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HomeMy WebLinkAbout925450 /\ /) '·t t", -1, Nnu-~U-¿UUó 11:.:!U ßM l"lrst l'Iotlonn L. M{1n~ ,jVfb:>"I,jb¿,j UJ -t1 IR Dq ~3 RECORDATION REQUESTED BY: 1s' Blink Alpine 100 Greys RIvet Rd. P.O. Box 3110 Alpblo. WY 83128 WHEN RECORDED MAIL TO: 1st Balik Alp"'e 100 G....ye Riv.r Rd, P.O. Box 3110 Alpi.... WY 83128 RECEIVED 12/19/2006 at 1 :49 PM RECEIVING # 925450 BOOK: 644 PAGE: 5 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY SEND TAX NOTICES TO: 1st Bank Alpin. 100 Greys Rivet Rd. P.O. 60x 3110 AloIne WY 83128 SPACE ABOVI! THIS UNI! 1& FOR RECORIJ~R'& USE QNLY ~' i\ i\ MORTGAGE 1HIS MORTGAGE dated November 16. 2006, Is made and execuf.8d between ALPINE DEVELOPMENT GROUP lLC, whose address Is 114 HIGHWAY B9, ALI>INE, WY 83128 Ireferred to below as "Grantor") and 1st Bank, whose addre&8 i8 100 Greyo River Rd., P.O. Box 31'0. Alpine. WY 83128 (referred to below 1i18 "Lender"'. GRANT OF MORTGAGI!. For vÐluable consideration. Gnonto. mgrtg.ge. ..,d conV<lya to Lencler aU of Grilntar's right, title. and Intereat In ."" 1<> ti1fJ falawlng doscrlbÐd real prope~. togt1h1r with all Qxist ng or aubsequentlv er,otad or affixed buildings. Improv",,"nla and fixtures~ al e....mem. ~gI1ts of w.y. 8I'Id .ppunen.nceo: 81' w.t.r. ",ojor right., ..,amICou,,,,,,, .nd clitc:h 'Ight. !Including .tock In utiliti.. with dltoh ur Imgodon rlQhts); and .11 om.. rl,9ht8¡, royallle.. and profita rolating to the reol prop"ty, including wIthout Ilmtm gn 1111 mlneralo. o~. g.... Qoothonnal.nd einiler mstt.....lthe Real Property"' h;oested In UNCOLN County. State of Wvomlng: See EXHIPIT A. which Is attBohed to thl. Mortgage and made II part of thíe Mortgage IS if fully set forth hereIn. The Real Property or 1ts address 18 commonly known as 114 HIGHWAY 89, ALPINE, WY 83128. CROS8.COLLATEHA~lZAïlON. In addition to the Noto. till. MorlQago leeuru .11 obligortlone. debts and I....M~I... plue Interest th.reon, of Grantor to Lender, or any ano or more of them, .. well as .11 claims bV '--nd8t agol""t Gr.ntor or eny on. or more of them. Y/hethor no,v e~ls1lng Or hoIr..fter .rising. ","I1n.r rllaUld or unrel.ted to tn. purpolMl of the Note. w"ethor voluntar:y or otherJiI.., wh.lhcr due or not duy. direct or indfrect. determined or undetermined. .bsalute or contingent. Ilquld.tld or unßquld.œd. Y/hl1her Gmntor moy be Ii.ble Individually or jointly with othe", whothDr obllgeted .. guorontor. our.ty. aooommadation party or other..I$8, and whether recovery upon ouch .mounts may be (II' her.aftDr m.y beoome barred bV any statUle of Imitations. end whether thlo obligation to repeyeuch amounts møy be or hereafter m.y bocome oth.rwlse unenforceable. Grantor p....enUy ossigna to Lender 1111 of Gramor's right, mis, and Interest In .nd tc> all pre.ent ðnd futuro IodOOI of the Property end 011 Rents from til8 Prope~. In ~ddJtion. Grantor gran\ ! to Lendor a Uniform Commercial Code security Inters.lln the PM80na! Ptopatty .nd Rento. THIS MORTGAGE. INCLUDING THE ASSIGNmNT OF RB'flS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROI'ERTY. IS GIVEN TO SECURI! IAI PAYMENT OF THE JNDEBTEDN~SS AND IB) PERRJRMANCI! OF ANY AND ALL OBLIGATlOf4S UNDER THE f40TE. THE AElA TED DOCUMENTS. AND THIS MORTGAGE. THIS MORTGAGE IS GlVI!N AND ACC~PTED ON THE FOLLOWING TERMS: PAYMENT AND PERRJRMANCI!. Except Ba other¥/lss provldad In tld, Mortgage. Gr.ntor IhDII pay to Le~d... all .lY\Ounte naurad by this M<>rtgoge ea they beoome duo and lhell etrlotly perform all of Gr~ntor's obligations ~.r Lhls Mortgege, POSSI!S51DN AND MAINTENANCE OF TliE PROPERTY. Grentor~"" that Gramor'e pOI88o.lon and _ 01 the Property ahall be gov.rned bV the followlnll prgviaìona: P\¡....oIon IlI1d Un. Until the occUlrenoe of an E\'Ont of D.teull, Grantor møy (II rameln In po.sesalon end control 01 the Property; 12) us., operate or msnagc the Ploperty; and 131 collect the RDnts from the Propcny, DulY 10 I\IIolnt.In, Grentar .h.. /\'lointain tha Propo~ In tenantabla condition end promptly perform .11 rep.II". replacement., and m.lntanance ""ce...,y 10 preserve hs vel... Compllonc. WIth Enllltanmenltll lBw.. Grentor repreoo"'" .nd werrenlS to lend.r that: (1) D\Jllng thlo peñod of Grsntor's ownerehlp or the Propllrly. th.re h.o b.en rIO use. gen..e~on. l1Ia""t.otunl. otorage. tr.atmont, disposal. rele088 or 1hr.atønod relell!le of any HazerdoUli $ubllonco by anv par.an on. und.r, about or irom \ha Property; 2 GrantOf hM no knowledge oi. or reeaan to bellove thet \here hila been. exoept as provloualy dllclosed to end acknowledged by Lender in wri~n9, laJ .ny bro.ch or violoti,," of eny Environ""'nt.' Lowe. Ibl any u.o, generation. marufoowr.. etoroge. tre._1, dispos.l. r.I....o or threa"...d rcloose of ;my H.zardou. Substance on. undor. .bout or from the P'ope~ by any prior owners or Q( cupantB of th. Prope~. or Ic~ anv eotual or threetened IIllgBtlon or clalma of eny kind by any ~r80n relllling to .uch mener.; and (3) Exc.pt /III prelllously d1eulosed to end .eknowledged by Lender in writing. I.. n,lthe, Grantor nor any teMm, oantroctor, .gem or 0111er .uthorizl( user of the Property ohëll uoe. gerler.", mDnulacture. .we, treot. dlsposo of or .....0.0 .nv H.UrdÐIJ& Substol1C8 on. under. about or from tn. Prope~; and (b) .ny sl..h aetivity ah,1I be conduoted In oomplieno. with .11 appllolblo tedere!. .ute, snd 10c.1 lawe. regulotio"" ond ordln.no.., Including without limit.tlon all Enllironrnen¡al Lawa. Gr"ntor .uthor.... lend.r .od ita agents to enter upon the Proporty to make 04ch Inspection. and teets. et Grantor', e"""n.o. as Lend.r mIIY deem approprl8l. to dalermlne compliance of tilt Property with th'" .ection of ,1110 Mongege. Any In.p.ctlo"" o. toIts m.de by Lender ahell bo for lend.r's purpose. only .nd shell not bo con.!trUild to cr..t. Iny roapDnaiblllty or lI.bUlty on tho port of lender to Grantor or to any other poroon. Th. representedon. end w.rrontie. cont.ined ho",in are based on Grantor'. duo dlllgenoe in Investlgilting Lho Propertv ror Huardous SUbl1ønc.... ûr.ntor hsroby (1 re!aGlla. and wilives any future oluùm egalnst lBndQr for Indemnity or contribution In the event Grenlor becomes lIeblo for cla'nlJP Or other costs undor any sue" lews;.nd (2) oW"'" to hulerMlfy. defend. and hold IlarmIG... L.nder egeinst eny and .11 olsim., 10.00., lIabilltie., d.mages. poncllies. .nd oxpsnlea which Lender /MV dlreotly or ild1r<1at1v Qustain or suffer ",Iultlng from. br.och of thio notion of the I\olorlOI!IO or eo . agnaequonc. of ony use. generatl"'\ m.ruf.