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REef: IVED
LINCOLN COUi'HYCLERK
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BOOK_1~ZPR PAGE"_~~"~
Space Above This Line For Recording Data
MORTGAGE
DATE AND PARTIES. The date of this Mortgage (Security Instrument) is May 30, 2001. The parties and their
addresses are:
MORTGAGOR:
REUEL T CALL
P 0 BO X 81 8
AFTON, Wyoming 83110
VERNA A CALL
POBOX818
AFTON, Wyoming 83110
LENDER:
FIRST NATIONAL BANK - WEST
Organized and existing under the laws of the United States of America
1001 Main Street
Evanston, Wyoming 82930
83-0162601
1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
and to secure the Secured Debts and Mortgagor's performance under this Security Instrument, Mortgagor grants,
bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property:
PART OF SECTION 36, T32N R119W OF THE 6TH P.M., LINCOLN COUNTY, WYOMING BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID SECTION
36; AND, RUNNING THENCE NORTH, 111 RODS; THENCE WEST, 80 RODS; THENCE SOUTH, 111 RODS;
THENCE EAST, 80 RODS TO THE POINT OF BEGINNING. EXCEPTING A STRIP OF LAND ALONG THE EAST SIDE
OF SAID LAND, 32 FEET WIDE AT THE SOUTH END AND 61 FEET WIDE AT THE NORTH END. LESS AND
EXCEPT ALL LAND CONTAINED IN WARRANTY DEED RECORDED FEBRUARY 27, 1974 IN BOOK 110PR ON
PAGE 450 OF LINCOLN COUNTY PUBLIC RECORDS. LESS AND EXCEPT ALL LAND CONTAINED IN WARRANTY
DEED RECORDED NOVEMBER 6, 1985 IN BOOK 232PR ON PAGE 682 OF LINCOLN COUNTY PUBLIC RECORDS.
LESS AND EXCEPT ALL LAND CONTAINED IN WARRANTY DEED RECORDED JULY 14,1992 IN BOOK 312PR
ON PAGE 648 OF LINCOLN COUNTY PUBLIC RECORDS. LESS AND EXCEPT ALL LAND CONTAINED IN
WARRANTY DEED RECORDED JULY 19, 1994 ON BOOK 354PR ON PAGE 351 OF LINCOLN COUNTY PUBLIC
RECORDS. LESS AND EXCEPT ALL LAND CONTAINED IN WARRANTY DEED RECORDED SEPTEMBER 21, 1998
IN BOOK 417PR ON PAGE 612 OF LINCOLN COUNTY PUBLIC RECORDS.
The pr(l!::e~-,)i is located in LINCOLN County at , AFTON, Wyoming 83110.
TogE:th~1 with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all
diversion payments or third party payments made to crop producers and all existing and future improvements,
structures, fixtures, and replacements that may now, or at any time in the future, be part of - the real estate
described (all referred to as Property); This Security Instrument will remain in effect until the Secured Debts and all
underlying agreements have been terminated in writing by Lender.
2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at anyone time
will not exceed $500,020.00. This limitation of amount does not include interest and other fees and charges
validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the
terms of this Security Instrument to protect Lender's security and to perform any of the covenants contained in
this Security Instrument.
3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
REUEL T CALL
Wyoming Mortgage
WY /4XBrendaT00505900003326011 060801 Y
<1:)1996 Bankers Systems, lno" St. Cloud, MN ~
Initials
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B. Rents, issues and profits (all referred to as Rents), including but not limited to security deposits, minimum
rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes,
other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation
premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract
rights, general intangibles, and all rights and claims which Mortgagor may have that in any way pertain to or are
on account of the use or occupancy of the whole or any part of the Property.
In the event any item listed as Leases or Rents is determined to be personal property, this Security Instrument will
also be regarded as a security agreement.
Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases. Mortgagor
may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default. Except for one lease period's
rent, Mortgagor will not collect in advance any future Rents without Lender's prior written consent.
Upon default, Mortgagor will receive Rents in trust for Lender and Mortgagor will not commingle the Rents with
any other funds. Amounts collected will be applied at Lender's discretion to payments on the. Secured Debts as
therein provided, to costs of managing. protecting and preserving the Property and to any other necessary related
expenses including Lender's attorneys' fees and court costs.
