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HomeMy WebLinkAbout928932 U'UV-.J:J~ RECORDATION REQUESTED BY: Rocky Mountain Bank Rock Spring. 2515 Foothill Blvd PO Box 1770 Rock Spring., WY 82901 RECEIVED 5/1/2007 at 4:36 PM RECEIVING # 928932 BOOK: 656 PAGE: 394 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY WHEN RECORDED MAIL TO: Rocky Mountain Bank Rock Sprln9. 2515 Foothill Blvd PO Box 1770 Rock Spring., WY 82901 SEND TAX NOTICES TO: RANDY MANNIKKO lONDA K LAM PER P.O. BOX 397 ROCK SPRINGS. WY 82902 SPACE ABOVE THIS liNE IS FOR RECORDER'S USE ONLY 7Î ¿. (¿:7 ¡ 1 ~ t,.' MORTGAGE THIS MORTGAGE dated April 30, 2007, Is made and executed between RANDY MAN NIKKO and LONDA K LAM PER, AS TENANTS IN COMMON (referred to below as "Grantor") and Rocky Mountain Bank, whose address Is 2515 Foothill Blvd, PO Box 1770, Rock Springs, WY 82901 (referred to below as "Lender"), GRANT OF MORTGAGE. For valulble con.lderltlon, Grlntor mortgage. and convey. to lender all of Granlo~s right, title, and Interest In and to the following described real property, t0gether with all exlstln9 or subsequenUy erected or affixed buildings. Improvements and fixtures; all easements, rights of way, and appurtenances; all water. water rights, watercourses and ditch rights (including stock in utilities with dllch or Irrigation rights); and all other rights. royalties. and proflls relatlnij 10 the reel property, Including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located In LINCOLN County, State of Wyoming: See EXHIBIT "A", which Is attached to this Mortgage and made a part of this Mortgage as If fully set forth herein. The Real Property or Its address is commonly known as 129 E, 4TH AVENUE, LABARGE, WY 83123, The Real Property tax Identification number Is 12-2812-06-4-00·211,00, Granlor presently assigns to lender all of Granto~s righi, title, and Inlerest In and to all presenl and future leases of Ihe Property and all Renls from Ihe Property. In addition. Granlor grants to lender a Uniform Commercial Code security Interest In Ihe Personal Property and Rents. FUTURE ADVANCES, In addition 10 the Note, this Mortgage secures all future advances made by Lender to Granlor whether or not the advances are made pursuant to a commitment. Specifically, wlthoulllmllatlon. this Mortgage secures, In addition to the amounls specified In the Nole, all fulure amounts lender In Its dlscreUon may loan 10 Grantor, log ether wllh all Interest thereon. THIS MORTGAGE. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS MORTGAGE, THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided In this Mortgage, Grantor shall pay 10 lender all amounts secured by this Mortgage as they become dua and shall strictly perform all of Granto~s obligations under this Mortgage. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees Ihal Granto~s possession and usa of the Property shall be govemed by the following provisions: Po.....lon Ind U.e. Until tha occurrence of an Event of Default, Granlor may (1) remain In possession and control of the Property; (2) use, operale or manage Ihe Property; and (3) collect the Rents from Ihe Proparty. Duty to Mllntaln. Grantor shall maintain Ihe Property In tenantable condition and promptly perform all repairs. replacements, and maintenance necessary 10 preserve Its value. Compliance With Environmental lawI, Grantor represents and warrants to lender that: (1) During the period of Granto~s ownership of the Property, Ihere has been no use, generation. manufaclure, storage. trealment, disposal. release or threatened release of any Hazardous Substance by any person on. under. about or from the Property; (2) Granlor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and acknowledged by lender In writing, (a) any breach or violation of any Environmental laws, (b) any use, generation, manufacture. storage, treatment, disposal, releasa or threatened release of any Hazardous Substanca on, under, about or from the Property by any prior ownars or occupants of the Property, or (c) any actual or threatened litigation or claims of eny kind by any person relating 10 such matters; and (3) Except as praviously disclosed to and acknowledged by Lender In writing. (a) neither Granlor nor any tenant, contractor, agenl or other aulhorlzed usar of the Property shall use. generate, manufacture. store. treat, dispose of or release any Hazardous Substance on, under, about or from Ihe Proparty; and (b) any such activity shall be conducted in compliance with all applicable fedaral. stata. and local laws, regulations and ordinances, Including without IImltallon all Envlronmantal laws. Grantor authorizes lender and its agents to enter upon the Property to make such Inspections and tests. at Granto~s expense, as lender may deem appropriate to determine compliance of the Property with this section of the Mortgage. Any Inspections or tests made by lender shall be for lende~s purposes only and shall not be construed to create any responsibility or lIabllily on the part of lender to Grentor or to any other person. The representallons and warranties contained herein are based on Grantor's due diligence In investigating the Property for Hezerdous Substances. Grantor hereby (1) releases and waives any future claims against lendar for Indemnity or contribution In the event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to Indemnify. defend. and hold harmlass lender against any and all claims. losses, liabilities. damages. penalties, and expenses which lender may directly or Indirectly suslaln or suffer resulting from a breach of this section of the Mortgage or as a consequence of any use, generation, manufacture, storage, disposal, releasa or Ihreatened release occurring prior to Grenlo~s ownership or Interest In the Property, whether or not the same weS or should have been known to Grantor. The provisions of this section of the Mortgage. Including the obligation to Indemnify end defend, shall survive the payment of the Indebtedness and the setlsfactlon and reconveyance of the lien of this Mortgage and shell not be effected by lende~s acquisition of any Inlereslln the Property, whether by foreclosure or olherwlse. Nulssnc., Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the fore90lng, Grantor will not remove, or grant 10 any other party the right to remove. any limber, minerals (Including 011 and gas), coal, clay, scoria, soil, gravel or rock products without lende~s prior written consent. Removal of Improv.ments. Granlor shall not demolish or remOVe any Improvements from Ihe Rea! Property without lende~s prior written consent. As e condition to the removal of any Improvements. Lender may require Grantor to make arrangements satisfactory to lender to raplace such Improvements with Improvements of at least equal value. l.nd.