HomeMy WebLinkAbout926112
,
.;
000:.J85
WHEN RECORDED MAIL TO:
Bank of the W..t
4321 20th Ave SW
Fargo, ND &8103
RECEIVED 1/16/2007 at 2:34 PM
RECEIVING # 926112
BOOK: 646 PAGE: 385
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER. WY
SPACE AIIOV~ rHI$ LINE IS FOR RECORDER'S U~E ONLY
lOy cODBÔ ~'ò - III I
ASSIGNMENT OF RENTS
THIS ASSIGNMENT OF RENTS dated December 11, 2006, is mede end executed between Steve Sharp, whose
address is 250:3 Summit Dr, Cheyenne, WY B2001 (referred to below 8S "Grantor") and BANK OF THE WEST,
whose eddress is 801 Pine Ave. . Kemmerer, WY 83101 Ireferred to below as "Lender").
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ASSIGNMENT. For valuable consideration. Grantor hereby assigns, grants a continuing security interest In. and
c::onveys to Lender all of Grantor's right. titl., and interest in and to the Rents from the following described Property
located in Lincoln County, State of Wyoming:
See Exhibit "A". which is attached to this Assígnment end mede a pClrt of this Assignment a. if fully ..et forth
herein.
The Property or its address is commonly knowl'! as 260 East Main Street. Cokeville, WY 83114.
THIS ASSIGNMENT IS GIVEN TO SECURE 111 PAYMENT OF TH~ INDEBTEDNESS AND (21 PERFORMANCE OF ANY AND ALL OBLIGATIONS
OF BORROWER AND GRANTOR UNDER THE NOTE. THIS ASSIGNMENT. AND THE RELATED DOCUMENTS. THIS ASSIGNMEI\IT 1$ QIVEN
AND ACCEPTED ON THE FOLLOWING TERMS:
GRANTOR'S WAIVERS. Grantor waivell all rights or defenses IIrlsing by reason of any "one action" or "anti-deficiency" law, or any other law
which may prevent Lender from bringing any action against Gr¡mtor, including a claim for deficiency to the extent Lender is otherwise entitled to
iI claim for deficiency, before or .her Lender's commencement or completion of any foreclos\Jre action, either udICi"lIy or by eXerçliSe of a
power of sale,
BORItOWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction Lender takes in connection with
tills Assignment. Borrower ass\Jmes the responsibility for being and keeping informed about the Property. Borrower wail/.iS any defenses that
may arise bec8use of any action or inaction of Lender, including without limitation ¡my failure of Lender to realize upon the Property, or any delay
by Lender in realizing upon the Property. Borrower ..grees to remain liable under the Note with Lender no matter what action Lender takes or
fails to take under this Assignment.
PAYMeNT AND PERFORMANCE. Exoept as otl'lerWise provided ìn this Assignment or any Related Documentll, Grantor shall pay to Lender all
amounts 5eOured by this Assignment as they become due. and sl'lellstrictly perform all of Grantor's obligations under thìs Assignment. Unless
and until I.ender exercises its right to colleC't the Rents es provided below and so long as there is no default Linder this AIIsignment, Grantor may
remain in possession IInd control of and operate and manage the Property and 00111;101 the Rents, provic;led that the granting of the right to collect
the Rents shllll not constitute Lender's consent' to tl'le use of ca! lh colleterel in iii blilnkruptcy proceeding.
GRANTOR'S REPRESENTATIONS ANt) WARRANTIES. Gnmtor warrants that:
Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, enCumbranoes, and olaims exOept as disclosed
to and accepted by Lender in writing,
Right to Assign. Grentor has the full right, power and authority to entl;lr into this Assignment and to assign and convey the Rents to
Lender,
No Prior A"lgllment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
No Furthe, Transfer. Grentor will not sell. assign, encumber. or otl'l.rwise dispose of eny of Grentor's rights in the Rents except as
provided in this Assignment.
