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RECORDATION REQUESTEO BY:
·1st Bank
Alpine
100 Groy. River Rd.
P.O. Box 3110
Alpine. WY 8312B
000'527
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WHEN RECORDED MAil TO:
1st Bank
Alpine
100 Greys River Rd.
P.O. Box 3110
Alpine, WY 83128
RECEIVED 11/17/2006 at 10:39 AM
RECEIVING # 924518
BOOK: 640 PAGE: 527
JEANNE WAGNER
._.~'N~~~~ ~O~.~~ _~~:RK, KEMMERER, WY
SEND TAX NOTICES TO:
1.t Bank
AlpIne
100 Groys River Rd.
P.O. Box 3110
AI Ine 1 8
MORTGAGE
MM and STEPHANIE R
as "Grantor") and 1 st
o below as "lender"}.
THIS MORTGAGE dated November 15. 2006, Is made and executed between ARON l FR
FROMM. whose address is PO BOX 1863. EATONVlllE. WY 98328 (referred to belo
Bank, whose address is 100 Greys River Rd.. P.O. Box 3110. Alpine. WY 83128 (referred
GRANT OF MORTGAGE. For valuable con.ideratlon, Grantor mortgagea and conveys to lendar all of Grantor's ri
the following described raal property, together with all existing or subsequently erected or affixed buildings, provements and fixtures; all
easement.. right. of way, and appurtenances; ell weter, water right., watercourse. and· ditch rights (including stock in utilities with ditch or
irrigation rights); and all other right., royaltie., and profits relatinq to the real property, including without If itation all minerai., oil, gas,
geothermal and similer matters, (the "Real Property") located In LINCOLN County, State of Wyom ng:
lOT 13 OF TRAil CREEK SUBDIVISION, LINCOLN COUNTY. WYOMING. ACCORDlN TO THAT PLAT FILED
APRil 3. 2002 IN THE OFFICE OF THE LINCOLN COUNTY CLERK AS PLAT NO. 196 F
The Real Property or Its address is commonly known as ALPINE. WY 83128.
Grantor presently assigns to lender all of Grantor's right, title, and interest in and to all present and future lease of the Property and all Rents
frof'l1 the Property. In addition, Grantor grants to lender a Uniform Commercial Code security interest in the Perso al Property and Rents.
THIS MORTGAGE, INCLUDING THE ASSIGNMeNT OF RENTS AND THE SECURITY INTEREST IN THE RENTS A D PERSONAL PROPERTY. IS
GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBl GATIONS UNDER THE NOTE,
THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ÖN THE FO OWING TERMS:
PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to lende all amounts secured by this
Mortgage es they bacome due and shall sUictly perform all of Grantor's obligations under this Mortgage.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession ond use of th Property shall be governed by
the following provisions:
Possasslon and Use. Until the occurrence.of an Event of Defautt. Grantor may (1) remain in po.session a d control of the Property: (21
use, operata or manage the Property; and (3) collect the Ronts from the Property.
Duty to Maintain. Grantor shall maintain the Property in good condition ond promptly perform all repairs, r plocemonts, ond maintenonce
necessarY,to preserve its vllue.
Compliance With Envlronmontollaws. Grantor reprasents ond warrants to lender that: (1) During the pel·Od of Gro"tor'. ownorshlp of
the property,.thore has. been n. o usa, g.enorotlo.n, manufacture, storage, It. .eatmen. t, disposal, release or t.hreat .ned release of any Hozardous
Substonce by any person on, under, about or from the Property; (2) Grantor hos no knowledge of, or re son to believe that there has
been, except as previously disclosed to and ocknowledged by lender in writing, la' any breach or violati of any Environmental laws,
(b) any use, generation, monufacture, storage, treatment, disposal, release or threatened release of any H ardous Substance on, under,
about or from tho Property by any prior owners or occupants of the Property, or Ic) any actual or threot ed litigotion or claims of ony
kind by any person relating to such matters; and (3) Except as previously disclosed to and acknowledged b lender In writing, tal neither
Grantor nor any tenant. contractor. agent or other authorized user of the Property shall use, generate, manu· cture, store, treat, dispose of
Or relaase any Hazardous Substance on, under, about or frOm the Property; and Ib) any such activity sh. I be conducted in compliance
with a.1I apP.lic.ab Ie fe dera.I' state., and 10C. a.'.la.ws. r.egUlo. tio n.s..ond . or. din ancea., includ.ing. without lim ita.tion a "¡.E nVironm. enta.l.laws . Grantor
authorizes lender and Its agents to enter upon the Property to make such inspections and tests, at Grantor's xpense, as lender may deem
appropriata to datermina complianca of the Property with this section of the Mortgaga. Any Inspections or. ests mode by lender sholl be
for lender's purposoa only and oholl not be construed to create any responsibility or liobility on tha part of le der to Grontor or to any other
person. The representations and warranties contained herein are based on Grantor"s due diligence in nvestigating the Property for
Hazardous Substances. Grentor hereby (1 releoses and waIves any future claims against londer for in emnlty or contribution in the
ovent Grantor becomes· lioble for cleanup or other costs under any such lows; ond (2) agrees to indemm . defend, and hold harmless
lender ageinst any and ell claims, losses. liabilities. damages, penalties, and expenses which Lender may Irectly or indirectly sustain or
suffer resulting fr.om a br.ea. ch Of.t.h. is sectio. n of the Mortgage or a.s a consequence of any use, generation. ¡anUfacture, sto...rage, disposal.
release or threatened release'occurring prÎor to Grantor"s ownership'or interest in the Property.. whether o· not the same was or should
have been k.nown to Grantor; The provisions of this section of the Mortgage. including the obligation to ¡nde nily and defend. shall survive
the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and ShJII not be affectad by lender·.s
acquisition of any interest in the Property, whether by foreclosure or otherwise.
