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HomeMy WebLinkAbout940755 RECEIVED 7/23/2008 at 12:36 PM RECEIVING # 940755 BOOK: 100 PAGE: 654 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 000654 St~le or Wyoming S J~ce AIJove This Line For Recording D~ta MORTGAGE (With Future Advance Clause) 1. DATE AND PARTIES. The date of this Mortgage (Security Instrument) is pr.1.UqQ~.................................... and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: PATRICIA A. FALTYSEK, A MARRIED PERSON 4232 VISTA PANORAMA WAY UNIT 220 OCEAN SIDE, CA 92057 o If checked, refer to the attöched Addendum incorporated herein, for additional Mortgagors, their signatures and acknowledgments. LENDER: THE BANK OF STAR VALLEY THAYNE BRANCH ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF WYOMING P,O. BOX 928 113 PETERSEN PARKWAY THAYNE, WY 83127 2. CONVEYANCE. For good önd valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secuœd Debt (defined below) and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the following described property: SEE EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF t'-\ ¡ \ . 0,1 The property is locöted in ............................... .LJ~.GQ~~. . . . . . . . . . . . . . . . . . , . ... . .. . , . . ,. at .1?Q .~WQç~P.~~.QB... . . . . .. .. . . . , . . ...,. . . . .... . (County) . , . . , .. . , , . . , . . . . . . . . . , . , . . . , . . . . . . . , . . , . . , . , , , , , . . . . . , , , , , , , , " ""....,..,.,., ~.~4~. Y~.L,L,EX .RM.GH, . , . . . , . , . , . . , . " Wyoming ,....,.. .~~ J7.7, . . . . . . , , (ALldrcss) (CilY) (ZIP Code) Togelher wilh all righls, casements, öppurtemHlces, royallies, mineral rights, oil and gas rights, öll water and riparian rights, ditches, and water stock 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 estöte described öbove (öll referred to ös "Property"). 3. MAXIMUM OBLIGATION LIMIT. The totöl principal amount secured by this Security Instrument at anyone time shaU not exceed $ f.7.,ß.qQ,.qQ..............................,........... , This limitation of amount does not include interest and other fees and ebörges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms of tbis Security Instrument to protect Lender's security and to perform any of the covenants contained in this Security Instrument. 4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is dclïm:d ös follows: A. Debl incurred under the (erllls or öll promissory lIole(s), conlract(s), guaranty(s) or other evidence of debt described below önd all thdr extensioos, renewals, modifications or substitutions, (When referencing the debts below it is suggested that you include iterns such as borro,l'ers' names, nole amounts, interest rales, maturity dales, etc.) ONE PROMISSORY NOTE DATED JULY 17, 2008 IN THE AMOUNT OF $27,900.00 WYOMING· MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USE! ©1994 6ankers Syst."..s, Inc.. St. Cloud, MN 11·600·397·23411 Form RE-MTGWY 11/16/94 tt.- (page 1 of 4) 0006.55 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 executed by Mortgagor in favor of Lender executed after this Security Instrument whether or nol thi~ Security In~lrlJment i~ ~reeilïcally referenced, II' more than one person sign~ this Security Instrument, each Mortgagor agrees that this Security Instrument will secure all future advance~ and future obligations that are given to or incurred by anyone or more Mortgagor, or allY one or more Mortgagor and others. All future advances and other future obligations are secured by this Security Instrument even thongh all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligations Mortgagor owes to Lender, which 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 hy Lender under the tem1S of this Security Instrument, This Security Instrument will not secure any other debt if Lender fails to give any required noticc of the right of rescission. 5. PAYMENTS. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the tenns of the Secured Debt and this Security Instrument. 6. 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, Mortgagor agrees: A. To make all payments when due and to perfonn or comply with all covenants, B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written consent. 7. 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 Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 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, or con! ract for the creation of, any lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C, F. R. 59l), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow any waste, impainnent, or deterioration of the Property, Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not pennit any change in any license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims and actions against Mortgagor, and of any loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of inspecting the Property, Lender shall give Mortgagor notice al the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benelït and Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perfonn any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perfonn or cause them to be perfonned, Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for perfonnance. Lender's right to perfonn for Mortgagor shall not create an obligation to perfonn, and Lender's failure to perfonn will not preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Prorerty, including any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and rents, issues and profits (all referred to as "Rents"). Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default under the tenns of this Security Instrument. Mortgagor agrees that this assignment is immediately effective between the parties to this Security Instrument. Mortgagor agrees that this assignment is effective as to third parties when Lender takes affinnative action prescribed by law, and that this assignment will remain in effect during any redemption period until the Secured Debt is satisfied. Mortgagor agrees that Lender may take actual possession of the property without the necessity of commencing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Mortgagor of default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse and deliver [0 Lender any payment of Rents in Mortgagor's possession and will receive any Rents in trust for Lender and will not commingle the Rents witll any other funds, Any amounts collected will be applied as provided in this Security Instrument. Mortgagor warrants that no default exists under the Leases or any applicable landlord/tenant law. Mortgagor also agrees to maintain and require any tenant to comply with the tenns of the Leases and applicable law. ©1994 Bankers Systems,lnc" St, Cloud, MN (1-800-397-2341) Form AE·MTG-WY 11/18/94 ~-t. (pBge 2 Df 4) "", ': t~ . . ..J 12. ÜOO~56 LEASEHOLDS; CONDOMINruMS; PLANNED UNIT DEVELOPMENTS. Mortgagor agrees'1o comply with the provisions of any lease if this Security Instrument is on a leasehold. If {he Property includes a unit in a condominiuJ? or a planned unit development, Mortgagor will perform all of Mortgagor's duties under the covenants, by-laws, or regulatIons of the condominium or planned unit development. 13. DEFAULT. Mortgagor will be in default if any pal1y obligated on tbe Secured Debt fails to make paymellt when due. Mortgagor will be in default if a breacb occurs under the terms of this Secnrity Instrument or any otber document exeeut~d f(~r the purpose of creating, securing or guarantying tbe Secured Debt. A good faith belief by Lender that Lellder at allY tune IS illsecure with respect to any person or entity obligated on the Secured Debt or tbat tbe prospect of any payment or the value of the Property is impaired shall also cOllstitute all evellt of default. 14. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lellder to provide Mortgagor with notice of the right to cure or other notices and may establisb. time schedules for foreclosure actions, Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued interest alld prillcipal shall become immediately due and payable, after givillg Ilotice if required by law, upon the occurrence of a default or allY time thereafter. In addition, Lender shall be elltitled to all tbe remedies provided by law, the terms of tbe Secured Debt, this Security Instrument and allY related documents including, without limitation, the power to sell the Property. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any SU111 in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if it continues or happens again. 15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrces to pay all or Lender's expenses if Mortgagor breaches any covenant in this Security Instrument. Mortgagor will also pay on demand any amount incurrcd by Lender for insuring, inspecting, preserving or otherwise protecting the Property and Lender's security interest. These expenses will bear interest from the date of the payment until paid ill full at the higbest illterest rate in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and eXpellses incurred by Lender ill collecting, enforcing or protecting Lender's rights and remedies under this Security Instrument. This amount may include, but is not limited to, reasonable attorneys' fees, court costs, alld other legal expenses. This amount docs not include attorneys' fees for a salaried employee of the Lender. This Security Instrument shall remain in effect until released. Mortgagor agrees to pay for any recordation costs of such release. 16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (I) Enviroomental Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordinances, court orders, attorney gelleral opillions or interpretive letters concerning the public heaHh, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or po{entially dangerous to the public health, safety, welfare or ellvirooment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Envirolilllental Law. Mortgagor represents, warrants and agrees that: A, Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance is or will be located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenallt have been, are, and shall remain in full compliance with any applicable Environmental Law. C. Mortgagor shall immediately notify Lender if a release or threatened release of a Hazardous Substance occurs on, under or about tbe Property or there is a violation or any Environmental Law concerning the Property. In such an event, Mortgagor shall take all necessary remedial action in accordance with any EnviroLUllental Law. D, Mortgagor shall immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Enviròomental Law. 17. CONDEMNATION. Mortgagor will give Lender prompt notice of any pending or threatened action, by private or public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property, Such proceeds shall be considered payments and will be applicd as provided in this Security Instrument. This assigumem of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. IS. INSURANCE. Mortgagor shall keep Property insured against loss by fire, Hood, theft alld other hazards alld risks reasonably associated with the Property due to its type and location. This insurance shall be maintained ill tbe amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to Lender's approval, which shall not be unreasonably withheld, If Mortgagor fails to maintain the coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance, Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premiums aud renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediately by Mortgagor. Unless otberwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Lender's option. A ny application of proceeds to principal shall not extend or ©1994 Bankers Systems, Inc., St, Cloud, MN 11-800-397-23411 Form RE·MTG-WY 11118/94 fL (page j af 4) --- 00065t1 postpone the due date of the scheduled payment nor change the amount of any payment. AllY excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. 19. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or infoanation Lender may deem reasonably nccessary. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and Lender's lien status on the Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but does not sign an evidence of debt, Mortgagor does so only 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. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevellt Lender from brillgillg any actioll or claim against Mortgagor or any party indebted under the obligatioll. These rights may include, but are not limited to, any anti-deficiellcy or one-action laws. Mortgagor agrees that Lellder and any party to this Security Instrument may extelld, modify or make any change in the teans of this Security Instrument or any evidence of debt without Mortgagor's consellt. Such a change will not release Mortgagor from the teons of this Security Instrumellt. The duties and bellefits of this Security Instrument shall bind and bellefit the successors and assigns of Mortgagor alld Lellder. 22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed hy the laws of the jurisdiction ill which Lender is localed, except to the extent otherwise required by the laws of the jurisdictioll where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any sectioll in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly peanits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its teans, that sectioll will be severed and will not affect the enforceability of the remainder of tl1is Security Instrument. Whenever used, the singular shall illclude the plural and the plural the singular. The captions and headings of the sections of this Security Instrument arc for convenience only and are not to be used to interpret or define the teans of tl1is Security Instrumellt. Time is of the essence in this Security Instrument. 23. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing, Notice to one mortgagor will he deemed to be notice to all mortgagors. 24. WAIVERS. Except to the extent prohibited by law, Mortgagor waives allY right regarding the marshalling of liens and assets and all homestead exemption rights relating to the Property, 25. OTHER TERMS. If checked, the following are applicable to this Security Instrument: D Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. D Construction Loan. This Security Instrument secures an obligation incurred for the construction of all improvement 011 the Property, D Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will hecome fixtures related to the Property, This Security Instrument sulTices as a financing statement alld any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Unifoan Commercial Code. D Riders. The covenants and agreements of each of the ridcrs chccked below are incorporated into and supplemellt and amend the teans of this Security Instrument. [Check all applicable boxes] D Condominium Rider D Planned U Ilit Development Ridcr D Other.......................................................· D Additional Terms. SIGNATURES: By signing below, Mortgagor agrees to the teans and covenants contained in this Security Instrument and in any attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date statcd on page I. 1?iÁl~e.(C( ..Q·J§!ft .~..................... (Signature) PATRICIA A. FALTYSEK (Date) &~~7~" ....... (J.~.,....................,........... ...................,......... (Signature) EUGENE LANCE FALTY EK (Date) ACKNOWLEDGMENT: (Individual) TS'hl'~1.·E OF ... ..C:fT. ~/·kfp·15.1 ~/dl.)b"f·"·"·"" 'I ~OLJN/'~Y-/:fiF .... .Md'. ,^<.. 9JiYyP.·······,··2- 66 ~SS. IS IOstrument was ac now e ge . e ore me t l1S .................... ay oj ..........'7 ...... ..,.. .. .. .. . .. .. .. .. .. . .. .. . .. .. , by ..~Ar~X~JA . A·. . .fA.T/:r:Y~EK. ..ð.J:'m. .~.1,J.GEN~.. LANÇ.I::..F.~L9S.EK,........ . f)' ..".. Î..,····· T··········,..·····,' , My comm(i::.~~n expires: AL>v-c.&7 IKJ ').o/ó .........Ji....~iIJ,.....~~. ........... , (Nolnry Public) ©1994 Bankors Systoms, Inc., St. Cloud, MN (1-800-397-2341\ Form RE-MTG-WY 11118194 f - -.:~o: ~ - - - - - - ;;F~;I~: ;;A-L - - - -1 _./ ...... · _. KAREN ROCHAMBEAU::o r.':J ~ .,; ~ NOTARY PUBLlC-CALlFORN1Affi ::p.. . COMM. NO. 1688397 .l.. I " . " SAN DIEGO COUNTY J . MY Cm..,M. EXP. AUG. 18, 2010 (page 4 of 4) ·-~~~~.~~~:{~¿;L-4"i~¿.I~f~;~';;: I,·~:~~:,;:.~: ..~~:~,~~.·t~~......·~i.;~1(~.:,·,::t.~~~,·:~t.~,.·.¡,.·,~,;,,~~~..r...:~".!..-¿,...;~ ~.:'::....··,~,·;.:,i~.'~,;:~~,·..."¡;¡¡-~;~~.:.'.'.".'.",;~~.-"'~....:,'.~_,.,,~<...:...~.~..,.:.......:~.:.: ..':,:'.;,~',.:,'.:..,~:.;...i<·..., ,-R')[.~H;r::-R';r_.ffi'. ·\·:A~· - . ij.L~':< ,. ., .1.w .....".. 'I' .".,.~ ~ " . 0'- ." ¥.. . ,... ':' ' .....~~~~!!!!i!:!E:.-.~~~(_ ~-. - ~~ ~=-~ .'!-~~_ ~..:.",:;:'~ ~ -~;i~~t~t~~~i:~&jii~·;~~~~'o~~~::;~~i~~;~iS~~~~·;;~·~··¡r::~)'~:!.~_:·~~:'~l:i&.~tE.ij~}~~~:¿Jl~t~§i~~~'à{~~ Lot 11 of Star Valley Ranch Plat 18, Lincoln County, Wyoming as described on the OTTlClal plat thereof 000658 ..... ." '.' " "