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RECORDATION REQUESTED BY:
FIRST NATIONAL BANK-WEST-AFTON BRANCH"
P.O. BOX 1620
314 WASHINGTON STREET
AFTON, WY 83110
WHEN RECORDED MAIL TO: 1 4 2 4 I
FIRST NATIONAL BANK-WEST -AFTON BRANCH
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AFTON, WY 83110 ~' .f 1..;;/), J~~;;" "\1.~
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/" SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
RECr:.IVED
UNCOLJl COUNTY CLERI<
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I{EMMEF;EH. \'VYOMING
BO~K467 PRPAGE G 6 J
MORTGAGE
ATED JUNE 15, 2001, between BARRY G. FULLMER and CHRISTINE E. FULLMER, not
ustees on behalf of BARRY G. FULLMER REVOCABLE TRUST & CHRISTINE E. FULLMER
UST under the provisions of a Trust Agreement dated March 17, 1997, whose address is PO
BOX 4182, BEDFORD, WY 83112 (referred to below as "Grantor"); and FIRST NATIONAL BANK-WEST-AFTON
BRANCH, whose address is P.O. BOX 1620, 314 WASHINGTON STREET, AFTON, WY 83110 (referred to below
as "Lender").
GRANT ~F MORTGAGE. For valuable consideralion, Grantor mortgages and conveys to Lender all of Grantor's right, titJe, and Interest In and to
t~e following described real property, together with all existing or subsequently 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 ditch or irrigation rights); and all
other rights, royallles, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, located
in LINCOLN County, State of Wyoming (the, "Real Property"): .
PART 1: Part of Section 32, T34N, R118W of the 6th P.M., Lincoln County, Wyoming, more particularly
described as follows: Beginning at a point 10 rods West of the East quarter corner of said Section 32
and running thence South 308 feet; thence West 465 feet; thence North 308 feet; thence East 465 feet
to the point of beginning. Part 2 A portion of the SE1/4SE1/4 of Section 32, Township 34N, Range
118W, 6th P.M. located South' of Bedford, Lincoln County, Wyoming and being more particularly
described as follows: The True Point of Beginnin'g being the Iron Pipe found at a point in the ,east line
of said SE1/4SE1/4, said point being 333.00 feet SO 017'44" E from the BLM. type Monument found
marking the Northeast corner of said SE1/4SE1/4; thence SO 017'44"E, continuing along said East line,
834.19 feet to the Iron Pipe set; thence West 262.50 feet to the Iron Pipe set; Thence No 017'44"W
834.19 feet to the Iron Pipe found; thence East 262.50 feet, to the True Point of Beginning.
The Real Property or its address is commonly known as PO BOX 4182, BEDFORD, WY 83112.
Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all leases of the Property and all Rents from the Property. In
addition, Grantor grants to Lender a Uniform Commercial Code security Interest in the Personal Property and Rents.
DEFINITIONS. The following words shall have the following meanings when used in this Mortgage. Terms not otherwise defined In this Mortgage shall
have the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in lawful money of
the United States of America.
existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described below in the Existing Indebtedness section of this
Mortgage.
Grantor. The word "Grantor" means BARRY G. FULLMER and CHRISTINE E. FULLMER, Trustees under that certain Trust Agreement dated
March 17, 1997 and known as BARRY G. FULLMER REVOCABLE TRUST & CHRISTINE E. FULLMER,REVOCABLE TRUST. The Grantor is the
mortgagor under this Mortgage.
Guarantor. The word "Guarantor" means and includes without limitation each and all of the guarantors, sureties, and accommodation parties In
connection with the Indebtedness.
Improvements. The word "Improvements" means and includes without limitation all existing and future improvements, buildings, structures,
mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property.
Indebtedness. The word "Indebtedness" means all principal and Interest payable under the Note and any amounts expended or advanced by
Lender to discharge obligations of Grantor or expenses incurred by Lender to enforce obligations of Grantor under this Mortgage, together with
interest on such amounts as provided in this Mortgage.
Lender. The word "Lender" means FIRST NATIONAL BANK-WEST-AFTON BRANCH; Its successors and assigns. The Lender is the mortgagee
under this Mortgage.
Mortgage. The word "Mortgage" means this Mortgage between Grantor and Lender, and includes without limitation all assignments and security
interest provisions relating to the Personal Property and Rents.
Note. The word "Note" means the promissory note or credit agreement dated June 15, 2001, in the original principal amount of
$60,484.50 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and
substitutions for the promissory note or agreement.
Personal Property. The words "Personal Property" mean all equipment, fixtUres, and other articles of personal property now or hereafter owned
by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of,
and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of
premium~) from any sale or other disposition of lhe Property.
Property. The word "Property" means collectively the Real Property and the Personal Property.
