HomeMy WebLinkAbout921295
~7@~~~!~~i~~r:1
~;:,'i\~ !i~,~i;,1i~~i¡,;:,:H{H~
";·;;;'f"Ô0305
RECORDATJON REQUESTED BY:
First Bank Df .Idaho i5b
FIrst Bank Df .Idaho 'fsb, .Illia FIrst Bank Df ~ TetDns
170.E. Broadw.ay
P.O.BDX 12860
.Jackson, WY B3002 ,~
WHEN RECORDED MAll TO:
First Bank lJf .Idaho i5b
FirstBank Df .Idaho fsh, .Illia FIrst Bank Df 'the 'T JttDns
170.E.Brnadw.ay
P.O. Box 12860
.Jackson, WY B3002
RECEIVED B/1512DD6:at 1:51 PM
RECEIVING:# 921295
BOOK: £30 PAGE: 305
JEANNE WAGNER
LINCOLN COUNTY c.J.ERK, KEM~, WY
.BEND TAX NOTJCES TD:
FIrst Bank Df .Idaho "fsh
FirstBank Df .ldaho"fsh, Dba FIrst Bank Df'theJetDns
170.E.13rnadw.ay
P.D.Box 12860
.Jackson, WY B3002
SPACE ABOVETtilS LINE IS 'fOR fŒCOROER'S USE ONi Y
'7,
,VI
MORTGAGE
THIS MORTGAGE .dated August 1D, 2DD6, is made .Bnd -eJœcuted .between ~EfFREY TIBBITTS, 1'1 sinyle man
(r-eferred 1:0 :below .as "GrBntor")J:md HrstBank of Idaho isb , whose Bddress is 17D E BrDBdwBY,P.O. Box 12B6D,
-IBckson, WY B3DD2 (nderred 1:0 below 1'IS ".lender").
.GRANT OF MORTGAGE. FDr I/ilJuabIe 1:onsirler.ation, Grantor mortgages.Bnd .J:Dnveys ~Lender BII Df Erantor's right, -:title, Bn.d inter£St in .anD-ro
'the following .DescribeD Ti!al pwperty, -rogether with BII i!xisting Dr subsequently 'f!recteD Dr .affixeD buildings, impwvements BnD fixruri!s; BII
-Ðil5Bments, Tights Df WBY, BnD Bppurti!n.anœs; BII w.Bter, wBter rights, wBter.cDurses Bn.d .ditch ri,ghts (iocluDing stDck in .l1!ilities with .ditch Dr
irrÎflHtÌDn Tights); BnD BII Dther rights, TDyalties, BnD prDfits relmin,g -ro 'the Ti!al pwperty, including withnut limitation' BII minefBJs, Dil, gas,
geotheJ'TTJBIBnD similarrturtters, (the "Real Property") located in .Lincoln .county, State of Wyominy:
Lot 7 in ..leon .Livingston Subdivision, in 'Township 37 North, Range 1113 West, 6th P.M., .Lincoln County,
Wyominy. SBid pJB1:of said subdivision.as recorded m me .county of .Lincoln, State of Wyominy
The Real Property or its .itddress is commonly known.as Lot 7 .leon Ljvinyston Subdivision, Alpine, WY B312B.
The Real Property 'taX identification number is 371131B406054DD.
.Eæntor presently BSSÎflOS -ro Lender BII Df EfBntor's TÎflht, -:title, BnD intefBst in Bnd "to BII presem Bn.d iutuŒ leases Df'the Pmperty BnD BII Rents
imm'the PrDpeTty. JnBd.ditiDn, ETBntor ,gfBnts 1:0 .lender B UnifDrm .cDmmen:ia1 .cmle security inteŒst in 'the Pi!rsDn.a1 Pmperty .anD Rents.
JtilS MORTGAGE, lNCWDING THE ASSIGNMENT OF RENTs AND THE l>ECURITY Jill J±tit:S I IN THE RENTI> AND P.ERSONAL PHDP.ERTY, JS
.GIVEN 'TD l>ECUHE {AI PAYMENT DFTHE INDEBTEDNESS AND jB) PERFORMANCE OF ANY AND AU DBJJGATJDNS UNDER 'THE NOTE,
THE f!ELA"JE) DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE, INCWDING THE ASSIGNMENT DF BENTS AND THE SECURITY
JNTEREST IN THE fŒNTS AND P.ERSONAL PRDP.ERTY, IS ALSO GIVEN 'TO SECURE ANY AND AU DF GRAIIITOR'S DBJJGA'TJDNS UNDER
TtiA'T r:ERTAIN I:ONSTRUCTION l.DAN AGREEMENT BETWEEN GRANTDR AND l.ENDER OF.EVEN DATI -HEHEWlTti. ANY.EVENT DF
DEFAULT UNDER 'THE I:ONSTRUCTJDN l.DAN AGREEMENT, DR ANY DF 'THEf!ELA"JE) DOCUMENTS'HEÆfmED TO THEBEIN, .5HAU AL50
.BE AN :EVENT DF DEFAULT lJNDER'TtfIS MORTGAGE. JtfIS MORTGAGE IS GIVEN AND ACCEP'JE) DN'THE FDLLDWJNG JERMS:
PAYMENT AND PERFORMANCE. .EXCi!pt BS otherwise pmvideD in 'this MDrtgBge, Gæntor shall +>BY ~ .lender .all BmDUnts SeClJri!D by 'this
MDrtgage BS 'they .be.come .Due BnD shall strictly perfDrm BII Df Eæntor's DbIÎflBtÎDos .under "this MDrtgage.
POSSESSION AND MAII'IJ1J:N,ANCE OF 'THE PROPEITY. .ETBntor .%I,gri3f!s 'that Eæntor's PDssessÎDn Bnd .use Df "the Pmperty shall be governer:Jby
'"the iDIIDwing pmvisioos:
PD55eSSmn .ilnd Use. 'until 'the .nr:.curreOCi! Df Bn .Event Df Default, GfBntor may (1) Œmain in pDSSessiDn BnD .cDmml Df'the Pmperty; !.2)
.use, .Dper.ate Dr manage 'the Pmperty; BnD (31 'cDllect "the Rents 'fmm 'the PrDperty,
DJrty ~ Maintain. GfBntor shall maintain "the PrDperty in gDDD 1:Dn.ditÎDn BnD pmmptly perfDrm BII Ti!pairs, fBpJi3C'f!ments, .anD mainten.ance
ne.c-essary 1:0 pri!serve its vBlue.
