HomeMy WebLinkAbout932103
RECORDATION REQUESTED BY:
FIr~ Statllenll of Plnedal'
P.O, Box 819
~In'dall. WY 82'41
WHEN RECORDED MAIL TO:
PInt Statl Benk of Plnld.l.
P.O. Box 51g
Plnldalo, WV 82941
RECEIVED 8/13/2007 at 3:17 PM
RECEIVING # 932103
BOOK: 668 PAGE: 679
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
000679
SEND TAX NOTICES TO:
JIIrlt S'IIIte hnk of Plnedal,
P.O, lox 1519
~nBd..,VVV 82841
SPAC; ABOVE THIS UNUI FOR "~CORl)!R'8 USE! ONLY
CONSTRUCTION MORTGAGE
MAXIMUM LIEN. The II.n of thil Mortgage shall not exoeed It Iny one time $232,000.00.
THIS MORTGAGI! d8ted July 17. 2007, fa mad. .ruf executed betwHn Jacob Traughber Ind Amberlvn TI1Iughb,r,
Husblnd end Wlf., whose øddr... 'S P.'O. Box 176, LøB8rø.~·WY' 83123' (""rred fa below.. "Grantor") and
First Stat. B8nk of Plneda'e. whose address. P,O, Box 619, Pined_I.. WY 82941 (referred to below.. "Lender-).
GRANT OF MORTCiACiE. For v.lue¡ble coneldlrlllon. (¡rentor monveg., end oonveyc to Lond., all of Orantor', right, tItle, and interelt In Ind to
the following d..crlbld r'll property, ~ogc1hër with ell elCietlnll or aUblequently .reoted or IffixIII bulldlng8, ImprOlflmOntl and fixture.; .11
ee.lmlnu, rIghts or way, and .ppvrtenenool; all wlt.r, wltllr rights, w.tercour... Ind dltoh rights (Ino/udlnG stock In utRhl.. with ditch or
'rrlu.tlon rlahtl);. a~d all other rJllht8\, roy.ldea, Ond profIt.: ",1.tINJ to the raal prop.rty, IncludIng without limitetion ell mlnerøls, oil, g..,
·geothermal and .I.....".r ......tœre, t,ne R... Property") located In Unooln County. Stllte of Wyoltling:
Lo', 1, 2,4 .nd 8 of Block 4 of Aneman First Addition to the Town of LeB~e Unooln COunty, ~mln~ ..
dl,8S0rllbed on the official plitt flIed on Nov.mb" 19, 1989 8. Instrum.nt No. 711016 of the recorda o,uth.
noo n Couoty Clerk.
T.. he. Rell WPI'QP811Y or '18 addrel8 18 commonlv known.. Lo~ 1, 2, 4 III'Id 5 of Block 4 of Anemen First Addition ,
a IIrge, Y 83123.
Grantor presently e$elQnø tD Lender ell of Gramor', right, ttt'., Ind Intlre't In end to all pre8'~ .nd future 1.11_ of the Propeny and III A.nt.
from the Property. In addition, Grentor gr.ntB to Lender ø Uniform Co.....m.rcl.1 Codl .ecurlty '"u"',t In thll Porconll Property .nd ".nts.
THIS MORTGAG&. INCLUDING THE ASSIGNMINT OF RINTS AIIID THt 81!CURITY INTIRUr IN THE RENTS AND PERSONAL. PROPBRTY, IS
GIVEN TO SECURE (AI PAYMENT OF THE INDmIT&DN&88 AND IS' PERFORMANCI Oil ANY AND All.. OIJ.IaATIONS UNDER THE NOTE,
THE RELATED DOCUMeNTS, AND THIS MORTGAGE, THIS MORTGAGE 1& GIVEN AND ACCIPTID ON TH& FOI.LOWINQ TI"MS:
GRANTOR'S WAIVERS. Grantor wølves ell rights or detena.. arlllng bV reelon 0' eny "ono ootlon" or "sn'll-def\c::lency" I.w, or any Clther law
whIch msy prevlnt Linder from brInging any IIIgtion egeinl1: Grentor, Including ø 01.10'1 for d.flcllncV to the extem Londor II ottMIrwr.. entltl.d to
o cllllm for doflcloncv, bllforll or lifter Lender'. co.....m.ncement or completion of an.,. foreclosure action, .It/'ler Judlcl.lly or Þv .xerel.. of I
power 01..'0.
GRANTOR'S REPRESENTATIONS AND WARRANTIES. GrantOr werrent' that; III) this Mongalle Ie Ixeout:ld It Sorrower'. ,..qullt Dnd not et
thl r.que.t of Lend.r; (Þ/ Gr'"tor I1a11 thG full powllr, rleht, IInd tIIuthorlty to .nt.r into this Mongolii!!! end to !\ypothI08t8 the Propsrty: 101 the
provisions of this Mortgagl do not oonfllct with, or rAsult In I dlfeult under øny I"rllmant or other instrument binding upon Or.ntor and do not
result in a violation of anv law, regulatIon, ~ourt degree or order app/loablo to Grøntor: Idl Gr.nwr hu IIltebllsh.d Idequlte m.am of obtaining
from Borrowllr on II continuing blsis ¡nfonnltion about Borrower'. finanolal oondltlon; ønd ' Ie) !.end.r hi' mlde no rtpr...nt.~on to Grlntor
about Borrower (Inoludlng without IImltetlon the credltworthlnn. of Borrower).
PAYMENT AND PERFORMANCe. ExClpt I. otherwi,e provided in this Mortgllge, Borrower ah,lI þlY to LInder 8111ndetnednau lecurld by this
Mongag. as It beQol'fIl' due, IInd Borrower and Grlntor shell striCtly )Irform ./1 Borrower', and Grentor's obligatIon, under 1hla Mortgage.
CONSTRUCTION MORTGAGE. This Mongage is a ~oonatrlJotion mortgage" for ~he purpO..I of SectIons 9-334 ond 2A.309 of the Uniform
Commercløl Code, IS tho.. ,ectlon, have belln adoptèd bv the Stðte of Wyoming.
POSSESSION AND MAINTENANCE OF THE PROPIifITY, Borrow., Ind Grentor agree t".t Borrowor'D and Grantor's po.....lon and use of ths
Property shill be governld by ttI8 following provision,:
POllualon and U... Until the OQQurrel'loe of an Event of Oofault, Gr,ntor mlY (1) Alm81n In pO""lIlon and control of the Property: (2)
use, 0PllrI'" or manegl thll PrOpllrty; IInd (31 collect the A.nts from the ProøertY.
Duty to Maintain. Grantor shall m.intain the Property In good oondltlon and promptly perform 'II rapolra, r.placlmentl, Ind maintenenoe
neoeStlery ~o prlllllrva Irs value.
