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HomeMy WebLinkAbout873865 O~ ItEL.EAS£ Oþ f) ! Thia/~òrtf;ge ~ SH .101 .ì. ¿)/) If M'aITU&n ) PAlE J ;;;/;; ;73865 RECEIVED LINCOLN COUNTY CLERI< 01 JIJN 13 PI;'! 2: 38 ,JEANNE Vi/AGNER I<EMMEfìER. V/YOMING BOOK 466 PR PAGE 4 3 '7 Space Above Thi ; Line For Recording Data M RTGAGE DATE AND PARTIES. The date of this Mortgage (S ~curity Instrument) is June 13, 2001. The parties and their addresses are: MORTGAGOR: TONY L KITTRELL POBOX 184 FRONTIER, Wyoming 83121-0184 BOBBIE J KITTRELL POBOX 184 FRONTIER, Wyoming 83121-0184 LENDER: COMMUNITY FIRST NATIONAL BANK Organized and existing under the laws of the United States of America 801 Pine Avenue Kemmerer, Wyoming 83101 1. CONVEYANCE. For good and valuable consider ttion. the receipt and sufficiency of which is acknowledged, and to secure the Secured Debts and Mortgagor's p rtormance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender. with the power of sale, the following described property: A RECTANGULAR TRACT OF LAND 100 FEET BY 1 0 FEET, SITUATE IN TRACT 63, SECTION 13, T21 N R116W OF THE 6TH P.M., LINCOLN COUNTY, WYOMING, 10RE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: COMMENCING AT THE SW CORNE :OF LOT 1 IN BLOCK 8 OF THE WILLOW ADDITION TO THE TOWN OF KEMMERER, LINCOLN COUNTY, WYOMI JG, AND RUNNING THENCE N 4°28' E, A DISTANCE OF 160 FEET TO THE POINT OF BEGINNING; THENCE S 85°22' E, 100 FEET; THENCE N 4°38' E, 140 FEET; THENCE N 8!:P22' W, 100 FEET; THENCE S 4°38' W, 140 FEET TO TItE POINT OF BEGINNING. The property is located in LINCOLN County at 410 WILLOW AVE, KEMMERER, Wyoming 83101. Together with all rights, easements, appurtenances royalties, mineral rights, oil and gas rights, all water and riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the f Hure, be part of the real estate described {all referred to as TONY L KITTRELL Wyoming Mortgage WY /4Xjpaulso0044260000324502406130 1 Y @1996 B nkers Systems, Inc" St. Cloud, MN ~ Initials m< I3~K - .' . .-.......--.-.-..---....., - - "(P .\"''''' .... -.---.---..-...------------.---.., -.-....------..--..--. Initials ~k.. jjJ 1< ~1996 Blinkers Systems, Inc., St, Cloud, MN ~ TONY L KITTRELL Wyoming Mortgage WY 14Xjpaulso00442600003245024061301 Y 4. PAYMENTS. Mortgagor agrees that all payments under the Secured Debts will be paid when due and in accordance with the terms of the Secured Debts and ~his Security Instrument. 5. ¡JRIOR SECURITY INTERESTS. With regard to ant 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 perfor or comply with all covenants. B. To promptly deliver to Lender any notices that 10rtgagor receives from the holder. C. Not to allow any modification or extension H, nor to request any future advances under any note or agreement secured by the lien document without Ønder's prior written consent. 6. CLAIMS AGAINST TITLE. Mortgagor will pay a I 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 Lende', 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. 7. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debts to be immediately due. and payable upon the creation of, or contract fothe creation of, a transfer or sale of the Property. This right is subject to the restrictions imposed by federal I w governing the preemption of state due-on-sale laws, as applicable. 8. WARRANTIES AND REPRESENTATIONS. Mortgl~gor has the right and authority to enter into this Security Instrument. The execution and delivery of this S~curity Instrument will not violate any agreement governing Mortgagor or to which Mortgagor is a party. 9. PROPERTY CONDITION, ALTERATIONS AND INS ~ECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. nortgagor will not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep he Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use Nill not substantially change without Lender's prior written consent. Mortgagor will not permit any change in a IY license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lend r of all demands, proceedings, claims, and actions against Mortgagor, and of any loss or damage to the Propert ¡ Lender or Lender's agents may, at Lender's option, mtE~r the Property at any reasonable time for the purpose of inspecting the Property. Lender will give Mortgago. notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspec ion of the Property will be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. , O. AUTHORITY TO PERFORM. If Mortgagor fails tj' perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, p~rform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name )r pay any amount necessary for performance. Lender's right to perform for Mortgagor will not create an obligatio I to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights nder the law or this Security Instrument. If any construction Property). This Security Instrument will remain in elffect until the Secured Debts and all underlying agreements have been terminated in writing by Lender. 2. MAXIMUM OBLIGATION LIMIT. The total prinCiP~. amount secured by this Security Instrument at anyone time will not exceed $50,400.00. This limitation of amou I.t does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, thi . limitation does not apply to advances made under the terms of this Security Instrument to protect Lender's sec rity and to perform any of the covenants contained in this Security Instrument. 