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Home My WebLink About874439 8741+39 RECEIVED LINCOLN COUNTY CLERK o I JUl I 0 M'IIf: 02 ~£ANNÇ WAGNEH Loan ~~~~fREH04~Y~~~ª46355-2 Title Company Land Title Order Number 03014925 AFTER RECORDING RETURN TO: Washin!ton Federal Savin!s 500 N Capital Avenue Idaho Falls, ID 83402 BOOK ,16~~ PR PAGE 241 Attention: Ronna Lee SHORT FORM MORTGAGE (WITH POWER OF SALE), SECURITY AGREEMENT AND FIXTURE FILING WITH ASSIGNMENT OF LEASES, RENTS AND ACCOUNTS THIS MORTGAGE ("Security Instrument") is made July 5, 2001 BETWEEN AAA Construction, LLC, an Idaho Limited Liabilitv Company as Mortgagor ("Borrower"), whose address is 725 Jensens Grove Suite 114: Blackfoot, ID 83221 and, W ASIllNGTON FEDERAL SAVINGS, a United States Corporation, as Mortgagee ("Lender"), whose address is 500 N Capital Avenue; Idaho Falls, ID 83402 ) L Borrower hereby irrevocably mortgages, warrants, grants, bargains, sells and conveys to Lender and its successors and assigns, with power of sale and with right of entry and possession as provided herein and by Wyoming law, all Borrower's estate, right, title, interest, claim and demand, now owned or hereafter acquired, in and to the following described property in Lincoln County, Wyoming (the "Property", which term shall include all or any part of the Property, any improvements thereon and all the property described in Paragraph 2 of the Master Form Mortgage hereinafter referred to): Lot 85 Star Valley Ranch Plat 16 according to that plat of record in the Office of the County Clerk Lincoln County Wyoming which has the address of NNK Alta Drive Thayne WY 83110 TOGETHER WITH all the tenements, hereditaments and appurtenances, now or hereafter thereunto belonging or in any way appertaining, leases and other agreements for the use and occupancy pertaining thereto, and the rents, issues and profits thereof and all other property or rights of any kind or nature whatsoever further set forth in the Master Form Mortgage hereinafter referred to, SUBJECT, HOWEVER, to the right, power and authority hereinafter given to and conferred upon Lender to collect and apply such rents, i&sues and profits. . This Security Instrument shall constitute a security agreement under the Uniform Commercial Code of Wyoming between Borrower as debtor and Lender as secured party. Borrower grants a security interest to Lender in any of the Property which is personal property and also grants a security interest in the property described in Paragraph 3 of the Master Fornl Mortgage hereinafter reférred to, now owned or hereafter acquired by Borrower (the Property, as defined above, and the property described in said Paragraph 3 are hereafter collectively referred to as the "Collateral"). THIS SECURITY INSTRUMENT IS FOR THE PURPOSE OF SECURING the following: (a) Payment of the sum of *****One Hundred Two Thousand Two Hundred and No/100s*********** DOLLARS ($ *** 102,200,00*** ), with interest thereon according to the terms of a promissory note of even date herewith, payable to Lender or order and made by Borrower (the "Note", which term shall include all notes evidencing the indebtedness secured by this Security Instrument, including all renewals, modifications or extensions thereof); Borrower's Initials ¡fJ4 , f3) ;,T (WYI 03/08196 O~j7Ll4a9 242 b) Payment of any further sums advanced or loaned by Lender to Borrower, or any of its successors or assigns, if (1) the Note or other writing evidencing the future advance or loan specifically states that it is secured by this Security Instrument, or (2) the advance, including costs and expenses incurred by Lender, is made pursuant to this Security Instrument or any other documents executed by Borrower evidencing, securing, or relating to the Note and/or the Collateral, whether executed prior to, contemporaneously with, or subsequent to this Security Instrument (this Security Instrument, the Note and such other documents, including any construction loan, land loan or other loan agreement, are hereinafter collectively referred to as the "Loan Documents"), together with interest thereon at the rate set forth in the Note unless otherwise specified in the Loan Documents or agreed to in writing; c) Perfonnance of each agreement, tenn and condition set forth or incorporated by reference in the Loan Documents, including without limitation the loan agreement of even date herewith, which are incorporated herein by reference or contained herein. THE MATURITY DATE OF THESE SECURED OBLIGATIONS, AS CONTAINED IN THE LOAN DOCUMENTS, INCLUDING THE NOTE, IS Jul y 5, 2003 By executing and delivering this Security Instrument and the Note secured hereby, the parties agree that all provisions of Paragraphs 1 through 69 