HomeMy WebLinkAbout87333605036094
WHEN RECORDED MAIL TO:
W:l 1s Farggo Bank Northwest, N.A.
Logan Residential Construction Dept.
15 South Main, 2nd Floor
Logan, UT 84321
RECEIVED
LINCOLN CGE~ NTY CLERK
73336 01 MAY 17 AIH€:a7
KEIV1MMER. VIYOMING
BOOK 464 PR PAGE_ 6 5 6_.
MORTGAGE, ASSIGNMENT OF RENTS,
SECURITY AGREEMENT AND FIXTURE FILING
(Wyoming)
THIS MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING, dated the day of
May 14, 2001 between RUSSELL E REINHART and CHARLOTTE B NEEL-REINHART
and DANETTE N. JOHNSON
and their heirs, successors and
assigns, as MORTGAGOR, with a nonce address of 885 LINCOLN CO. RD. 129, GROVER WY 83122
and Wells Fargo Bank Northwest, N.A. a national banking association, with a notice address of
15 South Main, 2nd Floor Logan UT 84321 and its successors and
assigns, as MORTGAGEE.
The Mortgagor grants, conveys, warrants, and mortgages to the Mortgagee, WITH POWER OF SALE, the following-described real estate
situated in the County of L I N CO L N , State of Wyoming, to-wit
LOT 124 OF NORDIC RANCHES DIVISION NO. 9, LINCOLN COUNTY, WYOMING, ACCORDING TO THAT PLAT
FILED OCTOBER 4, 2000 AS PLAT NO. 312-b.
This Mortgage
Together with all the estate, right, title and interest that Mortgagor now has or may hereafter acquire, either in law or in equity, in and to the
property described above, to have and to hold the same, together with all buildings, structures and improvements now or hereafter placed on
the property and all alterations, additions or improvements now or hereafter made thereto, together with all tangible personal property, goods,
fixtures, equipment, machinery, building materials, tools, supplies, appliances and mechanical systems of every nature whether now or hereafter
located in, on or used or Intended to be used In connection with said buildings, structures and improvements or on the property, including
without limitatloti those for the purpose of supplying or distributing heating, cooling, electricity, gas, water, air and light and Including without
limitation all plumbing, plumbing fixtures, water heaters, furnaces, air conditioners, kitchen appliances, light fixtures, awnings, storm windows,
storm doors, screens, blinds, shades, curtains, curtain rods, mirrors, cabinets, wall coverings, rugs, carpeting, floor coverings, telephone
equipment, landscaping trees and plants, fences, security systems and outdoor lighting, and all other similar items and goods and ail additions
and replacements therefor, whether now or hereafter placed on the property or in any of the buildings or improvements thereon, and together
with all easements, rights of way, covenants benefttting the property, singular lands, tenements, hereditamettts, reversions, remainders, rents,
leases, receipts, accounts, contract rights, contracts of sale or other dlspos4ons, instruments, documents, general intangibles, management
agreements, operating agreements, issues, profits, privileges, water rights, water company shares of stock (with ail certificates therefor to be
delivered to Mortgagee), governmental permits, governmental entitlements, utility deposits and rebates, voting and other rights under any
recorded or unrecorded declaradon, articles, bylaws, or rules and regulations established by any owners' aSsociatim or similar entity, declarant
and other rights under any recorded or unrecorded covenants, conditions and restrictions, Plans and Specifications, studies, data, tests, reports
and drawings, and appurtenances of every kind and nature thereunto belonging, relating or in any way appertaining, or which may be hereafter
acquired and used or related to said property, or any part thereof, and together with all proceeds therefrom including without limitation
insurance proceeds (all of the foregoing shall hereinafter be referred to as the "Property").
