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HomeMy WebLinkAbout921306 -¡'"'7I:¡-~~:;¡:i:"r.I~ ~¡.:,~,~r.':';'~"""¡'''~JI:'_\!.:;1~~-¡¡;o''L~~'"i'..,:,--,,'.:,!,.._ '., '~". ,':'--:~~,;"i"":' " '.' ':1'\'1 ','·;',·i·;'.'.;·'r-"'..~;.;.II;.;, ···,",.,~i",¡,,~.-:.\·,.;,·N·¡;-,,1>!I.~;',.r, .~." ,. , '''' :,';.,,~ .,.,,~ 'r' ;.;....';.'; :' 000336 ~- RECEIVED B/1512006 Bt 4:36 PM RECEIVING :#921306 BOOK: 630 PAGE: J36 .JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY -------- ~ -, - ~-,_. ~ -, ~, ~, -- ---- State of Wyoming Space Above This Line For Recorrlin1; Data REAL ESTATE MORTGAGE (With Future Adv.ance Clause) 1. DATE AND PARTJES. The date of 1his Mortg.age is D8,D7-2006 .are .as follows: .and 1he p.arties .and 1heir .addresses 01 MORTGAGOR: fARLJ. DARWAY,TRUSTff DFTHHARLJ. DARWAY fAMILY TRUST DATED JANUARY 30,2001 ;350 PACHfTT RDAD SAN lOUIS DBISP, tA B3401 , I \.. :0 Refer 10 1he Addendum which is .attached .and incorpor.a1ed herein for .additional Mortgagors. UNDER: ìHEBANKDFSTAR VAUfY DRGANIZED AND fXlSTlNG UNDER THE LAWS DFTHE ST ATf DF WYDMING ;384 WASHINGTDN STR£fT PDBOX .8007 AITDN, WY .83110 2. MORTGAGE. For good .and valuableconsidera1ion, 1he receipt .and sufficiency of which is .acknowledged, .and 10 secure 1he Secured Debt (hereafter defined). Mortgagor gr.ants, bargains, conveys, mortgages .and w.arrants 10.Lender, with !he power of .sale, 1he foJlowing rlescriberl property: MHXHIBIT "A" ATTACHED H£R£TDAND MADE A PART HEREDF /. " , ~ MHXHIBIT "A" ATTACHEDH£R£TD AND MADE A PART H£R£DF The property is loc.ated in llNCD1N .at lOT 1161 ROCKBRIDGE MEADOWS SUBDIVISION (County) , AITDN , Wyoming .83110 (AddrBSS) (City) (Zip Code) Toge1her with .all rights, easemen1S, .appurtenances, royalties, miner.al righ1S, oil .and gas rights, crops, 1imber, .all rliversion payments or 1hird party payments made 10 crop producers, .and .all existing .and future improvements, structures, fixtures, .and replacements 1hat may now, or.at .any 1ime in 1he future, be p.art of 1he real es1ate rlescribed .above (all referred 10 .as "Property"). The 1erm Property .also includes, but is not limited 10, .any .and .all w.a1er wells, water, ditches, reservoirs, reservoir sites and d.ams located on 1he real es1ate and .all riparian .and w.ater rights .associ.ated with !he Property, however eS1ablished. WYOMING - AGRICUlTURAl/COMMERCIAlREAlEIT ATE SECURITY INSTRUMENT INDTfDR fNMA, fHlMC, fHADR VAllSf,AND NDTfDRtDNSUMERPURPIlSESI (pBge 1 Df B) ~,-2(>D1 Rankers Systems.lnc" St, Cloud, MN Form AGCOfl;1í,f.I~,V..::,~,.,J/16/2003 Ü il.l·})::;~.'::t"~\ ~ ~m~~~~~:~:,~'::Id ~::¡:f¡::¡::::::~?: Oi - ¡":'::,>¡~J~I¡ill]j!i:,¡ ~:::;::f::~~~'i:;~:; ;~~J: .' ·,....¡O..¡.:.ila:.L.i&h'~'~~·~!.:·~~~::t:;.~....'U)I,=...~_:_·,,"';,~:...'~':1. õ" ,!,.;...;.õf&.......-f_..,J,., 'i:';'~¡.~I::.!:.:!L:~·~:';-;'V";:;·: ,"-;"';':';";<..',"t'I.:;.." ',:["!!,,~: ;". ,''''''.. '.:.,,: . '''-.~.. ':4;'r.;'.~'..':'~~.~' 09<:1:JO{-; 000337 3. MAXIMUM OBlIGATION 1.1MIT. The total principal Bmount of the Secured Debt (hereBfter defined) secured by "'this MDrtgage Bt Bny one time shall not -exceed $ 39.760.00 . This limitation of Bmount rloes not include interest, loan chBrges, l:ommitment fees, brokerBge commissions, BttDrneys' fees Bnd other l:harges vBlidly made pursuant to this Mortgage Bnd rloes not Bpply to BdvBnces (or interest Bccrued on such BdvBnl:-es) marle unrler the terms of this Mortgage to protect Lender's security Bnd to perform Bny of the l:Ovenants l:ontained in this Mortgage. future BdvBnc-es Br-e contemplated .and, Blong with other future obligations, Bre secured by this Mortgage even though BII Dr part may not yet be BdvBnced. Nothing in this MortgBge, however, shBlI l:onstitute a commitment to make .additional or future loans or Bdvances in .any .amount. Any such l:ommitment would need to be .agreed to in B SepBTBte writing. 4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is not limited to, the following: A. The promissory note(s). contrBct(s). guarBnty(ies) or other evidence of rlebt described below .and BII -extensions, renewBls, modificBtions or substitutions. (When referencing the debts below it is .sugge.sted th.at you include items .such BS borrowers' names and addresses, note principal Bmounts, commercial revolving loan agreement'.s maximum ßmount, interest rßtes, variable rate terms, maturity oates, etc.) DNE PRDMISSORY NOTE DATED DBJ0712D061N THE AMDUNT DF $39,7£0.00, B. All future Bdv.mcesfrom .lender to Mortgagor or other future obligations of Mortgagor to Lender under .Bny promissory note, contr.act, guaTBnty, or other evidence of rlebt -existing now or -executed after this Mortgage whether or not this Mortgage is specifically referred to in the evidence of rlebt. C. All obligations Mortgagor owes to L-ender, which now exist Dr 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. D. All additional sums Bdvanced and expenses incurred by L-ender for insuring, preserving or otherwise protecting the Property .and its value Bnd .any other sums .adv.anced .and -expenses