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RECEIVED 10/13/2006 at 11 :25 AM
RECEIVING # 923329
BOOK: 636 PAGE: 779
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Space Above This Line For Recording Data
MORTGAGE
DATE AND PARTIES. The date of this Mortgage (Security Instrument) is June 15, 2006. The parties and their
addresses are:
MORTGAGOR:
ABNER LUMAN
P.O. Box 645
Pinedale, Wyoming 82941
,
.
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LENDER:
FIRST NATIONAL BANK OF PINEDALE
Organized and existing under the laws of Wyoming
P.O. Box 519
61 E. Pine Street
Pinedale, Wyoming 82941
1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and
to secure the Secured Debts and Mortgagor's performance under this Security Instrument, Mortgagor grants,
bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property:
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See Exhibit 'A I attached hereto and made a part hereof;
The property is located in Lincoln County at , , Wyoming .
Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and
replacements that may now, or at any time in the future, be part of the real estate described (all referred to as
Property). This Security Instrument will remain in effect until the Secured Debts and all underlying agreements
have been terminated in writing by Lender.
2. MAXIMUM 'OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at anyone time
will not exceed $30,125.00. This limitation of amount does not include interest and other fees and charges validly
made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms
of this Security Instrument to protect lender's security and to perform any of the covenants contained in this
Security Instrument.
3. SECURED DEBTS. The term "Secured Debts" includes and this Security Instrument will secure each of the
following:
A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
replacements. A promissory note or other agreement, No. 110066974, dated June 15,2006, from Mortgagor
to lender, with a loan amount of $30,125.00 and maturing on December 15, 2012.
B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
Instrument.
4. PAYMENTS. Mortgagor agrees that all payments under the Secured Debts will be paid when due and in
accordance with the terms of the Secured Debts and this Security Instrument.
5. PRIOR SECURITY INTERESTS. With regard to any other mortgage, 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 the 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,
6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments,
ground rents, utilities, and other charges relating to the Property when due. lender may require Mortgagor to
Abner Luman
Wyoming Mortgage
WY /4sgulbranOO9371 00005188038061506Y
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provide to Lender copies 0 a I notices t at suc amounts are ue an t e receipts eVI encmg ortgagor s
payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security
Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses
Mortgagor may have against parties who supply labor or materials to maintain or improve the Property.
7. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt
to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance,
transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law
(12 C.F.R. 591), as applicable.
8. WARRANTIES AND REPRESENTATIONS. Mortgagor has the right and authority to enter into this Security
Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
Mortgagor or to which Mortgagor is a party.
9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition
and make all repairs that are reasonably necessary. Mortgagor will not commit or allow any waste, impairment, or
deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor
agrees that the nature of the occupancy and use will not substantially change without Lender's prior written
consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's
prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against
Mortgagor, and of any loss or damage to the Property.
Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of
inspecting the Property. Lender will give Mortgagor notice at the time of or before an inspection specifying a
reasonable purpose for the inspection. Any inspection of the Property will be entirely for Lender's benefit and
Mortgagor will in no way rely on Lender's inspection.
10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this
Security Instrument, Lender may, without notice, perform or cause them to be performed. MÇ>rtgagor appoints
Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. Lender's right
to perform for Mortgagor will not create an obligation to perform, and Lender's failure to perform will not 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 manner, lender may take all steps necessary to
protect Lender's security interest in the Property, including completion of the construction.
11. DEFAULT. Mortgagor will be in default if any of the following occur:
A. Payments. Mortgagor fails to make a payment in full when due.
B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf
of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the
voluntary or involuntary termination of existence by, or the commencement of any proceeding under any
present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or
against Mortgagor, Borrower, or any co-signer, endorser, surety or guarantor of this Security Instrument or any
other obligations Borrower has with Lender.
C. Death or Incompetency. Mortgagor dies or is declared legally incompetent.
D. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this
Security Instrument.
E. Other Documents. A default occurs under the terms of any other document relating to the Secured Debts.
F. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has with Lender.
G. Misrepresentation. Mortgagor makes any verbal or written statement or provides any financial information
that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
H. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor.
I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority.
J. Name Change. Mortgagor changes Mortgagor's name or assumes an additional name without notifying
Lender before making such a change.
K. Property Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money or property. This
condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
DUE ON SALE section.
L. Property Value. Lender determines in good faith that the value of the Property has declined or is impaired.
M. Insecurity. Lender determines in good faith that a material adverse change has occurred in Mortgagor's
financial condition from the conditions set forth in Mortgagor's most recent financial statement before the date
of this Security Instrument or that the prospect for payment or performance of the Secured Debts is impaired
for any reason.
