HomeMy WebLinkAbout923876
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RECORDATION REQUESTED BY:
FIRST NATIONAL. BANK - WEST
Aflon
314 South Washington St.
P.O. Box 1620
Aflon, WY 83110
RECEIVED 10/30/2006 at 4:11 PM
RECEIVING # 923876
BOOK: 638 PAGE: 684
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
000684
WHEN RECORDED MAIL TO:
FIRST NATIONAL. BANK - WEST
Anon
314 South Washington St.
P.O. Box 1620
Anon, WY 83110
RIVED 5/12/2006 at 2:01 PM
RE G # 918282
BOOK: 619 AGE: 705
JEANNE WA R
LINCOLN COUNTY CLERK, KE ERER, WY
SEND TAX NOTICES TO:
FIRST NATIONAL. BANK - WEST
Afton
314 South Washington St.
P.O. Box 1620
Afton. WY 83110
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
MORTGAGE
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THIS MORTGAGE dated April 28, 2006, is made and executed between DONDEE LOUIS AULlMAN (referred to
below as "Grantor") and FIRST NATIONAL BANK - WEST, whose address Is 314 South Washington St., P.O.
Box 1620, Afton, WY 83110 (referred to below as "Lender").
GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to Lender all of Grantor's right, tille, and interest in and to
the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements,
rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (Including stock In utilities with ditch or irrigation rights); and all
other rights, royalties, and profits relatirlg to the real property~ includlnij wlthoutlimllation all minerals, oil, gas, geothermal ahd similar matters (the
"Real Property") located in LINCOLN County, ::»tate of Wyoming: '
SEE AlTACHED EXlBIT "A"
The Real Property or its address is commonly known as DOUBLE EAGLE RANCH ROAD, THAYNE, WY 83127.
Grantor presently assigns to Lender all of Grantor's right, title, and Interest in and to all present and future leases of the Property and all Rents from the
Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents.
THtS MORTGAGE,lNCLUDtNG THE ASStGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL. PROPERTY, IS
GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (8) PERFORMANCE OF ANY AND ALL OBlIGATtONS UNOER THE NOTE,
THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to lender all amounts secured by this Mortgage
as they become due and shall striCtly perform all of Grantor's obligations under this Mortgage.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the
following provisions:
Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain In possession and control of the Property; (2) use,
operate or manage the Property; and (3) collect the Rents from the Property.
Duty to Maintain. Grantor shall maintain the Property In good condlUon and promplly perform all repairs, replacements, and maintenance
necessary to preserve its value.
Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of the
Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe that there has been,
except as previously disclosed to and acknowledged by lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use,
generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the
Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any person relating
to such matters; and (3) Except as previously disclosed to and acknowledged by lender in writing, (a) neither Grantor nor any tenant,
contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, Ireat, dispose of or release any Hazardous
Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable federal, state,
and local laws, regulations and ordinances, including without limitation all Environmental Laws. Grantor authorizes lender and its agents to enter
upon the Property to make such inspections and tests, at Grantor's expense, as lender may deem appropriate to determine compliance of the
Property with this section of the Mortgage. Any inspections or tests made by lender shall be for lender's purposes only and shall not be
construed to create any responsibility or liability on the part of lender to Grantor or to any other person. The representations and warranties
contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor hereby (1) releases and
waives any future claims against lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any
such laws; and (2) agrees to indemnify and hold harmless lender against any and all claims, losses, liabilities, damages, penalties, and expenses
which lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Mortgage or as a consequence of any use,
generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or interest in the Property,
whether or not the same was or should have been known to Grantor. The provisions of this section of the Mortgage, including the obligation to
indemnify, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and shall not be
affected by lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the
Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the
right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without lender's prior written consent.
Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without lender's prior written
consent. As a condition to the removal of any Improvements, lender may require Grantor to make arrangements satisfactory to lender to replace
such Improvements with Improvements of at least equal value.
lender's Right to Enter. lender and lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to
lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of Ihis Mortgage.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in
effect, of all governmental authorities applicable to the use or occupancy of the Property. Grantor may conlest in good faith any such law,
ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified lender in
writing prior to doing so and so long as, in lender's sole opinion, lender's interests in the Property are not jeopardized. lender may require
Grantor to post adequate security or a surety bond, reasonably satisfactory to lender, to protect lender's interest.
Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those acts set
forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Mortgage:
Payment. Grantor shall pay when due (and in all events prior to delinquency) aU taxes, payrolllaxes, speciallaxes, assessments, water charges
and sewer service charges levied against or on account of the Property, and shall pay when due all claims for work done on or for services
rendered or material furnished to the Property. Grantor shall maintain the Property free of any liens having priority over or equal to the interest of
Lender under this Mortgage, except for those liens specifically agreed to in writing by Lender, and except for the lien of laxes and assessments not
due as further specified in the Right to Contest paragraph.
NOTE: This serves to correct the
recorded May 12, 2006 in Book 619
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Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to
pay, so long as Len.der's ~nterest ~n th~ P~op.erty is .n~t j~opardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen
(15) days after the lien anse~ or~ If a lien IS flied, within fift~en (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if
requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient
to di.scharge the lien plus any costs and reaso~able attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under
the lien. In any contest, Grantor shall. defend ~tsell and Lender and shall satisfy any adverse judgment before enforcement against the Property.
Grantor shall name Lender as an additional obligee under any surety bond furnh¡hed in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the laxes or assessments and shall
authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
Property.
Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished or any
materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work s~rvices
or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay th~
cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Mortgage:
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
coinsurance clause, and with a standard mortgagee clause in favor of Lender. Policies shall be written by such Insurance companies and In such
form as may be reasonably acceptable to Lender. Grantor shall deliver to Lender certificates of coverage from each insurer containing a
stipulation that coverage will not be cancelled or diminished without a minimum of thirty (30) days' prior written notice to Lender and not containing
any disclaimer of the insurer's liability for failure to give such notice. Each insurance policy also shall include an endorsement providing that
coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person. Should the Real
Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Grantor
agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is located in a
special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the
maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for
the term of the loan.
Application of Proceeds. Grantor shall promplly notify Lender of any loss or damage to the Property If the estimated cost of repair or
replacement exceeds $1,000.00. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the lIasualty. Whether or not
Lender's security is impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the
reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply
the proceeds to restoration and repair, Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender.
Lender shall, upon satisfactory proof of such expenditure, payor reimburse Grantor from the proceeds for the reasonable cost of repair or
restoration if Grantor is not in default under this Mortgage. Any proceeds which have not been disbursed within 180 days after their receipt and
which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this
Mortgage, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds
any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear.
LENDER'S EXPENDITURES. If Grantor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims, (B)
to provide any required insurance on the Property, or (C) to make repairs to the Property then Lender may do so. If any action or proceeding Is
commenced that would materially affect Lender's interests in the Property, then Lender on Grantor's behalf may, but is not required to, take any action
that Lender believes to be appropriate to protect Lender's Interests. All expenses incurred or paid by Lender for such purposes will then bear Interest
at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part
of the Indebtedness and, at Lender's option, will (A) be payable on demand; (S) be added to the balance of the Note and be apportioned among
and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term
of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Mortgage also will secure payment of
these amounts. The rights provided for In this paragraph shall be in addition to any other rights or any remedies to which Lender may be enlitJed on
account of any default. Any such action by Lender shell not be construed as curing the default so as to bar Lender from any remedy that It otherwise
would have had.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Mortgage:
Title. Grantor warrants that: (a) Grantor holds good and marketable title of record to the Property In fee simple, free and clear of all liens and
encumbrances other than those set forth in the Real Property description or In any tltJe Insurance policy, tille report, or final title opinion issued in
favor of, and accepted by, Lender In connection with this Mortgage, and (b) Grantor has the full right, power, and authority to execute and deliver
this Mortgage to Lender.
Defense of Title. SUbject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against the
lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's tille or the interest of Lender under this
Mortgage, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party In such proceeding, but Lender shall be
entitled to participate in the proceeding and to be represented in the proceeding by counsal of Lender's own choice, and Grantor will deliver, or
cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation.
Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws,
ordinances, and regulations of governmental authorities.
Survival of Promises. All promises, agreements, and statements Grantor has made in this Mortgage shall survive the execution and delivery of
this Mortgage, shall be continuing in nature and shall remain in full force and effect until such time as Grantor's Indebtedness is paid in full.
CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Mortgage:
Proceedings. If any proceeding in condemnation is filed, Grantor shall promptJy notify Lender in writing, and Grantor shall promptly take such
steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding, but Lender shall be
entilled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause to
be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation.