Nul.ance, Waste. Grontor shall not couse, conduct or permit ony nuisance nor commit. permit, or suffer on .. suipping of or waste on or to
the Property or any portion of the Property. WithOut limiting the generality of the foregoing, Grantor will noiremove, or gront to any other
party the righno remove, any timber, minerals (Including 011 and gas), coal, clay, scoria, soil, graval or rock oducts without Lender's prior
written consent.
Removal of Improvements. Grantor shall.not demoli~h or remove any Improvements from the Aeal propertY!WithOut lender's prior written
consant. As a condition to the removo' of any Improvements, lender mey require Grantor to make arrange",enta sotisfoctory to lender to
reploce such ImJ1'ovaments with Improvemants of ot least equal value.
lendar's Right to Enter. lender and lender's agents and representatives may enter upon the Real Property a all reasonable times to ottend
to lander's interasts and to inspect the Real Property for purposes of Grantor'a compliance with the tarms an conditions of this Mortgage.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, an regulations, now or hereafter
in effect. of all governmental authorities opplicable to the use or occupancy of the Property. Grantor may ontest in good faith any such
law, ordinance, or rogulotion and withhold compliance during any proceeding, including appropriate appeels, 0 long o. Grontor has notified
Lender in writing prior to doing so ond so long as, in lender's sole opinion, lender'. interests in the Prope ore not jeopardized. lender
may require Grantor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect ender's interest.
Duty to Protect. Grantor agro_e,s neither to abandon or Isavfi unattendc<;f the Property. Grnotor shall do all ther acts, in addition to those
BCts set forth above in this section. which from the character and use of the Property are reasonably neeess ry to protect and preserve the
Property. .
TAXES ANO LIENS. The following provisions reloting to the taxes and liens on thl! Property ore part of this Mortgige:
..,OM'. G..~, .,.. ,., ..... .. ""' · .. .~.. .., · """q~~" ." ..... ""... ."'.. "T ,,~.. ......~... ..."
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092451.~;
loan No: 764004Ö08
MORTGAGE
. (Continued)
000528
Page 2
charges and sewer service cherges levied against or on account 01 the Property, and shall pay when due all laims lor work done on or lor
services rendered or material furnished to the Property. Grantor shall maintain the Property free of any liens eving priority over or equal to
the interest of Lender under this Mortgage, except for those liens specificelly agreed to in writing by lender, nd except lor the lien of taxes
and assessments not due as further specified in the Right to Contest paregraph.
Right to Contest. Grantor may withhold payment 01 any tax, assessment, or claim in connection with a good faith dispute over the
obligation to pay; so long es lender's interest In the Property is not jeopardized. Ir a lien arises or is mJd as a result of nonpayment,
Grantor shall Within fiftaen (15) days after the lien arlsas or, if a lien Is filed, within fifteen (15) days after qrantor has notice 01 the filing,
secure the discharge of the lien, or If reque. sted by Lender, dePOSit. with Lender cash or a sufficient corporatr 8uret.y bond or O.1her security
satisfactory to lender In an amount sufficient to discharge the ilenplus any costs and reasonable attorneys' fees, or other charges that
could accrue as a result 01 e I.oreclosure or sale under the lien. In any contest, Grantor shall defend itselr ard Lender end shall satisly any
adverse judgment belore enforcement against the Property. Grentor shall name lender as an additional f· bligee under eny surety bond
furnished in the contest proceedings.
Evlden ce of pay.ment. Grantor shall upon demand furnish to Lender s atls. factory evidence 01 pa. yment of the. xes or assessments and shall
authorize the appropriate governmental official to deliver to Lender at any time a written statament of the xes 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 te. asserted on accou~ 01 the
work, services, Dr materials.. .Gr intor W.iII upon request of Lender f. urnish to Lender advance assurances satifactory to Lender that Grantor
can and will pay the cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Mo gage;
Malntenanca of Insurance. Grantor shall procure and maintain policies of lire Insurance with standard exten ed coverage endorsements on
a replacement basis for th.e fun insureble value covering all Improvements on the Real Property'in an amounlSUffiCient to avoid application
01 any coinsurance clause. and with a standard mortgagee clause in favor of Lender. Policies shall be writte by such insurance companies
and In such form as may be reasonebly acceptable to lender. Grantor shall deliver to lender certificates f coverage from each Insurer
containing a stipulation that coverage will not be cancelled or diminished without a minimum of thirtyt30 days' prior written notice to
Lender and not. containing any disciail1)er of the. insurer's liability for fa.ilure to give such notice.. E.ach ins.ura ce policy also shall include an
endorsement providing that coverage in favor of lender will not be Impaired in any way by any act, omissi. or default of Grantor or any
other person. Should the Real Property be located in en area desÎgnated by the Diractor of the Federal Emer¡ency Manegement Agency as
a special flood hazard aree, Grantor a g r.ees to obtain an. d maintein Federe' Rood Insur. ance, if ava lIa. b Ie, for t e full unpaid principal balance
of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set unde the National Flood Insurance
Program, or as otherwise required by Lender, and to maintain such insurence for the term of the loan.