3. SECURED DEBTS. This Security Instrument will s c:ure the following Secured Debts: A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and replacements. A promissory note, No. 7043116, dated June 13, 2001, from Mortgagor to Lender, and a loan amount of $50,400.00 with an initial variable int fest rate of 7,13 percent per year until June 13, 2004, after which time it may change as the promissory note rescribes and maturing on June 25, 2016. B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security Instrument. IIIII! 3 8 J,; - O~65 ..... 0873865 ,139 on the Property is discontinued or not carried on in reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, incllding completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mort agor grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and int irest in and to any and all: A. Existing or future leases, subleases, licenses, uaranties and any other written or verbal agreements for the 'use and occupancy of any portion of the Pro erty, including any extensions, renewals, modifications or substitutions of such agreements (all referred to a Leases). B. Rents, issues and profits (all referred to as Re ,ts), including but not limited to security deposits, minimum rent, percentage rent, additional rent, common a ea maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claim; which Mortgagor may have that in any way pertain to or are on account of the use or occupancy of the wholer any part of the Property. Mortgagor will promptly provide Lender with true an:l correct copies of all existing and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so l)I1g as Mortgagor is not in default under the terms of this Security Instrument. Mortgagor agrees that this assignment is immediate y effective between the parties to this Security Instrument. Mortgagor agrees that this assignment is effectiv as to third parties when Lender takes affirmative action prescribed by law, and that this assignment will re ain in effect during any redemption period until the Secured Debts are satisfied. Mortgagor agrees that Lende' may take actual possession of the Property without the necessity of commencing legal action and that actu II possession is deemed to occur when Lender, or its agent, notifies Mortgagor of Mortgagor's default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse 3nd deliver to Lender any payment of Rents in Mortgagor's possession and will receive any Rents in trust for Le lder and will not commingle the Rents with 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/te lant law. Mortgagor also agrees to maintain and require any tenant to comply with the terms of the Leases and a plicable law. 12. DEFAULT. Mortgagor will be in default if any of he following occur: A. Payments. Mortgagor fails to make a payment in full when due. B. Insolvency. Mortgagor makes an assignment for the benefit of creditors or becomes insolvent, either because Mortgagor's liabilities exceed Mortgagor') assets or Mortgagor is unable to pay Mortgagor's debts as they become due. C. Death or Incompetency. Mortgagor dies or is d ,cia red legally incompetent. D. Failure to Perform. Mortgagor fails to pertor i1 any condition or to keep any promise or covenant of this Security Instrument. E. Other Documents. A default occurs under the t nms of any other transaction document. F. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has with Lender. G. Misrepresentation. Mortgagor makes any ver 1.'11 or written statement or provides any financial information that is untrue, inaccurate, or conceals a material f ct at the time it is made or provided. H. Judgment. Mortgagor fails to satisfy or appeal iilny judgment against Mortgagor. 1. Forfeiture. The Property is used in a manner or or a purpose that threatens confiscation by a legal authority. J, Name Change. Mortgagor changes Mortgag r's name or assumes an additional name without notifying Lender before making such a change. K. Property Transfer. Mortgagor transfers all ora substantial part of Mortgagor's money or property. This condition of default, as. it relates to the transfer f the Property, is subject to the restrictions contained in the DUE ON SALE section. L Property Value. The value of the Property decli res or is impaired. M. Insecurity. Lender reasonably believes that Le per is insecure. 13. REMEDIES. Lender may use any and all remedis Lender has under state or federal law or in any instrument evidencing or pertaining to the Secured Debts, inclu ling, without limitation, the power to sell the Property. Any amounts advanced on Mortgagor's behalf will be im nediately due and may be added to the balance owing under TONY L KITTRELL Wyoming Mortgage WY /4Xjpauls.o00442600003245024061301 Y Initials TL. k.. ~3p( <1>1996 B nkers Systems. Inc,. St. Cloud. MN ~ -"------- .~_._~,.~.-.:....._-------.~.- -.-.-.-.------ .. I ... _.......-_.-.~-_._.. .. -- - - ..._.~--_._--_..- --'----------'-------·-·------------·--------'-·---1-'----..-..