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other rights and remedies.
5. In the event Mortgagee is a party to any litigation affecting the property or the lien of this mortgage, including any action by Mortgagee to enforce
this mortgage or any suit in which Mortgagee is named a defendant (including condemnation and bankruptcy proceedings) Mortgagee may incur
expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, appraisal fees, and other charges
and any amounts so advanced will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest
at the default rate provided in the note(s) from the date of advance until paid.
6. Any awards made to Mortgagor(s) or their successors by the exercise of eminent domain are hereby assigned to Mortgagee; and Mortgagee is
hereby authorized to collect and apply the same in payment of any indebtedness, matured or unmatured, secured by this mortgage.
7. In the event of default in the payment when due of any sums secured hereby (principal, interest, advancements, or protective advances), or failure
to perform or observe any covenants and conditions contained herein, in the note(s), loan agreement(s), or other instrument(s), or any proceeding
is brought under any Bankruptcy laws, Mortgagee, at its option, may declare the entire indebtedness secured hereby to be immediately due and
payable and the whole will bear interest at the default rate as provided in the note(s) and Mortgagee may immediately foreclose this mortgage or
pursue any other remedy at law or equity, including foreclosure by advertisement with a power of sale in Mortgagee to the extent provided by
applicable law. Delay by Mortgagee in exercising its rights upon default will not be construed as a waiver thereof and any act of Mortgagee waiving
any specific default will not be construed as a waiver of any future default. If the proceeds under such sale or foreclosure are insufficient to pay
the total indebtedness secured hereby, Mortgagor(s) does hereby agree to be personally bound to pay the unpaid balance, and Mortgagee will be
entitled to a deficiency judgment.
8. Upon default, Mortgagee will at once become entitled to exclusive possession, use, and enjoyment of the property and to all rents, issues, crops,
profits, and income thereof, from the time of such default and during the pendency of foreclosure proceedings and the period of redemption, the
delivery of which may be enforced by Mortgagee by any appropriate suit, action, or proceeding. Mortgagee will be entitled to a Receiver for the
property and all rents, issues, crops, profits, and income thereof, without regard to the value of the property, or the sufficiency thereof to discharge
the mortgage debt and the foreclosure costs, fees, and expenses. Such Receiver may be appointed by any court of competent jurisdiction upon
ex parte application, notice being hereby expressly waived. The Receiver will apply all rents, issues, crops, profits, and income of the property to
keep the same in good repair and condition, pay all taxes, rents, fees, charges, and assessments, pay insurance premiums necessary to keep the
property insured, pay the expense of the receivership and attorney fees incurred by the Receiver, and apply the net proceeds to the payment of the
indebtedness secured hereby. Such Receiver will have all the other usual powers of receivers authorized by law and as the court may direct.
9. The integrity and responsibility of the Mortgagor(s) constitutes a part of the consideration for the obligations secured hereby. Should Mortgagor(s)
sell, transfer, or convey the property described herein without prior written consent of Mortgagee, Mortgagee, at its option, may declare the entire
indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default.
10. Assignment of Rents including Proceeds of Mineral Leases. Mortgagor(s) hereby assigns, transfers, and conveys to Mortgagee all rents,
royalties, bonuses, and delay moneys or other proceeds that may from time to time become due and payable under any real estate lease or under
any oil, gas, gravel, rock, or other mineral lease of any kind including geothermal resources now existing or that may hereafter come into existence,
covering the property or any part thereof. All such sums so received by Mortgagee will be applied to the indebtedness secured hereby; or Mortgagee,
at its option, may turn over and deliver to Mortgagor(s) or their successors in interest, any or all of such sums without prejudice to any of
Mortgagee's rights to take and retain future sums, and without prejudice to any of its other rights under this mortgage. This assignment will be
construed to be a provision for the payment or reduction of the mortgage debt, subject to the Mortgagee's option as hereinbefore provided,
independent of the mortgage lien on the property Upon payment in full of the mortgage debt and the release of this mortgage of record, this
assignment will become inoperative and of no further force and effect.
11. This Mortgage constitutes a Security Agreement with respect to all the property described herein.
12. The covenants contained in this mortgage will be deemed to be severable; in the event that any portion of this mortgage is determined to be
void or unenforceable, that determination will not affect the validity of the remaining portions of the mortgage.
