HomeMy WebLinkAbout940061
Jun-20-2008 n1 ~~ PM Firšt"Sãnk 307-654-3623
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7/31
RECORDATION REQUESTED BY:
1IIt Bank
Alpine
79 Hlghwey 89
P.O. Box 3110
Alpine, wY 83128
WHEN RECORDED MAIL TO:
1 ~t 811nk
Alpine
79 Highway 89
P.O. Box 3110
Alpine, WY 83128
. RECEIVED 6/24/2008 at 4:26 PM
RECEIVING # 940061
BOOK: 698 PAGE: 297
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SEND TAX NOTICES TO:
1at Bank
Alpine
79 Highway 69
P.O. Box 3110
Alolnl. Wy 83126
L100297
SPACE ABOVE 'fHIS LINE 16 FOR REÇORDER'Q UGE ONI.I.
MORTGAGE
.
THIS MORTGAGE dated June 20, 2008. is mnde and executed between PETER L WELKER and PArGE A WELKER,
HUSBAND AND WIFE (referred to below 88 "Gran torR) and 1st Bank. whose address III 79 Highway 89, P.O. Box
3110, Alpine, WY 83128 (referred to below CUI "Lender").
GRANT OF MORTGAGE, For valuable oon~lderation, Grantor mortgage. IInd conveys to LInder 1111 of Grantor's rIght, title, and Interest In and to
the following deacrlbed real property, together with 1111 existing or subsequently arected or affixed buildIng., Improvements and frKtures; all
easements, rights 01 way, and appurtenances; all water, water rlghtll, watercourses and dltoh rights (Including IItook In utlJltlaa with ditch or
IrrigatIon rights); and all other rlaht.\. royalties, and profits ralatlng to the reel proparty, Including without IImltlltlon ell minerals, 011. gas,
geothermel and similar matter3, (the Real PropartyR) located In LINCOLN County, State of Wyoming:
PARCEL 1: lOT FIFTY - ONE (51) OF NORDIC
RANCHES SUBDIVISION NO.4, LINCOLN COUNìY, WYOMING ACCO :{DING TO THAT PLAT RECORDED
AUGUST 9, 1994 IN THE OFFICE OF THE COUNTY CLERK AS INST :{UMENT NO. 787903, ~LAT NO. 311-C.
PARCEL 2:
lOT FIFTEEN (16) OF SHADOW DANCER ESTATES, LINCOLN COUNTY, WYOMING, ACCORDING TO THAT
PLAT FILED AUØUST 11, 2004 IN THI: OFFICE OF THE COUNTY CLI:RK AS PLAT NO. 173-C
The Roftl Property or Ita addre88 is commonlv known a8 916 SADDLE DRIVE, ETNA, WY 8311B & LOT 16
SHADOW DANCa¡ ESTATES, ALPINE. WY 83128.
Grantor prellently aS81gns to lander all 01 Grentor's right, title. and Interest In and to all present and future lease8 of tha Property and all Renta
from tha Property. In addItion. Grontor grants to Lendar II Uniform Commercial Code seourlty Intllreat In the Personal Property and Rents.
THIS MORT<3AGE. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE! RENTS AND PERSDNAL PROPERTY, IS
GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBLIGATIONS UNDER THE NOTE.
THE RElA'fE1J DOCUMENTS. AND THIS MORTGAGE. THIS MOR'fßAGE IS GIVEN AND A:CCEPTED ON THE FOllOWING TERMS:
PAYMENT AND PERFORMANCE. Exoept III otf1erwllla provIded In this Mortgage, Grantor shall PlY to lender ell emounts secured by this
Mortgaga as they become dua and .hall strIctly perform ell of Grentor'a obligations under thl. Mortgege.
PO~SESSION AND MAINTENANCE OF 'fHE PROPERTY. Grantor agreea that Grantor'a possession and ulle of the Property shall be governad by
the following provllllon8:
Poeees810n end Use. Until the occurrence of en Event of Defeult, Orantor may (1) remain In poseession end control of the Property; (2)
Ulle, operate or manegø tha Property; and (3) coli act the Rents from the Property.
DutY to Molnteln. Grantor shall maintain the Proparty In good oondltlon and promptly perform oil repalr8, replacements, and maintenance
nec8sllary to prellerv8 he value.
CompllenC8 With Environmen1al laws, Grentor rapresents and warrants to Lender thllt: (11 During the perIod of Grentor'& ownership 01
the Propllrty, there hllB been no uBe, genar8tlon, manufecture, atorllge, treatment, disposal, releaee or threatened releelle of any Hezsrdous
Substance by IIny parson on, under, about or from the Property; (2/ Grantor hll8 no knowledge of, or reason to ballllva tnet tnere hils
been, except ae previously diacloeed to and aoknowledged by lender In wrItIng, (II) any breach or violatIon of any Environmental lewlI,
Ib any use, generation, menufacture, storage, treatment, disposal, release or threatened release of any HBl8rdouII Sublltllnoe on, under,
ebout or from the Property by any prior owner8 or occupants of the Property, or (c) IIny actual or threetened IItlgetlon or claims 01 any
kind by any person røløtlng to euch mattsra; t!lOd (3) Except IS previously dlscloeed to Bnd acknowledged by Lender In writing. (sl neither
Grantor nor any tenant, contractor, agent or other authorizad U8ar of the Property shell U8e. generate, menufactura, eoora, treat, dlep08e 01
or releeae any Hezardous Substance on. undsr. about or from tha Property; IIncl (b eny aueh activity shal! be conducted in compliance
with all applloable fadersl, stete, and local IIIWII, raguletlon& end ordInances, Including without limitation all Envlronmentel Laws. Grantor
lIuthorl:z:e. Lendar end Its agents to enter upon the Property to make such Inspections IInd tests, at Grllntor's expenae, ea Lendar mey dellm
appropriate to determine complianca of the Property with this seotlon of the Mortgllga. Any In8pectlons or tests made by lender ahall be
for Lendor's purp088a only and 8hell not be construed to create any rsspon81blllty or liability on the part of lender to Grantor or to any other
paraon. Tha representatlcns and werrentle. contelned herein are baeed on Grantor's dus dlllgen08 In Inveetlglltlng the Property for
Halllrclou. 5ubetllnces, Grentor hereby (1) releaeea and waives eny future olarms egalnet lander 10r Indemnity or contribution In the
event Grantor becomes lIablø for cleanup or othar ooat8 undar any such lews; end (2) agreea to IndemnIfy, døfønd, and hold hllrmlass
Lender against IIny and ell olalms, lossae, lIebllltle8, damages, penlllUea, and expensee whloh Lendar mey directly or Indirectly sustain or
sutter reeultlng 1rom a bresch of this section of the Mortgagø or aB e oonsaquenca of any use, generation, manufacture, storage, dleposel,
r81ess8 or thr88tened release occurring prIor to GrantOr'1I ownership or Interest in the Property. whether or not the same wee or ahould
have been known to Grantor. The provisIons of thl8 section of the Mortguge, IncludIng tha oblIgatIon to Indemnify IInd defend, shan aurvlve
the payment 01 the! Indebtedneas Bnd the satisfaction and reoonveY8nca of the lien of thIs Mortgaga and shall not be effeoted by Lender's
acquisition of any Interest In the Property, whather by 10reclosure or otherwise.
