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HomeMy WebLinkAbout926266 \J:I 000809 RECEIVED 1/23/2007 at 10:39 AM RECEIVING # 926266 BOOK: 646 PAGE: 809 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY :Jf~/03C¡ State of Wyoming Space Above This Line For Recording Data REAL ESTATE MORTGAGE (With Future Advance Clause) 1. DATE AND PARTIES. The date of this Mortgage is 01·12·2007 are as follows: and the parties and their addresses MORTGAGOR: SALT RIVER RANCH, LLC A WYOMING LIMITED LIABILITY COMPANY 2401 LAKE PARK DRIVE, SUITE 355 SMYRNA, GA 30080 ( {.. v, tf o Refer to the Addendum which is attached and incorporated herein for additional Mortgagors. 4 LENDER: BANK OF JACKSON HOLE ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF WYOMING 990 W. BROADWAY P.O. BOX 7000 JACKSON, WY 83002 2. MORTGAGE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (hereafter defined), Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property: REFER TO "EXHIBIT A" ATTACHED HERETO AND MADE A PART HEREOF 7 07') Soú ), .. I , The property is located in LINCOLN at COUNTY RD 12·104 (C ounty) , ALPINE , Wyoming 83128 (Address) (Cltyl (Zip Code) Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all diversion payments or third party payments made to crop producers, and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described above (all referred to as "Property"). The term Property also includes, but is not limited to, any and all water wells, water, ditches, reservoirs, reservoir sites and dams located on the real estate and all riparian and water rights associated with the Property, however established. WYOMING· AGRICUL TURAL/COMMERCIALREAL ESTATE SECURITY INSTRUMENT (NOT FOR FNMA, FHLMC, FHA OR VA USE, AND NOT FOR CONSUMER PURPOSES) (pege 1 of 8) ~ ©1993, 2001 BankersSystems.lnc.. St. Cloud, MN Form AGCQ-RESI-WY 1/16/2003 ~ ", t!' , 092l)Z6G 0008:10 3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this Mortgage at anyone time shall not exceed $ 3.027.500.00 , This limitation of amount does not include interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and other charges validly made pursuant to this Mortgage and does not apply to advances (or interest accrued on such advances) made under the terms of this Mortgage to protect Lender's security and to perform any of the covenants contained in this Mortgage. Future advances are contemplated and, along with other future obligations, are secured by this Mortgage even though all or part may not yet be advanced. Nothing in this Mortgage, however, shall constitute a commitment to make additional or future loans or advances in any amount, Any such commitment would need to be agreed to in a separate writing. 4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is not limited to, the following: A. The promissory note(s), contract(sl, guaranty(ies) or other evidence of debt described below and all extensions, renewals, modifications or substitutions. (When referencing the qebts below it is suggested that you include items such as borrowers' names and addresses, note principal ambunts, commercial revolving loan agreement's maximum amount, interest rates, variable rate terms, maturity date , etc.) PROMISSORY NOTE 118888 DATED JANUARY 12, 2007 IN THE AMOUNT OF $3,027,500.00 I B. All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender under any promissory note, contract, guaranty, or other evidence of debt existing now or executed after this Mortgage whether or not this Mortgage is specifically referred to in the evidenþe of debt. C. All obligations Mortgagor owes to Lender, which now exist or may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. : D. All additional sums advanced and expenses incurred by Lender for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of this Mortgage, plus interest at the highest rate in effect, from time to time, as provided in the Evidence of Debt. E. Mortgagor's performance under the terms of any instrument evidencing a debt by Mortgagor to Lender and any Mortgage securing, guarantying, or otherwise relating to the debt. If more than one person signs this Mortgage as Mortgagor, each Mortgagor agrees that this Mortgage will secure all future advances and future obligations described above that are given to or incurred by anyone or more Mortgagor, or anyone or more Mortgagor and others. This Mortgage will not secure any other debt if Lender fails, with respect to such other debt, to make any required disclosure about this Mortgage or if Lender fails to give any required notice of the right of rescission. 5. PAYMENTS. Mortgagor agrees to make all payments on the Secured Debt when due and in accordance with the terms of the Evidence of Debt or this Mortgage. 6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor's payment, Mortgagor will defend title to the Property against any claims that would impair the lien of this Mortgage. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses which Mortgagor may have against parties who supply labor or materials to improve or maintain the Property. