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HomeMy WebLinkAbout952718STATE OF WYOMING SS. COUNTY OF LINCOLN CERTIFICATE OF PURCHASE RECEIVED 3/30/2010 at 10:18 AM RECEIVING 952718 BOOK: 744 PAGE: 649 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY I, M. SHANE JOHNSON, SHERIFF OF THE COUNTY OF LINCOLN, STATE OF WYOMING, do hereby certify, pursuant to Wyoming Statutes 34 -4 -101 et seq., that pursuant to the power provided in said statutes, pursuant to the provisions of the Mortgage that was recorded in the Office of the Lincoln County Clerk on June 2, 2008 in Book 696 at Pages 137 through 141 as Instrument No. 939446, pursuant to the Order entered on February 8, 2010 in The Bank of Star Valley v. Sessions, Civil No. CV- 2010 -03 -DC (Lincoln County District Court), and at the request of The Bank of Star Valley, a Wyoming Banking Corporation, as Mortgagee, the owner and holder of said mortgage and in compliance with the published Notice of Foreclosure Sale that the real property encumbered by said Mortgage would be sold on the steps of the Lincoln County Courthouse, in Kemmerer, Wyoming, on March 30, 2010 at 10:00 a.m., the following described real property was sold: Part of the Southeast Quarter of the Southeast Quarter of Section 33, Township 34 North, Range 118 West of the 6th P.M., Lincoln County, Wyoming being more particularly described as follows: BEGINNING at the Southeast Corner of said Southeast Quarter of the Southeast Quarter; and running thence West, 1039 feet along the south line of said Quarter Section line; thence North, 1260 feet; thence East, 1039 feet; thence South, 1260 feet to the POINT OF BEGINNING. Said property was sold to: Name: PM 8,4/Vit 0 s`A-eq Oh-60' Address: f 4 6 0X 92 8 71 NeC WVo 3 27 The amount paid: 2 7 S b I further certify that notice of intent to foreclose by advertisement and sale was served upon the record owner and person in possession by certified mail, return receipt requested, CERTIFICATE OF PURCHASE THE BANK OF STAR VALLEY SESSIONS PAGE 1 OF 2 mailed to the last known address of record at least ten days before the commencement of the first publication of notice, as shown by the attached documentation; that due and proper notice of the sale was published as required by law, as shown on the Affidavit of Publication attached hereto; that the price for which the real property was sold was the highest price bid therefore, and that said purchaser was the highest bidder for the real property; that that the whole sum so bid was paid; that to my best knowledge and belief, such sale was in all respects honestly and fairly conducted; and that the amount for which the real property was sold was the amount set forth above to satisfy the amount due on the mortgage at the date of the sale, with interest and costs and disbursements allowed by law, including attorney's fees supported by the attached affidavit of counsel. The purchaser, or purchaser's heirs and assigns, will be entitled to a deed to the real property that was sold at the expiration of the redemption period unless the real property is previously redeemed or the time for redemption is extended as provided by law. IN WITNESS WHEREOF, I have executed this Certificate of Purchase at Kemmerer, Wyoming, this 30th day of March, 2010. WITNESS my hand and official seal. My Commission expires: BY: d l ►r' n 7 ACKNOWLEDGED before me by i W DC Deputy Sheriff, Lincoln County, Wyoming, this 30th day of March, 2010. NOTARY PUBLIC CERTIFICATE OF PURCHASE THE BANK OF STAR VALLEY SESSIONS PAGE 2 OF 2 M. SHANE JOHNSON, SHERIFF LINCOLN COUNTY, WYOMING SAVANNA L. NAMES NOTARY PUBLIC 00)650 COUNTY OF LINCOLN My Commission Expires STATE OF WYOMING M. Kevin Voyles, 6 -2603 LUTHI VOYLES, LLC P.O. Box 820 Thayne, Wyoming 83127 -0820 Tel: (307) 883 -7887 Fax: (307) 883 -7889 Attorney for Plaintiff THE BANK OF STAR VALLEY, a Wyoming Banking Corporation, Plaintiff, and ELISE L. SESSIONS, Defendants. FILED BY IN THE DISTRICT COURT OF THE THIRD JUDICIAL DISTRICT IN AND FOR THE COUNTY OF LINCOLN, STATE OF WYOMING v. Civil No. CV- 2010 -03 -DC KIRK L. SESSIONS DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE FEB 8 2010 000651. KENNETH D. PO.9r STS CLERK OF U1STRICT COURT 3rd JUD :I^,LDSTICT LINCOLN COUNTY, STATE OF WYOMING IN THIS MATTER, Plaintiff The Bank of Star Valley has requested by Verified Motion for Default Judgment, pursuant to Rule 55 of the Wyoming Rules of Civil Procedure, that the THE BANK OF STAR VALLEY v. SESSIONS CIVIL NO. CV- 2010 -03 -DC DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE PAGE 1 OF 7 00i)652 Court enter a Default Judgment and Decree of Foreclosure and Sale. The Court has reviewed the evidence of record herein, and being fully advised in the premises, finds: 1. That Plaintiff The Bank of Star Valley is a Wyoming Banking Corporation with an office located in Thayne, Lincoln County, Wyoming (hereafter, "Plaintiff'). 2. That Defendants Kirk L. Sessions and Elise L. Sessions are residents of Bedford, Lincoln County, Wyoming (hereafter, "Defendants 3. That pursuant to Article 5, 10 of the Wyoming Constitution, and Wyoming Statutes 5- 9- 128(a)(i), this Court has jurisdiction over this matter because the amount in controversy exceeds $7,000.00. 4. That pursuant to Wyoming Statutes 1- 5- 101(a)(iii), this Court is the proper venue for this action because the real property at issue is located in Lincoln County, Wyoming. 5. That on May 23, 2008, Defendants executed and delivered to Plaintiff a Promissory Note in the principal sum of $167,986.00. The Promissory Note provided that the total amount loaned plus all interest would be due and payable on June 1, 2009. 6. That in order to secure payment of the Promissory Note according to the terms and conditions thereof, Defendants made, executed, and delivered to Plaintiff a Mortgage securing payment of the Promissory Note. The Mortgage was recorded on June 2, 2008 in the land records of Lincoln County, Wyoming, in Book 696 at Pages 137 through 141 as Instrument No. 939446. THE BANK OF STAR VALLEY v. SESSIONS CIVIL NO. CV- 2010 -03 -DC DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE PAGE 2 OF 7 7. That on June 30, 2009, Defendants and Plaintiff subsequently entered into an Extension Agreement to extend the Promissory Note. The Extension Agreement provided that the new maturity date for the Promissory Note would be November 1, 2009, at which time "all remaining amount of principal and interest [would] be due." Mortgage. 