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RECORDATION REQUESTED BY:
The Jackson State Bank
P.O. Box 1788
112 Center Street
Jackson,WY 83001
874275
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WHEN RECORDED MAIL TO:
The Jackson State Bank
P.O. Box 1788
112 Center Street
Jackson,WY 83001
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SPACE ABOVE THI L
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SEND TAX NOTICES TO:
The Jackson State Bank
P.O. Box 1788
112 Center Street
n WY 83001
MORTGAGE
MAXIMUM LIEN. The lien of this Mortgage shall not exceed at anyone time $180,000.00.
THIS MORTGAGE dated June 27, 2001, is made and executed between Gaviotis Construction, Inc., a Wyoming
Corporation, whose address is P.O. Box 7338, Jackson, WY 83002-7338 (referred to below as "Grantor") and
The Jackson State Bank, whose address is P.O. Box 1788 , 112 Center Street, Jackson, WY 83001 (referred to
below as "Lender").
GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to Lender all of Grantor's right, title, and interest in and to
the 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, royalties, and profits relating to the real property, includir'9. without limitation all minerals, oil, gas, geothermal and similar matters, (the
"Real Property") located in Lincoln County, State of wyoming:
Lot 96 of River View Meadows Second Addition to the Town of Alpine, Lincoln County, Wyoming as
described on the official plat thereof.
The Real Pro~erty or its address is commonly known as 468 River View Drive, Alpine, WY 83128. The Real
Property tax identification number is 12-3718-30-4-00-120.00.
Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and future 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.
THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS
GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,
THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay 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:
Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2) use,
operate or manage the Property; and (3) collect the Rents from the Property.
Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance
necessary to preserve its value.
Compliance With Environmental Laws. Grantor represents and warrants to Lender that; (1) During the period of Grantor's ownership Of the
Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe that there has been,
except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use,
generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the
Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any person relating
to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nor any tenant,
contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous
Substance on, under, about or from the Property; and (b), any such acllvity shall be conducted in compliance with all applicable federal, state,
and local laws, regulations and ordinances, including without limitation all Environmental Laws. Grantor authorizes Lender and its agents to enter
upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the
Property with this section of the Mortgage. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
construed to create any responsibility or liability on the part of Lender to Grantor or to any other person. The representations and warranties
contained herein are based on Granlor's due diligence in investigating the Property for Hazardous Substances. Grantor hereby (1) releases and
waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any
such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses
which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Mortgage or as a consequence of any use,
generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or Interest in the Property,
whether or not the same was or should have been known to Grantor. The provisions of this section of the Mortgage, including the obligation to
indemnify, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and shall not be
affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuiSi\nC9 nor commit, permit, or suffer eny stripping of or waste on or to the
Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the
right to remove, any timber, minerals (Including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent.
Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory to Lender to replace
such Improvements with Improvements of at least equal value.
Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to
Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Mortgage.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in
effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Amertcans With
Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding,
including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion,
Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond, reasonably
satisfactory to Lender, to protect Lender's interest.
Duty to Protect. Grantor agrees neither to abandon ncr leave unattended the Property. Grantor shall do all other acts, In addition to those acls
set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, deolare immediately due and payable all sums secured by this Mortgage
upon the sale or lransfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest In the Real Property. A "sale or
transfer" means the conveyance of Real Property or any right, tille or interest in the Real PropertYj whether legal, beneficial or equitablej whether
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Loan No: 33007378 08t7(12~;~~
M_AGE
(Continued)
789_
Page 2
voluntary or involuntary; whether by outright sale, deed, Installment sale contract, land contract, contract for deed, leasehold Interest with a term greater
than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real
Property, or by any other method of conveyance of an interest in the Real Property. If any Grantor is a corporation, partnership or limited liability
company, transfer also includes any change in ownership of more than twenty-five percent (25%) of the voting stock, partnership Interests or limited
liability company interests, as the case may be, of such Grantor. However, this option shall not be exercised'by Lender if such exercise is prohibited by
federal law or by Wyoming law. .
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Mortgage:
Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, payroll taxes, special taxes, assessments, water charges
and sewer service charges levied against or on account of the Property, and shall pay when due all claims for work done on or for services
rendered or material furnished to the Property. Grantor shall maintain the Property free-of any liens having priority over or equal to the interest of
Lender under this Mortgage, except for those liens specifically agreed to in writing by Lender, and except for the lien of taxes and assessments not
due as further specified In the Right to Contest paragraph.
Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to
pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen
(15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if
requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient
to discharge the lien plus any costs and reasonable attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under
the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property.
Grantor shall name Lender as an additional obligee under any surely bond furnished in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
Property.
Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any
materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work, services,
or materials. Grantor will upon request of Lender furnish to Lender advance assurances satiSfactory to Lender that Grantor can and will pay the
cost of such Improvemenls.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Mortgage:
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a
replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any
coinsurance clause, and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and maintain comprehensive general
liability insurance In such coverage amounts as Lender may request with Lender being named as additional insureds in such liability insurance
policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, business interruption and boiler insurance
as Lender may require. Policies shall be written by such insurance companies and in such form as may be reasonably acceptable to Lender.
Grantor shall deliver to Lender certificates of coverage from each Insurer containing a stipulation that coverage will not be cancelled or diminished
without a minimum of ten (10) days' prior written notice to Lender and not containing any disclaimer of the insurer's liability for failure to give such
notice. Each insurance policy also shall include an endorsement providing that coverage In favor of Lender will not be impaired in any way by any
act, omission or default of Grantor or any other person. Should the Real Property be located in an area designated by the Director of the Federal
Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available,
within 45 days after notice is given by Lender that the Property is located In a special flood hazard area, for the full unpaid principal balance of the
loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as
otherwise required by Lender, and to maintain such insurance for the term of the loan.
Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Grantor
falls to do so within fifteen (15) days of the caSUE\lty. Whether or not Lender's security is impaired, Lender may, at Lender's election, receive and
retain the proceeds of any insurance I;lnd. apply the proceeds 10 the reduction of the Indebtedness, payment of any lien affecting the Property, or
the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Grantor shall repair or replace the
damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, payor
reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not In default under this Mortgage. Any proceeds
which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of the Property
shall be used first to pay any amount owing to Lender under this Mortgage, then to pay accrued interest, and the remainder, if any, shall be
applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment iri full of the Indebtedness, such proceeds shall
be paid to Grantor as Grantor's interests may appear.
Unexpired Insurance at Sale. Any unexpired insurant:e 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.
Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on each
existing policy of insurance showing: (1) the name of fhe insurer; (2) the risks insured; (3) the amount .of the policy; (4) the property insured,
the then current replacement value of such property, and the manner of determining that value; and (5) the expiration date of the policy. Grantor
shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property.
LENDER'S EXPENDtTURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or If Grantor fails
to comply with any provision of this Mortgage or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due
any amounts Grantor is required to discharge or pay under this Mortgage or any Related Documents, Lender on Grantor's behalf may (but shall not be
obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security Interests,
encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property.
All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or
paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be
payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become
due during either (1) the term of any applicable Insurance policy; or (2) the remaining term of the Note; or (e) be treated as a balloon payment
which will be due and payable at the Note's maturity. The Mortgage also will secure payment of these amounts. Such right shall be in addition to all
other rights and remedies to which Lender may be entitled upon Default.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Mortgage:
Title, Grantor warrants that: (a) Grantor holds good and marketable ti!le 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 description or in any title insurance policy, title report, or final title opinion Issued in
favor of, and accepted by, Lem;ier in connection with this Mortgage, and (b) Grantor has the full right, power, and authority to execute and deliver
this Mortgage to Lender.
Defense of Title. SubJect to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against the
lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the interest of Lender under this
Mortgage, Grantor shall defend the actios:l-at-'6rantor!s-!;lxp_ense. Grantor may be the nominal party In such proceeding, but Lender shall be
entitled to participate in the proceeding and to be represented irt the proceeding by counsel of Lerider's own choice, and Grantor will deliver, or
cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation.
Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws,
ordinances, and regulations of governmental authorities. '
Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Mortgage shall survive
the execution and delivery of this Mortgage, shall be continuing in nature, and shall remain in full force and effect until such time as Grantor's
Indebtedness shall be paid in full.
CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Mortgage:
Proceedings, If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly 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
entitled to participate In the proceeding and to be represented in the proceeding by counsel of lis own choice, and Grantor will deliver or cause to
be delivered to Lender such Instruments and documentation as may be requested by Lender from time to time to permit such participation.
Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purchase
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(Continued)
, -
791
Page 4
Loan No: 33007378
compliance as soon as reasonably practical.
RIGHTS AND REMEDIES ON DEFA~LT.. Upon the occ~rrence of_an Event of Default and at any time thereafter, Lender, at Lender's option, may
exercise anyone or more of the follOWing rights and remedies, in addition to any other rights or remedies provided by law:
Accelerate Indebtedness. Lender shall have the right at it option without notice to Grantor to declare the entire Indebtedness immediatelY due
and payable, including any prepayment penalty which Grantor would be. required to pay.
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under
the Uniform Commercial Code.
Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property, including during the pendency of
foreclosure, whether judicial or non-judicial, and collect 'the Rents, including amounts past due and unpaid, and apply the net proceeds, over and
above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make
payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's
attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds.
Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made,
whether or not any proper grounds for the demand existed. Lender may exercise Its rights under this subparagraph either In parson, by agent, or,
through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the power to
protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the
proceeds, over and above the cost of the receivership, ag&inst .the indebtedness, The receiver may serve without bond if permitted by law.