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encu1brance on the Property and that may have priority over this Mortgage, Mortgagor agrees: A, To make all payments when due and to perform or bomply with all covenants. B. To promptly deliver to Lender any notices that Mor,gagor receives from the holder. C. Not to make or permit any modification or extension of, and not to request or accept any future advances under any note or agreement secured by, the other mortgage, deed of trust or security agreement unless Lender consents in writing. i I 8. DUE ON SALE OR ENCUMBRANCE. Lender may, at its :option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of any lier, encumbrance, transfer, or s¡¡le, or contract for any of these on the Property. However, if the Property includes Mortgagor's residence, this section shall be subject to the restrictions imposed by federal law (12 C.F.R. 591 I, as applicable. For the purposes of this section, the term "Property" also includes any interest to all or any part of the Property. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Mortgaige is released. I ~ ©1993, 2001 eankersSvstems.lnc.. St. Cloud, MN Form AGCO.RESI!WV 1/16/2003 I I ¥ (page 2 of 8) 09262Gf; 9. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an entity other than a natural person (such as a corporation or other organization), Lender may demand immediate payment if (1) a beneficial interest in Mortgagor is sold or transferred; (2) there is a change in either the identity or number of members of a partnership or similar entity; or (3) there is a change in ownership of more than 25 percent of the voting stock of a corporation or similar entity. However, Lender may not demand payment in the above situations if it is prohibited by law as of the date of this Mortgage. 10. ENTITY WARRANTIES AND REPRESENTATIONS. If Mortgagor is an entity other than a natural person (such as a corporation or other organization), Mortgagor makes to Lender the following warranties and representations which shall be continuing as long as the Secured Debt remains outstanding: A. Mortgagor is an entity which is duly organized and validly existing in the Mortgagor's state of incorporation (or organization). Mortgagor is in good standing in all states in which Mortgagor transacts business. Mortgagor has the power and authority to own the Property and to carryon its business as now being conducted and, as applicable, is qualified to do so in each state in which Mortgagor operates. B. The execution, delivery and performance of this Mortgage by Mortgagor and the obligation evidenced by the Evidence of Debt are within the power of Mortgagor, have been duly authorized, have received all necessary governmental approval, and will not violate any provision of law, or order of court or governmental agency. C. Other than disclosed in writing Mortgagor has not changed its name within the last ten years and has not used any other trade or fictitious name. Without Lender's prior written consent, Mortgagor does not and will not use any other name and will preserve its existing name, trade names and franchises until the Secured Debt is satisfied. 000811 11. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor will give Lender prompt notice of any loss or damage to the Property. Mortgagor will keep the Property free of noxious weeds and grasses, Mortgagor will not initiate, join in or consent to any change in any private restrictive covenant, zoning ordinance or other public or private restriction limiting or defining the uses which may be made of the Property or any part of the Property, without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor or any other owner made under law or regulation regarding use, ownership and occupancy of the Property. Mortgagor will comply with all legal requirements and restrictions, whether public or private, with respect to the use of the Property. Mortgagor also agrees that the nature of the occupancy and use will not change without Lender's prior written consent. No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent except that Mortgagor has the right to remove items of personal property comprising a part of the Property that become worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value to the replaced personal property, free from any title retention device, security agreement or other encumbrance, Such replacement of personal property will be deemed subject to the security interest created by this Mortgage. Mortgagor shall not partition or subdivide the Property without Lender's prior written consent. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 12. AUTHORITY TO PERFORM. If Mortgagor fails to perform any of Mortgagor's duties under this Mortgage, or any other mortgage, deed of trust, security agreement or other lien document that has priority over this Mortgage, Lender may, without notice, perform the duties or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may do whatever is necessary to protect Lender's security interest in the Property. This may include completing the construction. Lender's right to perform for Mortgagor shall not create an obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the law or this Mortgage, Any amounts paid by Lender for insuring, preserving or otherwise protecting the Property and Lender's security interest will be due on demand and will bear interest from the date of the payment until paid in full at the interest rate in effect from time to time according to the terms of the Evidence of Debt, 13. ASSIGNMENT OF LEASES AND RENTS. Mortgagor assigns, grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in the following (Property), A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, including but not limited to, any extensions, renewals, modifications or replacements (Leases). B. Rents, issues and profits, including but not limited to, security deposits, minimum rents, percentage rents, additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claims which Mortgagor may have that in any way pertain to or are on account of the use or occupancy of the whole or any part of the Property (Rents), In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be regarded as a security agreement. ~M ©1993, 2001 Bankers Systems, Inc"S\, Cloud, MN Form AGCO-RESI-WY 1/16/2003 ~ (page 3 of 8) 0926266 000812 Mortgagor will promptly provide lender with copies of the leases and will certify these leases are true and correct copies. The existing leases will be provided on execution of the Assignment, and all of the future leases and any other information with respect to these leases will be provided immediately after they are executed. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default. Mortgagor will not collect in advance any Rents due in future lease periods, unless Mortgagor first obtains lender's written consent. Upon default, Mortgagor will receive any Rents in trust for lender and Mortgagor will not commingle the Rents with any other funds, When lender so directs, Mortgagor will endorse and deliver any payments of Rents from the Property to lender. Amounts collected will be applied at lender's discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and other necessary expenses. Mortgagor agrees that this Security Instrument is immediately effective between Mortgagor and lender. This Security Instrument will remain effective during any statutory redemption period until the Secured Debts are satisfied. Unless otherwise prohibited or prescribed by state law, Mortgagor agrees that lender may take actual possession of the Property without the necessity of commencing any legal action or proceeding. Mortgagor agrees that actual possession of the Property is deemed to occur when lender notifies Mortgagor of Mortgagor's default and demands that Mortgagor and Mortgagor's tenants pay all Rents due or to become due directly to lender, Immediately after lender gives Mortgagor the notice of default, Mortgagor agrees that either lender or Mortgagor may immediately notify the tenants and demand that all future Rents be paid directly to lender. As long as this Assignment is in effect, Mortgagor warrants and represents that no default exists under the leases, and the parties subject to the leases have not violated any applicable law on leases, licenses and landlords and tenants. Mortgagor, at its sole cost and expense, will keep, observe and perform, and require all other parties to the leases to comply with the leases and any applicable law, If Mortgagor or any party to the lease defaults or fails to observe any applicable law, Mortgagor will promptly notify lender. If Mortgagor neglects or refuses to enforce compliance with the terms of the leases, then lender may, at lender's option, enforce compliance. Mortgagor will not sublet, modify, extend, cancel, or otherwise alter the leases, or accept the surrender of the Property covered by the leases (unless the leases so require) without lender's consent, Mortgagor will not assign, compromise, subordinate or encumber the leases and Rents without lender's prior written consent. lender does not assume or become liable for the Property's maintenance, depreciation, or other losses or damages when lender acts to manage, protect or preserve the Property, except for losses and damages due to lender's gross negligence or intentional torts. Otherwise, Mortgagor will indemnify lender and hold lender harmless for all liability, loss or damage that lender may incur when lender opts to exercise any of its remedies against any party obligated under the leases. 14. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes a unit in a condominium or a planned unit development, Mortgagor will perform all of Mortgagor's duties under the covenants, by-laws, or regulations of the condominium or planned unit development. 15. DEFAULT. Mortgagor will be in default if any of the following occur: A. Any party obligated on the Secured Debt fails to make payment when due; B. A breach of any term or covenant in this Mortgage, any prior mortgage or any construction loan agreement, security agreement or any other document evidencing, guarantying, securing or otherwise relating to the Secured Debt; C. The making or furnishing of any verbal or written representation, statement or warranty to lender that is false or incorrect in any material respect by Mortgagor or any person or entity obligated on the Secured Debt; D. The death, dissolution, or insolvency of, appointment of a receiver for, or application of any debtor relief law to, Mortgagor or any person or entity obligated on the Secured Debt; E. A good faith belief by lender at any time that lender is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment is impaired or the value of the Property is impaired; F. A material adverse change in Mortgagor's business including ownership, management, and financial conditions, which lender in its opinion believes impairs the value of the Property or repayment of the Secured Debt; or G. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible land or to the conversion of wetlands to produce an agricultural commodity, as further explained in 7 C.F.R. Part 1940, Subpart G, Exhibit M, 16. REMEDIES ON DEFAULT. In some instances, federal and state law will require lender to provide Mortgagor with notice of the right to cure, mediation notices or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if any, lender may accelerate the Secured Debt and foreclose this Mortgage in a manner provided by law if this Mortgagor is in default. At the option of lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter, In addition, lender shall be entitled to all the remedies provided by law, the Evidence of Debt, other evidences of debt, this Mortgage and any related documents including without limitation, the power to sell the Property. All remedies are distinct, cumulative and not exclusive, and the lender is entitled to all remedies provided at law or equity, whether expressly set forth or not. The acceptance by lender of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of lender's right to require full and complete cure of any existing default. By not exercising any remedy on Mortgagor's default, lender does not waive lender's right to later consider the event a default if it continues or happens again. ~ © 1993, 2001 Bankers Systems, Inc., St. Cloud, MN Form AGCO-RESI·WY 1/16/2003 £L (page 4 of 8) 0926266 0008j,3 17. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COllECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of lender's expenses if Mortgagor breaches any covenant in this Mortgage. Mortgagor will also pay on demand all of lender's expenses incurred in collecting, insuring, preserving or protecting the Property or in any inventories, audits, inspections or other examination by Lender in respect to the Property. Mortgagor agrees to pay all costs and expenses incurred by Lender in enforcing or protecting Lender's rights and remedies under this Mortgage, including, but not limited to, attorneys' fees, court costs, and other legal expenses. Once the Secured Debt is fully and finally paid, Lender agrees to release this Mortgage and Mortgagor agrees to pay for any recordation costs, All such amounts are due on demand and will bear interest from the time of the advance at the highest rate in effect, from time to time, as provided in the Evidence of Debt and as permitted by law. . " 18. ENVIRONMENTAL lAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental Law" means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERClA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) "Hazardous Substance" means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law, Mortgagor represents, warrants and agrees that, except as previously disclosed and acknowledged in writing: A. No Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or handled by any person on, under or about the Property, except in the ordinary course of business and in strict compliance with all applicable Environmental law, B. Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. C. Mortgagor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there is a violation of any Environmental Law concerning the Property, In such an event, Mortgagor will take all necessary remedial action in accordance with Environmental Law. D. Mortgagor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Mortgagor or any tenant of any Environmental Law, Mortgagor will immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an event, Lender has the right, but not the obligation, to participate in any such proceeding 'including the right to receive copies of any documents relating to such proceedings, E. Mortgagor and every tenant have been, are and shall remain in full compliance with any applicable Environmental Law. F. There are no underground storage tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. G. Mortgagor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and complied with. H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all records at any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environmental Law. I. Upon Lender's request and at any time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified environmental engineer to prepare an environmental audit of the Property and to submit the results of such audit to Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's approval. J. Lender has the right, but not the obligation, to perform any of Mortgagor's obligations under this section at Mortgagor's expense. K. As a consequence of any breach of any representation, warranty or promise made in this section, (1) Mortgagor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all losses, claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses, including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Mortgage and in return Mortgagor will provide Lender with collateral of at least equal value to the Property secured by this Mortgage without prejudice to any of Lender's rights under this Mortgage. L. Notwithstanding any of the language contained in this Mortgage to the contrary, the terms of this section shall survive any foreclosure or satisfaction of this Mortgage regardless of any passage of title to lender or any disposition by Lender of any or all of the Property, Any claims and defenses to the contrary are hereby waived. 19. CONDEMNATION. Mortgagor will give Lender prompt notice of any action, real or threatened, by private or public entities to purchase or take any or all of the Property, including any easements, through condemnation, eminent domain, or any other means. Mortgagor further agrees to notify Lender of any proceedings instituted for the establishment of any sewer, water, conservation, ditch, drainage, or other district relating to or binding upon the Property or any part of it. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or claims and to collect and receive all sums resulting from the action or claim. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Mortgage. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. Ex{5iiiitl.M ©1993, 2001 Bankers Systems,lnc,. St, Cloud. MN Form AGCO-RESI-WY 1/16/2003 34- (pege 5 of 8) õ~26266 OOOB14 20. mŠ"fJRANCE. Mortgagor agrees to maintain insurance as follows: A. Mortgagor shall keep the Property insured against loss by fire, theft and other hazards and risks reasonably associated with the Property due to its type and location. Other hazards and risks may include, for example, coverage against loss due to floods or flooding, This insurance shall be maintained in the amounts anr;J for the periods that lender requires. What lender requires pursuant to the preceding two sentences can change during the term of the Secured Debt. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to lender's approval, which shall not be unreasonably withheld. If Mortgagor fails to maintain the coverage described above, lender may, at lender's option, obtain coverage to protect lender's rights in the Property according to the terms of this Mortgage. All insurance policies and renewals shall be acceptable to lender and shall include a standard "mortgage clause" and, where applicable, "lender loss payee clause." Mortgagor shall immediately notify lender of cancellation or termination of the insurance. lender shall have the right to hold the policies and renewals. If lender requires, Mortgagor shall immediately give to lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance carrier and lender. lender may make proof of loss if not made immediately by Mortgagor. Unless lender and Mortgagor otherwise agree in Writing, insurance proceeds shall be applied to restoration or repair of the Property damaged if the restoration or repair is economically feasible and lender's security is not lessened. If the restoration or repair is not economically feasible or lender's security would be lessened, the insurance proceeds shall be applied to the Secured Debt, whether or not then due, with any excess paid to Mortgagor. If Mortgagor abandons the Property, or does not answer within 30 days a notice from lender that the insurance carrier has offered to settle a claim, then lender may collect the insurance proceeds. lender may use the proceeds to repair or restore the Property or to pay the Secured Debt whether or not then due. The 30-day period will begin when the notice is given. Unless lender and Mortgagor otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of scheduled payments or change the amount of the payments. If the Property is acquired by lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to lender to the extent of the Secured Debt immediately before the acquisition. B. Mortgagor agrees to maintain comprehensive general liability insurance naming lender as an additional insured in an amount acceptable to lender, insuring against claims arising from any accident or occurrence in or on the Property. C. Mortgagor agrees to maintain rental loss or business interruption insurance, as required by lender, in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing), under a form of policy acceptable to lender. 21. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to lender funds for taxes and insurance in escrow. 22. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to lender upon request, any financial statement or information lender may deem necessary. Mortgagor warrants that all financial statements and information Mortgagor provides to lender are, or will be, accurate, correct, and complete, Mortgagor agrees to sign, deliver, and file as lender may reasonably request any additional documents or certifications that lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Mortgage and lender's lien status on the Property, If Mortgagor fails to do so, lender may sign, deliver, and file such documents or certificates in Mortgagor's name and Mortgagor hereby irrevocably appoints lender or lender's agent as attorney in fact to do the things necessary to comply with this section. 23. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Mortgage are joint and individual. If Mortgagor signs this Mortgage but does not sign the Evidence of Debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. Mortgagor agrees that lender and any party to this Mortgage may extend, modify or make any change in the terms of this Mortgage or the Evidence of Debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Mortgage, The duties and benefits of this Mortgage shall bind and benefit the successors and assigns of Mortgagor and lender. If this Mortgage secures a guaranty between lender and Mortgagor and does not directly secure the obligation which is guarantied, Mortgagor agrees to waive any rights that may prevent lender from bringing any action or claim against Mortgagor or any party indebted under the obligation including, but not limited to, anti-deficiency or one-action laws. ~ ©1993, 2001 BankersSystams, Inc., St, Cloud, MN Form AGCQ-RESI-WY 1/16/2003 # (p8ge 6 of 8) ,09~6266 , ,.. ~ ... 000815 24. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Mortgage is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Mortgage is complete and fully integrated. This Mortgage may not be amended or modified by oral agreement. Any section or clause in this Mortgage, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section or clause of this Mortgage cannot be enforced according to its terms, that section or clause will be severed and will not affect the enforceability of the remainder of this Mortgage. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Mortgage are for convenience only and are not to be used to interpret or define the terms of this Mortgage, Time is of the essence in this Mortgage. 25. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Mortgage, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 26. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any right regarding the marshalling of liens and assets and all homestead exemption rights relating to the Property. 27. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Mortgage: o Construction Loan. This Mortgage secures an obligation incurred for the construction of an improvement on the Property. o Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property. o Crops; Timber; Minerals; Rents, Issues and Profits. Mortgagor grants to Lender a security interest in all crops, timber and minerals located on the Property as well as all rents, issues, and profits of them including, but not limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and similar governmental programs (all of which shall also be included in the term "Property"). o Personal Property. Mortgagor grants to Lender a security interest in all personal property located on or connected with the Property. This security interest includes all farm products, inventory, equipment, accounts, documents, instruments, chattel paper, general intangibles, and all other items of personal property Mortgagor owns now or in the future and that are used or useful in the construction, ownership, operation, management, or maintenance of the Property. The term "personal property" specifically excludes that property described as "household goods" secured in connection with a "consumer" loan as those terms are defined in applicable federal regulations governing unfair and deceptive credit practices. o Filing As Financing Statement. Mortgagor agrees and acknowledges that this Mortgage also suffices as a financing statement and as such, may be filed of record as a financing statement for purposes of Article 9 of the Uniform Commercial Code. A carbon, photographic, image or other reproduction of this Mortgage is sufficient as a financing statement. 28. OTHER TERMS. If checked, the following are applicable to this Mortgage: (X Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Mortgage will remain in effect until released. o Separate Assignment. The Mortgagor has executed or will execute a separate assignment of leases and rents. If the separate assignment of leases and rents is properly executed and recorded, then the separate assignment will supersede this Security Instrument's "Assignment of Leases and Rents" section. o Additional Terms. ~ © 1993, 2001 Banker. Systems, Inc.. St. Cloud. MN Form AGCO-RESI-WY 1/16/2003 Æ (pege 7 of 8) 0926Z66 0008~G SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Mortgage and in any attachments. Mortgagor also acknowledges receipt of a copy of this Mortgage on the date stated above on Page 1. o Actual authority was granted to the parties signing below by resolution signed and dated Entity Name: SALT RIVER RANCH. LLC A WYOMING LIMITED LIABILITY COMPANY I I f\1 ANAGER (Date) (Signature) (Date) (Slgnatura) (Date) (Signature) (Date) o Refer to the Addendum which is attached and incorporated herein for additional Mortgagors, signatures and acknowledgments. (Indivlduen ACKNOWLEDGMENT: STATE OF , COUNTY OF This instrument was acknowledged before me this by My commission expires: } ss. day of (Notary Public) STATE or '''''UftlNG ~ ~~~~\A... ,COUNTY OF This instrument was acknowledged'before me this /1 by EDWARD L. TERRY IBusln... SOLE MEMBER. MANAGER or Entity Acknowledgmentl of SALT RIVER RANCH. LLC A WYOMING LIMITED LIABILITY COMPANY a WYOMING My commission expires: day of (Tltle(s)) (Name of Business or Entity) on behalf of the business or entity. S 19 }~I \) \\\\'"111/1"'11/ ~\,\' ~ Co IIII~ ~""/.i \\\;UIIU.It""l.$- ~~ ~ J"Û.v:...,\\\~ p.-,.R y """'/of. ~ .... ~--~o'\. ~.... S'5f/~ s" ~ ª :s ! '<::; jJ)\~€í':~ þo. ~ ~ = ª '(:: 0\l....\..\...0 ¡¡ = $ \ Üt,,-~ ,,9 '¡ ¡".~] ~ ~ '\ ~r ,vI ~ ~ "~'''' :v .......~ ~ ~ "'" Pu'\) ,\\\..~ ~ ~ Q ""'11111,,1\'\\ cv .§' ;fllllll IËkALß \\\\\\'" /1111/1111111 \ \\ \\ ~~) yy-.... ,~ (Notary Pu\lic) ~ © 1993, 2001 Bankers Systems, Inc" St, Cloud, MN Form AGCO-RESI-WV 1/16/2003 (page 8 of 8) r:..\l1W LJ. A 0326266 PARCEL 1: r.¡;:C,\L D£SCnIP1'IO/l .~ 'I'hQ trò1,C:-:: of land in t.ote £', J, , ., tha SW':Nr.':.:. and the SEI; o{ SectIon 9,'l'J&If, rUl~', 5tl1 P,:1., Lincoln county, IlyoDl.1.nq, dc:c:r.1beú In t:he I.'ArrOlner Dcp.d roc:oL'dad in Book lÐ4,pR, paae SJ9. In t:ha oCric:o of '::hc Clerk of Lincoln cour.t:y, \lyo:ÜJq', and rode:c:riboå as rollaws, bø:cd on ~ 1991 ~io¡d =urvey: . Beqinninq at a 2- diacBter 'Ùon piplol \lith bras:: cap mi1rkinq the Gcuthwest c:orn~ at said SÐcti~n 9, 'I'hcnc:o " 00· (J' 5'" II, Z9Sl. 08 'act o.lonq the Wyocinq-rdaho , StQ tc; ,pna to an 2" di.aÐøter aluminum pipe '..lith c:ap aarkinq an ~Idahö closint¡ cornor¡ , Ttiðnco con~ir.uin9 dOnt] sòld StatQ line rr OC- .cG' 57" c:, 1J9.29 raet to a po~: '['hlln,::e ~l S.,. JO' ~" t, JH. "2 tut alont¡ tho cout:.h linlt of Lot 15, Alpine R~t:rlUlt ·Str.bdi·tiGion 110. 