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WHEN RECORDED MAIL TO:
FIRST BANK OF IDAHO
P.O. BOX 12860
JACKSON, WY 83002
8742 a
, REU: IVEO
LI~JCOL,N COUNTY CLERI<
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f\EMMEfiER. WYOMING
OK 467]RPAGE~ 60
Title Order No.: 03014591
LOAN#: 190019158
....._-, I'" ._"r'
ESCROW/CLOSING#: 03014591
SPACE ABOVE FOR RECORDERS USE
MORTGAGE
(Line of Credit)
TIllS MORTGAGE, dated JUNE 29, 2001 , is between CLAY W. SEALS AND LORI R.
SEALS, HUSBAND AND WIFE AS TENANTS BY THE ENTIRETY,
residing at 17 WHEATRI DGE LANE, ETNA, Wy 83118
the person or persons signing as "Mortgagor(s)" below and hereinafter referred to as "we" or "us" and FIRST BANK
OF IDAHO, AN IDAHO CORPORATION
with an address at P.O. BOX 12860
JACKSON, Wy 83002
and hereinafter referred to as "you" or the "Mortgagee."
MORTGAGED PREMISES: In consideration of the loan hereinafter described, we hereby mortgage, grant and convey to you
the premises located at 1 7 WHEAT RIDGE LANE
Street
ETNA
LINCOLN
WY
Municipality
and further described as:
LOT 39 OF NORDIC RANCHES DIVISION NO.3, LINOCLN COUNTY, WYOMING, ACCORDING TO THAT
PLAT FILED APRIL 6, 1993 AS PLAT NO. 311-B. This mortgage is second and subject to the
terms and conditions of a First Real Estate Mortgage in favor of First Bank of Idaho
fsb, d/b/a/ First Bank Advisors, an Idaho Corporation, dated June 29, 2001 in the
original amount of $150,000.00 and recording concurrently herewith.
County
State
83118
ZIP
(the "Premises").
AP #: 36192640018200
The Premises includes all buildings and other improvements now or in the future on the Premises and all rights and interests which
derive from our ownership, use or possession of the Premises and all appurtenances thereto.
LOAN: The Mortgage will secure your loan in the principal amount of $30,000.00, or so much thereof as may be
advanced and readvanced from time to time to Clay W. Seals ADD Lori R. Seals
the Borrower(s) under the Home Equity Credit Line Agreement and Disclosure Statement (the' 'Note' ') dated
JUNE 29, 2001, plus interest and costs, late charges and all other charges related to the loan, all of which
sums are repayable according to the Note. This Mortgage will also secure the performance of all of the promises and agreements made
WY Mortgage - HELOC - 1448 120094.1
rc 1997, 2001 Online Docwnents, Inc.
Initials:
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LOAN #; 190019158
payments, including over-due rental payments, directly from tenants after simply notifying them first class mail to make rental
payments to you; (iii) manage the Premises; and (iv) sign, cancel and change leases. We agree that the interest rate set forth in the
Note will continue before and after a default, entry of a judgment and foreclosure. In addition, you shall be entitled to collect all
reasonable fees and costs actually incurred by you in proceeding to foreclosure, including, but not limited to, reasonable attorneys
fees and costs of documentary evidence, abstracts and title reports.
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you the rents of the Premises.
You or a receiver appointed by the courts shall be entitled to enter upon, take possession of and manage the Premises and collect the
rents of the Premises induding those past due after simply notifying them by first class mail to make rental payments to you.
WAIVERS: To the extent permitted by applicable law, we waive and release any error or defects in proceedings to enforce this
Mortgage and hereby waive the benefit of any present or future laws providing for stay of execution, extension of time, exemption
from attachment, levy and sale and homestead exemption.
BINDING EFFECT: Each of us shall be fully responsible for all of the promises and agreements in this Mortgage. Until the Note
has been paid in full and your obligation to make further advances under the Note has been terminated, the provisions of this Mortgage
will be binding on us, our legal representatives, our heirs and all future owners of the Premises. This Mortgage is for your benefit
and for the benefit of anyone to whom you may assign it. Upon payment in full of all amounts owing to you under the Note and this
Mortgage, and provided any obligation to make further advances under the Note has tenninated, this Mortgage and your rights in
the Premises shall end.
NOTICE: Except for any notice required under applicable law to be given in another manner, (a) any notice to us provided for in
this Mortgage shall be given by delivering it or by mailing such notice by regular first class mail addressed to us at the last address
appearing in your records or at such other address as we may designate by notice to you as provided herein, and (b) any notice to you
shall be given by certified mail, return receipt requested, to your address at
P.O.BOX 3239
KETCHUM, 10 83340
or to such other address as you may designate by notice to us. Any notice provided for in this Mortgage shall be deemed to have been
given to us or you when given in the manner designated herein.
