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HomeMy WebLinkAbout940598 '" RECORDATION REQUESTED BY: 1st Bank Alpine 79 Highway 89 P.O. Box 3110 Alpine. WY 83128 RECEIVED 7/16/2008 at 4:43 PM RECEIVING # 940598 BOOK: 700 PAGE: 232 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY WHEN RECORDED MAIL TO: 1 stll8nk Alpine 79 Highway 89 P.O. Box 3110 Alpine. WY 83128 SEND TAX NOTICES TO: 1at Bank Alpine 79 Highway 89 P.O. Box 3110 AIDlne. WY 83128 000232 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY CONSTRUCTION MORTGAGE THIS MORTGAGE dated July 1, 2008, is made and executed between MARK D CAMERON, AS SOLE OWNER (referred to below as "Grantor") and 1st Bank, whose address is 79 Highway 89, P.O. Box 3110, Alpine, WY 83128 (referred to below as ·'Lender"). GRANT OF MORTGAGE. For velueble conslderetlon. Grentor mortgegas and conveya to Londer oil of Grentor's right. title, end interest in end to the following described resl property, together with. ell existing or subsequently erected or afflxad buildings, improvements and fixtures; all easements. rights of way. and appurtenances; ell water, water rlghta. watercourses and ditch rights \including stock In utilities with ditch or irrigation rightsl; and all other ri~hts, roy.ltlea.and profits relatinv to the real property. including without 1I",ltstion all minerals. oil, gas. geothermal and similar matters. (the "Real Property") located In LINCOLN County, State of Wyoming: See EXHIBIT" A", which Is attached to this Mortgage and made a part of this Mortgage as if fully set forth herein. The Real Property or itS address is commonly known a8 HAII!GERS, EXECUTIVE HANGERS CONDOS, WY. Gr.ntor prasently assigns to Lender all of Grantor's right, titls, and Interest In and to sll prossnt and futuro lo..es of the Property ond all Rants from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security Interest in the Personal Property and Rents. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE IAI PAYMENT OF THE INDEBTEDNESS AND IBI PERFORMANCE DF ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided In this Mortgage, Grentor ehall pay to Lender all amounts secured by this Mortgage as they become due and shall strictly perform all of Grantor'. obligations under this Mortgaga. CONSTRUCTION MORTGAGE. Thla Mortgage is a "construction mortgaga~ for the purpo.as of Sections 9-334 end 2A-309' of· the Uniform Commarclal Code, as those .ectlons have been adopted by the State of Wyoming, POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor egrees that Grentor's p086esslon and use of tha Property shall bo govarned by the following provisions: Po.....ion end Ua.. Until the occurrence of an Event of Default, Grantor may (1) remain in possession end control of the Property; 121 use, operate or manage the Property; and (3) collect the Rents from the Property. Duty to Malm.ln. Gra.ntor .shall maintain tha Property In good condition and promptly perform all rapalrs, replacements. and maintenance necessary to preserve its value. Compliance With Environmental Laws. Grantor reprasents and warrants to Lender that: (1 I During the period of Grantor'aownarshlp of the Property, there he. been no use, generation, menuf.cture, storage. treatment, disposal. release or threatened release of any Hazardous Substence by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reuon to believe that there has bean, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b any usa, generation, manufacture, storege. treatment, disposal, ralease or threitened releaae of any Hazardous Substance on. undar, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by .ny person relating to such matters; and (31 Except as previously disclosed to and acknowledged by Lender in writing, . (a) neither Grantor nor any tenant,- contractor. ogent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, .bout or from the Property; and (bl any such activity shall be conducted in compliance with all applicable federal. state, and local laws, regulations and ordinances, including without limitation all Environmentel Laws. Grantor euthorize. Lender and it. agents to entar upon tha Property to make such Inapectlons and testa, at Grantor's expense, as L.nder mey deem appropriate to determine complianèe of the Property with this section of the Mortgage. Any Inapectlons or tests mede by Lender shall bo for Lender's purpoaes only and shell not be construed to create any responsibility or liability on the part of Lendar to Grantor or to any other person. The representations end warranties contained h.rein are based on Grantor'a due diligence In Investigating the Property for Hazardous Substances. Grentor hereby (11 releeses and waives any future claims ageinstLender for indemnity. or contribution In the event Grantor becomes liable for cleanup or other costs under eny .uch lawa; and (2) agrees to. indemnify. defend, end hold hermlesa Lender against any Bnd all claims, losses, liabilities, damages, penalties, and expenses' which Lender may dlre¢tly' or indirectly sustain or auffer reeulting from a breach of this section of the Mortgage or as a consequence of any use, generation, manufacture, storage, di.posel, releese or threatened releasa :occurrlng prior to Grantor'. ownership or ·Intere.t"ln the Property. wh.ther or not the. same waa or should have been known to Grantor. The provisions of this section of the Mortgage, Including the obligation to'lndemnity and defend. .hall survive the payment of tha Indebtedness and the satisfaction and reconveyance of tha lien of this Mortgage and shall not be affected by Lender'·s acquisition of any iO'terest