LENDER'S RIGHr TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time. and even though no default shall have occurred
under this Assignment, ~o Oollect and receive the Rents. For this purpose. Lender is hereby given and granted the following rights. powers and
authority:
Notice to Tenants. Lender mey send notices to any and all tenants of the Property advl!¡:ing them of this Assignment enc;l directing 1111 Rents
to be pllid directly to Lender or Lender's agent.
Enter the Property. Lender maV .nter upon and take possession of the Property; demand. oollect ¡md receive from the tenllnts or frorn any
other persons liable therefor. all of the Rents: institute and oarry on all lagal prooeedings necessary for the protection of the Property,
inCludIng such proceedings as may be neces5IIry to recover possession of the Property; collect thé Rents and remove any tenant or tenants
or Other persons from the Property.
Maintain the Property. Lender may enter upon the Propeny to maintain the Property end keep the seme In repair; to pay the costs thereof
and of ;all services of all employees. including their equipment, and of all continuing costs and expenses of maintaining the Property in
1"\
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ASSIGNMENT OF RENTS
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Loan No:
proper repair and condition, and also to pay all taxe5, assessments and water utilities, and the premiumSi on fire and other insurance
effeCted by Lender on the Property,
Compliance with Laws. Lender may do any and illI thingSi to eICecute and oomply with the laws of the State of Wyoming and also all other
laws. rules, orders, ordinances and reQuirements of all other governmental agencies affecting the Property.
I.eaae the Property. Lender milY rent or lease the whole or any Pilrt of the Property for such term or tlilrms and on such conditions as
Lender may deem appropriate.
Employ Agents, Lender may engage suoh ;lgent or ag."ts as Lender may deem ;lppropriatè, either in Lènder's name or in Grllntor's name,
to rent ;lnd manage the Property, including the collection and application of Aents,
Otller Acts. Lender may do all such Othsr things and acts with respect 10 the Property ;IS Lender may deem iIIppropriate and may Bct
exCh.rSiiveiy iilnd sOlely in the ¡:Olece and Stead of Grantor iilnd to have all of the powers of Grantor for the purpose8 stated above.
No Requirement to Act. Lender shall not be required to do any of the foregoing acts or thll'lgs, and the fllct that Lender shall have
performed one or more of the foregoing aots or things shall not require Lender to do any other Sipecific act or thing,
APPLlCATIOIII OF RENTS. All 4:osts and tjll(penses incurred by Lender in Oonnection with the Propli!rty shall be for Grantor', "ccount and Lender
may pay such costs and expenses from the Rents. Lender, In its sole discretion, shall deTermIne tha application of ;tny and all Rents received by
it; hOwever, õll'IY suoh Rents received by Lender which are not applied TO such COStS and expenses shall be applied to the Indebtedness. AI!
expenditures made by Lender under this Assignmtjll'lt and not reimbursed from the Rents Sihall become a part of the Indebtedness seoured by this
Assignment. and shall be payable on demand, with interest at the Note rate from date of eICpenditure until paid.
FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwiSie performs all the obligations Imposed upon Grantor under
this Assignment, the Note, ilnd the Related Documents, Lender shall execute end deliver to Grantor a suitable satisfaction of this Assignment
and suitable statements of tormlnation of any financing statement on file evidencing lender's security interest in the Rents end tha Property.