- Initials íb..f:.. ~~~ <C>1996 B~nkers Systems, Inc.. St. Cloud, MN ~u TONY l KITTREll Wyoming Mortgage WYl4Xjpaulso00442600003245024061301 Y the Secured Debts. Lender may make a claim for a~y and all insurance benefits or refunds that may be available on Mortgagor's default. Subject to any right to cure, required time sChedules~or other notice rights Mortgagor may have under federal and state law, Lender may make all or any part of the a 10unt owing by the terms of the Secured Debts immediately due and foreclose this Security Instrument in a m nner provided by law upon the occurrence of a default or anytime thereafter. If there is a default, Trustee will, in addition to any 0 her permitted remedy, at the request of the Lender, advertise and sell the Property as a whole or in separate parce s at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title and inte est of Grantor at such time and place as Trustee designates. Trustee will give notice of sale including the time, te 'ffiS and place of sale and a description of the Property to be sold as required by the applicable law in effect at the ime of the proposed sale. Upon sale of the Property and to the extent not pr hibited by law, Trustee will make and deliver a deed to the Property sold which conveys absolute title to the pur ;haser, and after first paying all fees, charges and costs, will pay to Lender all moneys advanced for repairs, taxe i, insurance, liens, assessments and prior encumbrances and interest thereon, and the principal and interest on the Secured Debts, paying the surplus, if any, to Grantor. Lender may purchase the Property. The recitals in any dee of conveyance will be prima facie evidence of the facts set forth therein. All remedies are distinct, cumulative and not eXCIUSiVj ' and the Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The accptance by Lender of any sum in payment or partial payment on the Secured Debts after the balance is due or is lccelerated or after foreclosure proceedings are filed will not constitute a waiver of Lender's right to require compl ite cure of any existing default. By choosing anyone or more of these remedies Lender does not give up Lender' ; right to use any other remedy. Lender does not waive a default if Lender chooses not to use a remedy. By el ding not to use any remedy, Lender does not waive Lender's right to later consider the event a default and to use ny remedies if the default continues or happens again. 14. COLLECTION EXPENSES AND ATTORNEYS' F :ES. On or after Default, to the extent permitted by law, Mortgagor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies under this Security Instrument. Mortgagor agrees to Jay expenses for Lender to inspect and preserve the Property and for any recordation costs of releasing the Prope ty from this Security Instrument. Expenses include, but are not limited to, reasonable attorneys' fees after defa It and referral to an attorney not a salaried employee of the Lender. These expenses are due and payable imm ¡diately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full at the highest interest rate in effect as provided for in the terms of the Secured Debts. To the extent permitted by t 1e United States Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees Lender incurs to coll3ct the Secured Debts as awarded by any court exercising jurisdiction under the Bankruptcy Code, 15. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Enviro ¡mental Response, Compensation and Liability Act (CERCLA), all other federal, state and local laws, regulation 3, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, saf ty, welfare, environment or a hazardous substance; and (2) Haz.ardous Substance means any toxic, radioactive r hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dan ¡erous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "tqxic substance," "hazardous waste," "hazardous s bstance," or "regulated substance" under any Environmental Law. Mqrtgagor represents, warrants and agrees that: .A. . Except as previously disclosed and aCknOWledg13d in writing to Lender, no Hazardous Substance is or will be located, stored or released on or in the Proper y. This restriction does not apply to small quantities of 'Hazardous Substances that are generally recogniz 3d to be appropriate for the normal use and maintenance of . the Property. B. Except as previously disclosed and aCknOWled~ed in writing to Lender, Mortgagor and every tenant have been, are, and will remain in full compliance with ð y applicable Environmental Law. C. Mortgagor will immediately notify Lender if a r lease or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violltion of any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial action in accordance with any Environmental Law. .0 .. 08'-5 0873865 441 D. Mortgagor will immediately notify Lender in writin!~ as soon as Mortgagor has reason to believe there is any pending or threatened investigation, claim, or pr ,ceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Envir ~mental Law. 16. 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 i Mortgagor's name in any of the above described actions or claims. Mortgagor assigns to Lender the procee Is of any award or claim for damages connected with a condemnation or other taking of all or any part of t e Property. Such proceeds will be considered payments and will be applied as provided in this Security Instrumen. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or ther lien document. 