Application of Proceeds. Grantor shall promptly notify lender of any loss or damage to the Propeny if t e estimated cost of repair or
replacement exceeds $1,000.00. lender may make proof of loss if Grantor lailsto do so within lifteen (151 ays of the casualty. Whether
or not Lender's security is impaired, Lendar may, at Lender's election, receive and retain the proceeds OJ any in.urance ond apply the
proceeds to the reduction of the Indebtedness, payment of any lien affecting the. Property, or the restoratio and repair of the Property. If
Lender elects to apply the proceeds to restoration and repair, Grantor shall repair or replace the damaged o ,destroyed Improvements in a
manner satisfactory to lender. Lender .hall, upon satisfactory proof of such expemfrture, payor reimburse Grontor from the proceeds for
the reasonable cost of repeir or restoration. If Grantor is not in default under this Mortgage. Any proceeds ~hiCh have not been disbursed
within 180 days after their receipt and which Lender has not committed to the repair or restoration of tha pro~rty shall be used first to pey
any amount owing to Lender under this Mortgage, then to pay accrued interest. and the remainder, il any, s II be applied to the principal
balance of the Imfebtedness. If Lender holds any proceeds alter peyment in full of the Indobtedness, such pr ceeds shall be paid to Grantor
as Grantor's interests may appear.
lENDER'S EXPENDITURES, II. Grantor fails [A) to keep the Property free of.all taxes, lie os, security interests, en~lumbrances, and other cJeims.
18) to provide any required Insurance on the Property, or (C) to make repairs to the Property then lender ay do so. II any action or
proceeding is commenced that would materially affect Lender's interests in the Property. then Lender on Gre tor's behalf may. but is not
required to, take any ection that lender believes to be appropriate to protect lender's interests. All expenses rcurred 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 lend to 1he date of repayment bV
Grantor. All such expenses will become a part of the Indebtedness and, at lender's option, will (A) be payable on demand; (8) be added to
the balance of the Note and be apportioned among and be payable with any installment payments to becorne due during either [I) the term 01
any epplicable insurance pOlicy; Dr (2) the remaining term of the Nota; or (CJ be treated as a belloon payment hich 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 righlsor any remedies tp which Lender may be entitled on account of any default. Any such ction by lender shall 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 marketeble title of record to the Property in fee sitPle, free and clear of all liens
and encumbrances other than those set forth in the Real Property description or in any title insurance policy, tie report. or final title opinion
Issued in favor of. and accepted by, lender In connection with this Mortgage. and (b) Granlor has the full ight. power, and authority to
execute and deliver this Mortgage to lender. J
Defense of Titla. Subject to the exception In the paragraph above. Grantor warrant. and will forever defend e title to the Property agoinst
the lawful claim sof all persons. In the even.t any. ac.tion or proceeding is commenced that questions Grant.or' title or the interest of Lender
under this Mortgage. Grentor shell defend the ection at Grantor's expense. Grantor may be the nominal arty In such proceeding. but
lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counse of Lender's own choice, and
Grantor will deliver, or ceuse to be delivered. to Lender such instruments as lender may request from time to time to permit such
participation. f
CompUance With Laws. Grantor wartants thatthe Property and Grantor's use of the Property complies w' all existing eppliceble laws.
ordInances. and regulations of governmental authorities.
Survival 01 Promises. All promises, agreements, ond statements Grantor has made in this Mortgage shall suive tha execution and delivery
of this Mortgage. shall be continuing in nature Bnd shall remain in. full force and effect until such time as Gr: ntor's Indebtedness is paid in
M I
CONDEMNATION. The following provisions relating tocondamnation proceedings are a part of this Mortgage:
Proceedings. If any proceeding in cond. amn. ation is filed, Grantor shall promptly notify lender in wrlting,a¡ Grantor shall promptly take
such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal arty in such proceeding, but
lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel I its own choice, and Grantor
will deliver or cause to be delivered to lender such instruments and documentation as may be requested br Lender from time to time to
permit such participation.