Nulsanoe. Waete. Grentor ahsll not cause, conduct or permit IIny nulaanca nor commit, permit, or suffer any stripping of or wallta on or to
the Property or any portion of the Property. Without limIting the generality of the fcregolng, Grantor will not remoV9, or grant to any other
party tha right to rumove, any tlmbar, mInerals (Including 011 and \Ja81, 00111, olay, scorle, soli, grevel or rock produot8 without Lender's prior
wrlttan oonsant.
Removal of hl'1provement.. Grentor Ihell net demolish or remove any Improvementl from the Reel Property without lAnder's prior wrItten
oonlent. All e condition to the removal of Iny Improvamenta, lender may require Grantor to make arrangements satlsfaotorv to land8r to
replaoe such Improvements with Improvllm8ntø of It laa8t equal value.
Lender'" Right to Enter. Lender and lender', agentl end repr98entativee may enter upon the Real Property at ell reeBonable times to attend
to lender's Intenl.te snd to inspect the Real Property for purposes of Grantor's oompllence with the terms and oondltlons of this Mortgagu.
Compllanoe with Governmental R.qulremants. Grantor shall promptly comply with all laws, ordlnanoes, snd reguletlons, now or hereafter
In effect, 01 all governmental authorltlee eppllcllble to the UIIII or oooupancy of the Property. Grllntor mey contest In good felth any lIuch
law, ordInance. or regulation IInd withhold compliance during any procaadlng. IncludIng appropriate appeala, 80 long 118 Grllntor has notIfIed
Lender in writIng prior to doIng so end eo long as, In Lsnder's eo Ie opinion, lendar'8 Intereet8 In the Property are not Jllopardized. lender
may requIre OrantxJr to pOllt adequate aacurlty or a aurety bond, reellonebly sstlsfeotory to Lander, to proteot Lender's Interest.
Duty to Proteot. Grentor agra8S neIther to ebandon or 18ave unattended tha Property. Grantor I.Ihal do all other acts, In addition to thoe9
fuJ
~~
Loan No: 764005184
MORTGAGE
(Continued)
(,00298
Page Z
acts eet forth above In thIs 8ectlon. which from the chsracter end U88 of the Property are reallonebly n80e8ury to protect and preserve the
Property.
TAXES AND LIENS. The following provlelona relating to the texes and lienll on the Property ere pert of this Mortgege:
Pllyment. Grentor ahall pay whan due (elnd In all eventa prior to delinquency) all taxe8, payroll texee, epecial taKes, BII888Smente, water
chergell end sewer 8ervlce charge. levied against or on eccount 0.1 the Property, and sh;:III pay when due ell clelma for worK done on or for
ssrvlces rendered or material furnished to the Property. Grentor 8hell malntern the Property free of any Ilene hevlng priority over or equel to
the interest 01 Lender under thle Mortgage, except for those Ilene epeclf1cally agreed to In writing by lender, and except for the lien of texee
and a8se88mentll not dua es further speolfled In the Right to Conten peragraph.
Right to Cont8l1t. Grentor may withhold payment of any tax, aeaessment, or claim In conneotlon with a good faith disputa oVllr the
obllgðtlon to pay, so long all Lender's Internt In the Property is not aopardlzed. If a III," art8el or i. filed ae a result of nonpayment,
Grantor ahall within fifteen (1151 daye atter the lIan arlae8 or, If allan la filed, wIthIn fifteen (16) days after Grantor l1ee notIce of the filing,
seoure the dIscharge of the lien, or If requested by Lender, dllpoelt with lender cash or II sufficient corporøte eurety bond or othl!r seourlty
s/ltisfactory to lender In /In amount sufficient to discharge the lien plus any coets and re/lsonabl8 8ttorneY8' feea, or other chargee that
oould accrue /Ie /I result of 8 10recloeure or sale under the 118n. In any conteat, Grantor shail defend It8elf end lender and shall eatiefy any
adverss judgment bl!fore enforoement IIga1n8t the Property. Grantor BhaU name Lender e8 IIn addltlonsl obligee under any surety band
furnlsh8d In the COntll8t proceedings.
Evidence of Payment. Grantor ehell upon demand furnish to lender satlsfaotory evidence of payment of the taxe8 or alllleiement8 and shall
authorl:!:e the spproprlate governmental official to deliver to Lender st eny tlm8 a written itatement of th8 taxes and 88søasmente agelnst
the Property.