1 (reccrc1czd iLS p13t no. ~02 in said ~lQry.·, QCX!cal eD, a, point: Markinq tha SCU~~.ftst cornBr o~ ~n4d Lot L5; . ThQnr.:e =outhlluta:l~, 492.J6 faat, alcnq t:hll! ::::iqJ'Jt:.-of~way 11na cf Alpino Hcadøv Loop, coincident ~ith ~a s~hvest:arly lino .pt ~aid Alpine Rct:r~at SUbdivision He. ~. fo12cwinq a curv~, ccnc:ave to ~e nortb~t, havinq a radius ot 260.00 fagt, and sUbtandad by ;¡ c:hc:rrd oC 5 60· 45' 00" E, <422. 02 '~t:, t.o a paint a~ reverSQ curva; , ThancB continuing alonq the south right-ol-vay line at gaid A1ping H~adoY Loop, coincidan~ with II :outharly lin. 0' the Åmandad Alpins Racreat SUbdlv1=icn No. 2 Crøcardgd &C plat: no. 10~ in said Clack's Otlic:a), 8~st!rJy, 225.&1 !aat, tollovinq a curve. concavœ to thaøo~th, huvinq a radius ot J49.J7!a8~, IInd .ubtendQd by :a cbcrd. aX: II GJ· J 0' 00 If E. 221.11. føet: to A paint; Thenc:e cont¡~· alonq ø~id riqht-a~-vay l~ ~ southerly subd.!.vic1on 11na, S ,-... oa' 00" .t, B.40 rQø.t. to a po~m: a! curvAture I ~Qnco contin~ alont¡ said right-of-way line and ,ubdjvi~ion 11ne, cauthea=tarly, 34.86 ~Bat, !olløvinq ill curve concave to the s~~st, havinq a radius of 25.0D !aat. and. lubtandod by a chard at S JB- OJ' 07" E, J2.10 !øat: to a p01nt: a! rllVllrl:1I CUrvll in tha VQ=1: riqht-o'-wZlY linll o! Forest Drive; Thence alonq tha vast right-ol-wðy line o! ~d Forest Dr!.ve, ,coincident vith tha ,1."Gst lina ot caid Alpin. RatrQA~ SUbdivision No. t. aou~hQrly, oa.02 ~Q8t, !ollovinq a curve ccnc~ve to tbe ~ baving, A radluc: 0' 260.00 teet and bœinq liubt1:lndcd 01' & òm::tI AS: S 07· 4IJ' D7" ~, 97. &0 tea1:; Tnon~Q cc~~~~ a10nq said riqht-of-vay 1iDa and Hubd1vi3!on linœ. 5 17· JO" DOM ~, 75J.17 !eat to a poin~; Thancs If 72· JO' 00" E, 50.00 feet: along the southern righ t- o!-w~y ling ot 3aid Faraet Criva, coincident uith a southerly bour.d~ry of said Alpine Ratreat' SUbdivision No.2, to a poin~; ThgnCB N 17" JD' OON W, ;B.16 ~eot along tho east riqht-o!- uay linll of ::aid Forest driva, ccd.ncidQnt uith an azu:t:arly bour.dary of said Alpb:ÞI R/lt:ut SUbdivision No.2. to IS point lIIarklnq tho SO:.1thwst cornar ot Lot 14 ot said Alpine Ret:ocat GUbdivision No. :; Th.nCA H 7J· 30' 00- t, 290.0& (gat to a point ~rkinq ~a eorner batvee.n 10"::.1: 1.c and 28 at sai d subdivision; Thence U 75· la' 17- E, 28S.S9 !oct to a point o.arking the IiOUthust corn!lr a! Aid Let 28: The.ncm S 00· OJ" 04" E. 9&3.06 !cat to a point: Thence S 99" JO' SJ" E, 7J4,96 'Qa~ to an intersaction ~it~ the ~a5~ lino or ~ parcel sy.cluctad !ram aaid ~arr3n~¥ deed rQcorded in, Bock lICPR, page 5JS; ':'hence 5 O¡- JO' 01" E, 124.45 feat .JIong' the lJe.!lt line. at said axcludcd parcal to a point of curv~ture: 1 of 5 000817 .", ,< '. ~'. \\ . I . ...., ~ · ~ .. O~126266 LBq~! D8~criptíon. S.c. 9 TJ6U Rl19U. con~inu8d_ Thencl! c:om:inuinq alcnq 311il1 "'.I:It: l.1.nll. scu1:.t1er ly I GJ. 6J 0008:18 !asC alcnq a cc:rve COnCAve to !::hll ",.sT:. havinqa radiu.s of B~O. aD !eQ~ and blli~ ~tlUldlJd by a chard at S 00- .cS' O?.. W, ,Ií~,. 61 , reaC to it po~ !ra=,vhi~ ~ ease ~ ccrnsr of sa~d Se~~on 9 .5 1470.62 !BeT:. narth and 9J6.61 !..e sasC: Thencs S 8S- JO' 01" E, 250.9B !ellc along !::he south lina ot said Bxcluded ~Br: Thencs /( 2,5- 55' 51" t, 227.64 lalll: along' t.bø ust 11MB of said excluded Plrt:al; Thencs S 19- JO' 5J" E,. JOó.72 'sec co a point approximacely SO !Bst easC at the .ase bank at ths Salt River; Thencs Par.üllJl vith, and SO !eaC essC at t..be meander at the sasC bank at the Salt Rivar ~ecQndarily described by the !ollcwinq .iqhc c:au.rsas: ' 5 25- 05' ~. ~, 385.84 Thencs S 11- 4" ~5" W, Thencs S 17- 19' 46" W, Thencs 5 :I- 07' 34" W, Thencs 5 60C -. ·~O' 10" W, Thance S r.r. en' 34" W, Thence S 15- QS' 22", E. Thenc~ S ~. 9' 02· W, line at SJud ~on 9; Thancs 5 ~. 46' 38" W, 1780.01 teec alanq said south lIne ,to an iron p,q,. vith brass cap III.IU:kinq e.be 50U1:b .I¡ carner 01: said ~ SeC1:ion g; ThencI!I . c:rmd.nuinq alon,q ths south llne 01:, said S~ction 9 5 89- 44' 49~ W. th. bas. baaring' !or thIs description, 659.79 rBe~ to Cbs Paim: 01: Beqinninq. fRet:: 9B.2J taee; 2.55. 65 !Be~; U2.5-4 teac; 1':14.60 teec; 152.40 rallc: 292.H teec; 155.09 .eaet: to a .. poinc on t::ha south Each abCTa ca.Ued 'ar ·paint· is mcnumantad vith a SIB inch dla..mB t:er rub.ar Vi t.b. cap inscri.bad. "PLS J 8:U. - . ß'rhøJ tJC::::;;;~~ø:;J R.ichud 1l. CrBanllood Wyominq PrO!Bsaional Land surveyor 5451' Juna 23, 139~ 2 of 5 " " ~ nü?626.6 P ARCU"~ 0003:1.9 A part af B~cttan 9. TJ6N" Rl19N, 6th Principal Ma~1diøn, Wyaminß~, Beginning at a point an the rfB~ S~ignht~la2f~7SwaY tine of K1Þb1a Parkway wh!ch paint eo aut .69 ft, anQ WeQt aa9.0J fç, ~rom the ,1U/4 Corner af aatd Bec~ian Ð, and runninß thance weat 415.a8 ft, to a pa~nt cn a Curve an ~Q~ Jß ,thence alang said C~e narthe:ty and ta the lett on a radius of 225,00 ft, a dtßçan(!e af 196.49 ft, ' t~ßDCe N51"00' CO" 2. 246,97 fç d thence a 39000' OQllé 7 ,23 ft, J thence along a 225 tt ratu'us curve to the ~Hla twHrd and ta thß tett a dol ..' l: '94 '19 thence B891130'OO"1:l 15 f .1h,.,anCa 0+ + '" ft;, ¡ 25 ~ t, I thence aou~hward an ~ , ;t, r~diU8 cU~ß to the right a diatan~ß of 39 27 ft: oJ thence SOl g 30' OD"W t 76 a~ ft: to the Doin t: af' , begtnntns. I, r, PARCEL 3: --.--- -. . .....