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FOR THE PURPOSE OF SECURING (1) payment of the indebtedness evidenced by
I A A A d
651
Promissory Note, dated
in the principal sum of
3 7 L❑ x)10 DD (such principal sum being the "Maximum Principal Amount" as defined in the Agreement); with a Maturity
Date of Fehrttary5 2 lode by RIICSELL F RFINNART andJ`NdRLOTTF R N -R TNHART and LANFTT
(the'~~rn other than Mortgagor), payable to the order of Mortgagee at the times, In the manner and with interest as therein set forth, and
any t renewals or modifications; thereof (the 'Note'); (2) the payment and performance of ail obligations and liabilities of Mortgagor
(and, as applicable, Maker) under the terms of that certain Residential Construction Loan Agreement, dated on or about the date herewith (as
may be amended or supplemented, the "Agreement"); (3) the performance of each agreement of Mortgagor set forth in this Mortgage; (4) the
payment of such additional loans or advances as hereafter may be made to-Mortgagor or Maker, or their respective successors or assigns, when
evidenced by a promissory note or other document reciting that they are secured by this Mortgage: and (5) the payment of ail sums expended
or advanced by Mortgagee under or pursuant to the terms hereof, together with interest thereon as herein provided. It the Note (or the terms of
the Agreement) provide that the Loan (as defined in the Agreement) is a revolving line of credit, the principal balance of the indebtedness may
increase or decrease on a revolving basis in an amount not to exceed the Maximum Principal Amount stated above in accordance with the terms
of the Agreement, with the disbursements made under the terms of the Agreement to be considered future advances, and this Mortgage will
secure future advances, as that term is defined by applicable law up to the maximum amount of S . The maximum
amount of principal outstanding at any one time to be secured by this Mortgage is the amount of the Maximum Principal Amount outlined above
and in the Agreement, The maximum amount of total outstanding advances of principal to be secured by this Mortgage may increase or
decrease, from time to time, by written amendment of this Mortgage and the Agreement.
1. This Mortgage is upon the statutory mortgage condition for the breach of which it is subject to foreclosure as provided by law.
2. Upon request of Mortgagee and from and after the date of such request, Mortgagor agrees to pay to Mortgagee, in addition to the
payments of principal and interest payable under the terms of the Note, on the first day of each month until the Note Is fully paid, the following
sums:
(a) An installment of the taxes and assessments levied or to be 'levied against the Property, and an installment of the premium or
premiums that will become due and payable to renew the insurance on the Property covering against loss by fire or such other hazards as
required by the Agreement or as may reasonably be required by mortgages in amounts, and in a company or companies, satisfactory to
Mortgagee. Such installments shall be equal, respectively, to the estimated premium or premiums for such insurance, and taxes and
assessments, next due (as estimated by Mortgagee) less all installments already paid therefor, divided by the number of months that are to
elapse before one month prior to the date when such premium or premiums and taxes and assessments will become due. Such added
payments shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of Mortgages, and no interest shall be
payable in respect thereof. Mortgagee shall use such monthly payments to the extent they will suffice to pay such premium or premiums and
taxes and assessments when due.
(b) If monthly payments are required under the Now, all monthly payments mentioned in the preceding subsection (a) of this paragraph
2, and all payments to be made under the Note shall be added together, and the aggregate amount thereof shall be paid each month on the
date specified in the Note for the payment of monthly Installments in a single payment to be allocated by Mortgagee to the following !tams In the
order set forth:
i, Taxes. assessments, fire and other hazard insurance premiums:
li. Interest on and late fees with respect to the indebtedness secured hereby;
iii. Principal of the indebtedness secured hereby.
Any failure to comply with the terms of this paragraph 2 shall constitute an event of default under this Mortgage,
3. If the total of the payments made under subsection (a) of paragraph 2 shall exceed the amount of payments actually made by Mortgagee
for taxes, assessments, or insurance premiums, as the case may be, such excess may be released, applied on any indebtedness secured
hereby, or be credited by Mortgagee on subsequent payments to be made by Mortgagor. If, however, the monthly payments made under
subparagraph (a) of paragraph 1 shall not be sufficient to pay taxes, and assessments, and Insurance premiums, as the case may be, when the
same shalt become due and payable, then Mortgagor shall pay to Mortgagee any amount necessary to make up the deficiency on or before the
date when payment of such taxes, assessments, or insurance premiums shall be due. If there shall be a default under any of the provisions of
this Mortgage or the Agreement or the indebtedness secured by this Mortgage and thereafter a sale of the Property in accordance with the
provisions thereof, or if Mortgagee acquires the Property otherwise after default, Mortgagee at its option may apply, at the time of commencement
of such proceedings, or at the time the Property is otherwise sold or acquired, the balance then remaining in the funds accumulated under
subsection (a) of paragraph 1, as a credit against the amount of principal then remaining unpaid under the Note or other indebtedness secured
hereby,
TO PROTECT THE SECURITY OF THIS MORTGAGE, MORTGAGOR AGREES:
A. To keep the Property in good condition and repair; not to remove or demolish any building or improvement; to complete or restore
promptly and in good workmanlike manner any building which may be constructed, damaged or destroyed thereon; to comply with all laws,
covenants and restrictions affecting the Property including without limitation all applicable local, state and federal laws, rules, regulations and
ordinances relating to land use, zoning or protection of the environment, or to the generation, use, storage, removal, transportation, handling or
disposal of toxic materials, hazardous substances, hazardous waste or other similar materials or substances; not to commit or permit waste on
the Property: not to commit, suffer or permit any act upon the Property In violation of law; to do all other acts which from the character or use of
the Property may be reasonably necessary; and, it the terms of the Agreement or the Note provide that the loan or loans granted thereby or any
part thereof is being obtained for the purpose of financing construction of Improvements on the Property, Mortgagor further agrees:
(a) To commence any construction promptly and to pursue construction with reasonable diligence to completion in accordance with
plans and specifications satisfactory to Mortgagee,
(b) To allow Mortgagee to inspect the Property at all times during construction, and
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(c) To comply with all terms of the Agreement regarding construction on the Property.