Notice of Conatruction. Grentor sh811 notify Lender at least fifteen (16) daya before eny work Is commenced, any aervice8 are furnlllhed. or
any materials are lupplled to the Property, If eny mechanic's lien, materIalmen's lien, or other lien could be a8serted on aooount of tha
worle, eervlces, or materlal8, Grantor will upon request of Lender furnleh to Lender advance assuranoes satlsfaotory to Lendllr that Grantor
can end will pay the OD8t of 8uoh Improvemants.
PROPERTY DAMAGE INSURANCE, The following provi/lions r81ating to insuring the Property ore a part of thla Mortgags:
Mlllntenenoe of Insuranoe. Grantor shall prooura and malntsln policies of flra Ineurance with etandel'd extended coversge Indoreament8 on
a replacement basis for the full insurable value covering all Improvem8nts on the ReBI Property In an amount lIufflclent to avoid eppllcetlon
of eny oolnsurance olause, end with a standard mortgegee olause In favor of Lendar. Polloles shsll ba written by such Insurenoe oompanlel
and In such form as may be reesonably acceptable to Lender, Grantor 8hall deliver to Lender certlflcatee of cDverage from each In8urer
oontalnlng 8 stipulation that ooverige will not be oanoailed or diminished wIthout /I minimum of thirty (30) deys' prior written notice to
lender and not containing sny dlaclalmer 01 the Inaurer'8 liability for failure to give such nDtlce. Each Insurance polley also eh/llllnclude /In
endorsement provIding that oover/lge In favor of lender will not be Impelred In Bny wey by any act. omleelon or defeult of Grantor or any
other peraon, Should the Real Property be roceted In an erea deelgnet:ed by the Dlroctor Df the Federel Emergency Menagement Agency ae
a speolel flood hazard /lr8/1, Grantor agr""1I tD obtain and maintain Federal Flood Insurance, if available, for the full unpeid principal balance
01 the loan and any prIor Ilene on thQ property 8ecurlng the loen, up to the maximum polloy limits set under the Netlonal Flood Inauranoe
Program, or aa otherwise required by Lender, and to maintain such insurence for the term of the loan.
Appllcetlon of Proceede. Grantor shall promptly notify Lender of any loeo or dðm/lge to the Property If the estlmeted oost of repair or
replecement exoeeds $1.000.00. Lender may make proof of los8 If Grantor faile to do eo withIn fltteen (15) daye of the ca8ualty. Whether
or not lender's eecurlty 18 Impel red, lender may, at Landar'a eleotlon, reoelva end retain the proceeds of any ineurance and apply the
pro08ed8 to the reduction of the Indebtedne88, payment of any lien affecting tha Property, or the reatoretlon and repair of the PrDperty, If
lender electa to apply tha prooeeds to r8storatlon and repair, Grantor ehell repair or replace the demaged or destroyed Improvement8 In a
manner utisfectory to Lender, lender ehall, upon 8atlafaotory proof of such "xpendlture, pey Dr reimbur8e Grantor from the prooeeds for
the reasonable ODlt of repair or reliltoration if Grantor 18 not In default under this Mortgage. Any proc""de whIch have not been dleburaed
within 1 60 days atter their receipt end whloh Lender has not commlttad to the repair Dr rlatoratlon of the PropertY shell be Ui8d flrit to pay
/lny amount owing to lender under this Mortgage, then to pay IIcoruad Interest. and the remainder, if any, ehall be applied to the prlnolpal
balance of the Indebtednees. If Lender holds any proceeds atter payment In full of tl1e Ind8btedneas, such procaeds shall be paid to Gr/lntDr
esGrantor's Intarelt8 may appear.
LENDER'S EXPENDITURES. If Grentor falls (AI to keep the Property free Df all taxee, Jlllns, seourIty Intarest8, encumbrances, and other claims,
(51 to provIde any requlrad In4lurance on thQ Property, or ,(C) to maka repalrll to the Property then Lender may do so. If any action or
proceeding Is commenced thllt would meterlally effect Lender'8 Intereeta In the Property, then lender an Grantor'e bel1elf may, but Is not
required to, taka any actìon that Lender bDI1eve8 tD be appropriate to protect Lender'e Interests. All expanses Incurred Dr paid by Lønder for
such purpoaes will then bear Interest at the rate cherg8d under the Note tram the date Incurred or paid by lander to tl1e date of repayment by
Grantor. All lIIuch expenees will becDme a part of the Indebtedne88 and, at lender's option, will (AI be payable on demand; (S) be added to
the balence of the Note and b8 /lpportloned among end b8 payable wIth any Installment payments to become due durIng either (1) the term 01
any applicable in8ursnce policy; or (2) the remaining tarm of the Note; or ICI b/l treated /IS a balloon payment which will be due and payeble
at the Note', mlturlty. The Mortgege /lleo wlllalloure p/lymint of theia amounts. The rlgl1te provIded for In this paragreph shall be In addition
to any other rights or any remedlee to which LInder msy be entitled on account of any default, Any suoh sotlon by Lender ehall not be
cona:trúed 8S curing the default ao as to bar lender from /lny remedy that It otherwløe would have had,
WARRANTY; DEFENSE Of TITLE. The following provisions ralatlng to ownership of the PropertY ere a part of thiS Mortgage:
Title, Grantor W8rrants th/lt: lal Grontor holds good and merketable title of rl!cord to the Property In fIe elmple, free end olear of allliena
and encumbrancas other than tl1oelll58t forth In the Real Property deacrlptlon Dr In any title Insurance policy, title report, or final ttrle opinion
188ued In favor of, end accepted by, lendsr In conneotlon with thl8 Mortgage, and (b) Grentor hu the full right, pDwar, and suthorltv tD
execute end deliver thh, Mortgage to lender.