8. That the property covered by the Mortgage is described as follows: Part of the Southeast Quarter of the Southeast Quarter of Section 33, Township 34 North, Range 118 West of the 6th P.M., Lincoln County, Wyoming being more particularly described as follows: BEGINNING at the Southeast Corner of said Southeast Quarter of the Southeast Quarter; and running thence West, 1039 feet along the south line of said Quarter Section line; thence North, 1260 feet; thence East, 1039 feet; thence South, 1260 feet to the POINT OF BEGINNING. (Hereafter, said property is the "property 9. That the Property is the same as a portion of property that was conveyed to Defendants in the Warranty Deed that was recorded on October 14, 2004 in the land records of Lincoln County, Wyoming, in Book 570 at Pages 51 and 52 as Instrument No. 903729. 10. That Defendants own and are now in possession of the Property described in the 11. That Defendants have defaulted under the Promissory Note and Mortgage by failing to pay the payment due on November 1, 2009. 12. That Plaintiff, through counsel, declared the full amount payable under the Promissory Note and Mortgage to be due and demanded payment. THE BANK OF STAR VALLEY v. SESSIONS CIVIL NO. CV- 2010 -03 -DC DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE PAGE 3 OF 7 (3Oi 1653 13. That Defendants failed to respond to the demand for payment. Defendants on January 4, 2010. judgment against Defendant. THE BANK OF STAR VALLEY v. SESSIONS CIVIL NO. CV- 2010 -03 -DC DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE PAGE 4 OF 7 00.654 14. That Plaintiff filed the Verified Complaint to initiate this action against 15. That Defendants were each served by the Lincoln County Sheriffs Office with a Summons and a copy of the Verified Complaint on January 8, 2010. The Returns of said Summonses have been filed with the Court. 16. That Defendants failed to answer the Verified Complaint herein within the twenty (20) day time period for filing an answer provided in Rule 12(a) of the Wyoming Rules of Civil Procedure when service is completed within the State of Wyoming. 17. That default has been entered by the Clerk of this Court by the filing of an Entry of Default. 18. That Plaintiff, through counsel, has filed a Verified Motion for Default Judgment. 19. That Plaintiff has, in its Verified Complaint, established the factual basis for 20. That Defendants owe Plaintiff the $167,986.00 that is due on principal on the Promissory Note and Mortgage, interest that has accrued through January 30, 2010 in the amount of $22,238.58, plus additional interest accruing at the rate of $36.81885 per day. 21. That as provided in the Promissory Note and Mortgage, Defendants owe Plaintiff for the costs of collecting on the Promissory Note and Mortgage, said expenses being the title search fees for ascertaining the necessary parties to this action, $745.00, the costs of the filing of this action, $60.00, and the costs of service of the Summons and Complaint on Defendants, $60.00, for total costs of $865.00. 22. That as provided in the Promissory Note and Mortgage, Defendants owes Plaintiff for reasonable attorney's fees for actions taken to collect on the Promissory Note, as established by an affidavit of Counsel filed with the Court, in the amount of $3,355.00. 23. That Plaintiff is entitled to a judgment authorizing a foreclosure sale of the Property, and, if the proceeds of the sale are insufficient to pay Plaintiff's claims, a deficiency judgment. NOW, THEREFORE, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED: 1. That the motion of Plaintiff for default judgment is GRANTED; 2. That Plaintiff's request for a judgment authorizing a foreclosure sale of the Property is GRANTED; said sale shall be executed by the Sheriff of Lincoln County, Wyoming in accordance with the provisions of Wyoming Statutes 34 -4 -104 through 34 -4 -113. 3. That Plaintiff is hereby awarded judgment against Defendants as follows: a. For principal on the Promissory Note and Mortgage, $167,986.00; THE BANK OF STAR VALLEY v. SESSIONS CIVIL NO. CV- 2010 -03 -DC DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE PAGE 5 OF 7 00i;655 006'656 b. For interest accrued thereon through January 30, 2010, $22,238.58; c. For additional interest accruing daily since February 1, 2010 and continuing until the day the Property is sold as provided herein, at the rate of $36.81885 per day; d. For the costs of collecting on the Promissory Note and Mortgage, $865.00; e. For Plaintiff's reasonable attorney's fees to date, $3,355.00; and f. For the costs of completion of the foreclosure sale of the Property, including reasonable attorney's fees, in accordance with the provisions of Wyoming Statutes 34 -4 -111 and 34 -4 -112. 4. That pursuant to Wyoming Statues 34 -4 -108, Plaintiff may purchase the Property at the foreclosure sale of the Property. 5. That the proceeds of the foreclosure sale of the Property shall be paid out in accordance with Wyoming Statues 34 -4 -113. 6. That if the proceeds from the foreclosure sale of the Property are not sufficient to pay the full judgment entered herein, Plaintiff shall be entitled to a deficiency judgment for the remaining amount due and owing from the judgment entered herein. THE BANK OF STAR VALLEY v. SESSIONS CIVIL NO. CV- 2010 -03 -DC DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE PAGE 6 OF 7 IT IS THEREFORE SO ORDERED this ATEOFWYOM COUNTY OF LINCOLN SS. Kenneth a ..•••il,,, o f Judicial Distnct county and lo fr hereby certn' true, and corinp SIGNED M. Kevin Voyles LUTHI VOYLES, LLC P.O. Box 820 Thayne, Wyoming 83127-0820 Attorney for Plaintiff BY: 077 L. SA DI TRICT COURT CERTIFICATE OF SERVICE 00i.;657 day of February, 2010. DGE I hereby certify that a copy of the foregoing Default Judgment and Decree of Foreclosure and Sale was mailed by first class mail, postage prepaid, on the 9 day of February, 2010, to the following addresses: THE BANK OF STAR VALLEY v. SESSIONS CIVIL NO. CV-2010-03-DC DEFAULT JUDGMENT AND DECREE OF FORECLOSURE AND SALE PAGE 7 OF 7 Kirk L. Sessions Elise L. Sessions 1495 County Road 123 Bedford, Wyoming 83112 Defendants. 