<rtur.. .toraoe, dleposal. relalJao or threatoned rele... oOQurring prior to Grantor's own.rlhip or Intereot In the Property. whether or not the aem. waB or should hove ""en known to Grantor. Tha provlslooa 01 this section of the Monguge, Including the ab igl1ion to indonml1y end defGnd. shall sur,¡¡vo ,he paymem of ths Indebtedne:is end the s.tisfeo1ion and reconveyanco of the lien of this MO't¡ l! e and ohell not bo .ffected by Lander's ecquiaition of any inte"'.t ìrl Ihe Property. whother by foroulosuro or oth.rwlse. Hub.n"". Wast.. Grantar she I nat oall8s, conduct or permit .ny nuinnca nor commit, permit, or suffur any stripping of or w.ote on or to tho Ptoperty or any portion of 1n. Proporw, \'V1thou\ Mmlting 1he Q$I'I8r.iity of the foregoilg. G.sntor will not rem0\/8. or gr.nt to any other party the right 10 remove. any Umber. miner;da ¡Including oil ,nrI gaB). coal. olav, scoria. soil. gravel or roa~ products without Lend.r's prior wrirt.n consont. R..novol of Improvemonts. GronlO. ShDI not demolish or remove any hnprovem.nta from the Real Propeny without lendor'. prior w~nen consent. As a condition to thll removal ot any Improvem.nts. lender mev rsquke Grentor 10 meke .rrMgomonts ..ti,foctory to Lender to r.plac. such Imp",vemonts with Improvomonta 01 .t lonot oquol vylue. Lender'e Right 10 Entor. Land.. and lender'. Dgonts .nd ,epr..enllltlvea II1iIY Int... ,,",on the R.III Propeny et ellre..onable tll1l8o to att.nd to Lend.,'. Interes'" .nd to Inopeot thlo Ro.1 PrOpllftV for purposu of Grantor'. compllonce with the tIIrrns .nd conditions orthfo Mortgage. Complanoe w1th Govor,vnenurl R.quTtem.n",. Grontor shon promp\l1r compiy with oIllswo. orlllnal'108S. end regu181ions, OOVl or hereoft.r in effeot. of .11 gavernmlll\tal .uthorltïe. opplicabl. to tho uso or ocoupenoy of the PfoperlY, Including without IlmitJtk>n. the AmericetlS With Dlsebillti.. Act, Gramor m.y contest in good f.1th eny IUDh Jaw. orClrMIl'lOe, or regulation and vll1tl10ld oornpll.nce during env proço.dlng, including .pproprl.œ epp.a.. 00 long as Grantor hea oodfled lender in writmg prior to doing 110 ond 80 long a.. In lander', solo opini<>n. Lander's Intarel1ø in Ihe Propeny ate not leopenl1z.d. lender m.y r"'lulro Gr.ntor to pOat adequeto "uurity or a surety bond, '# .., .~ .... .. '4f' ...... Loan No: 761001410 MORTGAGE (Continued) 000006 Puge Z ",..ol1ðbly .allofaotory to Lender, to proTeot LIII1der's lowest. Duty to Protect, Grontot OIIreu nclUter to abandon or leave unattended the Property, Grantot sha. do all other acts. in addition to those .ots set lorth lbove In this ,aotIon, whioh from the charloter end use of the Property .re rusonlbly neoenary to prOTeot Ind pr."erva the P,operty. TAXES AND LIENS. Tho following provisions relating to thel""oa end liens on the Property era pert of thi$ Mort!Jðge: Payment. Grantor ahell pay when due IlII1d In ail events prior to delinqu.I1CY! all tBXf S, puyroll ta.... lpeolol toJUIa, aUOSllnants, water aharg.. Ind la..... ..,via. ohargaa lelllad against 0' on IICCOU1t of the Property, snd she I pey ..hen due all clelma for work done on or lor services rendered or mðtø/lel furnished to the Property. Griilltor Sltal maln"ln the PIt1PlrtV tI1III of ony liemI having prlotl1.y oVar or equal to the Intereat of Lendar Ullder 11,10 Morlgag., BC8pt lor Uta ExlsUng Indabtednus rofGrrod to In this Mortgage or those liens sp""lfically Dgrœd to In wnting by Lender, and except for the len of taxes end ..se.emem, not d"1 n fvrther epe~fied In tn. Right to Cont8lt peragroph, Right ~ Conl.sL Grantor mOV wlthhald paymenl of any lox, ouessrnont, or clain In connection with a good lalth OIepute ovar the obllgllUOn to pay, so long ... Landa,'s Inta,est In the Property Is not eopordized. If a lI.n ari"C or i8 mad as a recult of nonpayment, Gran"" chioll within flftaan (16) daY" ,,¡illr the lien Mill or, If. li.n ill filed, within fiftoen [161 days after Grantor hI. nodoe of the filing. sacutêtha discharge of tha lien, or If requested by Lender, deposit with Lender c..h or a suffiolent corporat. auraty bond or aliter security satfsfaotory to Lender In an amount oufllolentto dlcch.rg8 the lien plus any costs and rea.onsbla attorneys' feel, or other chlorgts ihat aould aocrue .. . result of a ¡orøclosur. or salo undar the lien. In any conteet. Grantor ¡/tIll doIlond Itsolf and Lenda, nnd .hall satisfy any edvorse Judgment before enforcament ag.rnst thlo I'ropert\', Grntor Ihall name Lender 01 en additional obligee under any .urely bond furnished In 1I1e contest proç..dlngs. "vidence of Ply"",nI, Granlor shall upon demand lumleh to Lender aarlsll<>tory evld.nco of peymcnt of the taxes or l118essmentl and sholl outhorlzo tho appropriate governmental 01110181 to llellwr to Londør at any tima a written statement of tha "'''0 Ind o.....monlS sgelnet the Property. Notice of Conltnu:ti(m, GrantQl' ,h.llnaUly Lend(¡ ' ot lesst fifteen (151 days be o", any v,otk II commcnced, sny seIVloe, are ivrnished, or ony møUlll.l. Gt. supplied to tho Property, If IllY meohanlo'o llan. rnalariolonon'a lien, or otr. lien could bo a"artad 01\ account 01 the wo,1l. services, 0' m.terials, Grantor..1II vpon roquaat 01 Lendar furnish tv Lender Idvill1Ctl assurances satisfactory to Lendor Ulaf Grantor can end will pay the coat of aueh Improvemlnts. PROPERTY DAMAGE INSURANCE. The 101l0....lng plovlslOl\. reloting to insuring the Property aAl a pan of this Mortgll!Je: Maintenance 01 IlISlr.nee. GAntor sholl procure and maintain polioiao of fi.. inlAJrance lNithstandaJd aXlenlled oavtlrage endo....manu on a replacement bo5le for the lull Insurable value ooverlng a' Impro.Jtlmlnts on tho Rell Property In an amount sufflciant tv .vold application of any oolnsurancB clause. and with ~ stondard mortgsgee claulI in ¡e'Jor of Lendor. Grantor shell el,o prueul'8 and malnteln eompreltel1ll',. general "~blllty lnaurance In luch coverage emolll1Ù .. L.nd.r may request with Lender being named as addhlonal ¡'8IJreda in suoh .abllity lnevranea pollclel, AddltlonoAy, Grantor shall maintain such other IneUflØ1Ue, Inoludi1g but not limited'" hakÐld, buaines, ÌI'Iterrupllon IInd boiler Insurance III Lendolr moy RlQlire. PoIlclee ehal be wrlllan by such Incurance comptnl" and In .uch form aa moy be rcssonebly scoepUble 10 Londer. Grentor shell deliver to ~ender oertificato. 