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000409
RECEIVED 10/27/2006 at 4:13 PM
RECEIVING # 923811
BOOK: 638 PAGE: 409
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER. WY
111.." or w,,--..
iiI*'" ~ T.IIIIo Un.. F_ ..........1 D_
MORTGAGE
(Wir.k Putuœ A~ Claase)
1. DATE AND PARTŒS. '1"111: date aftbú Mortaaae (Seçurity lutrumeot) is J~~~~............ ......... ....... ........... -0..... .
The parüt.s aDd Oleic addrea~ IU'C:
MOR.TGAGOR:
PRESTON LANDS. LLC, A W'fUMING LIMITED UABlUTY COMPANY
5'11:;1 a.IOLA WAY
ENm¡WODD, co 80111
D If ch=Jœd. refer tQ tbt: ~ Addem1um. ÌJ' g)rporaœd herein. for IIodditioÐa1 Mart8*&oes. their sÏ&DJØUnlll aod
ac.Imøwled~lIÍ5.
LENDER:
THE MNIC OF STAR YALLfY THAYNE BRANCH
ORGANIZED aND EXISTING UNDER THE LAWS Of THE STArE OF WYOMING
~,o. BOX 928
113 PETEASEN PARKWAY THAYNE. WY 1312'1
Z. CONVEYANCE. Fer aood MIld valua.blill coaøideratiou. t1w ra:c:ipt aad .~u:Ï.èsM:y of wh.Î.I:h is =kucwled¡ed. aDd w secW'e
the Secu.red Debt (def"1JIO!!d bdo.w) aod MortPlor'" pedoEJDaW:e UDder ttù.s Se:cGrily Iutl'llDltD1. Mortp:or granU. ~p.ÍD5.
--ery.. mortpjIU a.od wa.rl1U!ts to l..eader. witb power at aa1e. tlut t01l.owiq described property:
LOT 6 OF THE TOWN81Tf Of BEDFORD BLOCK 7 SECOND RUNG. TO THE TOWNSITE OF IŒDfQAO. UNCOlN ~OUNTY, WYOMIN~ AS DeSCRIBED ON THE
QfFIQAl PLAT FILED IJtI AUIiUST ,... 21XlJ ABII\IsTR1IMENT JKl.812414 OF THE R£CDftDS OF THE UJIICOlN COUNTY ClfRI(
The property il10catmi in. .'='NÇÇI.L,IL... ........ ................... __........,... ,.... ............ at .-!;I~rn~Y.t4~.~.~~~.I!~.\~.....
(c.....,) .
..,...... .. .. .... . . . .. --. , ........ .. . .. ........ . . . .. -.. . . .... .., .~~J;Ip.....,............... --..... .. .. .. .. .. ...... WyaaaU¡¡ . ~,t.li. .... -...... . . ..
(AddrMS) (Ch:7) (ZIP Ca41O)
TQ~ctber with all ri8bts, ~III ."""-.t,. ap~.. TO)'IIhia. miaeral. ci:hrs. oil. aud pi riØaU. IIll water IUJ4 riparbm riehU.
cIiU:hea, aad waleI' stock II.D4 aU enúating aød fuúuc: ~aveøæum. Btnu:tarea. f~. aDd replaoccllJwllUl dLat ..y _, or H1
a.ay time i.n tbe future, be put afthl: real.tate descclhed abo'Ye (aUrefJ::ne4 to _ -Propedy").
3. MAXJ:M'VM OBLIGA.TION LIMIT. Tba totaL pCÙll;ipoI. _lUlL secwed by this Securiry ~ at anyone tÚDt !&hall DDt
e:u:eed $ . ~~!J!:!Ç..1;!q . .. _ . _ __.. . .. . . . . __ __ . ... .. .. .. .. . . .. .... . This l..im.itat.IDn Of amaaJIi doctI IIØ£ i.ødude Ïl*re« .Ad odIer f_ aød
cbargc:lll va1l4Ly ma4e pursuam to tbis Security IuttumeDt. AIMo. tIûa 'hni...r'nlL doca DOt apply to acivuK:eJ IDIIde 1UJde1' J.b.t
teaIl. of this Sec1Uity Ù15tI:1Ime:Dt to protect Leader'. II&I:Uriiy aad to ¡oed- aay of the ~ colllaiDe4 ia tJùII Security
III6IrWDÞDt.
4. SECURED DEBT AND:BUTIJJUi: ADVANCES. TJ. term "Secun:d Debt" ÎII ~ _ fD11o....:
A. Debt. iDr;:uncc1 IIader the reaga of all. pramiPory DØte(IJ). coatnc:t(a), guanøtyJies) or other evídolmcc: oú' debt dac:ribe4
below aød ¡all th.c:ic e;UøD.!lia.... III_Mlà. œoctlf1catioDII 01' substitutiollll. (Yøw _t $JMci,jicGŒy idIrttif.y rhIt d.tIbt(s)
8..crø.d øntl YOll shøu.ld tnchu:Ø tht!: JfnM. JfI8III1'iIy dm. o.f .!Iuch ",(,},)
ONE PROMISSORY NOTE DATED 10-118-08 IN THE AMOUNT Df '200.000.00 To RONALD L ..ClaM AND MARSHA p, MClCIM
w'l'o.._ . MOIWII! I!QUITY LIllIE OF QlWgn' IIIIORTGAGIJ (NOT FeR FNM..., FHlMC. PHA 0" VA USE!
