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Home My WebLink About873745 01014447 -- - - ~J F':ECEI\/;:=i). L.i (',lGG!"!',1 C l)tJ f\iTY ClEf~}( ':",1 ~J "J"l '1 hr.; U ' . ; --j'v .,'~ \ ! 1 ] '.1 '~:i d. . "'" ._, I -.; ~ ,;-1 I.. ,I , .~. , ',' T ,., ~ I I j: ,,: . BOOK_46~ PRPAGE ,~2 2 ;. t:,:.p i\ 1'\ 1 i~\~!~ '::..':\ (:: r\! l~:- C) ". / I ""l 'II [ -: I ,. ./ ,".'"L > I 1 ~; I \, "" I~... S ' J . ,..... ",. ,.~ i< [: ~IVI,; rV~ [ t.~;1 L: r~~ ~ "~"j \" () ~\.'i 1 N G -- no. - State of Wyoming Space Above This Line For Recording Data REAL ESTATE MORTGAGE (With Future Advance Clause) 1. DATE AND PARTIES. The date of this Mortgage is P.~'~.H.QQ1........................".., __ and the parties and their addresses are as follows: MORTGAGOR: wr.q~!~.q .Vm:;.1: m~IG~/.~~G< fl. WYPM!I')lH ~!1't1,IT.E.Q .L,IMlmr. ~.QM~~NY< fl. WYPM!I')l~. ~!MIT.~Q .LJ~.~lmY. ~~~r.~I')lX ...,.. .. r:p:.~9X ~.~~.............................................. m~y.~;, WY. ~.~m........................................ o Refer to the Addendum which is attached and incorporated herein for additional Mortgagors. LENDER: T.~~ .Q~N.~ .Q~ .~T~R YA~~~Y. ... ... ... ... ... ... ... ... ...... ... ... ...... ... ... ... ... ... ... ...... ... ... .., ... ... ... ... ... ...... .. ~.~4 WA.~~II')l~.1QN. ~J:ij~~T.. ... ... ... ... ... ... ...... ... ...... ... ...... .. . ... ... ... ... ... ... ... ...... ... ... ... ... ... ... ... ... .. P.Q aQlc, ~DA~.. ...... ... ... .. . .. . ... ...... ... ... .. . ....-.. - -- --, --, -- - -- - - .. ... . . . . . . . .. . . . .. . . .. . . . . .. , - ,', -- -- , , - , , - , -- . --, .. A.~10Jll,. Wx, ~~.1.\ Q. .. .. . .. . .. . . . . . .. .. . . . . .. . . .. .. . . .. . .. .. . .. . . .. . . . . . . .. . .. . . .. . .. .. . .. . .. . .. . . .. .. . . . . . .. . .. . . . . .. .. . .. . .. P.~.D.~'. ~ J ~.~ . . . .. . .. . . .. . .. . .. . .. . .. . .. . .. .. . .. . .. . .. . . .. . .. . .. . .. . .. . . . . .. .. . . . . .. . .. . . . . .. . . . . .. . . .. . . . . .. .. . .. . . .. .. . .. . . . 2. MORTGAGE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (hereafter defmed), Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART OF ~o~ ~. m~~ ,/;; 0-;"'~:-'./;/'/~:}'- Thi~ Mortga.ge 'i~~t~:t:~l:tf M,~ITlUD '::"",.....-;- '-. "/.,,.- ,1.11'1:' ..--:." ...~~ The property is located in .............................. JlI\IC.Q~~............ .. .. ...... .. .. .... at H.I~.~W~ Y. ~~. .. ............ .. ....... ... . .. . .. . (County) . .. .. . .. . ... . .. . . . . .. . .. . .. . . . . .. .. . . .. . .. .. . . .. . . . . .. . .. .. . ., ................... .TH~ YN.~ . . .. . , . . . .. .. . .. . . ., Wyoming ......... .~~ 1 ~.7. . . . .. . .. . (Address) (City) (ZIP Code) Together 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 tllllt: III the future, be part of the real estate described above (all referred to as "Property"). The term Property also includes, but is not limited to, any and all water wells, water, ditches, reservoirs, reservoir sites and dams located on the real estate and all riparian and water rights associated with the Property, however established. 3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this Mortgage at anyone time shall not exceed $ .1!H,.~~MQ............................. . This limitation of amount does not include interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and other charges validly made pursuant to this Mortgage and does not apply to advances (or interest accrued on such advances) made under the terms of this Mortgage to protect Lender's security and to perform any of the covenants contained in this Mortgage. Future advances are contemplated and, along with other future obligations, are secured by this Mortgage even though all or part may not yet be advanced. NothinJZ in this Mortgage, however, !;b~ll constitute a commitment to make additional or future loans or adva~ces in a~y amount. Any such commitment would need to be agreed to in a separate writing. 4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is not limited to, the following: A. The promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all extensions, renewals, modifications or substitutions (Evidence of Debt): .QI')l~.~~.Q~J~~Q~X ~.QH.QfI.1~Q.~1~llQl Jl\I. rH~.I\MQVNT .Qf...... ... ~.1.4 7 .~~~P.Q .. .... ... .. . ... ... ... ... ... ...... ... ...... ... .. . ... ... ... ...... .... .. . .... __ ' __ __, __ , , _ , ,H . . . H . . . . . . . . . . . . . . . . . . ' , .. ,.. ' _ , , _ , H . ............................................................................................................................................. ............................................................................................................................................. ..........................................................,.................................................................................. (e.g., borrower's name, note amount, Interest rate, maturlry dare) WYOMING. AGRICUL TURAL!COMMERCIAL MORTGAGE INOT FOR FNMA. FHLMC. FHA OR VA USE. AND NOT FOR CONSUMER PURPOSES) (page 1 of 6) lID1993 !lanke" Systems, Inc" St. Cloud, MN (1'-800,397-2341) Form AG/CO.MTG-WY 10/20/93 ~ -;.~, ''1 L'~ U ef If ..j / 10"1:;;:) - - .J... ("""" \.