01 coverege from .BOh insurer containing a stipuladM that coverage will nOI bo cone oiled or d1mlnllhed wlthovt a minimum of thirty {30t diY" prlot written notice to !.ender and not containing any dllOlalmor of the Insurer's lIabRlly for fanuro to give such notioe. ~aoh "'surDnee policy also shall Include on endorsemlnt providing thot coverage In fovor of i.4Indar will not be Impaired in any wey by any act. amlaeion or default or Grentor Dr .ny other per_on. Should the Real Property be loc.ted In an area designated by lhG OlrectDr of the Federel Em.l' ency Menagamem I\geooy a. a .pecle' flood ha..rd .rQO, Grootor "limes to omin and maintain Foderal Rood Il\IIu,.nc., II available, for the full vnpald ptinclpal ballnoe of tho loan and .ny pllor lien. on 1I1e properly eecuring Ihe loen, Up to the maxlmun1 policy limits ..t under the Nø\ional Flood I...urance Program, or .. otherwise required by landaI', KId to "",Inlllln such jnsll"ence for the term of tho loen, Appllcallon of Pro..onI.. Grantor thall promptly no~fy Lender 01 any lou or damll\le to the Propørly If the estlmeted oaal of rapair or repl1!109I11ent exceeds' $ 1,000.00. Lender may make proof of lase if Grantor falls to do so within fifteen (151 daya o' the calualty. WhAthor or not Lender's 5ao...lty II Impaired, Lend.. may, at Lender's election, receivo Ind rstein the procoods of any In.uronce and .pply the proceede to tho reduction of the Indabtadnc,s, peyment ohny lien affectfng the Prop.rty, or the ri8tor~don and repair of the Property. If Londør aJocts to epply thl ptoceadl to restOlellon and repair, Grantor 5hllll r.palr or repløoe the d.maged or destroyed Improvements In 8 manner satisfaotory to lender. Lender shal, upon sstisfaotory ptoof of such expendlt¡¡I1l, payor reimburse Grantor from the proceeds fOl the reasonabla co.t of repal. or restonltion 11 Grantor'" not In default undor thl. Mortgage. Arly p_dø which have not boon dIsbursed w1!1';'1 1 BO dayl efter th.ir reo.ipt end whloh Lerld" hoe oot committed to the repllr or re.wretion of the Properly sholl be used iir8l1O poy ony emount o\'lln9 to Lender under th.. MDt"tgage, than '10 pay IICDruod Interelt, snd the ramelnder. If ony, shall be Ipp~ed to tho princlpel balanoe oliho Indobladne.... If Lender holds any pro.. { ¡ ofter paymant In full of the Indebtedn..., such proceeds shell be psld to Grentor S5 Granlor's intøruts may appoar. Conlptlanco wilh EJIisting Indebtedn..s, During tho period In which MY Existing Indebtedness descr~ below Is In eroeal, ocmpnanoe wltll the insuraMe plovI8ions contslr1ed In UIO instrument evidencing such Exi.ting Indebtodne,s ohall CClnllituœ compli.nae with the ineunonCl provloions under this Mortgag., to tha e><l""t coonpllance with lhe t.rme of this Mortgago wOldd COnsVtvlG a d~.oetion 0' insurance requiremant. If any proceeds 'rom lhe Insuranca become payable on losa, tho provisions In this Morl\lage for di"¡llon of proceede .holl epply only to thet portion of lhe prooaeda not payoblo to the holder of tha Existin~ IndeblodnMs. Grantor'e Report on Insurence. Upon reqUOIt of Lendar, hOlNover not more then onca I ye~r, Grantor ehall f\lfnl"h ro Londer a AlpOrl on 8aoh Dialing policy 01 Ineu,once .howing: (1 the I18me oi the Insurer; (2) the risk. Insured; (31 the amount 01 tho policy; {41 the proportv InsURd, the \hen current replacoment value of lueh property, and t:I18 manner of determining that vol""i Dnd {51 tho upiration dø\e of tha peDcy, Grantor ahaD. upon requw! of Londer, have "n ind.pendent appl'8iaer satisfactory to Lender determine the cash value replacoment oost 01 the PrOperly. LENDER'S EXPENDlfURI!S. If any action or procoedlng la commoncad that wovld mø\erleMy .fIeot lender's ¡meroet in the Property or If Grantor foila to comply with any provision of this Mor\¡ a¡¡e or any Relatad DoC\l'lllnts, including but not limited to Grantor's faM.... to comply with Dny obligation to maintain Exlsdng Indebtedness in good standing eo roquired balow, or to dlsoha~a Or pay when dua any emounlS Grantor is requlnod to ålSCher¡¡a or pay under this Mortgogo or Bny Rlllatad Documents. L.ndor on GrentDr's behalf may (but shllll nal be obligated to) take any BOlion that Ltnder deeme Ipproprlote. includll19 !>vI not Umilad to disoharglng or paying all UIJC8S, lI.ns, socurity Intel...ls, enoumbrol'1OO8 and 01l1er ololms, It ..,y time levied or placed on tha Proparty and paying ell oom for Insuring, malntafnln~ end pr8SDlVing the PrOperty. All ,uch expcndiwrea blOurred or paid by Lanoor for such purposos will then bear Interest ø\ v.. rota charged under tho Note from the date lnovrred or paid by Lendør to the dale of repayment by Grantor, All 'UGh ..pen.... WIll beooma 0 part of the Indabtodness Ind, at Londar's o~on, will IAI bo payable on demand; I BI be Idded to the belN108 of too Nota and boo epportioned .mony ond be payable with anv ¡nstaUm."t payments to become due during either (1) the term of ,ny .pplloabla insvre"". policy; 0' (2) 1he ,amaining term 01 dtø Note; or rC) bo treated as a bouoon peymoot which wRI ba due end payable at the No1l'a maturity. íhe Mongago also will .acure payment of th9Sa amoun\:e. Such right lI1all be in ;oddlUon to all alher righla arid remadIH to which Lender may be entitled U X1n DcIflWt, WARRAN1Y: DEfENSE OP TITLE. TIte following provl5lcnl r8latin~ to oW",nJhlp of the PIt1perly ora e part of thi. MorlQsgl: Title. Gr.nto, wlllrant. that 10) Grantor hold¥ good snd marketob'" tltla of raoord to the Property In lae Ilmple, free and clear of ailll.ne OJId .ncumbranoes olhor thin thon sd forth In the Real Property deaoriptlon or in the e.lednq I.tdobtedneee aeolion below or In any title In,unmoe pOlicy, title report, or flnol titla opinion I..ood In favor 01, and accepted by. Lander in connaotlon wIth thla MotlQll\ l. end {bl Grentor has the full light. power, and .uthodty to execute .nd deliver this MongDgo to Lender. Defense of Tide. Svbleot to tho ....ption in the paragroph obow, Grllnlo, wenants and wll foraver delend tho title to ths PrDØorty ageinst the løwful oIalms 01 oil pe""ns. In the evenl any aclion or prooo.di"g I, commenoed thBt qu..tiona Grantor's title or tho IntSlm of Lander under this Mortgag., Grantor sh.1I defand the aotlon at Grantor's expen$<!. Gnntor mav be tho nom".1 porty in such proceeding, but Lender sh.1I be entltted to perlloipata In tha proce.ding Ind to b. rep,esented in 111_ proceeding by .00000sel of Lend...'. own choloe. und Granlor will delver, 0' causa to be dølivcred, to Landar such InstrlJlllenl. DO Lender '""v request flom time to lime to permit such participation. Compll"".. With Law,. Gronlor Wlllranta thlt the Property and Gr.ntor's use of \110 Proporty complies with aD existing appliooble Iswe, ordlnanc..., and ragulotions of governmentalsuthorltiee. SUrvtval 01 Roprasentetlcma and Wurantin. AD ,.presentatlons, ....arrontiaa, and .9'_n11 made by Oronto, In this lVIortgog8 shall s...vlvo the e~eoution and delivery of thle Mortgage, 9/u111 be oOlltlnulng In naMO, and 111011 remain in lull forca and effect until ouch time .e Crantor'. Indebtednes, ..