incurred by Lender under the terms of this Mortgage, plus interest at the highest rate in -effect, from time to time, BS provided in the Evidence of Debt. E. Mortgagor's performance under the terms of .any instrument evidencing a debt by Mortgagor to L-ender and .Bny Mortgage securing, guar.antying, or otherwise relating to the rlebt. If more than one person signs this Mortgage BS Mortgagor, -each Mortgagor Bgrees that this Mortgage will secure .all future advances Bnd future obligBtions rlescribed above that are given to or incurred by anyone or more Mortgagor, or Bny one or more Mortgagor .Bnd others. This Mortgage will not secure Bny other rlebt if .lender fails, with respect to such other debt, to mBke .Bny required disclosure about this MortgBge or if Lender fails to give any rfiquirerl notice of the right of TBscission. 5. PAYMENTS. Mortgagor agrees to make all pByments on the Secured Debt when due Bnd in .Bccorrlance with the terms of the Evidence of Debt Dr this Mortgage. S. ClAIMS AGAINST TITLE. Mortgagor will pay all taxes, .assessments, liens, -encumbrBnces, lease payments, ground rents, utilities, Bnd other l:hBrges relating to the Property when rlue. .lender may require Mortgagor to provide to Lender copies of all notices that such Bmounts are due and the receipts evidencing Mortgagor's payment. MortgBgor will rlefend title to the Property against Bny dBims that would impair the lien of this Mortgage. Mortgagor Bgrees to Bssign to L-ender, .BS requested by .lender, any rights, daims Dr rlefenses which Mortgagor may hBve .against parties who supply UIDor or mBterials to improve or maintain the Property. 7. PRIOR SECURITY INTERESTS. With regard to ,.Bny other mortgage, rleed of trust, security Bgreement or other lien rlocument that l:reated .a prior security interest or -encumbr.Bnce on the Property .and thBt may hBve priority over this Mortgage, Mortgagor .Bgrees: A. To make.B1I payments when rlue Bnd to perform or l:omply with BII 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, Bnd not to request or accept .any future .advances under .any note or .agreement sel:ured by, "'the other mortgage, rleed of trust or security .agreement unless .lender l:onsents in writing. B. DUE ON SAlE DR ENCUMBRANCE. Lender m.ay, .at its option, rleclare the entire balance of the Sel:urerl Debt to be immediately rlue .and payable lJpon the l:reation of any lien, -encumbrance, transfer, or sBle, or l:ontr.act for .any of these on the Property. -However, if the Property includes Mortgagor's residence, this section shall be subject to the restrictions imposed by federBI Jaw (12 C.f.R. 591). itS .applicable. for the purposes of this section, the term "Property" .also includes ßny interest to .all or .Bny part of the Property. This covenant shall run with the Property .and shall rem.ain in -effect until the Secured Debt is paid in full.and this Mortgage is releBsed. ~ © 1993, 2001 Bankers Systems, tne" St, Cloud, MN -Form AGCO-RESI-WY 1/16/2003 œ (page 2 .Df B) .f,';~ () ~~ 1 ~~,f ~-:~ ti ; '4"·~."~"",.,.",.,..,. :."",." ''''.'''., "ho''''-''''''.'.~',,:.,._:':',., .'. , .' "~'~¡:'!.Ii'Zol:'~.:.'.:." ''''-'!'·~·.:r.¡'¡''''':~'1i'''''-'''\·11,li'JIU'~''.;.! \'''· 09~1~ìO£ 000338 ~. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is Bn i!ntity other than B natural PBrson (such BS a .corporation or other organization), .Li!ru:ler may rlemand immediate payment if (1) a beneficial interi!st in Mortgagor is sold or transferred; (2) there is .a change in i!ither the identity or number of members of a partnership or similar i!ntity; or (3) there is a change in ownership of more than 25 percent of the voting stock of.a corpor.ation or similar i!ntity. -However, .Lender m.ay not demand payment in the .above situations if it is prohibited by law as of the rlate of this 'Mortgage. 10.ENTITY WARRANTJES AND REPRESENTATIONS. If Mortgagor is an entity other than .a n.atural Person (such .as B corporation or other organization), Mortgagor makes to .Lender the iollowing warranties .and repri!sentations which shall be continuing as long.as the Secured Debt remains outstanding: A. Mortgagor is .an i!ntity which is rluly organized Bnd validly existing in the Mortgagor's state of incorporation (or organization). Mortgagor is in good standing in .all states in which Mortgagor tr.ansacts business. Mortgagor has the power Bnd .authority to own the Property and to carryon its business as now being conducted .and, as applicable, is r:¡ualified to rlo so in i!ach .state in which Mortgagor operates. B. The i!xecution, rlelivery and performance of this Mortgage by Mortgagor Bnd the obligation i!videnci!rI by the Evidence of Debt .are within the power of Mortgagor, have bef!n .duly authorizi!d, have ri!ceived all necessary governmental.approval, .and will not violate any provision of l.aw, or order of court or governmental Bgency. C. Other than .disclosed in writing Mortgagor has not changed its name within the last ten years and has not med any other trade or fictitious name. Without .Lender's prior written consent, Mortgagor .does not Bnd will not use any other name .and will preserve its existing name, tr.ade names and iranchises until the Secured Debt is .satisfied. 