~ CD ,,'M _ Ii_ __..... 1:.....,...... "...... OCI'.ReMTG-WY 5111/20'"
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B. All future advaDCCII fn:cn Le.lldcr 10 Mort¡:a¡:ur ~r OÜUII' f~ obli&adoDJI ...r Mon&&&ur W Í;-_wt.r Wld&:c Nlj' framJssory
ÐOtC. coDtrac:&. .~y, os: odIer ~lde_e ut debt .X&:C:~ by Mortgli¡or In f!tvur of I...eød.:r dter thlt Secu.rity
lDlO'UlJlDeDt w~rar IIØt this Secun1y ~ üI .lICCifica1ly refereD"ðd. 1f OW" tÅall. OJ ;; pèr¡¡oo. IIla....lhia Seçurity
IP8tnmu:II1. eMCb .MoR&~Dr 1oiØree5 tbat thUl S~urity IDlllnw:a.eot wW ~=lUe aU f...lure advaøccs aDd fwute obliglitÍ.Ow;
lWe¡ are liIivt:ú to Dr ~lUre4 by IUQI 0_ or mon:: Mutlilì,agor. Dr _y 0.... Dr D:l.UC1!o Mortp&ur II.Dd other.IJ. AU fw:ure
MÙ1I'1O:QI,;e, a.ad utber futlUl: obi,¡:¡>HoD.II au:C jec~ed by this Secu.rity lœtrumem eyeD thou¡!h Iill or part IIUl.Y aol y. be
lio4Vanced.. AU fuuwo IU&ViAQI;O¡¡ aDd. other futUre oblî¥liIÌ.DP8 ani ac:cwed u if !Wide 00. the dw:e of this Srocurity IlIStrumc.oD1.
NothiDg Ùl ÜÙi Securiry IDstrUIl1CØ sbaU e:Ol1ðll.Í1ute \ CQJDIDibnegt to IWIII:c additL<>a>i1 or future loaWl or adva,QÇOS.II ill IiDY
amouD1. ~ .uch e:ommiImaDt uui5t be aereed. w W Ii .epa&nùA= writiBg.
C. All othe~ ~blJ.apWoDII ~,:,ncagùr awes to Leuder, wtLi&:b. way. later lUÍJ¡e, r.o the e:JlLC:Dt DOt prohibited by law. Îm;lud~,
blU not limitc:d 10. 1iabül1ui:6 for oveJ:d.t¥ttII te1aù~ to IWY depoaLt au;:C:C:OUØ1 aJ:rc.:emtDt betweel1 Mort¡agor and Lew1er.
D. All lIdditioDMl $_ advlUK>Cd and. expc:DllcfII ÌJ:1.c:I,I.CTud by LeAder Cor wuriq. pre.aerviD~ or utbJ:rwÏ&e fl'otc(:tiJ1& tbe
Pt'Operty If.Dd Ü vùw:: &ad aay ~r 8WW1 adVloII1.C:ed aDd WLpeDScs La/:a¡rn::d by LeDcUolr I.IDd.C[ tbe wnw u tlù$ S=lIrity
In.trlUDClDt.
la the cYtot thMt Lead.ec: falb tu pwvlde _y requlred Jl ;J(ÌI::e of the ri~bt of .....cia.ioa.. Leader WMivc:& il.CJ.y 5ubMC:qU¢DI .ocurily
iau::rc:llt in the Mortgagor'. pc~ipa1 dweUiq that 111 cr.....ed by thia; Scca¡rity Ù1JU1DDcDt.
M:OltTG~J!: CO~ANTS. Mort8:li¥oc _lIrec:.I üwt me covc11.lUlU ÍJ1 ~1s scc:ûon ate ma1I::rÌHl obli¡:aLio_ l.lnåcc tbe Sc:curcl1
Debt &.ad tb.iB Ss:uruy laa~øt. U MnrtJll&gur breaches allY cov~ UI. tJú¡¡ .ecdoll. Leader IDMY refuso to JUakc: al1di.cioaal
eJWònsÎODII at cn:4it aact p;du(:c tlle cro:dit llinit. By DOt ex.cn::,i¡¡iDa c:Ï1htr remedy on Mort~a¡:or'li brCðCA, I~Ddc:r 110'" Il<'Ol Wloiivc
Lewter's ript to la1.cr ""Dllidcr t.bc evcat a bretiCb. if it happeD.ll1 ~1iI.Ïa.