Application of Net Proceeds. If all or any part of the Property Is condemned by eminent domain proceedings or by any proceeding or purchase
in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness
or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs, expenses,
and attorneys' fees incurred by Lender in connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmentallaxes,fees
and charges are a part of this Mortgage:
Current Taxes, Fees and Charges. Upon request by Lender, Grantor shåll execute such documents in addition to this Mortgage and take
whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shell reimburse Lender for all
taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Mortgage, Inctuding without limitation all
taxes, fees, documentary stamps, and other charges for recording or registering this Mortgage.
Taxes. The following shall constitute taxes to which this section applies: (1) a specific lax upon this type of Mortgage or upon all or any part of
the Indebtedness secured by this Mortgage; (2) a specific lax on Grantor which Grantor is authorized or required to deduct from payments on
the Indebtedness secured by this type of Mortgage; (3) a lax on this type of Mortgage chargeable against the Lender or the holder of the Note;
and (4) a specific lax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor.
Subsequent Taxes. If any lax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same
effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor
either (1) pays the tax: before it becomes delinquent, or (2) contests the lax as provided above in the Taxes and Liens section and deposits with
Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
SECURITY AGREEMENT; FtNANCING STATEMENTS. The following provisions relating to this Mortgage as a security agreement are a part of this
Mortgage:
Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixlures, and Lender shall
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<09~387G 091.828?~...
Loan No: 64003340
MORTGAGE
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000686
Page 3
have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect and continue Lender's security
interes.t in. the Personal Property. In addition to recording ~his Mortgage in the real property records, Lender may, at any time and without further
authonzation from Grantor, file executed counterparts, COpies or reproductions of this Mortgage as a financing statement. Grantor shall reimburse
Lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Grantor shall nol remove, sever or detach the
Personal Property from Ih.e Property. Upon default, Grantor shall assemble any Personal Property not affixed to the Property in a manner and al a
place reasonably convenlenl to Grantor and Lender and make II available to Lender wilhin three (3) days after receipl of written demand from
Lender 10 the extenl permitted by applicable law.
Addresses. The mailing addresses of Grantor (dab lor) and Lender (s8Cl,lred party) from which information concerning the security Interest
granted by this Mortgage may be obtained (eech as required by the Uniform Commercial Code) are as slated on the first page of this Mortgage.
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating 10 further assurances and attorney-ln-facl are a part of Ihis
Mortgage:
Further Assurances. AI any time, and from lime 10 time, upon request of Lender, Granlor will make, execute and deliver or will cause 10 be
made, executed or delivered, to Lender or 10 Lender's designee, and when requesled by Lender, cause to be filed, ;ecorded, refiled or
rerecorded, as the case may be, al such times and in such offices and places as Lender may deem appropriale, any and all such mortgages
deeds of Irusl, securily deeds, security agreements, financing stalements, continuation statements, Inslruments of further assurance, certificales:
and other documents as may, in Ihe sole opinion of Lender, be necessary or desirable in order 10 effectuate, complele, perfect, continue, or
preserve (1) Grantor's obligations under Ihe Note, this Mortgage, and the Related Documents, and (2) the liens and security inlerests crealed
by this Mortgage as first and prior liens on the Property, whelher now owned or hereafter acquired by Granlor. Unless prohibited by law or Lender
agrees to the contrary in wriling, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred 10 In
Ihis paragraph.
Attorney-in-Fact. If Grantor fails to do any of the Ihings referred to In the preceding paragraph, Lender may do so for and in the name of Grantor
and at Grantor's expense. For such purposes, Granlor hereby irrevocably appoints Lender as Granlor's attorney-in-facl for the purpose of
making, execuling, delivering, filing, recording, and doing all olher Ihings as may be necessary or desirable, in Lender's sole opinion, 10
accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. If Granlor pays alllhe Indebledness, Including withoullimitation all fulure advances, when due, and otherwise performs all the
obligations imposed upon Grantor under Ihis Mortgage, Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and suitable
statements of lermination of any financing statemenl on file evidencing Lender's security Inlereslln the Renls and the Personal Property. Grantor will
pay, if permitted by applicable law, any reasonable lermination fee as delermined by Lender from time to time. :
EVENTS OF DEFAULT. At Lender's option, Grantor will be In defaull under this Mortgage if any of the following happen:
Payment Default. Grantor fails 10 make any payment when due under the Indebtedness.