4,4v,,o KENNETH D. D. ROBERTS DISTRICT COURT CLERK DE TY CpjJlil' CLERK Randall B. Luthi M. Kevin Voyles Jack D. Edwards CERTIFIED MAIL RETURN RECEIPT REQUESTED Kirk L. Sessions Elise L. Sessions 1495 County Road 123 Bedford, Wyoming 83112 RE: Notice of Default Notice of Intent to Foreclose LUTHI VOYLES, LLC ATTORNEYS AT LAW 257 North Main P.O. Box 820 Thayne, Wyoming 83127 -0820 December 18, 2009 e340 ,1 6 58 Tel: 307.883.7887 Fax: 307.883.7889 Chris Allred Assistant Dear Mr. and Mrs. Sessions: This letter is notice that The Bank of Star Valley has declared a default on the Promissory Note and Mortgage from you that were executed on May 23, 2008. Copies of the Promissory Note and the Mortgage (the Mortgage being that which was recorded in the land records of Lincoln County, Wyoming on June 2, 2008 in Book 696 beginning at Page 137, identified as Receiving No. 939446) are enclosed for your reference. You have failed to make the payment that was due on November 1, 2009, of the balance due on the Promissory Note and Mortgage. As of the date of this letter, you owe The Bank of Star Valley $189,120.01, with additional interest in the amount of $36.81885 accruing daily. If you fail, with ten (10) days of the date of this letter, to pay the amount due on the Promissory Note and Mortgage, plus the costs that The Bank of Star Valley has incurred to date to collect on the debt which are the cost of a Certified Foreclosure Report, $745.00, and attorney's fees, $525.00, plus interest accruing from December 19August 4, 2009 in the amount of $36.81885 per day until paid The Bank of Star Valley will commence an action to foreclosure on the mortgaged property. If The Bank of Star Valley forecloses on the property, you will remain liable to The Bank of Star Valley for all amounts that remain due and owing to the Bank under the Promissory Note Kirk L. Sessions Elise L. Sessions December 18, 2009 Page 2 of 2 and Mortgage. You will also remain liable for all expenses that the Bank incurs in completing the foreclosure if such amounts exceed the property sale proceeds. This letter is an attempt to collect on a debt. Any information that you provide in response may be used for collection purposes. Enclosures Sincerely, TH/I VOYLES, LLC L—:- M. .evin Voyle KIRK L. SESSIONS; ELISE L. SESSIONS 1495 COUNTY ROAD 123 BEDFORD, WY 83112 BORROWER'S NAME AND ADDRESS "I" includes each borrower above, jointly and severally. THE BANK OF STAR VALLEY THAYNE BRANCH P.O. BOX 928 113 PETERSEN PARKWAY TH/L�YNE, WY a ,l ,l g 11DEW S N kl l ANDIrtDDRESS dr, its suc4 ssors and assigns. mea t Len Loan Number 201010421H Date 05.23.2008 Maturity Date 06.01.2009 Loan Amount 167.986.00 Renewal Of CALUCOLL 1E 740 C700 For value received, I promise to pay to you, or your order, at HUNDRED EIGHTY SIX AND N01100 Single Advance: I will receive all of this principal sum on Multiple Advance: The principal sum shown above is the I will receive the amount of S Conditions: The conditions for future advances are Open End Credit: You and I agree that I may borrow up to the maximum amount of principal more than one time. This feature is subject to all other conditions and expires on Closed End Credit: You and I agree that I may borrow up to the maximum only one time (and subject to all other conditions). INTEREST: I agree to pay interest on the outstanding principal balance from 05.23.2008 at the rate of 8 000 per year until 06. 01.2009 Variable Rate: This rate may then change as stated below. Index Rate: The future rate will be the following index rate: No Index: The future rate will not be subject to any internal or external index. It will be entirely in your control. Frequency and Timing: The rate on this note may change as often as A change in the interest rate will take effect Limitations: During the term of this loan, the applicable annual interest rate will not be more than or less than The rate may not change more than each Effect of Variable Rate: A change in the interest rate will have the following effect on the payments: The amount of each scheduled payment will change. The amount of the final payment will change. 0 ACCRUAL METHOD: Interest will be calculated on a ACTUALI365 basis. POST MATURITY RATE: I agree to pay interest on the unpaid balance of this note owing after maturity, and until paid in full, as stated below: on the same fixed or variable rate basis in effect before maturity (as indicated above). at a rate equal to LATE CHARGE: If a payment is made more than days after it is due, 1 agree to pay a late charge of ADDITIONAL CHARGES: In addition to interest, I agree to pay the following charges which 3 are are not included in the principal amount above: LOAN FEE 91,650., APPRAISAL FEE 9500., TITLE INSURANCE 9658., TAX MONITORING #60., RECORDING FEES 928., APPRAISAL REVIEW 975., WIRE FEE 915. PAYMENTS: I agree to pay this note as follows: ON DEMAND, BUT IF NO DEMAND IS MADE THEN 1 PAYMENT OF 9181,756.25 ON 06-01-2009. ADDITIONAL TERMS: 1ST REM ON 30 ACRES OF RAW GROUND LOCATED ON COUNTY ROAD 123, BEDFORD, WY SECURITY: This note is separately secured by (describe separate document by type and date): MORTGAGE DATED 5.23.2008 (This section Is for your internal use, Failure to list a separate security document does not mean the agreement will not secure this note.! Signature for Lander S ON L. WALKER, VICE PRESIDENT SLW UNIVERSAL NOTE Ell 1984, 1991 Bankers Systems, Inc., St. Cloud, MN Form UN 3/4/2002 your address listed above the PRINCIPAL sum of ONE HUNDRED SIXTY SEVEN THOUSAND NINE Dollars 187,966.00 05.23 No additional advances are contemplated under this note. maximum amount of principal I can borrow under this note. On and future principal advances are contemplated. PURPOSE: The purpose of this loan is DEBT CONSOLIDATION SIGNATURES: I AGREE TO THE TERMS OF THIS NOTE (INCLUDING THOSE ON PAGE 2). I have received a copy on today's date. KIRK SESSIONS ELISE L. SESSIONS (Pager of 2) DATE OF TRANSACTION PRINCIPAL ADVANCE BORROWER'S INITIALS /not required/ PRINCIPAL PAYMENTS PRINCIPAL BALANCE INTEREST RATE INTEREST PAYMENTS INTEREST PAID THROUGH: 6 6 6 6 6 6 6 S 6 6 6 6 6 6 6124/2008 DEFINITIONS: As used on page 1, "al means tt ms that apply to You will not be liable fo. dishonor of any check when the dishonor this loan. "I," "me" or "my" means each Borrower no signs this note occurs because you set off debt against any of my accounts. I agree and each other person or legal entity (including guarantors, endorsers, to hold you