-' B. All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender under any promissory note, contract, guaranty, or other evidence of debt existing now or executed after this Mortgage whether or not this Mortgage is specifically referred to in the evidence of debt. C. All obligations Mortgagor owes to Lender, which now exist or may later arise, to the extent not prohibited by law, including, hut not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. D. All additional sums advanced and expenses incurred by Lender for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of this Mortgage, plus interest at the highest rate in effect, from time to time, as provided in the Evidence of Debt. E. Mortgagor's performance under the terms of any instrument evidencing a debt by Mortgagor to Lender and any Mortgage securing, guarantying, or otherwise relating to the debt. If more than one person signs this Mortgage as Mortgagor, each Mortgagor agrees that this Mortgage will secure all future advances and future Obligations described above that are given to or incurred by anyone or more Mortgagor, or anyone or more Mortgagor and others. This Mortgage will not secure any other debt if Lender fails, with respect to such other debt, to make any required disclosure about this Mortgage or if Lender fails to give any required notice of the right of rescission. 5. PAYMENTS. Mortgagor agrees to make all payments on the Secured Debt when due and in accordance with the terms of the Evidence of Debt or this Mortgage. 6. CI"AIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments. liens, encumbrances, lease payments, ground' rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Mortgage. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses which Mortgagor may have against parties who supply labor or materials to improve or maintain the Property. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property and that may have priority over this Mortgage, Mortgagor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C. Not to make or permit any modification or extension of, and not to request or accept any future advances under any note or agreement secured by, the other mortgage, deed of trust or security agreement unless Lender consents in writing. 8. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of any lien, encumbrance, transfer, or sale, or contract for any of these on the Property. However, if the Property includes Mortgagor's residence, this section shall be subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. For the purposes of this section, the term "Property" also includes any interest to all or any part of the Property. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Mortgage is released. 9. TRANSFER OF AN INTEREST IN TIm MORTGAGOR. If Mortgagor is an cntity othcr than a natural person (such as a corporation or other organization), Lender may demand immediate payment if (1) a beneficial interest in Mortgagor is sold or transferred; (2) there is a change in either the identity or number of members of a partnership or similar entity; or (3) there is a change in ownership of more than 25 percent of the voting stock of a corporation or similar entity. However, Lender may not demand payment in the above situations if it is prohibited by law as of the date of this Mortgage. 10. ENTITY WARRANTIES AND REPRESENTATIONS. If Mortgagor is an entity other than a natural person (such as a corporation or other organization), Mortgagor makes to Lender the following warranties and representations which shall be continuing as long as the Secured Debt remains outstanding: A. Mortgagor is an entity which is duly organized and validly existing in the Mortgagor's state of incorporation (or organization). Mortgagor is in good standing in all states in which Mortgagor transacts business. Mortgagor has the power and authority to own the Property and to carry on its business as now being conducted and, as applicable, is qualified to do so in each state in which Mortgagor operates. B. The execution, delivery and performance of this Mortgage by Mortgagor and the obligation evidenced by the Evidence of Debt are within the power of Mortgagor, have been duly authorized, have received all necessary governmental approval, and will not violate any provision of law, or order of court or governmental agency. C. Other than disclosed in writing Mortgagor has not changed its name within the last ten years and has not used any other trade or fictitious name. Without Lender's prior writtcn conscnt, Mortgagor does not ,and will not use any other name and will preserve its existing name, trade names and franchises until the Secured Debt is satisfied. 11. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor will give Lender prompt notice of any loss or damage to the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor will not initiate, join in or consent to any change in any private restrictive covenant, zoning ordinance or other public or private restriction limiting or defmIng the uses which may be made of the Property or any part of the Property, without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor or any other owner made under law or regulation regarding use, ownership and occupancy of the Property. Mortgagor will comply with all legal requirements and restrictions, whether public or private, with respect to the use of the Property. Mortgagor also agrees that the nature of the occupancy and use will not change without Lender's prior written consent. No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent except that Mortgagor has the right to remove items of personal property comprising a part of the Property that become worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value to ""the replaced personal property, free from any title retention device, security agreement or other encumbrance. Such replacement of personal property will be deemed subject to the security interest created by this Mortgage. Mortgagor shall (page 2 of 6) . ~ @1993 Bonko,. Syotomo. Ino.. St. Cloud. 