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938458
RECEIVED 4/24/2008 at 12:45 PM RECEIVING # 938458 BOOK: 692 PAGE: 686 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY "NOTE: THIS SERVES TO CORRECT THE MORTGAGE AMOUNT ON THAT CERTAIN MORTGAGE RECORDED ON JULY 05, 2007 IN BOOK I 644, PAGE U 544, INSTRUMENT H 930966." 000686 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 07.02.2007 are as follows: and the parties and their addresses MORTGAGOR: BRENT DEll SCHWAB; DAVID W. SCHWAB; PATTI J. SCHWAB, AS JOINT TENANTS 61 HWY 241 AFTON,WY 83110 o Refer to the Addendum which is attached and incorporated herein for additional Mortgagors. LENDER: THE BANK OF STAR VALLEY ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF WYOMING 384 WASHINGTON STREET PO BOX 8007 AFTON, WY 83110 ./ 2. MORTGAGE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (hereafter defined), Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property: SEE EXHIBIT 'A' ATTATCHED HERE TO AND MADE A PART HERE OF The property is located in LINCOLN at 1363 HWY 239 (County) , FREEDOM , Wyoming 83120 (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 time in 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. WYOMING . AGRICULTURAL/COMMERCIAL REAL ESTATE SECURITY INSTRUMENT (NOT FOR FNMA. FHlMC. FHA OR VA USE. ANO NOT FOR CONSUMER PURPOSES), (page 1 of 8) ~ ©1993. 2001 Bankers Systems, Inc,. St, Cloud. MN Form AGCO-RESI-WY 1/16/2003 000687 3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this Mortgage at anyone time shall not exceed $ 220.982.00 . 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. Nothing in this Mortgage, however, shall constitute a commitment to make additional or future loans or advances in any 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(ies) or other evidence of debt described below and all extensions, renewals, modifications or substitutions. (When referencing the debts below it is suggested that you include items such as borrowers' names and addresses, note principal amounts, commercial revolving loan agreement's maximum amount, interest rates, variable rate terms, maturity dates, etc.) ONE PROMISSORY NOTE DATE 07/02/07 IN THE AMOUNT OF $220,982.00 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, but 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. CLAIMS 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 futurf:! advances i.lnder any note or agreement secured by, the other mortgage, deed of trust or security agreement unless U:inder 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. (page 2 of 8) ~ © 1993, 2001 Bankers Systems. Ine,. st, Cloud. MN Form AGCO-REsl-WY 1/16/2003 " 03/19/2E :40 3078850002 \NK OF STAR VALLEY - 11/17 000688 3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Saol.lred Oab'!; Iheroafter defined) ~eol.lrad by this Mortgage at any ons time shall not exceed $ 220.98200 . Thì$ limitation of amount doa$ not include Interest. loan oharges, oommitment fess, brokerage commissions, attorneys' fees and other charges validly made pur$uant to this Mortgage and does not aþþly to advanoes lor intsrest accrued on such advances) made under the terms of this Mortgage to protect Lendar;s seourity al'1d to perform any of the covenants contained in thi$ Mortgage. Future advanc8$ are contemplated and, along with other future oblig.rtions, arlil sscured by this Mortgage even though all or part may not yet be advanced. Nothing in this Mortgage, however, shall constitute a commitment to make additional or future loans or advances in any 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, ,he following: A. The promissory note(s), contract(s), guaramy(ies) or other evidence of debt described below and all extension.\!, renewals, modifications or substitution.\!. (When fr;fœrencin'1 the debts below it i$ suggested that you include item$ such as borrowers' names ¡¡¡nd address12s, noro princIpal amounts, commercial revolving loan agreement's maximum amount. interest retes, variable rate térm$, maturIty dates, etc.) ONE PROMISSORY NOTE DATE 07/0:zr07IN THE AMOUNT OF ~220,9B2.00 6. All future advances from Lender to Mortgagor or other future obligations of Ma"gagor to. Lender, under any, promÎ&sory note, contract, guaranty, or other evidence of debt exístìng now or eX$cuted' 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 exi$t or may later arise. to the extent not prohib.ít~d by law, including, but not limited to. liabilities for overdrafts relating to any deposit account agrQem~~~ between. Mortgagor and Lender. " , D. All additional sums adVanced and expenses inourred by Lender for insl.lring, preserving or otherwise protecting the Property and its valuEI and any othElr sums advanced and expenses incurred by Lender under the terms of this Mortgage., plus interest at the highest rate in effect, from time to time, es provided in the Evidence of Debt. E. Mortgagor's performance under the terms of any instrument evidencing EI debt by Mortgagor to I.ender and any Mortgaga securing, guarantying, or otherwise relating to the debt. If more thAh one par!lon Sligns this Mortg91',]Q as Mortgagor, QQch Mortgaaor agrees tha1 this MortgagF! wíll ",aClura ell fUTure advances and future oblioatlons de5Gribed above thAt are Cliven to or inr:\lJrr~d bv anv on~ or more Mnrtmmor. or ahY ons or morEl Mortgagor and -others. This Mortgage will not secure any other debt if Lend~r fails, wíth respect to such ott,P.f rlF!ht, tn ml'!ke I'!ny ret!I.irp.d di!'lcln!lurl'! abOllt thi!'l Morrgl'Jae or if lannAr fAil", TO ,:!