in the Property, whether by foreclosure or otherwise. Nuisance. Westa_ Grantor shall not ceuse, conduct or parmit eny nuisance nor commit, permit, or sutler any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoing. Grantor will not remove, 'or "grant to any other party the right to remove, eny timber, minerals {including oil and gesl, coal, clay, scoria, soli, gravel or rock products without Lender'aprior written consent. Removal of Improvemants, Grantor shell not demolish or remove any Improvements from the Real Property without Lender's prior written consent. As a condition to the removal of any Improvements. Lender may raquire Grantor to make arrangemants satisfactory to Lender to replace such Improvemants with Improvaments of at least equal v.lue. Lender's Right to Entar. Lender and Lender's agents .end representatives may enter upon tha Real Property at .all reasonabla times to attend to Lend.r's interests and to inspect the Real.Property for purposes of Grantor's compliance with the terms and conditions of this Mortgage. Compllence with Governmental ReqUlr.monts. Grantor shall promptiy comply with all laws, ordinances. end regulations. now or hereaftar In affect. .of all governmental authoritias applicable to the use or occupancy of the Property, Grantor mey contest in good faith any such law, ordinance, or regulation and withhold compliance during sny proceeding. Including appropriate appeals, so long as Grantor has notified Lendor in writing prior to doing so and so long as. in Lendar's .ole opinion, Lender's interests In the Property are not Jeopardized. Lander may require' Grantor to postadequete security or e surety bond. reasonably setisfactory to Lendor, to protect Lender's intereet, Duty to Protlct. Grantor egrees neither to abandon or leave unattended the Property. Grantor shell do .11 other acts, In' addition to those acts set forth above .in this section, which from the cheracter end use of the Proparty are reasonably necessary to protect and preserve the Property. Loan No: 764005280 MORTGAGE (Continued) 000233 Page 2 CONSTRUCTION LOAN. .If some or all of the proceeds of the loan creating the Indebtedness ar. to be us.d to construct or complete construction of sny Improv.m.nts on ths Prop.rty, the Improv.m.nts shsll be complet.d no later than the maturity dste of the Note (or auch earlier date es Lender may reasonabiy astabllsh and Grantor shall pay In full all costa and ·expenses In connection with the work, Lender will disburse loen proceeds under such terms tlnd conditions as Lendar may deem reasonably necessary to insure that the Intllrest craat.d by thia Mortgage shall hsve priority over all possible liens. Including those of material suppliers and workmen. Lender may require, among other things, that disbursement requests be supported. by receipted bills. expsnse sffidsvlts. wslvers of ilsns. construction progrsss reports, and such other documentation as Lender may ressonably request, DUE ON SALE - CONSENT BY LENDER, Lender msy. at Lender's option. declere ImmedletelY due end peyable ell sums secured by this Mortgege upon the sals or transfer. without Lender's prior written consent, of all or sny psrt of the R..I Prop.rty. 0' .ny int.r.st In the Real Property. A 'ssle or trensfer' means the conveysnce of Real Property or any right. title orlntar.st in the R.al Proplirty; whether I. gal. ben.flcial or equiteble; whether voluntary or involuntary; wh.th.r by outright ..Ie. deed. Instailm.nt aale contract, land contract. contr.ct for d.ed, lees.hold Interast with a term greater than thr.. i3) y..ra. I....-optlon contract. or by aale, aselgnment. or trsnsfer of any baneficlallntereot In or to any land trust holding title to the Real Property, or by any othllr method of conveyance of an Int.raot In the R.al Prop.rty, How.ver. this option shail not be exercisad by L.endar if such exercise is prohibited by fedarsllaw or by Wyoming law, TAXES AND LIENS. Tha following provisions relating to the tax.s and li.ns on the Property are part of this Mortgege: paym.nt. Grantor ahall pay when due land in ell avents prior to delinquency) ali taxes, payroli taxes, special texes. assessments. water charges and sewer service charges levied against or on account ot the Property, and shall p8y·when due 811 claims for work done on or for services rendered or mat.rlal furnished to the Property, Grantor shell maintain the Property free of any liens having priority over or equal to the interest of Lender under this Mortgage. exc.pt for those liens sp.clflcaliy agreed to in writing by Lender. and except for the lien of texes and assessments not due as further sp.cifled In the Right to Contest paragraph. Right to Contes1. Grantor may withhold. paym.nt of any ta", ...essment. or claim in connection with a good f.lth dlsput. ov.r the obligetlon to pay, .0 long as Lender's Interest in the Property i. not jeopardiz.d. If a lien .ris.s or is fII.d as . r.sult of nonpayment. Gr.ntor shall within fift.en (15) days after the lien arises or, if a lien Is fII.d, within flfte.n 1151 days aft.r Grantor has notice of the filing. secure the discharge 'Of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufflcl.nt to discharge the lI.n plus eny costs and r.a.onebl. attorneys' f.es. or other cherge. that could accrue as a result of a foreclosure or sale under the lien. In eny contest, Grantor shall defend Its.lf .nd Lender and shell satisfy any adverse Judgment b.fore enforcem.nt ageinst the Property. Grentor shllll name Lender es an additional obligee under any aurety bond furnished In the contest proc..dlngs. Evidence of Payment. Grantor shell upon