I:Dmpliance With .EmfimnJJ1Ðntal1.Bws. Eæntor TBpresents BnD WBrrBnts -ro LenDer1:mn: (1) During 'the perÎDd Di GfBntor's ownership Di
'the Pmperty, "there TIas :been nD .use, genefBtÎDn, 1l'1Bnuiactuœ, stmage, 1:ri!iltment, .dispDSBI, ŒleBse Dr1:hrim!eneD Ti!leBse Di Bny +fazar.dDus
.5ubstBnci! by Bny person Dn, .under, .BÌJDut Dr irDm 'the ~mperty; (2) Gæmor 'has no knDwleDge Df, Dr ri!BSDn "to .believe 'that "theri! has
:been, i!XDept BS pri!vjOJJSly .disclDseD -ro BnD .ackT1DWIeDgeD by J.ænDer in writing, (a) Bny bri!ach Dr violation Df Bny Envimnmental Law.s,
(b) .any .use, genefBtion, manufacture, stofBge, "tfBDtment, .dispDSal, Œlease ur'thr-eateneD Œlease Df Bny tißzarDous .5ubstBoci! Dn, .under,
.BÌJPl1! DrirDm 'the Pmperty by Bny priDr Dwners Dr DCC1JpBnts Di'the Pmperty, lJr (c) Bny B.ctuBllJr'thr-eateneD litig¡niDn or .claims.Di Bny
kinD by Bny persDn Ti!lBting 1:0 such rturtters; BnD (3) .Exc'f!pt.BS pri!viDUsly .discJDseD-ro BnD BcknDwle.dgeD by Lender in writing, (B) neither
GfBntor nor Bny1Ðn.ant, .cDntr.B.ctDr, Bgent Dr other B1J1:hDr.i2eD user Df'"the PrDperty shaU .use, genefBti!, mafUJfactuŒ, store, "tri!at, .dispose .Df
.Dr fBlease Bny tißzar.dD.us .5ubstBnc'f! Dn, under, MDl1! Dr irDm "the Pmperty; BnD (b) Bny such BCtivity shall .be .cOMUcteD in .complmnce
with Bit BppliCBbIe ff!.der.al, :state, BnD 1=1 .laws, Ti!,gUlatiDOS BM .Dr.din.anœs, ii1cludin,g withnut limitation BII.Envimnmental Law.s. .Gæntur
BUtlmrizes Lender BnD its il.!Jf!nts 1:0 'f!nter .llpDn'the Pmperty 1:0 make suci1 iospe.ctiDos BnD 1Ðsts, .Bt Eæntor's 'f!X )eose, .BS .len.der may .deem
.%Ippmprjpte1:o .determine 'cDmpJmOCi! Df'the PmpeTty with 'this sectÌDn Df "the MDrtgBge. Any iOSpectiDOS m 1Ðsts made DY .lender shall :be
"fur Lender's pUTpD5eS lJnly BM shaU nnt.be 'cDn5tr.ued 1:0 ,CfBBte Bny Ti!Spoosibility Dr liability Dn'the part Df LenDer 1:0 EfBntor m1:o Bny :nther
persDn. "The Ti!pæsen!BtiDns BnD w.ammties .cDntained heri!in Bri! based Dn .Grilntor's .due .Diligence in investigating "the Pmperty for
+fazar.dDllS.5JJbstBOCi!S, .EfBntor hefBby (1) ri!leases BnD wBives .any iutuΠ'claims Bgainst .lender fur indemnity Dr .cDntribution in 'the
'f!vent .GfBntor becDmes .liable im 1:leanup.Dr Dther 'cDsts.under Bny .such laws; BnD (2) Bgff!eS 1:0 in.demnify, .Defend, .and hDld harmless
.lender .%Igainst Bny BnD .a1l1:laims, IDSSes, Jiabilities, .damages, pen.alties, BnD 'f!X )eoses whi.ch Lender may Diri!ctly Df inDirectly sustain Dr
.suffer T-eSlJlting irDm B br-each Df'this sectiDn Df "the MDrtgage Dr BS .a t:Dnser¡uenci! Df Bny use, genefBtiDn, manuiacture, stDfBge, .rJispDsal,
Ti!leBse Dr'thr-eatenen releBse .DCcurring prim -ro GfBntDr'S Dwnership Dr interi!st in "the 'PrDperty, whether Dr nnt'the .5i3me was Dr shuuld
have:been kT1DWO "to EfBntor. 'The pwvisÎDns Df'this sectiDn Df'the MDrtgilge, incfw: ing1:he DbligatiDn 1:0 inDemnify BnD Defen.d, shall.survive
'the payment Di'the In.debterJness .anD 'the .satisi.actiDn.Bn.d recDnveyance Df'the Jien Df "this MDrtgage Bn.d shall nDt.be .affecteD by.lender's
BcquisitiDn nJ:Bny Ìnteri!st in 'the PrDperty, whether by iDri!clDS.uri! lJr .Dtherwise.
I 'I
NWsance, W~. EfBntor shaU nnt 1:BJJSe, 'cDruiur:t Dr permit Bny nillsanœ T1Dr 'cDmmit, permit, Dr .suifi!r Bny stripping Df Dr Wi!5te .Dn Dr 1:0
'"the 'Pr.operty br Bny pDrtÎDn Df"the PfDperty. Withnut limitin,g "the Bèneælity Df"the"fDr'f!gDing, GfBntor will nntri!Tl1Dve, Dr gfBnt-ro Bny other
:party1:he T~~-ro Ti!move, .%Iny"1:imber, minefBls (iociuJjing.DiI BnD gas), =1, 'clay, sCDrÏB, soil, grBvel Dr TDck prD.ducts withOJJtLender's priDf
WT'Îtten 1:DT1Sfjm.
'BBlDDval m ~rDlfBrmmts. Grantor shallnnt œmDlish Dr Ti!Tl1DV£! Bny JmpTDvements irDm 'the Re.al PrDperty withDut.lender's prÎDr written
1:DTI5ent:" As, ,jB .c.onDitÎDn ~ 'the Ti!Tl1DVBI Df Bny JmpTDvements, .lenDer may Ti!quiŒ .ETBnror -ro make .aITBngements satisfactory -ro .lender 1:0
replaci! 3JJChhnpTDvemems with JmpTDvemertts Df Bt least -eqlJBl v.aJue.
I 'I
l.Ðnrler'.s ~ 1:D 1:nter. J.ænder BnD .lender's il.!Jf!rtts BnD Ti!presen!Btivesmay 'f!mer upDn 'the ReilIPrnperty .at .all r-eaSDn.ab1e "times -ro :attenD
w.lend!Jr'.s interests Bn.d -ro inspect "the Reill Pmperty fDr ~uTpD5eS Df .Er.antor's .cmnplmnci! with "'the 1Ðrms Bn.d .conditiDns Df "this MDrtgage.