Î\/A ~ny fA<"!IIÎrAt"( nnti~p. of the daht of rescission. 5. PAYMENTS. Mortgagor agrees to make all payments Oh the Secured Debt when due and in aocordence with the terms of the Evidence of Debt or this Mortg.!!gs. S. CLAIMS AGAINST TITLE. Mortgagor will pay all taxe$, assessments, liens, enoumbreooes, lease payments. ground rents. utilities. and other charges relating to the Property when due. Lender mav require Mortç¡agor to provide to Lender copies of all notices that suah amounts are due and the receipts evidencing Mortgagor's payment. Mortgago('will defend titl !) to the Prooerty aaainst any claims that would impair the lien of this Mortgage. Mortgagor / !Jr~es to aMign to Lsnder, as rsql.lested by lendør, any rights, claims or defens/:)$ which Mortgagor m:ay have against parties II\;'ho supply l'Ih(lr nt l11'1t~ri'll~ 1:1) imrrnl/p' N fï\Airtt...¡", thp. Prnr"'rtv . :~:..': ! 7. PRIOR SECURITY INTERESTS. With regard to any other mongage, deed of trust, smcurity agreement cr"'other lìen dooument that created a prior security interest or enQumbrancm on the Property and that may have priority over thi$ Mortgage, Mortgagor agree.\!: A. To make all payments when due and to perform or comply with all covenants. B. To promptlv deliver to Lender any notices that Mortgager receives from the holder. C. Not to maKe or perm '[ any rnoàiÙcaÜon or extensIOn or, ana not to request or accept any future advances under any note or aqreement secured by, the other mortaaoe. dllad of trust or i'11!1C1lritv ~('!fA~m"''1t nnle!':!<: I enrJer consents in writing. a. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately dUIII and payable upon the crea110n of any lien, enoumbrance, transfer, or sale, or contract for any of the$e on the Property, However, if the Property includes Mortgagor's re1Jidence, this section shall be subject to the restrictiohs Îmoosed bv federal law 112- C. F.R. 5911. as l' onlicabl4!!, For tn9 rlurl"ll"l.<\I\I!': ...f t"¡", 'IAMi...", tl;... t..rm npr"'l'I~ftv" .,"on ¡nólUQes a~y in11!1rest to all or Itny part of the pròperty. This covenant shall run wí1h thèProperty ~nd shaÎl r~main in effact until tha Secured Dabt is paid in full and thì$ Mortgage is released. ~ If¡) '993, 2001 Bonk.,. $yot.me, In.., Gt. Cloud. MM Form AGCO·l'lliSI.WV 1I1B/~OO~ ~« (/A fpøgfJ 2 of 61 '."~ '~ . :,:" 000689 9, TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an en~ity other than a natural þsrsol'l.,·(such as a corporation or other organization). Lender may demand immediate paymen~ if (1) a beneficial interest in Mortg~gor is sold or transferred; (2J there i$ a ohange in either the identity or numbar of members of a partnership or similar entity; or (3) there is a change in ownership of rnore th<ll1 25 perclant of the voting stock of a corporation or similar shtity. However, I.ender 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 emity other than a natural person (such as a corporation or other organization I, Mortgagor makes to Lender the following warranties and representations whioh shall be continuing as long as the Seoured Debt remains outstandihg: A. Mortgagor is an entity which is duly organized and validly existing in the Mortgagor's state of incorporation (or orgahization). Mortgegor Îs in good standing in all states in which Mortgagor transacts business. Mortgagor has. the power and authority to own the Property and to carryon its business as now being conducted and, as applicable, is q\.lalìfied to do $0 in each state in which Mortgagor oper~tes. 8. The execution, dl'!livl'!ry and performancQ of this Mortgage by Mortgagor and ths obligation evidenced by the Evidence of Døbt are within the power of Mortgagor, have been duly authoriled, have received all necessary gov!'!rnmF!nt"l arproval, Rnd will l'Iot violatê anv provision of law, or order of court or governmental agency. C. Other than disclosed În writing Mortgagor has not changed its name within the last ten years and has not used any other trade or fictitious name. Without Lender's prior written conSént, Mortgagor does not and will hot Us.e any other name and will preserve its' existing name. trade names and franchises until the Secured Debt is satisfied. ' , 1. PROPERTY CONDITION, At TERATIONS AND INSPECTION. Mortgagor will keep the Property in good oonditÎon. and make all repairs that are reasonably neCeð$ary. Mortgagor will gìve Lender prompt notice of any loss Or damége to the Property. Mortgagor will keep the Property free o'F noxious weeds and grasses. Mortgagor will not inhiate" join in or consent to any change in any private restrictive covenant, zoning ordinaliOe or othsr public or private restriction limiting or defininQ the uses which may be made of ihe Property or any part of the Properw, without Lender's prior written consent. Mort ; a ; or will notify Lender of all demands, proceedings, claims, and actions against Mortgagor or any Qiher owner made