harmless from any such claims arising as a result of your and sureties) who agrees to pay this note (together referred to as "us exercise of your right of set -off. "You" or "your" means the Lender and its successors and assigns. REAL ESTATE OR RESIDENCE SECURITY: If this note is secured by real APPLICABLE LAW: Th e law of f he state i n which yo .,,are locate. will estate or a residence that is personal property, the existence of a default govern this note. Any term of this note which is c y to pble i r e edies for such a default will be determined by applicable law will not be effectiv e, unless the law permits you nd a t(I"agre to 16$ f e terms of any separate instrument creating the security such a v t variation, If any provision of this agreement annot be enfeteed 1 res, Od, to the extent not prohibited by law and not contrary to the accordin g n to its terms, this fact will not affect the forceabifty o r`ehe h. to ms b the separate security instrument b the "Default" and "Remedi" remainder of this agreement. No modification of thi' ,agrlmerl ma be paragraphs herein. made without your express written consent. Time i3he a i in DEFAUL, will be in default if any one or more of the following occur: (1) I this agreement. fail to ma e a payment on time or in the amount due; (2) I fail to keep the COMMISSIONS OR OTHER REMUNERATION: I understand and agree that property insured, if required; (3) I fail to pay, or keep any promise, on any any insurance premiums paid to insurance companies as part of this note debt or agreement I have with you (4) any other creditor of mine attempts to will involve money retained by you or paid back to you as commissions or collect any debt I owe him through court proceedings; (5) I die, am declared other remuneration. incompetent, make an assignment for the benefit of creditors, or become In addition, I understand and agree that some other payments to third insolvent (either because my liabilities exceed my assets or am unable to parties as part of this note may also involve money retained by you or pay my debts as they become due); (6) 1 make any written statement or paid back to you as commissions or other remuneration. provide any financial information that is untrue or inaccurate at the time it was PAYMENTS: Each payment I make on this note will first reduce the provided; (7) I do or fall to do something which causes you to believe that you amount I owe you for charges which are neither interest nor principal, will have difficulty collecting the amount I owe you; (5) any collateral securing The remainder of each payment will then reduce accrued unpaid interest, this note is used in a manner or for a purpose which threatens confiscation name by and then unpaid principal. If you and 1 agree to a different application of a legal authority; ing I change my name or assume an additional name without first notifying you before making such a change; (10) 1 fail to plant, payments, we will describe our agreement on this note. 1 may prepay e cultivate and harvest crops in due season if I am a producer of crops; (1 1) any pert of, or the entire balance of this loan without penalty, unless we loan proceeds are used for a purpose that will contribute to excessive erosion specify to the contrary on this note. Any partial prepayment Will not of highly erodible land or to the conversion of wetlands to produce an excuse or reduce any later scheduled payment until this note is paid in full agricultural commodity, as further explained in 7 C.F.R. Part 1940, Subpart (unless, when make the prepayment, you and I agree in writing to the G, Exhibit M. contrary), REMEDIES: If I am in default on this note you have, but are not limited to, INTEREST: Interest accrues on the principal remaining unpaid from time the following remedies: to time until paid in full. If 1 receive the principal in more than one (1) You may demand immediate payment of all I owe you under this advance, each advance will start to earn interest only when I receive the note (principal, accrued unpaid interest and other accrued charges). advance. The interest rate in effect on this note at any given time will (2) You may sat off this debt against any right I have to the payment apply to the entire principal advanced at that time, Notwithstanding of money from you, subject to the terms of the "Set -Off" anything to the contrary, 1 do not agree to pay and you do not intend to paragraph herein. charge any rate of interest that is higher than the maximum rate of (3) You may demand security, additional security, or additional parties interest you could charge under applicable law for the extension of credit to be obligated to pay this note as a condition for not using any that is agreed to here (either before or after maturity). If any notice of other remedy. interest accrual is sent and is in error, we mutually agree to correct it, (4) You may refuse to make advances to me or allow purchases on and if you actually collect more interest than allowed by law and this credit by me. agreement, you agree to refund it to me, (5) You may use any remedy you have under state or federal law. INDEX RATE: The index will serve only as a device for setting the rate on By selecting any one or more of these remedies you do not give up your this note. You do not guarantee by selecting this index, or the margin, right to later use any other remedy. By waiving your right to declare an that the rate on this note will be the same rate you charge on any other event to be a default, you do not waive your right to later consider the loans or class of loans to me or other borrowers. event as a default if it continues or happens again. ACCRUAL METHOD: The amount of interest that 1 will pay on this loan COLLECTION COSTS AND ATTORNEY'S FEES: I agree to pay ail costs of will be calculated using the interest rate and accrual method stated on collection, replevin or any other or similar type of cost if I am in default. page 1 of this note. For the purpose of interest calculation, the accrual In addition, if you hire an attorney to collect this note, 1 also agree to pay method will determine the number of days in a "year," If no accrual any fee you incur with such attorney plus court costs (except where method is stated, then you may use any reasonable accrual method for prohibited by law). To the extent permitted by the United States