12. REMEDIES. On or after default, Lender may use any and all remedies Lender has under state or federal law or
in any document relating to the Secured Debts, including, without limitation, the power to sell the Property. Any
amounts advanced on Mortgagor's behalf will be immediately due and may be added to the balance owing under
the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available
on Mortgagor's default.
Subject to any right to cure, required time schedules or any other notice rights Mortgagor may have under federal
and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts
immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a
default or anytime thereafter.
Upon any sale of the Property, Lender will make and deliver a special or limited warranty deed that conveys the
property sold to the purchaser or purchasers. Under this special or limited warranty deed, Lender will covenant
that Lender has not caused or allowed a lien or an encumbrance to burden the Property and that Lender will
specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims
Abner Luman
Wyoming Mongege
WY /4sgulbranOO9371 000051 BB038061506Y
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The recitals in any deed of conveyance will be
and demand of all persons claiming by, through or under Lender.
prima facie evidence of the facts set forth therein.
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 Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are filed will not
constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising
any remedy, Lender does not waive Lender's right to later consider the event a default if it continues or happens
agam.
13. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
Mortgagor agrees to pay all expenses of collection, enforcement or protection of lender's rights and remedies
under this Security Instrument or any other document relating to the Secured Debts. Mortgagor agrees to pay
expenses for Lender to inspect and preserve the Property and for any recordation costs of releasing the Property
from this Security Instrument. Expenses include, but are not limited to, reasonable attorneys' fees after default
and referral to an attorney not a salaried employee of the Lender. These expenses are due and payable
immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full
at the highest interest rate in effect as provided for in the terms of the Secured Debts. In addition, to the extent
permitted by the United States Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees incurred
by Lender to protect Lender's rights and interests in connection with any bankruptcy proceedings initiated by or
against Mortgagor.
14. ENVIRONMENTAl LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA,
42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney
general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous
substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or
contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public
health, safety, welfare or environment. The term includes, without limitation, any subst~nces defined as
"hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance"
under any Environmental Law.
Mortgagor represents, warrants and agrees that:
A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance is or will be
located, stored or released on or in the Property. This restriction does not apply 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, Mortgagor and every tenant have
been, are, and will remain in full compliance with any applicable Environmental Law.
C. Mortgagor will immediately notify Lender if a release or threatened release of a Hazardous Substance occurs
on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In
such an event, Mortgagor will take all necessary remedial action in accordance with any Environmental Law.
D. Mortgagor will immediately notify Lender in writing as soon as Mortgagor 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.
15. 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 described actions or
claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a
condemnation or other taking of all or any part of the Property. Such proceeds will be considered payments and
will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any
prior mortgage, deed of trust, security agreement or other lien document.
16. ESCROW FOR TAXES AND INSURANCE. Mortgagor will not be required to pay to Lender funds for taxes and
insurance in escrow.
17. CO-SIGNERS. If Mortgagor signs this Security Instrument but is not otherwise obligated to pay the Secured
Debts, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured
Debts and Mortgagor does not agree by signing this Security Instrument to be personally liable on the Secured
Oebts. If this 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.
18. WAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating
to the Property.
19. APPUCABLE LAW. This Security Instrument is governed by the laws of Wyoming, the United States of
America, and to the extent required, by the laws of the jurisdiction where the Property is located, except to the
extent such state laws are preempted by federal law .
20. JOINT AND INDIVIDUAl UABIUTY AND SUCCESSORS. Each Mortgagor's obligations under this Security
Instrument are independent of the obligations of any other Mortgagor. Lender may sue each Mortgagor individually
or together with any other Mortgagor. Lender may release any part of the Property and Mortgagor will still be
obligated under this Security Instrument for the remaining Property. 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 will bind and benefit the successors and
assigns of Lender and Mortgagor.
Abner Luman
Wyoming Mortgage
WY 14sgulbrano,o9371 00005188038061506Y
°1996 Bankers Systems, Inc., St. Cloud, MN ~
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0923329
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21. AMENDMENT, INTEGRATION AND SEVERABIUTY. This Security Instrument may not be amended or modified
by oral agreement. No amendment or modification of this Security Instrument is effective unless made in writing
and executed by Mortgagor and Lender. This Security Instrument and any other documents relating to the Secured
Debts are the complete and final expression of the agreement. If any provision of this Security Instrument is
unenforceable, then the unenforceable provision will be severed and the remaining provisions will still be
enforceable.
22. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The
section headings are for convenience only and are not to be used to interpret or define the terms of this Security
Instrument.
23. NOTICE, FINANCIAL REPORTS, ADDITIONAL DOCUMENTS AND RECORDING TAXES. Unless otherwise
required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate party's
address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one
Mortgagor will be deemed to be notice to all Mortgagors. Mortgagor will inform Lender in writing of any change in
Mortgagor's name, address or other application information. Mortgagor will provide Lender any financial
statements or information lender requests. All financial statements and information Mortgagor gives Lender will
be correct and complete. Mortgagor agrees to pay all expenses, charges and taxes in connection with the
preparation and recording of this Security Instrument. Mortgagor agrees to sign, deliver, and file any additional
documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's
obligations under this Security Instrument and to confirm lender's lien status on any Property, and Mortgagor
agrees to pay all expenses, charges and taxes in connection with the preparation and recording thereof. Time is of
the essence.
SIGNATURES. By signing, Mortgagor agrees to the terms and covenants contained in this Security Instrument.
Mortgagor also acknowledges receipt of a copy of this Security Instrument.
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MORTGAGOR: ~
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Abner Luman
Individually
LENDER:
(Attest)
ACKNOWLEDGMENT.
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This instrument was ac
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My Commi8Iion Expires March 2, 2010
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This instrument was ac owled d before me thO /;:r day of ~
Kenneth E. Transtrum as Vice President of First National Bank of Pinedale. "
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ALL I ANCE TITLE AND ESCROW
307 877 9602
P.02
0923329
000784
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LEGAL DESCRIPTION
EXHIBIT 'A'
Order No: 60 I 0615345
That part of Lot 1, the Southeast Quarter of ~e Northeast Quarter, the Southwest Quarter of
the Northeast Quarter and the Southeast Qu,rter olSeetion 3, Township 26 North Rang~ 114
West, ofthe 6111 P.M., LJncoln County, Wyoming, lying and being situate northeasterly of the
center-line of the LaBarge Creek County Ro~d No. 12-315, described as follows:
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BEGINNING at the Northeast corner of saidlSedion 3, found as described iu the Certified
Laud Corner Recordation Certificate of record in the Office of the Clerk of Lincoln County;
thence South 00°01.6' West, 1338.10 feet alode the east line ofsaid Section 3 to the Southeast
comer of said Lot 1;
thence South 35° 41.1' West, 1282.96 feet to a point;
thence South 25°35.0' West. 1186.27 feet to ~ point;
thence South 00°31.3' West, 543.05 feet to th. center.line of the Guyette Drive as shown on the
Viola Subdivision - Phue I plat of record in the said Office as Plat No. 300. said center-line
DW"ked by a 3/8" .JC 12" steel spike witnessed ~n the right-of-way line by a 5'8" steel reinforcing
rod with aluminum cap inscribe "SSLTD BIG PINEY WY RLSl64" and appropriate details;
thence North 68°]4.3' Wed, 147.90 feet alOJ1g said center-line to a 3/8" x 12" steel spike
witneøed as above; ,
thence North 21°45.7' East, 135.00 feet to a pOint;
thence North 5~lO.5' West, 566.]21eet to a poiut;
thence South 32°08.1' West, 965.00 feet to . ~/8" x 11" steel spike on the center-line ofthe
LaBarge Creek County Road No. 12-315;
thence North 58°13.9' West, the base bearing for this survey, 275.93 feet along said center-line
to a 3/8" X 12" ¡teel spike;
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thence North 24°40.8' East, 50.39 feet to a poþtt on the northeast right-of-way line of said
County Road;
thence continuing North 24°40.8' East, 4S1.4~ feet to a point;
the.nce North 17~43.5' East, 1494.88 teet to a 5/8" steel reinforcing rod with aluminum cap let
by Phillip Wayne Rosendahl, RLS No. 580; :
thence North 45°33.7' East, 339.40 feet to a 518" steel reinforcing rod with aluminum cap set by
Phillip Wayne Rosendahl. RLS No. 580; ,
thence North 31"'22.8' East, 636.67 feet to. poiut¡
theDce North 35°53.4' East. 897.54 feet to . ~oint;
thence North 24°10.4' East, 854.13 feet to a point on the north üne of said Section 3;
thence North 89"35.5' East, 422.15 feet along said north line to the CORNER OF
BEGINNING.
LESS AND EXCEPT the land contained in Warranty Deed recorded October 21,1996 in Book
389P~ on pale 537 of the records of tbe Lin~om County Clerk.
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