CampDanca WIth Env/ronmtlntel Llws. Grlntor repre$ents end warrante to Lender t"'t: 111 During the period of Grllntor'. own.rlhlp of
tM Property, tl18fe hI' b.-n no u.o, genlratlon, mllnuf.ctu,.., Iwrage, treltmel1t, dlepo.al. releele or tl\rellWMd rat'.II of IIny HUlrdOUII
Sub.tano. by eny pllraon on, undlll', aboU'C Dr from th. Property: 12 Grantor hsano knowledg. of, or re..on to bellavlI thlt there hll
been, except al prevloul'y dl.oJo..d to and III¡knowledgad by Linder in writing, II) .nv breaoh or Violation of eny Envlronmlntal Lew8,
(b) any use, generation, mlnuf8oture, storage, treetmlll1t, dllpoG4I, relellse or threatened ,.Ios.v of any Huardou. Subetanal on, undl',
about or from the Protlertv by anv prior ownere or OOOU )lntl of thl Property, or 10) any Ictual or thniat.nad litigation ~r clalmB of Iny
kind by any person relating to tile" matters: and (31 Exoept Sll prevIously dlaoloaod to line! .cknowledgod by Land.r in writing. (a) nelthllr
Grantor nor Iny tonant, contrøctor, .gllnt or other luthoriz.d user of the PropertY ehlll Uti, generatll, manufacture, stor., treat, dlspole of
or ""...41 any Hlzerdou, $U~8nDQ on, under, about or from th. Property; and (b) any such .otJv!ty ehlll be corKfuçttd In complllnc.
with all applicable faderlll, state, and 10oalllwl, regulations and ordlnllnces, Including without limitation .lIl!nvlronmente' L..wc. Grantor
authorize. Lander IInd its agents to enter upon the PropertY to make auoh Inepeol'Jonland teate, It Gr.ntor's ellpenae, B8 Lendar mey delm
appropria1¡ to dotlrmlnll complhmce of the Property with this eectlon of the Mol'tØla" Any )nepect!ons Dr testa ml!lde bV Lender shell be
for Lender's purp08C1Q only and shall not be construed ~o a1'e.te eny responsibility or IIlblJltv on the part of Lllndor to Grantor or to any other
øerlon. The rapresel1tetlon. .nd warrentl88 oon~lnod hllreln era b..1d on Grantor'. dua diligence In InvI.tlgatlng tÞo Prop.ny 10r
Hs~erdous Subat.nce.. Grantor heraby 111 releales end waive, IIny futUre cllllms .gllns~ 1.endlr for Indemnity or oontrlÞutlon In the
IIvent Grøntor bteam.. IIlble for ol"tII1'Iup or ot"'er cos1I unct.r snv lIuch lewI: IInd (2) Igr... to Ind.mnlfy, defend~ I~d hold harmllaa
Lender agalost eny end 1111 ol.lms, 101&81, lI.bllltl.., damlllge~, penlltiee, snd .lIpel1M' which Lender mlly dIrectly or Indll'lct'y s~t.'n cr
luffer rllsultlng from ø breaoh of this eeçtlon of the Mortgage or I. . cOMløquenca of any UII, lIeneretlon, manufacture, ltor.ge, dusPol!lel,
rclease or threatened ralllne ooourrlng prior to Grantor'. ownership or Int.mt In the Proøerty, whether or not the .am. w.. or Ihould
hIve been known to Grllntor. Th" prOvisions of thle leotIon of tha Mortgige, ¡"oludlng the obligation to Indemnify snd defend, shill lurvl~e
the plyment of '!he Ind.~.dn.n and thc allti4flctlon ønd raconvWlnoo of the lien of thlc Mortgage and sh.1I not be affeoted by LInder 8
eQqul.ltlon of any Interelt In tho Property, wheth.r by fOflclo,ure Of otherwIse.
Nulllnoe, W88te. Granl;Or chall not ceus., conduct or permit any nuls8noe nor oommlt, permit, or ,uffar IIny atrlpping of or Wllte 01"1 o~ t~
the Property or any po"'on of thl Propeny. WIthout limiting the g.nerality of the fo~øol"~, G,.ntor will not remOVI, or grant :~~~y. otri:,
party the right to remove, any tlmblr, mlner81s IInOludlng 011 ami 91SI, co.I, clay, soona, eod, travel or rook produo~ without L p
wfln.n çc:l""nt.
RemCIV.' of Improvements. Grentor .:hllll not demoll.h or remove tiny Improvemenw from the Ree' Property wlttlOut L.nd.r~. ~~'re~J~~~
consent. As 8 oondltlon to the remov¡al of Iny Improvem.nts, Lender m.y requIre Gr.ntor to make ArrAngementl 1.I,faotO Y
repllc, .uch Improvemcflts with Improvemllntl of at feaet oqu~1 value. .
Lender', RI.ht to ~blr, Lender end Lander', Igonw ønd roprO Qnta1/ve ml~ IIntlr Ù I)¡ on th8IRh88L~r:env II~ a~o~::~:b~ ~~:~~~~:~~
tCl I.endor" Intorestl and to Inspect the Rail Property for purposet of Grantor scamp 'ncI w t ".. rml
-~-
.....---...-.- -
MORTGAGE
(Continued)
Loan No: 110010513
Q.00680 '119. 2
Complielnal with OOWmln.nt81 Reqllirements Gra to h II
In effect, of all governmental autharlttle 'Ppll~.bll ~o ~h' ~ promptly oomplv with .11 I. WI, ordinance., and regulltlUl'l', now or hllr..fter
law, ordln8ncl. or regulation and Withhold I I. or occupancy of th., Property. Orantor mey contest In good f,lth .ny auch
Lander In writing prior to doing 80 end 80 :~p~:I1I~e ~e~~~~,:ny rr~o~II~'ngL':u~'ng Ippropri«te IPp..la, 10 long II Grlntor hal!! nodfl.d
mGY reqvire Or«ntor to )Ol:!t adeQuate aecuritv or ~ sure tv bond ·~e~.oPn I1bo'Vn, tl, f,ortl '"ttCIrIlLlts In the Propelt'( .... not Jloplrdlzed. Lender
Þ ft' , '"'' I SI. oorv 0 .nder, to prottet Lender'e Intqrolt.
~y 10 ,-JOtI01. Grentor Igrela nelth.r to abandon or I. P
ects set forth above In thl. seotlon. whkih from the Oh.r.::e8r ~~~nende~ tthh e P roperw· Grlntor .hllU do all other acta. In Iddltlon to tho.e
Property. USI 0 I roperty 8re r'8sot'llbly ",c.uary to proteot and pr"ervl the
CONSTRUOTION LOAN, If eome or all of tI1 d f h
conltruction of Iny 1m rovem e procee sot I lo,n creatIng th. Ind'btedne.. .re to b, Ullld to construct or compllte
nrfllr d'~e .. Landar ~.y r..~~I~I~~ ~~:~f:~r~~dt~r~~::"ov~~le"tS ~he~l~e J~omPletlndd no IBter than the meturlW date of the Note lor luch
~18bur8e loen prOoeeds under euoh tGlrme ~nd c dI s a pey In a coeta a I)lplnse. In oon",01l0n with the work, Lend,r will
Mortgage shall have prIority over all POsslbl. IIln~n In~~~:J:g' ~~~~e~fr::tedelelm r,,:onlbIYðMC'kmllerv to insvre that the ,intarelt create~ by thll
''''et dlsbureement raquest be . r a .I.IPP er. an wor In. Lander may require, amonll other thlngll,
documlnt.tlon .1 Lendlr ~'Y r:~~:~~~ ~~~:::'Ipt'd bille, I)lpense affJdlvlts, wl/vers of lien., conctructlon progre.s rlpom. end such otller
DUE ON SALE . CONSENT BY LEND&R L d '
Mort II .' en Ir mev, at I.end,r I option, dlollre Immediately due 11')(/ pey;bll all sums secur.d by this
Pro : 91:1 ~n the nJe or tr,:'nllflllr, WIthout Lender'. prIor wrItten const,". of .11 or Iny pan 01 thl Aeal ProPlrty, or any Intllt8lt In the Ae.1
or ~q~~ble: ::~:t~e~=~~.~e:~~n~~~:~:Y~:t~~~~al P~ftyh or,anYdnOdht. .title 101 r interest in the Ree' Property; wheth.r Ilgl'. bem'flo,.1
leesehold Inte st / h ' Y 0 g t sa II. "II, mete ment ..Ie contrlct. land IIOl1treot, contract for dee~,
or 10 «ny land"tru: ~OI:I.:r~,~r::~~.~~~lt~~Q 13!, Ylar~. IUle-optlon oontr«ct, or by ,.," 1..lvnm,nt. or transfCIr of anv benefioial Interelt In
optIon .shall not be exerolsed bv L d If h per.", or y anv other method of oonvevenOI at an Intllrolt In the Re«1 Property. However, this
en er IUD e:llsro S8 II prohibited by federa' IlIw or bv Wyoming IQw.