under law or røgul3t1on regarding lISè, öwnsr$híp and oocupancy of the J-'roperty. Mortgagor wÎìI comply with all legal requirements and restrictions, whether public or private, with re.!lpect to the use of the Property. Mortgagor also agrees that the nature of the oocupam:y and use will not change without Lender's prior written consent. No portion of the Property will be removed, dernolished or materially altered without Lender's prior written conseni I!!xceot that Mortoa(]or has the riaht to remove items of personal property comorisina a Dart of the Property that become WOrn or obsolete, provided that $l,Joh personal property is replaced with other personal property at least equal in value to the replaced personal property, free from any title retention device, security agreement Dr other encumbranoe. Such replacement of personal property will be deemed subjeot to the security interest created by this Mortgage. Mortgagor shall not partìtioh or subdivide the Property without Lender's prior written consent. Lender or Lender's agents may. at Lender's option. enter the Property at ðllY reasonable time for the purpose ot inspeotlng the "'ropc;¡rty. Any inspection ot the Property shall be entirelv for Lender's benefit and MortQaQor will in no way rely 011 Lender's inspection. 12. AUTHORITY TO PERFORM. If Mortgagor fails to perform any of Mortgagor's duties under this Mortgage, or any other mortgage, deed of trust, security agreement or other lien document that ha.s priority over this Mortgage, Lender may. without notir.e,. perform the du1ip.~ nr MUM 1:hl'lm to be pBrformAd. Mortg"l[lor Rnnnìnt!\ Il'!rll'h~r I'I!'I Attorngy in fact to gign Mortgagor's name or pay any amount necessary for parformanoe. If any construction on the Property is dis9.9òtinued or hot carried on in a reasonable manner, Lender may do whatever is necessary to protect I.ender's sElcurity int'c;¡røst in the Property. This may include completing the construction. Lender's right to perform for Mortgagor shall not create an obligation to perform, and lender's failure to perform will not preclude lender from exercising any of Lender's other rights under the law or this Mortgage. Any amounts paid by Lender for insuring, preserving Dr otherwise protecting the Property and Lendar'.5 security interest will hR due on rJernf!nd and will bear interest from the date of the payment until paid 111 full at the interest rate in effeot from tìmlil to time according to the termS of the EMdence of Debt;. 13. ASSIGNMENT OF LEASES AND RENTS. Mortgagor assigns, grants, bargaih$, conveys. mortgage$ and warrants to Lender as additional security all the right. title and interest in the foJlowin!:t (f>roperw). A. Existing or future leases. subleases, licenses. guarantiss and any other written or verbal agreements for the use and occupancy of the Property, including but not limited to, any extensions. renewals, rnodifioations or replacements (Leases). B. Rents, issues and profits, including but not limited to. security deposits, minimum rents, peroentage rents. addìtional rents, cot'nrnon àrea maintenanoe ohargs~. parking charges, real estate taxes, other applicable taxes, in~un¡¡ncliI premium contributions, liQuidatad damagas following default, cancellation prêmiuma, ·lo~~ of rgntli;" insuranoe, gllest receipts, revenues, royalties. proceeds. bonuses, aocount$, con(ract rights, genc;¡ral intangibles, and all rights and claim~ which Mortgagor may have that in any way pertain to Dr are on account of the' use or occupancy of the whole or any part of the Property (Rents}. ' In the event any item list~d as Leases or Rents is determined to be personal property, this Assignment ~ill, also be !'~:;~!"d~d ~!: ~. f:"?ct!!"h'/ ~v!"?~~~~t. .-:'-4' ~ ~ 1119~, 2gg 1 EI.n~~r' SYI1,m,. {ne.. S\. I;I",v~, MN "orrn 1\¡¡¡C;;O·RôJõI·WY 111 ~r;¡gc¡" ~\Y7 uJ.. I (page 3 t;Jf 8) dt~- 03/19/2~-- ·':40 3078850002 ~ANK OF STAR VALLEY ìE 13/17 000690 Mortgagor will promptly provide Lender with copies of the Leases and will cettify the$e Leases are true and correct copies. The BxistingLeases will be provided on execution of the A$$ìgnment, and all of the future Leases and any other information with respect to these Leases will be provided immediately after they are executed. Mortgagor may collect, receive, I'Jnjoy and use the Rents so long as Mortgagor Is not in default. Mortgagor will not cQllect in advance allY Rents due in fu,urelease periods, unless Mongagor first obtains Lender's written consent. Upon default, Mortgagor will receive any Rents in trus, for londer and Mortgagor will not commingle the Rents with Elny other fund$. When lender so directs, Mortgagor will endorse end deHver any paymcni$ of Rents from the Property to Lender. Amounts coJlec.te~ will be applied at Lender's discretion to the Secured Dêbt!\, the CMt.~ of managing, protecting and preserving tht! Property, and other necessary expenses. Mortgagor agrees that this Security Instrument is immediately effective between Mortgagor and Lender. This Security In$trl,lment will rsmain effective durin¡;¡ any statutory redemption period until, the Secured Debts are satisfied. Unless otherwise prohibited or prmscribed by state law, Mortgagor agrees that Lendti!t may take ac:tual posse$.Sion of the Proþerty without the neoElssity of oommenoing any legal aotion or proceeding. Mortgagor agrogs that actual oO$$eMlon of the Property is deemgd to occur wilen Lender notifies Mortgagor of Mortgagor'$ default and demands that Mortgagor and Mortgagor's tenants Pl.