-... - ... A BiKtY (60) foot tight-of-way (Ribble Pa;~way) being located thirty (3D) feet each aide 0; the ;cllcwing deBc~tbed centerline, ßßsinn1ns A~ a PQtn~ (aadtal , Be&rtng S18I1JO' OOIlE) on the' weat end o~ tha Sa1.t River , ar~dge. which ltea Bouth 295.73 ;t, and west a44,~¡ I' feet from the 21/4 Carner of ßac~iQn 9, T~6N, Rl¡9W, Sixth P,M" Wyoming nnd running thance ßouthweaterly , a¡ong a 1.80.00 foot radius curve to the laft: 304 I 73 ft,' ,to a point of tangency¡ thence ~251 30'OO" E 175,00 , ft. to a point of curve, thence aoutheaater¡y alcng I 'a 280,00 foot ~adiua curve to the ~ight 131,95 ft, I to a po!n t of tangency thence aO¡ II 30' OQ"W 446 189 ft. to the end of the sixty foot ri~ht.cfpway, . , I PARCEL 4: A¡so a fifty (50) faot rißhtpQ~-way (Caribc~ forest Drive) being 1.ocated twenty ftve, (2~) feet each ß~de of the fcl¡owtng deacribeQ centerline, aeginning ,at a paint (the interaecticn of Kibbie Parkway and Caribou Foreat Prive) which liaa South lQ49.fi7 ft, and W13Bt 853,10 ft, from the JH/4 Cernar of ' Section 9, T36N, Rl19W1 6th F,Mtt Wyoming and running thence N8aQJO'OO"W 70,uQ ft, to ß. pD:1.n~ of curve; thence no~thwasterly u1.onB a,200,OO feat radius curv~ to the riBht tn. 7~ ft', to a 'potn!: 'of t:angenCYI ' thence N 39°00'00" W 74,23 ft. ~c the ~nQ pf tho fifty (50) feot ~igh~~of-waYI 3 of 5 ~ fir: " 000820 O~-}26Z66 . . . :~':~?:~f{t~;:~':;';~::J~:~¡:.L:'~:·':¡::ii>',.~",:~:.:':",;::\,:",::.''-'' :~:" ,"":' " '.. .' . . .,'0' ". '.\,'. .~, ...' ". . , . . ".~ :':~ . : ,:" . ~ ." .'t' '"" . , .. . , : , " '...., '.. PARCEL 5: Beginning at the SE cor~er of Lot 28 of Alpine Retreat Subdivision No.2 a part of the east, 1/2 SE 1/4 Section 9, T.36 N., R. 119 W., Sixth Principal Meridian, WYand running thence northwesterly along a 645 ft. radius curve to the right a distance of 31.84 ft.; thence N 78 00'. E 50 ft.; thence N 12 00' W 80 ft.; thence N 78 E 240 ft.; thence S 12 00' E 80ft.; thence S 23 24' E 250 ft.; thehce N 87 30' E 203.27 ft.; thence northeasterly along a 210 ft. radius curve to the, right 97.67 it. along a 60 it. road right-of- way line; thence N 54 4,4' 41" W 210,'62 ft.; thence N 37 27' E 186 ft.; thence S 52 33' E 195 ft.; thence S 07 00' E 73.28 ft. to 'a 60 ft. wide access road right-of-way line; thence east along the north right-of-way line of an existing county road 140± ft. to a point 50 ft. east from the east bank of the Salt ~ver; thence southerly 1320.± ft. along a line parallel to and 50 ft. east from the east bank meander line of said river; thence west 1320+ ft.; -'. thence north 970..±. ft. to the point of, beginning excludiñg t'he fOllowing described property: (Beginning at a point which lies west 995.02 ft. and South 438.00 ft. more or less from the East 1/4 Corner Section 9, T. 36N., R. 119 w. Sixth Principal Meridian, Wyoming, said point being on the west Right-of-way of Kibbe Parkway, and running thence southerly along a 210.00 ft. radius .curve to the left a distance of 125.01 ft.; thence S 25' 30'00" E 96,42 ft.; thence, West 262.68 ft.; thence North 200~OO ft; thence N 87 jo'oo" E 203,.27 ft. to the point of beginning encompassing an area of 1. 04 acres more or less.), t · Containing a net area of 28.55 acres more or less, and excluding theref~om that one certain lot conveyed to Rex Robinson on Nov. 13, 1973, recorded Jan. 21, 1974 PR 108, Page 594, Lincoln County Wyo. records resulting in a Net area of 28 acres more or less. This deed shall be subject to existing easements of record or in Use to and for the benefit of any adjacent parcels of land. ALSO EXCEPTING THE FOLLOWING LEGAL DESCRIPTIONS 4 of 5 ~ O~--)Z6266 ' Ae~táfa~f ~;~~~~ 9'BTJfN'i' a119W, 6th Princtpal Wßsç ~i ht f R~l' eg nn ng at a point en the liea Bo~th·~2j~al9 finte afdKwtbbte Pø~kwsy which pain~ ßl/4 C " an, BQt a89.03 ft. tram the ' ot'ner af satd Bectien f , and J'unn1n,B çhencß weat 415.88 ft, to a paint on a curve en ~o~ 3B ,thence Aleng sQid C~e nart:her1y and te the la!t ~~a~;a~k¡~aåfo~~5å002IE'9a d~atan(!p of 196.49 it" 74,23 ft:, I thence aicmg à J2gÇkb t~:~f~B a~~;~~ I ~~"~h eaa ~n~d And tQ the left a di ~' ~ '94 e thence BB9Q30'OO"ß 15 f ß Ance a...... .~9 f~., 2~ ~t radius cu~ t t.1 thence aouthwBrd on B ft.,. thence SOlo30~ooftWt£76rãlh~ s diijthsnce of 39.27 beginning. ' +~, to t e point at - ..---- -.... ..... ... - ... A sixty (60) foot ~ght.of~way (~ibbie Far~way) baing located thirty (30) feet 6acn a~d6 of the following described centerline. Besinn1ng at a Egint (Rijdtal 'Beltr1ng ß1BØJO'00"2) cn the'went end of the aal~ River , 8r~dgeþ which lias Bouth 295.73 ft. anQ wea~ a44,~¡ I' feat frem the ~1/4 Corner o~aeg~1Qn a, TJ6N, Rl¡9W, Si~th P,M" Wyoming ijnd runnins thence ßouthwaaterly ; along a lBO, 00 foot t'adtus curve to tha left 304.73 ft,' " to a point of tangency ¡thence £1251130' 00" E 175,00 , ft, ta a point of curve, thenøe poutheasterly along I'~ 2BO.OQ feot ;adius curve to the right 131,95 ft, to a point af tangency, thence ~O¡1 30'OO"W 446,89 ft. to the end of the ai~ty foo~ ri~ht.cf.WRY, , , : I Alao a fifty (50) foct rißht·Qf.w~y (Caribou forest Ðrive) being located twent~ five, (2') feet each aide of the. following deacribß~ centerline, Beginntng ,~t ~ point (the intersection Dt Ribpie Parkway ~"d Caribou Forest Prive) which ¡iea Bouth 1049,07 ft. and Wes I: 853,10 £t. tram the ~1/4 Qorner 0 f ' Secticn 9, T36N, R119W1 6th P,M" Wyoming ~nd runn~ng thence N8aQJO'OO"W 70.uO ft, to a Foin~ of curve¡ thence northwesterly along a.200,OO feot radiua curv~ to ~he riBh t: 172. 79 £~. to a ·PQ~nt:. 'ot t:angenpy I . thence N 39°00'00" W 74.;!3 ft, ~o the ~nd of the fifty (50) feet t'ißht:"'af~wa>, I 5 of 5 ~ 000821