Deren81i1 of TItle. Subject to the exceptIon In the paragraph above, Grantor warrante and will fDrever defend the title to the Property agalnet
the IBwful claims of ell pareons. In the event eny action or proceedIng Is commenoedthat quelltion8 Grantor's title Dr the Interest of Lender
under this Mortgage. Grantor ihall defend the aotlon at Grantor'i expense. Grantor may be tha nominal perty in such proceeding, but
Lender shall be entitled to partlolpatll In the proceedIng and to be representsd In the proceeding by cDuneel of linder's own choice, and
GrentDr will deliver, or ceuae to be dellvared. to Lander lIIuch Inliltrument, 8e lander may reque8t from time to time to permit suoh
pertlclpatlon.
Compliance With lllws. Grentor warrðnts that the Property and Grantor's uee of the Property oomplle8 with all exlatlng eppllcebla laws,
ordJnenoe8, and regulations of gov8rnmentel authorities.
6utvival of Promlaee. All promises, agree mente, and 8tatem8nta Grantor hee made In this MDrtgage shall survive the axecutlon ClOd delivery
Df thlB Mortgage, .hall be continuing In n8ture and shall ramaln In full force and effect until auch time 88 Grantor's Indebtedne8a 1111 paid in
full.
CONDEMNATION, The following provisions relating to condemnation proceedings are e pert of this Mortgege:
ProD..dlngl. If any proceeding In condemn/ltlon Is filed, Grentor shall promptly notify Lender In writing, and Grentor ehall promptly take
suoh atepa 8S may be nece8l11ary to defend the action and obtain the award. Grantor may be tha nominal party In such procaedlng, but
lender shall be entItled tD partlolpate In thø proceeding end to be repreaented In the proceeding by coun8el of Its Dwn oholce, and Grentor
will deliver or cause to be delivered tD Lender lIuch Instrumante and dooumentatIon alii may be requested by lender from time tD tlm/l to
permit iuch pertlclpatlon.
Applicllrtion (Yf Net Proc.eds. If all or any psrt ot the PrDperty Is condemned by eminent domain proceedings or by any proceeding or
purcha8e in lieu of condemnetlon, Lender mey et Ite eleotlon require that /III or Iny po.rtlon of the net proceede of the award be applied to
the Indebtedne8i or tha repair or reetoratlon of the Property. The net proceedll of the aWlrd shall mean the award /lftir p/lyment of all
reasonable coati, IIxpeneelll, and attorneya' fees incurred by lender In connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provleloni relating to governmental taxes,
fM8 and chergee are a pert of thle Mortgage:
Current Taxes. F.., end Chergelll. Upon request by Lender, Grantor shall execute such documents In eddltlon to thl8 Mortgage end t/lke
whetever other /lctlon Ie requested by Lender to perfect end continue Lendar'a lIel1 ontl1e Rael PropertY. Grantor shall reimburse Lender for
all taxes, as desorlbed below, together with ell expensee Incurred In recording, perf6ctlng or continuing this Mortgage, including without
limitation 411 tax8a, fella, dooumentery atsmp8, end other cherg88 10r recording or regleterlng this MDrtgage.
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Jun-20-2008 -- -- PM Firšt'Bañk 307-654-3623
v....... ...... ............ .,...-......,.....
9/31
Loan No; 764006184
MORTGAGE
(Continued)
ÜOÛ299
Page 3
Taxes. Tha following ehall constItute taxes to whIch thie section applies: (1) /I specific tllX upon this type of Mortgsge Of upon 1111 or any
psrt of the Indebtedness ",cured by thle Mortgoge; (2) a speolflc tllX on Grsntor which Grsntor Is authorlled or required to deduct from
payments on the Indeb'tedne89 secured by this type of Mortgsge; (3) s tSK on this type 01 Mortgsgs chllrgeable sgalnst the Lender or tha
holder of the Note; and (4) II epeclflo tSK on all or any portion of the Indebtedness Of on p"ymentll of principal and Interest mad. by
Grantor.
Sub.eequent T.xee. If any tsx to which this section applies Is enected aubsequent to the date of thle Mortgage. thl" eventllh.1I heve the
sams effect ae an Evsnt of Default, end lender msy exercise any or all of ite IIvsll"ble femedlell for IIn Event of Default as provided below
unlelJs Grantor elth8r (11 peys the tex before It becomss delinquent, or 121 contellta the t!lX as provld8c1 IIbove In the Taxe8 lind Llene
section end d8potlitll with lender caeh or II lIufflcient oorpor!lte surety bond or other security satlsfaotory to lender.
SECURITY AGREEMENT: FINANCING STATEMENTS. The following provisions relet1ng to thlll Mortgllge es e sscurlty agreement lire II part of
tlllll Mortgllge:
Seourlty A"rument. Thill Instrument ehall constitute a Security Agroement to the extent any of tile Property oonetltut8e fixtures, IIncl
lender shllll have all of the rights of 0 seoured Pllrty under the Uniform Commercial Code as amended from time to tIme.
Security Intere"t. Upon requ811t by lender. Grantor shall teke wh51evef action Is requested by lender to parfact snd continue Lender'a
8acurlty Intereat In thll Persons I Property. In addition to recording this Mortgage In the real property records, lender may, at any time IInd
without furthor lIuthorlzatlon from Grantor, fUs executed countørparts, cople8 or reproductions of this Mortgage 811 II flnllnolng IItlltement.
Grllntor shsll relmburae lender for all axpenses Incurred In perfecting or continuing this security Int8rest, Upon default, Grlintor Bhell not
remove, lIeYer or detech the Personal Proparty from tile Property. Upon default, Grantor IIhallassemble any Pllreonal Property not sfflxed
to the Property In a manner and at II plllce reasonably oonvenlent to Grantor and Lender and meke It aVlllleble to Lsnder wltllln thfee (3)
days aftar rllcalpt of wrlttsn dsmand from lender to tho extent permitted by IIppllcable law.
Addre...s. The mlllllng addreSBe8 of Gr"ntor (debtor) and Lender (secured party) from which informatIon concerning the seourlty Interest
grsnted by this Mortgage mllY be obtained (esch 1111 required by the UnIform Commercial Codll) are 8S IItatlld on the first page of this
Mortgsge.