I:nmplial'1De with .Governmental ~uirements. GTBmDr shall pTDmpj:ly .c.omply with Blllaws, Drrlin.aoci!s, Bnd ri!gulmiDns, now Df heæBfter
in 'f!ffe.ct,Di .all governmental BUthDrities BppJicabJe 1:0 "the .use l)f Dc.cupancy Df'the Pwperty. EfBntor may .cDnteS1 in BODD faith Bny such
law, DrrlinaOCi!, .Dr ægulmiDn Bnd withhDld .cD1nplianci! .during Bny pm.c-eeDing, including BPPfDpriBte Bp¡JeaJs, so IDng BS EfBntDr has nntifieD
.lender in writing ~riDr-ro .dving so BnD SD JDng BS, in LenDer's 'SDIe lJpiniDn, .lender's inteæsts in "the 'PfDperty Bri! nnt jeOpar.dizeD, .len.der
may T-eqµiri! EfBntm-ro post BrieqJJBte security Dr B SUH!ty D.DM, TeasDn.ably sBtisfB.ctDrY1:o.lenDer, "to PfDtectLem:ler's interi!st,
Duty ~ PrDtect. .Grantor .Bgr-ees neither -ro .BbaMDn l)f .Jeave .unattendeD 'the Property. GTBntor shall .DD BIf Dther Bcts, in BrlditiDn -ro "thuse
09~12S5
MORTGAGE
(Continued)
000306
PBge 2
.LoBn No: 494022155
BCts set forth Bbove in this section, which from 1he charBcter Bnd use of the Property Bre reBsonBbly necessBry to protect Bnd pH!SerVe 1he
Property.
CONSTRUCTION LOAN. If some Dr BII of the proceeds of 1he fOBn creBting the Indebtedness Bre to be used to construct or complete
construction of Bny Improvements on the Property, the Improvements shall be completed no IBter 1han 1he mBturity dBte of 1he Note (or such
earlier .date BS lender ITUIY rBilsonBblyestBblish) Bnd GrBntor shall pBy in full BII costs Bnd expenses in connection with 1he work, .Lender will
disburse JOBn proceeds under such terms Bnd conditions BS lender TTUlY deem rBilsonably necessary to insure 1hat 1he interest created by this
Mortgage shBII have priority over BII possible liens, including 1hose of material suppliers Bnd workmen. lender may require, Bmong other 1hings,
1hat disbursement requests be supported by receipted bills, expense Bffidavits, wBivers of liens, construction progress reports, .and such other
.documentation BS .Lender ITUIY reasoTUlbly request,
DUE ON SALE - CONSENT BY .LENDER. Lender TTUlY, Bt .Lender's .option, .declBre immediztely due Bnd payable BII sums secureD by 1his
Mortgage upon 1he sale .or 1ransfer, with.out Lender's prior written c.onsent, of BII Dr Bny part of the Real Property, Dr Bny interest in 1he Real
Property, A "sale or trBnsfer" meBns the conveYBnce of Real Property .or Bny right, 1itle Dr interest in 1he Real Property; whether legal, beneficial
Dr equitable; whether voluntary Dr involuntary; whether by outright sale, Deed, instBllment sale contrBct, land contract, contract for Deed,
leBsehold interest with B term greBter than three (3) years, IeBse-option contrBct, Dr by sale, lISsignment, Dr trBnsfer of Bny beneficìBI interest in
Dr 10 Bny IBnd trust holding title to 1he Real Property, .or by Bny .other method of conveYBnce .of Bn interest in 1he Real Property. -However, 1his
.option shall not be exerciseD by lender if .such exercise is prohibited by federBI law .or by Wyoming Jaw.
I AXES AND .LIENS. The f.ollowing provisiens relating to 1he taxes Bnd liens .on the Property Bre part of this Mortgage:
PByment. GrBntor shall PBY when Due (Bnd in BII events prior to delinquency) Blltaxes, payroll taxes, special taxes, Bssessments, wBter
charges BnD sewer service charges levieD BgBinst Dr on Bccount .of the Property, BnD shall PBY when due BII cJaims for work done .on Dr for
services rendered Dr TTUlterial furnished to the Property. GrBntor shall TTUlintain the Property free .of Bny liens having priority .over .or equBlto
the interest.of Lender under1his Mortgage, except for those liens specifically Bgreed to in writing by .LenDer, Bnd except forthe lien of taxes
Bnd Bssessments not .due BS further specifieD in the Right to Contest plIrBgrBph.
Right to C.ontest. GrBntor mBY withhold payment of Bny tax, .assessment, or cJaim in connection with B geod fBith .dispute over the
obligation to pay, se long lIS Lender's interest in the Pr.operty is not jeopardizeD. If B lien Brises Dr is filed BS B result of nonpayment,
Grantor shall within fifteen (15) .days Bfter the lien Brises Dr, if B lien is filed, within fifteen (15) .days Bfter GrBntor has notice of 1he filing,
secure the .discharge of 1he lien, Dr if requested by LenDer, deposit with Lender cash or B sufficient corporate surety bond or other security
sBtisfBctory to Lender in Bn .amount sufficient to .discharge the lien plus Bny costs Bnd reBsonable .anorneys' fees, or .other charges that
coulD .accr.ue BS .a result of B forecl.osure Dr sale under the lien. In .any contest, Gr.antor shall DefenD itself ßnd Lender .and ShBII satisfy Bny
Bdverse judgment before enforcement Bgainst 1he Property. Gr.antor shall TUlme Lender .as .an .additional obligee :unDer .any surety bond
furnished in the contest proceedings.
Evidence .of PByment, GrBntor shall upon Demand furnish to LenDer satisfBctory evidence of pByment of 1he taxes Dr assessments Bnd shall
.authorize the Bppropriate governmental official to Deliver to Lender .at ßny time .a written statement of the taxes Bnd Bssessments BgBinst
the Property.