\Y all Rerrts dua or to bacomg due directly to Lender. Immediately after Lendl:'!r glVM MortgJ;\gor the nötlM of d",f~t I1:. Martoagor amRAI': th~t ",ithAr 1.I'!!1rlp.r nr MortgBaor m!W írnmadiaV!'IIJ notify the tenants and demand that all future Rents be paid direotly to Lender. As long as this Assig.nment is in effect, Mortgagor warrant5 and repre5ent5 that no default exists undar the Leases, and the parties subject to the Leases have not violated any applicable law on leases, license$ and landlords and tenants. Mortgagor, at it:J sole cost and expen.se, will keep, obsC!lrve and perform, and require all other parties to the Le"~9s to oomolv with the Leases and anY aoolicable law. If Mortaaaor or any cartv to tho Lease defaults or fails to observe Anv applicåble Jaw, Mortgagor will promptly notify LendElr. If Mongagor neglects or refusøs to enforce compliange wIth the terms of tho Leases, then lender may, at Lender's option, enforce compliance. Mortaaaor will not sublet. modifv, extend, cancel. or otherwise al1er the Leases. or aocept the surrl!lnder of the Prooertv oovl!}r¡¡:d by the Leases (unless the Leases 50 require) without Lender's consent. Mortgagor will not assign, compromi5e, subordinate or encumber the Leases and Rents without lender's prior wrìtten consent. Lender does not as.sume 'or becomo liable for the Property's maintenance, depreciation, or other los5es or darnage$ when Lender. acts to manage, proteot or preserve the Property, excgpt for losses and damage5 due to Lendet's. gross MgligeMe or inte~~ional tOfts_ Otherwise, MOrigagor will indemnify Lender and hold Lender harmless for all liability, 1055 or damage that Lerrdl!Jr may incur when Lender opts to I!xl!rcise any of its remêdies against any party obligatQd under the Leases. 14. CONDOMINIUMS: PLANNED UNIT DEVELOPMENTS. If the Property includes a unit in a condominium or aòcilenned unit development, Mort¡:¡a¡:¡or will perform all of MortQ<lç¡or'$ dUtié$ under the covenants, by·laws, or reQulàt¡'ons of the condominium or planned unit devèloþmen't. . 115. OEFAUL T. Mortgagor will bg in def~"lt if anv t:lf t.h!;! followínÇ! 0CCIJr: A. Any party obligated on the Secured Debt fail$ to m~kà payment when dUB; B. A breach of any term or covenant in thi$ Mortgage, any prior mortgage or any construction loan agreement, security agreement or any other document evidencing, guarantying, .$ècuring or otherwise relating ta the Secured Deb~ , C, The making or furnishing of any verbal ot written representatíon, statement or warranty to Lender that ;$ false or incorrect in any material respect by Mortgagor or any person or entity obligated on the SecUted Debt; D. The death, dissolution, or in.solyency of, ç¡ppoÎntment of a receiver for, or application of any debtor relief law to, Mortgagor or any person or entity obligated on the Secured Debt; E. A good faith belief by Lender at any time that lender is insecure with respect to any person or entity oblîgated on the Secured Debt or that the pro.:;;pect ot any payment is impaired or the value of the Property is ·impaired; F. A material adverse ohange in Mortgagor's business including owner$hip, m<'lnagement, and financial conditions, which Lender in its opinion believes impairs the value of the Property Dr repayment of the Secured Debt; or G. Any toan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible ,rand 'or to thB Donvar$ion of wetlands to produce an agricultural commodity, as further explaìnedin 7 C.F.R. Part 1940,- Subpart G, Exhibit M. ,.. 16, REMEDIES ON DEFAULT. In sóme instances, federal and state law will require lender to provide Mortgagor wíth notice of the rig~t .to ~ure, !"1ediation notices or other notioEls and m~y establish time sohedules for foreclosure actj~" i:. Subject to these limItations, If any, Lender may aocelerate the Seoured Debt end foreclose this Mortgage in a manner provideq by law if this Mörtaaaor is In défalJlt. . At the option of Lender, all or any ;tart of thé agreed feEls and oharges, accrued intere5t and principal 5hall bElf,;ome immediately due and payable, aftet giving notice ìf required by law. upon the occutrence of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the Evidence of Debt, other evidences of debt, this Mortgaae and anv related documents includina without limitation. the! oowl'lr Tn AAII thA Pro nP.rtv, All rorncdiea atg dir.tinr:t, - curnulativQ slid t'IOt exctusíVà, alid thà l.ander i,;¡ entitled to all rem'edìee provided at law ~r li'quity, whether expressly s$t forth or not. The acceptanoe by I.ender of any sum in payment or partial payment on the Ser::ured Debt after the balance is due Dr is accølerated or after foreclosure proceedings ¡are fifed $hall not oonstitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising any remeç!y on Mortgagor's deh~ult. Lender doaJ1 not waive Lander's rlctht to IlIter com.ider th~ p.vf!nT,5\ nf!fO!llh if it. "'mtin'!",~ t:'r n"lpp~n~ 3C1!in. ~ e 1993. zOOI !jonk." Syortom..lnc., SI. CI~<:I. MN F~r'" AIJCO·RE$I-WY 1/1812.003 ~\>7 -/); (psge 4 af $1 /Øu~ " 000691 17. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all at LeMer's expanses It Mortgagor breaCMs any covenant in 1hlS Mortgage. \\llortgagor wilì also pay on demand all of Lender's expenses incurred in collect.ing, insuring, pre$erving or protecting the Property or in any inventories. audits, inspections or other examination by lander 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, including, but not limited to, attorneys' fees, court CaStS, and other legal expenses. Once the Secured Debt is fully and finally paid, lender agrees to release this Mori¡;¡age and Mortgagor agrees to pay for any recordation cost$. An such amounts are due on demand and will bear intarest from the time of the advance at the highest rate in effect. from time to time, as provided in the EvideMe of Debt and as permitted by law. 18. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental Law" means, without limita~ion, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.1. all other federal. state and local laws, reQUlõltlons, ordinances, court orders. attorney general opinions or interpretive letters concernmg ,he public nenmn. :¡¡.rrI:lW, weltare. envlronmem (,Ir a hazaroous sub$'!arW8; and i2.j nH!lz",rdow.. ~lIh"tAnoe" m!'lan!\ any toxic. radioactive or hazardous material. waste, po!lutant or contaminant whioh has characteristics which render the substance dangerous or potentially dangerou,!'; to the public health, safety, wßlfare or p.nvirnnmp.nt. Th~ term inoludes, without limitation, any substances defined as "hazardous material, n "toxic sub$t;ncQs," "hazardous wast8" or "hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that, except as previously disclosed and acknowledged in writing: . .f!... r-!o:o H!,<!,,!~~~I_!,\ '3phCf"'''..... h.... h....n ì" ,.,r will nþ. Inr.",tp.d. tr..n!'lnortAd. manufactured. trMt~d. refined. or handled by any person on, under or about the Property, except in 'thE] ordinary course of business and ìn 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 the Property . C. Mortgagor will immediately notify Lender if (1) a release or threatened release of Ha¡;ardous Substance oocurs on, under or about the Property or migrates or threatens to miarate from nearby property; or (2) thera is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial action in accordanoe with Environmental law. D. M"'rt...",........ h..... nn knnwlF!rtm> nf or r"'....nn to b9limre therp. i~ ".nv nendinc or thrtojatened investidlltion, olaim, or pr~c;eJing 'of any kind rQlating to (1) any Hazardous Substance 'Io'cated on, under or about the'-Property; or (2) any violation by Mortgagor or any ten8nt of eny Environmental LaW. Mortgagor will immediately notify lendør in writing as soon as Mortgagor has reason to believe there is any such pending or threa1:enEld investigation. claim, or proceeding. In such an event, lender hf.1s 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 ill full complianoe with any applicable Environmental Law. F. Thara arQ no underpround storaoe tanks. private dumps or open werts looated on or under the Property and no such tank, dump or well will be a-dded unless Lender tirst consents in writing. ' I". G. Mortg/\gor will r!'rlll~tl" it"l'l"Mt. th~ Prnnp.rtv, monitnr thé Mtivjti~s and ooerat,on!'! on thê Pro :)~rty, and confirm that ell permits, licènses or approvals required by any applicable Environmental Law are obtained and complied with. H. Mortgi!lgor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect ths Property ~~d r!"li"w 1.'\11 r,?"nrr:1!il ..f .."".r r..>1oo.1'\t'I...hl... '1m... 10 rI <\t~rminp. !') thA Axl!lt!'!nO!!, 100a1ion and natllre öf anv Hazardous Substance on, under or about the Property; (2) the existence, locetion, 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 applícable Environmental law. I. Upon lender's request and at any timEl, Mortgagor agrees. at Mortgagor's expense, to engage a qualified environmsntal engineer to prepare an environmental audit of the Property and to submit the results of such audit to Lender. The choice of the environmental en¡;¡ineer who will perform such audit is subject to lender's approval. J. Lender has the right, but not the obligation, to perform any ot IVlortgagor's obligations under this section at Mortgagor'$ expen,!';Q. K. As a consequence of any breólah or any representation. warranty or promise made in this section, (11 Mortgagor will indemnify and hold lender and Lender'.s successors or assiqns harmless from and against all losses, claims, demands, liabilities, damages, cleanup, response and remediation cons, penalties and expenses, including withou~ limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or assigns may ~1I!ltRin: Ann (2) At LP.ndRr'.q discretion. lender mav releS$e this Mortcaca and in retum Mortaaaor will provide lender with collateral of at least equal vallie to the t-'roparw S9Cur~a Dy tillS Mortgage without prejudìc.ø to any ot lender's rights under this Mortgage, L. Notwithstanding <lny of the language contained in this Mortgage to the contrary, the terms of thi$ sElction shall survive any foreclosure or satisfaotion of this Mortgage regardless o'f any paSS:1\ge of title to lender or any disposition by Lender of any or all of the Property. Any olaims and defenses to the contrary are hereby ,waived. 