HomeMy WebLinkAbout876065 F~EOFIVED
8"/6065
:7 BO0 ..i~ _._~_,~1[ PRPAGE rL:D
Strife of Wyoming Space
MORTGAGE
(With Future Advance Clause)
1. DATE AND PARTIES. The date of this Mortgage (Security Instrument) i,,i p.Q-j.4...2.qa.! .................................... and the
parties, their addresses and tax identificationnumbers, if required, are as followi~:
MORTGAGOR: DANIEL DEAN JESKE AND ANBELA DAWN JESKE, HUSBAND AND WIFE
P.O, BOX 954
THAYNE, WY 83127
[] I1! checked, refer .to the attached Addendum incorporated herein, f'i~,r additional Mortgagors, their signatures and
acknowledgments.
LENDER: THE BANK OF STAR VALLEY
384 WASHINGTON STREET
PO BOX 8007
AFTON, WY 83110
83-0315,143
2. CONVEYANCE. For good and valuable consideration, the receipt and suf~'}ciency of which is acknowledged, and to secure
the Secured Debt (defined below) and Mortgagor's performance under this ~.ecurity Instrument, Mortgagor grants, bargains,
conveys, mortgages and warrants to Lender, with power of sale, the following described property: LOl 3~ DE IHE SlAR VALLEY RANCH
PLAT 3, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF.
The property is located in ................................ LIN.q.0LN ....................... ;'i ....... at .2.7.!..tCAH. g,qA. NY..W..&V. ...........................
(County),
THAYI,/E ( , ' 83110
............................................................................................. ~,;~. ........... ;. ........ Wyoming .......................
(Address) (Cibi"i (ZIP Code)
TOgether with all rights, easements, appurtenances, royalties, mineral right!~, :oil and gas rights, all water and riparian rights,
ditches, and water stock and all existing and future improvements, structup:% fixtures, and replacements that may now, or at
any time iu the future, be part of the real estate described above (all referred tc as "Property").
3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured b~ :ibis Security Instrument at any one time shall not
exceed $ 122 00E00 .... This limitation of a::sc, unt does not include interest and other fees and
charges validly made pursuant to this Security Instrument. Also, this limi'~miion does not apply .to advances made under the
terms of this Security Instrument to protect Lender's security and to perfo;'m any of the covenants contained in this Security
Instrument. ,, ~,..
4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt". is defined as follows:
A. Debt incurred under the terms of all promissory note(s), contract(sl;, guaranty(s) or other evidence of debt described
below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is
suggested that you include items such as borrowers' names, note amounts; interest rates, maturity dates, etc.)
ONE PROMISSORY NOTE DATED 9/14/01 IN THE AMOUNT OF M 22,000.00
WYOMING - MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USE) (page I of 4)
@1 994 Bankers Systems, Inc,, St. Cloud, MN (1-800-397-2341) Form RE-MTG-WY 11/18/94
B. All future advances fi'om Lender to Mortgagor or other future obligafior~s of Mortgagor to Lender under any promissory
note, contract, guaranty, or other evidence of debt executed by Mortgagor in favor of Lender executed after this Security
Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security
Instrument, each Mortgagor agrees that this Security Instrument wiil secure all future advances and future obligations
that are given to or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. All future
advances and other future obligations' are secured by this Security ilnstrument even though all or part may not yet be
advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument.
Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances in any
amount. Any such commitment must be agreed to in a separate writing...
C. All obligations Mortgagor owes to Lender, which may later arise, to .:hE: extent not prohibited by law, incl6ding, but not
limited to, liabilities for overdrafts r~lating to any deposit account agreement between Mortgagor and Lender.
D. All additional sums advanced and expenses incurred by Lender fo? insuring, preserving or otherwise protecting the
Property and its value and any other sums advanced and expenses ii~cu:rred by Lender under the terms of this Security
Instrument.
This Security Instrument will not secure any other debt if Lender fails to give any required notice of the right of rescission.
,
5. PAYMENTS. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
terms of the Secured Debt and this Security Instrument.
6. PRIOR SECURITY INTERESTS. With regard to any other mortgagel deed of trust, security agreement or other lien
document that created a prior security interest or encumbrance on the Property, Mortgagor agrees:
A. To make all payments when due and to perform or comply with all covenants.
B. To promptly deliver to Lender any notices that Mortgagor receives from ~e holder.
C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured
by the lien document without Lender's prior written consent.
7. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, iiens, encumbrances, lease payments, ground rents, _
utilities, and other charges relating to the Property when due. Lender may r~quire Mortgagor to provide to Lender copies of all
notices that such amounts are due and the receipts evidencing Mortgag~r'i payment. Mortgagor will defend title to the
Property against any claims .that would impair the lien of this Security InsffUment. Mortgagor agrees to assign to Lender, as
requested by Lender, any rights, claims or defenses Mortgagor may have ag~ainst parties who supply labor or materials to
~naintain or improve the Property.
8. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, de~ai~ the entire balance of the Secured Debt to be
immediately due and payable upon the creation of, or contract for the creation 6f, any lien, encumbrance, transfer or sale of the
Property. This right is subject to the restrictions imposed by federal law (1.2 'C.F.R. 591), as applicable. This covenant shall
run with the Property and shall remain in effect until the Secured Debt is paid in :l~ll and this Security Instrument is released.
9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortigai{or will keep the Property in good condition and
make all repairs that are reasonably necessary. Mortgagor shall not commit [ir :~llow any waste, impairment, or deterioration of
the Property, Mortgagor will keep the Property free of noxious weeds and.i grasses. Mortgagor agrees that the nature of the
occupancy and use will not substantially change without Lender's prior writien' consent. Mortgagor will not permit any change
in any license, restrictive covenant or easement without Lender's prior wr[it¢h consent. Mortgagor will notify Lender of all
de~nands, proceedings, claims and actions against Mortgagor, and of any loss er damage to the Property.
Lender or Lender's agents may, at Lender's option, enter the Property at an~=} reasonable time for the purpose of inspecting the
Property. Lender shall give Mortgagor notice at the time of or before an ~aspection specifying a reasonable purpose for the
inspection. Any inspection of the Property shall be entirely for Lender'sI benefit and Mortgagor will in no way rely on
Lender's inspection.
10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty Or (iny of the covenants contained in this Security
Instrument, Lender may, without notice, perform or cause'them to be perfi~ri:ned. M.o, rtgagor appoints Lender as attorney in
fact to sign Mortgagor's name or pay any amount necessary for performan~;ie. Lender s 'right to perform for Mortgagor shall
not create an obligation to perform, and Lender's failure to perform will noi~ preclude Lender from exercising any of Lender's
other rights under the law or this Security Instrument. If any construction on! the Property is discontinued or not carried on in a
reasonable rammer, Lender ~nay take all steps necessary to protect '~
Lend~.rs security interest in the Property, including
completion of the construction. ,
11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages and warrants to
Lender as additional security all the right, title and interest in and to any and all existing or future leases, subleases, and any
other written or verbal agreements for the use and occupancy of any' po3ti[)n of the Property, including any extensions,
renewals, modifications or substitutions of such agreements (all referred t~'as "Leases") and rents, issues and profits (all
referred to as "Rents"). Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases.
Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor ~s not in default under the terms of this Security
lnstrumeut.
Mortgagor agrees that this assignment is immediately effective between th~ ':
parties to this Security Instrument. Mortgagor
agrees that this assignment is effective as to third parties when Lender takes affirmative action prescribed by law, and that this
assignment will remain in effect during any redemption Period until the Sei:;ured Debt is satisfied. Mortgagor agrees that
Lender may take actual possession of the property without the necessity of ci~mmencing legal action and that actual possession
is deemed to occur when Lender, or its agent, notifies Mortgagor of default :ar, d demands that any tenant pay all future Rents
directly to Lender. On receiving notice of default, Mortgagor will endorse: and deliver to Lender any payment of Rents in
Mvrtgagor's possession and will receive any Rents in trust for Lender and wiili;not commingle the Rents with any other funds.
Any awounts collected will be applied as provided in this Security Instrument. Mortgag6r warrants that no default exists under
the Leases or any applicable landlord/tenant law. Mortgagor also agrees to mai'fitain and require any tenant to comply with the
terms ol: the Leases and applicable law.
(page 2 of 4l
(~)! 994 ganker~ Systems, Inc., St. C~oud, MN (~-800-397-2341) Form R~:-MTG-WY 11/18t94
12. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. ·Mortgagor agrees to comply with the
provisions of any lease if this Security Instrument is on a leasehold. If the F¢operty includes a unit in a condominium or a
planned unit development, Mortgagor will perform all of Mortgagor's duties ihnder the covenants, by-laws, or regulations of
the condominium or planned unit development. ",
13. DEFAULT. Mortgagor will be in default if any party obligated on the S:;:cur~d Debt fails to make payment when due.
Mortgagor will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for
the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender at any time is
insecure with respect to any person or entity obligated on the Secured Debt or. that the prospect of any payment or the value of
the Property is impaired shall also constitute an event of default.