¡oil be peW In full. I~OV- ,1U-~UVC 11 :.J£: /11'1 r lr~8\. l~Ul,;,;lUl1fll nrl"K. .JVI OJ'i.JO£:.J 092~ 000007 Page 3 Loan No: 761001410 MORTGAGE (Continued) EXISTING INDEBT~PN~SS. The following provisions concerning EJllotIng Indebtedness are. part of this Mortgage: Ex/sUng lied. The &on of IlIie MorlUage securing the IrxJebtedncss may be a'eandary end Inferior tv en .)II.ting lien. Grantor expressly oovenents .nd agrooe to pay, o. aee 10 the pøyment of, the Existing Indebtedness and to provont any default On ....Ch Indebtedness, .ny dafault ..,d" the Irmruments evidencing .uch IndobtQdh8I1, at any defaull under .ny nourity docum.nts for such ind.btedn.... No MDdilic.Uon: Grsntor ~h.1I not enter into any .groement with lhe hold... 01 any mort!J'!Je, deed of trust. or other security agroomorl1 which has prlonty OV'" thiS Mortg.ge bV which that agreement is modiflod. amended, axlondQd, Or fIIn8wed wi1hout the prior written consent of lender. Grantor shall neithar raqUêSt nor açcapl ønv future advances under anv such security agreement wtt/¡out ~1C prior wrilten oonaent of lender, CONDeMNATION. The lullowlng provl.lI>rn¡ reining to oondemrKrtfon procaedlngs sre a part of this MorlUage: Proceodlngs. if any procoedìng In condermatlon I. filed, Grantor shall promptly notify lender In writing, and Grantor shaß prom~lv take otIoh steps DS mey be ne<:essary to defend the action and obtDln thc IWDtd, Grantor may bo Lha nominal porly in luoh proc..ding, but Londo, shoU bG Ql\liUad 10 ¡I4Irdolpal:ll In the prgoeedlng and to bo repro,onted In the proooodlng by counsel of 1m own oholoo, and Grantor will doliver or causa to be dollvered to lender such instlumonts ond documentation lIS may be IOqueated by Lendor from lim. tD time to permit lueh porlidpetilln. Applic:atlon 01 Net Proceeds. If all or any par. of tha PrO lorty Is condemned by cmincmt damDln proceedings or bV eny proceeding or pu.cha50 in lieu of oondemnatlon, Lender m.., lOt Its .lectlon rSQulre that all or any onion of ths net proceed. of the award be appU.d tu the Indebtedness or tho repeil or restoration 01 tho Propony, Tho not proceeds of 1he award shall moen the awerd after paymenl of sll re.".,nable 00515, expenses. and ettomey.' lee. ineurred by lender in oonl1<lotion witll the oondemn.tion. IMPOSfTlON OF TAXJ;;S, FEES AND CHARGES BY GOVEIINIIIIENTAL AUTHORIT1SS. 'r'" following provlalonl relntlng to govornmentll taxea, f~.. and ehargoa 1110 a part of thie Mortgage: Cur..nl T..-, ","a ond Chora"". Upon .equost by Lender, GrenlDr sh.11 e.ecute luch documen18 in .""'tion ID thi. Mortgag" end loka whatever other eclion is requested by Lender to perteel .nd continoe l.ndar's li.n on \11. Ra,l Propartv. GrOfltor aheD rolmbullIe Lender for .1I1a.8s, IS deeorlbed below, together with all a.poNl81 inourrad in recording, parfectlng or continuing thIs Mortgage, Inohldlng without limitotion aU toxeo, fQ8s. document.ry slBmps, and 01l1er chergu lor reoomlng or registering tlÙs Mortgage. Taxe., Tho following shell constitute lllxeato wtich thl.aeotlon apples: 111 ð 6 tIclflu tax upon this type of Mcrtg!ge or upon ell or.ny pert of the ¡n"'bted...ss secured bV thiø f'¡,or\l;¡aga; (21 0 ,~Ific tox on Grantor which Grantor is eUlhori~ed or requirad to deduct from peymenla on the Indebtednes. secured by this type 01 Mortgege; 131 . to~ on th" typl! 01 MOrlgooe chargl!lllbl. egalns. the Lender or the holder of the Note: and (4. a ""sclllo ta~ on all or any portion of tho Indebt.dness or on paymenta of pri"";pal and Inmm.t made by Grantor. Subsequent T._. II any tex to whioh thia ééCtïol) applies is enacted subsequent to the date of thi. Morl ago, thl& evem shall hava the s."", elleot a. an El/Clnt of Default, end Lender may exercise anv or ell of ita avall.blø romodlea for an mnt of Defsutt 8¥ prollld"d below union Grantor either (1) paY" the t.K bo""e It bacomaa dolinqucn!, or 121 contests the taK .. prollldad Ibove In the Tax.s and LIons aeotlon aOO depœlts with lender oash or a sufficllmt corporat. aursty bond or other aeourity satisfectory tv lenóer. SECURITY AaR~EM~NT: FI'4ANCING STATEMENTS. The foßowi"9 JfO'/ision$ ,elating to this Mortgage DB . seounty agreemont ere e part of this Morlv.ge: 9..,..11, Agrøcment. This instrument shd oon8Ütuta 0 Socurity Ägr!ement to tho ..tant ony of the Property constitute' iixlUres, and Lander shall he.. all of the rignte of a .sewed party under the Unl10rm Commsl'<Jlal Codo lIS emended /rom time to Limo. SacurllY Interast. Upon requo.t bv londar, Grantor shell toke whate.... aotion 10 "'quelted by Lender to perlect end continue Lendsr's security rm!røst In the Renlo ond Personol Property. in .ddilion to recording this Mortgllge In \I1e r..1 property records. lender may, ot eny tlm\! ond wllhout tunner !uthOrilOtlon from Grentor, 1110 executed counterparla. capiao or reproductions of thle Mortgage DB a nnanoing .tatalnent. Gr!ntor ahall reimbursa lendar for all expensea Inçurr.d in por!eetlng or eontlnulng this .eoutjty inlerest, Upon dtohoult, Grentor shllll not remove. ....r or detach the Personal Propt¡!rt¡, from thQ Property. Upon def¥ult, Grantor .l'Iall essemble .nv Personal Property not ,fOnd to tho PlO Iorty in a menner snd Ol a place reasonably oonvenierri. to Grantor end lendel .nd maka It available to lender within tIlrea (31 days aher r_lpt of written demand from Lend... to tha .xtcnt permitted by 8¡¡pllUI!bls law, Addr....". The mailng addrllS'85 of Grontor [dabtor) and Lender (secUDld party) from whish Informetlon concerning Ihs security Interest granted by thi, Mor\VÐga moy be olrtBiMd lesch as roqulrcd by the Uniform Commercial Gode) are sa alatad on the Ilrst pagl of this l\AortgO>g8. FURTHER ASSURANCES; ATTORNEV-IN-FACT. The lollowing provisions relating to furlher auursnces and .\tQrney-ln.føct are e part of this MDltgege: Furtller Assuranoea. At any time, end f,om timo 10 time, upon raqu88t 01 lender. ~r,,"lor wIN make, exaout. and d.nver, or wnl o.use to be mada, exccuted or delivered, tD 18ndl!f Dr to !.end.". designee. and ",hen requaatod by lendsr, Q;luoe to be nled, recordad, r..nled, or ,erecorded, It tho aUe mey be. at such tlmea ond in aueh of&.. and placOl 88 Lender mav daom eppmprlðte, any ond Iii such mortgagøs, deeds of trust, sÐCurity deed., security agreemlll1lS, financing stetementa, eontinuotion .tstemenla. lnatruments of further lIISurøoce. alrtiflcates, Bnd olher doOU1f>êtlta ea may, In th. .011 opinion of Lender, be nooQSssry or deslrobl" In order to eHectuale, compleœ. perlact, continue, or pre.."'o (11 Grantor's obllgotlon. under the Note, Ihls Mongege, and tha Ralaœd Documents, oncI (21 the Y.n. and aeouritv Intero.ts cruted by this Mongege on the ProperlY, whether now owned or hereafter acquired bV Grantor. Unh... prohibi!"d bV law or lender Igra811 \0 the conlrery in writing, Grontor shall reimbUlIU lendor lor ell oost. .nd QX Iensee Inconed In conMctlon with the mattere ","'"od to In this paregTllph. Altorn.y-ln.Fact. If Grentor fail. to do eny of tho things reforred t\ In tIuI preceding pere! Tsph. Lendet may do so fo, and in the name 01 Gramer and at Grantor'. e.pense, For luch purposes, Gren¡"r horaby Irrevooably IIppolnts lender .s