Default on Other Payments. Failure of Granlor wilhin the time required by this Mortgage 10 make any paymenl for !axes or Insurance, or any
other paymenl necessary to prevent filing of or 10 effect discharge of any lien.
Break Other Promises. Granior breaks any promise made to Lender or fails tø perform prompUy at the time and strictly in the manner provided In
this Mortgage or in any agreement related to this Mortgage.
False Statements. Any representation or stalement made or furnished to Lender by Grantor or on Grantor's behalf under this Mortgage or the
Related Documents is false or misleading In any malerial respecl, either now or at the time made or furnished.
Defective CoJlaterallzatlon. This Mortgage or any of Ihe Related Documents ceases to be In full force and effect (including failure of any collateral
document to create a valid and perfecled security inlerest or lien) at any time and for any reason.
Death or Insolvency. The death of Granlor, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any
assignment for the benefit of creditors, any type of credilor workout, or the commencement of any proceeding under any bankruptcy or Insolvency
laws by or against Grantor.
Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Grantor's property in which Lender
has a lien. This includes taking of, garnishing of or levying on Grantor's accounts with Lender. However, if Grantor disputes In good faith whether
the claim on which the taking of the Property Is based is valid or reasonable, and if Grantor gives Lender written notice of the claim and furnishes
Lender with monies or a surety bond satisfaclory 10 Lender to satisfy the claim, then this default provision will not apply.
Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not remedied
within any grace period provided therein, Including wllhout limitation any agreement concerning any Indebtedness or olher obligation of Grantor to
Lender, whelher existing now or later.
Events Affecting GUarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any
of Ihe Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity
of, or liability under, any Guaranty of Ihe Indebtedness. In the event of a death, Lender, at Its option, may, but shall not be required to, permit the
guarantor's estate to assume unconditionally the obligations arising under the guaranty In a manner satisfactory to Lender, and, in doing so, cure
any Event of Default.
Insecurity. Lender in good failh believes Itself insecure.
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default and al any time thereafter but subject to any limitation in the
Note or any limitation in Ihis Mortgage, Lender, at Lender's opllon, may exercise anyone or more of Ihe following rights and remedies, In addition to
any olher rights or remedies provided by law:
Accelerate Indebtedness. Lender shall have the right at Its option without "'tice to Grantor to declare the entire Indebtedness immediately due
and payable, including any prepayment penalty which Grantor would be reqUired to pay.
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under
the Uniform Commercial Code.
Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property, including during the pendency of
foreclosure, whether judicial or non-judicial, and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and
above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any lenant or olher user of the Property to make
payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Granlor irrevocably designates Lender as Grantor's
attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds.
Payments by lenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made,
whether or not any proper grounds for the demand existed. Lender may exercise Its rights under this subparagraph either in person, by agent, or
through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the power to
protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the
proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond If permitted by law.
Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a
substantial amount. Employment by Lender shall nol disqualify a person from serving as a receiver.
Judicial Foreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest In all or any part of the Property.
Nonjudicial Sale. Lender may foreclose Grantor's interest in all or In any part of the Property by non-judicial sale, and specifically by "power of
sale" or "advertisement and sale" foreclosure as provided by statute.
Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebtedness due to
Lender after application of all amounts received from the exercise of Ihe rights provided In this section.
Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise
becomes entilled to possession of the Property upon default of Grantor, Grantor shall become a lenanl at sufferance of Lender or the purchaser
of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the Property
immediately upon the demand of Lender.
Other Remedies. Lender shall have all other rights and remedies provided Ih this Mortgage or the Note or available at law or in equity.
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Sale ~! th~ P~operty. To the ,extent permitted by applicable law, Grantor hereby waives any and all right to have the Property marshalled. In
exercISing Its rights and r~medles" Lender shaH .be free to seU aU or any part of the Property together or separately, in one saie or by separate
sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property.
No~lce of Sale. Lender will give Grantor r~so~ble notice of the time and p~ace of any pUblic sale of the Personal Property or of the time after
which any pnvate sale or, other Intended dlsp.os tio.~ of the Personal Property IS to be made. Reasonable notice shall mean notice given at least
ten (10) days before the lime of the sale or disposItion. Any sale of the Personal Property may be made in conjunction with any saie of the Real
Property.
Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. An election by Lender to
choos~ anyone remedy will not bar Lender fro"! using any other rem~~y. If Lender ~ides to spend money or to perform any of Grantor's
obligations under this Mortgage, after Grantor s failure to do so, that decIsion by Lender will not affect Lender's right to declare Grantor in default
and to exercise Lender's remedies.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Mortgage, Lender shall be entitled to recover
such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and
to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of
its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate
from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under
applicable law, Lender's reasonable attorneys' fees and Lender's legal expenses whether or not there is a lawsuit, including reasonable attorneys'
fees after default and referral to an attorney not Lender's salaried employee and expenses for bankruptcy proceedings (including efforts to modify
or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records,
obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees and title insurance, to the extent permitted by
applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law.
NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice of default and any notice of sale shall be given
in writing, and shall be effective when actually delivered, when actually received Þy telefacsimlle (unless otherwise required by law), when deposited
with a nationally recognized overnight courier, or, if mailed, when deposited In thl United Slates mail, as first class, certified or registered mall postage
prepaid, directed to the addresses shown near the beginning of this Mortgage. All copies of notices of foreclosure from the holder of any lien which
has priority over this Mortgage shall be sent to Lender's address, as shown near the beginning of this Mortgage. Any person may change his or her
address for notices under this Mortgage by giving formal written notice to the othlt' person or persons, specifying that the purpose of the notice is to
change the person's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise
provided or required by law, if there is more than one Gra~tor, any notice given by Lender to any Grantor is deemed to be nO\ice given to all Grantors.
It will be Grantor's responsibility to tell the others of the notice from Lender. ,
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage:
Amendments. What is written in this Mortgage and in the Related Documents Is Grantor's entire agreement with Lender concerning the matters
covered by this Mortgage, To be effective, any change or amendment to this Mortgage must be in writing and must be signed by whoever will be
bound or obligated by the change or amendment.
Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to interpret or define the
provisions of this Mortgage.
Governing Law. This Mortgage will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the
laws of the State of Wyoming without regard to Its conflicts of law provisions. This Mortgage has been accepted by Lender In the State
of Wyoming.
Choice of Venue. If there is a lawsuit; Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Lincoln County, State of
Wyoming.
No Waiver by Lender. Grantor understands Lender wUl not give up any of Lender's rights under this Mortgage unless Lender does so in writing.
The fact that Lender delays or omits to exercise any right will not mean that Lender has given up that right. If Lender does agree in writing to give
up one of Lender's rights, that does not mean Grantor will not have to comply with the other provisions of this Mortgage. Grantor also
understands that if Lender does consent to a request, that does not mean that Grantor will not have to get Lender's consent again if the situation
happens again, Grantor further understands that just because Lender consents to one or more of Grantor's requests, that does not mean Lender
will be required to consent to any of Grantor's future requests. Grantor waives presentment, demand for payment, protest, and notice of dishonor.
Grantor waives all rights of exemption from execution or similar law in the Property, and Grantor agrees that the rights of Lender in the Property
under this Mortgage are prior to Grantor's rights while this Mortgage remains in effect.
Severability. If a court finds that any provision of this Mortgage is not valid btshould not be enforced, that fact by Itself will not mean thet the rest
of this Mortgage will not be valid or enforced. Therefore, a court will enforee the rest of the provisions of this Mortgage even if a provision of this
Mortgage may be found to be invalid or unenforceable.
Merger. There shall be no merger of the interest or estate created by this M6rtgage with any other interest or estate in the Property at any time
held by or for the benefit of Lender in any capacity, without the written consant of Lender.
Successors and Assigns. Subject to any timitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be binding upon
and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor,
Lender, withoul notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness by way of
forbearance or extension without reieasing Grantor from the obligations of this Mortgage or liability under the Indebtedness.
Time Is of the Essence. Time is of the essence in the performance of this Mortgage.
Waiver of Homestead exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of
Wyoming as to all Indebtedness secured by this Mortgage.
DEFINITIONS. The following words shall have the following meanings when used In this Mortgage:
Borrower. The word "Borrower" means DONDEE LOUIS AULLMAN and Includes all co-signers and co-makers signing the Note and all their
successors and assigns.
Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to
the protection of human health or the environment, Including without limitation the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub.
L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery
Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto.
Event of Oefault. The words "Event of Defaulr mean any of the events of default set forth in this Mortgage in the events of default section of this
Mortgage.