Pa)'DI._til. 'Mutttlaeor M¡reell tbat all ptlyzDe0t5 ul1dc:r the SCC\UÇd Debt wlU be pooìd when due IiD4 ÅD. ac£:DrWouc.e whh the.: terms
of tbe S_ureci Debt aDd. Ibis Socu.rity lastruuumL
PdQI' Security luC_u. With rtjßrd to lUJ.y Cltb.et mOl1pgc, dee4 of irIIaIt. l1CM>Iolrity ligtceJn60øt ur Cothee lieJl duc\lrJæl ; that
ç~ a prior IIUtUity In&.c:rest or eDCWnbrao¡::e UD Lhc Ptoperty. Monsa¡:Dr I>cc:ti r.o ma!-..c: all paym.eDtll wben due 11.00 1.ú
pcå'oan or c:omply with Iill coyeuntll. Mortpgor &hIo .g~J apt tu ¥lJ.ow ~y u:w4if'u;atiOll ~.. cxtcWlLnP of, 1101' to requcøt any
tuture adv~1i umk:r IUJ.Y øote or ~~at lI"",ured by the hen doc&ameøt without Leader'li pnor wril:tenl&pproval.
ClaUa6 ~ ntiIt. .Mort&a&or will pay étll ta4e1l. UIIC&IiIDeJJ.U. li&::I1S, eacwnbnDCeIi. 1_ pleLj'Wèntli. ¡:rouoo relÚS. utilitûoll,
Bud. otJu:r "hu~ea rel.at.i.Dg to tbe Property whell due. lAude-r may requlrOlS Murt&a&or to pl'uvÏ4e to t..eDd.a:r C:Opiøli of all DlXÎC;es
that 5uuh ilmoUDtI are due aDd the r~ipu. ~i4eAClal Moxteacnr' pliy¡Deot. Murtg..~or will dclead title lu the P[operty
11&.111111 aw.y claims ùwt: would ìm.pair thtt \leI!. of this S~l.Irity llIiItrumcuL. Man:,:a.gLJI: ..¡¡rees to IiIJi¡n (I) Lender, öäõ roqlWlikd
by LcDder. any riabU. c:Iaims or defe::w;e, Mort~a~or may bave MgaÏDllt partie. ....ho .upply ~bor or mw:crialli to mama..&n Cor
improve the .Property.
.Property COD"lt~oa., ~ awl IDspedlaD. Mort~ur will PíOp \he Property. ì.o. ¡ood CDDdil~1!. ILad JrUAIuo a1L rllpai....
tbat IU'e rëllllWlably DC:c:cs¡¡¡uy. Mortgagor .bI&lJ. lICIt CGDUZll( or allow any \iVa5te. Ullfllw:zuom. or deœrwradoD u{ the Pcopt:'rly.
MortKlilor q"cÇli that t.bc aa4l1re of d1c occu.p¡mc:y IU1I1 Wle will uot su¡,,"....n.....lly .:baD,gc: wi.cho\IL LcuQ~r'¡¡ pl:io( written
"ou.u:at. Murt&*.I:QC will JIIX permiJ. MoOy chaugc i.u. ilaY llceUè. reatriø.ive Qovenaøt or CI&1Iemeul witlwut Leuder' ¡ priot wriàl:n
(:OUliem. MortC&!:OI' will DOtJfy Lo=ud.el' of all ~.. procce4wç¡¡, c:11oiÙDS awi ac:lWJ1II c.llalDst MorL¥agor, ..ad gf;wy 101111 or
damagtl: Uo the Propel1Y.
Leeder or LcllAe:r'. MgelllS may. lit LeDder·. Optioll, toDtcr tbe PTnpcdy lit any œuùuabte tUnc: {or Ûle plUpú$C of lu.pcclÌD& UUO
~ope~. Lc:Ddor .ball ~e Mortgagor p~ at ~ tiIn.e. of or beforl!: aa il1.llpc:cli~1I. llpecifyin& a reu':'Da?lc pwpO.llC lor tbro
ws~üon. Any iDMpeCt10n or the Proptcrtj' liha1l b4t êa1Lrely for Lender'. bendtt and Mort.gagor will tQ DO way tely OD
Leodet" 5 Wa-pCCÙon.
A.uthority to Pedál"Dl.- If Mortgagor railiJ to perfoan NI)' du.1.y or any ot tbc ",VCII.IUlUI coøtaÍDcd i.u this Sc:r.:.uΣy 1P81.11Jmji:¡¡1.,
Leader may. wÏlhOIU AOticc. pecfonn ur c:ause Lha::m. to .be pcáoaned. MQ~or Iippoínt:B L.codcr all I&t1OcùCY in fau;:t co IIlgn
MortgHgoc's ~ or JUly any IIIIWIUIt uceaa;:ujr for pcrfOrJDall,Ce. Lender'.s C1ih1 to ~rConn tor Mu[t~":Qr llball not crell.LC an
obli&atiou to porfoan. ¡¡.Ad l..c1uiec's ~re to pcrluan wlU out proclud.c Lèa4er frum. exercÜiÏD¡: aoy of Lew:ler' i olber ri¡:l1t.s
UDder the: IIAW or tJW¡ Security lu.sicIlllJ :a1.