calculating interest. Bankruptcy Code, I also agree to pay the reasonable attorney's fees and POST MATURITY RATE: For purposes of deciding when the "Post costs you incur to collect this debt as awarded by any court exercising Maturity Rate" (shown on page 1) applies, the term "maturity" means the jurisdiction under the Bankruptcy Code. date of the lest scheduled payment indicated on page 1 of this note or WAIVER: I give up my rights to require you to do certain things. I will not the date you accelerate payment on the note, whichever is earlier. require you to: SINGLE ADVANCE LOANS: If this is a single advance loan, you and I (1) demand payment of amounts due (presentment); expect that you will make only one advance of principal. However, you (2) obtain official certification of nonpayment (protest); or may add other amounts to the principal if you make any payments (3) give notice that amounts due have not been paid (notice of described in the "PAYMENTS BY LENDER" paragraph below. dishonor), MULTIPLE ADVANCE LOANS: If this is a multiple advance loan, you and 1 I waive any defenses I have based on suretyship or impairment of expect that you will make more than one advance of principal. If this is collateral. closed end credit, repaying a part of the principal will not entitle me to OBLIGATIONS INDEPENDENT: I understand that I must pay this note additional credit, even if someone else has also agreed to pay it (by, for example, signing PAYMENTS BY LENDER: If you are authorized to pay, on my behalf, this form or a separate guarantee or endorsement). You may sue me charges I am obligated to pay (such as property insurance premiums), alone, or anyone else who is obligated on this note, or any number of us then' you may treat those payments made by you as advances and add together, been collect this note. You may do so without any notice that it them to the unpaid principal under this note, or you may demand has not been paid (notice of dishonor). You may without notice release any party to this agreement without releasing any other party. If you give immediate payment of the charges. SET -OFF: I agree that you may set off any amount due and payable under up any of your A nyts, with or without new cre it will not affect my renewal this of this note against any right 1 have to receive money from you. pay note note. Any extension of new credit to any of us, for rom mne duty of pa y note fy all than so less t en of us to o y not release me from m.) duty to "Right to receive money from you" means: (1) any deposit account balance I have with you; pay it. you course, your option d o entitled to only one the debt in full.) I represented by (2) any money owed to me on an item presented to you or in your that y may at your opton e this debt, or the time to imres te without by this note, noor tice any fo rian of the note t ffe c, n time tt tfor payment possession for collection or exchange; and limit or notice and for any term without affecting my liability for payment (3) any repurchase agreement or other nondeposit obligation. of the note. 1 will not assign my obligation under this agreement without Any amount due and payable under this note" means the total your prior written approval. amount of which you are entitled to demand payment under the terms of FINANCIAL INFORMATION: 1 agree to provide you, upon request, any this note at the time you set off. This total includes any balance the due financial statement or information you may deem necessary. I warrant date for which you properly accelerate under this note. that the financial statements and information I provide to you are or wit If my right to receive money from you is also owned by someone who be accurate, correct and complete. has not agreed to pay this note, your right of set -off will apply to my NOTICE: Unless otherwise required by law, any notice to me shall be interest in the obligation and to any other amounts 1 could withdraw on given by delivering it or by mailing it by first class mail addressed to me my sole request or endorsement. Your right of set -off does not apply to at my last known address. My current address is on page 1. 1 agree to an account or other obligation where my rights are only as a inform you in writing of any change in my address. I will give any notice representative. It also does not apply to any Individual Retirement to you by mailing it first class to your address stated on page 1 of this Account or other tax deferred retirement account. agreement, or to any other address that you have designated. 01984,1991 Bankers Systems, Inc., St, Cloud, MN Form UN 3/4/2002 (Pape 2 of 2) ei00661e ANNUAL PERCENTAGE RATE The cost of my credit as a yearly rate. 9.124% FINANCE CHARGE The dollar amount the credit will cost me. 9 15,570.25 AMOUNT FINANCED The amount of credit provided to me or on my behalf, 6 166,186.00 TOTAL OF PAYMENTS The amount I will have paid when I have made all scheduled payments. 8 181,756.25 I have the right to receive at this time an itemization of the Amount Financed I do do not want an itemization. My Payment Schedule will be: Number of Payments Amount of Payments When Payments Are Due 1 181,758.25 ON 06.01.2009 6 6 9 S 6 8 6 6 6 6 III Demand: This loan has a demand feature. This loan is payable on demand Variable Rate 1 My loan contains a variable rate feature. Disclosures (Check anal The annual percentage rate may increase during the term and all disclosures are based on an assumed maturity of one year. about the variable rate feature have been provided to me earlier. of this transaction if The rate may not increase more often than once and may not increase more than each Any increase will take the form of If the rate increases by in the will increase to The rate will not go above Security: I am giving a security interest in: the goods or property being purchased. CD collateral securing other loans with you may my deposit accounts and other rights 1 may Late Charge: If a payment is late I will be charged Required Deposit: The annual percentage rate does Prepayment: If 1 pay off this loan early, I may may Assumption: Someone buying my house may, the original terms. I can see my contract documents for any additional any required repayment in full before the scheduled (brief description of other property) FIlinglRecording also secure this loan. 1ST REM ON 30 ARCES have to the payment of money from you. ROAD 123, BEDFORD, Fees: 9 78.nn OF RAW GROUND LOCATED ON COUNTY WYOMING not take into account my required deposit. will not have to pay a penalty. will not be entitled to a refund of part of the finance charge. subject to conditions, be allowed to cannot assume the remainder of the mortgage on information about nonpayment, default, date, and prepayment refunds and penalties. 