demand furnish to Lender aetlsfactory evidence of peyment of the t.xes or ISs.ssments end sh.1I .uthorize the .pproprist. governm.ntel official to deliv.r to Lender at any time a written statement of the t""es end .sses.ments against the Prop.rty, Notlc. of Construction. Grantor sh.1I notify L.nd.r at leaSI fifte.n (151 d.ys b.fore any work is comm.nced, any services arefurnish.d. or any materiels are supplied to the Property. if any mechenic'a lien. materialmen's lien. or other lien could be asserted on account of the work. service., or materials. Grantor will upon request of L.nder furnish to Lender adv.nce assurances sstisfactory to lender that Grantor can and will pay the coat of such Improvement.. PROPERTY DAMAGE INSURANCE. Th. following provisions relating to inaurlng the Property are a part of this Mortgage: Maintenance of In.ur.nce. Grantor shall procure and maintain policiss of fire insurance with standard eÄtended coverøge endorsements on a replecem.nt basis for the full Insureble value covering .11 Improvem.ntson the R.al Property in .n .mount sufficient to evoid .pplic.tion of sny coinsurance clause, and with a stendard mortgagee clause in favor of Lender, Policies shall be written by such Insur.nc.companies and in such form.. may be reesonably .cceptabl. to Lend.r. Grantor shall deliver to lender certificates of coverage from each Insurer containing a stipuletion thet coverage will not be canc.lled or dimlni.hed without. minimum of thirty (30) days' prior written notice to L.nd.r .nd not cont.lnlng eny disclaimer of the insurer's lIeblllty for failure to give such notic.. each insurance policy also shall Include en endorsement providing that coverage in favor 01 Lander will not b. impalr.d In .ny way by sny act, omission or d.fault of Grantor or sny othe' p.rson. Should the R.al Property be locsted In .n .r.. d.slgn.t.d by the Dir.ctor of theF.deral Emergency Management Agency e. . special flood h.urd .r.a, Grantor agrees to obtain .nd maintain Fed.rsl Flood Insurance. if svellable, within 45 days alt.r notice is given by Lender that the Property Is located in . special flood hazard ar.a. for the full unpaid principal balance of the loan and any prior lI.ns on the property securing the lolin. up to the maximum policy limits s.t under the Natlonel Flood Insurance Program. or as otherwise required by Lender, and to maintain such Insurance for the term of the loan. Application of Proc.eds. Gr.ntor shall promptiy notify L.nd.r of sny 10'. or damsge to the Property if the .stimated cost 01 r.palr or r.placement exceeds $1,000,00. Lender may make proof of loss If Grantor tails to do so within filtean (15 days of the casuelty. Wh.ther or not Lender'a security Is Impaired, Lender may, at L.nd.r's .Iection, receive and reteln the proceeds of any insurance end .pply the proceede to the reduction of the Indebtedness. payment of sny lien effecting the Prop.rty.or the restoretlon and repeir of the Property. If Lender elects to apply the proce.ds to restorstion .nd rep.lr, Grantor shsll r.pair or replece the demeged or destroy.d Improvements In s m.nn.r satlsfsctory to Lend.,. Lender shall, upon s.tiafactory proof of such expenditure. p.y or reimburse Grantor from the proc..da for the r.asonabl. cost of repair or r.stor.tion If Grantor i. not in d.feult under this Mortgage. Any proceed. which h.ve. not b.en disbursed within 180 dey.after their receipt and which Lender hes not committed to the repair or r.storation of the Property shall be used first to pay eny amount owing to Lender under this Mortgege. th.n to pay accru.d Interest, and the r.malnder, if any. shell be applied to the principal b.lence of the Indebt.dness. If Lender holds eny proc.eds after payment In full of the Indebtedneas, such proceeds shall be p.ld to Grantor 89 Grantor's Interests may "appear. LENDER'S eXPENDITURES. it Grantor falls (AI to keep the Prop.rty Ir.e of all taxes. liens,s.curlty Interests,encumbrances. and other claims, (S) to provide any required insurence on the Property. or (C) ·to make r.pairs to the Property th.n Lender may do so. If .ny ection or proceeding is commenc.d th.t would materially eff.ct L.nd.r's Interests In the Prop.rty. then l.nder on Grsntor's behalf may. but la not required to, take eny action thetLender beli.ves to b. epproprlate to protect Lend.r's interests. All expenses incurr.d or p.ld by Lend.r for such purpose. will then b..r inter.st at the r.te chsrg.d und.r th.. Not. from the d.te Incurred or paid by Lender to thedat. ol.ep.ym.nt by Gr.ntor. All such expenses will b.com. . part of the Indebtedn.ss and. at Lend.r's option, will (AI be payable on demand; (8). be added to the balence of the Note end be epportloned among and be peyeble with eny Installment p.yments to become due during .ither (11 the term of .ny applicable Insurance policy; or (21 the remaining term 01 the Note; or IC) be tr.st.d .. e balloon psym.nt which will b. due and payable at the Note's m.turity. Th. Mortgage .Isowill secure peym.nt of these amounts. The rights provided for In this paragraph shall be in addition to eny other rights or eny remedies to which Lender may be .ntitled on .ccount of .ny d.tsult. Any such .ction by Lender shall not b. constru.d as curing the default so .. to b.r Lend.r from any remedy th.t it otherwise would hsve had. WARRANTY; DEFENSE OF TITLE. Th. following provisions r.lating to ownership of the Prop.rty are e part of this Mortgage: Title. Grsntor warr.nts th.t: (.1 Grantor holds good and marketable titie 0' record to the Property In fee simple. free end cle.r 01 .11 II.ns and encumbrances other than those set lorth In the Re.1 