TAXIS AND LIINS. The following prevlllone re'a1lng to the ta (eG and lIans an the Propelt'( are p«" 01thl. Mart"'al:
p~vm.n,. ~r.ntor eh"II P;V whDn dUIiI (and In all event. prior to dlllnqutncy .11 t.XIS. payroll texes. speoiel tllx8e, all....mente, wa~r
o erge. an aewer servloe c"argtt lev ad agalnlt or on account of the Propeny, enct 8h,1I pay whan dUI III claims fer work doni on or for
:~~'C'S rend~r'd or material f~rnlshed to the Property. Grlntor shell mllnt81n the Properw 1r" of any Ilene h.vl~ priority over or aqUII to
~ ntlrest 0 Lllnder under Ih.. Mortglge. exoept for those liens speoifioally agreld to In wrIting by Lender, end except for the lien of texes
In IIQs.semente not due ac fun"'.r specIfied In the Right to Cc¡nto.t p.r."raph.
AI~ht to Canw.t. Gr.ntor mlY wIthhold payment of any lax. asseeement, or ollim In connection wit" , good filth dispute over the
ob /ge"on to pey, 10 long.. Lender'. Intarest In the Property is not ieop'rdi~d. If a lien arises or Is flied u . r.lult of nonply",e.,t
Grlntor ,h,1I within flft..n t 1 IS) d;ys altor thG lien ar"eI or, If a lien II IlIld, within tlfte,n (15) days after Gr,ntor hea notice of the filing:
IItCvr. tht dltOh,rge ot the IIQn. or It requested by Lender, deposIt with Lendllr ell.h or a lufflcl"nt corporete IIUl'\llty bond or other secvritv
SlItlstlotOry to L"nder In .n amount .uff/ofent to discharge the lIel'l plue eny ooate and rauonable attomeys' tee., or other chlllrves thet
oould aoorue as II result of a foreolo,ure or.8ale under the lien. In any oontØ8t, Gr.ntor shell defend Itself InQ ",nder IInd Ihall satisfy Iny
advllrslI Judgment b8for. enforcement aga,l' st the Property. Grlntor shall nama Lender.. In Iddltlonal obligee under ,ny surllty bond
fumlehed In the oonte't procllodlngs.
ivldllnco of Paymam. C3r«ntor Ihell upon d.mlnd furnish to Lender satisfaotory evidena8 of p8yment of the tax.. or .,"lment9 end IIh;1I
author/zlI t"'o Ðpproprlete governmentel offlohill to dllllvlr to Lllndlr at IIny time «I written etltemlnt of the taxes end ....lIIment. against
the Property.
Notloll of COnAf,rUctlon. Grantor chall notify Lender at I...t flft..n 1151 diva before any work. ie commenoed, IIny servllllf .... furnished. or
Iny material, .... ,upplled to thll Property, If any rneohsnlo', lion, mlltllrlelmon'. lien, or other 1111'1 could be asserted on eooount of the
work. lIerv/eel, or metlrlal.. Grontor will upon requIst of Landllr furnish to LAnd"r adlllnr;e ",urlnel. utlsfactory to L.end!!r th.t Grantor
oen end will PlY the cost of euch Improvements.
PROPIPlTY DAMAGE INSURANCE. The following provlclons rlllatlng to Insuring the Property sr. I pan of this Mortgage;
MalntGlUlnco of Inlurano.. Grantor shall procure and maIntain pelle!l. of fine insurlnce with standard Bxtended coverøge endorsements on
II replaoement ba,la for the full Insurable value covering all Improvementa on thll Rllal Property in 111'1 amount lufficlem to avoId .ppllcltlon
of IIny coInsurance clauH. and wlt/\« etlnd,rd mortgegee claUle 'n favor of I..endsr. Pol/cllls shall be written by luch INuranoe oomø,niea
and In .uch form as may be reasonably aooepteble to Lender. Grsntor shell deliver to L.nd.r clnlflc.tes of oover.ga from aaeh Insur.r
C0l1t81nln9 e a~lpvletlon th.t coverage will nDt be lH!I"oelled or diminished without" minImum of ten (101 days' prior written notloa to Lender
and not cOl'lta1nll1g any dleQlalmlr of tho Ineu",r's liability for fellura to "lvlI luch nodo.,. Each insuren08 policy alao ,h.lI Inolude an
endorsement providing that ogvBrag. In favor of L.ender will not be ImpelrDd In any way by «ny 'Qt, omiMion or default 01 Gr.ntor or any
other person, Should the Reel Proøertv b, locat.d In an aria <In/gnated bv the Dlrootor of the Federal Emerg.ncy MlnGgement Aoenoy 88
a ap.elal flood hllzard area, Grentor IIgreell to obtain and malntlln Fe~erel Flood In.urlne.. If evalfable, within 415 d;yc after notlc. II given
by Lendar that thll Propllrty il locllted in e specie I flood hazlrd Irea. for the tuM unþald principII bl'ln08 of the 10llln Ind any prior lI.n. on
the prope~y IQourlng thllloan, up to the maximum policy limits .It under the Netionel Flood Insurance Progrlm, or a. otherwise reQuired by
Lender, and to melntaln .uoh Ineurance for the term of th. loan.
ApplicatIon of Proceedt. Grantor ,hall promptly notify Lander of any loss or damllge to the ProPlrty. Lender mlY make proof of lo's If
Grantor fell. to do so wIthin flftesn (115) daver of the ealualty. Whlth.r or not Lender'l:! seourity is impaired, Lelld.r m.v. It Lender',
eleotion, reoeive end retoin the prooeeds of Iny Inlursnce and apply the proclldc to the reduction of the Indebtedness. Pllyment of any lien
affecting 1he Propany. or the restorallon and repelr of the Property, 11 L.ender electa to apply the pro4:lId. to rastoratlon and I'$pelr. Grantor
shall repaIr or replaca tha damaged or destroyed Ir'r\provements '1'1 a manner "tlaflotory to Lender, L.endDr ohall, upon Iltlsf.ctory proof of
such expenditure, payor relmbureg Gnsntor from the proCllds fur the teasondble cost of repair or re"wr.tlol"I 11 Grantor 't nOt In dofault
under thle Mortgllle. Any prooead¡; which have not been dllburslld within 180 deye Ifter their reoalpt Ind which Lender hac not
oommitted to the repair or restoradon of tha Property shall be vsed flret to pay any Imount owing to Lender under this Monll.g., th.n to
pey .ceru.d Inti rest, and the remelnd!r, if any, 8hall be applied to the principal belanoe of the Indabtedness. If Lll"lder holds IInv procI'de
efter p.ym.nt In full of the Indebtedn.... suOh proceeds ehlll be p,ld to Grantor a. Or..,tor'l Intorostl may IpPllr.
LEi'IIDER'S EXPENDITURES. If Grantor 1alls (AI to keep the Property free of ell t;XIII, lIenl, .ecurlty Int....ltl. enoumbranoel, Ind other 01,Im8.