Leaai"'l~bí CaadœabùllllUj .PlaImed Uall Dev..Jopm_tII. MQrt:£.~oc liKcee. 1.0 c;CWlply with. tA(: provisioDli or IWY leu" i1'
thÜl Sec;:urÌ1y IIIStcQlPeat: ÍB OR Ii leM-b·.ld. If duo Property ìmåudea: Ii uaít in IoL cowtominium. or a plluw.ed wût devoLopmèl&t,
Mortpgor will pedQa:12. aU or Mgrt&a.¡:0r'. duUu l.ID4er the ,",oveoanU. by-law., ...r regu.I.aJ.wlI.II of the: coDodomiuium ar plazwcd
uDit develapmcot.
CaDdem.D8ÜCIIR. Munaa..... will give:: l..eoIier prc..mpl nut.ice of 1&IJ.'j pe&:liCÜn¥ or threMIcaa=d ac:lWn. by privM1e or publÌl: eDiíûCll to
purchali.. ur take aA9 DC aU œ tÞ Pl'upcrty thcou¡h eoDdcmDlL1i.on. emillCDL do:ø1.ain. or auy utb.<::r Il\e&ll.a. Monaagu.. iWÙlo..iJtc$
LewS..1' t.D 1uWnoCa: ÍA Mort,l:.....r'li .P:iIJ;D.f: ia any uf tboo u...."õ'e 4eac:cibed acti.oœõ or e:11ÙmB. Mort:K~Qr WUIÎgwi to 4Dder the
proceed¡¡ of IWY aWliLd. or c:1aiJ:n' fQr ~e:'" ......-t-t with a COade:a1naûð1l or other ti&kiug or. aU or twy part uf the Pl'uperty.
Such proceeds shall be coasidon::d pay¡neDtS aDd will be applieó all provided in Ui,i¡¡ S¢(:I&rø.y hwtrumeaL "fWli .....i¥mueøt w
pøu:eeWi Ùi liubjlN:t. 1.0 r.bÞ t.c:nDB af any prior II1OrtpaC. deod of tcu5t.. .c::c:~ity &J:œemø~ or other lien ÖOcu.m.=J1(.
IaiIUJ:alWe. MurtSaior IIhaU Iu:ep Property l~ured agaÎJlSt lnn by fire. ftood. tbdt and other lwzard5 JoLø4 ci.ks rcuoaahly
UIICCÍl&t:efÍ wïah the Property duo to it.II type KDd Ioc:aticn. TbÌli ÌDllII~ IlhaJl be malDlaiaeI1 in the amnUDb liLod fur the paorÏüdJò
tbat Lcodcr rc:qlÙtcII. Wbai 1..cDÀDr ffo.'qlAÌte8 pUDIwwt w the Jl'rc:cccl~ LWO seotc_ c:an c:hançe duriDg the tenn of Ú1e S.......cl!:d
Debt.. The Uu;L1ratICe r;.uríer pravid.iog ttaoi ÌD5uraACC: shall be c:ho.en by MortgL'<~or ....bj~t 1.0 LeJ1d2Ir's apprnval, w.b.ich sbalt
pot be uJ1CCiISOaabty wlthbe1d. If Mo~alor fau.. to U1õiLiøtiÚJ1 ttu: C:OV8rM¥= des~ above. LeDder may, I:Lt. Leadcr'~ optioll.
abl:aÍ.l1 covcrtloje to proœc:t Lc:uder'lI ri&bi¡; ÍIL the Property KC~rd~ (0 the U::a.w of üili ~ty lustr\lDlODt.
AU imI~ pollA;1c.II IiLDd CCDII:wab lIhaU .... ...:cor.table ~ Lc::ader .aDd llbali Wd.uåc Ii 1Jta~ -zngrt~a&:~ c:lIwse" ~, wbare
.-pplìcable, -los. pliLyee c:1aIISe. - Mort&aaor .ball ,..-nM<it.,·~y zwtify J..cm:Ic:r. af CIiID.Çe\llitWn or u:~m¡a J:t~.u of L~ ll11iur~e.
LeDÃDIr IhIill. Uvll' the ri&hI to bold the pulícw aDd rem:wa15. If Lender rC4{lW'CII. Mo~psor. aluùl tmmc:dwtel~ 11"õ'e to L"~er
all receipt.¡¡ of paid p~e¡ci_ HDI1 RODCWal ~ï=s. U~ loss:. Morta"30r Iihall ¡tve unmedude &l.QtJ.çc to tJ1<:: UUiUnUJ&:C "....1'1<=..
fUll! Lender. I.cswkr may maJœ p..aol of loa. .f not made umnediliíely by M~lI8or.