Real Property. The words "Real Property" mean the property, interests and rights described above In the "Grant of Mortgage" section.
Related Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, and all other instruments, agreements and
documents, whether now or hereafter existing, executed in connection with the Indebtedness.
Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the
Property.
THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS
GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ALL OBLIGATIONS OF GRANTOR UNDER THIS
MORTGAGE AND THE RELATED DOCUMENTS. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to Lender all amounts secured by this Mortgage
as they become due, and shall strictly perform all of Grantor's obligations under this Mortgage.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the
following provisions:
......
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-06-15~'- (jiS742(11
Loan No 6400242S --
r&lGAGE
(Continued)
06111
Page 3
Mortgage, then to pay accrued interest, and the remainder, if any, Shall be applied to the principal balance of the Indebtedness. If Lender holds
any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor.
Unexpired Insurance at Sale. Any unexpired Insurance shall inure to the benefit of, and pass to, the purchaser of the Property covered by this
Mortgage at any trustee's sale or other sale held under the provisions of this Mortgage, or at any foreclosure sale of such Property.
Compliance with Existing Indebtedness. During the period In which any Existing Indebtedness described below is In effect, compliance with the
insurance provisions contained in the Instrument evidencing such Existing Indebtedness shall constitute compliance with the Insurance provisions
under this Mortgage, to the extent compliance with the terms of this Mortgage would constitute a duplication of insurance requirement. If any
proceeds from the insurance become payable on loss, the provisions in this Mortgage for division of proceeds shall apply only to that portion of
the proceeds not payable to the holder of the Existing Indebtedness.
EXPENDITURES BY LENDER. If Grantor fails to comply with any provision of this Mortgage, including any obllgallon to maintain Existing Indebtedness
in good standing as required below, or if any aelion or proceeding Is commenced that would materially affect Lender's interests In the Property, Lender
on Grantor's behalf may, but shall not be required to, take1any action that Lender deems appropriate, Any amount that Lender expends in so doing will
bear Interest at the rate provided for in the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses, at
Lender's opllon, will (a) be payable on demand, (b) be added to the balance of the Note and be apportioned among and be payable wllh any
installment payments to become due during either (i) the term of any applicable insurance policy or (ii) 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. This Mortgage also will secure payment of these amounts. The
rights provided for In this paragraph shall be in addillon to any other rights or any remedies to which Lender'may be entilled on account of the default.
Any such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have had.
WARRANTY; DEFENSE OF TITLE. The following provisions relaling to ownership of the Property are a part of this Mortgage.
Title. Grantor warrants that: (a) Grantor holds good and marketable tille of record to the Property in fee simple, free and clear of aU liens and
encumbrances other than those set forth in the Real Property descripllon or In the Existing Indebtedness section below or in any title Insurance
policy, tille report, or flnaltllle 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 Ihls Mortgage to Lender,
Defense of TlUe. Subject to the exceplion in the paragraph above, Grantor warrants and will forever defend the tille 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 acllon 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 partlclpallon.
Compliance WIth. Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws,
ordinances. and regulalions of governmental authorities.
EXISTING INDEBTEDNESS. The following provisions concerning existing indebtedness (the ''Existing Indebtedness") are a part of this Mortgage.
existing Lien. The lien of this Mortgage securing the Indebtedness may be secondary and inferior to the lien securing payment of an existing
obligation with an account number of 980018523 to FLAGSTAR BANK described as: MORTGAGE LOAN DATED FEBRUARY 23, 1998 AND
RECORDED IN BOOK AT PAGE . The exlsllng obligation has a current principal balance of approximately $50,000.00 and is in the original
principal amount of $57,000.00. The obligation has the following payment terms: 15 YR FMHA. Grantor expressly covenants and agrees to pay,
or see to the payment of, the Existing Indebtedness and to prevent any default on such indebtedness, any default under, the instruments
evidencing such indebtedness, or any default under any security documents for such indebtedness.
Default. If the payment of any installment of principal or any interest on the Exlsllng Indebtedness Is nof made within the time required by the note
evidencing such indebtedness, or should a default occur under the instrument securing such indebtedness and not be cured during any
applicable grace period therein, then, at the option of Lender, the Indebtedness secured by this Mortgage shall become immediately due and
payable, and this Mortgage shall be in defaull.
No Modification. Grantor shall not enter Inlo any agreement with the holder of any mortgage, deed of trust, or other security agreement which
has priority over this Mortgage by which that agreement is modified, amended, extended, or renewed wllhoutthe prior writlen com;ent of Lender.
Grantor shall neither request nelr accept any future advances under any such security agreement without the prior written consent of Lender.
CONDEMNATION. The following provisions relating to condemnation of the Properly are a part of this Mortgage.