Notice of C.onstruction. Grßntor shall notify Lender .at leBst fifteen (15) .days before Bny w.ork is commenceD, Bny services .are furnisheD, Dr
.any mBterials .are supplied to the Property, if .any mechanic's lien, TrulteriaJmen's lien, .or .other lien could be .asserted on .account of 1he
work, services, Dr m.aterials. GrBntor will up.on œquest of lender furnish to Lender .advBnce .assUrBnces satisfBctory 1.0 Lender 1hat GrBntor
CBn .and will pay the cost.of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating te insuring the Property Bre B part of this Mortgage:
MBinterumce .of Insur.ance. GrBntor shall procure Bnd TTUlintain policies of fire insurance with stBnDard extendeD coverage endorsements on
B replBcement b.asis for the full insur.abJe value covering .all Improvements .on 1he Real Property in Bn .am.ount sufficient to .avoiD .appfiCBtion
of Bny coinsurBnce clBuse,.and with B stBndarD mortgagee c1Buse in fßVDr .of Lender. Policies shall be written by such insurance companies
.and in such form .as TTUlY be reasonably Bcceptable to .Lender. Gr.ant.or shall .deliver 1.0 .Lender certificBtes of cover.age from each insurer
containing.a stipulBtion 1hat cover.age will not be cBncelled Dr .diminished without B minimum of fifteen (15) Days' prior written notice te
.Lender .and not c.ontaining .any .discJaimer .of1he insurer's liability for fBilure 10 give such notice. Each insurBnce policy also shall include.an
en.dorsement provi.ding that coverBge in favor of .Lender will not be impaired in .any way by Bny .act, .omission or default of GrBntor or ßny
other persen, Should the Real Property be 10cBted in Bn .areB .desigTUlted by 1he Director of 1he feder.al Emergency MBTUlgement Agency BS
.a special flood hazarD .area, GrBntor Bgrees to .obtain Bnd maintain federßI flood Insur.ance, if BVBilable, within 45 days after notice is given
by lenDer that the Property is 10CBted in B SpeCiBI flood hazarD BreB, for 1he full unpaid principal balBnce of the 10Bn Bnd Bny prior liens on
the property securing the IDBn, up to the maximum policy limits set under the Natienal flood InsurBnce ProgrBm, or BS otherwise required by
Lender, Bnd to TTUlintain such insurBnce for the term of the I.oBn.
AppliCBtion .of Proceeds. GrBntor shall promptly notify lender of Bny loss Dr .dBTTUlge te the Property. lender may TTUlke proef of loss if
GrBntor fBils to .de so within fifteen (15) Days of the cßsualty. Whether Dr not .Lender's security is impBired, .Lender may, Bt lender's
ejection, receive Bnd retain the proceeDs of ßny insurBnee ßnd Bpply the proceeds to 1he reDuction of 1he Indebtedness, payment of .any lien
Bffecting the Property, Dr the restoTßtion Bnd repair of the Property. If lender elects te Bpply 1he proceeds to restormien Bnd repair, Grantor
shall repair .or replBce the .dBlTUlged Dr destroyed Improvements in B TTUlnner satisfBctory te .Lender. .Lender shall, upon satisfBCtory proof of
such expenditure, plIy Dr reimburse GrBntor from the proceeds for the rBilsonable cost of repBir .or restoTßtion if GrBntor is net in default
under this MortgBge. Any procee.ds which have not been disbursed within 1BO .days .after 1heir receipt Bnd which Lender has not
committed to the repair .or restorBtion of the Property shall be .use.d first t.o PBY Bny Bmount owing 10 .Lender under this Mortgage, 1hen 10
pay Bccrued interest, Bnd the relTUlinder, if Bny, shall be Bpplied te the principal balBnce .of 1he InDebte.dness, If .Lender holds .any proceeds
Bfter payment in full .of the Indebtedness, such proceeds shall be plIid to GrBntor BS GrBntor's interests may .appear.
.LENDER·S EXPENDITURES. If GTßntor fßils (A) te keep 1he Property free .of BII taxes, liens, security interests, encumbrBnces, Bnd .other claims,
(B) to provide Bny required insurance on 1he PTDperty,.or (C) 'to TTUlke repairs to the PTDperty then Lender ITUIY .de se. If Bny Bctien or
proceeding is commenced that would m.aterially Bffect Lender's interests in the Property, 1hen Lender .on GTßnter's behalf ITUIY, but is not
required 'to, take Bny Bcti.on that Lender believes to be .appropriate to protect LenDer's interests. All expenses incurred .or pBiD by .Lender f.or
such purposes will1hen beiir interest.at 1he rBte charged under the Note fr.om 1he .dBte incurred or pBid by LenDer to 1he .date of repayment by
GTßntor. All such expenses will become B pBrt of the Indebtedness BnD, Bt Lender's .option, will (A) be paYBble on delTUlnd; (B) be Bdded 10
1he balanee of the Note Bnd be Bpportione.d Bm.ong Bnd be pBy.able with Bny installment plIyments to become .due during either (1) 1he 1erm .of
Bny BppliCBble insurBnce policy;.or (2) the reTTUlining term of the Note;.or (C) be treBteD BS B bBlleon payment which will be due Bnd payable
Bt the Note's TTUltUrity. The M.ortgage Blso will secure payment of these Bmounts. The rights provided f.or in 1his paTßgTßph shall be in Bddition
10 Bny .other rights .or Bny remedies te which Lender mBY be entitled .on Bccount .of Bny .defBult. Any such Bction by LenDer shall not be
construed BS .curing 1he .defßult so BS to bar Lender from Bny remedy 1hat it otherwise woulD have haD.
WARRANTY; DEfENSE OfTlT.LE. lhe following pTDvisions relBting 'to .ownership of the PTDperty Bre B plIrt of this MortgBge:
Iitle. GrBntor WBrTßnts that: (a) GrBntor hoWs good Bnd marketable title of record to 1he Property in fee simple, iree .and clear of BII liens
Bnd encumbrBoces other 1han those set forth in the Real Property.description or in Bny 1itle insur.ance pelicy, 1itle report, .or fiTUlI title opinion
issueD in fBvor .of, Bnd Bccepted by, lender in connection with this Mortgage, Bnd (b) GrBntor has the full right, power, ßnd Buthority 10
execute Bnd .deliver this Mortgage 10 lender.
Defense of Title. Subject 10 the exception in the parBgrBph Bbove, GrBntor warTßnts Bnd will f.orever .defend 1he 1itle to 1he Property BgBinst
the lawfulclBims .of BII persons. In the event Bny Bction Dr proceeding is c.ommenced 1hat r¡uestions Grantor's title .or 1he interest.of Lender
under this Mortgage, GTßntor shall .defend 1he Bction .at GrBntor's expense. GrBntor ITUIY be 1he nomiTUlI party in such proceeding, but
lenDer shall be entitled to participBte in the proceeding Bnd te be represented in the proceeding by counsel of Lender's own choice, Bnd
Grantor will .deliver, Dr CBUSe 'to be .delivered, 1.0 Lender such instruments BS Lender ITUIY request from time 1.0 time 10 permit such
participBtion.
Compliance With .laws. GTßnter WBrTBnts that 1he Property .and GrBntor's .use of the Property c.omplies with BII existing Bpplicßble IBws,
.or.diTUlnces, .and regulBtions .of governmental Buthorities.
SurvivBl.of Promises. All promises, Bgreements, Bnd statements GrBntor has TTUlde in 1his Mortgage shall survive the execution .and Delivery
of 1his MortgBge, shall be continuing in nature Bnd shall relTUlin in iull force Bnd effect until such 1ime BS GTßnter's IndebteDness is paiD in
full.