UI1I..u otherwise alre.ed in writiag" all lD.su~ pruceed. .!IhaU be appI.i.=Ø to the reIIt.oc.ulon or rt:paÎr of the
Property or In the Securod Dëbt, wbtother ur aot theo. due. at Lender'fII oplWn. Any applicöStiollo uf prncc:c:45 to
~ @,.~~. .~.InO.. 51:. C&eud....... r'orm OCP-ftEM-rca-WY BI11/.:)OC!5
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1'&"iD&::ipa1 .ha11 t;JOL o:xceaad 01" po,;tpanø the Que: Q.u: of the ac:baiu1ed pA}'DIC1Ii IlØr c:ban&e Qu-.< IUUúIUI.t of Ui:Y ~y.mcøt. Aø:y
c-.::ü wi11 be failS to the Mod;p&or. If tb.to Pi:úpcrty ¡, acquireÄ by LcDdor. MortS_jor'a right to aRY ÎWI&;¡r~ace polï.:íes &lid
procc:eda rè:IJlIl.tiD,¡ {ro.J:I1 ~. to the .1'>toperty bdoœ the acq,uiMi1wn sU1J. pd' to ~Jlder to thts ulent of the Sec:ure4 Debt
..........e<ila.~ly bcflUe the a.cql&Î5itlOll-
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Fbaaudal :&eporu aIUI AAicUtl.....' POCUIReals. MOdgagor will provide to Lender upùu requeat. au.y I1wu:K:ia.l Iitat.ema=Dt or
J.nfr.nIDII.tion LellØcl'l:::¡"'~ I'euonably _lI8ary. Mort.¡aaor &81'-" to lii&n, delivèC. &Dd elle _y addiLiøulù docUlDli:DU or
certii.....~..;__ tIaat ma.y CODSådol' IMOCCIIII&ry to poocfcOCt, c;ODtÍJmC:. aDd pJ:U!NoNe Mortp¡oc'i1 oblÏäl6Ûcw UDder this
Sccacity lDstnlIl1ÞIIÍ IUId l..cDÃCr'lI üea $talWI OIL the Fropc:rty. , :
D'VE ON SALE. Lell'ktr mII.Y. at its option, decla~ tbt e:1Iiire baIaw&Ic at ttÞo S"Dred Do:bl to be iD:Imedia.tely d.wt &IJ4 p.yable
upau the ..rcation of. ur l;OoUa.ct far tW!: crad,Q11 of. II. uamfer 01' Ii. gf all or &ll.y put of the Properly. Tbi» riaht ÚI .ubjéct t~
~ L"C5tI'1cUoas im¡oo&ed by:f~ Law (1:1 C.F.R. '91); Wi appJ.k:abù:.
DEFAULT. Mortgagoc will bé: Íá. 4efaaùt if øø.y of thø followw& 0I;aU:
had. Any COWlIQDa" Borrower eoaaaea La. fraud or mateJ:ia1 miarcpccseDtAti.on in çon.u=tioa with ~ Secured Debt that i. an
OfIell. ead home aquiry pWl.
rap:a....... ADy .Co_~ BolTOwCr 0.. au:y SecurcG Debt that λ aD. opea eM home equil.y plàn faiLs 1.0 make a payIl1lCUt WhoR
dw=.
ó.
L
:PO_pety. .Auy acU.oJ1 or iu.au::tian ~ tb.e :E!0nowec or Mort.,p¡ar ~ tbat advq-ac:1y attccU ~ Pcoperty. or I..:cDl1ec'5 ripu in
tbø P,opc::rty. This bwiuaiea. but iii DUE limJ.t&d to. the foUawÙlÆ: (Iii) Mort&agor hlliI to ......'ntal.ø. reqwred UI5~ Oll. the
Property: (b) Mart&lL&ar trll.D8Îoø the PJ:Operty; (ç} Mort&q;oc ðnn>....it.. wutll or otherwÚle de5tnu;tivc:ly uses DC faW¡ 10
TTu.lntalP the Property 1Iw::h r.bat tb.e ~iÞ... or laactWl1 MdverseJ.y a1't~ I..e.ader'. accurity; (d) Mort~ol' 1'a&1s to par I&:Iœ4 OJ1
the Pcoperty or atWorwÎllo= fai16 w a,¡;:t!iiDd. tåen:by C:M.WIèII a l!e1l to be f'aled q¥ÍllilE the ProperLy that Üi IICDioc to tÞ lito. gf t.hÚi
Scc:udty wUu.m.eDt; Ce} a ¥ok: MOlt&aaor clica; (f) If .u»C'C than ODe MortalL&or. u.y Monø;a¡:or dÎès aa4 Lc:odèt·. .ec:urjty ill
advea:.¡;ty affi:c.ted; (g) duo Property Is taken thraup ca1Î.,ut domain: (h) a. jud&DVDt is tUed agliiWt MortJi&ágor aJld IlU.bjectB
Mortpgor ¥ad tbø Pl'opCcty to actiøJ1 that aåvel'llely 1Iffed5 Leudc:r·. 1DtelQt; or (i) a prior lÎè1ÙWl.àcr t'orecla.cs. on the
Proporty aDd aJò a 1Wi\l1t. ùD4c:c', ~r'" iIIliII1v&csely aff....tcè. '
Jr.xecuth'e omeen. Aay Bouower 15 an e1U:CutÎVe off'~er Q( under or an atfWate IIJld aw;h Borwwer becamê:!l i..odebted to
Lcu4cr or IUlÞthec leadec 111. IiI1 ~gúc amount gECater th.u. the rmwuot l'''Mnirr~ WIder fede:ra11aws aDd regulatioDS_
1t1J'Ull'nms ON D.E.)¡'AULT. 10. lii44Jtioo to _y otbI:r remedy .vtù1ab1e um1c&- Ib.c: tcaDII of thls Security Iw;Uumc:IIi. Loudec
may ac:cdeœtc tIuI Securc:&1 Debt awl foR:.;ló.e tJWI Security IJllltrumeD1 ia a .m.aDDér prDvided by law if Mórtgagor is Ù1 de!auLt.