Any termination fee reQuired by law shall be paId by Grantor. if permitted by applicable law,
I.ENDER'S EXPENDITURES. If any action or proceeding is commonoed that would materially affect Lender's Interest In the Property or if Grantor
tails to COmply WiTh Bny provision of this Assignment or any Related Documems, including but not limited to Grantor's failure to discharge or
pay when due any amounts Grantor Is requireQ to disoh¡¡rge or pey under this Assignment or any Flelated Doouments. LenQer on Grantor's
behalf may (but shaU not be obligated to) take any action that Lendar deems appropriate, Including but not limited to discharging or paying 1111
taxes. liens, security interests, encumbranoes Bnd other claims, at iilny timè levied or placed on tha /'tents or the Property and p¡¡ying all Oosts for
Insuring, maintaining and preserving the Property, All suoh expenditures InctJrred or paid by Lender for suoh purposes will then b,.r interest Bt
the rillte charged under the Note from the date incurred Dr paid by Lender to the date of repayment by Grantor. All such expenses will beooms a
part of the Indebtedness and, a1 Lender's option, will (A) be payable an demand; (6) be adQed to the balance of the Note and be apportioned
among and be payable with .ny Installment payments to beClome due Quring either (1) the tlilrm of any õlpølicablè insurance polioy; or (2) the
remaining term of the Note; or (C) be treateQ as a balloon payment which wlU be due and payable Bt the Note's maturity. The Assignment alSio
will secure payment of these amounts. Such right shall be in addition to all other rights and remediefl to which LenQer may be entitled upon
DefaulT.
DEI=AUl T. Elloh of the following, at Lender's option, shall Constitute an Event of D,fault under this Assignment:
Paymlilnt Default, Borrower fails to make any payment when due undar the Indebtedness.
Other Defaults, Borrower or Grllntor falls to comply with Dr to perform any other term, Obligation, COVel'lant or oondit/on contained in this
Assignment or In any of the RelateQ Documents or to comply with or to perform any term, oblig;ltion, covenant or condition contained in
eny other agreement between Lender and Borrower Dr Grantor.
Default on Other Payments, Failure of Grantor within the time requlrad by this Assignment to make any payment for taxes or insurance, or
any other payment neceasary to prevent filing of or to effect discharge of any lien,
Default in ¡:Ollvor of Tl1lrd Parties, Grantor defatJlts under any loan. extension 01 credit, Siecurity agreement, purchase or sales agreement, or
any other agreement, In favor of any other oreditor or person that mey materially .11ect any of Grantor'. property or Grantor's ebility to
perform Gr¡ntor's Obligations under this Assignment or any of the Related Documents.
Environmental Default. Failure of any party to oomply with or perform when due any term, obligation, covenant or condition contained in
any environmental agreement I!!xecuted in connection with the Property. '
False Statements, Any warranty, repret¡entation or statement made Dr furnished to Lendèr by Borrower or Grantor or on Borrower's or
Grantor's behalf under this Assignment Or the Related Documents is false or misleaQing in any rT1aterial respect, either now or at the tIme
made or furnished or becomes false or misleading at any time thereaft.r.
Defeotlve ColliUeralizatlon. This Assignment or any of the Related Documents ceases to be In full force IInd eHect lincluding failure of any
collatsral dooument to create a valid and perfec1èd security interest or lien) 8t any time and for any reaso".
Death Dr Insolvenoy. Thè dissOlution or termination of Borrowar's or Grantor's existence IS a going bUSiiness, the insolvency of Borrower or
Grantor, the. eppointment of a reoeiver for any part of Borrower's Dr Grantor's property, any aSSiignment for the benefit of creditors. any
type of Creditor workout, Or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or
Grantor.
Creditor or I=orfelture Proceedings, Commencement of foreclosure or forfeiture prooeedings. whether by judicial proceeding, self-help,
repossession or any other method, by any creditor of liIorrower or Grantor or by any governmentBI agency again8t the Rents or any propl!!rty
securing the Indebtedness. This includes a garnishment of any of Borrower's or Grantor's accounts, inC/uQlng depOsit accounts, with
L.ender. However, this IËvent of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or
reasonableness of the claim which i5 the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lender written
notice of the creditor or forfeiture proceeding and deposits with Lender monies or a $Urety bond for the creditor or forfeiture proceeding, in
an amount determined by Lender, in its SOle discretion, 8S being an adequate reserve or bani;! for tha diapute,
Property I),maga or Loss. The Property is lost, stolen, substantially damageQ, sold, Dr borrowed "gain st.
