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HomeMy WebLinkAbout937453 / I reD ttl tUUtl l~;tb t'uu~/u~ti RECORDATION REQUESTED BY: BANK OF THE WEST JAQI(SON P.O. BOX 5~8 180 WEST PEARL STREET JACKSON HOLE, WY 83001 RECEIVED 3/7/2008 at 3:23 PM RECEIVING # 937453 BOOK: 689 PAGE: 96 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 000096 . WHEN RECORDED MAIL TO: BANK OF THE WEST DIRECT SEAVICING P.O. BOX 8180 NC· TRE.Q1·M WALNUT CREEK. CA 84598 SPACE ABOVE THIS LINE IS 6)R MIil:ORDER'S USE DNt Y MORTGAGE MAXIMUM LIEN. The lien of 1his Mortgage shall not exceed ., anyone time $48,546.00. THIS MORTGAGE dated March 6, 2008, Is mllde and executed between BRANDAN J WOLf/,A SINGLE PERSON. whale address i. 1658 S 54TH ST, WEST MILWAUKEE, WI 53214 (referred to below... °Gr."'or") .nd BANK'OF. THE WEST, whole addrels Is P.O. BOX 528. 1SØ WEST PEARL STREET, JACKSON HOLE, WV 83001 (referred to below as "Lender-J. ' GAANT OF MORTGAGE. For valuable aanslderatlon, Grilntor mortgagel and convev- to Lender all of Grantor', right, title, Elnd interest In and te the following d88CribEld real property, together with a/l existing or subsequently etèctsd or'afflx"d buildIng., Improvements and fixtures; 1111 eesements, rights of way, lI"d Ippu.rtenElnges; all water, water rights, watercourses and ditch rights lingluding stock In utllltlee with ditch or irrigation rightsl; and al/ other rights, royalties, and profltll relatini to the real property, including wÎ1hout limitatIon 811 minerals, oif. g8S, geothermel and similar mattei'll, (1he oReal Prøperty") loc.ted In LINCOLN, County, Stale of Wyoming: LOT TWEa.VE(12J OF ETNA VILLAGE ESTATES SUBDIVISION· PHASE 1 AS RECORDED JULY 3, 2007 AT DOCUMENT NUMB!" 930932 IN THE OFFICE OF THE CLERK, LINCOLN COUNTY, WYOMING. The Re.1 Property or Jts øddte88 is cammon'y known 118 LOT 12 ETNA VILLAGE ESTATES, ETNA, WY 83118. The Real Property tax Identification number Is 12.3519.10.1.00-141.01, Grantor prauntlV e..igns to Lend"r ell of Grantor'a right, title. and Intereet In end to all present and future lealel of the Property and all Rente from tha P!'oþerty. In addition. Grantor grllntu to !.ender a Uniform Commercial Cade lIegurlty Interest In the Personsl Property Bnd Flonta. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AIIID THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, 19 GIVEN TO SECURE (AI PAYMENT OF THE INDEBTEDNESS AND (SI PERFORMANCE OF ANY AND ALl, OBUGATlONS UNDER THE NOTE, 'tHE RELATED'DOCUMENTS, ÁND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMEN't· AND PERFORMANCE. E>wept as otherwise J)rovlded in thill Mortgage, Grantor IIhall pay to Lendør BII amounts secured by thll Mortgage IS th"y bacome due and shall strictly perform all of GrElntor'1I obllgatlone under thill MortgElge, POSSESSION AND MAINTENANCE OF THE PROPERTY, Grantor agrees that Grantor'e po"ullion Ind UIfI of tha Property IIhElII be govemed by the following provillione: Pelsseulon and Ule. Until the occurrence of an EVllnt of D"fault, Grantor may 111 remain In posGelelon and control of the PrOpllrty; 121 use, operate or mlnlge the Proparty: and (3) gollegt the Aønta from the Property. DutY to Maintain. Grantor shall maintain the Property In goOd condition and pr~mp1ly parfOIT" III rlpa;l'II. repllcements, and millintenange neca..ary to prelllrveltl value, Campßlnol With EnltlronmentGJ !.:aws. Grantor reprellentø and warrents to I.ender that: (1) During the period of Grantor's ownership of the PropertY, there hal bIen no use, genor.tlon, manufacture, storage, treatment, diøposal, release or threatened relellløe of any HazardQi,Ìe Subøtenge by Iny person on, under, about or from the Property; (2) Gl'llntor hal no knowledge of, or flllson to bell.", thlt there hall been, except III prevloulIlv dllcloeed to and acknowl.dged by Lender in writing, [a) any breach or violation of Bny Environmental LaWII. (b) Elny USII, generation, menufagture, sterage, treatment, dispolIEIl, rllle.se or threatenlld releElse of Bny Ha:!:ardoue SubatElnce on, under, Ibaut or from tha Ptoperty by any prior owne '$ or occuplllnts of the Property, or (c) any IgtUII Dr thtèatoned IitigEltion or clllml of Bny kind by any peraon rellting to such mlttOl'll1 and (31, Exolpt III' prevlouøly disglosed to and IIcknowledged by Lender In writing, (I) nalther Grantor nor any tenant. oontrÎIclOr, agent ':Ir other luthorlzed UI~8r (/f the Property shell use, sanerate, mElnufacture, Itorl, treat, diepoee of or relea:rll any HezllrdOU8 Sublltang" on, under, about or from the Property; .lId (b) anv such ectivlty shall be conducœd In compliance with all applloable federal, et8te, Elnd local lews, regulationa ,énd ordinancls, Including without limitation III Environmental Laws. Grantor authorlzls Londer and its agentl to entar upon the Property to make such InspeCtionl and taltl, It Grantor's expense. as Landor may deem appropriate to determÎne compliance Qf the P~operty with this section of the Mortgege. Any Inspection. or tssts mlde by Llndor ahall be for Lender'l purposes only and .hall not be gonlltrued to craate any rølponsibility or liability on the pert of !.end"r to Grantor or to any ather pareon. The rllpresentBt/ona Ind w8rrantÎe8 contained her.ln Itè basad on Grentor'e due diligence in investlgBt/ng the PRJperty for "'a~.rdous Substlnoes. Gra"tor hereby 111 releesos and waives Elny future c/alm. againet Lender for Indamnlty or contribution in the avent Grantor becomes Ilabla fQr cleElnup or other costa under any luch