14. REMEDIES ON DEFAULT. In some instances, federal and state law will r=~,quire Lender to provide Mortgagor with notice
of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if
any, Lender may accelerate the Secured Debt and foreclose this Security Instn;ment in a manner provided by law if Mortgagor
is in dehult.
At the option of Lender, all or any part of the agreed fees and charges, accruet:, interest and principal shall become immediately
due and payable, after giving notice if required by law, upon the occurrenc{/of a default or anytime thereafter. In addition,
Lender shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any
related documents including, without limitation, the power to sell the Properly3'. All remedies are distinct, cumulative and not
exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The
acceptance by Lender of any sum in payment or partial payment on the Secur:gd Debt after the balance is due or is accelerated
or after foreclosure proceedings are filed shall not constitute a waiver of Lend!?'s right to require complete cure of any existing
default. By not exercising any remedy on Mortgagor's default, Lender does mt waive Lender's right to later consider the event
a default if it continues or happens again.
15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS, Except when prohibited
by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Security Instrument.
Mortgagor will also pay on demand any amount incurred by Lender foi' insuring, inspecting, preserving or otherwise
protecting the Property and Lender's security interest. These expenses will bea~ interest from the date of the payment until paid
in full at the highest interest rate in effect as provided in the terms of the SeCured Debt. Mortgagor agrees to pay all costs and
expenses incurred by Lender in collecting, enforcing or protecting Lender's rights and remedies under this Security Instrument.
This amount may include, but is not limited to, reasonable attorneys' fees, c,qurt costs, and other legal expenses. This amount
does not include attorneys' fees for a salaried employee of the Lender. Thi{iSecurity Instrument shall remain in effect until
released. Mortgagor agrees to pay for any recordation costs of such release
16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As usdgi in this section, (1) Environmental Law means,
without limitation, the Comprehensive Environmental Response, Compensatib"n and Liability Act (CERCLA, 42 U.S.C. 9601
et seq.), and all other federal, state and local laws, regulations, ordinafi~c!es, court orders, attorney general opinions or
interpretive letters concerning the public health, safety, welfare, environmekt or a hazardous substance; and (2) Hazardous
Substance means any toxic, radioactive or hazardous material, waste, pollutmlt 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 def'med as "hazardous material," "toxic substances," "hazardous waste" or
"hazardous substance" under any Environmental Law.
Mortgagor represents, warrants and agrees that: ~."~
A. Except as previously disclosed and acknowledged in writing to Lend~f'i no Hazardous Substance is or will be located,
stored or released on or in the Property. This restriction does not appl?to small quantities of Hazardous Substances that
are generally recognized to be appropriate for the normal use and maintenance of the Property.
B. Except as previously disclosed and acknowledged in writing to Lender,.'; i !Mortgagor and every tenant have been, are, and
shall remain irt full compliance with any applicable Environmental Law.
C. Mortgagor shall immediately notify Lender if a release or threatened reJease.of a Hazardous Substance occurs on, under
or about the Property or there is a violation of any Enviromnental .Daw concerning the Property. In such an event,
Mortgagor shall take all necessary remedial action in accordance with axly "Environmental Law.
D. Mortgagor shall immediately notify Lender in writing as soon as Morf~i',.igor has reason to believe there is any pending or
threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or
the violation of any Environmental Law.
17. CONDEMNATION. Mortgagor will give Lender prompt notice of any Pending or threatened action, by private or public
entities to purchase or take any or all of the Property through condemnation' eminent domain, or any other means. Mortgagor
authorizes Lender to intervene in Mortgagor's name in any of the above de~icribed actions or claims. Mortgagor assigns to
Lender the proceeds of any award or claim for damages connected with a cond6mnation or other taking of all or any part of the
Property. Such proceeds shall be considered payments and will be applib, d as provided in this Security Instrument. This
assigmnent of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document.
18. INSURANCE. Mortgagor shall keep Property insured against loss by fire, ?flood, theft and other hazards and risks reasonably
associated with the .Property due to its type and location. This insurance sba2,1 ~0e maintained in the amounts and for the periods
that Lender requires. The insurance carrier providing the insurance shall be ~6E:0sen by. Mortgagor subject to Lender's approval,
which shall not be unreasonably 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 accbrging to the terms of this Security Instrument.
All insurance policies and renewals shall be acceptable to Lender and shali hiclude a standard "mortgage clause" and, where
applicable, "loss payee clause." Mortgagor. shall immediately notify Lendler" bf cancellation or termination of the insurance.