CONDEMNATION. The i.ollowing provisions relating to condemnation proceeDings Bre B part of this MortgBge:
Proceedings. If Bny procee.ding in condemnation is filed, Grßntor shall promptly notify Lender in writing, Bnd GTßnter shall promptly take
~;i;;:':¡:':<';':':'~(:1
,,':i;¡:i-;':+:';'i':'~""
i!" '.-'-ò ,0.-' ,'-, ':' ," :' ,~
mj¡;m;;~;;~~i~~:~¡
~~~
,¿;/
:.i;:;:*:~~;::::::;::
M6ttn~AGE
(Continued)
;.);ii~~~;;:¡ii;.:·:"
0921.295
.Loan No: 494022155
000307
Page 3
such steps BS may be necessary to .defend 1:he Bction Bnd obtain 1:he BWBrd. GrBntor may be the nominal party in such prnceeding, but
.Lender shall be entitled to participBte in "the prnceeding Bnd 1:0 be represented in the proceeding by counsel of its own choice, Bnd GrBntor
will deliver or CBuse to be .delivered to Lender such instruments Bnd documentation BS may be requested by Lender frnm 1:ime 1:0 time to
permit such participation.
App iClltion of Net Procee.ds. If BII or Bny pBrt of the Property is condemned by f!minent domain prnceedings or by Bny prncf!eding or
purchBse in lieu of condemrunion, .Lender may Bt its election require thBt all or Bny portion of the net proceeds of the Bward be Bpplied 1:0
the Indebtedness or the repair or restoration of the Prnperty. The net prnceeds of 1:he Bward shall mean the award Bfter payment of all
reasonable costs, f!xpenses, Bnd Bttorneys' fees incurred by .Lender in connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAl AUTHORITJES. The following prnvisions relating to governmental "taxes,
ff!es Bnd chBrges Bre B part of 1:his Mortgage:
Current TBxes, Fees .and ChBrges. Upon request by .Lender, BrBntor shBlI f!xecute such documents in Bddition to 1:his Mortgage Bnd take
whatever other .action is requested by Lender to perfect Bnd continue Lender's lien on the Real Property. GrBntor shall rf!imburse ..Lender for
.all taxes, as .described below, together with all f!xpenses incurred in rf!cording, perfecting or continuing this Mortgage, including without
limitation Blltaxes, fees, .documentary stamps, .and other chBrges for recording or registering this Mortgage.
T.axes. The following shall constitute taxes 1:0 which this section .applies: (1) B specific tax upon this type of Mortgage Dr upon BII or Bny
part of the Indebtedness .secured by this Mortgage; (2) .a specific tax on Grantor which GrBntor is Buthorized or required to .deduct frnm
payments on the Indebtedness secured by 1:his 1:ype of Mortgage; (3) a tax on 1:his 1:ype of Mortgage chargeable .against the ..Lender or the
holder of 1:he Note; .and (4) B specific tax on BII or Bny portion of the Indebtedness or on payments of principal and interest made by
BrBntor. '
Subsequent T.axes. If Bny tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the
same effect BS Bn Event of DefBult, and Ümder may f!xercise Bny or BII of its BVBilabJe remedies for Bn Event of DefBult BS prnvided below
unless GrBntor f!ither (1) pays the tax before it becomes delinquent, or (2) contests 1:he tax BS prnvided Bbove in the 'TBxes Bnd Liens
section Bnd .deposits with .Lf!nder c.ash Dr B sufficient corporate surety bond or other security satisfBctory to Lf!nder.
SECURITY AGREEMENT; FINANCING STA'TEMENTS. The following prnvisions relBting to 1:his Mortgage as a security .agreement .are B pBrt of
'this Mortgage:
Security Agreement. 'This instrument shall constitute B Security Agreement to the extent any of the Prnperty constitutes fixtures, .and
Lender shall have BII of the rights of B secured party under the Uniform Commercial Code BS Bmended frnm time to time.
Security Interest. Upon request by Lender, Grantor shall take whatever Bction is requested by .Lender 1:0 perfect'Bnd continue .Lender's
security interf!st in the Personal Prnperty. In Bddition to Œcording this Mortgage in the real property records, Lender may, Bt .any time .and
without further ButhorizBtion frnm Grantor, file executed counterparts, copies or reprnductions of 1:his Mortgage BS a financing statement.
Grantor shall Œimburse Len.der for BII f!xpenses incurred in perfecting or continuing this security interest. Upon .defilUlt, Gnmtor shBlI not
remove, sever Dr detach the Personal Prnperty frnm the Property. Upon .defBult, GrBntor shBlI BssembJe Bny Personal Prnperty not affixed
to the Prnperty in B manner .and .at B place reBsonably convenient 1:0 GrBntor Bnd Lf!nder Bnd make it Bvailable 1:0 Lender within three (3)
.days Bfter receipt of written .demand frnm .Lender to the f!xtent permitted by applicable Jaw.
Addresses. The mailing .addresses of Grantor (debtor) Bnd .Lender (secured party) frnm which information concerning the security interest
granted by this MortgBge may be nbtained (each BS Œquired by the Uniform Commercial Code) Bre BS stated on the first page of this
Mortgage.
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following prnvisions relating to further BSSUrBnces Bnd .attorney-in-fBct Bre B part of this
Mortgage:
fJJrther Assul'ilnces. At Bnytime, Bnd frnm time to 1:ime, upon request of .Lender, GrBntor will make, execute Bnd .deliver, Dr will cause to
be made, f!xecuted or .delivere.d, 1:0 .Lender or to .Lender's .designee, Bnd when requested by .Lender, cause 1:0 be filed, recorded, refiled, or
rerecorded, BS 1:he CBse may be, Bt such times Bnd in such offices Bnd places.as Lender may deem apprnprjate, Bny Bnd BII such mortgages,
.deeds of trust, security .deeds, security Bgrf!ements, financing statements, l:ontinuation statements, instruments of further BSSUrBnce,
certifiClltes, Bnd other .documents BS may, in the sole opinion of .Lender, be necessary or .desir.able in order to f!ffectuBte, complete, perfect,
continue, or preserve (1) GrBntor's obligations under the Note, 1:his MortgBge, Bnd the Related Documents, Bnd (2) 1:he liens Bnd
security interf!sts creBted bY1:his Mortgage BS first Bnd prior liens on 1:he Prnperty, whether now owned or hereBfter acquired by GrBntor,
Unless prohibited by IBW or .Lender Bgrees to 1:he contrBry in writing, GrBntor shBlI reimburse Lender for BII costs Bnd -expenses incurr-ed in
connection with 1:he m.atters r-eferred 1:0 in this parBgraph,
Attorney·in-fBct. If GrBntor fails 1:0 .do Bny of the things r-eferred to in 1:he pŒceding paragraph, .Lender may do so for and in the name of
Grantor and Bt GrBntor's f!xpense. for such purposes, GrBntor hereby irrevoCllbly Bppoints Len.der BS GrBntor's .attorney-in-fact for the
purpose of making, executing, .delivering, filing, recording, Bnd .doing BII other 1:hings BS may be necess.ary or .d-esirable, in Lender's sole
opinion, to Bccomplish the matters referr-ed to in the preceding parBgr.aph.