~. Right to Entsr, lender and lender's agents and representatives may enter upon the Real Property at all reasonable times to attend 10 lender's Inlerests and to Inspect the Real Property for purposes of Grantor's compliance wllh the terms and conditions of this Mortgage. Compllanc. with Governmental Requirements. Grantor shall promptly comply with all lews, ordinances, and regulations, now or hereafter In effect, of all governmental authorities applicable to the use or occupancy of the Property, Including wllhoul limitation, the Americans With Dlsabllllles Act. Grantor may contesl In good faith any such law. ordinance, or regulation and withhold compliance during any proceedln9. Including appropriate appeals. so long as Granlor has notified lender In writing prior to doing so and so long as. In lende~s sote opinion, lende~s Interests In the Property are not jeopardized. lender may require Grantor to post adequate security or a surety bond, reasonably satisfactory to lender, to protect lender's Interest. Duty to Protect, Grantor agrees neither to abandon or leave unattended tha Property. Grantor shall do all other acls. In addition to those 7'\~ O~2tiS~ MORTGAGE (Continued) Page 2 000395 acts set forth above In this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property. TAXES AND LIENS, The following provisions relating to the taxes and liens on Ihe Property are part of this Mortgage: Payment. Grantor shall pay when due (and in all events prior to delinquency) ell taxes. payroll taxes, special taxes, assessments, water charges and sewer service charges levied against or on account of the Property, and shall pay when due all claims for work done on or for sarvlces rendered or material furnished to the Property. Grantor shall maintain the Property free of any lIans having priortty over or equal to the Interest of lender under this Mortgage, except for those liens specifically agreed 10 in writing by lender, and except for the lien of taxes and assessments not due as further specified In the Right to Contest paragraph. RIght to Contest, Grantor may withhold payment of any tax. assessment. or claim In connection with a good faith dispute over the obligation to pay, so long as lender's Interest In the Property Is not Jeoperdized. If a lien arises or Is filed as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or. If a lien Is filed. within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or If requested by lender, deposit with lender cash or a sufficient corporate surety bond or other security satisfactory to lender In an amount sufficient to discharge the lien plus any costs end reasonable ettorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest. Grantor shall defend Itself and lender and shall satisfy any advarse Judgment before enforcement against the Property. Grantor shall name lender as an additional obligee under any surety bond fumlshed In tha contest proceedings. Evldsncs of Paymsnt. Grantor shall upon demand furnish to lender satisfactory evidence of peyment of the taxes or assessments end shall authorize the appropriete governmental official to deliver to lender at any time a written statement of the taxes and assessments against the Property. Notice of Construction, Grantor shall notify lender at least fifteen (15) days before any work Is commenced, any sarvlces are fumlshed, or any materials are supplied to the Property, If any mechanic's lien. materialmen's lien, or other lien could be asserted on account of the work. services, or materials. Grantor will upon request of lender furnish to lender advance assurances satisfactory to lendar that Grantor can and will pay the cost of such Improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring the Property are a part of this Mortgage: Malntenancs of Insurance, Grantor shall procure and maintain policies of fire Insurance with standard axtended coverage endorsaments on a replacement basis for the full Insurable velue covering all Improvements on the Real Property In an amount sufficient to avoid eppllcatlon of any colnsurence cleuse, and with a standard mortgagee clause In favor of lender. Grantor shell· elso procure and maintain comprehensive general liability Insurance in such coverage emounts as lender may request with lender being named as addltlonellnsureds in such liability insurance policies. Additionally, Grantor shall maintain such other Insurance, Including but not limited to hazard, business Interruption and boiler Insurance as lender may require. Policies shall be written by such Insurance companies and In such form as may be reasonably acceptable to lender. Grentor shall deliver to lender certificates of coveraga from each Insurer containing a stipulation that coverage will not be cancelled or diminished without a minimum of ten (10) days' prior written nollce to lender and not containing any disclaimer of the Insurer's liability for failure to glva such notice. Each Insurance policy also shall Include an endorsement providing that coverage In favor of lender will not be Impaired In any way by any act, omission or defeult of Grantor or eny other person. Should the Real Property be located In an erea deslgneted by the Director of the Federal Emergency Management Agency