Grantor. The word "Grantor" means DONDEE LOUIS AULLMAN.
Guaranty. The word "Guaranty" means the guaranty from guarantor, enMer, surety, or accommodation party to Lender, Including without
limitation a guaranty of all or part of the Note.
Hazardous Substances. The words "Hazardous Substances" mean materlalt that, because of their quantity, concentration or physical, chemlcai
or infectious characteristics, may cause or pose a present or potentiai hazal'dte human health or the environment when improperly used, treated,
stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very
broadest sense and include without limitation any and ail hazardous or toxic substances, materials or waste as defined by or listed under the
Environmental Laws. The term "Hazardous Substances" also includes, withoullimitation, petroleum and petroleum by-products or any fraction
thereof and asbestos.
Improvements. The word "Improvements" means all existing and future Improvements, buildings, structures, mobile homes affixed on the Reai
Property, facilities, additions, replacements and other construction on the Real Property.
Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related
Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents
and any amounts expended or advanced. bX Lender to discharge Grantor's ~blig~Ii0":S or expenses incurred by Lender to enforce Grantor's
obligations under this Mortgage, together wllh Interest on such amounts as provIded In this Mortgage.
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Loan No: 64003340
MORTGAQi:
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000688
Page 5
Lender. The word "lender" means FIRST NATIONAL BANK - WEST, its successors and assigns. The words "successors or assigns" mean any
person or company that acquires any interest in the Note.
Mortgage. The word "Mortgage" means this Mortgage between Grantor and L.ender.
Note. The word "Note" means the promissory nole dated April 28, 2006, In the original principal amount of $200,000.00 from
Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the
promissory note or agreement. The maturity date of this Mortgage is July 1, 2006.
Personal Property. The words "Personal Properly" mean all equipment, fixtures, and other articles of personal property now or hereafter owned
by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of,
and all substitutions for, any of such property; and together with all proceeds (Including without limitation all insurance proceeds and refunds of
premiums) from any sale or other disposition of the Property.
Property. The word "Properly" means collectively the Real Property and the tttrsonal Property.
Real Property. The words "Real Property" mean the real property, interests àt'IØ rights, as further described In this Mortgage.
Related Documents. The words "Related Documents" mean all prolWlsory notes, credit agreements, loan agreements, environmental
agreements, guaranties, security agreements, mortgages, deeds of trU$t, security deeds, collateral mortgages, and all other instruments,
agreements and documents, whether now or hereafter existing, executed in cöhnectlon with the Indebtedness.
Rents. The word "Rents" means all present and future rents, revenues, Income, issues, royalties, profits, and other benefits derived from the
Property.
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE, AND GRANTOR AGREES TO ITS TERMS.
GRANTOR:
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INDIVIDUAL ACKNOWLEDGMENT
STATE OF \ftIV~I'ny
COUNTY OF L, Yt cO 1 ""'-
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ROXIE ÆNKINS NOTARY PUBLIC
COUNTY OF . STATE OF
UNCOlN WYOMING
MY COMMISSION EXPIRES APRil 4. 2010
On this day before me, the undersigned Notary Public, personally appeared DONDIE LOUIS AlI..LMAN, to me known to be the Individual described In
and who executed the Mortgage, and acknowledged that he or she signed the MOrtgage as his or her free and voluntary act and deed, for the uses
and purposes therein mentioned.
Given LI- hand and off laI seal this
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Exhibit A
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A portion ofthe Moon property, as referred to in the Deed recorded in Book 240PR on page
656witb the Office ofthe Clerk of Lincoln County, Wyoming within the Southeast Quarterof
Section 26, Township 34 North Range 119 West of the 6th P.M., Lincoln County, Wyoming, the
metes and bounds being more particularly described as follows:
BEGINNING at a point in the Center Line of the 60 feet wide Non-Exclusive Right-of-way, as
referred to in the Deed recorded in Book 170PR on Page 548, with said Office, said POINT OF
BEGINNING, being 31.15 feet South 18°22'48" East from the Lloyd B. Baker .PElLS 698, 1994
. location for the Northwest corner of said Southeast Quarter;
thence South 89°33'12" East, along said center line, 410.00 feet;
thence South 0°35'06" West, 574.81 feet;
thence North 83°40'20" West 413~18 feet to a point in the West line of said Moon property;
thence North 0°42'14" East, along said West line, 532.48 feet, to the POINT OF BEGINNJNG.
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