laws; and (21 agreee to indemnify, defend, and hold harmlelll /.ander ilgl!linllt any Ind III olalms, laeuee, liabilities, damaglla, þilO¡lltill8, end expenslIs which Lend.t may directly or Indirectly 8uatail'l or suffer rDsultlng from EI breach of thIs efetlon of the Mortgage or as a conllequengø of any un. goneratlon, mElnufaoture. storegl. dlspos.l, reloas. ot threatened re/eell occurtit'lo prior to GranlOr's ownerahip or interest In the Property, whither or not the saml was or ehould hsw been known to Grantor. The provieions of thlllsact/on of the M.ortgage, Î~cludlng th~ obllgnlon to indemnify and defe~d, IIhølleurvlve Feb ~8 2008 13=25 rUlu/036 MORTGAGE (Continued) 000097 Page 2 the payment of the Indebtednel'l8 and the eatisfsatlon IInd reconveyance of the /len of this Mortgage and ehall not be effeated by Lenner's acquisition of eny Intørøst In the Property, whether by foreclo_urll or òtl'letwiSè. . NUI811nce, waste. Grantor shall not cauee, aonduat or permit Iny nursenae nor commit, plrmlt, or euffer any stripping of or waIte gn gr ,tò tha Property or any portion gf the Property. WIthout limiting the generality of the foregoing, Grantor will not remove, or grflnt ta any other party the right to remove, any timber,mlnerals (Including oil end gasl. cOIl, clay, scoria, soil. gravel or rock products without Lender's prior written consent, Removal O' Improvements. Grantor shall not demolish Dr remove any Improvements from the Reel Property without Lender'a prior ·written consent. Alii a condition to the removll of any Improvements, -lender Mey require Grentor to make arrengementa satisfactory to Lender. to replece such Improvementa with Improvlments of st 18a8t IIqulIl value. . Lender'. Right to Entar. Lem er and Lender's agents and representatlvel may enter upon the Real Property It ell relsoneble timas to attend to Lender's interests and to Inepect the RIel Property for purpo,.ee of Grentor's oompllance with the terms Bnd conditions of thi. Mortgege. Compliance with Ciovlmmental Requirements. Grantor shall promptly comply with all laws. ordinllnclls, and regulation.. now or harllaftlr in effect, of all governmentelButhorltles applicable to the use or oc:cupancv of the Property. Grantor may contest in good faith any such IIIW, ordInance, or r'ègulation and withhold complience durIng any proceeding, including appropriate appøals. 80 long liS Grantor hils notHied Lender In writing prior to doing 80 and so long as, In Lender's sole opinion, Lender's Interests in the Property are not jeopardized. Lendlr mav require Grantor 10 poet adequate security or a surety bond. reesonably satisfactory to Lender. to protlct Lender's intllrest. Duty to Prolect. Grantor egrlles nelthll to abandon or lewe .unattendad the Propltrty. Grentor shall do all other acts. in addition to thoee acta ,et forth above In thla eectign, which from thl character and use of the Property are rea,onebly necessery to protect and preserve the Property. TAXES AND WENS, Thll following prøvlslonè relating to the taxes and Ilene on the Property are part of thl. Mortgeg.,: Payment. Grantor shall pay when due land in ell events prior to delinquency) all tIlXIIS, payroll taxee, speciel texes. esslluments, wllter ohargas and sewer servîoe oharges levied against or on account of the Property, and shsll pay when due all cleims for work done on or for saIVices r'èndered or meterlal furnished to the Property. Grantor IIhell meintllin the Proplrtv free of eny liens hevlng priorIty over or equel to the Interest of Lender under this Mortgage, except for those liens 8pecifically agreed to In writing by Lender, and except for tho lien of taxes and asssssments not due as further IIpsclfied in the Right to Contast paragrllph. Right to Cantelt. Grentor may withhold payment of any tax, 8seessment. or claim In connection with a good filth dliPute over the obliglltion to pay, eo long as Lender's Intlrest In the Property is not j.opardl~ed, f a lÌE," Brlses or Is filed III 8 reault of nonpayment; Grllntor shall within fifteen 11 ã days after the lien arilles or. if a I"n Is flied, within fifteen (1151 dlya after Grentgr hes notloB of the filing; eecure thø discharge of the lien, or if rllquested by Lender, deposit with Lender cash or a eufficient corporate surety bond or other security . lIetishlctory to Lender In an amount sufficient to dlschlrge the lien plus any costl and reasonable attorneys' flle8, or other cherges tl1at could accrue all I rssult of a forÐcloaure or sail under the IIln. In any contest, Grentor shllll deflnd Iteelf and Lender Bnd shall satisfy any adversa Judgment bltlore enforcament against the Property. Grantor shall nems Lender es an additional obligee under any surety bond furnillhed in the contllst proceedlngl. . Evidence of PaymPt. Grantor shell upon demand ftlrl'lleh to Lender satisfactory evidence of payment of the tax" or I"elllments Ind shall euthorioœ the appropriate governmental official to deliver to l.enåer at any time a written Itatemllnt of thl taxe. and 8nesaml,"ts against the Propartv. Notice of COnstruction. Grentor al'l.1I notify Lender at IBBSt fifteen (151 deyt before any worlc 18 com mInced, eny servlclls are furnillhed. or eny materials arll supplied to the Property, If any mechanic's lien~ materialman's lien, or ather lien could be aseerted on Bccount of the work, lIervices. or material" Grentor will upon request of Lender furnish to Lender advanclI assurences setlsfactory to Lender that Grantor . can and will pay the