Ú& ._ ;nRT'I¡qo""",,, lcde.tal and &bILe bw will tc(juin:: LcIWier to provide Monalii¡or with DOXÌJ:;e gf th.c right to cure. DC other
DØtk:c. ami may e5Cabti.Mh time 5~Wa for torec1Q,un: IICtiowI.
Ai Itae optiol1 of tile l..cDder. idJ. oc ~ part of the agreed foea IUJÓ charp.. _rued ÎD1c::relit aDd pri.u£:ipat .tuill ~
iø;u:g,..:I~r. due aDd E*yable, after pviD& JIØtice it requiced by 1àw, UpOI1 t!w DcçurrCDQC Q1' a dd...w:t or a.oytimc: then::afu:c.
~ .... &D1itI.eci to. wirhoat Ilml..,.in... &hÞ power t:a ..ell tAe Propcny.
T~ IWQ~ by uDder or IU1Y IUlm ilL pliLymellt DC pacti&l paymeDt D.D. the SeoDred Dc:bt &ftcr the ba1uao ÎIi dIU! DC 11
~ DC aftec fg¡e¡;losW'C P1W>cc:dÏD&s al'C rùc4 .ba1J. aor CODIJÛiute . waiver or LeDaeC'5 riJCb1 to require ~e C~ of
lUl.y cxi&~ deúW.t. By apt èXeCCu:iRa: ~ remedy OR Mort&~or'. deîõW1t, L.cm4ec does DOt wal.vc: Lcadel"s righ1 to later
~_ÎÅeI' tÅ&O ev_ . Ikf.utt if' it Dappellol 1I.pUa.
P. EXl"~SES; /tJJV ÃNCES ON' COVENÃ.N'TS; ATrOaNEYS' FJCEs: COLLJI:CTlON COSTS. 11' Mort~lL&or bceaches _y
¡;:gycDll.llt ia tbÍJI s.:udty 1u.st1'1llD&Dt. Mort¡~iO' .,1'..... to pay all cxpllDIJ" Lc:radcr Uu:uu in ped-àrmln: auch c::oveuaDta or
p~ it» lIecl11"ity iøterelt ÍD. ~ Property. Such mq>cÐIIeB iDI;;1lMk, but are IIOt Uo:úted 1.0, f_1i ÎDèacred far iaspeçtil14..
t::a:vÏD&, Dr otherwi8e p~ tha Property JWd l.c:Ader'. lIIIICIUity interat. Thø5e ax.pcWlCS are p¥yabJe 011 cIe:mIuKi aDd will
1atCl'C$t tram thø d.M&o of pyD1èlll WItil ptLid i.n. fuU at the ~ øœ of blÞ>reat in effect as provided in the tCDJ1li at tbe
Secured Debt. Mort¡¡:&&QI' .arcea to pay all I;OD II.DI1 IIXpUleal iDcUlred by 1ADdc1' in collel;tina. e11farcång 01' protec:t1D¡
LeDder'1I riglús aDd n::mcdia \l..ll4C1' UWiSecuril:y I~. This amount may im:&uck. but b D<>t iimlted. to. reuo-.ble
attQrDCYIi' feu. c:olUt. co... aad QÙIðC 1eial ~D/l0Ii. Thill ~Dt does JWt iw.::&udc &t.torDèys' f=1I lor a i1aJa.ri.cc1 employee of
tboe Leødcr. To ~ CX£ea pe<£m~~ by tbe'Unitec1 State. BlUdauptcy Code, MartgaeDr .agreell to pay tÄe raasoa.ble øorneys'
fees UDder ~un to coUect Ihe Secured D~bt u awarded by .any l;Ourt excrcÏ$La.:; jurisdiction uoder- the BUllauptcy Code.
ThÏIi Sc:Qu:ity 11l8EL'\lmeat .ball remaiaiD. effea 1LaIil rdeued. Mortg¡1&or ~. to pay for a.Qy r~rdati.on costB of aw;h
n:1eaae .