FURTHeR AS6URANCES; ATTORNEY-iN-FACT. The followIng provisIons relating to further assurance" and attorney-In-fact ere a part of thIs
Mortgage:
Further A..uranoel. At any time, and from tlmll to 11me, upon reQusst of Lender, Grantor will make, 8xecute end deliver, or will csuse to
be macle, exocuted or delivered, to L8nder or to Lender's designee, end when requalltsd by Lender, caulle to be filed, recorded, refiled, or
rsn,corded, 88 the caBS may bll, at such tlmell and In suoh offlcas IInd plecell as Lender may deem approprlste, any and all such mongagss,
deeds of trust, 118curlty deeds, security sgreerT10nt8, financing stlltemantll, continuation stetBmsnts, Instruments of furthlir 88surance,
certltfclltea, and other dooumenta all mllY, In the sole opinion of Lendllr, be necellllary or desIrable I/] order to effectuete, oomplste, perfect,
continues, or preserve (1) Grantor's obligations under the Note, thlll Mortgege, and the Related Documents, and (21 the liens and
securfty Interests created by thlll Mortgage S8 first and pflor liens on the Property, whether now owned or hereeftèr acquired by Grantor.
Unlees prohlbltsd by law or Lender agrees to th8 oontrary In wrIting, Grantor 6Ihall reImburse lllndsr for all COlltll and 8XpenSel!: Incurred In
oonneotlon with the metters referrod to In this pllrllgrllph.
Attorney-ln-Fa(Jt. If Grantor flllls to do sny of the things referred to In the preceding paragraph, Lend8r mðy do so for end In the name of
Grllntor and at Grsntor's expenlls. For such purposes, Grantor hareby Irrevooably IIppolnts Lender 8S Grantor's attorney-In-fect for the
purpose of msklng, eX8cutlng, deliverIng, filing, recording, and doIng all other thIngs es may be ne08ssery or delllreble, In lender'lI sole
opinion, to !lccomplish the mattars referrsd to In th8 preceding paragraph.
FULL PERFORMANCE. If C3rllntor PIlYs ell the Indebtedness whsn due, encl otherwise perlorme all the obllgðtlonll Imposed upon Grantor under
this Mortgage, lender shell sxsoute snd dellvar to Grantor a suitable utisfactlon of this Mortgege end eultllble 8tstements of termination of any
flnanolng 8tlltsment on file evidencing Lendef'lI Bacurity Intsrsllt In thð A8nta and the Personal Property. Grantor will psy, If permitted by
IIppllcllble lew, any faasonðble termination fee 8a determined by Lender 1rom time to time.
EVENTS OF DEFAULT, At lender'lI option, Grantor will be In default undor thIs Mortgege If any of the following hðppen;
Payment D,fault. Grantor fslls to mðke any payment when dua under the Indebtedness.
Default on Other Payments. Failure of Grsntor within the. time requIred by this Mortgsge to mak.e liny payment for tlxes or Insuranoe, or
IIny other payment nllceasllry to prevent filing of or to strect dischafge of any lien.
Break Other Promlsss. Grantor break.s any promIse made to Lllnder or falls to perform promptly at the time and IItrictly in the msnner
provided In this Mortgegs or In any agreemllnt relllt8d to this Mortgage.
Falee Statementø. Any representatIon or statement mads or fumlshed to lender by Grantor or on Grsntor's bohalf under thIs Mortgage or
ths Relstad Doouments Ie fail,e or mfeleadlng In eny mlloorlel respect, either now or at the time msde or furnillhed.
Defective Collateralintlon. This Mortgege or any of the Related Documents oeases to bs In full foroe and effeot Unoludlng fellure of snv
collaterel dooument to orute a valid and perfeoted sscurlty Intereet or lIenl ateny time IInd for IIIny reeson.
Deeth or Insolvsncy. The death of Grantor, the Inllolvency of Grantor, the appolntmønt of a reoølvar for any part of Grantor's property, sny
88slgnmant for the benaflt of cr8dltorll, tIny type of creditor workout, or the commencement of any proceeding undsr any bankruptcy or
Ineolvency 18ws by or against Grentor.
Taking of the Property. Any oredltor or governm8ntel agency trlelJ to tllklJ IIny of the Property or any other of Grantof's property in which
lender hlle II lien. Thl8 Includes taking of, garnishing of or levying on Grantor's sccounts with Lender. However, If Grsntor dIsputes In
good fslth whether the claim on which the takIng of the Property Ie b!lsed la velld or reesoneble, IInd If Grllntor gIves Lender written notice
of the claIm end furnlah8e lender with monies or II surety bond 8atlafactory to lender to ,atlllfy the clslm, then this deft!ult provlelon will
not 8pply.
Breeoh of Other Agr..ment. Any breaoh by <3rllntor uncler tll8 tllrma of any other agreement between Grantor and lender that ill not
remsdled withIn any gracø petlod provided thareln, Including without limitetion sny agreament concerning any Indebtedness or other
obligetion of Grentor to lender, whether exllltlng now or luter.
Event, Affectln" Guarantor. Any of the preceding øvønts ooours with rllspeot to any gUllrsntor, endore8r, surety, or sccommodBtlon psrty
of !lny of the Indebtadne8a or sny gusrantor, endorser, surety, or accommodatIon party dies or becomes Incompetent, or revokes or
dl"putell the vBlldlty of, or liability under, any Guaranty of the Indebtedness.
Inleourlty. Lender In good faith believes It"lIlf Inaecure,
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Evsnt of Døfault and at any time thereafter, lender, at lender'lI option, may
axarolse anyone or mors of ths following right" and rem8dl8S, In addition to any other rlght8 or remedlee provided by law:
Accelerate Indebtadne... Lender shall have the right at Its option without notice to Grt!ntor to declare the entire Indebtedness immediately
due and paYllble, Inoludlng any prspsymem penlllty that Grantor would be required to pay.
UCC Remedies. WIth reepect to all or Bny part of the Personal Property, lender IIhllll have all the .rIghts end remedies of a sscured party
under the Uniform Commarolal Code.