Application of Net Proceeds. If all or any part of the Property is condemned by amlnant domein proceeclngs or by any proceeding or
purchase in lieu. of condemnation. La. nde, may at Its election require that all or any. portion of tha net procer s of the .award be applied to
the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean t e 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 governmental taxes.
fees and charges are a part o/this Mortgage; I
Current Taxes. Fees and Charge.. Upon request by Le.nder, Grantor shall execute such documents In additIon to this Mortgage and take
whatever other action is requested by Lender to perfect and co~inue lander's lien on the Re.~! pro. perty. Gra.ptor shall reimburse lender for
all taxes, as dascribed below, together with all expenses incurred in recording, perfec~jng 9r continuing this Mortgage, including without
limitation all taxes, fees, documentary stamps,and other chorges for recording Dr registerinp this Mortgage. ¡
Taxes. The following shall constitute texes to which this section applies: (1) a specific tax upon this type of Mortgage or upon aU or any
part of the Indebtedness secured by this Mo.rtgage; (2) a specific tex on Grantor wh!!1p J:¡r ltltor is euthoriz1,.d or required to deduct from
payments on the Indebtedness secured by thiS type of Mortgage; (3) a tax on this type of Mortgage chargebble against the lender or the
holder of the Note; and (4) a specific tax on all or any portion of tha Indebtedness or 01'1 payments of ~inc pal and Interest made by
I
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d~245'17
Loan No: 764004Ö08
MORTGAGE
(Continued)
Page 3
006529
Grantor.
Sub..quent Tox,.. If any tax to. which thi. ·s8ction applies is enacted subsequent. to tho date of this Mort ago. this event shaJl have the
same effoct os an Event of Dofoult, and lender m.y oxercise .ny or all of its available remedies lor an Eve 01 DefauJt as provided below
unless Grantor .Ither 111 pays the tax before it bec;om.s dellnquont. or (21 contests the tax os provide .bove in the Taxes and liens
section and depl)sits with lender cash or .sufficl.nt corporate suraty bond or other sacurity satisfactory to f·nder.
SECURITYAGREf.MEN.· T: FINANCING ST.ATEMENTS. Tha fQlfowing provisions ra;ating to this Mortgage· as a s urity agreament are a pan 01
this Mortgage: .
Security Agreóment. This .insttumem shall constituta ,a Security Agreement tQ the extent eny of the prJerty cQnstitutas fi><turln, and
lender shaU hava aU of the rights of a eecured party under the Uniform Commercial Code ås amended from ti . eta time.
Secu~lty .Inter...t, Upo. n r.e.Ques.t bY. lender, Gre~~o. r shail 11. ka.. whatev.er action~s requested by~end.r to ·erfect and continue ~ender's
securrty Interest in the Personal 'property. In addItion to recor~lng this Mongege In the real property rócord lender mey, at any tIme end
without further authorlution from Grantor, file exéclJtedcounterparts, copies or reproductions ot this Mort tage as a financing statement.
Grantor shall reimburse L.nd.r for allexpens.s Încurr.d in perjacting or continuing this security Interest, pon default, Grontor shalf ·not
remov., sever or C eiach [he Personal Propeny fr:om thePr()perty, Upon detault, Orantor shell ..semble.n Personal Property not .fflxed
10 the Property ïna in~nné( .nd ét e ·pleca r...onably ·cpnvanient t<). Graritor and lender .nd make it avail ble to lendar within three (3)
days after receipt of written demand from Lender to the extentpermined by applicable law.
Addr.II~I. The ~~!lin~ add(~s~.s of ~rantor (debtor) and lender (secured party) from which information ç néerning the security Interost
granted by this Mortgage may ba obteined ¡each es requited by the Uniform Commerci.' Code) ar. OS s. tod on the first p.ga of this
Mortg.g._
FURTH.ER ASSURANCES: ATTORNEY-iN-FACT. The following provisions raloting to turther asaurances .nd art rna'(-in-fact ara a part of this
Mortg.ge: ..
Furth.r A..ur.n.... At .ny time. .nd from time to time, upon r.questof Lender, Gr.ntor will make, execu . and deliver, or will cáuse to
be made, execl,lted or deliver.d, to lender or to lendar's designee. and when reques[ed by L.nder, ceuse [. be tiled. record.d, refiled. or
rerecorded, as ·the .ase may be, .t such time. and in such offices and· places .s lender may de.m appropriat , any and all such mortgages.
deeds of trust~ ~~tur ~ dè.eçf5. sf;curÎty ~g(øliÌrp.ents. 'financing stafe'menu, continuation statements, in$( ments of further assurance.
«;;erûficates, and oth~r documents B$ 'may. in the sole opinion of Lender. _~ n,ecessary or dssir¡ibl_s in order to -effectuate, complet~, perfect.
continue, or preserve (1) .Grantor's obligations under the Note, thi. ·Mortgege, and the Related Pocum. nts, and (2). the Jiensand
.ecurity interests .reated by thi. Mortg.ge es first and prior liens on tha Prop.rty, whether.ngwownèd or ete.fter acquir.d by Gr.;'tor.