(B) to provide any required lneur.nc. on thl Property. or ICI to make ropalra to the Propeny then Lender may do so. If any action or
prooeedlng Ie commenced that would met,Mllly affect Lender', interests in the PropertY, thin Lender on Grantor'c behalf m.y, but II not
required to, teke any .c1l0n that Lender bellevetl to bQ appropriatll to protect L.nder'a Ihtere$t$. All expenses Inourr.d or paId by ~ndlr for
such purposes will tl1en bear inter8st 4t the rllte oh.rged under the Note from the dltø Incurred or paid bV Lender to th$ dlte of repayment by
Grantor. All .uoh expenSea will become a pen of thl Ind.btsdness Incl. at l.endor'e option, will IAI be payable On d.mend; (81 b. Idded to
the balance of the Note and bl epportloned am0l19 IInd be :lIvable with anv Inet.llm.nt payments to become due during ,Ithllr m the wm of
Iny applicable Insurance pOlicy; or (2) thll remaining tlrm of the Note: or (C, b. trtstld as a b,lIoon payment which will be dv!! IInd peyable
It th. Note'Q maturity. The Mortglge Ileo will SKur. p.ymlnt of thlse amOunt8. The rights provided for In thll pa,agrsph shall be In addition
to any other rlghte or a"y remedl.. to whloh l.em;ler mllY bll Gntltled on ICcount of IIny de1C1vlt. Any such «otlon by Lender $h,1I not be
con.trued lie curing the default so III to bar L1!nder 1t'om .ny rDmedy that It otherwlsl would have h.d.
WARRANTY; DiFiN$E OF TITLE. ThQ following provision. relating to owner$hip of the Property Ir. . Plrt of this Mortgage:
T/119. Grantor warrants that: (a) Grantor hold. good and marketable title of reoord to thl PropertY In filII simple, t.... Ind cleGr .of all ,lienl
and encumbrøncell other thin those let forth In the Relll Property deecriptlon or in any title ineurance polloy, tltlll report, or final tItle opinion
Issuld in favor of, Ind accepted by, Lender in conneotlon with this Mortgege, end Ibl Grantor hIe tha fun right, power, ,nd authority to
~XIjIQUtg IIInd deliver ttlla Mortg.ge to Lender.
D.r.nse of Title Subject to the e¡r¡oeøtion In the paragraph ,bovs, Grantor warr:antc snd will forlver defend the title to the Property 89:st
the IlIwful ol, lm~ 011111 perllonll. In the even' env Gotion or'proceldlng II oommenoed that QU8betl0hns Brar.rtor" ti~' rr 1he ~n~-:::.~~~e b~
undllr this Mortgage, Grlln~Qr shall defend the action lit Gr.n~ot'. Q)lpenet. Grlln~or may I t I nomine øer V n .UtC n choloe' and
L.nder shall be entltlDd to participate In th. proceeding Clnd to be represented In t"'. proQled1ng by CO~"1 trf Le~d~~~eO; permlt'luch
Grlntor will deliver, or OIUIO to be dellvllr8d, to Lend!!r 'uch instrument. .e Lender mey rllqulllt m ml 0 I
participation.
Compl/Dnoe WIth /..tIWI. Grantor W!lrrllnu that the ProPelrty and Grantor'. UlI of tho P'ro HIny oompllllll with ell SI:IIlIltinll 8p ) lceble lewII.
ofdinl!lncos, and resulatlonl of governmonral luthorltiea.
Loø" No: 110070613
MORTGAOE
(ContlnuedJ
000681.
Page 3
SurvlVlll of Proml.... All promleq .,,",em nts d
of this Mortgage, Ihlll be contlnu/r:; In n~re a'n:n~h::mertll Gfurl"n~r h.. m.d. 'n ~hll. Mortg'~1 .hlll .urvtve the ''I'OIoR/On ,nd delll/ory
full. ma n n Ivro~ IInd effect until eUOh time al Borrower'. Indebtedl'1"" I. peld In
CONDEMNATION. The following prOllieíons relating to oondemnatlon proceeding. are II part 01 this MOrtglg.1
~:':=~:I~s '~:y~r~~:::~~ In condemnetlon I, filed. Gr'nt~r ,h'lI prompUy notify l.nd.r In writing, Imf Grantor .hall promptly take
Londor &hall boontftkld to PlnJ~ ;Om ~~e~d the lIotl~n and ob'e..'! the IW.reI, . Grantor mav be the nomlnlll p.ny In '\lOh proceedIng. but
will d,'lver or OIU., to be dellvt~d to ~e~~~o=I~:: to be redP"'do"l'Ited In th, . proc.edlng by counsel of It. own oholoe, Ind Grantor
permit luoh pertlolp.tlon. mente an cumentst on II mly bl "qu.lted by londer from time to time to
AppIlo81lQ/1 of N9t "QCI..d.. If 1111 ar any plrt of the! Pr rty I d d I
~roh888 In lieu or oondemn8tlon. "enøer mlY .t Ita .'actl:~~oqu/:" O:t ~~: a~~ ::':~~:~.~~~::::~~IJ:f o:.,:~:~~ p:o::~~:~ ::
rl:~r:b~e:~::.s or the repaJrdor restoratl,an 01 the Proø.rty. ThtI net proOlllldl of tf1tI awaI'U ahl,l mean th, ,ward afar plyment of In
' .!Cp.n.... In .nomeys flu Inourred by Lender '" ootlnClotlon with the oondemnltlcn
::OIl~~I~h~~:' ~~IIX~.~St:':~=::IS IY GOVIRNMINTAL AUTHORrT!E'. Thè follow/tlg prOv/.lo~' relatIng to gov.rrvn.ntel tIX..,
c,::rtnt Taxel. Feee and Chari.. Upon requlet bV L.ender. Gr.ntor .h.1I .ICIOtJte luoh documentll In addition to th;, Monglge and take
~I ~ver od'l~r 'C::0ndl. r~qU41.ted by Linder to perfect and continue Lender's lien on the Aeal Propeny, Grantor .hell relmbUI'I8 lender for
a aX88, 8S 8Ic be be ow, togethlr with all explnses IncLlmld In rl!cording. parfeoting or oontlnurng this Monvage. IncludIng without
limItation 1111 taXle. fees, dooumentary '''l'I1pe, .nd othor ohllrgllc for recording or rag/lferlng thl. Mort'l,t.
TaIlN. The following shall constitute tllXII to which thl. net/on Ipplll.: (1) a spealflo tall; upon thie type of Mortaeøe or upon ell gr tny
pan of the Indebt'dne" ..cured bv mI. Mortgage, (~) II .peolflo tlX on Borrower which BÖl'I'ower ¡I .uthoriz.d or rwqu/red tg' deduo~
'rom p.ym.nl. on the Indlblldnees leoureQ by tN. type of Martg.g.¡ (3) a talC on thla type of MO"9'" ch.rg.lIbI. .g.ln.t the Lender or
tshe holder of the NOlei and (4) a SPlclflc tax on 1111 or any øortlon ot the Indlbtednen or on payment' of prlnolpal and Int.rest made by
òrrower.
Subsequent Tlxes_ If anv tax to whIch thl. Het/on IIpplles Is enaoted 8ubeeqUlnt to tha d.~a at thll Mon91gl, tn/. .v.nt sh.II h.ve the
sama effect II In Ewntof Default. and !.en<fer may exercise any or all or Its available ttm.dl.. for In !v.m or Deflu/t 18 provided balow
un/... Granlor althar 11 I pays the tax before it become. d'linquent, or (2) conteet, the t'l( .. þrovlded above In the Texes .nd ll.nl
OClo~on and dopocltc wIth Linder cash or a ,ufflcl.nt corporate lurety bond or other .ecurlty eatiefaotory to Lender.
SI!CURITY AOR!!MINT: JlINANCING STATeMENTS, The fvllowina pro\IÌlions relatIng to thle Mortgag. '1 . ..ourlty ag....ment are e PI" of
thle Mortgllgll:
Stcurfty Agreem.nt. thIs rn.trument shalt oonStitute e Security Agreement to the 8)118nt env ot the proptrty conetltut8. tbm......, .nd
Lllndør .hall haw ell of the right. of lI.eoured p.,rtv under the Uniform Commerclel Code III amended frQm tlml to tlm..
Securfty Int.l'N1. Upon request by Lender. Grantor .h.1I tlk. whlt,Vllr lotion II raqueabld by Lend8r to perftot and contInue ..endtr'.