Gr..,tor'. attorney-in-facl lor 111e purpo"," of making, el(8cutlng, detiverlng, nllng. recording, III'Id doing .11 othar tiling. as may bo nlca.sary or de.lt.bla, In lander's '01" opinion, to aceomplleh the melters referred to In tho preceding paragraph, PUll PERFORrJlANCE. If GranlDr pavo all the Indebtedne.. when duo, and otherwiao performs ,U the obigatlona ImplJØ8d upon Grantor onder this Mortgage, lander shall I.touta end deliver 10 Grentor a suit!ble satisfaotlon of this Mor"Jega ond sult!bla statemoo\S of tsrmlnMion of eny finenclng stBtement on filo evldenoin!J Landor'. security Imr.et In the Rems .nd the Personal Pro¡¡erly_ Grantor will p.v, If pormlttlld by epalio.blo law, ony reaaonable I.rmlnotloo fee aa datennlnad by Lender /rom limo to time. EVENTS OF D"FAULT. e.ch of the following, at Lender'a option. .hall canatlMo en Event g; Deloultunder this Mortgage: Paymont Default. Grantor fals to meke Sny paymont when òue under the Indebtedrieaa. Defoult on Oth., PayltllltlS. FaDure of Gramol within the time required by thb Mortgoge to make ony payment for we. 0' Insurance, or any other pay"..,"t necessery to prs.ont 1U1ng of or to IIfleet discharge of any lion. Dth... DofoultB. Grantor loil. to comply \"Iilh or to perform anv ollie. term, obligation, ooveoont or ooOOltlo1l oontainad In this Mortgage or In any 01 tho Reloted Document. or to oomply with or 10 porform env term. obligation, covenant or condition oonwlnad in env othsr og..omonl between L""dtor and Gr.mor. Dofsult In Fevor of Third Parties. Should Grantor default under any loIn. extension of credit, seourlty agreement, puroh..a 0' Slles agreement, or any other agreement, In fawr of env other creeltor or poreon thet mev metllrlolly affucl øny of Grantor', property 01' GrenlDr'. ebilily to repay the Indebœdneas or Gramor's lbÌlity to perform Grsntor', ob6gatlons l.I1der thla Mongege or IIRV relalad documant. Falla Statomenl5. Any \Vaffonty, represan\8l1an or statemem miide or turnished to lend... by Grantor or on OrantOl'. behalf under thl<o Mortgege or tho Related Dooun..nls la Ialsa or misleading In ony material respeat, alther now or " the lIono made or fomlahed Dr becomes fain or misleading .1 ony time theresltllr, Dofcçllve ColIBtltnoliralion. This Mortgage or any 01 the Related Documem, oe"".. 10 be in lull for.. .nd effect {including follura of anv coilateral document to oreale a valid Dnd porteoted ..cudty InlDrast or lianf .t any timo end for any r..aon. Deodl or InsoIVDIIW. The dissolution of O"ntor'. (regordl","s of whether elootloo to oontlnue la madet, any m\!mbar withdraws from the IImlœd liability company, or snv r;o\l1er termination of Grento,'. axlotonce as . going business or tho áeeth of any ",omber, the insolvencv of GrontlOr, tIl. appointment of e reeelver for .nv part of Grentor's property, any assignment for the bonafit of creditors, env type 01 creditor workout, or tbo commancernent of any proCÐedlng unóer 9J\V bankruptoy or lnool-.noy law. by or ago/nst Grentor. Loon No: 761001410 MORTGAGE (Continued) v-',.",~--.:~v (JOOOOS Þage 4 Cradllllr ".r forfeiture Prooeeding., Commencement of foreclo,ure or forlelture proceedings. whothlll' by judicial proccodlng, lolf-help, reposlesllan or ~"" other me~, by any .rodltor 01 Granto. or by ..., ~rnm.nbol agency agel"'t any prOplll1y leclKing tho IndebtacJn8ll, Th,s ,nolu,*, e genulhmem of any of Grlll1tO~s .ccount., InckJdfng deposit accounts. with lAndor. Howeva" lb. Event of Default wi not apply If there I. a good faith ci1spU!Q by Grontor oa ID the vlilidity Or "allonablen.e. of the olaim which i. the ba.iI of the cre"!tor Or Iorfoit",. proooocJng end If GrðnlDr gNU Luder written notloa 01 tho oredltor or forfeit.... proceeding and dllp081t1 with Londor mo..... or a aurorty bond for the creõltor or forteilure proceeding, in In omount dotarmlnod by Land.... In III; .0. dlacrotlon, e. being an adequato reserve or bond for Ule disputa. ExI81Ì1g IndebtedMla. The payme?, of any Irllneßmcnt of principe I or anv Inls...t on ilia Existing Indob\8t1ne,s I. I1I¡I mede wl1hln the tlm. r8<¡uhd by lh1 proml.80ry n01a aVldenelng 'UGh Indebtedneas. or a default occurs under the In.tru01811t securing Buch Indebtedneaa and II not curad during any opplicoble g.aoa pa~od In such lnatrumant, or any .vll Qf other aolion ,~ oommel1Qod 11> fo_lo.e .ny existing Uen on the Proparty. Breach of Other AgJeement, Any breach by Grantor ¡,nder the term. of .ny other Igrocmem between Grantor and Lender thet 10 not ...",ldled within any graoe period provldod therein. Inoludlng without limitation any agreemem conoemlog any Indebtedness or other obfigaUon of G/lllltor to LendQl', whothel axlsting now o. lote/, Events Anectlng GUllrantor. Any oj tl18 preceding events occurs with respect to any (juorontor of anv 01 "'" Indebtedness or ony Gu.ronb;lr dl,. or bIocomes Incompottnt. or ravok.. or dlspultll the v.UdI1y of, or liability unde., any Guaranly of too Indabtedness, In the avont of a doath. Londor. at ita OptlOI'. may, but shell not bo roqlJred to, permit the Guaramor'a eat8t8 to assume unCOI1dltlonölly the obUgadone ..Ising under the v...ronty In a manner soll.factory to Londor, and, In doing 00. aura any E..nt 01 Dofaull, Adv..... Ch...... A rnotarlal odvel'llfl chenga occ"'s In Grontor'a financial condition, or Lender bellevea \he pru.pegt of paym",,' or perlormance 01 the Indebtedness 10 Impolred. In",.urity. Lendør In gOod f¡¡i!h bollevlI ìlJ:olf h' acura. RIGHTS AND REMEDIES ON DEFAULT. Upon tll' occurrence of an Evant ot DeflllJlt and at eny time tMer88mr. Limda., at Lando,'. option, may exerci.a eny OI1e or mora of the following rights and remodln. In addftlon to any other lights or ",media provided by law: Acael.ratø Indobtodncas. Lender sha~ have the right et it, option without notice to Grantor to declare the enllre IndebtOldnlMl. Immadiatoly due and pavabla, Including MY prepavment penally which GronlO. would be required to pey. UCC Romodloa. With respect'" all or any port of tha Peraonal Property. Lender shall heve .U the .i9Ms end ramacJes of a secured pany und81 the Uniform Com"",cclal Code, Colle., flen\$. Ltlnd.... ,hl>ll haw the right. without notloe to Granto., to taka poSll..akm 01 tt-e Property, including du.1ng tho p.ndencyof roraclo8\Jre, whether judlclel or non· udiolal, snd oolleot 1I1a Rents. including amounts PIs! dUB .nd unpaid, ond appJy thII ne1: proteed., ov.. and above Lender's OU$!a. lllain¡t the Indcbtedneos, In fu.th"snca 0' thia .Ight, lender may reqlire sny 1enallt 0' at/lQr UlGr of the P.optrty to moke poyment:s 01 rent or use tees dlraçtly to Lend",. If the Rents ore oolleoted by Lender, then Grantor irrevotoblv deslgnat. Lender SI Gro""'r',, "'tarn.y.In.'eot to endor.. InstrUments received In payment ther",,' in the ""ms of Grantor and to OIootiat. the same and col~t 1M proceed.. paymema bv tenöntll or 0111111 UBors to Lender In reapOf18e to LandQ('s dooIand sho/I satisfy the oblige~ons for which tho paymenœ ar. mad.. whother or not any proper grounds fo, U\e demand existed. Lender muv GXerciøa its rlghIB under thill s~bp"'I\I.aph olthor In porson, by agem, or through 8 rlCdvor. Appoint Recolvcr. lInder .hall have the right to have a racaiver appolllted to taka posaecsion of all or any P'I.t 01 tho Property, wi1h th41 power to proteOl end _e"Ie the Property, to operata the Property preceding foreclosul1 or sole, and to rollect tho Ronta from the Property and apply !ho proceeds. over and ebov. the oo.t of tho receivership, agaillQl tho Indebtednasa. 