Unles. prohibited by law or lender .gree. to the contrary in writing. Orantor sh.1I reimburse tender for aU osts and expenses incurred In
connection w·ith the marier.· riterr.d to In this ¡ieiligr.aph. . ... . _
Attorn.y-in·Fa.t.lf Grentor t.ils to do eny 01 the thIngs referred to In tho pre.eding paragraph, Lender ma do so for and in the name of
Grentor and at Orantor's expense. For .uch purposes, Grantor hereby Irrevoc.bly appQints Lender as Gr ntor·. .ttorney-in-Ia.t for the
purpose of making, exe.uting, delivering, filing. recording, and doing .U other things a. may be necessary or desirable, in Lender'. sole
opinion, to accompU'sh the matters referred to in the preceding paragraph.
FULL PERFORMANCE. If Grantor ¡'..ya ¡jllth.lnd.btedn.... ¡ncluding without lIínitation aU future advance., whe due, end otherwise performs
all the obligations Imposed up·ori OlantOr .under this Mortg.ge, Lender shall execute and deliver to Or.ntor f suit.ble s.tisfaction 01 thl.
Moitgag. end suitable statements of termination at .ny fln.ncing 'Ut.m.nt on lile evid~ndnQ l.nd.r's securlt~ interest in the Rents and the
Personal Property. Gran~or ~UI P~V;. if per.mined by applicable law, any reasonable termination fee as determined y Lender from time to time.
EVENTS OF OEFAUÜ'. At l.ndar·, optIon, Gr.ntor will be in defeult und.r this Mortg.ge if eny of the following hppen:
Payment Dafault. G·rantor I.Ustq make aný peyrrienr when due undor the Indebtedness.
Default on O!her Payments. F.llure of Grantor w/tti1n the. time required by trus Mongage to make .ny payent lor taxes or insur.nce. or
.ny other p.yment necessary to prov!li1t filing of (ir to effect dlscherge of .ny lien.
Bra.k. Other Promises; Grantor breaks .ny promise m.de to lender or f.iI, to perform promptly at Ihe II e and· strictly In the manner
provided in this Mortg.ge or in·.ny agreemant ¡.'.·[ed to this Mortgage. .
FalsI $titem.nts. Any'representaüon or statement made or ;urnlshedlo Lenderby'G"rantor or on Granior's behalf under this Mortgage or
the Related Documents ïs t~ls~ or misisading In any material respèc~. either now 'or at the time made or tUfniS ed.
Dolacti.. co. ua.tereruation. .ThiS Mo. rtg. e~e or any at t.he Re.lated DOC. "m..ent.s cea.es to be In full fo.rce and rttect (including f.ilUre. of an. y
collataral document to creeta.·. v.lIC and perfected security intere.[ or fien) at .ny time .nd lor eny roason.
Dooth or Insolv.nèy. The:de.th of Grantor, the insolven.y of GI.ritor, the eppointment of a receiver for any ,ait of Grantor's proPerty, any
assignment for tha benefit of creditors, any type of credi'tor workout, or the commencement of .ny proce ing under .ny bankruptcy or
insolvency Jaws,by or agaips-t Grantor. .
Taklrig 01 theProparìy. Any creditor <)f¡jovarnmentar.gency trie. to take .ny of the Property or .ny othel ·f Grantor's property in which
lender h.s . lien. This IncJud.s taking of. g.rnishing alar I.vying on Gr.ntor·s ..counts with lender. H wever. if Orantor disput.. in
good laith wh.ther the claIm 0i1 whiCh ¡he taking.of the Property is bs.sed I. valid at reason.ble. .nd if Or.n r give. Lender written notice
of the claim .nd furnishes L.nder With móni.s or a suretY bond utisfactory to Latíder to satisly the cl.im. han [his default provision will
not apply.
Br..ch ofOth.r Agroemarit. Ar,y ·breach byOiantor under the t.ini, of any other agreement betweeri antor and Lend.r that is not
remedied within any gr,~, period P.'ovi~,d therein, including w:ithout limitaûon any àgr8ement concðfni 9 any indebtedness ot other
obligetlon of Grantor to lender, -vhether existing now or J.t.r. .
Events Aff.cñngG~atantor,' Any o't (he preceding 'events occurs with respect to any gUÐrantPr~ endorser, s rety, or accommodadon party
of .ny .01 tho InØ.btedne's or any guarantor, endorser, .urety, O( açcommodation party di.. or become· incompatent. or revokos or
disputes tho validity of, o(üiability under, .ny Gùerenty of the Ind.btedness. In ·the event 01 a d.ath, Lend. . at its option, may, but sh.II
not be: rsquired -to, p~rmit' toe guaran.tor"s 8sta18, to as~ume unconditIonally the obligatiofU arising und r the guaranty in a manner
satistaC[ory to L.nder, and~ indolrig so. cureeny Event at D.f.ult.
·In..curlty. Leriderln goodf¡jllh believe" it..lf insecu,..
RIGHTS AND REMEDI¡;S QN DEFAULT.. UpØn the.occurronce 01 en Event ofDefeult.nd.t .ny time thei~after. L nder. at Lender's option. mey
exercise ariy one Of more ò{the 'fQllawing right¡ aod remedies. in addition to any o~h8r 'rights 'or'remedie$ provided, by la~;
Accele. rata Ind'b.t.edne... Len.d~rsh811 h.... the right at it. option WithO.ut n. oticeto Grontor to declere the eJ[ire Indeb[ednass. immedl.tely
duo and payable,iricludlrig any prep..Yment pen.lty which Granlor would be required to pay.