IIlcurlty Int."al In the P'rlonal "'operty. In addition to reoordlng thie Mortg,g. in ~he rIal propeny reoord., L.ender may, .t any time and
without further authorIzation frO/l'l Grlntor, fll. IIX80utvd counmrpart., copies Ot I'I!Ipl'Oductione of thIs Mongag~ ae II tlnlnolng Itltlment.
Gr.n~r Ih,II rtllmburall Lender for all expenses Inoul'I'ed In perfecting or Continuing thll ,.cur/tV Interest. Up!)n default. Grantor shllll not
te"'ove, 8êver or detaoh the PerlClnøl Prope"y from the Property. Upo" defeult, Grantor .hlllal18mble IIny PIl'IOn,1 Prop_ny not affixed
to th" Property in II menner Ind It a price reesonably convenient to Grllntor and I.ender .nd make It svalllble to Lend,r withIn th",e (3)
days after /'Icolpt of wrlnen demand from L.ender to thl 'JeWnt p.rmftmd by Ippllaable law,
Ad"".. The mlJllng addresses of Grantor (debtorl el'ld LAnder II.oured partyl from whloh Inrorm.tlon conc,rnlng the ,eourlty InterMt
gramgd by thle MOrtglgll m.y bll obtained (lIIIc:h as required by the Uniform Commerclll Code) are I' steted on Ihe fl!'lt page or this
Mortgllgo.
AJRTHEA ASSURANCES; ATTORNEY-IN-FACT. Th. following provi.lons relating to further aeeur.nOlø and attorney-In-faot .re . plrt of Ihl.
Mongage:
Furthor ACSImInCIIII. At any time. and from time 10 tlml, upon rlque.t of Lend,r. Grantor will make. e)Cloute and dellvør, or will O'U18 to
b, mede, Ix'o\.lted or dellVllred, to Londor or to Londer's d.slgn..,. and wh.n ",queltld by Lender. cause to be filed, recorded. reffled. or
I'IIrecorded, 81 the clIse may be, lit luoh tlm.. and In euch otflC411 and placl. B8 Lender may d"1TI approprllt8, any and .11 such mortg.ges,
d.ed. of trUll, 18CUrlty duds. seourlty agreementl, flnlnolnø Itlfllmlnt8. contlnulUon Itltlment., lnatrumontc of further ...uranoe,
clrtltlelt.., and other documents as mllY, In the sole opinion of lender, be nlDlllsary or dlllrable In ord.r to ,H.ctuate, complete, PIl'toot,
aorrtfnue, or preeerve (1 I BorrDwor's and Grantor's obligations und.r the Not., thll Mortgage, and tI'Ié Rellted Dooumenta, and (2) the
lien. Bnd 8eourlty Intel'88t8 crelltad by thlll Monllallo III first and prior IIerlt on the ProPlrty. wheth.r ,now owned or hereafter IIcqulred bv
Grl~or, Unl... þrohlblttd by Ilw or Lendar agrees to !.tI, OQntrety In wrIting, Grllntor shall "lmbul'l8 "tl1d., for III co,tt and e/lpeniea
inoum:ld In CQI'II'II~Qtlon with the mattera referred to In thIs paragrlph.
A~,""n-Feot. If Grantot filII. to do any of tho mlngs referred 'to In the p...oodlng p.rlgraph, lender tn.,y do 80 for Bnd In the l1em. of
Grantor and lit Grlln~or'8 exøenl" Jlor .uoh PUrp08l8, Grlntor hereby Irrevoo.bly .ppolntll l.nder III Oramar', attorney.ln-fllot for the
purpo.e of mlklng. 8X8cutlng, delivI!ring, fj)j¡'lg. l'ecording, and doing all other thlng$ II l11av bl nao.lllllry or deelr.bla, In Lond,r'I'IDle
opinion, tel .coompll.h the manera referred to in the þrecedina paragrlph.
FULL PERFORMANCE. If Borr'\)wer and Grllnft:lr pay all the Indebtednetl when due, and Grantor otherwise performa all tho obllgltlons Impo..d
upon Grantor under this Mongagll. Lender .h.11 IXtCute Ind deliver to Orantor a suitebl. e.~ilfaotion of thle MDrtg.g' and .ultlble 1t8tement&
of 1trmlnetlon of Inv flnlnolng .tltement on file evldencln9 L.ender', 8110urlty Int.rest In the Rente 8M the Perlonll Property. Grentor will PIIY,
If permitted bv eppIlQlbl.l.w, Iny r...onabl' termination fee 8. determined by Londlr from time to time,
EVElllTS OF D ;~AUlT. At Llndor'e opt/on, Grantor wlJl be In dlfault uncl.r thla Mongtgolf any of the foUøwing heppen:
Peyrntnt Dtteult. Borrower tIn. ft:I mike any payment when due under me Indebtedness.
o.t.uft on Otte... Paymem&. Fllilure of Grantor within the time rtquJrad by thlll MortSlage to ¡ne~' any paymant for taxel or InluranclI. or
IIny other payment necessary to prevent filing ot or to effeot dlsoharge of eny lien,
Break Other Prornll4ll. Borrower or Gr.ntor bnlek8 any promise mia, tol.endll' or '.111 to perform promptly It tho time and Itrictlv In thø
mlnner provided In thl. Mortgage or In 8"Y egl'l!lement r,lated to thll Mong.ge.
Default In Plvor of Third PartiIS. ShOuld Borrower or any Gramor default under .ny lOin. .xtenslon of oredlt, "ourlty Igreement, purchuI
or 18188 agreement or "ny omllr IIgMomlnt, In favor of Iny other crldltor or p",*on t/'l.~ mey materially .Nect I"Y of Borrow,r . or .ny
Gren~or'l proptlrty ~r Borrower'. ability to replY tho Indebtedness or SorrOWllr'. or Grantor'. ability to perform their ,..,,,.ctlvl obllSlatlon.
under thi$ MOrtglOè or Iny relBted document.
FIll.. SUtementl. Any ropresentatlol1 or 8t81.mont m:ado or furnlsh.d to L.end" by Borrower Qr Gra~or or on Sorrow.t·, or a,.mor·,
behalf under this Mortoege or ~he Related Doouments I. fain or mllltadlng In ,ny mltvrl., r.speOt. either now or et the tlmo mBde or
furnl.hlld,
Defective ColllllerallAlon. Thl, MOI'tIJ.ao or Bny of the Aeleted DODumonts cellsu to be In full forca and effect lincludlnv hln~ of any
cgllateral docum.nt to create a valid and perfected .8curlty Intereat or lI,n) .t env time and for any 1'III0000on.
Death or Insolvenoy. The deeth of Borrower or Grentor, ti'l"lnlolvenoy of 80rrowllr or Gnlntor. the appointment 0111 r.calver for any ø.o~
of Borrower', or Gr.,ntof'ø property, any IIlIelgl1mlll'lt fOf the "-nlflt of oreclltCIrtl, any type of cradltor workout or the oommencement
any procCIOdlng under anv Þenkruptc:y or IMolwncy law::l by or against Borrower Qr Grantor.
f thll I' .... r other of 80rrowet'a or (jirllntor',
Taklnø of dI., Prv,.rty, Atly Ol'tditør or 90v,mm,ntcll 'Sf l1'leV trl.. to tllkll any 0 rOPI"r 0 . env . n.. with Lender.
property in whIch Lender h,e ,II,n. This Includes t8k,Ing of. garnishing of or 'evyI~r ;n~rro;lIIr · tO~h~'ep::e~°l:b8l'd II velld or
However, If Borrower or Grllntor dlsputee In good f.lth whether the o'.'m 0,1'11 W Cd f I t~~L.~d.r with moniel or a surety bond
ro;¡eonablll Bnd If Borrower or Gr.ntor gives Lender written notice of tl\e 081 m In urn s
SBtl8f8Cto~ to Lendor to çat1cfv ths claim. then thIs d"fault provifion will not /lpply.