17. INSURANCE. Mortgagor agrees to keep the Pro .erty insured against the risks reasonably associated with the Property. Mortgagor will maintain this insurance in t 1e "mounts Lender requires. This insurance will last until the Property is released from this Security Instrument. Mortgagor may choose the insurance company, subject to Lender's approval, which will not be unreasonably lVithheld. All insurance policies and renewals will include a standard "mortgage clause" and, where applicable, "I ISS payee clause." Mortgagor will give Lender and the insurance compa,y immediate notice of any loss. All insurance proceeds will be applied to restoration or repair of the Property or to the Secured Debts, at Lender's option. If Lender acquires the Property in damaged condition, Mortgagor's right; to any insurance policies and proceeds will pass to Lender to the extent of the Secured Debts. Mortgagor will immediately notify Lender of cancellat on or termination of insurance. If Mortgagor fails to keep the Property insured Lender may obtain insurance to pr Itect Lender's interest in the Property. This insurance may include coverages not originally required of Mortgag H, may be written by a company other than one Mortgagor would choose, and may be written at a higher ra e than Mortgagor could obtain if Mortgagor purchased the insurance. 18. ESCROW FOR TAXES AND INSURANCE. Mortg 3gor will not be required to pay to Lender funds for taxes and insurance in escrow. 19. CO-SIGNERS. If Mortgagor signs this Security Instrument but does not sign the Secured Debts, Mortgagor does so only to mortgage Mortgagor's interest in :he Property to secure payment of the Secured Debts and Mortgagor does not agree to be personally liable 0 I the Secured Debts. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgago· agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or my party indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency or me-action laws. 20~ WAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating to the Property. 21. APPLICABLE LAW. This Security Instrument i ¡ governed by the laws of Wyoming, except to the extent otherwise required by the laws of the jurisdiction where the Property is located, and the United States of America. 22. JOINT AND INDIVIDUAL LIABILITY AND SUC ESSORS. Each Mortgagor's obligations under this Security Instrument are independent of the obligations of any )ther Mortgagor. Lender may sue each Mortgagor individually or together with any other Mortgagor. Lender may release any part of the Property and Mortgagor will still be obligated under this Security Instrument for the re naining Property. The duties and benefits of this Security Instrument will bind and benefit the successors and a \signs of Lender and Mortgagor. 23. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security Instrument may not be amended or modified by oral agreement. No amendment or modification f this Security Instrument is effective unless made in writing and executed by Mortgagor and Lender. This Secu'ity Instrument is the complete and final expression of the agreement. If any provision of this Security Instrum nt is unenforceable, then the unenforceable provision will be severed and the remaining provisions will still be enfoceable. 24. INTERPRETATION. Whenever used, the singula inGludes the plural and the plural includes the singular. The section headings are for convenience only and are n ,t to be used to interpret or define the terms of this Security Instrument. 25. NOTICE, FINANCIAL REPORTS AND ADDITIO IAL DOCUMENTS. Unless otherwise required by law, any notice will be given by delivering it or mailing it by f rst class mail to the appropriate party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one party will be deemed to TONY L KITTRELL Wyoming Mortgage WY /4Xjpaulso00442600003245024061301 Y <1>19968 nkers Systems, Inc., St, Cloud, MN ~" Initials We: Sð5f< ----:.-----------..---------.--------------.-----.--------·--1----·--·-·-'---'·---·--·· ---.-..-..-.-.---.-- - - - Initials We. ß~r by ........-..,,-.-.-.,.-----.-- ~_._-----_.__._----_.....,,-~-_.-'------,...__. ._..~..,_._.__._..._._.,- ~1996 Bahkers Systems. Inc.. St. Cloud. MN ~ 2001 ss. June OF Lincoln 13th day of TONY L KITTRELL Wyoming Mortgage WY 14Xjpaulso0044260000324502406130 1 Y L}J.JRIE McKEE - NOiARY PUBLIC COI~TfOf ... SlATE Of LINCOlN wvOMlNG SW!lœf ~ emf This instrument was acknowledged before me this TONY L KITTRELL, and BOBBIE J KITTRELL. My commission expires: January 1"i' COUNTY OF WYOMING ACKNOWLEDGMENT. (Individual) STATE MORTGAGOR: J ~ nO ~ X ).c0ULt~ TONY Ô KITTRELL ~ ~d<klJ (l.. - BOBBIE J KI ELL ~ SIGNATURES. By signing, Mortgagor agrees to the Iterms and covenants contained in this Security Instrument. Mortgagor also acknowledges receipt of a copy of thi~ Security Instrument. be notice to all parties. Mortgagor will inform Lend 'r in writing of any change in Mortgagor's name, address or other application information. Mortgagor will prov de Lender any financial statements or information Lender requests. All financial statements and informatio 1 Mortgagor gives Lender will be correct and complete. Mortgagor agrees to sign, deliver, and file any addi .ional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgag >r's obligations under this Security Instrument and to confirm Lender's lien status on any Property. Time is of the e ¡sence. IIIIR 2 .. O~5