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HomeMy WebLinkAbout873932L 000 -L L L6bb0- b99- b990 .LNf1OJ3y ulna 3uip.ioaag and algr snu anogt; sands 9Nt I IN O: 'U3d3 3i �t cl rrllt rI�i1�J1/3 1 C :3 P'J' 1 NW 10 M310 1V 1kJNflOO `1100NI7 (asnuij aouenpy anima glitld) OLE009ZLZL L 00 #33NaIgdal NurtuoSAt Jo ainis 9 aDyd ud xoo€I G 6CL8 (I OOZ v oid lutluM amredas t' ui 0I paaBn aq lout luaumunuo0 tlons JSuy uopoos Ui uMOgs lunotu1 aq1 paaoxa gotgM saOusnpe .to sum mug JO Isuot1ippu a)lutu of luautluumo013 alnlilsuoO II1gs luatuaaBy'Slunoos slip 'uigloi i •luatunUlsul *moos sigi Jo alttp all uo Opera .Ii se patioas 0113 saOuunps amltg IIy •lgap Jo 001.10pin0 /tons /pun.taal-tow op iapuaj utozu soouunpe alnitlj IIy L E O Z 19 Z/ 9 0 jo alep Alunletu 5uinnq pue `siumoua.i puu suoiluotdipow `suOisualxa `sluautpuatue IIu t11!M iatila n/ L 00Z 9Z 100 palup lgap J o opuapina /1110 10 iS1UU.teng 10ea11100 Von 3O mg 2uinlonat `aloe ail Jo slutal alp .iapun pa.i.moui 1gau •y :sMOHHOJ se pauidap Sr „1g0a parnoos„ uua1 aril, 'SIONVAQV auf1LfI 1 TKV itua Qa2unas '1' •luatuns1sul iili.InOas sigl 131 pauisluoo sluuuano0 atll jo Sus uuojJod o1 pue *moos s /pua-I loalo1d of luantn/isul (i sigl 3o suI /p ail aapun apum soouunpe 01 ,Siddu 1ou sop uoilnliuzil sitlp `osly •luauntilsul ,Slunoos slip 01 luensznd apnui Sipilen sa ng° puu sag,/ iogio puu Isamu! apniPui TOU saop punoutu Jo uoilnliutil silty 00 000 9Z, POD lou lugs awn auo Sue 1n luatunilsul Spunoas sigl Sq pampas lunoule iudt uud plop ata '.LIIAII'I MOI.LVOPIfO „,il.iadoid„ se 01 pazralaz Hu) anogr, paquosap alelsa ma/ 0141 jo 11gd aq aininj am ui au Sue 113 Jo mou iS1U1 1ril sluatuaoelda.z pug `sazn1XIJ `sa.mlotuls `sltiauianoJdtui oininj pug O'utlsixa ilu pun )Tools /alum pue `sagolip 'slg a uiilidu puu /1um He 'slap sub puu iio `S1q u TuJauiul `sa!lle,So1 `saoutuaunddi `sluaulasua `slap H qTM 1at1a501 00 0 L 0 10 b 0E 81 ZE 1 Jo i gmnu paled pue OLLE8 AM 'NO13b '3AV 021IHI ISd3 9LPJ 1ppeue :Si.iadozd paquDsap 2UTMO1io3 0L1 `alas Jo /Mod g1!M `zapua7 01 sllrenum ptiu sa�umuo1 sai 0 `supanN `siui i5 1odal/o w `luauinhlsul Snmoos sigl lopun aouuuuojiad s,1ai uoj puu (Mo1aq pauidap) 1gou poiuoas ail ainOas 01 pue `papalmotl3loe si gOigM jo Souaiol ns pun ldiaaaz agp `uouiJoprsuoo ojgi nlen pus poa .rod 'a3NyAIANOD 'Z LOL69 1W 'SONI1118 L99LE X08 '0 'd 'VW `NNW{ 002Iy3 STIaM :2InQNa'I •s1uautgpaimou ou pus saznleals .nom Si0 1 uoTAI Isu0pipp1.to3 `uia1aq pale1odtoOui umpuappy pagOupe 0141 o110Jai `p0)loag03i N0121f18 b' b' 1 21010 I A :110DvD.L}IONI :smo1loj su are `paimboi ji `sioqumu uoilrouiluapi x131 pus sassaippe .itogi `sap.iud ail puu L 00Z 9Z 00 si („luounu1sul Slunoas ag138110JA snit Jo amp QNV 3,1,1 'I IN3W30VNVW 1N3/f1000 L0109 1W 'SONI11I9 L99 L X0 '0 'd 'd'N X18 0 eA SiiaM :01 uanlai papaoaaa, ua11M 'V'N `51Nyg Ob Iyd STIHY1 iq palsanba12utpaoaag C. All sums advanced and expenses incurred by Lender for insuring, preserving, or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of this Security Instrument. 5. PAYMENTS. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms 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 perform 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 the 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. Upon sale, transfer, hypothecation, assignment or encumbrance, whether voluntary, involuntary, or by operation of law, of all or any part of the Property or any interest therein, then at its sole option, Lender may, by written notice to Mortgagor, declare all obligations secured hereby immediately due and payable, except to the extent that such acceleration for and in such particular circumstances where exercise of such a right by Lender is prohibited by law. 