Braaah of Other Ag....m.nt. Any brelch by Borr'Owet or Grantor undet the term, ðf IIny otl'ler agrll""nt between ::=~.~~~::;~r :~
Lend., thlt II not ramedled within IIny grlcI! period provIded thll1Jln, inOIUding without limitation øny 1191'
Loen No: 110070513
MORTGAGE
(Continued)
000682
Page 4
Indllbtlldnvss or other obllg:ltlon of 8orrowllr or Grantor to I.ender. whether exi.vno now Of rlNt,
EVlnte Affeoting Guarehtor A f h
of .ny of the Indebtedn..~ orn~no I e preceding events occurs with respect to Iny guer'ntor, .ndo....r, lur.ty, or accommOdlltlQn P'1'ty
disputes the validity of, or "ability ~n~~:r~~tyorÓ:e~:~~I~f :~I:Xd' ..r:!....I(fnccommod, ~~'on party fdle, or beoOme$ ino?møatant, or revokes or
not be required to I h ' . ., ...".. elll. n Inll lIyent 0 I dllth, LIndllr, It IU oøtlon, may, but Ihlll
eatlefactory to lend'erPtennnd t 'nt dl ,ílnusrantor I eSlaete to a88ume IItlOonøltlo"81ly the obllgatlonc¡ Qtlelng undllr the gUltlnw In . m.nn.,
, , I 0, g 80, CU1'8 Iny VÐnt ot Dafllllt.
;:~~:n C::~hI~f ~:~::~:~It~~~:~hln · ~~fIUlt In p.yment II ourlbll and If Grlntor hils not been gIven e notlae of :I brlllch of the ..ml
dlmending Ol,/re ot ,uoh detllult! (1) P~~:II :. t~~~~t(~~":t°~~nlt(m'581Ydbe cured ('t21Gr lfnthor, .nllr røoelvlng wrfttln not/c. from Lender
Immedlat.1 I itl hi h L ,","" 8V8: or t . cure requlrn mort ~han flfte.n (15) dlye
complete. :" ~el~~~.-;':P:: c Ind.r .deem·uffI'n LeI nder'. loll dlacretlon to be lufflolent to Ollro tho defeult end ~hereafter continue. and
nee....ry .,lpll c Int to produclI compliance as ,oon u rea,onably praOth~III.
:::~ :Da~:~~~: ~~ ~:~~~~~ U~~~e dooourredn,oe 01' anddE,V,ent of Default and at any time thereafter, Lender. .t Llndllr'l option, ~8V
9 r.. - In r.m. II, nit on to any otttar tlghbl or remedle, provided by IlIw:
' :cc.leçll'llbllndtlbl bte, d"lld"' Lend,r .hall have the right at its option withollt notioe 10 Gr.ntot to declare thl entlr. Indebtedn". Immedl.tlly
...e an pay. ., no u Ing anv prepaymlnt penalty whIch Grantor would be required to pay.
UCdC RlhmeUdi"'. With re.pect to all or lIny pert of tht Per'ontl Property, Lend.r .hlll hsw all the rIght' and remedl.. of I ..cured PIny
un or t II nltorm Commorclal Code.
Collect Renta. L.nd., Ih.1I haYe the right. without notloe to Borrower or Grantor, to t.k, POeeeøion of thl ProPtny, Inoludlng during the
pendenoy of 1<I...oI08ur" whllllhllr, JudicIal ,or non,Judlcl.l, .nd colllct ~h. Rants, including amounta paat du. Ind unplld, and epe/y the net
prooeede, O",r enø ,1)0ve L$nd.r e' OOlite, QgQlncI thQ Indobtldneal. In furtherance of ~hll 119h~ L.ndlr may requlrll any tenant or other
u..r of the Praperty to m.k, p*Ymtnta of "'1'11 or 1,1.. fill. dlrllctlV to LInder. If the Rente .re Oo"eOter;l by 19ndtr thlln Grantor Irrllvocably
desIgnate. Lender IIIJ Grantor'. .nomey- n-t.ot to endor.. Inltrumenta recelvlld In PIvmllnt thereof In the n.m, 0; B/'Qntor and to negotllt.
the sa~e and (¡olleot the prooeed,. Payments by te~.nta or other user. to lender In response to I.ender', demand th.11 .atl,rV the
obligations for which the payments arll made, whether or not any proper groundl for thl d.mlnd .xlltld. Lender mev eJlerolee Ita rlahts
undor thle s:ubpar~gr:lph IIlrhor In pereon, byaglnt, or through s receIver.
Appoint Alealv.r. Llnd'r ah," h.ve ~hl right to havI I rlcllver appolntld to tllke pol.essian of all or any part of the Property. with the
pow,r to proteot IIncI P..."rvll tho Þrope"W. to oper~te tho IÞroporty prvcodlng foreclolure or salll, lnet to colllct the ftlnts from the
Property end epplV t"-' pra0881f', over anCl stIQve the ooet of thll roolllwrchlp, agaInst the Indebtedne". The rllc.lv,r mlY .lIrve without
bond If permitted by Ilw. Lender's right to the ,ppQlntmen~ of I tlollwr 11'11111 exlet Whither or not the apper.nt v.luo of thl Property
e itoeeds the Indebtedness by II ,"bstlJntiol omount. Employment by Lender Ihal/ not diequlllfy a pereon from lervln; "' rlo.lv.r.
....,dlolll Foreclosure. Lender mlY obte'n e Jl.ldlols' deoree foreolo.'ng Grlntor'. Intlrest In all or any pIn ot the Property.
NOnjUd!C:/II ~./e. Lender mlY foreclole Grantor'a Int.....t In ,II or In anv pin of the ProJllrtV by non"¡udioial sale, and epecifloelly by .power
or sIll or 8dve"laement Ind 8eleW foreololfure .. provided by st'Me. ,
Dllflclonoy Judgmem. It permitted by .IppllcablQ law, !..end., mlY obtaIn. Judgment for .ny deficiency rem.lnlng In th. Indebtedne$$ due
~o Lender a~er 'pplloltlon of olllmountl reollved from thll exerc/.. of the rights provided /n thIs e'o~lon.
1'1I",1II10V 'It SUff8rangl. If Grlntor relTJa/l'1e h, po"e"'on of ~hl Propllrty aftor th. Property i. sold ., providilld .bovt or lender othœrwlle
becomes entltlÐcf to poase.slon of the Property upOn det.ult Of Grllntor. Brlnlor chili booom. a t.nant at IUffer,l'1C8 of Llndllr or the
purcheeer ot the Propeny and Shllll, lit Lender', option, either (1 Ply. .....on.bl. r.nt.' for the u.. of U1e Property, or (21 "10010 the
ProPQ"Y immadi.telv upon th. demlnd of lender.
Othêr Remetlee. Lender shill hive all other rIghts and remedIes ØrovtØØdln thla Mortgagl or thll Note or avallabl. It IlIw or In equity.
Sale of the Property. To tho OXIenl p.rmlttlDd by applicable law. Borrower Ind Gtlntor h....by wllve any end all right to h've the Property
m....h.,I.d. In .lIarolllng It. tight. 8nd r.m'dlN, Lender sharr Þa free to sell an or ,ny port of Ihe 'roperty together or IIparat.ly. In one
8ale or by Isperate aelee. Lender Ihall be entitled to bId 8t Iny pUbliCI 11111 on 811 or .ny portion of thcllÞroptrty,
Nodal of S.I.. Lender will give Grentor relSon.bla notlo. of the tlm" ,nd pllco of any pUblic 81'e of me P"Ion,1 ProPllrty or of the time
atter which IIny prlvetl sale or other Intended dispositIon of the P'reon,1 Proølny II to bl med.. RellOnellre no"ol .hall maan notice
given It IlIlt t.n 11 01 d'YI before the time of the 1.le or dlspo,ition. Any ,ale of the Per$onel PropertY may be mlde In conJl.lnodon with
.ny till, of the Real Property.