Cost of such Improve mente. PROPERTY DAMAGE INSURANCE. The following provjsi~ns lIiratlng to (nluring thø P~operty are a part of this Mortgage: Maintenance of Inluranos. Grantor IIhell proaure IInd maIntain policiell of fire Insurance with etandard extended ooverage endøreementa on a rltplaoement baale for the full insureble varua covering all Improvements on the Rea' Property In In IImount sufficIent to evoid eppliclltion of eny coinsurance clauee, and with a standard mortgagee cleuse in favor of Linder. Policies shill be written by .uch insursnc. companIes IInd In such form 18 may be reasonably acceptable to Lender. Grantor 8hall defive~ to Lender certlflcatee of Covereg., from eBch Inlurer contaInIng a stipulation thet coverage will not be cancelled or diminished wlthgut e minimum of ten (101 deYII' prior written notice to Lender and not conteining IIny dlsolalmer of the insurar's liability for failure to gÎve such notice, Each insurence polley 8110 shall'include en endoreemont providing that coverage in fevor of Lender will not be impeired in eny way by any act, omission or default of Grantor or eny othltr person. Should the Reel Property be locollted In en arell designated by the Director 0' the Federal Emergency Menegement Agency.. a special flood haz4lrd area. Grantor Bgrell to obtain end maintåin Federlll Flood Ineurence, if Bvallable, withIn 45 days elter notloe Is gIven by Lender that the Property II located in a epecilll flood hazard area, for the full unpllld princIpal balance of the loan Bnd oIIny prior lienll on the property lIecuring the loan, up to the mexirnum policy limits let under the NationBI Flood Insurance Progrflm. or as otherwise required by Lender. end to maIntain luch Ineuranus for the term of the loan. . Application of Pmoeed.. Grentor shall promptly. notify LInder of eny lo.s o~ damege to the Property. Lender may make proof of 10ls If Grentor fllils to do 80 within fifteen 1115) days of the calluelty. Wh~thllr or not Lender's security Is ImPJlred, Lender mey. lit Lendsr'a election, receive and rete in the proceede of any insurance and apply the proceeds to the reduction of the Indltbtednesi. payment of any lieò IIffectlng the Property. or thll restoration and repeir of the Proparty. I~ Lender elects to IIpply the procøeds to restorlltion Bnd rlÌpalr, Gran~or shall reÞair or replece the damaged or destroyed Impravament8 In a manner liatisfactory to Lender. Lender shall. upon letlsfllctOI'Y proof of such expenditure. PBY or reImburse Grantor from the prooeeds for the reaaonebllt cost of repair or restoretÎon If Grantor Is not In default under this Mortgage; Any proceeds which hive not been dlebul'8id within 1 BO daYIi after their rltcltipt IInd which Lender hall not committed to the repair or restoration of the Property shell bl l,leed fil'8t to pay IIny emount owing to Lender under this Mortgage, then to pay eccrued Interest, and the I8meirldltr, if sny. shall be applied to the. principal balance of the Indebtedness. If Lender hOlds any proceeds after payment In full· of the Indebtednllll8. such proeeøds shall ba paid to Gr.ntor as Grantor'li interests f!1ey Bppeer. LENDER'S EXPENDITURES. If Grantor fails IAI to hep the PropElrty free of III taxes, Ilan8, security Interests, encumbrances, and other claims, (a) to provide eny raqulred In8urance on the Property, or IC) to meke repairs to the Property then Lender may do 110. If any ection or proceeding is commenoed that would materially affect Lendltr's interests In the Property, then Lendør on Grantor's behalf may. but Is not reQuired to. teka any actlQn that Lender bllllevlIs to be apptopriete to protect Lender's intltre&ts. All expenslls Incurred or paid by Lender far :/ Fcb 28 2008 13:25 P011/036 MORTGAGE (Continued) 000098 Page 3 lIuch purpolles will then bear Interert .t the rate charged under the Nate from thl date Incurred or peld by Lender to the data of repayment by O...ntor. Allluch Ixpenles will beaome a Pfrt of the IndebtednaBs and, et Lender'l·optlon, will (A) be peYlble on demand; (B) be .dded to the b.lance of the NotEI end be apportioned among Ind be paYlble with any Installment payments to be~ome due during aithar (1) the term of any applicable insurançe policy;· or (2) thl! remaining term of the Note; or (C) ,be treated ei I bllloon payment which will be due and payable at the Note'e maturity. The Mortgage also will secure payinBnt of the.. amounts. The rights provided for in thil plregrlph shall be In .ddltion to any other righta or IIny remediAl to which Lender may bl entitled on account 'of Iny default. Any euch Ictlon by Lender shall nDt btI construed '1 curing the deflult so as to bar Lender from any remedy that it otherwise would have had. WARRANTY¡ DEFENsE OF TInE. The following provisions relating to ownership of thB Property are I part of this Mongage: 11tll. Grantor warrants that: la) Grantor holds good end marketable tItIl of record to the Property in fee simple, free and clear of IIIUMS ,. 'l"Id encumbrance. ather than thoee let forth in the Real Pr~rtv delcription or in any title Insurance policy, titla I'8pon, or final title oplnl!?n 'eeued in favor of, and accepted bV, Lendllr in connection with thil Mortgage, and Ib) G...ntor hie the full right, power, and ButhOrlty ~o executa Bnd deliver thil Mortglga to Lender. ' . Detenee of r.