RELEASE: Upon payment of all sums secured by this Mortgage and provided your obligation to make further advances under the
Note has terminated, you shall discharge this Mortgage without charge to us, ewept that we shall pay any fees for recording of a
satisfaction of this Mortgage.
GENERAL: You can waive or delay enforcing any of your rights under this Mortgage without losing them. Any waiver by you of
any provisions of this Mortgage will not be a waiver of that or any other provision on any other occasion.
THIS MORTGAGE has been signed by each of us under seal on the date first above written.
WITNESS:
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Clay W. Seals
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Lori R. Seals
(Seal)
WY Mortgage - HELOC - 1448 120094.1
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LOAN #: 190019158
PLANNED UNIT DEVELOPMENT RIDER
TIDS PLANNED UNIT DEVELOPMENT RIDER is made this 29TH day of
JUNE, 2001, and is incorporated into and shall be deemed to amend and supplement the
Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date, given
by the undersigned (the "Borrower") to secure Borrower's Note to FIRST BANK OF
IDAHO, AN IDAHO CORPORATION
(the "Lender")
of the same date and covering the Property described in the Security Instrument and located at:
17 WHEATRIDGE LANE
ETNA, WY 83118
The Property includes, but is not limited to, a parcel ofland improved with a dwelling, together
with other such parcels and certain 'common areas and facilities, as described in
COVENANTS, CONDITIONS AND RESTRICTIONS
(the' 'Declaration' ').
The Property is a part of a planned unit development known as
Nordic Ranches Division No. 3 (the "PUD").
The Property also includes Borrower's interest in the homeowners association or equivalent
entity owning or managing the common areas and facilities of the PUD (the "Owners Associa-
tion") and the uses, benefits and proceeds of Borrower's interest.
PUD COVENANTS. In addition to the covenants and agreements made in the Security
Instrument, Borrower and Lender further covenant and agree as follows:
A. PUD Obligations. Borrower shall perform all of Borrower' s obligations under the PUD' s
Constituent Documents. The "Constituent Documents" are the: (i) Declaration; (ii) articles of
incorporation, trust instrument or any equivalent document which creates the Owners Associa-
tion; and (iii) any by-laws or other rules or regulations ofthe Owners Association. Borrower shall
promptly pay, when due, all dues and assessments imposed pursuant to the Constituent
Documents.
B. Hazard Insurance. So long as the Owners Association maintains, with a generally
accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is
satisfactory to Lender and which provides insurance coverage in the amounts, for the periods, and
against the hazards Lender requires, including fire and hazards included within the term" extended
coverage," then:
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender
of the yearly premium installments for hazard insurance on the Property; and
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage
on the Property is deemed satisfied to the extent that the required coverage is provided by
the Owners Association policy.
Borrower shall give Lender prompt notice of any lapse in required hazard insurance coverage
provided by the master or blanket policy.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair
following a loss to the Property, or to common areas and facilities of the PUD, any proceeds
payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the
proceeds to the sums secured by the Security Instrument, with any excess paid to Borrower.
C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to
insure that the Owners Association maintains a public liability insurance policy acceptable in form,'.
amount, and extent of coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages, direct or consequential,
payable to Borrower in connection with any condemnation or other taking of all or any part of the
Property or the common areas and facilities of the PUD, or for any conveyance in lieu of
condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by
Lender to the sums secured by the Security Instrument as provided in Uniform Covenant 10.
E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with
Lender's prior written consent, either partition or subdivide the Property or consent to:
(i) the abandonment or termination of the PUD, except for abandonment or termination
required by law in the case of substantial destruction by fire or other casualty or in the case
of a taking by condemnation or eminent domain;
MULTI STATE PUD RIDER - Single Family - Famrle Mae/Freddie Mac UNIFORM INSTRUMENT
Fonn 3150 9/90 Page 1 of 2
OPUD 909
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LOAN #: 190019158
(ii) any amendment to any provision ofthe "Constituent Documents" if the provision is for
the express benefit of Lender;
(iii)termination of professional management and assumption of self-management of the
Owners Association;
or
(iv) any action which would have the effect of rendering the public liability insurance coverage
maintained by the Owners Association unacceptable to Lender.
F. Remedies" If Borrower does not pay PUD dues and assessments when due, then Lender
may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional
debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other
terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate
and shall be payable, with interest, upon notice from Lender to Borrower requesting payment.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in
this PUD Rider. .
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Lori R. Seals
(Seal)
MULTI STATE PUD RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Fonn 31509/90 Page 2 of 2
GPUD
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