Mortgagor agrees that this assignment is immediately effective between the parties to this Security Instrument and
effective as to third parties on Mortgagor's default when lender takes an affirmative action as prescribed by the
law of the state where the Property is located. This assignment will remain effective during any period of
redemption until the Secured Debts are satisfied. Unless otherwise provided by state law, Mortgagor agrees that
Lender may take actual possession of the Property without commencing any legal action or proceeding. Actual
possession of the Property is deemed to occur when Lender notifies Mortgagor of Mortgagor's default and
demands that Mortgagor and Mortgagor's tenants pay all Rents due or to become due directly to .Lender. On
receiving the notice of default, Mortgagor will endorse and deliver to Lender any payments of Rents.
Mortgagor warrants that no default exists under the Leases or any applicable landlord law. Mortgagor also agrees
to maintain, and to require the tenants to comply with, the Leases and any applicable law. Mortgagor will
promptly notify Lender of any noncompliance. If Mortgagor neglects or refuses to enforce compliance with the
terms of the Leases, then Lender may opt to enforce compliance, Mortgagor will obtain Lender's written
authorization before Mortgagor consents to sublet, modify, cancel, or otherwise alter the Leases, to accept the
surrender of the Property covered by such Leases (unless the Leases so require), or to assign, compromise or
encumber the Leases or any future Rents. If lender acts to manage, protect and preserve the Property, lender
does not assume or become liable for its maintenance, depreciation, or other losses or damages, except those due
to Lender's gross negligence or intentional torts. Otherwise, Mortgagor will hold Lender harmless and indemnify
Lender for any and all liability, loss or damage that Lender may incur as a consequence of the assignment under
this section.
12. DEFAULT. Mortgagor will be in default if any of the following occur:
A. Payments. Mortgagor fails to make a payment in full when due.
B. Insolvency. Mortgagor makes an assignment for the benefit of creditors or becomes insolvent, either
because Mortgagor's liabilities exceed Mortgagor's assets or Mortgagor is unable to pay Mortgagor's debts as
they become due. .
C. Death or Incompetency. Mortgagor dies or is declared legally incompetent.
D. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this
Security Instrument.
E. Other Documents. A default occurs under the terms of any other transaction document.
F. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has with Lender.
G. Misrepresentation. Mortgagor makes any verbal or written statement or provides any financial information
that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
H. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor.
I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority.
J. Name Change. Mortgagor changes Mortgagor's name or assumes an additional name without notifying
Lender before making such a change.
K. Property Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money or property. This
condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
DUE ON SALE section.
L. Property Value. The value of the Property declines or is impaired.
M. Insecurity. Lender reasonably believes that Lender is insecure.
13. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument
evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
amounts advanced on Mortgagor's behalf will be immediately due and may be added to the balance owing under
the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available
on Mortgagor's default.
Subject to any right to cure, required time schedules or other notice rights Mortgagor may have under federal and
state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately
due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a default or
anytime thereafter.
If there is a default, Trustee will, in addition to any other permitted remedy, at the request o'f the Lender, advertise
and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and convey
absolute title free and clear of all right, title and interest of Grantor at such time and place as Trustee designates.
Trustee will give notice of sale including the time, terms and place of sale and a description of the Property to be
sold as required by the applicable law in effect at the time of the proposed sale.
REUEL T CALL
Wyoming Mortgege
WY 14XBrendaT00505900003326011 060801 Y
. C>1996 Bankers Systems. In(:,. 5t, Cloud, MN ~
Initials
Page 3
......
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U ~3 71i11i111i11i: . 6 3 J
includil~ut limitation all costs of litigation a.rneys' fees, which Lender and Len.ccessors or
assigns may sustain; and (2) at Lender's discretion, Lender may release this Security Instrument and in return
Mortgagor will provide Lender with collateral of at least equal value to the Property secured by this Security
Instrument without prejudice to any of Lend,er's rights under this Security Instrument.
L. Notwithstanding any of the language contained in this Security Instrument to the contrary, the terms of this
sectio'n will survive any foreclosure or satisfaction of this Security Instrument regardless of any passage of title
to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the contrary
are hereby waived.