inclusive of the Master Fonn Mortgage hereinafter referred to, except such paragraphs as are specifically excluded or modified herein, are hereby incorporated herein by reference and made an integral part hereof for all purposes the same as if set forth herein at length, and the Borrower hereby makes said covenants and agrees to fully perfonn all of said provisions. The Master Fonn Mortgage above referred to was recorded on the dates below shown, in the Official Records of the offices of the County Clerks of the following counties in the State of Wyoming according to the enumerated recordation designations appearing below after the name of each county, to wit: COUNTY LINCOLN TETON BOOK OR VOLUME 374PR 310 PAGE NO. 644-655 1174-1185 RECORDING NO. 809964 0404875 DA TE OF RECORDING October 16, 1995 October 11, 1995 A copy of such Master Fonn Mortgage has been furnished to the person executing this Security Instrument, and by executing this Security Instrument the Borrower acknowledges having received such Master Fonn Mortgage. The Property which is the subject of this Security Instrument is not used principally or primarily for agricultural or farming purposes. The undersigned Borrower requests that a copy of any Notice of Default and of any Notice of Sale hereunder, as required by Wyoming law for the foreclosure of a mortgage with power of sale, be mailed to Borrower at Borrower's address as hereinabove set forth. Borrower agrees to obtain all insurance required from time to time by Lender and as elsewhere provided in the Loan Documents, including flood insurance, If Borrower fails to maintain such insurance satisfactory to the Lender, Lender may make the payment on behalf of the Borrower and any sums expended shall be added to principal and bear interest at the rate provided in the Note, If the box preceding any of the following statements contains an "X", that statement is a part of this Security Instrument. If the box is not so checked, the corresponding statement is not part of this Security Instrument. D Paragraph 49 of the Master Form Mortgage (which refers to the existence, if any, of an adjustable rate feature in the Note) is hereby deleted. [] The Note secured hereby evidences a construction loan or land loan but is not a combination Note. Paragraph 53 of the Master Fonn Mortgage is hereby deleted. D The Note secured hereby is a combination construction 10J/pennanent loan Note. Refer to paragraph 53 of the Master Fonn Mortgage. ,D The Property or a part thereof is a Condominium. Refer to paragraph 50 of the Master Fonn Mortgage. D A fee owner and a leasehold owner of the Property, or a portion thereof, have executed this Security Inst~ent. Refer to paragraph 51 of the Master Fonn Mortgage D" The Property or a part thereof is a leasehold estate. Refer to paragraph 52 of the Master Fonn Mortgage. D See also Schedule "A" of this Short Form Mortgage, attached hereto and incorporated herein by this reference. _~l': '" ··~í··t~ ,,' (Page 2 of 3) '" ;J , . 0874439' 243 WITNESS the hand(s) and seal(s) of the Borrower, and each of them if more than one, on the day and year first above written. STATE OF ) ) ss, COUNTY OF ) I certify that I know or have satisfactory evidence that [Name(s) of person(s)] is/are the person(s) who appeared before me, and said person(s) acknowledged that (he/she/they) signed this instrument and acknowledged it to be (his/her/their) free and voluntary act for the uses and purposes mentioned in the instrument. Dated: (Seal or Stamp) (Signature) Notary Public in and for the State of residing at My conunission expires STATE OF IDAHO ) ) ss. COUNTY OF BONNEVILLE ) I certify that I know or have satisfactory evidence that Beniamin Arave [Name(s) of person(s)] is/are the person(s) who appeared before me, and said person(s) acknowledged ihat (he/she/they) signed this instrument, on oath stated that (he/she/they) was/were authorized to execute the instrument and acknowledged it as the Managing Member (Type of Authority, e,g" Officer, Trustee) of AAA Construction, LLC, an Idaho Limited Liability Company (Name of the Party on Behalf of Who,l:lHhe"1ns ment was Executed) to be the free and voluntary act of such party for the uses and pu+ses mentione in the instru nt Dated: July 5, 2001 "------,- (Seal or Stamp) \\\\1\111 "'''111/ ~\\\\.. ~ LEE'S IIII/of. ~ ~~ .,........... O.A";~ §O~ , " '''7..~~ s " " ~ ~~ " , ""~ i ,/ NOTA£:) ....Sj)\ .:::. 'TI_~(J)- = : ~ ':::. = : ~....... . = ~ *\ ¡l:)USLIC j § \ .... ..' § ~ro...··. ..,*~ .~.:""~ '" ,,- * ~/<¡'h-:.·....,....',ÀO ~.:$fo ~/ílC:-OF IOp..~~\,,~ 11111111/1\1\\\\\\ (Signature) Notary Public in and for the State of Idaho residing at Idaho Falls My conunission expires 10-12-06 (Page 3 of 3) L0175-T (WY)