Application of Net Proceeds. If all or any part of the Property Is condemned 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, The net proceeds of the award shall mean the award after payment of all reasonable costs, expenses,
and allorneys' fees Incurred by Lender in connection with the condemnation.
Proceedings. If any proceeding in condemnation is filed, Grantor shall promplly notify Lender in writing, and Grantor shall promplly take such
steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding, but Lender shall be
entilled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause to
be delivered to Lender such instruments as may be requested by it from time to time to permit such participation.
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:
Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and take
whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for all
taxes, as described below, together with all expenses incurred in recording, perfecting or continUing thl:;; Mortgage, including wllhout limitation all
taxes, fees, documentary stamps, and other charges for recording or registering this Mortgage.
Taxes. The following shall constitute taxes to which this section applies: (a) a specific tax upon this type of Mortgage or upon all or any part of
the Indebtedness secured by this Mortgage; (b) a specific tax on Grantor which Grantor Is authorized or required to deduct from payments on the
Indebtedness secured by this type of Mortgage; (c) a tax on this type of Mortgage chargeable against the Lender or the holder of the Note; and
(d) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the S8me
effect as an Event of Defaull (as defined below), and Lender may exercise any or all of lis available remedies for an Event of Default as provided
below unless Grantor either (a) pays the tax before It becomes delinquent, or (b) contests the tax as provided above in the Taxes and Liens
section and deposits with Lender cash or a sufficient corporate surety bond or other security satlsfaelory to Lender.
SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Mortgage as a security agreement are a part of this
Mortgage.
Security Agreement. This instrument shall constitute a security agreement to the exlent any of the Property conSlltutes fixtures or other personal
property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender, Grantor shall execute financing statements and take whatever other action is requested by Lender to
perfect and conllnue Lender's security interest in the Rents and Personal Property. In addition to recording this Mortgage In the real property
records, Lender may, at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this
Mortgage as a financing statement. Grantor Shall reimburse Lender for all expenses incurred in perfecting or continuing this security Interest.
Upon default, Grantor shall assemble the Personal Property In a manner and at a place reasonably convenient to Grantor and Lender and make it
available to Lender within three (3) days aller receipt of written demand from Lender.
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 first page of this Mortgage.
FURTHER ASSURANCESj ATTORNEY-iN-FACT. The following provisions relating to further assurances and allorney-in-fact are a part of this
Mortgage.
Further Assurances. At any lime, and from time to time, upon request of Lender, Grantor will make, execute and deliver, or will cause to be
made, executed 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 assurance, certificates,
and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, conllnue, or
preserve (a) the obligations of Grantor under the Note, this Mortgage, and the Related Documents, and (b) the liens and security interests
created by this Mortgage on the Property, whether now owned or hereafter acquired by Grantor. Unless prohibited by law or agreed to the
contrary by Lender in writing, Grantor shall reimburse Lender lor all costs and expenses incurred In connection with the mailers referred to in this
paragraph.
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Loan No 640024251 ~3 # '-t.,... "t'
I'~AGE
(Continued)
G6~
Page 5
repaid at the rate provided for In the Note. Expenses covered by this paragraph include, without limitation, however subject to any limits under
applicable law, Lender's reasonable attorneys' fees and Lender's legal expenses whether or not there is a lawsuit, including reasonable attorneys'
fees for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals and any anticipated
post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and
appraisal fees, and title Insurance, to the extent permilled by applicable law, Grantor also will pay any court costs, in addition to all other sums
provided by law. '
NOTICES TO GRANTOR AND OTHER PARTIES. Any notice under this Mortgage, Including without limitation any notice of default and any notice of
sale to Grantor, shall be in writing, may be sent by telefacsimile (unless otherwise required by law), and shall be effective when actually delivered, or
when deposited with a nationally recognized overnight courier, or, if mailed, shall be deemed effective when deposited in the United Stales mail first
class, certified or registered mail, postage prepaid, directed to the addresses shown near the beginning of this Mortgage. Any party may change its
address for notices under this Mortgage by giving formal wrillen notice to the other parties, specifying that the purpose of the notice Is to change the
party's address. All copies of notices of foreclosure from the holder of any lien which has priority over this Mortgage shall be sent to Lender's address,
as shown near the beginning of this Mortgage, For notice purposes, Grantor agrees to keep Lender Informed at all times of Grantor's current address.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage:
Amendments. This Mortgage, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the
matters 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.
Applicable Law. This Mortgage has been delivered to Lender and accepted by Lender In the State of Wyoming. This Mortgage shall be
governed by and construed In accordance with the laws of the State of Wyoming.
Caption Headings. Caption headings In this Mortgage are for convenience purposes only and are nol to be used to Interpret or define the
provisions of this Mortgage.