as a special fiood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance. If available. within 45 days after notice Is given by lender that the Property Is located In a special fiood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property sacuring the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by lender, and to maintain such Insurance for the term of the loan. Application of Procseds, Grantor shall promptly notify lender of any loss or damage to tha Property. lender may make proof of loss If Grantor falls to do so within fifteen (15) days of tha casualty. Whather or not lender's security Is Impaired, lender may, at lender's election, receive and retain the proceeds of any Insuranca and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of the Property. If lender elects to apply the proceeds to restoration and repair, Grentor shall repair or replace the damaged or destroyed Improvements In a manner satisfactory to lender. lender shall, upon satisfactory proof of such expenditure, payor reimburse Grantor from the proceeds for the reesonable cost of repair or restoration If Grantor Is not In default under this Mortgage. Any proceeds which have not been disbursed within 180 deys after their receipt and which lender has not committed to the repair or restoration of the Property shall be usad first to pay any amount owing to lender under this Mortgage, then to pay accrued Interest, and the remainder, If any, shall be applied to the prtnclpal balance of the Indebtedness. If lender holds any procaeds after payment In full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's Interests may appear. TAX AND INSURANCE RESERVES, Subject to any limitations set by applicable law, lender may require Grantor to maintain with lender reserves for payment of annual taxes, assessments, and Insurance premiums, which reserves shall be created by advance payment or monlhly payments of a sum estimated by lender to be sufficient to produce. amounts at least equal to the taxes, assessments, and Insurance pramlums to be paid. The reserve funds shall be held by lender as a general deposit from Granlor, which lender may satisfy by payment of the taxes, assessments, and Insurence premiums required to be paid by Grantor as they become due. lender shall have the right to draw upon the reserve funds to pay such Items, and lender shall not be required to determine the validity or accuracy of any Item before paying II.· Nothing In the Mortgage shall be construed es requlrtng lender to advance other monies for such purposes, and lender shall nollncur any liability for anything It may do or omit to do with respect to the reserve accounl. Subject to any limitations set by applicable law, If the reserve funds disclose e shortage or deficiency, Grentor shall pey such shortage or deficiency as required by lender. All amounts in the reserve account are hereby pledged to further secure the Indebtedness, and lender Is hereby authorized to withdraw and apply such amounts on the Indebtedness upon the occurrence of an Event of Default. lender shall not be required to pay any Interest or eamlngs on tha reserve funds unless required by law or agreed to by lender In writing. lender does not hold the reserve funds In trust for Grantor, and lender Is not Grantor's agent for payment of the taxas and assessments required to be paid by Grantor. lENDER'S EXPENDITURES, If any aellon or proceeding Is commenced that would materially affect lender's Interest In the Property or If Grantor falls to comply with any provision of this Mortgage or any Related Documents, Including but not limited to Grentor's failure to discharge or pay when duB any amounts Grentor Is required to discharge or pey under this Mortgage or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any aellon that Lender deems appropriate, Including but not limited to discharging or paying all taxes, liens, security Interests, encumbrances and other claims, at any time levied or pieced on the Property and paying all costs for Insuring, maintaining and preserving the Property. All such expenditures Incurred or paid by Lender for such purposes will then bear Interest at the rate charged under the Note from the date Incurred or paid by Lender to the date of repeyment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any Installment payments to become due during either (1) the term of any applicable Insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Mortgage also will secure peyment of these amounts. Such right shall be in addKion to all other rights and remedies to which Lender may be antltled upon Default. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Mortgage: Title. Grantor warrants that: (a) Grantor holds good and marketable title of record to the Property In fee simple, free and clear of all liens and encumbrances other than those set forth In the Real Property description or In any title Insurance policy. title report, or final title opinion Issued In favor of. and accepted by, lender In connection with this Mortgage. and (b) Grantor has the full right, power, and authority to execute and deliver this Mortgage to lender. Defenee of Title. Subject to the exception In the paragraph above. Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding Is commenced that questions Grantor's title or the Interest of lender under this Mortgage, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party In such proceeding. but lender shall be entitled to participate In the proceeding and to be represented In the proceeding by counsel of lender's own choice, and Grantor will deliver, or cause to be delivered, to lender such Instruments as lender may request from time to time to permit such participation. Compllanca With laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities. Survival of Rapresantatlona and Warranties, All representations, warranties, and agreements made by Grantor In this Mortgage shall survive the execution and delivery of this Mortgage, shall be continuing In nature. and shall remain in full force and effect until such time as Grantor's Indebtedness shall be paid In full. CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Mortgage: OS2S332 MORTGAGE (Continued) Page 000396 Proceedings, If any proceeding In condermatlon Is filed, Grantor shall promptly notify Lender In writing, and Grantor shan promptly take such steps as may be necessary to defend the action and obtain the award. Grentor may be the nominal party In such prooeedlng, but Lender shall be entitled to participate In the proceeding and to be reprasented In the proceeding by counsel of Its own choice, and Grantor will deliver or cause to be delivered to Lender such Instruments and documentation as may be requested by Lender from lime to time to permit such participation, Application of Net Proceeds, If all or any part of the property Is condermed by eminent domain proceedings or by any proceeding or purchase In lieu of condemnation, Lender may at Its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the property. 1he net proceeds of tha award shall mean the award after payment of all reasonable costs, expenses, and allorneys' fees Incurred by Lender In connection with the condemnation, I IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges are a part of this Mortgage: CUlTent Taxes, Fees snd Chsrges, Upon request by Lender, Grantor shall execute such documents In addition 10 this Mortgage and taka whatever other action Is requested by Lender to perfect and continue Lende~s lien on Ihe Real Property. Grantor shall reimburse Lender for all taxes, as described below, togelher with all expenses Incurred In recording, perfecting or continuing Ihls Mortgege, Including without limitation all taxas, fees, documentary stamps, and other charges for recording or registering this Mortgege. Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Mortgsge or upon all or any part of the Indebtedness secured by this Mortgage; (2) a specific tax on Grantor which Grantor is authorized or required to deduct from payments on the Indebtedness secured by this Iype of Mortgage; (3) s tax on this type of Mortgage chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and Interest made by Grentor. Subsequent Taxes. If any tax to which this section applies Is enacted subsequent to the date of this Mortgage. this event shall have·the same effect as an Event of Default, and Lender may exercise any or all of Its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before It becomes delinquent. or (2) contests the tax as provided above In the Taxes and Uens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS, The following provisions relating to this Mortgage as a security egreement are a part of this Mortgage: Security Agreement. This Instrument shall constitute a Security Agraement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a securad party under the Uniform Commercial Coda as amended from time to time. Securtty Interest, Upon request by Lender, Grantor shall take whatever action Ie requested by Lender to perfect and continue Lender's security Interest In the Rents and Personal Property. In addition to recording this Morlgage In the real property records, Lender may. at any time and without further authorization from Grentor, file executed counterperts. copies or reproductions of this Mortgage as a financing statement. Grantor shall reimburse Lender for all expenses Incurred In perlectlng or continuing this security Interest. Upon default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any Personal Properly not affixed to the Property In a manner and at a place reasonably convenient to Grantor and Lender and make It available to lender within three (3) days after receipt of written demand from Lender 10 the extent parmltled by applicable law. Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which Information concerning the security Interest granted by this Mortgage may be obtained (each as required by the Uniform Commercial Code) are as stated on the firsl page of this Mortgage. FURTHER ASSURANCES; ATTORNEY-IN-FACT, The following provisions relating to further assurances and atlorney-In-fact are a part of this Mortgage: Further Assurances, At any time. and from time to time. upon request of Lender, Grantor will make, exearte and deliver, or will cause to be rœde, exearted or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and In such offices and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, Instruments of further essurance, certificates, and other documents as may, In the soie opinion of Lender, be neœssery or desirable In order to effectuate, complete, perfect, continue, or praseIV8 (1) Granto~s obligations under the NoIe, this Mortgage, and the Related Documents, and (2) the liens and security Interests created by this Mortgage as first and prior liens on the Property, whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the contrary In writing, Grantor shall relrrburse Lender for all costs and expenses Incurred In connection with the matters referred to In this peragraph. Attorney-In-Fact. If Grantor falls to do any of the things referred to In tha preceding paragraph. Lender may do so for and In the name of Grantor and at Granto~s expense. For such purposes, Grantor hareby Irrevocably appoints Lender as Granto~s attorney-In-fact for the purpose of making, executing, delivering. filing, recording, and doing all other things as may be necessary or desirable. In Lende~s soie opinion, to accomplish the matters referred to In the preceding paragraph. FULL PERFORMANCE, If Grantor pays all the Indebtedness, Including without limitation all future advances, when due, and otherwise performs all the obligations Imposed upon Grantor under this Mortgage. Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and sullable statements of termination of any financing statement on file evidencing Lender's security Interest In the Rents and the Personal Property. Grantor will pay, If permitted by applicable law. any reasonable termination fee as determined by Lender from lime to time. EVENTS OF DEFAULT, Each of ths following. at Landar's option, shall constitute sn Evant of Defsull undar this Mortgage: Payment Default. Grantor falls to make any paymant when due under the Indebtedness. Default on Other Payment., Failure of Grantor within the time required by this Mortgage to mske sny payment for taxes or Insurance, or sny other payment necessary 10 prevent filing of or 10 effect discharge of any lien. Other Defaults. Grantor fails to comply with or to parform any other term, obligation. covenant or condition contained In Ihls Mortgage or In any of Ihe Related Documents or to comply with or to perform any term, obligation. covenant or condition contained In any other agreement between Lender and Grantor. False Statements. Any warranty. representation or statement made or furnished to Lender by Grantor or on Granto~s behalf undar this Mortgage or the Related Documents Is false or misleading In any material respect, either now or at the time mede or furnished or becomes false or mlsleedlng at any time thereafter. Defective Collateraltzatlon, This Mortgage or any of the Related Documents ceases to be In full force and effact (including failure of any collateral document to craate a valid and perfected security Interest or lien) at any time snd for any reason. Death or Insolvency. The death of Grsntor, the Insolvency of Grantor. the appointment of e receiver for any part of Granlor's property, any assignment 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 Grantor. Creditor or Forfeiture Proceedings, Commencement of foreclosura or forfeiture proceadlngs, whather by Judicial proceeding, self-help, repossession or eny other method, by any creditor of Grantor or by any governmental agency against any property securing the Indebtedness. This Includes a garnishment of any of Granto~s accounts. Including deposit sccounts. with Lender. Howevar, Ihls Event of Default shall not apply If thera Is a good faith dispute by Grantor as to the validity or reasonableness of the claim which Is the basis of the creditor or forfeiture proceeding and If Grantor gives Lendar written notice of the creditor or forfeltura proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding. In an amount determined by Lender, In Its sole discretion, as being an adequate reserve or bond for the disputa. Breach of Other Agreement, Any breach by Grantor under the terms of any other agreement between Grantor and Lender that Is not remedied within any grace period provided therein, Including without limitation any agreement concerning any Indebtedness or other obligation of Grantor to Lender, whether existing now or later. Events Affecting Guarantor, Any of the preceding events occurs with respact to any guarantor. endorser. surety. or accommodation party of any of the Indebtedness or any guarantor. endorser, surety. or accommodation party dies or becomes Incompetent, or ravokea or disputes the validity of, or liability under, any Guaranty of the Indebtedness. in the event of a death. Lender, at its option, may, but shall not be required to, permit the guaranto~s estate to assume unconditionally the obligations arising under the guaranty In a manner satisfactory to Lender. and, In doing so, cure any Event of Default. 032tiS:...- . i MORTGAGE (¡ContinUed) Adv..... Ch.ng., A material edverse change occurs In 6ranto~s financial condition, or Lender believes the prospect 01 payment or performance of the Indebtedness Is Impaired. In..curlty. Lender In good faith belleva. It.ellln.ecure. RIght to Cur., If any default, other than a default In payment Is curable and II Grantor has not been given a notice 01 a breach of the seme provision 01 this Morlgage within tha preceding twelve (12) months, It may be cured II Grantor, after receiving written notice from Lender demanding cure of such default: (1) cures the default within fifteen (15) days; or (2) lithe cure requires more than fifteen (15) deys, Immediately Initiates steps which Lender deems In Lende~s sole dlacretlon to be sufficient to cure tha delault and !hereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practice I. RIGHTS AND REMEDIES ON DEFAULT, Upon the occurrence of an Event 01 Delault and at any time thereafter, Lender, at Lende~. option. may exercl.e anyone or more olthe following right. and remedies, In addition to eny other rights or remedle. provided by law: Acc.l.rat. Ind.bt.dn..., Lender shall have the right at Its opllon without notice to Grantor to declare the entire Indebtedne.. Immediately due and payable, Including any prepayment penalty which Grantor would be required to pay. UCC R.m.dl.., With respect to all or any part 01 the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Code. ColI.ct R.nt.. Lender shall have the right, without nollce to Grantor. to take possession of the Property, Including during the pendency of foreclosure, whether judicial or non-Judicial, and collect the Rents, Including amounts past due and unpaid, and apply the net proceed., over end above Lender'. co.ts, against the Indebtednass. In furtherance of this right, Lender may require any tenant or other u.er 01 the Property to make payments 01 rent or use lees directly to Lender. lithe Rents are collected by Lender, then Grantor Irrevocably designates Lender as Grantor's allorney-In-Iactto endorse Instruments received In payment thereof In the name 01 Grantor and to negotiate the same and collect tha procaeds. Payments by tenant. or other u.er. to Lender In re.pon.e to Lender'. demand shall satl.fy the obllgallons lor which the payment. are made, whether or not any proper ground. for the demand exl.ted, Lender may exercl.e it. right. under thl. .ubperagraph either In per.on, by agent. or through a racelver. Appoint Recelv.r, Lender shall have the right to have a receiver appointed to t.ke po..es.lon 01 all or any part of the Property, with the power to protect and pre.erve the Property, to operate the Property preceding loreclo.ure or .ale. and to