658
5. To provide and maintain insurance, of such type or types and amounts requfred by the Agreement or as Mortgagee may otherwise require,
on the improvements now existing or hereafter constructed or placed on the Property. Such insurance shall be carried in companies approved
by Mortgagee with loss payable clauses and mortgagee clauses In favor of and in form acceptable to Mortgagee. In the event of a loss,
Mortgagor shall give immediate notice to Mortgagee, who may make proof of Joss, and each insurance company concerned is hereby authorized
and directed to make payment for such loss directly to Mortgagee alone instead of to Mortgagor and Mortgagee )'ointly, and the insurance
proceeds, or any part thereof, may be applied by Mortgagee, at its option, to the reduction of the indebtedness hereby secured or to the
restoration or repair of the damage. In the event that the Mortgagor shall fail to provide satisfactory hazard insurance within thirty days prior to
the expiration of any expiring policy, Mortgagee may procure, on the Mortgagor's behalf, insurance in favor of Mortgagee alone with Mortgagor
being obligated to reimburse Mortgagee Immediately for such coats. If insurance cannot be secured by the Mortgagor to provide the required
coverage, or if Mortgagor fails to reimburse Mortgagee immediately for the costs of insurance incurred by Mortgagee, such event will constitute
an event of default under the terms of this Mortgage, In the event of the foreclosure of this Mortgage or other transfer of title to the Property in
extinguishment, in whole or in part, of the debt secured hereby, all right, title and interest of the Mortgagor in and to any insurance polity then in
force shall pass to the purchaser or grantee.
6. To deliver to, pay for and maintain with Mortgagee until the indebtedness secured hereby is paid in full, such evidence of title as required
by the Agreement or as Mortgagee may require, including policies of title insurance and any extensions or renewals thereof or supplements or
endorsements thereto.
7. To appear In and defend any action or proceeding purporting to affect the liens and security interests granted hereby, the title to the
Property, ar the rights or powers of Mortgagee; and should Mortgagee elect to also appear in or defend any such action or proceeding, to pay
all costs and expenses, including cost of evidence of title and attorney's fees incurred by Mortgagee.
8. To pay at least 10 days before delinquency all taxes and assessments affecting the Property, including all assessments upon water
company stock and all rents, assessments and charges for water, appurtenant to or used in connection with the Property; to pay, when due, all
encumbrances, charges, and liens with interest on the Property or any part thereof, which at any time appear to be prior or superior hereto; to
pay all costs, fees, and expenses incurred in connection with this Mortgage.
9. Upon an event of default under the Agreement including a default under the Note and including Mortgagor's failure to make any payment
or to do any act as provided in this Mortgage, then Mortgagee, but without obligation so to do and without notice to or demand upon Mortgagor
and without releasing Mortgagor from any obligation thereof or under the Agreement, may (i) make or do the same in such manner and to such
extern as either my deem necessary to protect the security hereof, Mortgagee being authorized to enter upon the Property for such purposes;
(ii) commence, appear in and defend any action or proceeding purporting to affect the Property or the rights or powers of Mortgagee; (ii) pay,
purchase, contest, or compromise any encumbrance, charge or lien which in the judgment of either appears to be prior or superior hereto; and
(iv) In exercising any such powers, incur any liability, expend whatever amounts in its absolute discretion it may deem necessary therefor.
including cost of evidence of tine and the employment of attorneys.
10. That the Mortgagee shall have the right to inspect the, Property alter construction is completed at any and all time$ during usual business
hours.