ø., Subject to lhø exoePtlon,ln the paragraph above', Grantor warrantl Ind will forever døfend the title to the Property againit the lawful claims of all persons. In the event any action or prccaødlng II commenced that questions Grantor's title or the intsrest of Lender under this Mongage, Grantor ehall defend the aotlon .t Grantor's expense. Grantor m,y be the nominal party in suoh proceldlng, but Lender shall be entitled to participate in the procllldlng and to be represented In !hI proceeding by coun'lIl of Lender'!: own choice, and Grantor will deliver, or cause to bø clallvered, to Lender such Instrumente 118 Lender may request from time to time to permit such partlolpatlon. ' Complianc:. Willi Law., Grantor warrants that the Property and Grantor's use of the Property complies with III existing eppllcable lawl, ordinances, and I'I!Ipulations of governmental authorltiee, ' Survival of PromÎ8ee. All promises, agl'l!le",ent;, and statements Grantor hIs mlde in thill Mongage shall survive the execution and delivery of this Mortgage, shall be c:ontlnulng In nlture and shall remain In full force and effeot until luch time Ie Grantor's Indebtedness II paid In full, CONDEMNATION. The following provilions relating to condemnation proceedings .ra a part of this Mortgage: ' Proell.dlngs. If .ny proceeding In condemnation Ie filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take such steps as may be necessary to defend the aotlon Ind obtain the award. Grlntor may be the nominal plrty In such proceeding, but Lender ,h.1I be IIntitled to partlolpate In the pfoceeding end to be røprnented in the procelldlng by oounsel of Its own choa, and Grantor will deliver or cause to be delivered to Lender such Instrument!: and documentation 81 may be røquestCId by Lender from time to time to permit such participation. ApplkIatIon of Net Proceeds, If all or any pan of the Property is condemned by eminent domlin proceedings or by IIny proceeding or purahu. In lieu of condemnation, Linder may It itll election require thlt al/ or any portion of the net prOClleda of the eward be applied to the Indebtedness or the røpølr or restoration of- the Propøny. The net proceeds of the award Ih.II mean the .ward after payment of all ressonable castll, øxp.n.Ø8, ,nd attorneys' flleslnourred by Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHAMBES BY GOVERNMENTAL AUTHDRlTIES. The following provisions relating to governmental tÞeB, feae and charges are ø Plrt of this Mongage: Current Taxell, Fees and Charg.., Upon request by Lender, Grantor shall execute such document' In Iddition to this Mongage Bnd take whatever other action III requested by Lender to perfect and contInue Lender's lien on the Relll Property, Grantor Bhslf reimburse Løndllr for III taxes, al delcrlbed below, together with all expllnses incurred in recording. perfectIng or continuing this Mongage, InQludlng without limItation all tax.., feee, documentary stemps, and other chlil!'Ð~s for recording or.røgl8terlng thll Mortgage. ' TaxBs. "'e following shall constituta taus to which this Illation applies: 111 I lpeclflc tex upon this type of Mortgage or upon III or any part of the IndebtednelS leoured by this Mortgage; (2) ·a speclflo tlx on Grantor which Grenmr Is authorized or requll1ld to deduct from paymentll on the Indebtadness secured by this type of Mangagl; (3) I tax on this type of Mortgage ohargeable againllt the Lender or the holder of the NotEl; and (4) a ¡pecific tax on all or any portion of the Indebtedness or 01'1 payments of principal and Interest made by Grentor. SubsllC U.nt Taxel. If sny tlX to which this section applies is enactad subsequent to the dlte of this Mortgage, this event shall hsve the same effect ae In Event of Default, and L.ender may IIxsrcise any or all of It, av.illble remedies for an Event Qf Default all provided below unless Grantor eithllr It I paye the tax before It bøcome. dellnqu,nt, or (2) contlsU the t,x 81 providlld Ibovø In thø Taxøs Ind Uenl eection and deposits wIth Lender clsh or a sufficient corporate Gurety bond or other sBcurlty latlsfactory to Lende,r. SECURITY AQREEMENT¡ FINANCING STATEMENTS. The following provisions rel't/ng to thil Mortgage as aSBourlty ,grGGment Ire a part of thle Mortgage: ' Security Allreement. Thle Instrumsnt shell constltutø II SII(!urlty Agreemllnt to the extønt any af the Propllrty constitutes fixtures, and Lender Ihall have aU of the rights of B sBcured ~rty under the Unliorm Commercial CoØe 811 amended from time to ttme, SecIJrity Intereet, Upon raqulIst by Lender, Grantor shell takø whatever ection is requested by Lender to þi)rfect Ind contÎnue Lender's security IntanJst in the Personal Property, In Iddition to recording thle MOl'tglge in the rllal property I'I!Icorde, Lender may, at any time and without further lutharlzatJon from Grantor, file exeouted countarþarw, copiel or reproductions of thle Mortgage all e financing statem.nt. Grantor shall reimburse Lender for all expenses incurred In pelWctll"lg or continuing this security ,Interest. Upon default, Grlnmr shell not remow, sever or døtach the Perional Property from thl Property, Upon default, Grantor shlllle,ernble any Perllonal Propeny not affixed to the Property În a manner ønd .t a pl~oe reasonably convenient to Grantor and Lender and make It IIvlllable to Lender within three 131 deye itter receipt of written dem~nd from Lender to. the øxtent permitted by applicableløw. Addrelella, The mailing addrllsees of Grantor (debtor) and Lønder (eecured party) f~om which Information conceming the security interest grtlnted by this Mongagø may bè obtiined (eech as requIred bV the Uniform Commercial Code) lire