UCC Remedies. With r..p..ct t.O.·.8.'I\>r. en..y p.rt of the .personal. Property, Lender shall have all the rights enr. remedies of a ·secured p.rty
under the Uniform Commerçlal ~J¥!e. .
Colle.t Renis.. lender sh.1I hay.ethe right, without notice to Grantor, to t.ke PQssession at the PrQperty, inq,.uding during the penden.y of
foreclosure. wh.e[her jUdicial of'p.pÍ¡~jyPici.l, an·d collect the R.nt.,lncl.uding a."'o~nts past due and unp~íd. .np apply the net proceeds, over
.nd above lend.r's costs, ¡i~,iQ'f the Indebte~ness. .In funher.nce of thIS fight. lender m.y requIre ant tenant, or other user, 01 [he
Property to.m.ke p.ym.nt. 0.1. , . or use fees d f.ctly to lender. .If tne Rants .,ecoliectsd by lender, then prantor (revoca~ly deSIgnates
Lende~ 85 GrBntor!sattorne:v _.,to ~ndÇJr~·e_ instl'ufl1e.nts received_in payment ~e.(eo_f in the na~e of arat'?l and to ~egotlate the same
and collect the proceeds. p'. eiÙs -~by tenai'ts or ;olher users to Lender in response to, Lender's den\and ðUsatrsfy the obligations fOf
whichthepsymenu are ma' , i whether or not any proper grounds for the demand exis\ed. Lender m.y exercise its rights under this
subparagrð.ph either in p_SfSOf\, by agent, 9' through ~ receiver. . .
~D.P.~.I.nt R.8Ce..IV8.r... L.~.nd .... r .'h. a.lI. have...tha.. .rig.ht. to heve.. ". .recei,.ver.~poin~ed t..otake po ~se..SSiQ. n. of all or any anof the prOP8.rty,. wIth the
If to protect .nd pr.servs the Property. to operate. the.. ..,:: ':;;,:",eceding fore.losure or sele. and p collect the f!ents
~ > .Jrty .nd ap·ply the proceeQs, over ànd .bove the cost of:~. . ..:': .,:.:./ifship, against the Indebtedness. T e rece.ivar may serVE ..
h........rf jf ru>....nÎtr....rf h,-, bu.} 1 ",nrt",,.'q rìnht to fhA ;;r,nonintmanr of B leceiver shall -exist whether or not the apparent value of the Property
/
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032451.7
loan No; 764004008
MORTGAGE
(Continued)
pageCÆ) 05:1 0
\,
Nonjudlclàl Sale. Lender may foreclose Grantor's interest in all or in any part of the Property by non'judlcial Ie, and specifically by 'power
of sale' or 'edvertisement and sale' foreclosura as provided by statute.
Deficiency Judgment. . If permitted by epplicable law. Lender mey obtain a judgment for any deficiency rem inlng in the Indebtedness due
to Lender after application of all amounts received from the exercise of the rights provided in this section.
Tenancy 01 Suflerance. If Grantor remains in possession of the Property after the Property is sold as provi d above or Lender otherwise
becomes entitled to possession of the Property upon default of Grentor, Grantor shall become e tenant t suffarance of Lender or the
purchaser of the Property and shall,at Lander's option, either .(11 pay e reasonable rental for the use of ï· Property, Or (2) vacate the
Property immediately upon tha dam and of Lender.
Other Ramadles. Lender shall have all othar rights and remedies provided in this Mortgage or the Note or av lable at lew or in equity.
Sale of the Property. To the extent permitted by applicable law. Grantor hereby waives any and ~II right to have the Property marshalled.
In exercising its rights and remedies, Lendar shall ba frae to sell all or any part of the Property together 0 separateiy. in one sale or by
separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property;
,...." ., S... ","",.m",w ,~.., ,....~'" ~". .. '" ,_ ... ,,~. .. ." ..." ... .. "" , ,..,,,. ,,,_ " ..... ...,
after which any private sale or other intended disposition of the Personal Proparty is to be made. Aeaso able notice shall mean nouce
given at ,Ieost ten 1101 days belorethe time of the sale or disposition. Any sala of tha Personal Property 10 ba made in conjunction with
any sale of the Aeal Property.
Election of Aemedles. All of Lender's rights and remedies will be cumulative 'and may bé exercised elan 'or togather. An election by
Lender to choose any ona remedy will not bar Lender from using any other remedy. If Lendar dacides to spe mo~y or to parform any of
Grantor's obligations under this Mortgage, after Grantor's failure to do so. that deCision by Lender will not fleet lender's right to declara
Grantor in default and to exercise Lender's remedias.