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S ,1<:lpU;;I1 Uo APl ARM OU If! IHM 10llp,llllOW PUlllY<lU:;lq S ,l;lpU;l']lOJ AI:;llnU;;I aq IlllqS ,ul<ldOld ;lql JO uonO;;ldsu! AUV . All<ldOld atp 'Suno;;ldsu; JO <lSOdlnd <ltp 10J ;lWn alqwoSll<:ll hUll lP. All<ldOld <llp l;llua 'noMo S ,l<lPU<:l']lll 'AllIU sluailll S ,1;'lPU;;I1: 10 l<lpU<l'] 'lU<lSUO:> uallpM lopd S ,1;;1pU<l']lnOlp!M All;ld01d alp <lpIAwqns 10 uonn.Jlld loa " v2T S\7t..\f:t~BO ...... - 08'73'7':15 - - ,i Z ~) G. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible land or to tJ1e conversion of wetlands to produce an agricultural commodity, as further explained in 7 C.F,R, Part 1940, Subpart G, Exhibit M. 16. REMEDffiS ON DEFAULT, In some instances, federal and state law will require Lender to provide Mortgagor with notice of the right to cure, mediation notices or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Mortgage in a manner provided by law if this Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upou lh~ occurrence of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by Ia w, the Evidence of Debt, other evidences of debt, this 'Mortgage and any related documents including without limitation, the power to sell the Property. All remedies are'distinct, cumulative and not exdusive, and the Lender is entitled to all remedies provided at law or equity, whether expressly set forth or not. The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lemler's right to require full and complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if it continues or happens again. 17, EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Mortgage. Mortgagor will also pay on demand all of Lender's expenses incurred in collecting, insuring, preserving or protecting the Property or in any inventories, audits, inspections or other examination by Lender in respect to the Property. Mortgagor agrees to pay all costs and expenses incurred by Lender in enforcing or protecting Lender's rights and remedies under this Mortgage, includin2. but not limited to, attorneys' fees, court costs, and other legal expenses. Oncc the Secured Debt is fully and finally paid, Lender agr~es to release this Mortgage and Mortgagor agrees to pay for any recordation costs. All such amounts are due on demand and will bear interest from the time of the advance at the highest rate in effect, from time to time, as provided in the Evidence of Debt and as permittcd by law. 18. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental Law" means, without limitation, the Comprehensive Euvirunm~ntal Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) "Hazardous Substance" means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that, except as previously disclosed and acknowledged in writing: A. No Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refIned, or handled by any person on, under or about the Property, except in the ordinary course of business and in strict compliance with all applicable Environmental Law, B. Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on thc Property . C. Mortgagor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance occurs on, under or about the Property or migrates or threatens to migrate from ncarby property; OJ: (2) thel-e is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial action in accordance with Environmental Law. D. Mortgagor has no knowledge of or reason to believe filert: is any pending or threatened investigation, claim, or proceeding of any kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Mortgagor or any tenant of any Environmental Law. Mortgagor will immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an event, Lender has the right, but not the obligation, to participate in any such proceeding including the right to receive copies of any documents relating to such proceedings. E. Mortgagor and every tenant have been, are and shall remain in full compliance with any applicable Environmental Law. F. There are no underground storage tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. G. Mortgagor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and complied with. H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all records at any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environmental Law. I. Upon Lender's request and at any time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified environmental engineer to prepare an environmental audit of the Property and to submit the results of such audit to Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's approval. J.' Lender has the right, but not the obligation, to perform any of Mortgagor's obligations under this section at Mortgagor's expense. K. As a consequence of any breach of any representation, warranty or promise made in this section, (1) Mortgagor will indemnify and hold Lender and Lender's successors or assigns hannless from and against all losses, claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses, including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Mortgage and in return Mortgagor will provide Lender with collateral of at least equal value to the Property secured by this Mortgage without prejudicc to any of Lender's rights under this Mortgage. 