a8 stated on 1he first page of this Mortgagl. FURTHER ASSURANCES; ATTORNEY-IN·FACT, The following provisIons relating to further allurBnces and attorney-in-fact are a pan of thl~ Mortgage: Further Alsurancø8. At any time, and from tlmll to time, upon requllt of Lender, Grantor will make, execute and deliver, or will olluse to Fcb 28 2008 13;25 rUI£/036 MORTGAGE (Continued) ú00099 Pllge 4 be mllde, executed or delivered, to Lender or to Lender's designee, and when IIIque8ted by Lender, cause to bø 1110(1, recorded, refiled, or rerecorded, as the clI.e mey be, Bt such tlrT1e& and In such offices Bnd places Ie Lender mey deem IIppraprlate, any and ,all ,uch mortgllgeø, de.de of ttu,t, security deeds, slIcurJtv agreements, financing st8temen18, Continuation atltements, Instruments of further assuranCe, certlflcatlls, and other documentlliIs may, In the sole opinion of Lender, be necesse'ry or deslrliIble In ord.r to effectuatv, complete, perfect, continue, or preserve (11 ar.ntDl's obligations under the Nate, this MortgliIge, IInd the Related Documenw, and (2) the Ilene and security Intereet8 creeted by this Mortgage 8s first end prIor liens an the Property, whether now owned or hel1lefter aoqulnJ(f by Grlntor. Unless prohibited by law or Lender 8grees to the aontrary In writing, Grentor shall relmburee Lllnder for 1111 COlts and expeneell incurred in connection with the matters referred to in thie pSTIIgraph. AUDmay.Jn-Faot. If Grantor fails t,o do any of the things refllrred to In thll preceding peregraph, Landllr may do so for end In the naml! of Grantor IIInd at Grantor's, expense, For euch purposes, Grantor hereby irrevocably eppolnte Lendet 8s Grantor's a!torney..ln-fact for the purpose of making, executing, delivering, filing. recordIng, and doing, all ~ther things ae may be necesS8ry or desirable, In Lender'. sole opinion, to accomplish the mittel'll referred to In tl1e preceding paragraph. ' FULL PERFORMANCE. If Grentor pays all the Indebtedness whan due, end otherwise performs all the obUgations imposed upon Grantor under this Mortgage, Lendar shliIlI execute Ind deliver to Grantor a sultlble aetisfactÎon of thll Mortgage end luÎtflble statementa of terminetion of any finanolng statement on file evidencing Lender', security Interllst In the Rents Bnd the Pereonal Property. Grantor will pay, if permitted by appl çable law, any l1Ia8anable terminetion fell as determined by Lender from time to time, EVENTS OF DEFAULT. At Lender's aptian, Grantor will be in default under !hIli Mortgage if eny of the following happen: Paym.n~ Default. Grantor falls to make any paymllnt when due under the Indebtedness. Deflult on Other Peyments. Failure of Grenter within tho f/me required by this Mortgage 'to make any peyment for taxIS or Insurance, or any other payment neceesary to prevent filing of or to effect discharge of eny lion. '.: Break Other Promises, Grentor breaks any promise mede to Lander or fllle to Þerform promptly at the time Ind strictly in the manner provided In this Mortgage or In any agreement reletlld to this Mortgage. Fal.e Statlmenta. Any r.prellentatltln or ststement made or fumlehed to Lender by Grantor or on Grentor's behlllf under thllI Mortgage or thll Relllted Documents Is false or misleading in any mBtar(al respect, either now or at the time made or furnished. DefeGtJve Call1lterallzatlon, This Mortgllge or eny of the Relatlld Documents ceaee. to be in full force and effect (including fllilure of any collaterel documant to create a valid and perfactlld eecurity interest or lian) at any,tlo,e end for any rellson. Death or Insolvency, The death of Grantor, the Instllvency of GTllntor, the appointment of e recBlver for any part of Grantor's propertY, any anlgnment for the benefit of creditora, eny type of Dredltar workout, or the coininfll)cement ef any proceeding under any bankruptcy or Insolvency Jews by or IIgalnst Grantor. TliIlclng of the Property. Any arDdltar or governmllntlll agenoy trlu to take any of the Property or any other of Grentor's property In which Lender hlUl e lien. This Includell taklntJ" of, garnishing of or levyIng on Grentor's aocounts wIth Lender. However, If Grantor dleputes in good faith whather the claim on which the taking of the Property is based III vl,llld or reasonable, Bnd if Grantor glvee Lender written notIce of the claim and furniehell Lender with monlllS or a surety bond satisfactory to Lender ~o satisfy the claim, then thie default provision will not apply, Breach of Other Agreement. Any breeoh by Grantor under the terms of any othar agreement between GrliIntor Bnd Lender thet is net remedied within IIny graoe period providlld thlneln. Including without limltetion any agrllement concerning IIny Indabtedne'8 or other abllgation of Grantor to Lsnder, whether eldstlng now or later, IiV81'rt1 Affecting Gumnlor. Any of the preceding events, Occurll wi'th respect to any guarantor, endorser, lurety, or Iccommodation party of eny of the Indebtednelll or eny guarantor, endorser, surllty, or accommodation party dies or becomee incompetent. gr revokss or dillputes the validity af, or lIebility under, any Guaranty of the Indebtedness. RIGHTS AND REMEDIES ON DEFAULT. Upon thll OQcurrence of an Event of Default and at eny tÎme thera8ftor, Lender, et Lender's option, may exerolse anyone or mora of the following rlghta end nrmedies, In addition to any other rightl or remedlee pro'Vidlld by law: Accelllrate Indebtlldnesl. Lender shall have tha right lit Ita option without