1'. PROPERTY CONDITION, AlTERATJONS AND INSPECTION. Mortgagor will keep the Property in good condition .and make all repairs that are reason.ably necessary. Mortgagor will f ive umder prompt notice of any loss or Liamage to the Property. Mortgagor will keep the Property iree of noxious wef!.ds and grasses. Mortgagor will not initiate, join in or consent to any change in any private restrictive covenant, zoning ordin.ance or other public or priv.ate restriction limiting or .defining the uses which may be made of the ProPBrty Dr any p.art of the Property, without .Lender's prior written consent. Mortgagor wiJI notify .Li!nder of all .demands, procef!dings, claims, .and .actions .against Mortf af or or .any other owner made under Jaw or refjulation regar.ding use, ownership and occupancy of the Property. Mortgagor will comply with all legal rer:¡uirements Bn.d restrictions, whether public or private, with respect to the use of the Property. Mortgagor also agrees that the nature of the occupancy and use will not chanf e without .Lender's prior written consent. No portion of the Property will be removed, Demolished or m.aterially Bite red without .Len.der's prior written consent i!xcept that Mortgagor has the right 10 remove items 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 le.ast i!qual in value to the replaced personal property, iri!e from .any title retention device, security agreement or other i!ncumbrance. Such replacement of personal property will be .deemed .subject to the .security interest created by this Mortfjage. Mortgagor .shall not partition or subdivide the Property without .lenDer's prior written consent. .Lender or .Lender's agents may, .at .Li!n.der's option, i!nter the Property .at any reason.able time for the purpo.se 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. 12. AUTHORITY TO PERFORM. If Mortgagor iails to perform .any of Mortgagor's .duties under this Mortgage, or .any other mortgage, .deed of trust, security .agreement or other Jien .document that has priority over this Mortgage, .Lender may, without notice, perform the .duties or cause them to be PBrformed. Mortgagor appoints .Li!nder .as attorney in f.act to 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 .Li!nder's security interest in the Property. This may include completing the construction. .Len.der's right to perform ior Mortgagor shall not create .an obligation to PBrform, and .Li!nrler's iailure to perform will not preclude .Lender irom i!xercising any of .Li!nder's other rif hts lmder the Jawor this Mortgage. Any amounts paid by .Li!nder for insuring, preservinf or otherwise protecting the Property .and .Li!nder's security interest will be .due on .demand an.d will bear interest irom the rlate of the payment until p.aid in iull .at the interest rate in effect from time to time accor.ding to the terms of the Evidence of Debt. 13. ASSIGNMENT OF .lEASES AND RENTS. Mortgagor .assigns, f rants, bargains, conveys, mortgages and warrants to .Lender as additional .security .all the right, title and interest in the following (Property). A. Existing or future leases, .subleases, licenses, f uaranties Bnd .any other written or verbal agreements ior the use .and occupancy of the Property, including but not limited to, .any extensions, renewals, modifications or replacements (.Leases). B. Rents, issues and profits, including but not limited to, .security .deposits, minimum rents, perci!ntage rents, additional rents, common .area maintenance charges, parking charges, real estate taxes, other applicable 1axes, insurance premium contributions, liquidated Damages following Default, canceUation premiums, "loss of rents" insurance, f uest receipts, revenues, royalties, proceerls, bonuses, .accounts, contract rights, general intangibles, lInd all rights and claims which Mortgagor may have that in any way pertain to or are on .account of the use or occupancy of the whole or .any p.art of the Property (Rents). In the i!vent any item liste.d .as .Li!ases or Rents is .determined to be personal property, this Assignment will also be ref arrled liS a security agreement. ¡' ' , , , ~. ,20011!ankersSystems, Inc" St, CloiJd, MN F.orm AGC,,_ z;-m :3 Df B) Jllw.1E ;..·,'.-..~.:.o;o-"U·"~""' "'-.~¡:.:.""",:.,· ;..';,.,:....-..-.,,,...'__,....... '_ :..,-".:c..'.O ,"r.' '.;', ,_'..,~"'""~. , n. ,..'_.,.",:.0..-,'.-.'.." '.:,'~::"~'........"'1I.~.-.u.;._;';,~ ,"~".,..,"':,. F:," ".'·.','·,'·..-"'..;"::'~~·l·. Ji';" ....'.,. :.~...."