'e• means an estimate. 6/24/2008 THE BANK OF STAR VALLEY THAYNE BRANCH P.O. BOX 928 113 PETERSEN PARKWAY THAYNE, WY 83127 LENDER'S NAME AND ADDRESS KIRK L. SESSIONS; ELISE L SESSIONS 1495 COUNTY ROAD 123 BEDFORD, WY 83112 BORROWER'S NAME AND ADDRESS Loan Number 20101042111 Date 05. 23.2008 Mat. Date 06. 01.2009 Loan Amount 8187,986.00 CALUCOLL 1E 740 C700 CREDIT INSURANCE Credit life insurance and credit disability insurance are not required to obtain credit, and will not be provided unless 1 sign and agree to pay the additional costs. Type Credit Life Credit Disability I do do not want credit life insurance. X Premium Term DOB 1 do do not want credit disability insurance. X DOB I do do not want joint credit life insurance. X DOB I do do not want Insurance. X PROPERTY INSURANCE 1 may obtain property insurance from anyone I want that is acceptable to you. 11 I get the insurance from or through you I will pay tor of coverage. FLOOD INSURANCE Flood insurance is al is not required. I may obtain flood insurance from anyone I went that is acceptable to you. If I get the insurance from or through you 1 will pay 6 for DOB 01982 aenke,e Systems, Inc„ St Cloud, MN Form TL-DRV -S 3/12/2002 TRUTH -IN- LENDING DISCLOSURES of coverage. Amount given to me directly 6 Amount paid on my (loan) account TO LENDER AMOUNTS PAID TO OTHERS ON MY BEHALF: Insurance Companies Public Officials 8 9 Fn Do 9 APPRAISAL SERVICES ALLIANCE LANO AMERICA BANK OF STAR VALLEY BANK OF STAR VALLEY BOSV CLA 20100420 CHASE C111 CARDS CABELA'S CLUB VISA SEARS HICKMAN LAND TITLE ITEMIZATION OF AMOUNT FINANCED 6 (less) PREPAID FINANCE CHARGEIS) 8 Amount Financed 8 (Add all items financed and subtract prepaid finance charges.) •You may retain or receive a portion of these amounts, 35,857.14 1,650.00 28.00 500.00 658.00 60.00 15.00 75.00 39,571.38 5,021.55 67,091.42 11,000.00 13,000,00 3,458.51 t.890 nn 166.186.0Q BY SIGNING 6 e W 1 CKNOW £GE RECEIPT OF A COPY OF THI DISCLOSURE ON THE DATE INDICATED ABOVE. X I Li(�Q ti X KI'K L. SESSIONS ELISE L. SESSIONS /page 1 of 11 7/1/2009 Lender The Bank Of Star Valley P.O. Box 8007 Afton, WY 83110 Borrower Kirk Sessions Elise L Sessions 1495 Count Road 123 Bedford, WY 83112 Definitions: As used in this agreement, the term I means (referred to above by Number nd original Lender any rela agreements such as a means my previous agreement to pay you money security agreement and/or mortgage. On May 23, 2008 you and I entered into an original obligation which is a Promisso ac s f raw u ound located on co road .1 Bedford WY 83112. Ori 'nal 16796.00 gal 167 986 00. The total of amount remaining due as of the date ofthe agreement is 182 824.00. The obligation is secured by the following. in Lincoln Coun on June 212 t ated m on county road a 123 o��fo i following td WY 83112 'n the ount of i67 986.00 e in the obligation• 137 document 938446. For valuable consideration You and I agree to the g g See Additional Terms Below: Extension Agreement: The new payment schedule is .modifies as. follows: The maturity date will be Novem er 1. 00 t which time all remainin: amount of rinci s al and interest will b due. You acknowledge that this. deferral will result in you paying more interest. Interest Rate Change: The interest rate effective the date of this agreement is 8.0 '0 Fixed This •Rate is the same as the rate previously in a ect on this obligation. Additional Terms; Fees: For this extension, I agree to pay you the following non refuniable fees: 75.00 went does not in any way satisfy or cancel the-original obligation. Except as specifically amended by n this agreement, all other terms This agree of the original obligation remain if effect. This means. and includes, but is pot limited to: 1: Property which secures the original obligation. will continue to secure my total responsibility o pay you as amended by this 2: All parties who have a responsibility ility to pay you in any way the original obli (including any co-makers, endorsers, aad obligation if require effective the ah4 nd guarantors) remain responsible for the total amount I owe you as amended by this agreement. nt. lfyo not thco if nt t t is extension by any additional party, 1 agree to obtain such consent, and this extension agreement not obtained. n (except as specifically contracted for here) shall now begin to 3: Any post-maturity interest rite provided for in the original obligatio ep pecifi y apply alter the last scheduled payment of the original obligation as amended by this agreement. All other 4: Yon will not be responsible to further extend the payments affected by this agreement any other scheduled paYa►ents scheduled payments not affected by this agreement shall remain due as previously scheduled. 5: All provisions for default, remedies, attorneys= fees (if any) etc. remain in effect. b: My responsibility (if any) to provide insurance: on the property which secures the original obligation (if any) shall remain in effect. However, the term of such insurance policy will not extended to cover any additional term resulting from this agreement unless contracted for and any additional. premium is paid. hased in connection he e: te nded fo of any Credit r the additiona tie ter m pr for thi ment unless contracted for andany additional premium s ppaid. will not be extended fol r pro Signature of Authorized Representative of Lender: Signature(s) for Borrowers: By signing below, I agree to the extension. I have received cop of this agreement on todays date. Kirk Sessions R EXTENSION AGREEMENT This Agreement Date: .Tur 30 2009 (Date) teiaL 04 AAAAAAnt 3V Elise L. Sessions (Date) Loan Number: 20101042 Original Note Date• May 23.2008 rm The Bank of Star Valley 13y: Note secured b le amount of Gam' aron L. Walker (Date) Sr. Vice President 1st REM on 30 6 e 4 663 6/12/2008 6010816756 RECEIVED 61212008 at 2:21 PM RECEIVING 939446 BOOK 696 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER WY 000137 State of Wyoming Space Above This Line For Recording Data MORTGAGE (With Future Advance Clause) 1. DATE AND PARTIES. The date of this Mortgage (Security Instrument) is 05.24-7.00 and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: KIRK L. SESSIONS AND ELISE L SESSIONS 1495 COUNTY ROAD 123 BEDFORD, WY 83112 If checked, refer to the attached 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 and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured 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 Dronerty: SEE EXHIBIT "A" HERETO ATTACHED AND MADE A PART THEREOF The property is located in (Address) WYOMING MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USEI a1994 Bankers Syslams, In.., SI. Cloud, MN 11.800. 