notlclI to Grantor to declare the entire Indllbtednees immediately due and payable, Including eny prepayment penalty thet Grentor would be required to pey. UCC Remedlell. With respect to all or IIny part of the Personal Property, Lender shall havo all the rights and remedies of a secured party under the Uniform Commercial Code, . CoIleat Renta. Lender shall have the right, without notice to Grentor. to take pOIGesslon of the Property, Incllldlng during the pendenoy of ftlrllclosure, whllther JudIcial or non-judiolal, and collect the Rants. Including amounts pllst due and unpaid, and apply the net proceeds, over end IIbove Lender'e costs, against the Indebteclnllsll. In furtherance of this right, Lender may require any tenant or other user of the Property to mIke Þ&yn1ents of rant or use fees directly to Lendllr. If the Rents ere oollected by Lender, then Grllntor IrrevoCllbly designates Lender as Grantor's attorney-In-fact to Gndorsll Instrumllnte received in payment thereof in thll name of Grantar end to negtltiete the sams and collect the prooeeds. Pllvmente by tanBnts ar other ueerll to Lender In r.lponee to Lender's demand shllll satiety ths obligations for whloh the payments are made. wheth.r or not any proper grounds for the d",mand existed. Lender mey eXllrcise Its rights under thi" lIubpElragraph eIther In peraon, by 8gent, or through II receiver., ' , , AppoInt Rll:ew"" Lender shell have thl right to hlye a rllcelvlllr apPQlnted to teke posllesslon af all or any pert of the Property, wIth the power to protect and preserve the Property, to operate the Property preoadlng foreclosure or sele, and to collllct the Rents from the Property and epply the prOO8ede, over end above the cast of the receivllrship, Bgalnlt the Indebtedness. The receiver may 8eM wlthtlut bond if permitted by law. Lender'e right to the appointment of a I'8ceiver shall Ixllt whether or not tha apparent value of the Þroperty exeeled. the Indebtedness by a lubllt.ntial IiImount. Employment by I.ender shall riot disqualify a pareon from serving ala TIIoelver, JudiGiaI Foreclosure. l.ender may obtain a Judicial decree fOl'8oloslng Grantor'lI Interest in all Dr any psrt of the Prtlperty. Nonjudicial Sale. Lender may foreclosa Grentor'e Interest in all or In any part of the Property by non-judlclll eale, and specifically by "power of Bile" or "advertisement and aal." foreclosure lIS provIded by ,teMe. Dllffolency Judgmlnt. If permItted by eppllcablll law, Lender may obtain a Judgment for any deflclllncy IIImllnln9 in tha Indebtednels dUll to Lender after BppllClltlon of all emounts reclllved from the exercise of the rIghts provided in this sectlan. Fcb 28 2008 13:25 P013/036 MORTGAGE (Continued) 0001.00 P8ge 5 :=-- TentllnGY It Sufferenae. If Grantor rem~ln$ in POlllllllion of the PropertY efter the Property Is sold al provided above or Lend.r otherwIse becomes entitled to polSesslon of the Property upgn default of Grantor, Grentor shell bec;gme a tenant lit 8ufferance of Lender or ~II purchaser of the Propeny and shall, at Lender'lI option, either 111 pay I rea,onabls rsntll for the usa of the Property, or 121 vaclte the Property Immediately upon the demand of Lender. Other Remedlel. Lender .hall have ell other rlghtfJ IIInd ramsdies provldld In tille Mortgagl gr the Note or IlVallable It lew gr In equIty. Sale of thl Property. To the extent permitted by ippllcable law, Gr.ntor hllreby waives any and 1111 right to have the Prgpsrty marshalled. In IIxercislng Its rights and remedies, Lender shall be frea to lell III or any part of the PropBny together or laparately, in OnA ..Ie or by laperate sllee. Lsnder shall be entitled to bid at eny public IIle on all or eny portion of the Propurty. ' Notia of 88... Lender will give Grantor rllason,ble notict of the time 8nd place of any publia lale of the Pereonal Propurty or of the tlmB eftur which any private IIIla gr gther Intended dlspoaition of the Personal Property il to be mada. R.a,onable ngtice, shall melln notIce given It least ten (101 days before the time of thesalø or dlspoeltlon, Any slle of the Personal Property mey be mads In çonJunctlon with any eale of the Real Property, ' Election of Remedies. All of Lender', rights end remedies will be cumulatÌ'(1 and may be exerçleed alan. or together. An e/eQtton by Lender to Chgglellny Dna rem.dy will not bar Lender from using any other rlmelly. If Lender decldel tg Ipend money or to perform any of Grentor's obligations under this Mgrtgage, 8fter Grantor'lI failure to do 10, thillt deci,ion by Lsnder will not affect Lender's right to deel/ilrB Grantgr In default and tò eXi!lrçise Lender's r.m.dlee. Attameya' Fe.e: Elcpenlllllh If Lender Institute. any lIuit or IIction to enforçe anv of thu terms of this Mortgage, Lender shall be entitled to recover such .um as the court may IdJudge realgnable as attorneys' fe.. It trial and upon anyapp.,I, Whether gr ngt Iny court action Ie Involved, end 10 the elrtent not prohibited by law, ell rellonablll 8xpen... Lender incurs that In Lender'e opinig.n ere nllGBS8Bry at any time for the protection gf its Interest or the enforcumBnt of itl rlghtll ehall becomB e pan of the Indebtednelll payeble gn dBmand and shill bear IntarBst al the Note ratu from thÐ date of the expenditure until repaid. Expenses covered by thle paragraph include, without limItation, however eubject to Bny limit. under applicablellw, Lender'. reò!l,onablu attomeys' feu and Lender',legalexpenses whether or not th.r. Is a lawsuIt, including