............. Ó9~130f~ 000339 Mortaagor will promptly provide .L-ender with copies of the .L-eases .and will certify the.se leases .are true .and corr-ect copies. The exi.stina le.a.se.s will be provided on execution of the A.s.signment, .and .all of the future lea.se.s .and .any other inform.ation with re.spect to the.se .Leases will be provided immediately .after they .are executed. Mortgaaor may collect, receive, -enjoy .and use the Rents .so lona .as Mortaagor is not in LIef.ault. Mortgagor will not collect in Bdv.ance .any Rents LIue in future le.ase periods, unless Mortg.agor first obtains .Lender'.s written consent. Upon LIef.ault, Mortaaaor will receive .any Rents in trust for .Lender .and Mortgagor will not commingle the Rents with .any other funds. When lender so LIirects, Mortg.agor will endorse .and deliver .any p.ayments of Rents from the Property to .Lender. Amounts collected will be .applied .at lender's LIiscretion to the Secured Debts, the costs of managina, protectina .and preservina the Property, .and other necess.ary -expenses. Mortgagor .agrees that this Security Instrument is immediately effective between Mortg.agor .and .L-ender. This Security Instrument will rem.ain effective LIuring .any statutory redemption period until the Secured Debts .are .satisfied. Unless otherwise prohibited Dr prescribed by .state law, Mortgagor .agrees that ..Lender may take .actual possession of the Property without the necessity of commencing .any legal.action or proceeding. Mortg.agor .agrees that .actual possession of the Property is LIeemed to occur when .Lender notifies Mortgagor of Mortgagor's LIefault .and LIemands that Mortgagor .and Mortgagor's tenants pay .all Rents LIue Dr to become LIue LIirectly to .L-ender. Immediately .after lender aives Mortaagor the notice of LIefault, Mortgagor .agrees that -either ..Lender or Mortgagor milY immediately notify the tenants .and LIemilnd that .all future Rents be paid LIirectly to lender. As long ilS this Assignment is in-effect, Mortgilgor w.arr.ants .and represents that no LIefault exists under the le.ases, .and the parties .subject to the .L-eilses have not violated lIny .applicable law on lease.s, lic-enses .and l.andlorLls .anLl tenants. Mortgagor, .at its .sole cost .and expense, will keep, observe .and perform, lInd require .all other pBrties to the ..Leases to comply with the leBses Bnd ilny .applicable law. If Mortgagor Dr lIny party to the ..LeBse defBults or fBils to observe .any .applicable law, Mortgagor will promptly notify.L-ender. If Mortgagor neglects or refuses to -enforce compliance with the terms of the .L-eBses, then .LenLler may,.at .Lender's option, -enforce compliance. Mortgagor will not .sublet, modify, t!xtend, cancel, Dr otherwise alter the le.ast!s, Dr .accept the .surrender of the Property covereLl by the le.ases (unle.ss the .Leases .so require) without ..LenLler's consent. Mortgagor will not .assign, compromise, .subordinate Dr -encumber the leases and Rents without .L-ender's prior written consent. lender LIoes not .assume Dr become liable for the Property's maintenance, LIeprecÍBtion, Dr other losses or LIamages when .L-ender.acts to manage, protect Dr prt!serve the Property, except for losses .and .damages LIue to lender'.s gross negligence Dr intentional torts. Otherwise, Mortgagor will indemnify .Lt!nder and hold .Lender hilrmle.ss for .all liability, loss or LIBmaae that .Lender m.ay incur when ..Lender opts to -ex-ercise Bny of its remedies Bgainst .any party obligated under the leilses. 14. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes .a unit in B condominium Dr B planned unit LIevelopment, Mortgagor will perform 1111 of Mortgagor'.s LIuties under the covenants, by-Iaw.s, Dr reaulations of the condominium Dr planned unit LIevelopment. 1E. DEFAULT. Mortgagor will be in LIefault if Bny of the followina occur: A. Any party obligated on the Secured Debt faiJ.s to make payment when LIue; B. A breach of Bny term or covenant in this Mortgage, .any prior mortgage or .any com¡truction loan .agreement, .security Bgreement or Bny other LIocument eviLlencing, guarBntyina, .securina Dr otherwise relating to the Secured Debt; C. The making or furnishing of Bny verbal Dr written representation, statèment or warr.anty to .Lender that is f.alse Dr incorrect in .any material respect by Mortgagor Dr .any person Dr entity obligated on the Secured Debt; D. The death, LIissolution, Dr insolvency of, lIppointment of.a receiver for, Dr .applic.ation of Bny LIebtor relief law to, Mortgagor Dr .any person Dr t!ntity obligated on the Secured Debt; E A aood faith belief by lender ilt .any time that lender is insecure with respect to .any person Dr -entity obligated on the Secured Debt Dr that the prospect of .any payment is impaired or the vBlue of the Property is impaired; F. A mate rÍB I Bdverse chBnge in Mortgagor's business including ownership, management, and financial conditions, which .Lender in its opinion believes impBirs the vBlue of the Property Dr repayment of the Secured Debt; Dr G. Any loan proceeds .are used for .a purpose that will contribute to excessive erosion of highly erodible land Dr to the conversion of wetlands to produce.an Bgricultural commodity, .as further explained in 7 C.F.R. PBrt 1940, Subpart G, Exhibit M. 16. REMEDJES ON DEFAULT. In .some instances, federBI Bnd state IBW will require lender ,to provide Mortgagor with notice of the right to cure, medIation