. : ~ .. ':. ~ ¡. ",' ,. ' ... ~!iiilim~ """.~~'-'''''~~'£c:.o:.~~;'''..:.>:oJ.~~._"._",_., ..---'-.!._.....,.:_.""'...::<-'·...'"~'.....l.. ..'c" ~~ ~ .'-.L::.~/'-~~~.."--,OJ._._.~..-__"". -,"'--~~=...............................:.....,~.~,-:o.,....,',......~ ...........-..."'.....~....."",.~....:..'-'-..__.4..'.._,.._0-.....&:.LL;k~....:...... 0920710 (.0.0058 th~pcc N 0"06'39" W. along a, line offset 250:0P feet west and parallel to the càst boundary line of . såid Northwest Quarter of said Seetion 20, a. ~çe of 475.36 feet to a. point wht:r¡: is found a rcbar with aluminum ca.p set for this survey; thence S 89°59'16" W, along a Jineoffsct 230:00 feet south and parallel to the cast-west centerline of said Section 20 bearing S 0"03'27" E. 2403:43 ;COt distant and being monumented with a stone; thence N 0"08'27" W, along the west boundary.line of said Section 20, 230.00 feet to the point of beginning. Parcel 2 ; T22N Rl16W oftha 6th P.M., Lincoln County, Wyoming Section 11: Lots 7, 10 and 15 of Segregated 14 62 Section II: Lots 4 and 19 S,ççtiøn14: Lots 5,7 and 8 :·4·~" '" " -:..'" -' ·~:'·.f!! '; .... '~.' :..t.;:; '.~.: . ~, . , :_ I ~. . ' , ' /