reasonable attomaYlI' f8es Bnd expenses for bankruptcy proceedings IIncluding tffons to modify or vacate any automltic stay or InJunction), appeals, and any øntlcl )ated poat-judgmant colleçtlon .el\lio8ll. the cost of searching records, obteining titla reports lincludlng foreclollurs reportsl, surveyor,' reports, end epprallul feel and title inlurence, to the Bxtent permitted by applicllble law. Grantor Ileo will pay any court oosts, In addition to ell other sums provided by 8W. NOTICES. Any notia requIred to be given under this MortgBge, IncludIng without IimitBtlon any notice of default and any notice of eele 8hall be given in wñtinlil, and Ihall be effective when actuallv delivet'8d, when actually received by tslafacaimÎls (unlass otherwlee required by lawl. when deposited with e nationally recognized ovemlght courier, or. if mailad, when deposittd in the United Stat88 mall, all firlt class, oenlflød o't registered mall poatage prepaid, dlrectlild to the addresses shown nelr the beginning of this Monglge. All copies of notices of foreclosure from the holder of any lien which has prIority over this Mortgage shall be 8ent to Lendur's addrø$8, as 8hown naar the beginning of 1hle Mortgege. Any þerllon m8y chango his or her address for notices under this Mortgllge by giving formal written notice to the other purson or persons, epeclfying that the purpOGII of the noticu Is to ehangll1he þerson's address. I=or notice purposes. Grantor alill'HS to keep Lender informed at all times of Grantor', current eddrell. Unl.., otherwiet provided or required by law, if there is mora than one Grantor, any ngtiee given by Lender to any Grantor [e deemed to ba noticB given to all Grantors. It will ba Grlntor'. responsibility to te/l the other. gf the notice from Lender. MISCELLANEOUS PROVISIONS. ' The following miscullllneous provl.lon. art a pllrt of this Mortglgel Amendmlntø. What il written in this Mortgage and in the RelBted Documenta il Grantgr's entire agre.ment with Lsndar concerning the matters Doverod by tilil Mortgage. To bll otfoctlve, any change or amendment to thill Mortgage must be In writing and, mUlt be signed by whoever will be bgund or obligated ,by the change gr amendment. Caption Headings. Clption headIngs In this Mortgage arB for convenience purposes only and are not to be ulad to interpret or define the provision, of ful. Mortgaga. Governing Law. Thi. Mortgage will be govlrned by ftderallaw appDaab[e to Lender and, to thll extent not prHm )ttd by feden'll law, the lawlI of the state at Wyoming without regard to Itl conflicts of law provlslonl. Thill Mortglga has be.n BCC~ød by Lendør In the State of WyomIng. No Wlllvet' by Lender. Grantor undenitands Lender will not 'give up any of Lendar's rights under this Mortgage unlln Lender doas Sg in writing. The feet that Lønder delay¡ or omits tQ eXllrcllG any right wiU not mBan that Lender hall glvan up that right. If Lender dOlls egree in writing to give up on8 of Lunder's rIghts, that doell not mIen Grantor will not havl to comply with tho other provieigns of this Mortgege, Grantor also understands thet if Lendar doe. conuent to e request, that does not muen that Grantor will not have to get Lender's con88nt again If the eituatign hlppens øgaln. Grantor further understands that just becausB Lender conlJentl to one or more of Grantor'e raqUtlsts. that doea not meln Lendør will be I'8quired to aonSClnt to .ny of Grentor's future r,que'tll. Grantor walvas presentment, demand for paymunt. protest, Ind notio. of dishonor. Gra~or waive, all rights of øxemptlon.from eXllcution or similar IIW In the Property, Bnd Grantor agreus that the right' of Lender in tha Property under thill Mortgage ere prior to Orantor'lI rights while this Mortg,ge remains in effeat. . Severability. If a Court finds that any provhdon of this Mortgage II not valid IIr IIhguld nDt be enforced; that feet by itself will, not mGan that the rest of thle Mortgage will J: gt be valle! or enforced. Therefore. a court will enforce the rest of tha provlllions of this Mortgage even If a provlaion of thill Mortgage mey bl found to be tnvllld or unønforce.ebJe. M8I'g,r. Tharll shill be no merger of the interest or eltBte creøted bV this Mortgage' with any other interest or estate In the ProportY at eny time held by Dr fllr thu benefit of Lendor In aliy capacity. WlthDut the written conlluni gf Lender. Succe..ors and AllIgnl. Subject to any limitlltlons Itated In thlll Mortgage on trllnsfer of Or8ntor'lI intsrest. this Mortgage Ihò!lll be binding upon ,nd inure to the benefit of the þlrtiell, their sucoessor, and .,silJllII. If ownllrshlp of the Property beoomel vlllted In II pereon other than Grentor, Lender, without notloe to Grantor, may deal with Grantor's succoeeors with ruferenae to this Mongage and tha Indebtedness by wey gf forbeerance or e)(tensilln without rllleøllln9 Grantor from the obllgøtlonl of this Mortgage or liabilitY under the Indubtadnesl. Time Ï8 of the EIIenca. Time is gf the eSlllnce In the performance of this Mortgage. WaIver of HomeBtllad ExlmptlDn. Grantor hl!lfllbv releues and walv8& all ri JhtIJ Ilnd benefits of thÐ homestsl!ld lilxemptlon laws of tho State of Wyoming as to all Indebtedness sBcurad by this Mortgage. DEFlNmONS. Tho following wgrds shall have the following muanings when ueee! In thill MgrtlilalilB: 1t Feb 28 2008 13:25 rUIII/036 MORTGAGE (Continued) OOOj.01. Page 6 Borrow.r. The wcrd "Borrower" IMllnS BRANDAN J WOLF and includlls 1111 co-signers and co-makerv