fUll PERFORMANCE. If GrBntor pays illI the Indebte.dness when .due, Bnd otherwise performs .all the obligations impos-ed upon GrBntor und-er
"this Mortgage, L-ender shall -execute .and .deliver to Gnmtor B suitable satisfaction of this Mortgage Bnd suitable statements of termination of any
financing statement on file evidencing L-ender's security inteŒst in 1:he Rents ilnd 1:he Personal Prnperty. Grantor will pay, if permitted by
.applicable law, Bny reasonable termination fee as .determined by L-ender frnm 1:ime to time.
EVENTS DF DEFAULT. At .Lender's option, GrBntor will be in default under this Mortgage if any of the following happen:
Payment Default. GrBntor fails to make Bny payment when .due under the Indebtedness.
DefBult on Other Payments. failure of Grantor within "the time required by this Mortgage 1:0 make any payment for taxes or insurance, or
any other payment Mc-essary to pŒvent filing of or 1:0 -effect discharge of ilny lien.
Break Other Promises. Grantor breaks ilny promise made to .Lender or fails to perform promptly Bt 1:he 1:ime and strictly in 1:he manner
provide.d in "this Mortgage or in Bny Bgreement related to 1:his Mortgage.
DefBult in fBvor of Third PBrties. Should Grantor defBult under Bny loan, -extension of cr-edit, security agr-eement, purchase or sales
Bgreement, or any other .agreement, in fBvor of any other creditor or person 1:hat may materially Bffect Bny of Grantor's property or
GrBntor's .ability to repay 1he Indebtedness or Grantor's Bbility to perform Grantor's obligations under this Mortgage or Bny related
.document.
FBlse Statements. Any r-epresentation or statement made or furnished to .Lender by Grantor or on Grantor's behBlf under 1:his Mortgage or
the RelBted Documents is fBlse or misleading in Bny material respect, -either now or Bt 1:he time made or furnished,
Defective CollaterBlizBtion. This Mortgage or Bny of the Related Documents ceBses to be in full force Bnd -effect (including failure of Bny
collateral.document to cr-eate B vBlid .and perfected security interest or lien) Bt Bny 1:ime Bnd for Bny reason.
Death or Insolvency. 'The death of Grantor, 1:he insolvem;y of GrBntor, 1:he Bppointmem of a receiver for Bny part of Gramor's prnperty, Bny
Bssignment for 1:he benefit of creditors, .any type of creditor workout, or the commencement of Bny prnceeding under .any bankruptcy or
insolvency Jaws by or Bgainst Grantor.
TBking of 'the Property. Any cr-editor or governmental agency 1:ries to tak-e Bny of "the Property or Bny other of Grantor's property in which
Ümder has a lien. This includes taking of, garnishing of or levying on GrBntor's BCCOUnts with Lender. How-ever, if Grantor .disputes in
good fBith whether the claim on which the taking of 1:he Property is based is valid or reBsonable, Bnd if Grantor gives L-ender written notice
of 1:he claim .and furnishes .Lender with monies or iI SUff!ty bond satisfBctory to .Lender to satisfy the claim, 1:hen 1:his .default provision will
not Bpply.
Breach of Other Agreement. Any breach by GrBntor under the terms of Bny other agff!ement between Grantor and .Lender that is not
reme.died within .any ,grace period provided therein, including without limitation Bny Bgreement conc-erning any indebtedness or other
obligation of Gr.antor to .Lender, whether f!xisting now or lat-er.
Events Affecting Guarantor. Any of 1:he preceding events occurs with ff!spect to ilny gUBrBntor, -endorser, sur-ety, or .accommodation party
of any of 1he Indebtedness or Bny guarantor, endorser, surety, or Bccommodation party .dies or becomes incompetent, or revok-es or
disputes 1:he vBlidityof, or liability under, Bny GuarBnty of the Indebtedness, In 1:he -event of B death, L-ender, at its option, may, but shall
not be ff!quired 1:0, permit the guarantor's i!state to Bssume unconditionally 1:he obligations Brising under 'the guarBnty in a manner
satisfBctory 1:0 L-ender, .and, in .doing .so, cur-e Bny Event of Def.ault.
09~1.295
l.oan No: 494022155
MORTGAGE
(Continued)
000308
Page 4
Jnsecurity. .lender in good faith believes itself insecure.
Right 10 Cure. If any default, other1han a .default in paymem is curable and if Gramor has not been given a notice of a breach of The same
provision of this Mortgage within The preceding Twelve (12J months, it may be cured if Grantor, after receiving written notice from .Lender
demanding cure of such .default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more 1han fifteen (15) days,
immediately initiates steps which .lender .deems in .Lender's sole discretion to be sufficient to cure The .default and thereafter continues and
completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
RIGHTS AND REMEDIES DN DEFAULT. Upon the occurrence of an Event of Default and at any time thereafter, .lender, at .Lender's option, may
flxercise anyone or more of The following rights and reme.dies, in addition to any other rights or remedies provided by law:
Accelerate Indebtedness. .lender shall have The right at its option without notice to Grantor to declilre The entire Indebtedness immediately
due and payable, including any prepayment penalty which Grantor would be required to pay.
UCC Remedies. With respect to all or any part of the Personal Property, .lender shall have all the rights and remedies of a secured party
under1:he Uniform Commercial Code.
Collect Rents. .Lender shall have The right, without noticfl to Grantor, to Take possession of the Property, including during the pendency of
foreclosure, whether judicial or non-judicial, and collect the Rents, inclu.ding amounts past due and unpaid, and apply the net proceeds, over
and Bbove .Lender's costs, against the Indebtedness. In furtherance of this right, .Lender may require any Tenant or other user of the
Property to make payments of rent or use fees directly to .lender. If the Rents are collected by .Lender, 1hen Grantor irrevocably designates
.Lender as Grantor's attorney-in-fact to flndorse instruments received in payment thereof in the name of Grantor Bnd to negotiate the same
and collect the proceeds. Payments by tenants or other users to .lender in response to .Len.der's .demand shall satisfy the obligations for
which the payments are made, whether or not Bny proper grounds for the demand existed. .len.der may exercise its rights under This
subparagraph either in person, by agent, or through a receiver.