397.23411 Form RE- MTO -WY 11/18194 BANK OF STAR VALLEY a D /D `/.,2 384 Washington PO Box 8007 Afton. WY 83110 I COUNTY liQAp 123 (307) 885 -0000 Wyoming 83112 (ZIP Code) Y' Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all 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 estate described above (all referred to as "Property 3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed 187,9$¢,00 This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms of this 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 defined as follows: A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.) ONE PROMISSORY NOTE DATED 5.23-2008 IN THE AMOUNT OF 9167,986.00 (page r C 0 '3 664 6/12/2008 000138 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 not this Security Instrument is specifically referenced. If more than one person signs this Security Instrument, each Mortgagor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. All future advances and other future obligations are secured by this Security Instrument even though 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 by Lender under the terms of this Security Instrument. This Security Instrument will not secure any other debt if Lender fails to give any required notice 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 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 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 bala re of the Secured Debt to be immediately due and payable upon the creation of, or contract 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. 591), 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, 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 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 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. ©1994 ham Systems, Inc., St. Cloud, MN 11.900.397 -23411 Form RE- MTG -WY 11119)94 /Page f 4 00 IS 6 5 6/12/2008 000139 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 includes a unit in a condominium 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 party obligated on the Secured Debt fails to make payment when due. Mortgagor will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender at any time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value of the Property is impaired shall also constitute an event of default. 14. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide Mortgagor with notice of the right to cure or other notices and may establish 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 and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any 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 sum 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 agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Security Instrument. Mortgagor will also pay on demand any amount incurred 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 in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender in 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, and other legal expenses. This amount does 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, (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'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 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 terns 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 ®1994 Bankers Systems, Inc., St. Claud, MN 11.800.39743411 Form RE•MTG•WY 11/18/94 006666 6/12/2008 postpone the due date of the scheduled payment nor change the amount of any payment. Any 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 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. This Security Instrument is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction 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 section 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 permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instniment. 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 1 of this Security Instrument, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 24. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any 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: 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. Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. 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 become fixtures related to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument, [Check all applicable boxes] Condominium Rider Planned Unit Development Rider Other Additional Terms. SIGNATURES: By signing below, Mortgagor agrees to the terms 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 stated on page 1. (Signature) KIRK SESSIONS by KIPK ,SF$:;!PJ ;FU$ €,4af..$10NS My commission expires: t -O S' (seal) SHARON W/1LI•;EH -l iARY 1 �.ui; COUNT OE Y SIAM OF I ���k�f WYOMING LINCOLN Z"J✓ MY COMMISSION EXPIRES JUNE 14, 2008 01994 Bankers Systems, Inc„ St. Cloud, MN 11.800-397.23411 Form RE•MTG•WY 11/18/94 0 00140 S 7-3-6Q of A.c..1//. -XQ— 5 :2 3. o8 (Date) (Signature) ELISE L. SESSIONS (Date) ACKNOWLEDGMENT: STATE OF IYPMJNO COUNTY OF Ltn 4p/ ss. (Individual) This instrument was acknowledged before me this Z day of MAY 2008 (pogo 4 of 4) Oib ?667 1111....... 6/12/2008 a r Order No: 6010816756 LEGAL DESCRIPTION EXHIBIT `A' Part of the Southeast Quarter of the Southeast Quarter of Section 33, Township 34 North, Range 118 West of the bth P.M., Lincoln County, Wyoming being more particularly described as follows: BEGINNING at the Southeast Corner of said Southeast Quarter of the Southeast Quarter; and, running thence West, 1039 feet along the south line of said Quarter Section line; thence North, 1260 feet; thence East, 1039 feet; thence South, 1260 feet to the POINT OF BEGINNING. 