10. ENVIR.ON1\l1ENTAL LAWS AN» BJo.7·...1;tDOUS SUBSTANCES. Aa UIIed ilL this 5ec:tioa.. (1) El1vua_utal Lilw~.
witbout In..;.".u.n. Ebc ~ive Envuo~ ~_. CampeDPÙOn am1 Liability A<:t (CEBCLA.. 42 U.S.C. SI601
ct seq.). aDd all othør federal. 5tat.. aDd. 1.oca1 laws, ~IIS. Qrdirlaø:es. "-OlIn orcieø. attonoey general o~ÍD.iòDS or
iul:eqoretlve letterll ¡;:ou¡;:erflÙl& tJM,: public: bea1th. Afety. weU'are. cnvicoDmCDt oc ¡a baza.rdou¡¡ subi1ta&K:c; i&.Ud (2) Haz.ardowo
8ubs~ m.oa... 1&11:¥ toxiI:, r*iUoaciivc or bazardoYa matol'Ìù. wute. pDÜiKaDt DC (;ont......in..Qt wh.ù:h bas cœtaeteruw::. whkh
reader tb.e IIQbIJU_ 4Im¡CCOWl _ 1«..nt;all,y d-acroÙII to the pubW: bc:a&th. IlaCcty. wdfare ar cnvirollllDCDl. Tkos tc:aa.
iDo=!u¡;l~JI. without li,."it-..tlnn. 1m" .~biltam::C6 det"UlCd. IU ·~dous DUI1eri<al." "toxJ.c "lIb.!I~.· "b.u.a.rdouII wute" or
"hazau;dow¡ 5~· QIIder allY EIlVUOIl1D&Dta1UW,
Mortp&or rep(CllCDt&~ w~ IUId agœu 1ba1: . . , " , .
A: BXl:Cpt u ppwwouly dÙle10sed IUJÓ ~kAøwla::ciaed ip. writïD¡: to LeDdcr. uo }b..z.ardaus S¡¡b.taJ:I¡:é: 15 or .....ill be ~d.
$1.0rti:4 or x~ 011. or in tlu:: Property. '1"hia1 J'CIIlrictÏDa doeII IlØt apply to &aWÜ qua.utitiea of HazardoWi S\abs~s tbat
IU'O gsocr.-lly rec:o¡zùzod to be appropriate fOL the mmnallllie aDd ma.l.ø.teDMZK:e of ~ p¡'opctty .
B. IbLccpE .. prcvioualy cIit.c1oaed WI.I1 acbr.owledged ÍD. ~rUiøg 10 Le~r. Mort¡a.llor aDd fSVl4ry teDaØ háve beeA. &reo Old
.ball remaia ÙI. fall .........pll.ft..~ with.any appli.c:ablc BAvlCOJIfI:LOD&a! Law.
C. Mortaa:;ol' shall immccUatdy DOIify Uuder if... teleue 01' threatcoed noleue of a Haz.ardoyz¡ SubstlU1CCl QCINCIi OIL. W1der
or about the Property QI' there '- II. Violati.aD of allY BllViromneDtal Law c;:oøcerDÌag the Propèrty. 111 liuc;n ¡an event,
Mortgagor .hIiL11 take MIl neceauryrcmød.W a.ct1ol1 Î.I1 QCCO~ witå ~ El1vÍ1'olllWm1a1 Li&w.
D- Mortga&ot 5ba.U ....._~,u..1...1y aøtiljl LcDder in wriüq &Ii 50011116 Mortp&QC baa reual). to believe: thert~ ÙlIUIY poadiq or
thrcateaDd iaveat1&aûoa.. claim, ol'proo;:CC:diAI: ~ to the relelUle or thr~ rcl.cue o!' auy H&acc10U5 s,,~ or
~ vî.o1ation of ana El1viro~ Law.
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U. ESC.R.OW FOa T4.XES AND JNSUIlANCE. UDlcsslI oth=rwise pru't~ In Ii. st:pltrate li.¡:roocmc:u1. Mort~;&.J:or will J1L-1( be
rc:quired to pl&y to Leader fam4s tal' tax.clll IUI4 WIUJI.DCc: in escrow.
13.
.TOJNT AND JNDIVIDUAL LIABILITY; CO-SIGNERS· SUCCESSORS AND ASSIGl'oIS BOUND. AU 4utlell uDder thi5
Se:CIo\tÎty IlU1iclUDlloDt a£c joint aoati IDdivlduwl.. If Mon&~&ur ;I.AOI w. S-uri.ty IWltcUlDØnl but ~ a.<>I dgn an cvi4.,uc... of W:b~.
MÐrtgaauc doc. o oaly to .nwrt&al:. Mortga¡ac' J IJUcre.¡t in ~ Property 10 1IC(;\lre ~ytDCn[ af the S=lOIred Debt ...DC1
Mortg"30r ~Ii DOt apee tu be peCllODMlly 1i.ab1e un the Sec:unod Debt. If t.b.üi; Sec.urity IWllrlUJJð1lt MCYreIl a g\&.&raDiy betweea
LèDder aud Mortla~or. Mortca::ar ~gteea 10 waive IilAY ri~ that may prevent l..cwJer from briDgiøe 4UIY _t~&I or claUn
a¡;:¡¡iI151 Mort¡:;a.¡or ur any part)' iDG.ahUtd uøder the obli.¡atinn. These ri¡:hl.s may lDcludc. bIU arr.: IWt Umlt.ed lu. lUly
aunl-4ef1cicDCg or nw=-MCtioa law., The duties IUI4 beAØfibi 01' r.nïs Sec::urity lusU'\1lW:1Ù 1ib.1ù1 biod auad be_fit: the Suc.c:eIl.DIJ¡ .ad
IIUÍØJ1II of Mart8~¥or aDd. LC&J4et.