ElRtiOR af Rllmlldi",. All of Lender', rights end remedlee will be oumulatlve and mey be exerolled Ilone or togtther. An .'ectlon by
I.ender to ohoo.e anyone remedy will not bar I.ender from ullng Iny other remedy. If Lander decid.s to spand money or to perform Iny of
Grantor's obl/gltlone under this Mongage, after Grantor's r,IIure to do eo, ~he~ dacllllon by Lendllr will not aff.ct LInder'lI right to declere
Grantor In default and to eXlrCl,e I.ender', rømad'e.,
Attorn·vc' FIOA:; Ixponeoc. If LQnder institutes Iny suIt or action to enforce Iny of the t.rma of Ihll Mortgage, Lender shell be entitled to
rllCOVer suoh lum e. Ih. ooun may IdJudge rea.onable .s attorneys' tees II' ,rIel en<! upon Iny Ippeal. Whathor or not Iny court .ction i.
Involved, and to the . (t.n~ not prohibited by law, III relsonlble expenses Lend'r l('Icure that In LClnd1r'1 opinion are necllllry It .ny tlmo
for the prl>teotion of it, intereet Or the enforoement of itl rightl shell become a pert 01 the Indebt.dn". Plyabll on dlmand and ¡hell beer
Interest at the Note rate from the dete of the e l;Plnditure until reþlid. Expenles covered by this paregreph Inolude, without IImltetlon,
howClvQr lubjQct to any limite under applicable law, Lender's reason.ble 'Uorn.v.' felll .00 Lender'slellal e itpenses whether or not there Is
a I'Wlult, Inoludlng ,.uonebl. attorney,' teet and e-'<pens" for bankruptoy proOledlngs (IncludIng efforts to modIfy or v.e.t. any
lutomatlo stav Or InJunotlonl. aøøaale, 8nd any anticipated post-Judgment colleotlon servlcee, the OOet of clllrchlng records, obtllnlng tltl.
repOrt:! (inoluding foreclQII~ reportl!J , surveyOrs' røports. end apprelsll re.1 end title In.ur.no., to the .xtent permlnGd by applloable Ilw.
Crantor Ilso will pey øny coun: COiilt8, In Iddltlon to all other sums provIded by law,
NOTICeS. Any notloe required to be given under this Mortgage, Includlnil wIthout IImltadon .ny notlCQ of default and any n011ce of 1.10 shill be
given in writing, and shall be effeotive when actually delivered, when Ictuslly reoelvlld by tel.flollmll. lunl... otherw¡.. required by lew), wh.n
deposited wIth nltlonllly recognized overnIght courllr, or, If mallld. when deposited il') the United Statea man, ae first 01.../ alnlflod or
reglllurld mall postagl propilld, directed '0 the addre$"' shown nt.r thv btJglnnlng at thi, Mortgage. All oopiel of notices of fOrtolo.ur. from
the holder of .ny 11.('1 whloh h.. prIority over thIs Mortgage shall b4 e,nt to LandClr'. addre", as Ihown ne., the begInning of thie Mottaage.
Any person may change hi, Dr her eddres$ for notloss under thl. MonVlge by giving formal written notJce to the other person or pareon.,
specifyIng that thll purpose of the notioe is to chenge the person'e IddrelØ. For notloe øUfØo,,,, Grlntor egr8" to keep l,endor Informed at sll
tim,s Of Gr;anlor'$ ourrlnt Qddreec. Unless otherwise provided or rlqulred by law, If there I, more then on8 Grantor, IInv notloe given by Lender
to any Grantor Is deemed to be notlo. given to 811 Grantors. It will be Grontor'. rOlponsfbmty to tall tht other. of th. nOtIce from Lender.
MI$Clill.AI\IEOUS PROVISIONS. 1'''' following mlscellanœous provisionl! I,.. . part of this Mortgage:
AlI1IIndmllnt3. Whllt ¡5 written in this Mortglge and In the Rele~ad Oooumentl II Grantor's entire egrQQmllnt with Lender concerninG the
maners covered by thll Morto,ge. To be effective, any Qhan;e or amendment to this Mortgage muet be In wrIting end mUlt be $Igned by
whoever will be bound or obllgatlld by the ohengl or amendment.
Caption Headln;s. Caption headingl in thil Mortglge arc for aonvenle"oo ØUl' )OI1I8 only Bnd Ire not to be U811d to Interpret or d.flnll the
provlllon, at thle Mortgage.
Gavemlng law. This Mortgegl will be govlmld by fed....,/ew appUoable to L.nde, Ind. ~o the extent nut pr,.mpte~ bJ ~.~III ~v:t ~
lewa of ~h. State of Wyvmlng wtthO\lt regard to hi: confßots of law pravla/oNl. Thl. Ma/'ttlfluo hM been aooepted Þy n Ir n II t e Q
Wyoming.
Choice of Venue. It there Is a lewaUlt, Grontor agrlIN upon I.ender', requllt to submit to the jurisdlcllon of the covrt. of Sublette County,
S~~. of WyomIng. f
Jolm and Saveral Liability. All obligations of Borrower and GrentOf under this Mortg.g. '~III ~a Joint ~:rr:~":~:lI'~7: ~~:~.'~~:~-::ð~~
Grantor ahall moan eeth and every Grentor, Gnd aff raferllince. to Borrower sholl nteen eae an every .
/3r.ntar .Ignlng bQlow Is reSp0l18lbl$ for:lll obligation' In thl. MortsDse, .
f I. d · I hit l'I<Ie, thle Moltg.go unlQ"1I !.end., dolS '0 ,n
ND Will/ller by Londlr. Qrantor understands Lender will not give up ð/ty 0 en.' . r gUlf Lllnder doe!! ..vre.
writing. Thl fllot that Lender dllley. or omits to l itercise Iny right will not me"n that Lender haa given up that right. .
Loan No: 110070813
MORTGAGE
(Continued)
83 Page 6
11'1 writing to gIve up aile of Lender's rights thllt d G '
Gfentor IIIso underltGnd. that If Lender d~s conl:~ :t melln ~an:r:'" not hive to comply with the other prov/elone of thll Morta_ge.
IIO_in if the situlltlon hlppena Iga/n. Gl'llntor further und · ~:qu:s th I t 0:' not m~~n that (3rll!1tor will not have to vet Lel'ldef', oonaent
thlt doil not milan lIIndv will ba rIIqulrad to conlan.lto IInyn s f ~t ust ,eofllusa ....nd.r OOnHnta to on. or morll of O...ntor'I reque.tl,
paymlnt 11 d · a ° ...rlmor I: utura I'IquI.tI. Grlntor Wllve. prllentment dem.nd 'or
IGra.. th~r:,e ~~; 0~1~~'d of ~'~~onpor, Gr.ntordw~ve..1I rlOne. of exemption fram IICIClJtlan or I/mlll' Ilw In the Property: IIInd I3rlln~r
er n e rOP.My un er ,,,fl Mort9age .r. prIor to Grel'ltor'. rlaMe while thll Mortalal I'Imllns In effeot.
:h~~:~~'r~I: ~:~ft f Oø~lIthat :y )~vleIOn ot t!'lls Mortgage Ie not ve ld or .hould not be Inforccad, ~11: faot by Itlllf will not meln mlt
provIsion of this Mo~!:. Wmllynoþt.« vad t orb en, foro"lIdd' Therefore, I oourt wßl enfurOe tilt ,..t of the proVl,lon. of th'a Mortgagt Iven /f a
' 'WVWV ,oun 0 II nva or unenforoeeble.