Property d.scrlption or In enytltle insuranca policy, title report. or fine I title opinion issued"!n favor of,and accept.d by, L.nd.r in connection with this Mortgege, .nd Ibl Grantor hes the full right, power, and authority to ."ecut. end d.liver this Mortgage to Lend.r. Defens. of Tltl.. Subject to the e"c.ptlon In the parsgraph abov., Grantor werrants snd will forever defend the title ·to the Prop.rty against the lawful claims of sll p.rsons. In the event any .ctlon or proceeding la comm.nced ¡het questions Grentor's title or the interest of Lender under thl. Mortgage, Grsntor shall def.nd the action at Grentor's exp.ns., Grantor mey be the nomlnel p.rty in suchproce.dingó but Lender shall b. entitl.d to participate In the proceeding and to b. represented in the proce.ding by couns.1 .of Lend.r·s own cholc., and Gr.ntor will deliver. or csus. to be deliver.d, to Lender such instrum.nts .. Lender m.y request from time to time to p.rmit such p.rticipetlon. Compllanc. With Laws. Grantor w./lants that the Property and Grantor's use of the. Prop.rty complies with all existing sppllc.ble laws, ordinances, and regulstions of governmenteJ authorities. Survlvel of Promises.. All promlsBs, agreements, nnd statements Grantor has made In .this Mortgage shall survive the execution and delivery of this Mortgage. shall b. continuing In nature and shall rem.ln In lull force and effect until such time as Grantor's Indebtedne.. is paid In full. CONDEMNATION. The following provisions r.latlng to condemn.tion proceedings ar. a part of this Mortg.ge: Proceedings. If any proce.ding in condemnation is fiI.d. Grantor shell promptly notify Lend.r In writing, .nd Grantor sh.II promptly take such steps as m.y b. necessary to defend the action end obt.in the.werd. Grantor may be the nominal party In such proceeding. but L.nd.r sh.1I bu untitl.d to participate in the proceeding .nd to be represented in the proceeding by counsel of its own choice, and Grantor Loan No: 764005280 MORTGAGE (Continued) 000234 Page 3 will deliver or cause to be. delivered to Lender such Instruments and documentation as may be requested by Lender from time to time to permit such partlclp.tlon. Application of Net Prooeeds. If all or any p.rt of th. Property Is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may at Its election require that all or any portion. of the net proceeds of the award be applied to the Indebtedness or the repair or restorallon of the Property. The net proceeds of the eward shall m.en the award after p.ymant of all reasonable costs, .xpense., .nd attorn.ys' fe.s Incurred by Lender In connection with the condemnation. IMPOSITION OF TAXES. FEES ANO CHARGES BY GOVERNMENTAL AUTHORITIES. Thè following provislona relating to governmental taxes, fees and charges are a part of this Mortgage: Current Taxos. Feas and Charges' Upon request by Lender, Grantor ah.1I exacute auch documents In addition to this Mortgaga and take whatever other action Is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse lender for all taxas, as described below, together with all expensea Incurred In racordlng, perfecting or continuing this Mortgage, Including without limitation all taxes, fees, documentary stamps, end other charges for recording or registering this Mortgage. ' Tax... The following shall conalltute t.xas to which this aectlon applies: (1) a ap.clflc tax upon this type of Mortgage or upon all or any part of the Indebtedness aecured by this Mortgege; 12) a specific tax on Grantor whicf:t Grantor Is authorized or requited to deduct from payments on the Indebtedness secured by this typa of Mortgage; (31 a tax on this type of Mortgage chargeable against the Lender or the holder of the Note; and (41 a specific tax on all or any portion of the Indebtedness or on payments of principal and Interest made by Grantor. Subsequ.nt Taxes. If any tax to which this section applies is enected subsequent to the. dete of this Mortgage, this event shall have tha same effect os an Event of Default, and Lender may exercise any or .11 of Its avail.ble rem.din for .n Event of Def.ult as provided b.low unless Gr.ntor either (11 p.y. the tax befor.Ît becomes delinquent, or (2) cont.sts the t.x as provid.d .bova In the Taxes and Liens section .nd deposits with Lender cash or a sufficient corporate surety bond or other security s.tlsf.ctory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provision. rel.tlng to thi. Mortg.ge es a security agreement .re e p.rt of thl. Mortgage: S.curlty Agr.ement. This Instrument shall constitute . Security Agreement to the extent any of the Property constitutes fixtures, and L.nder shall hev. .11 òf the rights of . secured party und.r the Uniform Commerci.1 Code as.mended from time to tima. S.curlty Inter.st. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perf.ct and contlnu. Lender's security Int.rest In the Personal Property. In eddition to recording this Mortgage In the real property·r.cords, Lend.r may, .t any time .nd "ílthout furthsr authoriz.tion from Grantor, file executed counterparts. copl.. or r.productlons of this. Mortgege as a .financing statement, Grantor shall raimburae Lender for all ex~n.es Incurred in perf.ctlng or continuing this security Intere.t. Upon default, Gr.ntor shall not remov.. sever or detach the Personal Property from tha Property. Upon default, Grantor shall assemble any P.rson.1 Prop.rty not .nixed to the· Property In a manner and at a place reason.bly convenient to Grantor end Lender .nd make It avall.ble to Lender within thr.. (3) days after rec.ipt of wrlttan demand from lender to the axtent p.rmltted by applicable