Lender shall have the right to hold the policies and renewals. If Lender requi?es, Mortgagor shall immediately give to Lender
all receipts of paid, premiums and renewal notices. Upon loss, M6rtgagor shall give immediate notice to the insurance carrier
and Lender. Lender ma), make proof of los-s if not made immediately by Mortgagor.
Unless otherwise agreed in writing, all insurance proceeds shall be applied ~o !he restoration or repair of the Property or to the
Secured Debt, whether or not then due, at Lender's option. Any applicatic.n of proceeds to principal shall not extend or
(page 3 of 4)
postpone the due date of the scheduled payment nor change the amoun.~i c,f any payment. Any excess will be paid to the
Mortgagor. If the Property is acquired by Lender, Mortgagor's right to art~, insurance policies and proceeds resulting from
damage to the Property before the acquisition shall pass to Lender to the~e;~:tent of the Secured Debt immediately before the
acquisition.
19. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be
required to pay to Lender fund~ for taxes and insurance in escrow.
20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender ,upon request, any
financial statement or information Lender may deem reasonably necessary. Mortgagor agrees to sign, deliver, and file any
additional documents or certificatibns that Lender may consider necessary to perfect, continue, and preserv~ Mortgagor's
obligations under this Security Instrumentand Lender's lien status on the Property.
21. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this
Security Instrument are joint and individual. If Mortgagor signs this Securi,;:y Instrument but does not sign an 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. If thii Security Instrument secures a guaranty between
Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim
against Mortgagor or any party indebted under the obligation. These 'rights may include, but are not limited to, any
anti-deficiency or one-action laws. Mortgagor agrees that Lender and any party to this Security Instrument may extend, modify
or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a
change will not release Mortgagor from the terms of this Security InstrUment. The duties and benefits of this Security
Instrument shall bind and benefit the successors and assigns of Mortgagor anc; Lender.
22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Sec,:~rity Instrument is governed by the laws of the
jurisdiction in which Lender is located, except to the extent otherwise ~equired by the laws of the jurisdiction where the
Property is located: This Security Instrument is complete and fully integrated. This Security Instrument may not
modified by oral agreement. Any section in this Security InstrUment, attaCh:nents, or any agreement related be amended or
to the Secured
Debt that conflicts with applicable law will not be effective, unless that law 'expressly or impliedly permits the variations by
written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be
severed and will not affect the enforceability of the remainder of this SecU~it~r Instrument. Whenever used, the singular shall
include the plural and the plural the singular. The captions and headings pr'the sections of this Security Instrument are for
convenience only and are not to be used to interpret or define the terms of thi.s Security Instrument. Time is of the essence in
this Security Instrument.
23. 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 party's address on page 1 of this Security Instrument, or to: ad:.!/ other address designated in writing. Notice to
one mortgagor will be deeme~l to be notice to all mortgagors.
24. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any ri~;ht regarding the marshalling of liens and assets
and all homestead exemption rights relating to the Property.
25. OTHER TERMS. If checked, the following are applicable to this Security I;~strument:
[] Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be
reduced to a zero balance, this Security Instrument will remain in effect Until released.
~ Consiruction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on
the Property.
L~ Fixture Filing. Mortgagor grants to Lender a security interest in all ~goods that Mortgagor owns now or in the future
and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement.
and any carbon, photographic or other reproduction may be filed of'record for purposes of Article 9 of the Uniform
Commercial Code.
~ Riders. The covenants and agreements of each of the riders checkedibel0w are incorporated into and supplement and
amend the terms of this Security Instrument. [Check all applicable boXes]
D Condominium Rider [] Planned Unit Development Rider [] O~er
[] Additional Terms.
SIGNATURES: By signing below, Mortgagor agrees to the terms and covenantSicontained in this Security Instrument and in
attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument. on the date stated on page 1. any
(Date) ~ JESKE . ' ....... · .........
ACKNOWLEDGMENT: (Date)
STATE OF ~YOMNfl .... . '
0,,d,~,~) This instrument .~.~"J~' ..... ,"~ .... .". ............... COUNTY ur.. ~r:.¢9~ .
· ,a~ ac~owieaged before me ~is 14IH ..... : .... 2 ................................ } ss.
by ~0~J~L OEfiN JESKE; ANGELA DAWN jr
.. ~j ......... ;"'"" .My commission expires: 52, [ 7 200 ~ _
· ..~ ~.~...~.. .... ~~ .............. ~:: ~ ..............
~ ~, sv,t .... ~ ~ COU~ 3F ~ STA~ OF
. . , nc,, St. Cloud, MN (1-a00-397-2341} Form RE-MTG-Wy 11/18/94 ~ UNCOL}~ ~OMING