16. CONDEMNATION. Mortgagor will give Lender prompt notice of any pending or threatened action by private or
public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other
means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or
claims, Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a
condemnation or other taking of all or any part of the Property, Such proceeds will be considered payments and
will be applied as provided in this Security Instrument, This assignment of proceeds is subject to the terms of any
prior mortgage, deed of trust, security agreement or other lien document.
17. INSURANCE. Mortgagor agrees to keep the Property insured against the risks reasonably associated with the
Property, Mortgagor will maintain this insurance in the amounts Lender requires. This insurance will last until the
Property is released from this Security Instrument. Mortgagor may choose the insurance company, subject to
Lender's approval, which will not be unreasonably withheld.
All insurance policies and renewals will include a standard "mortgage clause" and, where applicable, "loss payee
clause." If required by Lender. Mortgagor agrees to maintain comprehensive general liability insurance and rental
loSs or business interruption insurance in amounts and under policies acceptable to Lender. The comprehensive
general liability insurance must name Lender as an additional insured. The rental loss or business interruption
insurance must be in an amount equal to at least coverage of one year's debt service, and required escrow account
deposits (if agreed to separately in writing.)
Mortgagor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will
be applied to restoration or repair of the Property or to the Secured Debts, at Lender's option. If Lender acquires
the Property in damaged condition, Mortgagor's rights to any insurance policies and proceeds will pass to Lender to
the extent of the Secured Debts.
Mortgagor will immediately notify Lender of cancellation or termination of insurance. If Mortgagor fails to keep the
Property insured Lender may obtain insurance to protect Lender's interest in the Property. This insurance may
include coverages not originally required of Mortgagor, may be written by a company other than one Mortgagor
would choose, and may be written at a higher rate than Mortgagor could obtain if Mortgagor purchased the
insurance.
18. ESCROW FOR TAXES AND INSURANCE. As provided in a separate agreement, Mortgagor agrees to pay to
Lender funds for taxes and insurance in escrow.
19. CO-SIGNERS. If Mortgagor signs this Security Instrument but does not sign the Secured Debts, Mortgagor
does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debts and
Mortgagor does not agree to be personally liable on the Secured Debts. If this Security Instrument secures a
guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from
bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may
include, but are not limited to, any anti-deficiency or one-action laws.
20. WAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating
to the Property.
21. APPLICABLE LAW. This Security Instrument is governed by the laws of Wyoming, except to the extent
otherwise required by the laws of the jurisdiction where the Property is located. and the United States of America,
22. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgagor's obligations under this Security
Instrument are independent of the obligations of any other Mortgagor. Lender may sue each Mortgagor individually
or together with any other Mortgagor. Lender may release any part of the Property and Mortgagor will still be
obligated under this Security Instrument for 'the remaining Property. The duties and benefits of this Security
Instrument will bind and benefit the successors and assigns of Lender and Mortgagor.
23. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security Instrument may not be amended or modified
by oral agreement. No amendment or modification of this Security Instrument is effective unless made in writing
and executed by Mortgagor and Lender, This Security Instrument is the complete and final expression of the
agreement. If any provision of this Security Instrument is unenforceable, then the unenforceable provision will be
severed and the remaining provisions will still be enforceable.
24. INTERPRETATION. Whenever used, the ~ingular includes the plural and the plural includes the singular. The
section headings are for convenience only and are not to be used to interpret or define the terms of this Security
Instrument. I.
25. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any
notice will he given by delivering it or mailing it by first class mail to the appropriate party's address listed in the
DATE AND PARTIES section. or to any other address designated in writing. Notice to one party will be deemed to
be notice to all parties. Mortgagor will inform Lender in writing of any change in Mortgagor's name. address or
other application information. Mortgagor will provide Lender any financial statements or information Lender
requests. All financial statements and information Mortgagor gives Lender will be correct and complete,
Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider
necessary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and to confirm
Lender's lien status on any Property. Time is of the essence.
REUEL T CALL
Wyoming Mortgage
WY /4XBrendaT005059000033260 11 060601 Y
ill1996 Bankers Systems, In..,. St. Cloud, MN ~"
Initials
Page 5
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