collect the Rent. from the Property and apply the proceed., over and above the co.t 01 the receivership. agaln.tthe Indebtedne.s. The receiver may serve without bond If permllled by law. Lender'. right to the appointment 01 a receiver .hall exl.t whether or not the apparent value of the Property exceed. the Indebtedne.. by a .ub.tanllal amount. Employment by Lender .hall not dl.quallfy a person Irom .ervlng a. a receiver. Judlcl.1 Foreclo.ur., Lender may obtain a Judicial decree foreclo.lng Grantor'. Intere.tln all or any part 01 the Property. Nonjudicial S.le. Lender may loreclo.e Grantor'. Interest In all or In any part 01 the Property by non-judicial sale, and .peclfically by "power ol.ale" or "advertisement and .ale" loreclo.ure a. provided by statute. D.flclency Judgm.nt, If permitted by applicable lew, Lender may obtain a judgment lor any deficiency remaining In the Indebtednass due to Lender efter application of all amounts received from the exercise of the rights provided In this section. T.nancy at Sufferanc.. If Grantor remains In possession 01 the Property after the Property Is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon delault 01 Grantor, Grantor shall become a tenant at sufferance 01 Lender or the purcheser of the Property and shall, at Lende~s option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the Property Immedlataly upon the demand of Lender. Othar R.m.dl.., Lender shall have all other right. and remedies provided In this Mortgage or the Note or available at law or In equity. Sal. of the Property. To the extent permllled by applicable law, Grantor hereby waives any and all right to have the Property marshalled. In exercising Its rights and remedies. Lender shall be free to sell all or any part of the Property together or separately, In one sale or by separate sales. Lender shall be entllled to bid at any public sale on all or any portion of the Property. Notlc. of Sal., Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the lime after which any private .ale or other Intended dlspo.ltlon of the Personal Property Is to be made. Reasonable notice shall mean notice given at least ten (10) days before the time of the sale or disposition. Any sale of the Personal Property may be made In conjuncllon with any .ale of the Real Property. Election of Remedies, Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expendlturea or to take action to perform an obligation of Grantor under thl. Mortgage, after Grantor'. failure to perform, .hall not affect Lende~. right to declare a default and exercl.e It. remedle.. Nothing under thl. Mortgage or otherwise .hall be con.trued .0 a. to limit or re.trlct the right. and remedle. available to Lender following an Event of Default. or In any way to limit or re.trlct the rights and ability of Lender to proceed directly agaln.t Grantor and/or agaln.t any other co-maker, guarantor, .urety or endorser and/or to proceed again.t any other collateral directly or Indirectly .ecurlng the Indebtedne.s. Attorn.y.' F...; Expen.e., If Lender Institutes any suit or action to enforœ any of the terms of this Mortgege, Lender shall be entitled to recover such sum as the court may adjudge reasonable as allorneys' fees at trial and upon any appeal. Whether or not any court action Is Involved, and to the extent not prohibited by lew, all reasonable expensea Lender Incurs that In Lende~s opinion are necessary et any time for the protection 01 Its Interest or the enforcement of Its rights shall become a part 01 the Indebtedness payable on demand and shall bear Interest at the Note rate Irom the date 01 the expenditure until repaid. Expenses covered by this paragraph Include, without limitation, however subject to any limits under applicable lew, Lender's reasonable ettorneys' fees and Lende~s legal expenses whether or notthare Is a lawsuit, Inctudlng reasonable allorneys' fees and expenses for bankruptcy proceedings (Including efforts to modify or vacate any automatic stay or InJunction), appeals, and any anticipated post"¡udgment collection services, the cost 01 searching records, obtaining title reports (Including foreclosure reports), surveyors' reports. and appraisal fees and tllle Insurance. to the extent permlllad by applicable law. Grantor also will pay any court costs, In addition to all other sums provided by law. NOTICES. Any notice required to be given under this Mortgage, Including without limitation any notice of default and any notice of sele shall be given In writing, and shall be effective when actually delivered, when actually received by telefacslmlle (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, II mailed, when deposited In the United States mall, as first class, certified or registered mall postage prepaid, directed to the addresses shown near the beginning of this Mortgage. All copies of notices of foreclosure Irom the holder of any lien which has priority over this Mortgage shall be sent to Lende~s address, as shown near the beginning of this Mortgage. Any party may change Its address for notices under this Mortgage by giving formal written notice to the other parties, specifying that the purpose of the notice Is to change the party's address. For notice purpo.es, Grantor agrees to keep Lender Informed at all times of Granto~s current address. Unless otherwise provided or required by law, If there Is more than one Grantor, any notice given by Lender to any Grantor Is deemed to be notice glvan to all Grantors. MISCELLANEOUS PROVISIONS. The lollowlng miscellaneous provl.lons are a part of this Mortgage: Am.ndments, This Mortgage. together with any Related Document.. constitutes the entire understanding and agreement of the parties as to the mailers set forth In this Mortgage. No alteration of or amendment to this Mortgage shall be effective unless given In writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Annual Report., "the Property Is used for purposes other than Granto~s residence, Grantor shall lurnlsh to Lender, upon request. a certified