Events AHecting Guarantor, Any of the preceding events OOours with respect to ;lny guarantor, endorser, surety, or accommodation ¡:oarty
of any of the Indebtedness Or any guarantor, endorser. surety, Dr iilccommodatlon party dies or becomes Incompètent, or revokes or
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ASSIGNMENT OF RENTS
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disputes the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its option. rf!ay, but shall
not be reqvlred to, permit the gUllrllntor's estllte to IIssume unconditionally the obligations arising under the gUllrllnty In II manner
satisfactory to Lender, and, in doing so, cure any Event of Default.
Adveru Change. A materi¡¡1 ¡¡dverse change occurs in Grantor's financial condition, or Lender believes the prospect of pilym,nt or
perform<lnce of the Indebtedness is impaired.
In.ecurity. L.nder In good faith believes itself insecure.
RIGHTS AND REMEDIES ON DEI=AULT. Upon the occurrence of any Event of Default and at any time thereafter, Lender may exercise anyone
or more of the following rights and remedies, in ,ddltion to ,ny other rights or remedies provided by law;
Acoeler.te Indebtedness. Lender shall havè the right at its option without notloe to Grantor to declare the entire Indebtedness Immediately
due and p¡¡Yllble, Including any prepayment penalty which Grilntor would be required to PIlY.
Collect Rents. Lender shall halle the right, without notice to Borrower or Grantor, to take possession of the Property and collect the Rents,
including amounts PlISt due and unpaid, and apply the net proceeds, over ¡¡nd above L.ender's costs, aglllnst the Indebtedness. In
furtherance of thi. right, lender shall halle all the rights provided for In the Lender's Right to Receive and Collect Rents Section, above, If
the Rents ere collected by Lender, then Grentor Irrevocably designates Lender as Grantor's attorney-In-fact to endorse Instruments received
in payment thereof in thè name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to
Lender in response to Lender's demand shall satlsly the obligations for which the payments are made, whether or not any proper grounds
for the demand existed. Lender may exercise its rights under this subparagraph either In person, by agent, or through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Pro )erty, with the
power to protect and prelUlrve the Property, to operate the Property preoeding foreclosure or sale, and to collect the Rents from the
Property and apply the proceeds, over and above the oost of the receivership, against the Indebtedness. The receiver may serve without
bond If permitted by law. Lender's right to the appointment of a receiller shllll exist whether or not the apparent value of the Property
axceeds the Indebtedness by a substantl81 amount. Employment by Lender shall not dlsqualífy a person from serving as a receiver.
Other Rernedies. Lender shall halle ,.11 other rights and remedies provided in this Assignment or the Note or by law.
Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of ;lny other remedy, and an election to make
expenditures or to take 8ction to perform an obligation Qf Gr8ntor under this Assignment, after Grantor's failure to perform, llihall not affeot
Lender's right to declare a default and eXel'015e Its remedies,
AttQrneys' Fees; Exp.n.... If Lender institutes any suit or action to enforce ¡¡ny of the terms of this Assignment, Lender shall be entitled to
recover SUCII sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action Is
involved, and to the extent not prohibited by law, all reasonable expenaøs Lender incurs thilt In l.ender's opinion are necessary at any time
for the protection of its interest or the enforcem.nt of it5 rights shall become a part of the Indebtednesli payable on demilnd end shall bear
Interest at the Note rate from the date of the expenditure until repaid, Expenses covered by this paragraph Include, without limitation,
however subject to any lìmits under applicable law, Lender's reasonable attorneys' fees and Lender's leg.1 expenses whether or not there is
¡¡ lawsuit, including re8lon¡¡ble attorneys' fQes and upen,.s for bankruptcy proceedings (including efforn to modlfv or vacllte any
automatic stay or Injunction), appeals, ¡md any anticipated post·judgment cellectlon services, the cost of searching records, obtaining title
reports !including foreclosure reports), surveyors' reports, and aþpr;¡ls¡¡1 fees, title Insurance, and fees for the Trustee, to the extent
permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law.