Appoint Receiver. .lender shall have the right to have a receiver appointed to take possession of all or any part of The Property, with The
power to protect and preserve The Property, to operate the Property preceding foreclosure or sale, and TO collect the Rents from The
Property and lIpply the proceeds, over and .above the cost of The receivership, against the Indebtedness, The receiver may serve without
bon.d if permitted by IiIw. .lender's right TO the appointment of a receiver shall exist whether or not the apparent value of the Property
fJxceeds the Indebtedness by a substantial amount. Employment by .LfJnder shall not disqualify a person from serving as a recfJivfJr.
.Judicial Foreclosure. .lender may obtain a judicial decree foreclosing Grantor's imerest in all or lIny part of the Property.
Nonjudicial Sale. .lender may foreclose Grantor's interest in all or in any part of the Property by non-judicial sale, lIn9 specifically by "power
of sale" or "advertisemem and sale" forfJclosure as provided by statute. .
Deficiency.Judgment. If permitted by applicabl~ IiIw, .Lender may obtain a judgment for any deficiency remaining in The Indebtedness due
to .Lender Bfter application of all amounts rfJceived from the -exercise of the rights provided in this section.
Tenancy at Sufferllnce. If Grantor remains in possession of the Property after The Property is sold as proviœd above or Lender otherwise
becomes entitled to possession of the Property upon .default of Grantor, Grantor shall become a tenant at sufferance of .Lender or the
purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable r-ental for the use of the Property, or (2) vacate The
Property immediately upon the demand of .L-ender.
Dther Remedies. .L-ender shall have all other rights and remedies provided in This Mortgage or the Note or available at IiIw Dr in flquity.
Sale of the Property. To the extent permitted by applicable Jaw, Grantor hereby waives any and all right to have the Property marshalled,
In -exercising its rights and remedies, .Lender shall be free to sell all or Bny part of the Property together or separately, in one sale or by
separate sales. .lender shall be entitled to bid at any public sale on all or any portion of the Property.
Notice of Sale. .lender will give Grantor reasonable notice of The time and plilce of any public sale of the Personal Property or of the time
after which any private sale or other intended disposition of the Personal Property is to be made, Reasonable notice shall mean notice
given at Jeast ten (1 DJ .days before the time of the sale or disposition, Any sale of the Personal Property may be made in conjunction with
any sale of the Real Property.
Election of Remedies. All of .Lender's rights and r-emedies will be cumulative and may be exercised alone or together. An election by
.lender to choose anyone remedy will not bar .Lender from using any other remedy. If .Lender decides to spend money or to perform any of
Grantor's obligations under this Mortgage, after Grantor's failurfl to do so, that decision by .Lender will not affect .Lender's right to declarfJ
Grantor in default and to exercise Ü¡nder's remedies.
Attorneys' Fees; Expenses. If .Lender institutes any suit or action to enforce any of The terms of this Mortgage, .Lender shall be -entitled to
recover such sum as the court may adjudge reasonable as lIttorneys' fees at trial and upon any appeal. Whether or not any court action is
involved, and to the extent not prohibited by Jaw, all reasonable expenses .Lender incurs 1hat in .L-ender's opinion are necessary at any Time
for the protection of its interest or the flnforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
interfJst lit the Note rate from the date of the -expenditure until repaid. Expenses covered by This paragraph include, without limitation,
however subject to lIny limits under applicable Jaw, Lender's reasonable attorneys' fees and .L-ender's legal expenses whether or not there is
B lawsuit, including rflasonable attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any
Butomatic stay or injunction), lIppeals, and any lInticipated post-judgment collection services, the cost of ssarching records, obtaining Title
reports (including foreclosure reports), surveyors' reports, and appraisal fees and title insurance, to The extsnt permitted by applicable Jaw.
Grantor also will pay any court .costs, in addition 10 all other sums provided by Jaw.
NDTICES. Any notice required TO be given under this Mortgage, including without limitation any notics of default and any notice of sale shall be
givsn in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise require.d by Jaw), when
deposited with II nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, .as first class, csrtified or
Œgistered mail postage prepaid, directe.d TO the addresses shown near the beginning of This Mortgags. All copies of noticss of foreclosure from
~he holdsr of any Jien which has priority over This Mortgage shall be sent to .Lender's address, as shown near The beginning of this Mortgage.
Any person may change his or her address for notices under This Mortgage by giving formal written notice to The other person or persons,
specifying that 1he purposs of the notice is to change The person's address. for notics purposes, Grantor lIgfi~es TO keep Lender informed at all
Times of Grantor's current lIddress. Unless otherwise provided or required by Jaw, if there is more than one Grantor, any notics given by .lender
10 any Grantor is deemed to be notice given to all Gr.antors. It will be Grantor's responsibility to Tell the othsrs of the notice from .Lsnder.
MJSCELLANEDUS PROVJSIONS. The following miscellaneous provisions are a part of this Mortgage:
Amendments. What is written in This Mortgage and in The Related Documents is Grantor's emire agreement with .Lender concerning The
matters covered by trus Mortgage. To be effective, any change or .amendment TO this Mortgage must be in writing and must be signed by
whoever will be bound or obligated by The change or amendment.
Caption Headings. Caption headings in this Mortgage ars for convenience purposes only and are not to be used to interpret or de fins The
provisions of this Mortgage.
Governing J...aw. This Mortgage will be governed by federal Jaw applicable 10 .Lender and, 10 the extent not preempted by federal law , the
laws of the State of Wyoming without regard to its J:onflicts of Jaw provisions. This Mortgage has been lIccepted by .lender in the State of
Wyoming.
No Waiver by .Lender. Grantor lJnderstands .lender will not give up any of Lender's rights under this Mortgage unless lender does so in
writing. The fact1hat .Lender delays or omits to flxercise any right will not mean that .Lender has given up that right. If .Lsnder .does agres
in writing to give up one of .Len.der's rights, that does not mean Grantor will not have to comply with the other provisions of this Mortgage.
Grantor also lJnderstands That if .Lender does consent to a request, that .does not mean that Grantor will not have TO gst .Lender's consent
again if the situation happens again, Grantor further understands that just because .lender consents TO one or more of Grantor's requests,
1:hat does not mean .lender will be Œquired 10 consent 1:0 lIny of Grantor's flJturs requests. Grantor waives presentment, demand for
payment, protest, and notice of dishonor. Grllntor waivss all rights of exemption from execution or similar law in the Property, and Grantor
lIgrfles that the rights of .Lender in the Property under This Mortgage are prior to Gramor's rights while This Mortgage remains in "8ffect.