statement 01 net operating Income received from the Property during Granto~s previous fiscal year In such lorm and detail as Lender shall require. "Net operating Income" shall mean all cash receipts Irom the Property less all cash expenditures mede In connection with the operation 01 the Property. C.ptlon Headings, Caption headings In this Mortgage are for convenience purpo.e. only and are not to be used to Interpret or define the provisions of this Mortgage. Gov.rnlng Law, Thl. Mortgag. will b. gov.rn.d by federal law applicable to Lend.r and, to the .xtent not pr..mpt.d by fed.ral law, the laws of tha State of Wyoming without reg.rd to Its conflicts of law provl.lons, This Mortgage ha. b.en accept.d by Lend.r In the State of Wyoming, Joint and S.v.ral LI.blllty, All obligations 01 Grantor under this Mortgage shall be joint and several, and all relerences to Grantor shall mean each and every Grantor. This means that eech Grantor signing balow Is responslbla lor all obllgallons In thl. Mortgage. No Walv.r by L.nder, Lender shall not be deemed to have waived any right. under this Mortgage unless such waiver I. given In writing and .Igned by Lender. No delay or omission on the part 01 Lender in exercl.lng any right shall operate a. a waiver of .uch right or any Page 4 000391 0228932 MORTGAGE (Continued) Page 05 00398 other right. A welver by lender of a provision of this Mortgage shall not prejudice or constitute a waiver of lender's right otherwise to demand strict compliance with thet provision or any other provision of this Mortgage. No prior waiver by lander, nor any course of dealing between lender and Grantor, shall canstltute a waiver of any of lender's rights ar of any af Grantor's obligations as to any futura trensactions. Whanever the consent of lender Is required under this Mortgage, the granting of such consent by lender in any Instance shall not constitute continuing consent to subsequent Instances where such consent Is required and In all cases such consent may be granted or withheld In the sole discretion of lender. S.ver.blllty, If a court of competent jurisdiction finds any provtslon of this Mortgage to be Illegal, Invalid, or unenforceable as to any person or circumstance. that finding shall not make the offending provtslon Illegal, Invalid, or unenforœable as to any other person or circumstance. If feasible, the offending provision shall be considered modified so that It becomes legal, valid and enforœable, If the offandlng provision cannot be so modified. It shall be considered deleted from this Mortgage. Unless otherwise required by law, the illegality, Invalidity, or unenforceabllity of any provision of this Mortgage shell not affect the legality, validity or enforceability of any other provision of this Mortgage. M.rger, Thera shall be no merger of tha Interest or estate created by this Mortgage with any other Intares! or estate In the Property at any time held by or for the benefit of lender In any capacity, wlthoul the written consent of lender. Succsssors snd Assigns, Subject to any limitations stated In this Mortgage on transfer of Grantor's Interest, this Mortgage shall be binding upon and Inure to the benefit of tha parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor. lender, without notice to Grantor, may deal with Grantor's successors with referenca to this Mortgage and Ihe Indebtedness by way of forbearanca or extension without releasing Grantor from the obligations of this Mortgage or liability under the Indebtedness. Time Is of the Essence. Time Is of the essence in the peñormance of this Mortgage. Wslvsr of Homestesd Exemption, Grantor hereby releases and waives all rights and benefits of tha hamestaad exempUon laws of the State of Wyoming as to all Indebtedness secured by this Mortgaga. DEFINITIONS, Tha following capitalized words and terms shall hsve the following meanings when usad In this Mortgage. Unless specifically stated to the contrary, sll references to dollar amounts shall mean amounts In lawful money of the United States of Amerlce. Words and terms used In the singular shall Include the plural, and the plural shall Include the singular, as the context may require. Words and terms not otherwise defined In Ihls Mortgage shall have the meanings attributed to such terms In the Uniform Commercial Code: Borrower. The word "Borrower" means RANDY MANNIKKO and lONDA K LAMPER and Includes all co-signers and co-makers signing the Note and all their successors and assigns. Defsult. The word "Default" meens the Default set forth In this Mortgage In the section titled "Default". Environmental laws, The words "Environmental laws' mean any and ell state, federal and local statutes, regulations end ordlnences relating to the protection of human health or the environment, Including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980. as amended, 42 U.S.C. Section 9601, et seq. ("CERClA"), the Supeñund Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ('SARA'), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws. rules, or regulations adopted pursuant thereto. Event of Default. The words "Event of Default" mean sny of the events of default set forth In this Mortgage In the events of default section of this Mortgage. Grantor. The word "Grantor" means RANDY MANNIKKO and lONDA K LAMPER. Guaranty, The word "Guaranty" mean. the guaranty from guarantor, endorser, surety, or accommodation party to lender, Including without limitation a guaranty of all or part of Ihe Note. Hazardou. Sub.tences, The words "Hazardou. Sub.tances" mean material. that, becau.e of their quantity. concentration or physical, chemical or Infectiou. characterl.tlcs, may cau.e or pose a pre.ent or potential hazard 10 human health or the environment when Improperly used, treated. stored, dlspo.ed of, generated. menufactured, tran.ported or olherwlse handled. The words "Hazardou. Sub.tance." are used In their very broade.t .ense and Includa without limitation any and all hazardous or toxic .ubstances, material. or wa.te