Attorneys' fees; Expenses. If lender instiMes any suit or action to enforce eny of the terms of this Mortgge, lender shall be entitled to
recover such sum 8$ the Court may adjudge reasonahle as attorneys' fees at trial and upon any appeal. Wh . her or n01 any court action is
involved, and to the extent not prol11bitedby law, all reasonable expenses lender incurs that in lender's opi ron are necessary It any time
for the protection of its interest or the anforcement of. Its rights shall become a part of the Indebtedness pay ble on demand and shall béar
interest at the Note rate from the date of the expenditure until repaid. Expanses covered by this paragr h include, without limitation,
however subject to any limits under applicable law..lender·s reasonable attorneys' fees and lender's legel e;enses whether or not there is
a .Iawsuit¡. including reasonable attorne.ys'.. fees and expanses for bankruptcy proaeedings .(including ··eff rts.,to modify or· vecate any
automatic stay or injunction). appesls, and any anticipated post-judgment collection services, the cost of se. r~hing records, obtaining title
reports (including foreclosure reports), surveyors' reports, and appraisal fees and title Insurence. to the exte t parmlttad by applicable law.
Grantor also will pay any court costs, in addition to ell other sums provided by law.
NOTICES. Any notice required to be given under this Mortgage. including without limitation any notice of default nd any notice of sale shall be
given in writing, and shall be effective when actually delivered, when actually received by telefecsimila (unless at rwise required by lawl, when
deposited with a nationally recognized overnight courier, or, If mailed, when deposited in the United States ail. as first class, certified or
registered mail postage prepaid, directed to the a.ddresses shown near the beginning of this Mortgage. All copies of notices of foreClosure from
the holder of any lien which has priority overthis Mortgage shall ba sent to lender's address, as shown naar e béginning ofthis Mortgage.
Any person may change his or her address for notices under this Mortgage by giving formal written notice t the other person or persons,
specifying that the purpose of the notice is to change the person's address. for notice purposes. Grantor agrees. 0 keep lender informed at all
times of G. ranto .r's C.u..r.r en.t.add.ress. U. nleS.S.Otherw ¡58 prO.Vid ed or reQ.Uire...d by law, if the re.is more than one G.ra. nt·.r,. any notice 9.iven by Lender
to any Grantor is deemed to be notice given to all Grantors. It will be Grentor's responsibility to tell the others of e notice from lender.
MISCELLANEOUS PAOVISIONS. The following miscenaneous provisions are a part of this Mortgage:
Amendments. What is written ìn this Mortgage and in the Related Documents is Grantor·s entire agreeme· t with Lender concerning the
matters covered by this Mortgage. To ·be effective, any chenge or amendment to this Mortgage must bé in riting and must be signed by
whoever will ba bound or obligated by the change or amendment.
Caption Headinga. Caption headings in this Mortgage are for convenience purposes only and are not to be sed to interpret or define the
provisions of this Mortgage.
Govarnlng law. This Mortgage will be govemed by fedetallaw appUcàble to Lender and, to the extent not r..mpted by federal law. tha
laws of the Stato of Wyoming without regerd to Its conflict. of law provisions. This Mortgege has been acc pted by lender In the State of
Wyoming.
Choice of Venue. If there is a lewsuit, Grantor agrees upon lender's request to submit to the jurisdiction 0 the courts of lincoln County,
State of Wyoming.
Joint and Several Liability. All obligations of Grantor under this Mortgage shall be joint and several, and all re e.rences to Grentor shall mean
aach and every Grantor. This means that each Grantor signing bélow is responsible for all obligations in this ortgage.
No Waiver by lender. Grantor understands lender will not giva up eny of lender's rights under this Mort 8Qé unless lender does so in
writing. The fact that lender delays or omits to axarcisa any right will not mean that lender has given up tat right. If Lender does agree
in writing to give up one of lender's rights, that does not maan Grantor will not have to comply with the oth r provisions of this Mortgage.
Grantor also understands that if lender does consent toa request, that does not mean that Grantor will no have to get Lender's consant
again If the situation heppens again. Grantor further understands that just because Lender consents to one r more of Grantor's requests,
that does opt mean Lender will be røquiff¡ld toconsønt to any of Grantor's future requests. Grantor wa 85 presentment, demand for
payment, protest, and notice '01 dishonor. Grantor waives all rights of exemption from execution or similar Is 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 M tgage remains in effect.
Severability. If a court finds thai any provision of this Mortgage is not italid or should not ba enforced, that f .ct by itself will not mean that
the rest of this Mortgage will not bé valid or enforced. Therefore, a court will enforce the rest of the provi.ions of this Mortgage even if a
provision of this Mortgage may be found to be invalid or unenforceable. 1
Merger. There shall be no merger of the Interest or estete created by this Mortgege with any other interest r estate in the Property at any
time held by or for the benefit of lander in any capacity, without the written consent of lender.
Succe.ssors a.nd. AsSign... SUbie.. ctto any limêtatio.ns statedln th.iS Mort.· gage on transfer of Grantor's intere.t. his Mortgage shall. be binding
upon and inure to the benefi.t of the parties, their successors end assigns. If ownership of the Property bee mas vested In a person other
than Grantor, lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness
by wey of forbearance or axt. ension without re.leasi.ng. Grontor from the obligations of this Mortgage or liability Under the Indebted~ss.
Time Is of tho Essonce. Time Is of the essance In the performance of this Mortgaga.