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P:lU!lllUO:J <I'iilln'iiullI <110 JO AUll 3U!PUll1Slp!~ON; ''l 9.21' ~;'7 1:.. r: t.~ B (\ '~ - - - .i i I OS7a';?4.S include the plural and the plural the singular. The captions and headings of the sections of this Mortgage are for convenience only and are not to be used to interpret or define the terms of this Mortgage. Time is of the essence in this Mortgage. 25. NOTICE. Unless otherwise required by law. any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Mortgage, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors, 26. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any right regarding the marshalling of liens and assets and all homestead exemption rights relating to the Property. 27. V.C.c. PROVISIONS. If checked, the following are ilPJilicable to, but do not limit. this MGrcgage: o Construction Loan. This Mortgage secures an obligation incurred for the construction of an improvement on the Property . o Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property. o Crops; Timber; Minerals; Rents, Issues, and Profits. Mortgagor grants to Lender a security interest in all crops, timber and minerals located on the Property as well as all rents, issues, and profits of them including, but not limited to. all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and similar governmental programs (all of which shall also be included in the term 'Property"). o Personal Property. Mortgagor grants to Lender a security interest in all personal property located on or connected with the Property. This security interest includes all farm products, inventory, equipment, accounts, documents, instruments, chattel paper, general intangibles, and all other items of personal property Mortgagor owns now or in the future and that are used or useful in the construction, ownership, operation. management. or maintenance of the Property, The term "personal property" specifically excludes that property described as "household goods" secured in cOIll1ection with a "consumer" loan as those terms are defmed in applicable federal regulations governing unfair and deceptive credit practices. o Filing As Financing Statement. Mortgagor agrees and acknowledges that this Mortgage also suffices as a financing statement and as such, may be filed of record as a fmancing statement for purposes of Article 9 of the Uniform Commercial Code, A carbon, photographic, image or other reproduction of this Mortgage is sufficient as a financing statement. 28. OTHER TERMS. If checked, thc following are applicable to this MOltgagt:; o Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Mortgage will remain in effect until released. o Additional Terms. ...,..........,...,.................,.,...."........,.......................,. ," . .. .. . .. . , .. . . . . .. . .. .. . . .. . , . . .. . .. ............................................................................................................................................. ........_------..............._-----.-....................................................................................................... SIGNATURES: By signing below, Mortgagor agrees to the tenus and covenants contained in this Mortgage and in any attachments, Mortgagor also al.:k.lluwlt:llges receipt of a copy of this Mongage on the date stated above on Page 1, !Xl Actual authority was granted to the parties signing below by resolution signed and dated 9?:'.H.o.Ql" , _, '" ". ... .. " ... Entity Name: WmlYl!I)l,l~W~~.1.Q~$lGI)l,,~~G,.p...WYPMll)l~. ~!IYI.IT.F,Q ,l,l~.~lmY CDMf\/llfity Namt:; ......", ..",..........." ,.. ...,........ ......,., ,.. ... (ii~\!:.~~.........iD;;;i ~~.....................irh;;; ~i2E~:::;::~~i"" .. ..........u..............iD;;;j o Refer to the Addendum which is attached and incorporated herein for additional' ortgagors, signatures and acknowledgments. (Individual) ACKNOWLEDGMENT: STATE OF ,..... '" ...........,... ".."...."........, COUNTY OF ...... ",.., ,................. "...............,.. } ss. This instrument was acknowledged bcfore me this .................,.. day of ......"....... .. .. .. " .. .. , .. .. .. . .. .. .. . . .. " .. . by ........,.........,.".".............,...........................,.........................,..............,.."............,..."..,.. . My commission expires: (Seal) ................................................................... (Notary Public) STATE OF Wn!IYI,1I)l.G...................,.............., COUNTY OF .......... ..~m........ ...... ......... ..... } ss, This instrument was acknowledged before me this ~.1.&T.........,..... day of M~Y,,~9P.1........................................ by ... ..t1M~Y. y, :r:1\~~!lM!l;.IJ!GK~.. !i.Q~~I,~~~.\YAijT!i,.l?~~JI!I\l.QMmY, f1.I\YM9J1!Q.QPM~j:.Q..,.,..... .Z..." ,.................,..,.............. (Bwinc:51!i ~("'rJ or EntIty .. . ~.r..<L~ers. .. . . .. .. . . .. , .. .. . . ..~.. .. . . .. . .. .. .. .. , , . . .. . . . . .. . .. . . .. .. . .. .. (Tllle(.)) 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