Merger. There shall be no merger of the interest or estate created by this Mortgage with any other interest or estate in the Property at any time
held by or for the benefit of Lender in any capacity, without the wrillen consent of Lender.
Multiple Parties. All obligations of Grantor under this Mortgage shall be joint and several, and all references to Grantor shall mean each and
every Grantor. This means that each of the persons signing below is responSible for all obligations In this Mortgage.
Severability. If a court of competent jurisdiction finds any provision of this Mortgage to be invalid or unenforceable as to any person or
circumstance, such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances. If feasible, any such
offending provision shall be deemed to be modified to be within the limits of enforceability or validity; however, if the offending provision cannot be
so modified, it shall be stricken and all other provisions of this Mortgage in all other respects shall remain valid and enforceable.
Successors and Assigns. Subject to the limitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be binding upon
and inure to the benefit of the 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 reference to this Mortgage and the Indebtedness by way of
forbearance 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 performance of this Mortgage.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of
Wyoming as to alllndebtednes~ secured by this Mortgage.
Waivers and Consents. Lender shall not be deemed to have waived any rights under this Mortgage (or under the Related Documents) unless
such waiver is in writing and signed by Lender. No delay or omission on the part of Lender In exercising any right shall operate as a waiver of
such right or any other right. A waiver by any party of a provision of this Mortgage shall not constitute a waiver of or prejudice the party's right
otherwise to demand strict compliance with that provision or any other provision. No prior waiver by Lender, nor any course of dealing between
Lender and Grantor, shall constitute a waiver of any of Lender's rights or any of Grantor's obligations. as to any future transactions, Whenever
consent by Lender is reQuired in this Mortgage, the granting of such consent by Lender in any Instance shall not constitute continuing conSI;mtto
subsequent instances where such consent is required.
GRANTOR'S LIABILITY. This Mortgage is executed by Grantor, not personally but as Trustee as provided above in the exercise of the power and the
authority conferred upon and vested in it as such Trustee (and Grantor thereby warrants that II possesses full power and authority to execute this
instrument). It is expressly understood and agreed that with the exception of the foregoing warranty, notwithstanding anything to the contrary contained
herein, that each and all of the warranties, indemnities, representations, covenants, undertakings, and agreements made in this Mortgage on the part of
Grantor, while in form purporting ''to be the warranties, Indemnities, representations, covenants, undertakings, and agreements of Grantor, are
nevertheless each and everyone of them made and (ntended not as personal warranties, Indemnities, representations, covenants, undertakings, and
agreements by Grantor or for the purpose or with the intention of binding Grantor personally, and nothing in this Mortgage or in the Note shall be
construed as creating any liability on the part of Grantor personally to pay the Note or any inlerest that may accrue thereon, or any other Indebtedness
under this Mortgage, or to perform any covenant, undertaking, or agreement, either express or implied, contained in thil, Mortgage, all such liability, if
any, being expressly waived by Lender and by every person now or hereafter claiming any right or security under this Mortgage, and that so far as
Grantor and Its successors personally are concerned, the legal holder or holders of the Note and the owner or owners of any Indebtedness shall look
solely to the Properly and to other assets of the Trust for the payment of the Note and Indebtedness, by the enforcement of the lien created by this
Mortgage in the manner provided in the Note and herein or by action to enforce the personal liability of any Guarantor.
BARRY G. FULLMER AND CHRISTINE E. FULLMER ACKNOWLEDGE HAVING READ All. OF THE PROVISIONS OF THIS MORTGAGE AS
TRUSTEES AS PROVIDED ABOVE.
~jt,uJb-L'
~~~~
.' . r /' ,..-..." / h ':'/
By , 2-. ',,-9f..~
CH 1ST! E. F ~R TRUSTE ~
INDIVIDUAL ACKNOWLEDGMENT
STATE OF
Wynm-ing
)
) 88
)
COUNTY OF
Lincoln
PENNY JONES _NOtary Public
County of State of
Lincoln Wyoming
I MY Commlt.ion Explles ptember 1 B. 2003
......
On this day before me, the undersigned Notary Public, personally appeared BARRY G. FLR-LMER, TRUSTEE; and CHRISTINE E. FULLME':1
TRUSTEE, to me known to be the Individuals described in and who executed the Mortgage, and acknowledged that they signed the Mortgage as their
free and voluntary act and deed, for the uses and purposes therein mentioned.
Glv r my hand and 0 clalsealthls 15th day of June ,20 01
B
Residing at Thayne, Lincoln Co
My commission expires
9/18/01
LASER PRO, Reg. U.S, Pat. & T.M, Off., Ver. 3.27 (e) 2001 CFI proServlees. Ine, All rights reserved, IWY-G03 F3.26b P3,2Bb BFULLME1 .LN]
.....
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