law. Addresses. The mailing addresses of Gr.ntor (dabtor) .nd Lender (secured party) from which Information conc.rnlng the security interest granted by this Mortgage m.y be obtained leach as requirad by the Uniform Commercl.1 Code) are as stÌ1ted 01'1 the ·flrst page of this Mortgage. FURTHER ASSURANCES; ATTORNEY-IN' FACT, Th. following provision. relating to further assurances and ettorney-in-fact ar. a part of this Mortgage: Further Assurance.. At any time, and from time to time, upon request of Lender, Grantor will make, execute and· deliver, or will cause to b. made, execut.d or d.llv.red, to Lender Or to. Lender's d.slgnee, and when requested by lender, c.use to be flied, recorded, reflled, or r.racorded, a. the cas. may be, at such times .nd In such offices and places as Lender m.y deem appropriate, any and àll such mortg.ge.. deeds of trust, security deeds. security agre.ments, finenclng statements. continuation statement., Instruments of furth.r. assurence, certiflcat.s. and other docum.nts as may, in the sole opinion of L.nder, be.n.cessary or desireble in order to effectu.ta, .complete, perfect, continue, or pres.rve (1) Gr.ntor's obligations under the Not., this Mortgege, and the Related Documents. and 121 the liens .nd security int.restscreated by this Mortgage .s first and prior liens on ths Property, whether now owned or here.fter .cqulr.d by Grantor. Unless prohibited b,y law or Lender agrees to the contr.ry In writing, Gr.ntor s.h.1I reimburse Lender for .11 oosts and expens.s Incurred in connection with the matt.rs relerred to In this par.graph. Attorn.y-In-Fact. If Gr.ntor feils to do' .ny of tha things referred to In the preceding paragraph, L.nder may do so for and In the name of Gr.ntor and at Grantor's .xpense. For such purposes, Gr.ntor hereby irrevocably .ppolnts Lender as Gr.nlor'S attorney-In-fact for the purpose of m.klng, executing, delivering, filing, recording, and doing all other things .s m.y be necessary or desJrsble. In Lender's sOia opinion. to sccomplish the m.tters referred to in the preceding psregrsph. FULL PERFORMANCE. If Granlor pays .11 the Ind.btedness when due. and otherwise performs all the obligations Imposed upon Grsntor under this Mortg.ge, Lender sh.1I execute and d.llver to Gr.ntor . suitable satisfaction of this Mortgage and suit.ble statements of termination of .ny fln.nclng stat.m.nt on file evidencing Lender'a s.curlty Interest In Ihe Rents 'snd the Per.onal Property. Grantor will pay, If permitted by applicabl. law, eny reasol'lable termination la. esdetermlned by Lènder Irom tlm. 10 tima. EVENTS OF DEFAULT. At Lender's option, Gr.ntor will b. In d.feult under thie Mortgag. If .ny of the following happen: P.ym.nt D.faull. Giantor falls·to make .ny payment when due und.r the Indebtedness. D.feult on Oth.r Payments. F.ilur. of Grantor within the time required by this Mortg.ge to mak. any payment for t.xe. or Insurance. or any other peyment nece.s.ry to pr.vent filing of or to effect discharg. of eny lien, Br..k Othar Proml.es. Gr.ntor bre.k..ny promise m.d. to L.nder or fails to p.rform promptly at the time and strictly In the manner provided in this Mortgage or In .ny agreement rel.ted to this Mortgage. Fals. Stat.mants, Any represent.tlon or statement m.d. or furnished to lender by Grantor or on Grantor's beh.lf·Under this Mortgage or the R.I.ted Documants Is false or ml.l.ading In· any material r.sp.ct, .Ither now or .t the time mada or furnished. D.fectlve Collaterallzetlon. This Mortg.ge or any of tha R.lated Oocumel'lts ce.... to be In full force and effect (Including failure of any collater.1 document to create a v.lld and perfacted security interest or lian) at any time and for any reaSon. D.alh or Insolv.ncy. The death of Gr.ntor, the Insolvency of Gr.ntor, the.ppointment of a receiver for any part 01 Grantor'a prop.rty. any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under øny bankruptcy or InSolvency laws by or ag.lnst Gr.ntor. Taking of the Prop.rty. Any creditor or governmental .gency tries to t.ke .ny of tha Prop.rty or any oth.r of Grantor's property In which Lender has 8 lien. This Includes taking of, garnishing of or levying on Grantor's accounts with L.nder. However, If Grantor disputes in good faith whether the claim on which the t.klng of Iha Property Is basad Is valid or r...onable, and If Grantor gives Lender written notice' of the claim and furnlshe. Lender with monies or a surety bond satiafactory to Lend.r to satiafy the claim, then this default provision will not apply. Br.ach of Other Agre.ment. Any bre.ch by Gr.ntor under the terms of any other agr.ement between Grantor and lender th.t is not remedi.d within any· gr.ce period provldad thareln. Including without limitation any agreement concerning any Indebtedness or other obligation of Grantor to Lender, whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs with respect to anyguørsntor. endorser. surety, or accommodation pørty of .ny of the Indebtedn.ss or any guarantor. endorser, surety, or accommod.tion party diea or b.comes Incompat.nt. or revokes or disputes the v.lldity of. or Ii.bility under, any Gu.ranty ofthe Ind.btedness. Ins.curity. Lender in good f.ith bellev.s Itsalf insacura. RIGHTS AND REMEDIES ON OEFAULT. Upon the Ocourrence of .n Event of Default and at any time thare.fter, Lender, et Lender's option, may .xerclse anyone or more 01 the following rights and remedl.s. In .dditlon 10 .ny other rights or r.medi.s provided by law: Acc.ler.t. Ind.bt.dn.... Lender shall have the right .t Its option without nOllca to Gr.ntor to declare Ihe entire Indabtadn..s Immediately due and pay.ble, Including