Collect Rente. Lender shell have the rIght, wIthout notloe to Grantor, to tllke poasesslon of the Property, Including during tha pendenoy of
foreclosure, whether Judlclel or non-Judlc/al. and oollaot the Rente, Including IImounte past due and unpaid, end apply the net proceeds, over
and IIbove lender's coatll, agalnllt the Indllbtednea6. In furth8rllnca of thIs right, lender may requIre any tenant or other uller of the
Property to make payments of rent or ulle fus dlreotly to Lender. If the Rents ere collected by lender, then Grantor IrrevOCllbly deølgnate8
Lender ee Grt!ntor's attorney-in-fect to endorBa In6trumentll received In pllyment thereof In the name of Grantor IInd to negotiate the lIame
and oolleot the proc8ede. Peymentll by tenenta or other uaera to lender in responee to lender's demllnd IIllslI satiety the obllgatlonll for
whloh the pllyment8 ere made. whether or not any prop8r grounde for the demand Ixlsted. Lender msy exercise It II rights under this
Bubpsragraph either In person, by egent, or through a reoelver.
AppoInt Reoelver_ Lsnder IIht!1I hllve the right to hevlI e reoelVllr IIPpolnted to take possession of 811 or tiny part of the Property, with the
power to proteot Bnd prsserve the Property, to operate the Propefty pfecedlng foreoloaure or s8le, and to oolleot the Rente from the
Pfoperty and epply the proceed8, over end above the cost of the receiverllhlp, against the Indebtednesll. The reclllver may serve without
bond If permitted by IlIw. Lender's right to the appointment of a receiver shall exIst whether or not tha eppllrent value of the ProPllrty
'''''do ,", Ind,""'do", by, """"0"" 'm,"",. Em,'oym'''' by''"'''' "," 0" ,",,,'lfy · '''''0 from """0' " · """.". fl uJ
fv2
Loan No: 764005184
MORTGAGE
(Continued)
(·00300
Page 4
Judlolal Foreclosure. Lender may obtain a Judicial decree foracloalng Grantor'a Interest In all or any part of the Property.
Nol'\Ïudlollll S..le. Lender may foreclose Grantor'a Intereat In ell or In any part of the Property by non·Judlclal sale and 8peolflcally by "powar
of ule" or "advertisement and 8ale" torecloaura liS provided by statute, '
DlI1lciency Judgment. If parmltted by appllcllble law, lendar may obtain a Judgment for eny deflolenoy remBlnlng In the Indebtedneaa due
to Lender after application of all Bmounta raceived from the exarclse of the righta provided in this aectlon.
Tenency Bt Sufl'1lrance, If Grantor remaln8 In p088es810n of the Property aftar the Proparty la aold BB provided above or Lender otherwlsa
becom88 antltled to posseaslon of the Property upon dafault of Grantor, Grantor shall become a tenant at 8ufference of LendBr or the
purchaser of tha Property and shall, at Lander's option, alther (1) pay B raesoneble rentel for tha use of the Property. or (2) vacate the
Property Immadlately upon thea demand of lender.
Other Remedllle. lendar shall have all other rIghts and remlldllla provldad In this Mortgage or the Note or available st løw or In equity.
Sale of tha Property. To thll extent permitted by applicable lew, Grllntor hereby waIves eny and all rIght to hBva the ProperlY marahalled.
In eXllrclalng its rights and remedies, Lender IIhell be frea to 8ell all or eny part of the Property together or aeparBtely, In one 8ale or by
lIeparate 8Iles. lender ahlll! be entitled to bid a~ eny public Bal8 011 all or any portion of the Property.
Notice of SlIle. Lender will give Grllntor reasonable notice of thll time IInd place ot any public aale of the Personsl Property or of the time
after whloh sny prlvllte sale or other intended dlep081tion of the PereonaJ Property Ie to be mede. Aeallonable not/oe ehllll me8n notloe
glvan lit leest tan 1101 days before the tIme of the sele or dlspollltion. Any sale of the Pereonal Property mllY be mllde In conjunction with
IIny 8ele of tha 1'1881 Property.
Election of Remlldln. All of Lender'a rlghtll and remedleø will be cumulative and may be exercised alone or together. An election by
lender to ohoose IIny one remedy will not ber lender from using any other remedy. If Lander deoldu to 8pend money or to perform eny of
Grllntor'lI obligations under thlll Mortgage, after Grantor's failure to do so, thllt decialon by Lender will not affeot lllnder'lI right to deolllre
Grantor in default and to exerciee Lendar's remedies,
Attorneve' Fe..; Expen..s. 11 lender inltltutea anv eult or action to enforce any of the terms of thlll Mortgage, lender shall be entitled to
recover auoh sum liB the court may adjudge rll1l80nable aB ettornaye' feee at trial and upon eny appeel. Whether or not IIny court action Is
Involved, and to the extent not prohIbited by law, all relleonable expenees lender Incure that in Lender's opinion /Ire nece88ary lit any time
for the proteotlon of Its Intereat or the enforcem8nt of Its rights shell become a part of tha Indebtednees peYBble on demand end ehell beer
Intereat lit the Note rate from the date of tha expenditure until repaid. Expenses covered by this paragreph Include. without limitation,
however eubJect to eny limlta under sppllceble lew, Lender'ø r8890nable ettorneys' feee and lender'e legal expeneee whethar or not there ie
II lawsuit. IncludIng reaaoneble attorneys' feeø and eXpenoee for bønkruptoy proceedlnge (including efforts to modify or vecllte any
automlltlo atey or IllJunctionl. eppallls, and any antlclpeted post-Judgment collection lIervlces, the ooat of eeerchlng records. obtlllnlng title
reportll !including foreolosure reportli), eurveyora' reporta, end IIpprajaal feea and title Inaurance, to the extent permlued by applicable lew.
GrBntor also will pay eny court COBt8, In IIddltJon to all other eums provided by law.