MISCEL.LANEOUS PROVISIONS, The following miscell¡¡neous provisIons are a part of this A..lgnment:
Amendments, This Assignment, together with any Rel<lted Documents, constitutes the entire understøndlng and agreement of the parties
as to the matters set forth in this Assignment. No alteration of of amendment to this Assignment shall be effectivIJ unlns given In writing
and signed by the party or parties sought to be oharged or bound by the alteration or amendment.
Caption He¡¡dings. Caption headings In this Assignment are for convenience purposes only and arQ not to be u.ed to Interpret or define the
provisions of this Assignment.
GOllernin9 Lew. This ASII;ignment wìll be governed by federal law appliçable to Lender and, to the .xtent not preempted by feder.II""'" the
laws of the St¡¡te of Wyoming without regard to Its confflcts of law provblions. Ttlis Assignment has be.n acc.pted by Lender in the State
of Wyoming.
Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the Covrts of Lincoln County,
State Of Wyoming.
Joint and Several LiabìllW. AU obligations of Borrower and Grantor under this Assignment shall be joint IInd several, and all ref.rences to
Gr¡¡ntor shall mean each ¡¡nd every Grantor, and ell references to Borrower shall mean each ¡¡nd every Borrower. This means that each
Grantor signing below Is responsible for all obligations in this Assignment.
Merg~r. Ther. sh¡¡1I be no merger of the interest or estate created by this .!IIsignment with any other interest Or estete In th, Property at
any tIme held by or for the benefit of L.ender in any capacity, without the written consent of Lender.
Interpretation. (1) In 11111 cases where there Is more than one Borrower or GrantOr, then a\l words used in this Assignment In the ,Ingul¡¡r
shall be deemed to halle been used In the plural where the context and construction 110 rlilQuire. (21 If more than one person signs this
Assignment 85 "Gr¡¡"tor," the obligations of e¡¡ch Grantor are joint and nveral, This means that if Lend.r bring. 8 lellVsult, Lender may sue
anyone or more of the Grantors. If Borrower and Grantor are not the serne person, Lender need not sue Borrower first, and that Borrower
need not be joined in any lawsuit. 13) The nam.. gillen to paragraphs or sections in this Assignment are for convenience purpose. only.
They are not to be used to interpret or deline the provisions of this Assignment.
No Waiv.r by Lender. Lender shall nQt be deemed to have waived any rights under this Assignment unless suoh waiver is given In writing
and signed by Lender. No delav or omission on the part of Lender in exercising any right shall operate liS II waiver of such right or any
Other right. A waillar by Lender of a provision of this Assignment shall not prejvdloe or constitute a waiver of Lender's right otherwise to
dftmand strIct compliance with that provision or any other provision of this Assignment. No prior waiver by Lender, nor any course of
dealing between Lender ¡md Grantor, shall oonstitute a waiver of any of Lender', rights or 01 any of Grantor's obltg8'tions as to any future
transaction$. Whenever the consent of Lender is required under this Assignment. tha granting of such consent by Lender In any instance
shall not oonstitute continuing consent to subsequent instances where such con5ent is required and In all cases such consent may be
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ASSIGNMENT OF RENTS
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granted or withheld In the sole discretion of Lender.
Notices. Any nOtice required tD be given under this Assignment shall be gillen in writing. and ahall be effective when actually delivered,
when aCtually received by telef;¡cslmile lunls.. otherwise required by I;¡w). when depQslted with a nationally recogni2ed overnigtot courier,
Dr, If mlliled, when deposited In the United States mail, as first class, certified or registered mail postage prepaId, directed to the addresses
shown near the beginning of this Aaslgnment. Any party may change its address for notices under this Assignment by giving formal
written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For 110tlce pvrposes, Grantor
agrees to keep Lender informed at all times of Grantor's current eddress. UnlQ/ls othQrwise provided or required by law, if there 1& more
then Qne Grantor, any notice given by Lender to any Grantor is deeme to be notice given to all Grantors,
Powers of Attorney. The various agencies and powers of attorney c nlleyed on Lender under this Assignmønt are granted for purposes of
security and may nQt bll revQklld by Grilntor vntil &uch time 118 the Sill e are renounced by Lender.