11. To pay immediately and without demand all sums expended hereunder by Mortgagee with Interest from date of expenditure until paid at
the default rate set forth in the Note or the Agreement If no default rate is given, such interest shall accrue at the per annum rate set forth in
the Note until paid. The repayment of such sums and Interest shall be secured hereby.
IT IS MUTUALLY AGREED THAT.
12. Should the Property or any part thereof be taken or damaged by reason of any public improvements or condemnation proceeding, or
damaged by fire, earthquake, or good, or in any other manner, Mortgagee shall be entitled to receive Independently and solely all compensation,
awards, and other payments or relief therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name, any
action or proceedings, or to make any compromise or settlement, in connection with such taking or damage. All such compensation, awards,
damages, right of action and proceeds, including the proceeds of any policies of fire and other insurance affecting the Property, are hereby
assigned to Mortgagee, who may, after deducting therefrom all its expenses, including attorney's fees, apply the same on any Indebtedness
secured hereby. Mortgagor agrees to execute such further assignments of any compensation, award, damages, and rights of action and
proceeds as Mortgagee may require.
13. So long as the indebtedness secured hereby is outstanding, Mortgagor hereby assigns absolutely to Mortgagee alt leases, rents, issues,
royalties. and profits of the Property and of any personal property located thereon, whether now existing or hereafter arising. Until a default
occurs in the payment of any indebtedness secured hereby or in the performance of any agreement hereunder or an event of default under the
Agreement or until mortgages gives notice otherwise, Mortgagor shall be permitted to collect all such rents, issues, royalties, and profits earned
prior to such event of default or, as the case may be, notice from Mortgages, as they become due and payable. If such an event of default
occurs or upon Mortgagee's notice, Mortgagor's privilege to collect any of such moneys and enjoy the benefits of such Property shall cease, and
Mortgagee shall have the right, as stated above, with or without taking possession of the Property, to collect all leases, rents, royalties, issues,
and profits and enjoy the benefits of such Property. Failure of or discontinuance by Mortgagee at any time or from time to time to collect any
such moneys shall not in any manner affect the subsequent enforcement by Mortgagee of the right, power, and authority to collect the same.
Nothing contained herein, nor the exercise of the right by Mortgagee to collect, shall be, or be construed to be, an affirmation by Mortgagee of
any tenancy, lease, or option, nor an assumption of liability under, nor a subordination of the lien or charge of this Mortgage to any such tenancy,
lease or option.
14, Upon any default hereunder or any default under the indebtedness secured hereby or under the Agreement, Mortgagee may at any time
without notice, either in person, by agent, or by a receiver to be appointed by a court (Mortgagor hereby consenting to the appointment of such
receiver without the posting of a bond or undertaking and consenting to the appointment of Mortgagee as such receiver), and without regard to
the value of the Property or the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of the Property
or any part thereof, in its own name sue for or otherwise collect said rents, issues and profits Including those past due and unpaid, and apply
the same, less costs and expenses of operation and collection, Including attorney's fees, upon any indebtedness secured hereby, and in such
order as Mortgagee may determine.
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15. The entering upon and taking possession of the Property, the appointment of a receiver, the collection of such rents, issues, and profits, or
the proceeds of fire and other Insurance policies, or compensation or awards for any taking or damage of the Property, and the application
ttlereat strait not cure or waive any default or notice of default hereunder or under the Agreement not invalidate the rights of Mortgagee upon
such default or under the notice of default nor any act done pursuant to such notice of default.
16. Failure on the part of Mortgagee to promptly enforce any right hereunder shall not operate as a waiver of such right and the waiver by
Mortgagee of any default or acceptance of payment of any sum secured hereby after its due date shall not constitute a waiver of any other
subsequent default
17, in the event of the passage, attar the date of this Mortgage, of any law deducting from the value of the Property for the purposes of
taxation, any lien thereon, or changing in any way the laws now in force for the taxation of mortgages or debts secured by mortgages, or the
manner of the collection of any such taxes, so as to affect this Mortgage, the indebtedness secured hereby shall immediately, become due and
payable at the option of the Mortgagee.
18. Time is of the essence haraof. Upon default in the payment of any indebtedness secured hereby or in ft performance of any agreement
hereunder, or upon the occurrence of any other default or event of default under the Note or the Agreement, or in the event a receiver or a
trustee is appointed for Mortgagor or Mortgagor's property, or Mongagor makes an assignment for benefit of creditors, or Mortgagor becomes
insolvent, or a petition is filed by or against Mortgagor pursuant to any provisions of the United States Bankruptcy Code, as amended, all sums
secured hereby shall Immediately become due and payable in full at the option of Mortgagee.