NOTICES. Any notice r8qulrad to be given under thia Mortgllge, Including without limitation IIny notice of default end any notloe of 881e ahall be
given In writing, IInd shðll be effective when lIotually delivered, when ectually re081ved by telefðcelmile (unle8e otherwlae requIred by law), when
deposited with a nationally raoognlzed overnight courier, or, If mlllled, when depoalted In the United States mllll, aa fir8t cla4l8, certified or
registered mell poatage prepaId, directed to the addr88ses IIhown near the beginning of this Mortgage. All copie8 of notlcllS of foreolosure from
the holder of IIny lien which hea priority over this Mortgage ahall be sent to Lender'a sddrese, es shown nesr the beginning of this Mortgage.
Any person mey ohange his or her addree8 for notlceø undør this Mortgagø by giving formal written notice to tha other person or parsons,
speolfylng thllt the purpose of the notice 18 to ohangs the pelllon's address. For notlcø purposes, Gral1t'Or IIgreell to keep Lender Informed at all
times of Gr8ntor'8 current address. Unless otherwll1e provided or required by law, If thllrll ,Is more then one Grantor, IIny notloe given by lender
to IIny Grantor la deemsd to be notice given to ell Grantors. It will be Grllntor's responsibility to tell the others ot the notIce from lender.
MISCELLANEOUS PROVISIONS. The followIng miscellaneous provlalonø are a part of thla Mortgage:
Amendmentll. What Is written In this Mortgoge and In ths Aslllted Documenta 18 Grantor'a øntlre agreement with Lender concernIng the
mlltters oovered by this Mortgege. To be effectIve. any change or emøndment to thIs Mortgsge must be In wrIting end muat be ølgned by
whoever will be bound or obligated by the ohange or IImendm8nt,
Caption Headings, Caption headinga in thia Mortgage are for oonvenlenoe purposea only and are not to be used to interpret or define the
provisions of thl8 Mortgegø.
Oovernlng lsw. Thle Mortgage will be governlld by federellaw applloable to Lender and. to the extBnt not preempted by fed8r8118w, the
IBWS of the SteÍAI of Wyoming without regard to Its oonfllcts of law provlslona. Thia Mortgage has been aooepted by lendar In the 81'.111.11 at
Wyoming.
Choloe of Venue. If there Is II laweult, Grllntor sg~es upon Lender'e requeat to eubmit to the jurladlctlon of the oourta of Llnooln County,
State of Wyoming,
Joint and Several Uablllty. All obllglltlono of Grantor under thIs Mortgllge IIhllll be JoInt and seversl, IInd 1111 reference8 to Grantor ehall me8n
eaoh and every Grantor. Thle means that each Orllntor sIgning below Is reeponalble for all obllgationll in this MortgBge.
No Waiver by lender. Grantor under8tnnda Lender will not give up any of Lender's rights under thlll Mortgage unless Lender doea 80 In
wrItIng. The flot that Lander delays or omlt8 to exerc!1I8 any right will not me"n tha~ lender hlle given up that right. If lender does agree
In writing to give up one of lender's rlghte, that doee not mean Grantor will not have to comply with the othar provlalonB of this Mortgage.
Gr8ntor 8180 under8tende thBt if lender does coneent to a requøst, that does not møon that Gran!;Or will not have to get lender's conllent
again It the situation happens IIgaln, Grllntor further underatllnds that Wlt beceulle lender coneente to one or more of Grantor'e requests,
thet doee not mean Lender will be required to consent to any of GrBntor'e future requests. Grentor wBlvea prea8ntment, demend for
peyment. proteøt, end notlca of dishonor. Grantor wlllves 1111 rights ot exømptlon from exeoutlon or IIlmllar "!lW In tha Property, and Grllntor
agreea thllt the rights of Lender In the Property under thl8 Mortgage lire prior to Grsntor's rights while this Mortgage remains in effect.
Sever.blllty. If a court finds that any provision of this Mortgage Is not velld or should not be enforced, thllt fact by Itself will not meen that
thø reat of this Mortgllge will not be valid or enforced. Therefore, a court will enforce the rest of the provisions of thle Mortgage liven If a
provlllon of thl. Mortgage may be found to be Invelld or unønforcøablø.
Merger. There ehell bs no merger of the Interest or estate created by thlll Mortgage with eny other Interest or estate In thll Property at IIny
time held by or for the benaflt of Ler¡der In any oapaclty. without the wrluen oonllent of Lender,
Suooessors and Assigns. Subject to IIny IImltstlona 8tsted In this Mortgage on tranøfèr of Grantor'a Interut, this Mortgege shall be bindIng
upon snd Inure to the bsneflt of the psrtlea, their QuCCe8eorø and B8slgne. If ownership of tha Property becomea veet8d In a person other
than Grantor, Lendar, without notlca to Grantor, may desl with Grantor's succeesora with reference to thia Mortgllge end the Indebt8dns88
by way of forbearanoe or extension without releeslng Grantor from the obligationa of thIs Mortgnge or liability under the Indebtednell8.
Tlmale ot the el/ssnce. TIme III of the enence In the parformanoe of thle Mortgllgll.
Waiver of Homeatllad exemption. Grllntor hereby relsllsee IInd wlllve8 all rights and benefita of the hom.stud exemption lawe of the $t3te
of Wyoming as to alllndebtedneea eecured by thla Mortgage,
DEFINITIONS, The following words shall hllve the following meenlnga when ualld In thle Mortgage:
Borrower, The word "Borrowllr" mellna PETER l WELKER and PAIGE A WELKER end Inoludes 1111 oo-slgnllra and co-mel(erll signing the
Note end all their successors and 8Sslgna.