Sev\lrabillty. If a COurt of competent jurisdiction finds any provision of this Assignment to be illegal. invalid, or unQnforceable as to any
circumstance, that finding shall not make the offending provision lIIeg I, invCllid. or unenforceable as to any other circumstance. If feasible,
the offending provision shall be considered modified so that it beoome legal, valid and enforceable. If the offending provision cannot bQ so
modified, it shall b. considered deleted from this Assignment, Unless otherwise required by law. the illegality, InvalidIty, or unenforceabillty
of Cloy provision of this Assignment shall not affect th\llegillítY, villldit or enforceability of iilny other provision of this Assignment.
Succeseors and Assigns. Subject to any limitations stated in this A slgnment Qn transfer Qf Grantor's interest, this Assignment shall be
binding upon and inure to the benefit of the parties, their successors nd assigns. If ownership of the Property becomes vested in a person
Other thim Grantor, Lender. without notice to Grantor, may deal wi h Grantor's successors with referenoe to this Assignment and the
Indebtedness by WëlY of forbearance or extension without releasing rantor frQm the QbligatiDns of this Assignment Qr liability under the
Indebtedness.
Time is of the Essence. TimQ Is of the euenCe in the performance of his Assignment,
Wlllve Jury. All partl.s to this A.si\:lnment hereby wi!live the right to ny jury trial in any action, proceeding, or counterclaim brought by any
party again.t eny other party.
WAIVER OF HOMESTt:AD EXEMPTION. Grantor hereby releases and WI vas all rights and benefits of the homestead exemption laws of the
Stëlte of Wyoming as to elllndabtedness seCured by this Assignment,
WAIVER OF RIGHT OF REDEMPTION. NOTWITHSTANDING ANY THE PROVISIONS TO 'THE CONTRARY CONfAIN"D IN ïHIS
ASSIGNMI;NT, GRANTOR HEREBY WAIVËS ANY AND ALL RIGHTS OF EDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT OF
FORECLOSURE ON GRANTOA'S BEHALF ANO ON BEHALF OF EACH AN EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF GRANTOR,
ACQUlRINQ ANY INTEREST IN OR TITLE TO THE PROPERTY SUBSeQUEN TO THE DATE OF THIS ASSIGNMENT,
DEFINITIONS. The following capitallz\ld words Clnd terms shall have the f lIowing meanings when used in this Assignment. Unless specifically
stated to the cQnt~ary, .11 references to dQllar IImounts shall mean amQUnt In IClwfvl money of the United States of America. Words and terms
used in the singular shall inclvde the plural, and the plural shall include the ingular, as the context may require. Words and terms not otherwise
definad in this Assignment shall have th8 m;anlngs attrlbutetl to such term In the Uniform Commercial Code:
Assignment. The word" Assignment" means this ASSIGNMENT OF ENTS, as this ASSIGNMENT OF RENTS may be IIm\lnded or modifietl
from time tD time, together with all exhibits and schedules attached t this ASSIGNMENT OF RENTS from time to time.
BorrQw\lr. The word "Borrower" means St\lve Sharp Tr~msportion, In ..
Default The WOrd "Default" means the Default $at forth in this Assig ment In the section titled "Default",
Event of Default. The words "Event of Default" melln any of the eVe ts Df default set forth in this Assignment in the deflllult section of this
Assignment.
Grantor. The word "GrantQr" means Steve Sharp.
Guaranty. The word "Gullrðnty" means the guaranty frDm guara or, endorser, surety, or accommodation party to Lender, including
withOut Iimitatiol1 a guaranty of all or parr of the NQte.
fnd\lbter;lnees. The word "Indebtedness" munl all principal, interes end other amounts, costs and expenses payable under the Not. or
Related Documant$¡ together with all renewals of. extansions of, odlfications of, consolidations of and substitutions for the Note or
Related Documents and any amounts expended or advanced by Lende to discharge GrantQr's Qbllgilt10ns or expenses Incurred by Lender to
enforc\I Grantor's obligations under this Assignment, together wíth int rest on such amounts as provided In this Assignment.