:...~r ·Jcf Thb 8,e 8fohall be no merge, of the Intl"8t, or ellUlta Created by tN. MortgøllS With sny other Interest or estete Irt tha Proporty It any
me II yor r the benefit of LInder in any clløacity, without the written COMllntof Lendsr. ,
8UDOM.ora and All""". Sub .ct to .nv limitatIon. .tatld In thl. Morta.ge on tr.na", of Grlnto,', Inter8lt, th/8 Mortglge ,hall ba binding
uÞof'l ~nd Inure to the benefit of the venlel. their $uocessors Ind 8selgn8, If owner.hlþ of thl Proþel'tV becomes velted In I ÞØraon other
ttlan rlntor. Lend,r. without notloe to Grantor. may deal with Grantor's .uøceeeors with ref&I'$I'\O. to this Morrv.". Ind the Indebtedn,.,
bV way of forbe.ranco or axtonclon without r"llllng Grantor from the obllvet/ons of thl. Monglge or IIlbllhy under thl Indlbtldnllls.
Time I. of thl Eøenc.. Time 1& of the eaaence In the performance of thla MortSlge.
Walwr of Homwte.d EXIIII1Ptlon. Grllntor "Ireby raleulls and waives 1111 rIghts 1100 benefits of the hOmll Stead exemption lawe of the Statl
of Wyoming IS to .11 'ndebtldn... ..cured by th/. Moftlllge.
D&FINITION8. The fellowina worda ahall heve the folloWina meanlnos when UI!Ied in thfa Mortgage:
lorrowlr. Th. !Nord wBorrowlr" mlana Jacob M. TraUOhber and Amberlyn T'lughber Ind Ineludel III oO'llgnlrl and oo-makers slgllll)S tht
Note and all the" aUClolseor. and aseians.
Invlronmlm.1 Laws. Thl worde W!n\lrronm.n~.1 ~.w.· me.n .nv 'M .lItt.ta, ftldl'lllnd looallltltutal, rlgulltlon, and Qrdl"."o..
rllatlna to the prottlot/Qn of hume" health òr the enVlronmlnt, InOludlnq whl'lout IImltltlon thl Comprehlnllvt EnVIronmental RISpOli'.,
Comøensation, and Uability Aot of 1980. IS amended. 42 lJ.S.C. Seotlon 9601. et seq. I"CERCLA"'. the Suøerfund Amendmenta Ind
RIIButhorlzatlon Act of 1986, Pub. L. No. 99499 ¡"SARA"', thCl Hszardoul Mltlrlll. Tranlportatlon Act, 49 U.S.C. Section' 801, .t Mq..
~hCl At'o\,ll'ce Conservation and Aeoovlrv Aot, 42 U.S.C. Seotlon 0801, et eeq.. or other .ppllo.br. ".ta or fad.,.11 law., rules, or
regul.tlons adopted pursuent thereto,
Eve", o' De,.UIt. The word. "Evlnt or DeflultW ml.n any of the evvnu of dlfault I8t forth In this MOrtgl91 In the 'IIOnt. of dafault
tectlon of thIs Mortgage. .
Grantor. Tho word "Orantor" mllllN J.ecb Traughbor ö:lnd Amborlvn Traughbor.
GUlranty. Thl word "Ou.rlnty" mlln. tnl gUlramy from gUlrlntor. Inclorslr. IUl'lty, or Iccommodltlon perty to Lénder. including
without IIm~~lon a guaranty òf aU Of plrt of tM Nata.
HlIZllrdoua Substanca. The worda "Hlzlrdaua SubatlnclI" mlln mltlrl.11 that, becluse 0' thllr quantity. oonoentration or øhyaioal,
chemlc" or Infoctlous characteristics, mlY caule or po.e a present or potentia' hlzard to hum.n hNlth or the Invlronmant when
ImprQperly Ulad, treltld, Itored, d/.poled of, g_neretld, menufllcturld, trllnlportld Qr otherwls' handl.d. Th, worde wHezardous
Substanoe,w ere used jf'l their ~rv bro.dest sen.e and inolude without limitation env Ind III "ezerdoue or toxic IUÞ8tencel. mlterllll or
WClste 115 defined by or listed under the Environmentlll Laws. The term "He¡¡;illrclol/S Subatenc.." allO ¡noludaa, without IIml111tlon, petroleum
and petroleum by·products or Iny freet/on thereof Ind l.bestOS.
Imprvvements. The word "Improvements" meam. IllIexl,ting and future improvement'. bUildinv', etruoturee, mobile home. efflxed on the
Real Property, f8cllltlol, additions, reaplaclmants Ind othear constructlon'an thl R.II ProP'My.
Iqdebtednon. The word "Indebtedne.." meens all prlnolpal. Intllrlllt. lind, other .mounte, IIOSts and exptlnN' pIYlb/. under the Not. or
RelatCId Documents. toglthlr with all renlwals of. IXtln.loOl 01. modification. of. cDnsolldatlons of and substitution. for the No~ or
Related Documants .:and :any amounts expendod or ;dvanood by Landor to dllchllrgo Grantor'. obllgltlons or expenses Incurred by Linder to
enforce Grantor', obligations und., tl1/. Meng:lga, togathQr wIth Intlrca.t on lueh amounts II' proVIded In thl. Mongege.
Lender, The word "Lenderw meens Fll1It Stata Benlc of PInedale, Its successors and ..algn.. The wordl "SuCCllllors Dr IsslgnsW mean any
pel'llon or company thet .cqulree eny Int.ra.. In thl NOte.
Mortgl'lga. The word "MortEl'g," me,n. chI, MQn98ge b,~we.n Grllntor .nd Llndor.
NOM. Thl word "Not'" metns the promlalOry note dlted July 17, 2007, in the origin'" prlnolpel amount of .232,000.00 from
Borrower to Lender, together wIth III renew.I, of, extensIons Of, modifications cf, reflnanclnga of, con.elldstrons of. and substitutions for
1he promlllery neta er agroemean1. NOTTCI TO GRANTOR: THi NOTE CONTAINS A VAAIABU I/\ITERaT RAT!.
PaRana! Proporty. Tho words ·Parsonll! PrOPlnyw moan all equipment, fixtures, and other articles of paraonll proPlrty new or hereafter
cwnocl bV Gramor, and 'now cr here;fter attaohed or affixed to the R"I PropeMy; together with 81/ .0ce"lonl, pll1ll, and Iddltlans to, all
rlpJ.ccamlntl at, and III lubltltutlenl for, any of auoh property; end together with all prooeeda Unoludlng without limitation alllnlurlnee
o/'Oceede and refunds of premiums) from an)' e.l, or other dieposltlon of ~he Property. ,
Propeny. The word "Property" means oollectlvllv the Real Proøerty and the Plral,ln,1 Prop.lt'(.
RI,I Property. The word. "Rul Prep.rw" maan the roal property, IntarleUI Ind rlghtl, IS further deacrlbed In ~hl. Mortglga.
Re/at.d Documerm. The words -Rel.ted Ooolll1'lt",e" me.n .11 promluory nettla. credit agl1lements, loan 8gre.m.I'ItI, .nvlronmlntel
agreements, guaranties, eeour/ty agreements. mortgege., de,dl of tru.t/ tlacurlty dudc, collatora! mortglge., .nd .11 othlr In.truments.
agrfJlmente end documenta, whether now or herel".r exr8tlng, exeouted In OO""lct/on with thl Indebtedn"..
Ronte. 'Iñe word "RentsW means ell present and future rente, revenu"e, Income, III:UIII, rov-ltllI, proflta, IInd other blnlfl.. derlv.d from
the Property. ,
EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE. AND I!ACH GRANTOR AGREES TO ITS
TERMS.
GRANTOR:
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MORTGAGE
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INDIVIDUAL ACKNOWLEDGMENT
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