a. defined by or listed under the Environmental law.. The term 'Hazardous Substancas' also Includes, without limitation, petroleum and pelroleum by· product. or any fraction thereof and a.besto.. Improvements, The word "Improvement." means all exl.tlng and future Improvement., buildings, structure.. mobile home. affixed on the Real Property, facilities, addlllon.. replacement. and other con.tructlon on the Real Property. Indebtedn..., The word 'Indebtednes." means all principal. Intere.t, and other amount., co.ts and expenses payable under the Note or Relaled Document.. together with all renewals of, extension. of. modifications of, consolidation. of and .ub.tltullons for the Note or Related Documents and any amounts expended or advanced by lander to discharge Grantor's obligation. or expan.es Incurred by lendar to enforce Grantor'. obligation. under this Mortgage, together with Inlere.t on such amounts as provldad In this Mortgage. Specifically, without IImltallon, Indebtedne.. Includes the fulure advances .et forth In the Fulure Advances provision of Ihl. Mortgage, together with all Intere.1 thereon. Lender, The word "Lender" mean. Rocky Mountain Bank, It. .ucce..or. and as.lgn.. Mortgage. The word "Mortgage' mean. thl. Mortgage between Grantor and lender. Note, The word "Nole" mean. the promls.ory nole dated April 30. 2007, in the originsl principal amount of $249,000,00 from Grantor to lender, together with all renewals of, extensions of, modifications of. refinancing. of, consolidations of, and .ub.tltutlons for the proml.sory nole or agreement. NOTICE TO GRANTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE. Parsonsl Property. The words "Personal Property" mean all equipment, fixture., and other article. of per.onal property now or hareafter owned by Grantor, and now or heraafter attached or affixed to tha Real Property; together with all acce..lon., parts, and addition. 10, all replacament. of. and all sub.tltutlons for, any of .uch proparty; and together with all proceeds (Including without limitation all in.urance proceeds and refunds of premiums) from any sale or other dlsposlllon of the Property. Property, The word "Property" maans collectively the Real Property and the Personal Prop arty. Rsal Property, Tha words "Real Property" maan the real property, Intarests and rights, as further described In this Mortgage. Related Documents, The word. "Related Documents" mean all proml.sory notas, credit agrsament., loan agreements, environmental agreemants, guaranties, .ecurlty agreements, mortgages, deeds of trust. security daeds, collateral mortgages, and all other Instruments. agreements and documents. whether now or hereafter existing, axecuted In connection with the Indebtedne.s, Rent., The word 'Rents' means all pre.ent and future rents, revenues. income. Issues, royalties, profits, and other benefits derived from the Property. EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES TO ITS TERMS. GRANTOR: ~.ž~ 032tj9-.¡~ MORTGAGE (Continued) Page 60'00399 STATE OF Uy ,......~V INDIVIDUAL ACKNOWLEDGMENT CLAYBROADHEAD-NOTARVPUBUC County of . State or Uncoln Wyoming My Commission expires Sept. 21, 2010 COUNTY OF Lr;liI øt.A.I ) ) ss ) On this day before ma, the underslgnad Notary Public, personally appeared RANDY MAN NIKKO and LONOA K LAMPER, to me known to be the Individuals desaibed In and who executed the Mortgage, and ecknowledged thet they signed the Mortgage as their free and voluntary act and deed. for the uses and purposes therein mentioned. Givan under my hand and official seal this ~O By 17 :ß 4' .I Notary Public In and for the State of f4WDJ IIof,J:'''''' day of A,/)¡tS:L. I Residing at K~....._~ II.fI.JC. My commlsllon explral 1/'2.1/ :lo.Ib .20...f22-, LAID. PRO l.MI....., V.f. 1.:14.01.0" c_.~. F........ ..IwIIon., ..... 'M1. IOU? AI III'" III....... . wY L'\LAIIiRWIMICfN.PLIOO1.FC '''41MW I . ORDER NUMBER: NTL-1299 OS2S932 A PARCEL OF LAND IN SECTION SIX (6), TOWNSHIP 26 NORlli, RANGE 112 WEST OF THE 6lli P,M" LINCOLN COUNTY WYOMING AND BEING PART OF LINCOLN COUNTY LOT NINETEEN (19) AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: EXHIBIT "A" 000400 BEGINNING AT THE NORlliWEST CORNER OF LINCOLN COUNTY LOT NINETEEN (19), SAID POINT ALSO BEING A POINT ON THE CENTERLINE OF EAST FOURlli A VENUE OF THE TOWN OF LABARGE, WYOMING AND A POINT ON THE EAST~GHT OF WAY BOUNDARY OF U,S, HIGHWAY 189, WHERE IS FOUND A RAIL ROAD SPIKE WIlli A CENTER PuNCH MARK; THENCE SOUTH 0°13'04" WEST, ALONG THE EAST BOUNDARY LINE OF U.S, HIGHWAY 189, SAID LINE ALSO BEING TIIE WESTERLY BOUNDARY LINE OF LINCOLN COUNTY LOT NINETEEN (19), A DISTANCE OF 184,92 FEET TO THE NORlliWEST CORNER OF THE ALLEMAN lliIRD ADDITION TO THE TOWN OF LABARGE, WYOMING, WHERE IS FOUND A 3" DIAMETER ALUMINUM CAP ON A 2W' ALUMINUM PIPE STAMPED CCI PE&LS 574 NW CORNER ALLEMAN 3; THENCE SOUTH 89°45'17" EAST, ALONG THE NORlli BOUNDARY LINE OF SAID ALLEMAN lliIRD ADDITION, SAID LINE ALSO BEING THE SOUTH BOUNDARY LINE OF THE SAID WILBUR L, BARRY AND GLORIA B, BARRY PARCEL RECORDED IN BOOK 92PR ON PAGE 57, A DISTANCE OF 213.00 FEET TO A POINT WHERE IS FOUND A REBAR WIlli AN ALUMINUM CAP STAMPED CCIPE&LS 574; THENCE NORlli 0°13'04" EAST, A DISTANCE OF 185.03 FEET TO A POINT ON THE NORlli BOUNDARY LINE OF LINCOLN COUNTY LOT NINETEEN (19) AND BEING A POINT ON THE CENTERLINE OF SAID EAST FOURlli AVENUE, WHERE IS FOUND A REBAR WITII AN ALUMINUM CAP STAMPED PE&LS 574; THENCE NORTH 89°47'29" WEST, ALONG SAID NORlli BOUNDARY LINE OF LINCOLN COUNTY LOT NINETEEN (19) AND THE CENTERLINE OF EAST FOURlli A VENUE, A DISTANCE OF 213,00 FEET TO THE POINT OF BEGINNING, LESS AND EXCEPT ANYTHING LYING WIlliIN THE BOUNDS OF EAST FOURlli A VENUE, LESS AND EXCEPT ANYTHING LYING WIlliIN THE BOUNDS OF BLAKE STREET. LESS AND EXCEPT ANYTHING LYING WIlliIN THE BOUNDS OF GREEN RIVER AVENUE. LESS AND EXCEPT ANYTHING LYING WIlliIN lliE BOUNDS OF AN ALLEYWAY LYING BETWEEN LOT ONE (1) lliROUGH LOT FIVE (5) AND LOT TWENTY -EIGHT (28) THROUGH LOT lliIRTY - TWO (32) OF BLOCK FIVE (5).