notices or other notices Bnd may establish time schedules for foreclosure .actions. SUbject to these limitations, if .any, lender m.ay .accelerBte the Secured Debt .and foreclose this Mortgage in.a manner provided by law if this Mortgagor is in LIefault. At the option of .Lender, .all or .any part of the .agreed fees .and charges, .accrued interest Bnd princip.al shall become immeLliately LIue .and pa, y.able Bfter giving notice if requirt!d by 1.aw, upon the occurrence Df .a LIef.ault or .anytime the re.afte r. In .addition, lender shall be entitled to Bit the remedies provided by l.aw, the Evidence of Debt, other evidences of LIebt, this Mortfjage .and Bny rel.ated LIocuments including without limitation, the power to sell the Property. All remedies .are rlistinct, cumulative Bnd not exclusive, .and the .Lender is entitleLl to .all remedies provided .at law Dr t!quity, whether t!xpressly set forth Dr not. The .acceptance by lender of Bny .sum in payment or partial pByment on the Secured Debt .after the b.aIBnce is LIue Dr is .accelerBted or .after foreclosure proceedings .are filed shall not constitute .a wBiver of lender's right to require full Bnd complete cure of .any existing LIef.auft. By not t!xercising Bny remedy on Mortgafjor's LIefBult, .Lender LIoes not wBive .Lender's rifjhtto later consider the event.a LIef.auft if it continues or hBppens .again. ~~T~ ~ Û(H)gJ''""i t~ (pBge 4 .of B) '4,...'4,....~.'~,., ....,.-',,' "~",,-,,,,_____",,,,,,,~.......-__ ,",~", '~""''''-''----,'",,,-,-,,,,-,,,,-,,'-'-'''~ .....-...,....'.'.'..-.1 "''''"''-'''''''...,C'.,·----'>-'''-J',...'.'" '......,....-.,."., O~~1~I06 000340 17.EXPENSES; ADVANCES DN COVENANTS; ATTORNEYS' FEES; COLlECTION COSTS. Except when prohibited by Jaw, Mortgagor agrees to pay all of lender's ~xpenses if Mortgagor breaches any covenant in this Mortgage. Mortgagor will .also pay on .demand all of lender's expenses incurred in collecting, insuring, preserving or protecting the Property or in .any inventories, .audits, inspections or other examination by l...ender 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 this Mortgage, including, but not limited to, attorneys' fees, court costs, .and other legal expenses. Once the Secured Debt is fully .and finally paid, l...ender agrees to release this Mortgage .and Mortgagor .agrees to pay for .any recordatÌDn costs. All such .amounts .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 the Evidence of Debt and.as permitted by law. 1B.ENVJRONMENTAll...AWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental.Law" means, without limitation, the Comprehensive Environmental Response, Compensation and l...i.ability Act (CERClA,42 U.S.C. B601 .et ßeq.), BII other federal, state Bnd local laws, regulations, ordinances, court or.ders, attorney general opinions or interpretive letters concerninfl the public health, safety, welfare, ~nvironment or a hazar.dous substance; .and (2) "Hazardous Substance" means any toxic, radioactive or hazar.dous material, waste, pollutant or contaminant which has characteristics which render the substance .dangerous or potentially .dangerous to the public health, safety, welfare or ~nvironment. The term includes, without limitation, .any substances .defined BS "hazardous material," "toxic substances," "hazar.dous waste" or "hazardous substance" under .any Environmental .Law. Mortgagor represents, warrants .and agrees that, except.as previously disclosed .and acknowledged in writing: A. No Hazar.dous Substance has been, is, or will be located, tr.ansported, manufactured, treated, refined, or handled by .any p.erson 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 .and will not cause, contribute to, or permit the release of .any Haz.ar.dous Substance on the Property. C. Mortgagor will immediately notify len.der if (1) a release or threatened release of Hazar.dous Substance occurs on, under or .about the Property or migrates or threatens to migrate from nearby prop.erty; or (2) there is a violation of .any Environmental .Law concerning the Prop.erty. In such .an .event, Mortflagor will take all necessary remedial Bction in accor.dance with Environmental .Law. D. Mortflagor has no knowledge of or reason to believe there is Bny pending or threatened investigation, claim, or proceeding of any kind relating to (1) Bny Hazardous Substance located on, under or ..about the Property; or (2) any violation by Mortgagor or Bny tenant of .any Environmental .Law. Mortgagor will immediately notify l~n.der in writing .as soon .as Mortgagor has reason to believe there is any such pending or threatened investigation, claim, or proceedinfl. In such an event, l...imder has the riflht, but not the obligation, to participate in .any such proceedinfl including the right to receive copies of .any .documents relatinfl to such proceedinfls. E. Mortgagor .and .every tenant have been, are Bnd shall remain in full compliance with any applicable Environmental .Law. f. There are no un.derground 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 insp.ect