Lender's right to the appointment of a receiver shall exist whether or not the apparent value .of the Property exceeds the Indebtedness by a
substantial amount. Employment by Lender shall not disqualify a person from serving as-a receiver.
Judicial ~oreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest in all or any part of the Property.
NonjUdicial Sale. Lender may foreclose Grantor's Interest in all or in any part of the Property by non-judicial sale, and specifically by "power of
sale" or "advertisement and sale" foreclosure as provided by statute,
Deficiency JUdgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining In the Indebtedness due to
Lender after application of all amounts received from the exercise of the rights provided in this section.
Tenancy at Sufferance. If Grantor remains In posseSSion of the Property after the Property is sold as provided above or Lender otherwise
becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lender or the purchaser
of the Property and shall, at Lender's option,. either (1) pay a reasonable rental for the use of the Property, or (2) vacate the Property
immediately upon the demand of Lender.
other Remedies. Lender shall have all other rights and remedies provided in this Mortgage or the Note or available at law or In equity.
Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all right to have the property marshalled. In
exercising its rights and remedies, Lender shall be free to sell all or any part of the Property together or separately, in one sale or by separate
sales, Lender shall be enlllled to bid at any public sale on all or any portion of the Property.
Notice of Sale. Lender shall give Grantor reasonable notice of the lime and place of any public sale of the Personal Property or of the time after
which any private sale or other intended disposition of the Personal Property is 10 be made. Reasonable notice shall mean notice given at least
ten (10) days before the time of the sale or disposition.
Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make
expenditures or to take action to perform an obligation of Grantor under this Mortgage, after Grantor's failure to 'perform, shall not affect Lender's
right to declare a default and exercise its remedies. Nothing under this Mortgage or otherwise shall be construed so as to limit or restrict the rights
and remedies available to Lender following an Event of Default, or in any way to limit or restrict the rights and ability of Lender to proceed directly
against Grantor and/or against any other co-maker, gUarantor, surety or endorser and/or to proceed against any other collateral direclly or
Indirectly securing the Indebtedness. '.. ,.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Mortgage, Lender shall be entitled to recover
such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and
to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of.
its Interest or the enforcement of Its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate
from the date of the expenditure until repaid, 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 and expenses 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 tille reports (including foreclosure reports), surveyors'
reports, and appraisal fees and title insurance, to the extent permilled by applicable law. Grantor also will pay any CClUrt costs, in addition to all
other sums provided by law.
NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice of default and any notice of sale shall be given
in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited
with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage
prepaid, directed to the addresses shown near the beginning of this Mortgage. 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. Any party may change its address for
notices under this Mortgage by giving formal written notice to the other parties, speCifying that the purpose of the notice is to change the party's
address. For notice purposes, Grantor agrees to keep Lender informed at all limes of Grantor's current address. Unless otherwise provided or
required by law, if there Is more than one Grantor, any notice given by Lender 10 any Grantor is deemed to be notice given to all Grantors.
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.
Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request, a certified
statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require.
"Net operating income" shall. mean all cash -receipts from the Property less all cash expenditures made in connection with the operation of the
Property.
Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to interpret or define the
provisions of this Mortgage.
Governing Law. This Mortgage will be governed by, conslrued and enforced In accordance with federal law and the laws of Ihe Stale of
Wyoming. ThIs Mortgage has been accepted by Lender In the State of Wyoming. "
Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Teton County, State of
Wyoming. ,
No Waiver by Lender. Lender shall not be deemed to have waived anyiights, under this Mortgage unless such waiver is given 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 Lender of a provision of this Mortgage shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance
with that provision or any other provision of this Mortgage. 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 of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender
is required under this Mortgage, the 'granting of such consent by Lender In any instance shall not constitute continuing consent to subsequent
Instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
Severability. If a court of competent jurisdiction finds any provision of this Mortgage to be Illegal, invalid, or unenforceable as to any
circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible, the
offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified,
it shall be considered deleted from this Mortgage. Unless otherwise required by law, the Illegality, invalidity, or unenforceabilily of any provision of
this Mortgage shall not affect the legality, validity or enforceability of any other provision of this Mortgage, .
....
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- O~~i1t~;;;'(15
Loan No: 33007378
McaGE
(Continued)
-
793
Page 6
STATE OF
W~DmIl1~
J~Y\
cdl
CORPORATE ACKNOWLEDGMENT ']\
Notary publiC)
Michele LaBounta. f'
State 0 ~
) County of wyoming!,
) SS Teton 2004 "
, E. "Ires June 15, "
),"~~:;:~~...~:::..
COUNTY OF
ILASER PRO lendIng, \ler. .5.'e.11.03 (~) Cgm:t1nll'"tlx InI:lll'"poralad 1997, 2001. All Righi:! RI!oSiH'V.d, - WY C;\LASERPRO\CF1\LP\..\G.OJ.fC TR-J259 F'R~6J
llrr....