1'he raeelvOt may serve without bond II pormittl!d by law, LInda.'. right to the appointment of 0 ..colver shall exist whelher o. not tho apparant valua of the Property excoeds the Indebtedn_ by 0 suÞotantW amount. Employment by Lender .ho/I not diequoJlly a person ITom serving as a receiver. Judlel" R/rec1osure. Landor moy olmln I ludlolal decreo forack>ølog GranWr's InlarClSt in ell or any part of the P.operty. Non ulldsl Sol.. Londa. moy loroolO$e enorrtor', Inter.st in all or In env part of tho Property by non-judiðfol salo. snd speol~o"y by "power of sale" or 'advertisement and Slia" fOfGClosure a, provided by ,telut.. DefIcIoncy Judgment. If pørrnitlld by applloeble lew. Londa. moy obtain. judgmont lor any def\çlenov Nmolning in thIIlndebtldneas due to Land.. after eppllcatlon of all amounbl ..oalved from the exerc.e of the tight8 provided In thts section. Ttnlll1CJY at Suffarance. If Gramar romalns in posseuion of the Property after the Property la sold aa provIded abova or Lender otherwlso booarncc entitled to po.sGCsion 01 tile Propsrty upon dallult of Gremor, Grento. .hall bacome ; tenanl at sufferance of Lande. or the purchasar of the Property oml shell. at ~endar'a option, olther 111 pay 0 "Ð80nabla rental for tho UIO 01 the Pro""rtv,'" (21 vacate tho P",...rty Immodl8t81y upon 1he dornond of Lender. Other Rcmctßes. Lender ,holl hove all other rlghlt< and remedies provided In this Mortgage 01 tho Note or avallsble at law or In equity, Sale of the Property. To 1i\8 Qxtent permltled by applicable law. Grenl(" haroiJy wolves any and all right'" havs tho Pro""rty marshalled, In exerolaJn9 Its rights and remedlea, Landor ahall be free to sell all or any port 01 tho P/openv togeth8/ or sepsretelV, in ono sale or by SIIpo'obr sales. Lender .hall be entitled to bid <It any public sole on .11 or any portion of the P.oparty. Notieo of Sale. Lender sholl give Grantor raasonable notice of the 1IIne end piece of any public sale of tha Parsonal Property or of tl,e time after whloh any private .ale or other intended dI.poeitiðn 01 the Person.1 Proparty Is !XI be mode. Reasonable notiCQ shell mean nO~oa given ot lelst ten (10) daya before the time of the sale or dilpo.ition. Any sale of the Parsonal Propany rnllY be m!lde In uonjunctlon with any aele of the Real Property. ETaclion crl Ramedles. Eleotlon by Lender to pur6UI any remedy ohell not Gxclude pursuit of any other remedy, Dnd an eleotion '10 make expandltures or '" take lOtion to pellorm an obligation of Grantor undOI thl. Mong'lII, after Grantor', failure to per"'"", ahall not .fleet Lender'. right to declare a def.ult and exercise Its remadi". Nothing under UIIs Mortglge or oU,elWise aha. bto oOllstrued .0 as to limit or re.triuf tho rights and remedlü avellsble to Lender following en Evant of Default, or in any way to limit ur ,astrict the rightll ond eblllty of Lender to proo..d dirnc1ly against GranLOr Ind/or egeln't ony olhor co-meker, guarantor, s"rety 01 andorslr and/o/to proceed ogilin.t ""y other caaotoral directly or Indirecdy 18eurln91"" Indabtodne... Attorneys' Fees: Exponteo, If Lsnder mbJtes any .uIt Or IICtion to enjorce anv 01 tho terms of thl. Mortgage, Lender 011011 be entitled 10 IOcover such sum 011 the court mav adjudge rea.onable aa attorneys' fees at trlol and upon '"v appoal. Whether 01 not any court oollon ia Involvad, end to the eXlllnt I'iOt prohibited by la",. oil reasonable e""anaes Lender Inou" that In Lender', opinion are neoes..ry at ony time for the proteotlon of Its interest or the anforcomem of Its /Ightll shall beoome a pOlt of the Indebtecinaas pavable on demand and ahall bIour IntersSI at 1he Nota rm irom the date of 1m, exponditure until ",paid. Expense. covlrad by this paragraph include, without limltntlon. however subjeot to any limits under ,pplið8ble Isw. Lender's reesoneble ¡ttornoya' fees end Lend....·. Iogel ..pen.es whatrer or not there I. 8 law""'" Including .ealonahle oUo.ney.' fee. ai\d oxpense. lor bankruptcy prooeedings Oncludlng efforls In modify or vaoØ!Ð any autometic stay or Injunttionl, eppeoh. and uny entioipetad po't~udgl11ent oolleoilon sorvlces. the 0081 of l8archfng records, obtelnlng tI\le repor. (Including fOreclosure rtperu). survevo,,' ,.pa.ts. and eppralo.1 r",a end tiUe Ino.r""oo. to the extant potmltted by eppfioablo I.w. G.lllltor also will poy ony court eott., in IIddl\Jon to all ott. IU'" provided by Io.w. NOTICES. Any notice required to be glvan under this MortgagB, Including without limitation /lilY nollce of date'" and ony notJce 01 eale .hall bo given In writing. and .hall bo effective when actually delivered, when sctuolly received by tolafocaimile (unle.. othorwise required by law), whan deposited w~h . nationallv reoOll"I7..d ovornlght COllrler, 0', If mailed, when deposited In the Unlled State. mail, as lirst class, certified or "ghlta/od mail postage ","paid, dlroclBd to the addrosSDS shown new the beginning of th.. Mo/tgage, All ooplas of notices of foreclosure from the helder of anI' lien which ha. prloritv o~a, this Mongag. aholl bo sent to Londa.'s oddre... e. .1'10'11' ntlar the baglnnlng of this Mortgaga, Any party may change its .ddf.... lor notices under this Mortgsg. bV giving formal written IlOtica to the other perties. speoiiylng tilst the pu.poao of the noti.e I. 10 ohange tha party's oddress. For notlc)a purpasas, Grantor 0o,oe. to keep Lende' informed .t aJl ~mos of Grento~,$ current addreta, Unle.s otherwl.e provldod or required bv law, If there is mo.e than one Grantor, any notice oiven by Lender to my (J(onlDr IS deemed to be notice given 10 011 Gramon, MISC6LLANEOCJS PROVISIONS. The following miscellaneous provision. ere a pori 01 tl~. Morlgage: Amondmenta. This Monuall'". togothor with any AtlatGd Documems. oorn;¡tllutes 11" antira undarstandlng and .greement 01 the parties oa to the matters .81 forth In this Mortgege, No altcrotion of 01 ernandmcnt to thIs Mortgoge shall ba eHwll.a unJels given in writil1{ and signed by the pÐlty ", penIal lought to be charged or bound by the allllratlon a' olnondment. AnllWll Reports, If the Property Is usad fer purposes other thon Granto"s residenoe. Gr.ntO' .hall furnl.1> to Lendo/, upon "q....t. .. ....... ................ ..... . """'... ......... ... ... g" ..._"...."-II.'IJ.... 1J........ln JvrUJ""tJUG,J LOlln No: 761001410 MORTGAGE (Continued) ~'00009 092~qYtò V ' PI\gIP5 oortlflod o1ate"..nt of not ope..ting lnoom. røcøl\ll!d from Ih. Property during Grantor's provious fisoal yeer in ellOh 10rm and dfl~iI as lender .heU roquire, 'Net operfling income' .h.1I meen all cMh reeeipb from the Property Ies, ,11 cash expenditure. mode In OO'1'\$otlOI\ willl the opelOtion of the Property. Cap!l6n Hoadinga. Caption headings Inthia Mortgage oro for cO/1VQnlonco purposes only 8nd 8/0 not to be used to interpret or define thl provi,lons of thl. MOf11 age, Gov",nlnl/ I.ow. Thll 1110011101/. wUl be 1I....rnød by r.d.r.1 law IIJIPlic:abla 1:0 l..,d... end, to tho ox!JQnt not preclTC!ted by federal law. the 18WS of the 5tate of Wyoming without regard to Its conflict. of law provision.. this M~.ge hp been ,0cepUd by lendlr In thl State of Wyoming. Choice of Venuo, II thoro Is . taw8uit, Grentor agrees upon lenclar'. request to .ubmit to the Î\lr.,diotion of t/18 oourla 01 Lincoln County, Stetl of Wyoming, 1110 W.r..r by l8l1der. Lend.r ."-'1 not be deemed to heve waived anv rightll under this Mortgsgl unless suoh wai""r i. glvøn In ""iting and sl9nOO bV lender. No dolav or omission on the part of lender In exercising iI'lV right .h;l1I opelllte III: a wolve. 01 such right or any other right. A waiver by lender 01 . provl51on of thl. MOI'Igaga &hall not prejudice or conetltute s waiver 01 Linder's rlgI1t olholrwlse to dem~"d strict compUen(:o w~h thDt ptovision or snv other provision 01 thio Mortgsge. No prior waive, by lander. Mr 0Nf courSe of de~lIng bal."aon Lendsr and Gramor, .hall constitute e wllver 01 eny of Lende". righ18 Dr 01 anv 01 Grantor's obllgll\lons lIS to ;my ",lure tronSllet!oll8. Whenever the consent of Lender 1$ required under thie Mortgage, the grooling of ouoh oo",,,,t by Lendar in 811V il1stance shall not oonstitute oontlnuing (loneant to eUbsoquom instence, where suoh conson\ la required OfId in all cases suoh cooserrt mey ba granted Dr wIthheld il1 the sole discretion of Lendsr. 50vcrablDty. If a court of competent jurlediction finda eny prOlllslon 01 title MortlJlllr. to be "loge I, InvaUd, or unenforcesbkl es to any oiroumlteno., th;lt finding ahAlI not mako tho offending provlslOf1 Dlegal, invalid. Dr unonloroosblo a. to .ny other olroumston"". If lea$ible, the olfendlng prolllslon Ihen be oonsldlred modified so that It bOOOlTl88 Icgal, valid Ind enforcesble. If t"" off.ndlng provision cannot be 00 modlnlKl, it "'.11 00 co""ldarad d.leted Irom this Mortgage. Vnleas otherwl.. r.quired by low, tho meg.llty, Invalidity, or unenlaroeabllity 01 any provision of thlo Mortgage Iholl not lileot the I.galily, \'oIidlty or cnlorcelbl1lty 01 ~ny other provlolon 01 tills MDngage. M....er, Thcrc 8hell be no merger of the lote.....t or "Iat. croated by this Mortgflge with anv Dther Inlerost or Istat. in the Proplrty .t any time held by or for the bane"t 01 lander In al1\l csplcity, without 1111 wrltlon ccneent of lender. $ucaen".. ;md A.sign., Subject to any limltotiono Itoted In tI~s Mortgage on trlnmr ot GMlntor'a inlarost. this Mart9"1I1 "'aM be binding UPOI1 and Inure to Ihe benefit of the parde., thoir successors and asolgns. If ownocshlp of tl1I Property blOom.a vested in a person other than Grentor, Lender, without notice lID Gramor, may de.1 with Grantor'" 8ucce88ors with reterence to mil Mortgag. IInd tho Ind.btedness by WOt' of lorbeeronco or axtlrt8lon without r8l080lrtg Grlmor from the obl1l1'~Of1\1 of this Mortgage or liability undør the Imlcbtednesa. rime Is of ihe I!asol1oo, Time Ie of the ""n.. In fho pcrlorrntll1ce at th" Mortgago. WaJvor of Homestead Exemption. Grantor hereby relessee and wai\ll!8 oU r¡ghts and benefits of the homostaad .,.emptlon Qow, or the State of Wyoming .s to sq Ind.btad.'88S secured by th.. Mortgllga. DERNITIONS. Tho following copltolized w~ andte'm' ahall have the following meaningo when uslKl in 1hia Mortgago. Unl88S opeelflas1v 81ated 10 the oontMlry, all roforlnces to dollar .mounts shall mean amoum. in lawlul monev 01 the UnitBd SlaW of Amerlo,. Words aOO terms used In tho singular .hall inoludlllle pluroJ, .nd the plurel 8h8l1 Include the singular, as thl context mav requ~e, Wordo and torms not o\h"""'.e defined In this Morlsaga aha. have the m..nlogB ettríbuted lID IlUch terma In fh. Unifo,m Commeroial Code: Borrower, TI1. Vlerd "Borrower" meana ALPINE DEVELOPMENT GROUP llC end irwiud.. ell co-slgners and otl-mokera 81gning the Not. end 011 dlelr aucceuol3 and aesigna, Defaull. Thl word 'Delaolt' mcans the Defoult aat forth In thlo Mortgøgl In the section tltlld 'a.luult·. Environmental Uowa. Tho words "Environmental laws" me~n .ny and sll stete, Ied...1 and loeel statlltes, regulationl and ordln.n""s relatlnll to the protection 01 human hea/Ut or the onvlronment, including without I~nitatlon the CompC£llOJ1t!ive Environmon\81 Rospon.., Compel1.stlon, and llebmly Act of 1980. ., emendod, 4Z V.S.C. $eotiol1 9601. .t ..q. ("CERCLA'I, the Superfund Amendmenls and Reauthorization Aot of 1986, Pub. l. No. 99,499 I'SAI'IA '), the HazardolJ5 M.\erlall Transportstion Aot, 49 V.S.C. Slctlon 1801, et seq., the ResoLKCe Con..ry~tíon and Recovery Aot, 42 U,S.C. BeolÎon 8901, ot Slq., or othsr appfoceble .t,t. or federal laws, cui... or reguletlons adopted PU'SlUI11t therlto. EVOßI of Oefavlt. The words "~vent 01 Dofau!t" mean onv of the event. of dolault set forth in dIll Mongill' In 1.I1Q events of default slo1;on of this Mortgagl. E¡d.tlng Indøbtodnl$$. The wordo "E>cistlng Indebtedne5s" mean the IndebtBdness d88crib.d in tlte Ex/.tInS Uens provlalon of this Mortgage. Grantor. Tho word 'Grsntor' maens ALPINE DEVELOPMENT GROUP lLC. Ovaranlot. The word "Gvarantor' meen. ""V guarantor, lur.tv, or scoDmmodaUon party of any or all of the Indebtad~s. Guaranty. Tite word '(3u8tDntV' means the guaramy from Guorarnor to Lend.r, Including without UmltBtion a guaranty of ¡II Of port of the Not.. Ha..rdova Subsrances. rho words "Hazardous Substone.." mean matellals that, becsuse 01 their quantity, ooncentratlon Or physical. chomiosl or InflctJou. ohorocteristlco, may cause or poSB a present or potel1tial hazard to humsn haolth or the environment whon improporlv uled, traated. 5tDred, disposed of, sonetalCd, manu/¡¡otlJred, 1ransporled or otherwl... handled. Tha words "H..erdous Sub.tunc.." ...e used In th.lr very orOlld881 ..nso .00 Jnolud. without limitatlðn any snd .11 Nlzsrc!ous or to"io subotencao, maœrilll, or ..sot. 88 defined bv or üatod under 1ho EnvTronmental low.. The term "Hazardous SvlMtoncos' olio lnoludes. without limltetJon, petroleum and pe1rolevm bv-f)l'Oducts or any Iroctlol1 thereol and asbestos. Impronm.nta. The word ·Improvem.n...