Envlronmentel Lew.. Thl wordø "Environmental Lllws" mean any nnd 1111 stllte, fedarlll IInd local stlltutea, reguletlon. and ordlnanoas
reletlng to the protection of humlln health or the envIronment, Inoludlng without IImltlltlon the Comprehenelve Envlronmøntlll Rasponae,
Compen8atlon, IInd Liability Act of 1980, aa amended. 42 U.S.C. Section 9601, et 8eq. ("CERCLA"I, the Suparfund Amendments end
Reeuthorlzlltlon Aot of 1986, Pub, L. No, 99·488 ["SARA"I, the Hllurdoue Materials Transportation Aot, 49 U,S,C. Section 1801, et seq.,
the ResourOIl Conservation and Recovery Aot, 42 U.S.C. Section 6901, et lIeq., or othar eppllcable etete or federel IIIWS, rules, or
regulatlone sdopted pureuent thereto.
Event of Deflluh:. The words "Event of Default" mlan any of the eventa of de111ult set forth In this Mortgage In the eVente of default
seotlon of thla Mo~gage.
Grantor. The word "Grantor" meøn8 PETEA l WELKER IInd PAIGE A WELKER.
ftl/
~~
Jun-20-2008 n1 ~r PM First Bank 307-654-3623
11/31
loan No: 764006184
MORTGAGE
(Continued)
ûOû301.
Page 6
Gueranty, The word "Guaranty" meana the guaranty from guerantor, endorser, 8urety, or accommodation party to Lender, IncludIng
wIthout limitation e guarenty of all or port of the Note.
Halardous Sub$tancel. The Words "Ha18rdoua Sublltences" meen materiels that, because of their quantìty, ooncllntrøtJon or phYlloøl,
chemlcel or Infeotlous charaoterlstlCII, may cause or poae a present or potential haurd to human heelth or the envIronment whlln
impropllrly used, treated, etored, disposed of, generated, manufaotured, tranaported or otherwlea handled. The wordlJ "Huerdoul
Subatenou· are used In their very broadest senae and Include without limitatIon any and sll ha;r.ørdous or toxlo substanoes, material, or
woste a8 deflnød by or listed undør the Envlronmentsl Lews. The term "Hazardous Subatances" also Includes, wIthout limItation. petroleum
and petroleum by-products or any fraction thereof and osbestoll.
Improvements. The word "Improvements" m88ns ell exllltlng end future Improvemente, buildlng8, etructureø, mobile homes sfflxed on the
Reel Property, focllItlell, additions, replacemente and other construction on the Real Property.
Indsbtednen. The word "Indebtedneu" means all prIncipal, Interest, and oth8r amounts, costs ond expens8IJ pay"bl8 under the Note or
Related Documante, together wIth all renew"ls ot, extsnslone of, modifications of, consolidatlone at and substItutIon. for thll Note or
Related Doouments and any amounts expended or advanced by lender to diacherge Grantor's obllgstlons or expel1sea incurred by lender to
enforoe Grantor'a obllgetlons under thle Mortgage, together with Interest on suoh amOUnts 68 provided In This Mortgage.
lender. The word "Lander" means 10t Bank, Its succesllorll end ellelgns. The words "suooeseora or asargne" mean any pereon or
compeny thaT ecqufroe any Interest In the NOTe.
Mortgage. The word "Mortgage" møøne thIs Mortgage b8tween Grantor end Lender. .
Nota_ The word "Note" meane the promissory note datsd June 20, 2008, in the original principal amount of $301,706.71 from
Grentor to Lender, together with aU renewels of, extensions 01, modlflcatlonll of, reflnencingll of, oonaolldatìonø of, IInd aubltJtutlons for
the promissory nota or agreement,
Pefeonal Property. The words "Personal Properw" mean all equipment, tlxtureø, and other articles of personal property now or hereafter
oWl18d by Grantor, snd now or hereeftar ettached or efflxed to tha Real Property; together with !III eccellølons, parte. and eddlTlons to, all
replacemants of, snd aU substltutlone for, any of such property; and togethar with all proceeds (Including wIthout IImltetlon ell Insurance
proceeds and refunde of premiums) from any eale or other dispositIon of the Property.
Property. Tha word "Property" meens colleotlvely the Reel Property and the Personal Property.
Real Property. The words "Reel Propørty" mean the reel property, Interaetll and rights, se turther deøorlbad In thIs MO!tgegl.
Related Documenm. The words "Related Dooumente" mean all promle$ory notes, credit egreements, loan egreemente, envIronmental
agreemants, guerentløs, sacurlty agreemenœ, mortgages, deede of truet, security deade, colleteral mortgages, and ell other instrumønts,
agreements end documentl5, whether now or hereafter exletlng, executed In oonnectlon with the Indebtedneea.
Rent.. The word "Rents" means all present !lnd future rents, revenuee, Income, ¡nuea. royeltlee, protlts, and other beneflta derived from
th8 Property_
EACH GRANTOR ACKNOWLEDGES HAVING READ AI..I.. THE PROVISIONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES TO Irs
TEAMS.
GRANTOR:
x~(l~
PAIGE A WELKER
~~ ~-<Á--
EL ER
STATE OF ~~3
COUNTY OF ..
INDIVIDUAL ACKNOWlEDG~ENT
I
ss
CHERYL A. JONES - NOTARY PUBLIC
County 01 .. Stato 01
Lincoln Wyoming
My Commission Expires Feb. 4, 2009
On this day before me, the underølgned Notery Public, perllonelly appeared PETER l WELKER and PAIGE A WELKER. to me known to be the
Individuals d880rlbed In and who exeouted the Mortgsge, and eoknowledged that thay signed the Mortgage e8 their free end voluntary aot and
deed, for the usea and purposes In mentioned. ~ \ ( '\r\, ~
III thIs day or -Jv\ ,e. .200 () .
Re.ldlngBt u\\oAX'\ ~
~'"4~
,
My commfnlon 8"plres
LASER PRO LendIng, Ver. 6.40.00.003
Copr. Harland Flnanolel SoluTions. Ino. 1997, 2008.
D:\LA8ERPRO\FNB\CFI\LPL\<303.FC TR-772ð
All Rights Reservad.
- Wy