the Property, monitor the activities .and operations on the Property, and confirm that BII permits, licenses or approvals require.d by .any applicable Environmental.Law .are obtained .an.d complied with. H. Mortgagor will permit, or cause any tenant to permit, lender or lender's agent to .enter and inspect the Prop.erty and review all records .at .any reasonable time to .determine (1) the existence, location .and nature of .any Hazar.dous Substance on, under or Bbout the Property; (2) the existence, location, nature, and magnitude of .any Hazardous Substance that has been released on, under or ..about the Property; or (3) whether or not Mortgaflor .and .any tenant .are in compliance with llpplic.able Environmental .Law. I. Upon l...ender's request .and at .any time, Mortgagor .agrees, .at Mortgagor's ~xpense, to engage a ! ualified ~nvironmental ~ngineer to prepare .an environmental .audit of the Prop.erty .and to submit the results of such audit to l...ender. The choice of the environmental engineer who will perform such Budit is subject to lender's .approval. J. l...ender has the right, but not the .obligation, to perform any of Mortgagor's obligations under this section .at Mortflagor's expense. K. As a consequence of .any breach of .any representation, warranty or promise made in this section, (1) Mortgagor will indemnify .and hold l...ender .and l...ender's successors or assigns harmless from .and against all losses, claims, .demands, liabilities, .damages, cleanup, response .and remediation costs, penalties .and expenses, including without limitation .all costs of litigation .and .attorneys' fees, which l...ender .and lender's successors or .assigns may sustain; .and (2) at l...ender's discretion, li:mder may release this Mortgage .and in return Mortgagor will provide l...ender with collateral of .at least equal value to the Property secured by this Mortgafle without prejudice to .any of l...ender's rights under this Mortgage. L Notwithstanding .any of the language contained in this Mortgage to the contrary, the terms of this section shall survive .any foreclosure or satisfaction of this Mortflage regardless of .any passage of title to lender or .any .disposition by l...ender of any or.all of the Property. Any cl.aims and .defenses to the contrary are hereby wBived. 19. CONDEMNATION. Mortgagor will give lender prompt notice of any .action, real or threatened, by private or public ~ntities to purchase or take any .or all of the Property, including .any e.asements, through condemnation, eminent .domain, or .any other means. Mortgagor further agrees to notify l...ender of .any proceedings instituted for the establishment of any sewer, water, conservation, .ditch, .drainage, or other .district relating to or binding upon the Property or .any part .of it. Mortgagor Buthorizes lender to intervene in Mortgagor's name in .any of the ..above .described actions or claims .and to collect .and receive all sums resultinfl from the Bction or claim. Mortgagor .assigns to l...ender the procee.ds of any aw.ar.d or claim for damafles connected with .a condemnation or ether taking of .all .or .any part of the Property. Such procee.ds shall be considered payments .and will be .applied .as provided in this Mortgage. This .assignment of procee.ds is ßubject to the terms of ~ny prior mortgage, .deed .of trust, security .agreement .or other lien document. ~ [:¡:;:¡¡¡:!:!:¡:i:i:,! ~~~~l~rl:~;gj, 2001 .Bankers Systems, Inc" 5t, Cloud. MN Form AGCO~~·Ë\~,~~~,~r'1/1612003 ~ ûo~ 5 Df B) :::U~!~¡¡~Æ; '...,.....-.........'...,'..',..',. ,. .................,.,.., ..-.. ~"~:IL..._~_-.:......~.,. '."'...., , ....--...'.'.~,"',..-....-... ,.-'.,'......'..::.:'...,'-1~:....... 09~1:JO& 20. INSURANCE. Mortgagor lIgrees 10 maint.ain insurllnce BS iollows: A. Mortgagor shall keep the Property insured lIgainst loss by iire, theft .and other h.az.arns lInd risks reBSonably Bssoci.aten with the Property nue to its 1ype linn location. Other h.azarns .and risks may incltJne, ior example, coveTBge against loss nue to iloods or floodinQ. This insuTBnce shall be maintained in the lImounts lInd for the periods that lender rer¡uires. What lender rer¡uires pursuant to the preceding two sentences can change nuring the term of the Securen Debt. The insur.ance c.arrier providing the insur.ance shall be chosen by, Mortgagor .subject to lenner's lIpprov.al, which shall not be unreason.ably withheln. If Mortgagor fails to maint.ain the coverllge nescriben lIbove, lender may, .at Lenner's option, obt.ain cover.age to protect Ümner's rights in the Property Bccorning to the terms of this MortgaQe. 