Severability. If a court finds That any provision of this Mortgage is not valid or shoul.d not be snforcsd, That fact by itself will not mean that
The rest of This Mortgage will not be valid or enforced, Therefore, a court will -enforce the ŒSt of the provisions of this Mortgage flven if a
provision of1his Mortgage may be found to be invalid Dr lJnenforceable.
Merger. There shall be no merger of The interest or -estate created by 1his Mortgage with any other interest or -estats in the Property at any
Time held by or for the benefit of .Lsnder in any capacity, without The written consent of .lender.
œm~iil~;f;fi?:':'j
~1." "-JJ'r-
09<. ' r...J'_)
~¡!~¡I:f¡;¡;t~!¡¡;;:
MOR'T'GAGE
(Continued)
000309
Loan No: 494022155
Plige 5
Successors lInd Assigns. Subject to lIny limitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be binding
upon .and inure 1'0 the benefit of the parties, their successors and .assigns. If ownership of the Property becomes vested in .a person other
than Grantor,lender, without notice to Grantor, may !leal with Grantor's successors with reference to this Mortgage and the Indebtedness
by way of forbeararu:e or extension without releasing Grantor from the obligations of this Mortgage or liability under the Indebtedness,
lime is of the Essence. lime is of the essence in the performance of this Mortgage.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights .and benefits of the homestead exemption Jaws of the State
of Wyoming as to.all Indebtedness secured by this Mortgage.
DEFINITIONS. The following words shall have the following meanings when used in this Mortgage:
Borrower. The word "Borrower" means Jeffrey Tibbitts and includes .all co-signers .and co-makers signing 1he Note and .all their successors
and .assigns.
Environmental.Laws. The words "Environmental Laws" mean .any and all state, federal and local statutes, regulations .and ordinances
relating to 1he protection of human health or the environment, including without limitation the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended, -42 U.S.C. Section 5601, et seq, ("CERCLA"), the Superfund Amendments and
Reauthorization Act of 1586, Pub. L No. 99-499 ("SARA"),1he Hazardous Materials Transportation Act, -49 U,S.C. Section lB01, et seq.,
the Resource Conservation and Recovery Act, -42 U.S.C. Section 6901, et seq., or other applicable state Dr federal laws, rules, Dr
regulations .adopted pursuant thereto. '
Event of Default. The wor!ls "Event of Default" mean any of the events of .default set forth in this Mortgage in the events of default
section of this Mortgage.
Grantor. The word "Grantor" means Jeffrey Tibbitts.
Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or .accommodation party to .Lender, including
without limitation a guaranty of all Dr part of the Note.
Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical,
chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when
improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. Ihe wor!ls "Hazardous
Substances" are used in their very broadest sense .and include without limitation any and all hazar!lous or toxic substances, materials or
waste as !lefined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum
.and petroleum by-pro!lucts Dr .any fraction thereof and .asbestos.
Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the
Real Property, facilities, .additions, replacements .and other construction on the Real Property.
Indebtedness. The word "Indebtedness" means all principal, interest, .and other amounts, costs .and expenses payable under the Note or
Related Documents, 1'ogether with .all renewals of, extensions of, modifications of, consolidations of .and substitutions for the Note or
Related Documents .and .any .amounts expended Dr .a dvance!l by lender to discharge Gr.antor's obligations or expenses incurred by .Lender to
enforce Gr.antor's obligations under this Mortgage, together with interest on such amounts.as provided in this Mortgage.
.Lender. The word ".Lender" means first Bank of Idaho fsb , its successors .and .assigns, Ihe words "successors or .assigns" mean .any
person or company that .acquires itny interest in the Note.
Mortgage. lhe word "Mortgage" means this Mortgage between Grantor .and lender.
Note. lhe word "Note" means the promissory note dated August 10,2006, in the original principallimount Df $123,000.00
from Grantor to lender, together with itll renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions
for the promissory note or agreement. The maturity !late of this Mortgage is February 2, 2007. NOTICE TO GRANTOR: THE NOTE
CONTAINS A VARIABLE INTEREST RATE.
Personal Property. The words "Personal Property" mean .all equipment, fixtures, .and other .articles of personal property now or hereafter
owned by Grantor, .and now or hereafter .attached or affixed to the Real Property; together with.all accessions, parts, and additions to, .all
replacements of, .and .all substitutions for, .any of such property; and 1'ogether with .all proceeds (including without limitation .all insurance
procee!ls and refunds of premiums) from .any sale or other !lisposition of the Property.
Property. The word "Property" means collectively the Real Property and the Personal Property.
Real Property. 'The wor!ls "Re.al Property" me.an the real property, interests .and rights, .as further described in this Mortgage.
Related Documents. 'The wor!ls "Related Documents" mean .all promissory notes, credit .agreements, loan agreements, environmental
.agreements, guaranties, security .agreements, mortgages, dee!ls of trust, security !leeds, collateral mortgages, and .all other instruments,
.agreements and !locuments, whether now or here.after existing, executed in connection with 1he Indebtedness.
Rents. The word "Rents" means itll present .and future rents, revenues, income, issues, roy.alties, profits, and other benefits !lerived from
1he Property.
GRANTOR ACKNOW.LEDGES HA VJNG READ ALL THE PROVISIONS OF IHIS MORTGAGE, AND GRANTOR AGREES 10 ITS TERMS.
GM~
X .
J. 'f r.-.
.5T ATE DF W '"'\ \)M.. t ~
----- \
COUNTY OF \ ~j
INDIVIDUAL ACKNOWLEDGMENT
)
ISS
)
PATRICIA STAN CARONE NOTARY PiJBLlC
COUNTY OF e· STATE OF
ìETON WYOMING
My Commission£xpires March 3, .20l.0
On this !lay before me, the undersigned Notary Public, personally appeared Jeffrey TJbbitts. to me known 10 be the individual !lescribed in .and
who executed the Mortgage, .and acknowledged that he or she signed 1he Mort age itS his or her free and voluntary .act .and .deed, for 1he uses
.and purposes therein mentioned.
::~=-~'''' \'t
Notary Public in and for the State of \]'-J1 ~ l ~
\
.day of
,20 Ob
""dm, ., --¡-...-rc':' ~~
My l:ommission expires D"?-, rd ~ \
.lASER PRDJ..r>ding, V.f,1i.32..1Q.OO3 C-opr. -Hlirl.lnd firUlHu:i.ll-S-04I1ÍOn.I, Jru:. 1S97,-2006, AU flighU~. ,WY N:lCONVERTICFI\l.P1.\G03,F!: ìR-4.5tU1 flI,Jf