signing the Note and all their succesaors and assigns. Envlranmlntal Law.. The word, ·Envlroiunøntal Lawe" mean any and all state, federal end local statutls, regulatlonl end ordlnllnces relating to the prowetion of human health or tha environment, IncludIng without limItation the Comprehensive Environmental Reapon.e. Compenaation, and Liability Act of 1980, as amandad, 42 U,S.C. Saction 9601, et eeq, I"CERCLA"I. tha Suplrfund Amendments and Re8uthorlzatlon Act of 1988, Pub. L. No. 99-499 ["SARA"). the Hazardous Materialll Transponatlon Act, 49 U,S.C. SlIation 1801, at søq., the Resource Coneervation and Recovery Act, 42 U.S:C. SlIctlon 6£101, et IIIq., or other apPlicable l18tll or federal lews, rulee, or rlguratlone edoptwd pursuant thereto, Evlnt of Default. Thll words "Evant of Default" mean sny of tha events of default let forth În this Mongage In the events of dllfault sect/on of thle Mörtgaga. Grantor. The word "Grantor" meane BRANDAN J WOLF. Guaranty. The word "Guaranty" mllllns tha guaranty from guarentor, endorsar, surety, or accommodation party to Lender, includi'19 without limitation II guarlnty of all or part of t~e Note, Ha~rdou. SUb,taneal. The word. -Ha:l:lrdOIJII Substances· mean materials that. bacause of their quantity, concentration or phYllaal, chemical or infeatlous characterlstlce, may Cluse or pose a prlls"nt or potential hazard to human health or the environment when improperly used, trelltlld, ¡tared, dilposed of, generated, manufactured, transportlld or otherwia8 handled., The words "Hazardous Substances" afe used In their wry broadest sense and Include without limitation any and .11 l1azardoulI or toxio substances, materiels or waste as deflnlld by or listed under tha Environmental LaWI. The term "Hazardoua Substances" also ¡ncludas. without limitation, pltrolaum and petroleum by-producta or any frIction thllr&of IInd labeatol. Improvamlnts. The word "Improvements" m.ans aJlexlstlng and future improvements, buildings, etructUr8a, mobile homes affixed on the RIal Property. facilities, add/tlona, replacements and othllr conetruction on the Real Property. Indabtednlls. The word "Indebtedness" means 1111 principal, interest, and athllr amounts, costl end expenses payable under the Notl or Flelated Documlnts. together With aU renewlll of, extensions of, modifIcations of, consolidation. of and sublltitutions for the Nots or Rllllllted Documentlllnd any amounte expended or advanced by Linder to dillcharge Grantor's obllglltlon, or e)(pensel incurred by Lendlr to enforoa Grantor's obllgllltlon. under this Martgess, together with interest on such amounte Ie provided in this Mongagl. Lender. The word "Lender" meens BANK OF THE WEST, its successors and 8881gnll. The words nSUCCISGOrG or ae.ignll" mean any plrlon or company that Icqulrøs any Interellt in the Note. MonØlGe. The word "Mortg.ge" mean. thill Mortgage batween '3rall1Or and Lender. Nota. The word 'Note~ melne tha promissory note døted March 6, 2008, in the Drlglno.l principal amount Df $48.&46.00 from Grantor to lender. tQgether with all renew", of, extensions of, modlfIcatlonl/ of, refinencings of. consolldatlonl/ of, .nd eubstitutions for the promlllll)ry nota or egreament. The matu~lty datlll of this Mortgllge Is Mlrch 1 4, 2033. Peraonal Property. Tha words "PersClnal Property" maliln /il1I equlpmant, fixture., and other articles of personal property now or hare/ilfter owned by Grantor, and now or hereafter attechad or øffixed to the Raal PropørtV: together with all aeeeeeianl, p8rts, end Iddltlons to, all raplacementl of, and all substltutlone for, eny of such propertyl an~ together with all proC8lds IInQludlng without limitation all Insuranee proceeds and rlfunds of premium II) from Iny sailor other dlspoeltion of the Property. ' Property. The word "Property" means collectively the Real Propllrty 'end the PllrGanal Property. Reel Property. TI'Ie wordll "Reel Property" mean the real property, interasts and rlghtll, 811 further described In thle Mortgege. Related Documants. ,The worde "Rellted Documents" mlan .11 pramilllory notes, credit 8 Jreements, loan agreements, environmental IIgreemsnu. guafllntlss, BBcur ty agreements, mortgagøs, deeds ,of trullt. B~curity daads, collateral mortgages. and all other Instruments, Bgreements and documents, whether naw or hereafter existing, executed In ~onnectlon with the Indebtedness. Rlnts. The word "Rents· means all prlllent and future rents, ravenUIII, Income, illlues. rovelties, profltl, and other benefrts derived frDm tha ProPIII'ty. GRANTOR ACKNOWLIiDGES HAVING RI!!AD ALL THE PROVISIONS OF THIS MORTGAGE, AND GRANTOR AGREES '1'0 ITS TERMS. GRANTOR; x~tai / ( Feb 28 2008 13;25 MORTGAGE (Continued) 0001.02 INDIVIDUAL ACKNOWLEDGMENT STATE OF "'./\ 5 c..o ~ oS ,'"v ~. ) 188 ) ALLEN L. SM1GUN Notary Public State of Wisconsin COUNTY OF WACA.¥o,.l1~"'" P015/036 P,ge 7 .",.., ". On this day before me. the undersigned Notery Public, personallv IIppeered BRAND J WOLF, to me known to be the Indiviclval described In .nd who e~ecuted the Mortglge, and acknowledged th.t he or IIhe signed the Mortgage 118 his or her frBe Bnd voluntary Bet Bnd deed, for thl usel Bnd pUrpOSe8 therein mentIoned. , ¡-to ,) calven .r my hand and aftIG IleBI thle'" d., of MA--..c.M- . 20 . , By RAiding lit W~\M(.~~4- ~i WI )C-.)J ,,j My aommllelon 8xpir18 'I' ~ /. ~ LASER PRO Lending, Ver. 5.99.00.008 Copr. Herland Financial Solutionll. Ing. 1897. 2008. All Rights Reserved. . WY C:\CFI\LP1.\G03.FC TR-3427998 PR-1715 .,.