00034:1 All insuTBnce policies lInd renewals shall be .acceptable to lenner lInd shall incJude .a st.annarn "mortgage cJause" .and, where lIpplicable, "lender loss payee clause." Mortgagor shall immeniately notify lenner of cancellation or termination of the insurance. lender shall have the right to hold the policies and renewals. If lender re£ uires, Mortgagor shall immediately give to lenner .all receipts of pain premiums lInd renewllI notices. Upon loss, ' Mortgagor shall give immediate notice to the insuTBnce cilrrier lInd Lenner. lenner may milke proof of loss if not i made immediately by Mortgilgor. . ¡ Unless lender lInd Mortgilgor otherwise Bgree in writing, insuTBnce proceens shall be lIpplied to restoration or repair of 1he Property nilmaged if the restoration or repilir is economicillly ieBsible lInd lender's security is not lessened. If the restoration or repilir is not economically feBSible or lenner's security would be lessened, the insurance proceeds shBII be lIpplied to the Secured Debt, whether or not then nue, with lIny -excess paid to Mortgagor. If MortgaQor lIb.annons the Property, or noes not lInswer within 30 nilYs B notice irom L-ender thilt the insurance !:.aTTier hBs offeTf~d to settle B clilim, then lender mBY col!ectthe insµr.anç~_proceed.!¡. +'~T1ner rnBY use the proceens to repilir or restore 1he Property or to PilY the Secured Debt whether or not then nue. The 3D-nay period will beQin when the notice js given. Unless lender lInd Mortgagor otherwise ilgree in writing, lIny .applicBtion of proceeds to principal shall not extend or postpone the nue nilte of schenuled payments or chanQe the lImount of the payments. If the Property is lIc£ uired by lender, Mortgagor's right to .any insurilnce policies lInd proceens resulting from namage to the Property before the Bcr¡uisition shilll pilSS to lender to the-extent of the Securen Debt immediiltely before the lIc£ uisition. B. Mortgagor agrees to ffi.åint.aín comprehensive generllJ liability insurllnce naming lender liS lIn lIdditional insuren in Bn lImount Bcc-ept.able to lender, insuring lIgilinst claims lIrising from lIny lIccinent or occurrence in or on the Property. C. Mortgilgor .agrees to milint.ain rentill loss or business interruption insurBnce, .as required by lender, in lIn Bmount equill to .at leBSt coverage of one yeilr's nebt service, .ann required escrow lIccount neposits (if .agreed to sepilriltely in writing), under .a form of policy lIcceptable to Ümner. 21. NO ESCROW fOR TAXES AND INSURANCE. Unless otherwise providen in B SepilTBte lIgreement, Mortgilgor will not be rer¡uired to PilY to lenner funds for tilxes ilnd insurilnce in escrow. 22. fINANCIAl REPORTS AND ADDITIONAl DOCUMENTS. Mortgagor will provide to limder upon request, Bny fin.anciBI stiltement or informiltion l-ender milY deem necessary. MortgBgor WBrrBnts that lIlI financial st.atements linn information Mortgagor provides to lender lire, or will be, lIccurate, correct, lInd complete. Mortgagor lIgrees to sign, neliver, Bnd file BS lender mllY rellsonably rer¡uest lIny lIdditionill nocuments or certifications thilt lender milY consider necessary to perfect, continue, lInd preserve Mortgilgor's obligations under this Mortgilge lInd lender's lien status on the Property. If Mortgagor iai/s to no so, lenner may sign, deliver, lInd file such documents or certificates in Mortgagor's name Bnd Mortgagor hereby irrevocllbly appoints Ümder or lender's lIgent liS lIttorney in iact to no the things necessary to comply with this section. 23..JOINT AND INDIVJDUAL .LIABilITY; CD-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All nuties unner this Mortgilge Bre joint lInd indivinuill. If Mortgilgor signs this Mortgage but noes not sign the Evidence of Debt, Mortgagor noes so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor noes not lIgree to be personally liable on the Securen Debt. Mortgilgor ilgr-ees that .Lender lInd lIny party to this Mortgage milY extend, modify or milke lIny chilnge in the terms of this Mortgilge or the Evidence of Debt without Mortgilgor's consent. Such iI change will not releilse MortYilgor from the terms of this Mortyage. The .duties lInd benefits of this MortQilQe shall bind lInd benefit the successors .and lIssigns of Mortgayor lInd l-ender. ØVh "'i, ..IiI'"""i_']"' ",,:"'t, (pBge fj nf B) If this Mortgage secures B gUilrllnty between .Lender ilnd Mortgilgor lInd noes not nirectly secure the obliYlltion which is guarllntied, Mortgilgor agrees to wllive lIny rights that may prevent lender from bringing Bny .action or cJilim Bgainst Mortfjafjor or lIny party indebted under the obligation incJuding, but not limited to, anti-deficiency or one-lIction laws. "......~...._,~..,...",~. '. --'-----,. '...,'~'." .09~1306 000342 24. APPLICABlE LAW; SEVERABILITY; INTERPRETATION. This Mortgage is governed by the laws of the jurisdiction in which lender is located, -except to the -extent otherwise r-equired by the laws of the jurisdiction where 100 Property is 10cBted. This Mortgage is complete .and fully integTBted. This Mortgage may not be .amended or modified by or.al Bgreement. Any section or clause in this Mortgage, Bttachments, or Bny Bgreement relBted to the Secured Debt thBt conflicts with .applicable law will not be -effective, unless that law -expressly or impliedly permits the vBrÎ1ltions by written Bgreement. If Bny section or clause of this Mortgage CBnnot be enforced Bccording to its terms, 1hB,t section or clBuse will be severed .and will not .affect the enforceability of the remBinder of this MortgBge. Whenever usen, the singuIBr shall include the plural Bnd the plur.al the singular. The cBptions Bnd headings of the sections of this Mortgage .are for .convenience only Bnd Bre not to be used to interpret or define the terms of this Mortgage. Time is of 1he essen.ce in 1his Mortgage. 