0 00668 000141 7007 2560 0000 8410 2259 0 0 m gjo tz... r- 71 0 g O F z ct, m on 0 m CD CD ••■1 3 1 1 0 Q. 000669 I SARAH HALE, Managing Editor of the Star Valley Independent, published weekly at Afton, Lincoln County, Wyoming, do solemnly swear that the notice, a copy of which is hereto attached, was published weekly in the regular and entire issue of said newspaper, and not in any supplement thereof, for Gt. r consecutive issues, commencing with the issue date 2-1,0 .5 2010, and ending with issue dated /2" .8 2010. Subscribed and sworn in before m= his PrtAL,A 2010. My commission expires August 31, 2013 NOTICE OF FORECLOSURE SALE NOTICE IS HEREBY GIVEN pur- suant to an Order entered on February 8, 2010 in The Bank of Star Valley v. Sessions, Civil No CV (Lincoln County District Court), and pursuant to Wyoming Statutes Sections 34-4 101 through 344 -113, that a fore- closure sale will be held at 10:00 a.m. on Tuesday, March 30, 2010, on the steps of the Lincoln County Courthouse in Kemmerer, Wyoming. The sale will be foreclosing on a from Kirk L. Sessiof and Elise L. Session, Mortgagors, to The Bank of Star Valley, Mortgagee, said Mortgage being that recorded in the Office of the Lincoln County Clerk on June 2, 2008 in Book 696 at. Pages 137 through 141 as :Instrument No. 939446. The amount due on the Mortgage, which includes amounts for accrued interest through January 30, 2010 and collection costs to the date of the Order, is $194,444.58. Additional interest is accruing at the rate of $36.81885 per day from February 1, 2010. The total am tof principal and interest, p lus t additional costs of the foreclo- sure sale and additional attor- ney's fees, are now payable in full .by Mortgagor to Mortgagee. day of The property covered by the Mortgage is in Bedford, Wyoming, described as follows Part of the Southeast Quarter of the Southeast Quarter of Section 33, Township 34 North, Range 118 West of the 6th P.M., Lincoln County, Wyoming being more particularly described as follows: BEGINNING at the Southeast Corner of said Southeast Quarter of the Southeast Quarter; and running thence West, 1039 feet along the south line of said Quarter Section line; thence North, 1260 feet; thence East, 1039 feet; thence South, 1260 feet to the POINT OF BEGINNING. The property being fore closed upon may be subject to other liens and encumbrances that will not be extinguished at the sale and any prospective pur- chaser should research the status of title before submitting a bid. DATED this 12th of February, 2010. M. Kevin Voyles LUTHI VOYLES, LLC P.O. Box 820 Thayne, Wyoming 83127 -0820 Tel: (307) 883 -7887 Fax: (307) 883 -7889 Attorney for The Bank of Star Valley Publish Feb. 25, March 4, 11, 18, 2010. County of Lincoln ,x6'7 �eTxai."Am�tw"'+u:'^^ma"Rti W N�R:'Max! JANA 13f= ?YC NNNT NQYARY PUBLIC State of Wyoming My Commission i .xta re' .August 31, 2013 STATE OF WYOMING SS. COUNTY OF LINCOLN FORECLOSURE SALE THE BANK OF STAR VALLEY SESSIONS MARCH 30, 2010 AFFIDAVIT OF COUNSEL REQUIRED BY WYOMING STATUTE 34- 4- 104(a) AND 34 -4 -112 oath, state as follows: I, M. KEVIN VOYLES, of LUTHI VOYLES, LLC, being duly sworn and under 1. That I am the counsel for The Bank of Star Valley, the Mortgagee of the Mortgage that was recorded in the Office of the Lincoln County Clerk on June 2, 2008 in Book 696 at Pages 137 through 141 as Instrument No. 939446. 2. That said Mortgage provides for attorney's fees if legal action is necessary to collect the debt that is secured by said Mortgage. 3. That said Mortgage is being foreclosed upon pursuant to Wyoming Statutes 34- 4 -101 through 34 -4 -113, Foreclosure by Advertisement and Sale, pursuant to the terms of said Mortgage, and pursuant to the judgment that was entered on February 8, 2010 in The Bank of Star Valley v. Sessions, Civil No. CV- 2010- 03 -DC, in the Lincoln County District Court. 4. That pursuant to Wyoming Statutes 34- 4- 104(a), I hereby certify that prior to the first date of publication of the Notice of Foreclosure Sale, a copy of said Notice was served, FORECLOSURE SALE BY LEISURE VALLEY, INC. ON LOT 62, PLAT 6, STAR VALLEY RANCH DECEMBER 6, 2005 AFFIDAVIT OF COUNSEL REQUIRED BY WYOMING STATUTE 34- 4- 104(a) AND 34 -4 -112 PAGE 1 OF 3 by certified mail, return receipt requested, upon the owners of the property at their last known address. There owners of the property were in possession of the property. There were no other subordinate liens of record to which such Notice copies needed to be sent. 5. That pursuant to Wyoming Statutes 34 -4 -112, I affirm that there has been and that there is now no agreement, express or implied, between The Bank of Star Valley and myself or my law firm, nor is there any such agreement with any other person or entity, for the sharing or division of the attorney's fees included in the amount sought for attorney's fees in said foreclosure sale. 6. That I further affirm that the attorney's fees included in the amount sought for attorney's fees in said foreclosure sale are compensation for services actually rendered in said foreclosure sale. 7. That balance of said Mortgage as of March 30, 2010, and the costs and attorney's fees of the foreclosure judgment and sale are as follows: Mortgage Principal Balance Accrued Interest through 03/30/10 Foreclosure Report Filing and Service Fees Publication Costs Appraisal Fees Legal Fees for Foreclosure Judgment Legal Fees for Foreclosure Sale Recording Fees 167,986.00 24,889.56 745.00 120.00 3'60.00 400.00 $3,955.00 $2,920.00 99.00 $201,474.56 FORECLOSURE SALE BY LEISURE VALLEY, INC. ON LOT 62, PLAT 6, STAR VALLEY RANCH DECEMBER 6, 2005 AFFIDAVIT OF COUNSEL REQUIRED BY WYOMING STATUTE 34- 4- 104(a) AND 34 -4 -112 PAGE 2 OF 3 000672 March, 2010. DATED this 30th day of March, 2010. WITNESS my hand and official seal. CHRISTINA K. ALLRED NOTARY PUBLI County of State of Lincoln Wyoming MY COMMISSION EXPIRES: 4 30 2013 My Commission expires: 4- ab13 Key' Voyles LUTH VOYLES, LLC P.O. Box 820 Thayne, Wyoming 83127 -0820 Tel: (307) 883 -7887 Fax: (307) 883 -7889 Attorney for The Bank of Star Valley, Mortgagee NOTARY PUBLIC FORECLOSURE SALE BY LEISURE VALLEY, INC. ON LOT 62, PLAT 6, STAR VALLEY RANCH DECEMBER 6, 2005 AFFIDAVIT OF COUNSEL REQUIRED BY WYOMING STATUTE 34- 4- 104(a) AND 34 -4 -112 PAGE 3 OF 3 SUBSCRIBED AND SWORN TO before me by M. Kevin Voyles this 30th day of