any prep.ym.nt pen.lty th.t Gr.ntor would ba required to pay. UCC Remedl.s. With r.spect to .11 or any part of the Person.1 Property. Lender shail.have all the rights and rem.dies of a secured party under th.Unlform Commercl.1 Coda. Loan No: 764005280 IVIUH /üAGE (Continued) "'"VUA#cÏj ~ Page 4 Collect Rents. lender shall have the right, without notice to Grentor. to take possession of the Property, including during the pendency of foreclosure. whether judiclel or non-judlclel, end collect the Rents, Including emounts pest due and unpeld. and epply the net proceeda, over and above Lender's costs. against the Indebtedneas. In furtherance of this right, Lender mey require any tenant or other uaer of the Property to make payments of rent or use feea directly to Lender. If the Rents are collected by Lender. then Grentor Irrevocably dealgnates Lender aa Grentor's ettorney-In-fact to endorae Instruments r.eceived in payment thereof In the neme of Grantor and to negotiate the sama and collect the proceeds. Payments by ¡snants or other uaera to Lander In response to Lender's demend shell satisfy the obligations for which the paymanta are mede, whether or not eny proper grounds for the demand existed. Lender mey exerclee its rights under this subperagreph either In pereon, by agent, or through a receiver. Appoint Reoelver. Lender ahall heve the right to have a receiver appointed to take possession of all or any part of the Property, with the power to protect and preaerve the Property, to operate the Proparty preceding forecloaure or aele, and to collect the. Renta from tha Property end apply the proceeds. OVer and ebove the coat of the receivership, against the Indebtednees. The receiver mey serve without bond If permitted by law. Lender'. right to the eppolntmant of a recalver shell axlat whether or not the apparent velue of the Property exceeds the Indebtadness by a substantial amount. Employment by Lender shall not disqualify a person fromaervlng ss a receiver. Judicial Foreclosure. Lender may obtein a Judicial decreemrecloslng Grantor's Interest In all oreny part of the Property. Nonjudicial Sale. Lender may foreclose Grentor's Interest In all or In any part of the Property by non-Judicial sale, end specifically by 'power of sale' or 'advertisement and sale' forecloaure as provided bY statute. Deficiency Judgmant. If permitted by applicable law, lender may obteln e judgment for any deficiency remaining In the Indebtednese due to Lender al1ar application of all amounts received from the exercise of the rights provided In this section. Tenancy at Sufferanca. If Grantor remain. In possession of the Property after the Property is aold es provided above or Lender otherwlae becomes entitled to possession of the Property upon default of Grantor,. Grantor ehell become e tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (1) pey a reasonable rental for the uSe ot the Property, or (21 vacate the Property immediately upon the demand of Lender, Other Remedies. Lender shellheve all other rights end remedies provided in this Mortgage or the Note or avaIlable et law or in equity. Sale of the Property. To the extent permitted by applicable iaw, Grentor hereby waives any and all right to heve the Property marshalled. In exercising Its rights and remedies. lender shell be free to sell all or any part of the Property together or separately, In one sale or by separete sale.. lender shall be entltlad to bid at any public sale on all or any portion of the Property. Notice of Sale. Lender will give Grantor reasonsble notice of the time and place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personel Property Is ·to be mada. Reesonable notlce.hall mean notice given at leest ten It 0) daya bafore tha time of the sale or disposition. Any sala of the Peraonal Property mey be made In conJunction with any sale of the Real Property. Election ot Remedies. All of lender's rights and remedies will be cumulative and may be exercised alona or togathar. An alectlon by Lender to choose anyone remedy will not bar Lander from using any other remedy. If Lender decides to spand money or to perform any of Grantor's obligations under .this Mortgage, after Grantor's failure to do so, that decision by Lender will not affect Lender's right to declare Grantor In dafault and to exercise Lender's remedies. Attorneys' Fee.; Expenses. If Lender institutes any suit or action to entorce eny of the terms of this Mortgsge, Lender shell be entitled to recover such sum 8S the court may adjudge reasonable 85 attorneya' fees It trial -snd upon any appeal. Whether or not any coun action Is involved, and to the extent not prohibitsd by lew, ell reaaoneble expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of Its Intereat or the enforcement otlts rights shall become a part of the Indebtednesa peyable on demand and shall baar interest at the Note rate from the date of the expenditure until repaid. Expenses covered by thl' paragraph Include, without limitation, however subject to any limits under applicable. law, Lender's reasonable attorneys' fees end Lender's legal expenses whather or not there Is e lawsuit, including resaonable attornays' fees snd expenses for bankruPtcy proceedings (Including efforts to modify or lIacate any automatic stay or InJunction). appeels, and any enticlpated post-judgment collection services, the coat of searching records. obtaining tltla reporta (Including foreclosure reportsl, surveyors' reports. and appraisal fees and titie. insurance, to the extent permlttad by applicable lew, Grantor also will pey any court costs, In addition to all other sums provided by law. NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice of default and any notice of aala shell ba given in writing, and shall be effective when actually delivered, when ectually received by telefecslmlie (unless otherwise required by law I , when depoalted with a nationally recognized overnight courier, or. If mailad, when deposited In the United States mall, sa first class, certified or registered mall postage prepeld, directed to· the addresses shown near the beginning of this Mortgage. All copies o.f notices of foreclosure from the holder of eny lien which hea priority over thla Mortgege shall be sent to Lender's address, aa ahown near the beginning of tl)ls Mortgege. Any person may change his· òr her address for notices under this Mortgage by giving formel written notice to the other person or persons, specifying thet the purpose of the notice is \0 change the person'a address. For notice purpoees, Grantor agrees to keap Lender Informed at all time. of Grantor's current addre's. Unlesa otherwiee provided or required by law, If there is more than one Grantor, eny notice given by Lender to any Grantor I. deemed to be notice given to all Grentora. It will be Grentor's responelblllty to tell the othera of the notice from Lender. MISCELLANEOUS PROVISIONS. Tha following miscellaneous provialons are a part of this Mortgage: Amendment.. What Is written in this. Mortgage and in the Related Documents Is Grantor's entire agreement with ..lender concerning the matters covered by this Mortgege. To .be effective, any change or smendment to this Mortgage must be. In writing and must be signed by' whoever will be bound or obligated by tha chenge or amandment. Caption Headings, Caption headlnge in thle Mortgage are for convanlence purposes only and are not to be used to. intarpret or define the provisions of this Mortgage. Govemlng Lew. This Mortgage will be governed by tederallaw applicable tli Lendar.and, to the extent n01 preempted by federal law, the lows of the Stete of Wyoming without regard to its conflicts of law provisions. This Mortgege has been acoepted by Lander in the State of Wyoming, Choice ot Venue. If there is a lewsult, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Lincoln County. State of Wyoming. No Waiver by Lender. Grantor understands Lender will not give up any of Lender'. rights under this Mortgage unless'Lender does so In writing. The fact that Lender delay. or omits to exercise any right will not mean that lender has given up that right. If Lender does agree in writing to give up one of lender's rights, that does not mean Grentor will not have to comply with 1he other provisions of this Mortgage. Grantor also understands that If Lender doea consent to e raquest, that does not mean that Grantor will not have to get Lender's consent again if the sltuetion heppens again. Grantor further understands that Just because Lender consents to one or more of Grentor's requesta, that does not mean Lender will be required to consent to any of Grantor's future requeats. Grantor waives preaentment. demand for peyment, protest, and notice of dishonor. Grantor waive. all rights or exemption from execution or similar law In the Property, and Grantor agrees that the rights of lender in the Property under this Mortgage are prior to Grantor's rights while this Mortgege. remains In effect. Severability, If e court finds thet any provision of this Mortgage Is not valid .or should. not be enforced, that fact by itself will not mean that the rest of this Mortgage will not be valid or enforced. Therefora. e court will enforce the rest of the provlsiona of this Mortgage even it- a provision. of thla Mortgage may be found to be invalid or unenforceable. Merger. There shall be. no merger of the interest or estate creeted by.thls Mortgege with any other interest. or estate In the Property at any time hald by or for the benetit of Lender in any capacity, without the written consent of lender. Succeno" and Anlgns. SUbject to any limitations state.d In this Mortgage on trensfer ot-Grantor's Interest. this Mortgage shall be binding upon and Inure to the benefit of the parties, their successors and assigna. If .ownership of the Property. becomes vested in a pe.rson other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness by way of forbeerance or exten.ion without releasing Grantor from the obligation. of thl. Mortgage or liability under the Indebtedness. Time I. of .the. Essence. Time is of the essenCe in the performance of this Mortgege. Walvar of Homestead Exemption. Grantor hereby raleases and waives ail rights and benefits of the homeatead exemption laws of the State of Wyoming as to ell Indebtedness secured by this Mortgage. DEFINITIONS. The following words .hall have the following meanings when used In this Mortgage: Borrower. The word 'Borrower' means MARK D CAMERON and Include. all co-signer. and co-makers signing the Note and all their Loan No:· 764005280 MORTGAGE (Continued) Ø002~36 Page 5 successors and Bssigns. Environmental Law.. The words "Environmental L·.w." maan any and all state, federal end local statutes, regulations and ordinances relating to the protaction of humsn haalth or the envlronmant. Including without limitation the Comprehenalve Environmental Rasponse, Compensation. and Liability Act of 1980. aa amendad, 42 U.S.C. Section 9601. at .eq. ¡"CERCLA"), the Superfund Amendment. and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA'), the Hazardous Materiels Treneportatlon Act, 49 U,S.C.Section 1801, et saq.. the Re.ource Consarvation and Racovary Act, 42 U.S,C. Section 6901. et seq., or other applicable state. or federal laws. rules, or regulations adopted pursuant thereto. Event of Default. The words" Event of Dafault" maan any of tha evants of default set forth In this Mortgsge In the events of default section of this Mortgege. Grantor. The word "Grantor" means MARK D CAMERON. Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without limitation a 9uaranty of aU or part of the Note. Hazardous Substance.. The words "Hazardous Substances" mean materiels that, becauae of their quantity, concentratIon or physical, chemical or Infectious characteristics. may cause or pose a present or pctentisl hazerd to humsn heelth or the environment when Improperly used, treated. stored, dlsposad of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances'" are used in thair very broadest 8ense and Include without limitation any and -all hazardous or tQxic subs-tanees, materials or weste es defined by or listed under tha Environmantel laws. The term "HezerdousSubstences" also Includas, without limitation, petroleum end petroleum by-products or any frection .thereof end asbestos. Improvemenb. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the Reel Property, fecllltles, additions, replacements and othar construction on the. Reel Prop~rty. Indebtednoss. Tho word "Indebtednesa" means ell principe'. Intereat, end otheramounta, costa and expensas payeble under tha Note or Relatad Documents. tog ather with all renawals of, extenslòna of, modlflcetlonsof~ consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discherge Grantor's obligations or expenses Incurred by Lender to enforce Grantor's obligations undor this Mortgego. together with Interost on suCh amounts as provided In this Mortgage. lender. The word "Lender" maans 1 st Bank, its successors end assigns, Tha words "successors or assigns" maan any person or company that ecqulres any interest in tha Note, Mortgaga. The word "Mortgege" means this Mortgege between Grantor and lendar. N~ta. The word "Note" maans the promissory note dated July 1, 2008. in the original principal amount of $417.000.00 from Grantor to Lendar. together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and aubstltutlona for the promissory note or agreement, Parsonal Property. The words "Persona' Property" mean all equipment, fixturss, end other articles of personal property now or hereol'or owned by Grantor, end now or hereefter enached or affixad to the Real Property; together with oil eccesslons¡ parts, and additions to, oil replecements of. ond ell substitutions lor, any of such proparty; and together with all proceeds !including. without limitation ell Insurance proceeds and refunds of premiums) from any sale or other disposition of the Property. Proporty. The word "Property" meens collectlvaly the Reel Property and tha Personel Property. Real Property. The worda "Reel Property" mean the reel property, Interests and rights. es further described in this Mortgage. Ralated Documents. The words "Related Documents" mean all promissory notes, credit egreaments, loen agreementa, envlronmantal agreements, guarentles, security agreemants. mort9ages,deeds of trust, aecurlty deeds, collatarel mortgegea. end all other Instrument., egreements and documants, whether now or hereafter existing, exacutad in connection with the Indebtedness. Rents. The word "Rents" means all prasent and future rants, revanues, Income. isaues, royalties, profits, and other baneflts darived from the Property. GRANTOR ACKNOWLEDGES §G READ ALL THE PROVISIONS OF THIS MORTGAGE, AND GRANTOR AGREES TO ITS TERMS. GRANTDR: r INDIVIDUAL ACKNOWLEDGMENT County of 'i1eftSJ.; J~ ~t~. ()~-kn\ í\c~(\~I~t ~\\ ~ S~\\~V\ I ~~( 'fujj·G Steto of This instrument was ecknowledgad before me on (date) by MARK D CAMERON. (Notarial Slgneturo) My commission expire.: LASER PRO lending, Ver. 5.41.00.004 Copr. Herland Financial Solutions, Inc. 1997, 2006. D:\LASERPRO\FNBICFI\lPL\G03.FC TR-7801 PR-13 All Rights Rsserved. . wy CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT 000237 State of California }ss County of San Luis Obispo On July 8, 2008 before me, Phillip James Sullivan, Notary Public, personally appeared Mark D Cameron, who r·'~ ~ ~ ;;(, ---. .". 1t -- .---. 1)" J ; [ ." 'lIP ·JAMJiS SUlLIVAN e·' '. . CorrmIssIor:I.·' ,1618582 í: .,' ; ~aty Pub Ia . Çalfbmla i .' ,.' Contra Costa Cww j .'.' MyComm. Explr~mov3. 20091 ...... .... -- -- ...... --- -- ..... -- ....... .-- ..... proved to me on the basis of satisfactory evidence to be the person(~ whose name(59.~ subscribed to the within instrument and acknowledged to me that @she/they executed the same i~ir authorized capacity(~ and that bY~lr signature~ on the instrument the person(~ or the entity upon behalf of which the personcø acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Qi[ c--- ~ S\.e-nature of Notarv Public OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this fonn. CAPACITY CLAIMED BY SIGNER (PRINCIPAL) o Individual o Corporate Officer (Seal) DESCRIPTION OF ATTACHED DOCUMENT Title or Type of Document Title o Partner(s) o Limited o General Number of Pages DAttorney-in-Fact o Trustee(s) o Guardian/Conservator o Other: Date of Document Absent Signer (Principal) is Representing: Signer(s) Other Than Name(s) Above ADM-005 (01/08) Platform ORDER N'üMBER: NTI.·19S2 Kemmerer Jun 12 2008 g.n' EXHIBIT" A" 000238 P004/012 HANGER. EIGHT (8), THE EXECUTIVE HANGARS CONDOMINIUMS IDENTICAL WITII LOT 48 ALPINE VILLAGE SUBDIVISION NO.1 AND PLAT 2 AMENDED WITHIN NW~ OF SECTION 19, T37N, Rl18W, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF lŒCORDBD FEBRUARY 23, 2007 AS DOCUMENT NUMBER 926999, ALTA Commitment (6/17/06)