25. NOTICE. Unless otherwise required by law, Bny notice slutll be given by delivering it or by TTUliling it by first .cIBss TTUlilto the .appropriate pBrty'S Bddress on pBge 1 of this Mortgage, or to Bny other Bddress designated in writing. Notice to one mortgagor will be deemed to be notice to .all mortgagors. 26. WAIVERS. Except to the -extent prohibited by law, Mortgagor w.aives .any right regarding the marshBlling of liens, Bnd .assets .and BII homesteBd -exemption rights relBting to the Property. 27. U.C.C. PROVISIONS. If .checked, the following Bre .applicable to, but.do not limit, this Mortgage: Ð Construction loan. This Mortgage secur£!s Bn obligation incurred for the construction of 080' improvement on 1he Property. Ð Fixture Filing. Mortgagor grants to l£!nder B security int£!rest in BII goods that Mortgagor owns now or in the future Bnd that Bre or will become fixtures relBted to the ProPi3rty. Ð Crops; Timber; Minerals; Rents, Issues and Profits. Mortgagor grants to l-ender B security interest in BII crops, timber .and minerals located on the Property BS well BS BII T£!nts, issues, Bnd profits of them including, but not limi . (CRP) .and Payment in Kind (PlK) pByments Bnd similar governmental pro am'" ot.~tiit ,,¡'Shä#:'B!ScibeSinclud in the term "Property"). ,.. 1.l ~ iCL-i f !''I~ OPtlbO C Of1lJ,^ Ð Per!jþ Y~iaQ~ g~~J.QJleider B security interest in BII personal property located on or connected wit'" ' Y-ct.b.iaJI"f Cur~Y¡~~t i tudes 0811 farm products, inv£!ntory, £!quipment, .accounts, docum£!nts, ins chatt£!1 pBfWIlj RMêl9t intang" £!s, Bnd BII oth£!r it£!ms of personal property Mortgagor owns now or in the construction, ownership, operation, managem£!nt, or maintenance of the Property. The term "personal prop£!rty" specifiCBlly excludes that prop£!rty described BS "household goods" secured in conn£!ction with a "consumer" lOBO' .as those terms Bre defined in .applicBbJe fedeTBI regulBtions gov£!rning unfair Bnd dec£!ptive credit practices. Ð Filing As Financing Statement. Mortgagor Bgr£!eS .and Bcknowledges that this MortgBge .also suffic£!s .as B financing statement .and .as such, may be filed of r£!cord .as .a financing statement for purposes of Article 9 of the Uniform Commercial Code. A carbon, photogr.aphic, image or other reproduction of this Mortgage is sufficient .as .a financing statement. 28. OTHER TERMS. If checked, the following Bre .applicable to this Mortgage: Ð line of Credit. The Secured Debt includes 08 r£!volving line of credit provision. Although 1he Secured Debt mBY be T£!duced to.a 2£!rO balBnce, this Mortgage will remain in £!ffect until released. Ð Separate Assignment. The Mortgagor has £!x£!C1J!ed or will -exec1J!e B sepBrBte iiSsignment of leases .and rents. If the S£!pBrBte .assignment of I£!Bses .and r£!nts is properly -executed Bnd recorded, then the sepBrate Bssignm£!nt will supersede this Security Instrument's "Assignment of leases .and Rents" section. Ð AdditionalTenns. rf . ! " ,. ~'2001 flanlœr.s 5y.stems, Ine" 5t, Cloud, MN Form AGC ~ (}' {'f. 0"] 'J:J (pBge 7 Df E) ~.. " " ~J;;@~!!f~~~i~;~;?! ....,-..,..,.,,..-,-,.-,.' .. , v,.<-",'-'-=------'--'_'_ ,....---.0...., 09~1..~lG6 000343 SIGNATURES: By signing below, Mortgagor 1Igrees to the terms 1Ind covenants contained in this MortgIlge 1Ind in 1Iny 1Ittachments. Mortgagor 11150 1Icknowledges receipt of 11 copy of this Mortgage on the LlIIte stated 1Ibovß on P1Ige 1. Ð ActuIII1Iuthority W1IS granted to the partif!s signing b€low by rßsoJution signed and rlIlted .' (DB!e) (Signature) (DBte) (Signature) (Date) (Signature) (Date) Ð Refßr to the Addendum which is .attached .and incorporatßd herßin for 1IdditionaI Mortgagors, signIltufi~s 1Ind acknowledgmßnts. (Individual) ACKNOWLEDGMENT: , STATE Of C~ AL I Fa ¡¿rJ I A , COUNTY Of This instrument WIlS .acknowled~ed b€forß mß this ~ by zJArJ E t0r\u> £ IV Earl J. ])ß.rWB.y. My commission ßxpifßs: A ~ L ::lP'I) ::t C I D ..s A,J Lu is 0 ßLSPO rlayof Au G:.u.5.-¡ . 2 00 L.. . } ss. Jt1ft~~~-, _....-"'~--~J a .JANE WALDiN , CommIsaIon# 1~ í Notary 9uÞIIc - CaIItomIa ì . San LuIs 0tHIp0 County j ~ '"" _ ~:o:m~~~2~~ ~~ STATE Of WYDMING , COUNTY Of This instrument W1lS 1Icknowlßdged beforß me this rlay of by fARLJ. DARWAY (Business TRUSTEE .or .Entity kknowle, gnuontl of EARLJ. DARWAY. TRUSTEE DFTHHARLJ. DARWA HAMIL YTRUST DATED JANUARY 3D, 2001 11 CALIFORNIA My commission ßxpires: } ss. (Title(s)) (Name Df Business Dr Entityl on behalf of the businßss or -entity. (NDtery Public) ~; ©1993, 4!OO).B.a,nkers Systems, Ine" St, Cloud, MN form AGCO-RESI-WY 1/16/2003 .. . ), ,.:....<.j ''i. " '- \) ,'"\" '-I 'J',1',",,: ~l,:j ~'I;.f; ~;~) " ... ' (page B Df B)