· means ell ."istlng alld futurl Improvements, buldings, structL.0'8B. mobile hmnes affIXed on tho Real Property, flcllitkle, sddltlon" raplacementt ,nd other col18tr\lotion on the Re.1 Property. Ind.bItodn.... The word "lndelJt.dness· means all principal. Imerest, end othor amounts, costs and ,,,panscs payobl. under the Note or Reloled Documents. together \~ith all renewlls of. extensions of, modlnCðtions of, consolidotiunc of and subaijtutions for the Note or Rslmed DOeumenta end ,ny amounts explnded Of .dvønced by lender to dlsoharge Grantor's obllgetlool or expense. Incurred bV len<t.r to en/1Jn:œ Gramor's obligations under this MongoliI, wgetl,er with Inter....' on I""h omounts 118 proyldod In thle Mcrtglge, Specincellv, wiC10ut nmltlrtlon. Indebtedn....s InclUdes .11 amounts 1hit may "" Indlraotly .œcured by the Cro~CollaleraUzatlon prnviolon of this Morto¡¡ge. lender. Too word "l.nds,· mean. 1st Bank, its SUGDlnors and as.iOns. Mortg.g.. The word "Mortgage' me.ns thia MDnlJilg, batwocm Gramer end Lender. Roie. The word "Now' means the promissory note d.tad NOIIemOOr 16, 200e, In the original prlnoipalllmount Df $988,000.00 from Grentor to Lender. IOgelh... with all ren.wolo of, extensions of, modlflc,tiona of. reflnal1Glngs 01, oonsolldatlons of, Ind .ubatltutiono for the promissory notu or agreement. The maturltv da'e of this Mortgage 10 December 31, 2007. P....onal Proporty. The wordo "Parsonll Property" ,n.an all equipment, fixtures, and other articles of personel proporty now or hereafter ownod bV Gflntor, ""d now or hereaft.r aUsched or effixed to the Rell Property: 10gri>or with ell ...,..,Ion., plm, snd addl1l0l18 to, all replaoementa of, and 1111 sublltlMion. for, ony of Buch property; and toget"", with all proneda Ilncluding without limitotion all Insurenea pruGllod. and refund. 01 premluma) from any..l, Dr other dispositlDn 01 the Property. Property. '(he word "Property' MeOl1S ooi"'c1lvoly tlte Reel Property and the Porsonol Property. RI.! Property. The words "Real Propar1y' mean the re.1 pro pony, Intur...ts and right., os further deeoribOO In this MO,ctllage. R.latd Documen1s. The word. "RelotÐd Docum.nll" meen sil promissory note., credit aOr..mont., lOIn agrl<llment., Invironmental agreements, guaronties, seourlty ogre.mana;. mortgagas, d..d. 01 trust, seouritv deeds, oollaterAl mortg.gee, ond all other Instrument!!, agreements end dooumønlA, wl'ether now 01 herØ!'.fter exis\lng, exeouted in connection ",illl the Indebtedneu. Rent.. Tlto word "R"nte' mun. .11 ptuent and fllture rsnts, levenwa, income, Inu.., rovaltles, proflts, and other blnents derived from the Propeny, Loan No: 761001410 MORTGAGE (Continued) 000010 v~,c;~qSU Page 6 GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OP THIS MORTGAGE. AND GRANTOR AGREES TO ITS TERMS. GRANTOR: ~.. , --,'-¡ . .......--.,..~::: ~...~ By:"- .....-.......- PAMIEN T MAVIS STATE OF I SS ) CQUNTY OF On this '3 . d.y vI , 20 , b,f(>to mo, the underslgnlld Nvt8ry Public, pononaßy appearlld DRADLEY G VERNON, uf ALPINE DEVELOPMENT GROUP LLC. ønd kñõWo\iã mo In b, a member ar doal;nlrled agent of the r,m~ed liabiliw C"""pllny tl\8t .".cutod tho Mortgðge end lok""wlldged tl\8 Mongaga to ba the fre8 end voluntary oct and deed af the limiteò lIabin1\' company, by authority of stetute, it! Irtioles of otgonLzallon 01' Its operadng IIgreem8ltt, fr¡t the Use! and purpose therein monlionod, and on oath atatad thM he or she is .uthotl~d to OXQCUlo thle Mortgage and in foal ,..eulod tho Mortgage on behllt al thl limited lIabißtv company, By Nvtary Public: in ond lor tho State of ¡¡..¡dIng It My wmmlsslon explros LIMITED LIABILITY COMPANY ACKNOWLEDGMENT STATE OF I IS6 I COUNTY OP On thll day 01 , 20 , blJiure ml, tho undarslgned Notarv Public, person"y oppoaoroo DAMIEN T MAVIS, 0' ALPIN ¡ DEVELOPMENT GROUP LLC, and k~me to be a member or d.ligl'l8ted "IIent of the limltad rasbil1ty company that o"ccuted the Mortgogo ond aCknowledged too Mortgage to be tha Irca and volunt~ry act IIrtd deed olU. Omitod liabifity compeny. by authority of statvtt, ita orticlllll 01 or9'n~aUon or Its operating agreament, fOl' the usas and purpa... t"",aln mentioned, end on oolh stoted that he or "'I i. authorized to .",outo th.. Mortgage end in fðCt e"ecuted tha Mort¡ ogo on beh.1I of Ire limited R~bility company. By RIISTdTng at NollilY Public In end for Iha State or My aommi.aio,1 explr" LIMITED LIABILITY COMPANY ACKNOWLEDGMENT STATE OF FLC R,I D A COUNTY OF J3 R. () \J,J A R D I ss I On this '1 d8y Of'J;) (:Q. E tr\ (ò Ç;R.. . 20 () , , bero... me, the undotalgnod Natary Public, parsv".Jly 'PPUol'Gd UNDA MILL!!!, af ALpj"'¡; D!\lELOPMEN'I' GROUP LLC, .nd known t~o D member or d9aignetlld ayan!. 01 tila limited llabllty complnv that axocuted the MOtI{ lIIIa and acknoWlOdgod the 1\.4001goga In be the fre. and or the limited liability comp.ny, by autl tv or statuto, Its ~CI'" of 019 . tion or Ita op.roting ogre.mont, for the 1I6 ÐIId purpose. areln men, I . that he .h4r outhorlzed 0 uta th ,tgago d Í1 fa.t o"acuted the Mortglgo be~ ~o Ii Itad liallD!BP/"Je!"SLUSHER . Residing ot ¡ ~ Notary Public, State of Florida . L A y comm, expires June 16 2008 Notery Public il and for the Stato oU ·I-D (( I~ My cocrunlsll e . Wlll-I......_. ..,..tao". e..r.I""..ftI..........",,"" 1r.lI,lIII'. II,....,...,........ .'WY DI...........".~...~~ 114111 09254:50 STATE OF California 000011. COUNTY OF San Luis ObisDO On November 30. 2006 before me, A. Clark. Notary Public (Name of Notary Public) personally appeared Bradley G, Vernon and Damien Mavis personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. A. ClARK ' COP.tM, #1698066 ~ NOTARY PIJBUC· CAUFORNIA ø SAN LUIS OÐISPOCOUNTY () COMM. IXPIRIS NOV, 8, 2010 .& ~~ (Signat'ifre of Notary Public) (This area for notarial seal) (notary)(07-02) nfì"~/R ~V\..(-",V EXHIBIT "A" 0925450 00001.2 That part of Lot] (SEl/4SE1/4), SWI/4SE1/4 and SEI/4SW1I4 of Section 20 aJld Lot 3 (NE 1/4 NW1/4), and Lot 2 (NW 1/4NE 1/4) of Section 29, T37N, RJ 18 W, Lineo"! Cow ''Y, Wyoming, being Part of1ha' 1r.Jçj ofmo,d in 1he Office of the Clerk o£Lincoln Coun~. in Boo.k 256 ofPhol0 static Records on Page 547, ùe3cribed as foHows: AU of1he REMNANTPARCEL as depicted Upon 1he plat filed in ,aid Office as PIa' N >. 30W, titJcd, "PLAT TO ACCOMPANYPARCBL DIV1SION APPLICATION FOR BORDEW (CUB) W. CLINGER AND CAROLYN LEE PORTER CLINGER FOR THE FL ¥JNG SADDLE LODGE PARCEL WITHIN LOT] (SEl/4SEI/4), SW1/4SE1I4, SE1I4SWL4. SECTJON 20 LOT 3 (NEi14NW1I4, LOT 2 (NW114NE 1/4)- SECTION 29, T37N, R 118W, LINCOLN COUNTY, WYOi'v.i'rNG¡ ílI1d dated 5 April 2001 and revise.d 27 April, 2001. / / I !