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, impairment, 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 permit 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 at 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 benefit and Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. Lender's right to perform for Mortgagor shall not create an obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the law or this 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 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 Property, 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 terms 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 affirmative 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 to Lender any payment of Rents in Mortgagor's possession and will receive any Rents in trust for Lender 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/tenant law. Mortgagor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 12. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Mortgagor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the property is a unit in a Condominium Project or is part of a Planned Unit Development "PUD Mortgagor agrees to the following: A. Obligations. Mortgagor shall perform all of Mortgagor's obligations under the Constituent Documents. 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ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental 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 general opinions or interpretive letters concerning the public health, 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 potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental 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 tenant 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 the Property or there is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor shall take all necessary remedial action in accordance with any Environmental 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 Environmental 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' 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 applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 18. INSURANCE. Mortgagor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insurance shall be maintained in the 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 and 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 otherwise 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. Any application of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to 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 information Lender may deem reasonably necessary. 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 prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation These rights may include, but are not limited to, any anti deficiency or one action laws. Mortgagor agrees that Lender and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. 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(Signat re of 0 icer) Pail arcs Pubfh t: (Title of O icer) My Commission Expires: At4i u91 t 2.O6 3 ACKNOWLEDGMENT: (Individual) STATE OF COUNTY OF 0 87 3 30- 0141 The foregoing instrument was acknowledged before me by this day of Witness my hand and official seal. (Signature of Officer) (Title of Officer) My Commission Expires: EQ150F (3/2001) HAL R. ROBINSON NOTARY PUBLIC County of 4":11:%. (Seal Lincoln ���ii State of Wyoming My Commission Expires August 7, 2003 (Seal) 67,3 EXHIBIT `A' PART OF LOT 4 OF BLOCK 12 OF THE AFTON TOWNSITE, LINCOLN COUNTY, WYOMING BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT A POINT EIGHT RODS EAST FROM THE SOUTHWEST CORNER OF SAID LOT 4 OF BLOCK 12; THENCE RUNNING NORTHERLY 192 FEET ON A LINE PARALLEL TO THE WEST BOUNDARY OF SAID LOT 4, BLOCK 12; THENCE RUNNING EASTERLY FOR 12 RODS; MORE OR LESS, ON A LINE PARALLEL TO THE NORTH BOUNDARY OF LOT 4, TO THE EAST BOUNDARY LINE OF SAID BLOCK 12; THENCE RUNNING SOUTHERLY, ALONG SAID EAST BOUNDARY LINE, 192 FEET TO THE SOUTHEAST CORNER OF SAID LOT 4; THENCE RUNNING WESTERLY, ALONG THE SOUTH BOUNDARY LINE OF SAID LOT 4, 12 RODS, MORE OR LESS, TO THE POINT OF BEGINNING. G 7 C