19. Upon the occurrence of any default. the Mortgagee by written notice to the Mortgagor at the address specified above, at its option, may
declare the aggregate sum due under the obligations and all other indebtedness secured Immediately due and payable, as fully and completely
as if the aggregate sum and Indebtedness were originally stipulated to be paid on such day, anything in the Note or this Mortgage to the
contrary notwithstanding. Upon the occurrence of any Default, this Mortgage shall, at the option of Mortgagee, be subject to foreclosure, and the
Property may be sold by statutory advertisement and sale, or by judicial foreclosure, and the proceeds arising from the sale shall be applied to
the payment of the obligation and any and all other indebtedness of every kind and nature, owing to the Mortgagee, Mortgagor shall be liable
for any deficiency balance remaining on the unpaid obligations secured by the Mortgage after the Property is sold. The Mortgagee shall be
entitled to ail the rights, benefits and privileges given by law or by virtue of this Mortgage.
20. Mortgagor agrees to surrender possession of the Property to the purchaser at the sale as soon as required under applicable law after
such sale In the event such possession has not previously been surrendered by Mortgagor.
21. This Mortgage is intended to be an assignment, security agreement and pledge pursuant to the Uniform Commercial Code and other
applicable law for any of the items specified above as part of the Property which, under applicable law, may be subject to an assignment,
security interest or pledge pursuant to the Uniform Commercial Code or such other law, and Mortgagor hereby grants Mortgagee a security
interest in the items specified above as part of the Property which are personal property. This Mortgage is also a financing statement and fixture
riling to be recorded In the real estate records of the county in which the Property Is located. Mortgagor agrees that Mortgagee may file [his
mortgage, or a photocopy thereof, in any other jurisdiction or other appropriate index, as a financing statement for any of the Items specified
above as part of the Property or for any other purpose; in addition, Mortgagor agrees to execute and deliver to mortgagee, upon Mortgagee's
request. any other financing statements, as wail as extensions, renewals, and amendments thereto, and reproductions of this Mortgage in such
form as Mortgagee may require to perfect a security interest with respect to said items. Upon Mortgagor's breach of any covenant or agreement
of Mortgagor contained in this Mortgage, or attar the occurrence of an event of default under the Agreement, including breach of the covenants
to pay when due all sums secured by this Mortgage, Mortgagee shall have the remedies of a secured parry under he Uniform Commercial Code
and other applicable law and, at Mortgagee's option, may also invoke the remedies provided in this Mortgage as to such items. In exercising
any of said remedies, Mortgagee may proceed against the items of real property and any items of personal property collateral specified above
as pan of the Property separately or together and in any order whatsoever without in any way affecting the availability of Mortgagee's remedies
under the Uniform Commercial Code or of the remedies provided in this Mortgage and without affecting the personal liability of Mortgagor (and,
as applicable, Maker) under the indebtedness secured by this Mortgage. Portions of the Property may constitute goods which are or are to
become fixtures on or relating to the improvements constructed on the Properly, and this Mortgage is to be recorded in the real estate records of
the county in which the Property is located. Mortgagor covenants and agrees that, from and attar the time of the recording of this Mortgage. tlvs
Mortgage shall constitute a fixture filing under the Uniform Commercial Code. information concerning the security Interest created hereby may be
obtained from Mortgagee. The legal description of the Property In this Mortgage is the legal description of the real estate upon which any
fixtures covered by this Mortgage are located, and the Mortgagor Is the record owner of such Property. This Mortgage is a "Construction
Mortgage" within the meaning of the Uniform Commercial Code. For purposes of applying the provisions of the Uniform Commercial Code
relating to a `Construction Mortgage', the occurrence of "completion of construction" shalt not be deemed to have occurred until completion of all
work, and installation or incorporation into the improvements on the Property of all materials for which sums are disbursed under the Agreement
and secured by this Mortgage,
22. The rights and remedies of Mortgagee under this Mortgage are cumuiative and are in addition to any other remedies provided by law or
under the Agreement. The exercise by Mortgagee of one right or remedy under this Mortgage snail not constitute an election of remedies to the
exclusion of other rights and remedies. Mortgagor hereby waives all claims that Mortgagee marshall assets of Mortgagor or Maker in collecting
the indebtedness secured hereby. This Mortgage shall apply to, inure to the benefit of, and bind all parties hereto, their heirs, legatees,
devisees, administrators, executors, successors and assigns. Ali obligations of Mongagor hereunder are joint and several. In this Mortgage,
whenever the context so requires, the masculine gender includes the feminine anWor neuter, and the singular number includes the plural.