19. CONDEMNATION. Mortga¡: Qr will qive Lender prompt notice of any action, real or threatened, by private' or public enti~ias to purchase or take any or all of the t-'roperw, II'Icluaíng any easøments, throufilh condemnation, eminent domain, or any other mean.!>. Mortgagor further agrees to notrfy Lender of ally proceedings instituted for the establishment of allY sewer, water, CQnservation, ditch, dr~inage. or other district relating to or bindíng upon thD Property or any part of it. Mortgagor authorizes Lel"lder to intervene in Mortgagor's name in tiny of the above described actions or claims and to collect and receive all sums resulting from the action or claim_ Mortgagor assigns to lender the proceeds of any award or claim for damag8s connected with a condemnation or other tElking of all or any part of the Property. Such proceeds shall be! considered payments and will be applied as provided in this iviongag~. his assignment of proceeds is subjeot to the terms of any prior mortgage, deed of trU~t. security agreement or o1her lien document. (P/Jgft 6 of 8) " .A . /Þ'l,¿ø.<'_ ~ ~~-- F~ @ 1~~3. 2001 Ibnkoro SvoWm.. lno.. $1. Cloud. MN Form AIJCO·RE$I-WY 1 " a{200~ -- '~Ql1 03/1912~~~ "1:40 3078850002 3ANK OF STAR VALLEY :::iE 15/17 20. INSURANCE. Mortgagor agree.s 'to maintain in$urancEI as follows: A. Mortgagor shall keep the Property insured against loss by fire, theft and other hazards and risks reasonably associated with thQ Property dUEl to its type and location. Othar hazards and risks may include, for exalT1þle, coveraae a(]ainst toss due 'to floods or floodinç¡. This insurance shall be maintainerl in the >!mmmT" l'It"1d for the periods that Lender requÎres. What Lender requires pursuant to the prBceding two sentences can change during the term of the Secured Debt. The insurance carrier Drovidino the insurønce shall be chosen by MnrtQRgor fjllb!p.nt 'to Lender's OIpproval, which $h<lll no't be unreasonably withheld. If MortQagor faile to maintain ¡he coverag'e described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property according 10 the terms af this Martg<lgs, t1006g2 -tJ{o. . All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortg~gø cl;¡use" and, where applicable, "ll!InC/er loss payee clause." Mortg<lgor shall immedi__tely notify Lender of cancenation or termination of the insurance. Lender shell have tha right to hold the policies and ranewafs. If lender requires, Mortcacor shalf immediatelv aive to Lender ell receiotJ'l Q'f OAid oren'lilJn'lJ'I And rp.MwAI nðticM. Uóon lo!;!;, Mortgaqor shall Ç!ivB immediate notice to thQ insur;¡ncl!I carri@lr ann L AnrlAr J Anrl",r t"'..v ""',*'" r-rnnf n1' In"" if nnt made immediately by Mortgagor. Unle$s Lender and Mortgagor otherwise agree In writing, insurant:e þrpceeds shan be ðþplied to ré~toratjon or repair of the Property damaged jf the restoration or repair is econornically feasible and Lender's security is not lessened. If the re.!!toratioh or repair is not economically feasible or lender's security would be les,sened, the insurance proceeds shall be applied to the Secured Debt, whether or not then due, with any eX~ss paid to Mortgagor, If Mortgagor abandons the Property, or does not answer within 30 days a notice from Lender that tha insurance c;arrier has offered to settle a claim, then Lender may colfec, the insurance proceeds. tender may use the proceeds to repair or restore the Property or ta pay the Secured Debt whether or not th·en'due. The' 30-d¡¡y cedod will beain when the notice is aiven. ' Unless Lender and Nlor1gagor otherwise agrsa in writing, any applicatioh of ptoceeds to principal shall not extend or postpone the due data of soheduled þayrnents ot change the amount of the payments. If the Property is acquired by LeMer, Mortgagor's right to any Insurance policies and proceeds resultin~ from dama¡¡e to' the Property 'before the acquisition sl1all pass to Lender to the øxtønt of tha Secured Debt immediately beforEl the ac;quisition. B. Mortgagor agrees to maintain comprehensive general liability insuranCe naming Lehdèr as an acltlì1ional insured in an amount acceptable to Lender, insuring against claims ~ri3ing from any accident or occurrenoe in or on the Property , C. Mortgagor agrees to maintain rental lass or business interruption insurance, as required by Lender, in an amount equal to at least coverage of one year's debt service, and required escrow aocount deposits (if agreed 10 separa'tsly io wri¡ing), under a form of polícy aoceþtable to lender. 21. NO ESCRoW FOR TAXES ANO INSURANCE. Unless otherwise provided in a separate agreamant, MortgAgor will not be required to pay to Lender funds for taxes and insurance in escrow, 0 22.. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortaaaor will provida to Lander lltmn rp.fC!IIF!J'.t. :~\~y flMnniAI Matement or information Lender may deem nec~ssary. Mortgagor warrants that all financial statements and Information Mortgagor provides- to Lander are, or wìll be, aCGurate, correct, and compl~1Q. Mortgagor egrae$ to tlign, deliver, and fne a.s Lsnder may reasonably request any additional documents or oartificatiOI"l$ that Lender may consider neoessary to perfect, con¡inue, and prl! s~rve Mortgagor'$ obligations under this Mortgage and lander's lien status on the Property. If MortgaClor fails to do .90. Lender rnay sic¡n. deliver. and file such docun'l~nt~ (Jf <,:ertíficAt~.. in Mnrtn..nnr'.. n~m" ..nrl M~rtga?Or he~ebY irrevocably appoints Lender or 1.G1nd$r's agent as attorney in fact to do the things ne~e~sary to comply '....'~!h th!~ 3~f."+~~~. .: :.." : 23. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS: SUCCESSORS AND ASSIGNS ROIINn All rill'!',.... It!'lM'" thi.. MN'...I'\..... are joint and individual. If MOl1gagor signs thìs Mortgage but does no¡ sìgn the Evidence of Debt, Mortgago~ does So "~nIY to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. Mortgagor agrees that Lender .md any party to this Mortgage may extend, modify or make any changa in the terms of thi.!! Mortgage or the Evidence of Debt wìthcut Mortgagor's consent. Such II change will not relaase Mortgagor from the terms of thìs Mortgage. The duties and benefits of this Mortgage shall bind and behefit the successors and assigl'1$ of Mortgagor and lender. ¡of this Mortgage secures a guaranty between Lender and Mortgagor and dO,es not directly seoure the obligation Which is guarantied, Mortgagor agrees to waive any rights that may prevent Lender from brìnging any action or claim I'Igainst Mortgagor or any þarty indebted under the obligation including, but no't.lìmitad to, anti-deficiency or onè.act¡o~o !a~s. ti:' ~., @1993, 2001 !:lAnk.... $y.~mt,lnc., St. Claud. MN FarlTl'lGGO'Aê$I-W'r' "'6'Z003 ~'\i (ptJge 6 of' 8) ¥- ~~ 000693 24. APPLlCABl.E LAW; SEVERABILITY; INTERPRETATION. This Mortgage is governed by the laws of the jurísdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Mortgage is complete and fully intl:grated. This Mortgage may not be amended or modi1J.~d by oral agreement. Any $Elction or clause in this MortgagE!, auachments, or any agreement related to the Secure'd Debt that :::~~f!jc~~ w1!h !!!::,p!ic~b'.. !~,., 'A/ill nnt h!'l !'Iff~~ti\,p., Imlp."" that law exoresslv or implied Iv pêrmits the variations by written agreement. If any section or clause of this Mongage cannot be enforced according to its terms, that section or clause will be severed and will not affect the enforceability of the remainder of this Mortgage. Whenever used, the singlllSir shall include th<!l ph'r..1 and ¡hI'! ~lural ¡he singular. The captions and headin¡¡s of the sections of ¡his Mortgage are for conveniance only and are not to be used to interpret or define the terms ot thjQ Mortgage. I 'm~ is ot the essence in 'this ~,.~ :"'!:'t'~:-:-~~, . .. w. ~-u .'.... 25. NOTICE. lJnlêJ;'!\ otherwise reauired by law, any notice shall be given by delivering h or by mailing it by first class mail to the Q ;I ;Iropriate party's address on page 1 Of this IlIlortgaga, or to any other address designated in wYlting. Notice to ona mortgagor will be deemed to bè nr;:f\ica 10 (j i nlul\w~gUl's. 26. WAIVERS. Except to the extent prohibited by law, Mortgagor W9ives any right regarding the marshalling of liens and a$$e,s and all homestllad exemption rights relating to the Property. 27. U.C.C. PROVISIONS. ]'f checked, the following are applicable 10, but do not limit, this Mortgage: o C!)n!'!!'r'.'r.~!o!'! LIt'i!!~. Thi~ M\'1rt')<I[1 j1 SF!G"rP.~ tin oblipation incurred for the construction of an improvement on the PtoPl\!rtV, n Fixture Filing. Mort¡; agor grants to Lender a securíty intere$t in all goods that Mortgagor owns noW or in the future and that are or will become tixtures related 10 'the Propeny. . " o CroDs: TimbOi!r: Minerals; Rents. h¡¡sues and Profit$.. Mortgagor grants to Lender a sscurity intere.M 'h1 all crops, timber and minerals located on the f-'rcpeny as well as all rern", Issues, anI';! profl~s of 1hEllT1 inciuding, but nl,J~ limited to, all Con!òervation Reserve Program (CRP) and Þayment in Kind IPIK) paymen~s and similar governmental programs (all of which shall also be inoluded in the term "Property"). D Personal Property. Mortgagor grants to Lender a security interest in all personal property located on or connected w:~~ ~~~ p~')~t;!~1:'! Th¡~ ..",~I..i'\' ¡ntp.r....t ;0"1111'1,,,.<1 all farm orodlJct~, inventorv. eauicment. accounts, documents, instruments, chattel paper, general intangibles, and all o~her Items of personal property Mortgólgor owns now or in the future and that are used or useful in the construction, ownership, operation, management, or maintenance of thm Property. The tsrm "personal property' spec!1' o¡¡IIIY 8XGIUalOS ma~ f.nufJl::llY Je.scrif,ll¡l'" ,,:,¡ "lluu<,>.:i'lcíÙ ¡;¡üûJ",' SMIJrên În Gonnectiòn with a "consumer" loan as those terms are defined in applicable fedÐral regulations governing unfair and deceptive oredit practices. o Filing As Financing Statern~nt. Mortgagor agree$ and acknowledges that this Mortgage also suffices as a financÎng statement and as such, may be filed of record as a financing statemllnt for purposes Of Article 9 of the Uniform Comml!!rcial Code, A carbon. ohotoaraphic, imape or other reproduction of thi$ Mortgage is $ufficiønt as a financing statement. 