~a~v;~. ~!n~. o:et~t~~ld.l~dXe.a.:.t::~..;.~s;er~:t~~ ~.e:~~r"~~~S.ge:g:~ wai.ves all rights and benefits of the. homeste¡. exemption laws of the State
DEfiNITIONS. The following words shall have the following meanJngs when used In this Mortgage:
Borrower. The word 'Borrower' means AAON l fROMM and STEPHANIE R fROMM and includes all co-slg rs and co·makers signing the
Note and ,all their succe~sors and assigns.. . .. . t . . _ .
Environmental lawo. Tha words "Environmental law.' mean any and all otate, federal and rocal staM,., ragulatlons end ordInances
relating to the protection of hum en health or the environment. including without limitation the Comprehe'five Environmantal Aesponse.
Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ('CEACLA '1, th~. Superfund Amendments and
AeauthOritaliO. n.Act.Of .1..986, Pub. L. No. 99-499 ('SAAA'I, th. e Hazardous Material. Transportation Act, 49 U.S,C. Section 1801, et seQ.,
the Resource Conservation and Aecovery Act, 42 U.S.C. Seetion 6901, e' seQ.. or other applicable st te or federal laws. rur.... or
regulations adopted pursuant thereto. ¡
/
í
I
0924517
Loan No: 764004008
MORTGAGE
(Continued)
000531
Page 5
without limitation a guaranty of all or part of the Note.
Hazardous Substances. The words "Hazardous Substances" mean matarials that, because of their quant ty, concentration or physical,
chemical or infectiÇJus characteristics; m~y couse or pose a present or potential hazard to human he-a. h or the environment when
improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise han ed. The words "Hazardous
Substances" are used in their very broedest sense and include wlihout limitation any and all hazardous or oxié substances, materials or
waste as defined by or listed under the Environmental laws. The term "Hezardous Substances" also include, without limitation. petroleum
and petroleum by-products or any fraction thereof and asbestos. . .1
Improvement.. Th. e .wo.rd "1m. provem... ents" .mean S. all e xisti.ng and.. f.utu reim pro vements,. building s. str.uctur.e¡ . mOb. ile ham e.s affixed O.n the
Real Property, facilities. additions, replacements and other construction on the Real Property. ,
Indebtedne... The word "Indebtedness" means an principal, interest, and other amounts, costs and expen es 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 by lender to discharge Grantor's obligations or xpenses incurred by lender to
enforce Grantor's obligations under this Mortgage, together with interest on slJch amounts as provided in this Mortgage.
Lender. The word "lender" means 1st Bank, its successors and assigns. The words "successors or .ssigns' mean any person or
company that acquires any interest in the Note. 1
Mortgage. The word 'Mortgago" rileans this Mortgage between Grantor and lender.
Note. The word "Note" means the promissory note dated November 15, 2006, in the original principal 'mount of $180,000.00
from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings 01, cons lidations of. and substitutions
for the promissory note or agreement. The maturity date of this Mortgage is December 1, 200B.
Personal Property. The words 'Personal Property" mean all equipment, fixtOres, and other erticies of pers
owned by Grantor, and now or hereafter ettached or affixed to the R·eal Property; together with all 1Iccess;0
replacements of. and all substitutions for, any of such prQperty; and together with all proceeds [including
proceeds and refunds of premiums) from any sale Or other disposition of the Property.
Property. The word "Property' means collectively the Reai Property a~ the Personal Property.
Real Property. The words "Real Property" mean the real property, interests and rights. as further described i this Mortgage.
Related Documents. The words -Related Documents" mean an promissory notes, credit agreements. Ion agreements, environmental
agreements, guaranties, security agreements. mortgages. deeds of trust. security deeds, colleteral mortga s, and all other instruments,
agreements and documents, whether now or hereafter eXÎsting. executed in connection with the Indebtednes .
Rents. The word -Rents- means all present and future rents, revenues, income. issues. royalties, profits, '. td other benefits derived from
the Property.
EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE, ~ND EAC I GRANTOR AGREES TO ITS
TERMS. 1
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STATE VoY..J..1'X-~ ) ~ :8 ~ _: ~
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COUNTY OF Tu1 ~~ ~ f.. ,oUB\..\C i ~ I
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On this day belora me, the undersigned Notary Public, personally appeared ARON L FRO~M and STEPHANIE - !ð~·:t...rp .'(g'~~~¡.f"e
individuals described in and who executed the Mortgaq<:, ~nd ecknowledged that they sIgned the Mortgage as eOyid ~'~"'I' fl and
deed. for the uses and purposes therein mentioned. _~ D"'"'''' 1,.."I,f
Give und my hand and official seal' 15' - day of . 20
al property now Or hereafter
S, parts, and addftions to, all
ithout limitation all insurance
GRANTOR:
XAi&M~V
~-
X ^
5 EPHA FF£~ ~<.
INDIVIDUAL ACKNOWLEDGMENT
LASIJI MIO lAoo.,... v.. 5.1100._ C_."-"'I Ao__............ ..... '.7.:1;01. ....................
....L.._._,_,_.~_