23. If all or any part of the Property or an interest therein Is sold or transferred voluntarily or involuntarily by Mortgagor (or if a beneficial
interest In Mortgagor Is sold or transferred and Mortgagor is not a natural person or persons but is a corporation, partnership, trust or other legal
entity) without Mortgagee's prior written consent, which consent may be withheld for any reason, excluding a transfer by devise, descent or by
operation of law upon the death of a joint tenant, then Mortgagee may, at Mortgagee's option, declare all the sums secured by this Mortgage to
be immediately due and payable in full.
Mortgagee agrees to consider consent to a safe or transfer if: (1) Mortgagor causes to be submitted to Mortgagee information required by
Mortgagee to evaluate the transferee; (2) Mortgagee determines that Mortgagee's security will not be impaired and that the risk of a breach of
any covenant or agreement In this Mortgage or the Agreement by reason of the involvement of such transferee is acceptable; (3) interest will be
payable on the sums secured by this Mortgage at a rate acceptable to Mortgagee; (4) changes in the terms of the Note, the Agreement and this
t6as72.o2\arrim"
IT 7436 PNOWY
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05036094
Mortgage required by Mortgagee are made, including, for example, periodic adjustment in the interest rate, a different fin pt y(ent date for the
Note, and the addition of unpaid interest to principal; and (5) the transferee signs an assumption agreemem that is accept ebe to Mortthat obligates the transferee to keep all the promises and agreements made in the Nate, the Agreement and this Mortgage, as modifle~d~ Toq,~
extent permitted by applicable law, Mortgagee may also charge a fee as a condition to Mortgagee's consent to any sale or transfer. This
paragraph does not limit Mortgagee's absolute discretion to refuse consent and to accelerate the indebtedness secured by this Mortgage upon a
transfer that is not permitted by this Mortgage.
In the event of a permitted transfer, Mortgagor (or Maker, as the case may be) still continues to be obligated under the Note and this
Mortgage, unless Mortgagee releases Mortgagor (or Maker) in writing.
24. Mortgagor shall promptly furnish Mortgagee with copies of all tax returns and financial reports and statements as required by the
Agreement or as requested by Mortgagee, all prepared in a manner and form and at such times as are acceptable to Mortgagee.
25. Mortgagor hereby agrees to indemnify, defend, and hold harmless Mortgagee, its successors, assigns, officers, directors, employees and
agents against any loss, liability, cost, injury, expense or damage, including without limitation court costs and attorneys fees and expenses, in
connection with or arising from the presence, escape, seepage, leakage, spillage, discharge or emission on or from the Prope any
or toxic substances, materials or waste that are or may be regulated by federal, state or local law, This indemntificat onm(a) (shall
survive the release, foreclosure or satisfaction of this Mortgage or the transfer of the Property encumbered hereby, (b) Is separate and distinct
from the other obligations under this Mortgage and the indebtedness secured hereby, (c) Is not secured by this Mortgage, and (d) shall be in
addition to any other such indemnifications.
26. This Mortgage shall be construed according to the laws of the State of Wyoming, except that to the extent that the Property or any of it is
located outside of the State of Wyoming and enforcement of the provisions of this Mortgage against the Property requires the application of the
law of the jurisdiction where such Property is located, the law of such jurisdiction shall govern for such enforcement purposes only.
27• Notwithstanding any provision herein or in the Note, the total liability for payments in the nature of interest shall not exceed the limits that
may be imposed by the applicable laws of the State of Wyoming,
28, if any provision hereof should be held unenforceable or void, then such provision shall be deemed separable from the remaining
provisions and shall in no way affect the validity,of this Mortgage or the rights of Mortgagee hereunder.
29. The undersigned Mortgagor requests that a copy of any notice hereunder be marled to Mortgagor at the address hereinbefore set forth
SIGNATURE OF MORTGAGOR:
RUSSELL E REINHART
DANETTE N. JO N
CHARLOTTE 6 NEEL-REINHAR
ACKNOWLEDGMENT
STATE OF W M)
COUNTY OF ) ss_
) DB
The foregoing instrument was acknowledged before me by
Witness my hand and official seal.
My commission expires: Q3
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t 89372,0:, omml. y -
I, T. 7/98
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day of 26L
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DONNA BOO
661-
TH- OTARY UBLIC
county of Stdoof
Commisslon Expires SEPT. 20, 2003