2a. OTHER TERMS. If checked, the following are applicable to this Mortgage: o Line Df Credit. The Secured Debt includes a revolving line of credit provision. Although 1he Secured Debt m:¡¡y be reduced to a zero balanc:,¡t, this Mortga~e will rGmain in effeç1 utnil feieased, rï C!n.....d. 1\00;".........." Th.. IIAnr1n"'l"1nr ""..~ I'!\tFlr:lltP.rl nr will execute 8 Sp.OBrate assionment of lea~es and rents. I'f th~ ~p.~~r<l~1iI ~,!\,<;i!:1nmf!nt of leaMs and rents is properly executed and recorded, then the separate ass\Qhment will supersede this Security Instrument's "As$ignment of Leases and Rents" section, o Addidonail Terms. =-~,M ~,..~~ ,,.,,.,, '-'n~.~ !':_~",., ,~... 51, cloud, MN Form AGCO·Rf.SI.WY 1I1~12003 -- ._---- '995 (pB¡:¡~ '/ of 8) ~~I~;"~ 03/19/~~~o '1:40 3078850002 ~~NK OF STAR VALLEY 3E 17/17 000694 SIGNATURES: By signing below. Mortpat;1or aørses to the terms and covenants contained ÎI1 this Mortgage and in any I"'tt8chment!\, M"rtgarJ"r I'll.." ~~k~nwledgf!$; rf!r.F!int nf OJ copy of this Mortgage on the date stated aþave an Page 1. U Actual Elutl'1omy was ç¡rant(;Q 10 111e parties signing pslow DY re:solulion signed and datec:i Entity Name: ~ CS)M c:;JJ¿ (SI9n~tu'8~RENT DELL SCHWAB :Æ~' ~ ~L1¥J-- ISiRna!u/eipATTI.t. SÇHWAlJ ID~tQ /tf¿v--Ú~~ (Slgnatur8)¡JAVID W. SCHWAB ·i;F~ :3 -2.1"" ·-£lij '3-?1-7ct>B (D:.1Q 3-;;u-o,? \ùa,.., 1;'?lytl.nurn IDaioel o Refer to the Addendum which is attached and incorporated herein for addìtional Mortgagors, signatures and acknowledgments. . dndh,lttllAI) ACKNOWLEDGMENT: STATE OF WYOMING . COUNTY OF \..o-:)~~ ,his instrument was acknowledged befors me thi$ 9-L day of ~ ~t by B8tl!i Î DEi L SCHWA¡j· ¡j¡¡~iù ~'v. 6CjjW.Ä~· pill I i j ii¡:¡"¡ŸJ.4¡¡ iI£., JÙIJÙ l'tl~~lfì:; My oomm;";on oxp;,." Lj ¡:)1 ~,;"" "'h tJIl)ßo ø~ ~ ' ______ l~~; ,7f\ 'N",,: ,""J ~ ,~ ' .- ~ L): :: :: <;¡ lJ ::: ~ ~\o~" ,/ ~:: \:::i,::, ,<::;;;~~?ii ·,.r¡:I~üjJb~~~\¿\i~\ } ss. STATE OF W ~~~ ,COUNTY OF ~ ) 5S. This instrument was acknowledged before me this .?-1 day of ~ '"'2..D-t:r~ by \bR...~t..Nr'\)~LL SW\IJ~', )"""'-'Q \A)l <';'~\¡.yI\'ß'" 'VA~Ù J""c;t..~ Äi:! ...:fbtt-J'\ ~~::'::'. \P... Hc"''''_~ ~ - (Tltl9~; A''''',w ·~um,,"~ of (N~me 01 BU81n8811 or Entity) a on behalf ot the business or entity. My commission expir¥: ! () - J\ 4/;n <3cn¡ ),) e~ T dr-1 ' :;¡: ~'~~U 1(' ., . .\\,~:~"\..,,.:,...<!. ~.~~.' ~ l.:',_~~ ¡ f}"~!'f ,'_,. - , ../; ~'l~ " (' (.; "'-, ,. ,. . )'/ ~ ¡~~~;~':':'~:i ".,',,:.:..::{:r\ :: : ü . '.i.ow.'- GJ: § - IJ " -:; cP -. :; .:"i_) ~f}/J ~ ~ \:;.;-~:~~~:¡" :?f~~:;:>:~O¡ "'" ~ ,.') ..,',.........., ::f\~ " "1'/,1' t.Y./: 1.~'/J.,..'>~..~\.:r.\" 1'.1 ~'.iJ t ~; ¡'¡¡ ~ Z~ ~,\ f,t,,!~ ~ @1S193. 200' EiAn~.'. ~y.,."'.. 1M" St. CI~I, ~, MN F",rm AGCO-RESI-WY 1/16/20Q3 (psgEl 8 of 8} \...; ....J · ! I · I I, LEGAL D.tIunION EXHlBIr 'A' Order No: 6010715464 · I : I 000695 That part of the Nort1nvest Quarter of~ ~ortheast QuartCT of Section 33, TOWJI.hip 35 North, Range 119 Wcet, Lincoln CouDtj1, WyomlDI, bein!: part of that tract of record in the Office of the Clerk ofUDeoJa County in Book 308 ofPbotostatic Reeords 00 page S02 and aU of that tract of record, in said Office in Book 199 of Photostatic: Reçorw on page 69Z, described as folio",.: ì · . , BEGINNING at the Northeast PK of .aid.tract in Book 199, on the North line of said Northwest Quarter ofthe Northe..t Quartèr, West, 1846.62. feet, from the Northeast corner of said Northeut Quarter; " . thence South OODœ'OO" West, 38%.7! f'; ~onl the East tine of ,aid tract, to the Southeast bathey thereof; I thence South 89049'30" West, 195.47 feett &Jone the South line of said tract, to the Southwest bather, thereof; : thence tontinuinB, Soutb 89°49'30" Wa~ 1t7.St feet, alon¡ a Westerly extension of said South line, to a point; : thence North 00°05'00" East, 383.71 fee~' ~arallel with tbe West line of said tract, to a spike on the North line of said Nortb!f~5t Quarter of the Northeast Quak'"rj thence East, 117,51 feet, along then Nort~ ~ne ofsald Nørthwest QUArter oftbe Northeast Quarter, to the Northwelt,P¡K of .aid tract; thence continuing, East,1'S,47 feet to the ,-K OF REGINNlNG. " ! I I : , I ~ ¡ : ~ . . , , : . 11/212007 . I '-' ..¡ I hereby certify this to be a tr~e. and con-ect copy of th on~cument. 8 - . r!0 P24/¡~ .f:~: .If 000696 NON-OWNER OCCUPANCY RIDER THIS NON-OWNER OCCUPANCY RIDER is made this 2ND day of JULY, 2007 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to THE BANK OF STAR VAllEY, 384 WASHINGTON STREET, PO BOX 8007, AFT ON, WY 83110 (the "Lender") of the same date, and covering the Property described in the Security Instrument and located at: 1363 HWY 239, FREEDOM, WY 83120 [Property Address] In modification of and notwithstanding the provisions of Section 6 of the Security Instrument, Borrower represents that (slhe does not intend to occupy the property described in the Security Instrument as a principal residence. BY SIGNING BELOW, Borrower agrees to the representations contained Non-Owner Occupancy Rider. ~~sJA .&'(J~ BRENT DEll SCHWAB; PATTI J. SCHWAB ~ - ß~~ DAVID W. SGHWAB in this (SEAL) Borrower (SEAL) Borrower Bankers Systems, Inc., St. Cloud, MN Form NOO·R 6/16/2004 (page T of 1)