SEVEIi1AJIILI'1'Y; INTERPRETA.TION. Tbis security lQSlr1;aDjen! is camplete ¡u¡d fWiy i~e~J"atcd. This SecuritS' ínsuumclIL
may ont be ~ßåed or ~1fied by 01~ .1I.K~. Any section In lhis Scc.urily l~rument. an~hments. or any a¡n::è:meJlt
rehWod &ú the So:c:w-ed Debt that c.o.DfJicU whh applK:&bLe i4w will IWt be cl'1',;ctive, uUÙ::..» that law eXpressly ar ÏW¡Ili.eóLy
po:::ruUu tbc v.da.ù.ous by wrÎttatn Ilgre&meDL. U Jl.tl.y .odÏ<m of tJW¡ Socc:utify lA.'ilrum.ent c:annut be eaforccd ~c4in¡: (0 its
terIw;, thai JlcaloA will be sevw;cd ø.Då will DUl: affect the c:nf~rc.eabiIiLy of the r........in.del· <:>f ~ Sec:.urity 1~tn&rAeøt. .WhA::~er
used, tb.c:: 'i.o¡ular Iihall iududc the pltA.-.l JUId the piunal the 8Ul,CIÙIIC. The captiuns &Ad beadingll1 of tblt lIèCtlODS of 1hu: Senrity
hun:.rum.øt are for copv~. only 1IIJ3d are DOt t.o be aued. (0 ÌII1crprtll ur defiJae the tcaw¡ of ÙÙ» S~urity lw;trUUleut. Tim&::: j¡¡
of ÚI¢ _~ In tIWI .s.:urity IDlOttUment.
14. NOTICE. 11 DLaiIl oth.erwÎJle required by law. any IJütU;o sball be giveA by ddiveriq it or by ma.iliD.¥ if by firal <:.lIiS ¡ mail to
the approprUttc party'. aa1c1reu on päge 1 of IbiJ¡ Seçurity 1115tCUØ1enl. or Iú any other öddreall¡ w,1Ii&raaœd in writio :. Nolú:o::: to
Due ¡port,gagor will be deem<ðd. tü be DOtk::c w aU mo&1: tqotJl.
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15. W AIVE:aS. Bx=p¡: tü dl.c _I.cat prohibito:::d by Law. Munga¡Dr waives a.a.y ri¡:1I1 reaard¡nll i:he IW\I'lIhailling 01' lielUl IUI4 aJlleU
aDd Mil h-.tiuui excmptioA rigbis rBlM1Ülg to ~ Prapeny.
16. LINE O. CItEDIT. Tu. St.:cured Deb&. ÍlaCluØeJ & n::volvia& ÜI¥::: of credit. Altboup the Secured Debt ltI.Iity be rcciye;cd to It.
uru ~e, thill Security bu;a.rumøøt wiU rema<iD in effect until released.
17. APPLlCA.BL£, LAW. ·11û. Sec:\UÌ.ly lustrwncIJ1 is /i!.""....D£:d by the law. liS a~reed Lu in the S,",urè:Ù Debt. exc:c:pr to tJIe ..>deDI:
req~ by the wwlii of tU jlLrial4ia.lDD wh.eœ the Property As I.ocatc::d. IW4 appJiClAble federaJ wwa; áM re~IÙJl[ÎL>Wi.
IS. pmF.·IZR. Tbo:: c:civeDaAU and agr~1IL1i of ach or the rider5 cla.ecIœd beluw a.ce UI.corporllUd into .uuJ ¡¡UpplalmcllL IiWd amend
tha: tOm:JJI of thi5 Security InstL"Ulnl.::IJ1.
(Check ..u app&abh:: boxe.]
o A5s~. of LeJUldJ It.1Id Ib::1Wò 0 Otbc::r........... .............. ...... .......... ............. ._................... ......... ,.............
19. 0 ADDrrIONAL TJtIIMS.
SIGNATVBES: By 1i.gAåq betow. Murtgagor ligrees to the tetmll IUJd coveJllUW¡ cootaiw:d in tbil Sccyrity IllStnm1l':ut aDd ÍA JUly
Ktt..dIWP.nt6. Mortaqor alia JM::kJ109l1edgcs receipt u! a copy of this Sec1aity IutruJDent DA ihc.wu: &talcd un paao J.
PRESTON lANDS. LLC
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by ...~~._k-..!;f.~~~..MW.~?IM-..:r.,..n~¡~.....~I!iM..QJ!.:. '" a.:' J.~.................. .
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