L 2 Ranch LLC, A Limited Liability Company
STATE OF WI 0
COUNTY OF Li v►G0
On this 1144, day of ItYlavriA. ZOO 1 before me, a Notary Public, personally appeared G ,Dot 0 S
to me known to be the person(s) named in and who executed the foregoing instrument, who did say that he/d -lily ishwe member(s) of
L• 2 'Rave,
(SEAL)
that the instrument was signed on behalf of the limited liability company by authority of its members and the member(s) acknowledged the execution
of the instrument to be voluntary act and deed of the limited liability company by it and by him /her /them voluntarily executed.
My commission expires 101131 Z. OZ
ss
STATE OF '/1f1 011, Mg
ss
COUNTY OF L1 t^Co(IA
On this 1 day of W►0t .ok
n I 1,.$hay,
to me known to be the person(s) named in and who e
L
gowck
(SEAL)
My commission expires /D/g12 02.--
LLC ACKNOWLEDGMENT MEMBER(S)
LA>
(Type name u
Notary Public
LLC ACKNOWLEDGMENT MEMBER(
2oV 1 before me, a Notary Public, personally appeared 1J
xecuted the foregoing instrument, who did
(Type name under signature)
Notary Public in and for said County and State
BRAD W. WILLFORD NOTARY PUBLIC
County of State of
Uncolri Wyoming
My Commission Expires October 15, 2002
a limited liability company;
er
an s d d ticITARY PUBLIC
County of State of
Lincoln i` Wyoming
My Commission Expires October 15, 2002
f
say that /she /trey is /acs member(s) of
a limited liability company;
that the instrument was signed on behalf of the limited liability company by authority of its members and the member(s) acknowledged the execution
of the instrument to be voluntary act and deed of the limited liability company by it and by him /her /them voluntarily exec
Ap 00213605; Primary Customer ID 00038195; CIF 53175 Legal Doc. Date: March 19, 2001
FORM-5014, Real Estate Mortgage
Page 2
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Exception #3
Beginning at a point 811 feet West of the Southeast corner of the NW' /aNE'4 of said Section 21 and
running thence West 641 feet;
thence North 204 feet;
thence East 641 feet;
thence South 204 feet, more or less, to the point of beginning.
Exception #4
Beginning at the Northeast corner of the NW' NE 'A of said Section 21 and running thence West 470
feet;
thence South 618 feet;
thence East 292 feet;
thence North 400 feet;
thence East 178 feet;
thence North 218 feet to the point of beginning.
Exception #5
Beginning at a point 466 feet West and 200 feet North of the Southeast corner of the NW' /a NE '4 of said
Section 21, (said beginning point also being the Northeast corner of the Audrey L. Bassett tract described
in Book 133PR on page 192 of records of Lincoln County Clerk) and running thence West 230 feet,
along the North boundary line of the Audrey L. Bassett tract, to the Northwest corner of the said Bassett
tract;
thence North 189.4 feet;
thence East 230 feet;
thence South 189.4 feet, more or less, to the point of beginning.
Exception #6
Commencing at the Southeast corner of the NW VINE'/ of said Section 21 and running thence West 383
feet;
thence Northwesterly along the east bank of the irrigation canal 698 feet;
thence East 277 feet;
thence South 467 feet;
thence East 178 feet;
thence South 231 feet to the point of beginning.
Exception #7
That part of the NW 1 /4 NE 'A of said Section 21 described as follows:
Beginning at an existing fence corner of the West line of that tract of record in the Office of the Clerk
of Lincoln County in Book 151PR on page 326, S 15 °52.5' W, 651.80 feet from the Northeast corner
of the said NW 'A NE'4a as described in the Certified Land Corner Recordation Certificate of record in the
said Office;
thence S 00 °01.6' W, 23.95 feet along said West line to a point;
thence continuing S 00 °01.6' W, 186.05 feet along said West line and along the West line of that tract
of record in said Office in Book 152PR on page 527 to a Northeast corner of that tract of record
in said Office in Book 101PR on page 434, to a point;
thence S 89 °42.7' W, 57.40 feet along a North line of said tract of record in Book 101 to a point;
thence continuing S 89 °42.7' W, 269.60 feet along said North line to a point on the bank of Auburn-
Crow Creek Canal;
thence N 07 °36.3' E, 114.75 feet along said bank to a point;
thence N 12 °05.7' W, 98.41 feet along said bank to a point;
thence N 89 °42.7' E, 332.53 feet along an existing fence to the point of beginning.
Exception #8
Land described in Quitclaim Deed recorded October 21, 1994 in Book 359PR on page 299 of the records
of the Lincoln County Clerk.
Parcel 6
The'right of access as provided for in instrument set out Easement
Agreement recorded June 22, 1970, in Book 90PR, Page 537 of records
of Lincoln County Clerk.
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