Lender. The word "Lender" means BANK OF THE WEST, its succes& rs and assigns.
Note. The word "Note" means the promissory note dated December 1,2006, in the original principal amount of $108,930.00
from Borrower to Lender, together with all renewals of, extensions of, mOdifications of, refinøncings of, consolidations of, and substitutions
for the promissory note or agreement.
Property. The word "PrDPlilrty" meims all of Grantor's rIght. titla an interest in and tD all the Property 8' ðescribed In the "Assignment"
section 01 this ASBlgnment.
Related Documents. The words "Related Documents" mean all pr mlssory notes, credit agreements, loan agreements, environmental
agreements. guaranties, securIty agreements, morrgages, dll\ldS of t I,Ist, securIty deeds, collateral mortgages, and all other Instruments,
agreements al1d documents. whether nDW or herellfter existing, execu ed in connection with the Ind\lbtedness.
Rel1ts. The word "Rents" melllns all of Grantor's present and futUre ri hts, title and interest in. to and under any and all present and future
leases. including, without limitation. all rents. revenue, Income, issue , royalties, bonu,ses, accounts raceivabla, cash or seourity deposits,
advence rentals, profits and proceeds from the Property, and other ayments anð benefits derived or to be derived from such leases of
every kind and nature, whether due now or later. including without limitation Grantor's right to enforce such leeses and to rQceive and
Collect payment end procaeds thereunder,
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Loan No; ~-, ~
ASSIGNMENT Of RENTS
(Continued)
000-'389
Page 6
THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF 'THIS ASSIGNMENT. THIS DOCUMENT 15 EXECUTED ON
DECeMBI:R 11, 2006.
:ãZ¥~
Steve Sharp,
INDIVIDUAL ACKNOWLEDGMENT
STATE OF ~~~______
COUr-lTY OF~~~_~_u____
I
ISS
I
ALTA MARIE WATHEN
Wyømlng
Notary Public, County of Lincoln
My Commission Expires
October 12, 2008
On this d¡y before me, tho undersigned Notary Public, pOfsonally appeared Steve Sharp, to me known to be 'the individu.d described in and who
executed the ASSIGNMENT OF RENTS, and IIcknowledged that he or she signed the Assignment as his or her free and voluntary IIct IInd deed,
for the usn and purposes therein mentioned. 'ß ~
Given un~er my hand and offici I seal this t) day of ~C ~\'"1....:b ~ {
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B \ \ ~'f\ ReSiding at bï::) o..L
Notary Public In and for the Stat. Of\..t 'J~.\ 11 (
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DEC, 13. 2006 4: 02PM
BANK OF THE WEST
NO, 965
p, 2
..
09261.1.2
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000390
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Part of Lot 1 of Block 1 of the Stoner-Kinney First Acfdition to the TOWh of
Cokeville, Lincoln County, Wyoming b$Îng more particularly described as fono~:
Commencing at iI point 48 feet -East of the Southwest corner of said lot 1 thence
North 121- feet,
thence East 34.5 feet;
, thence South 121 f@et¡
thetICè West 34,5 feat to the poínt of beginníngy
ALSO
Part of Lot 1 of the Stoner-Kinney First Addition to the Town of Cokeville, Ljl1coln
County'. WY0'!l'lng beIng more partioularly de$oribed as follows:
. ,
Commencing at the Southeast comer of said Lot 1; thence running due West
from above said corner, 65 feetj
thence North 170 feét;
thenoe Ëa$t as feet;
thence South 170 feet to corner stake and place of.b~glnnlng, .
LESS AND EXCEPT any land contained in Warranty Deed recorded September
9, 1909 in 8001<42 of Deeds on Pagê 243 of the reoords of the Linooln County
Clerk.
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