HomeMy WebLinkAbout957141DATE AND PARTIES. The date of this Mortgage (Security Instrument) is November 26, 2010. The parties and
their addresses are:
MORTGAGOR:
FRANK MOONEYHAN
19428 PINETREE DR
TEQUESTA, FL 33469
LENDER:
THE BANK OF STAR VALLEY
Organized and existing under the laws of Wyoming
384 Washington
P.O. Box 8007
Afton, WY 83110
AS SOLE OWNER
1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
and to secure the Secured Debts and Mortgagor's performance under this Security Instrument, Mortgagor does
hereby grant, bargain, convey, mortgage and warrant to Lender, with the power of sale, the following described
property:
See Exhibit "A" attached hereto and made a part hereof.
The property is located in Lincoln County at 159 East Papworth Lane, Afton, Wyoming 83110.
Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
riparian rights, wells, ditches and water stock, crops, timber, all diversion payments or third party payments made
to crop producers 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 (all referred to as Property). This Security
FRANK MOONEYHAN
Wyoming Mortgage
WY/ 4XPTOLMAN00000000000601062
III uh11 1M 1011 01101 .1J7 1 111
Space Above This Line For Recording Data
MORTGAGE
(With Future Advance Clause)
000651
RECEIVED 12/14/2010 at 2:05 PM
RECEIVING 957141
BOOK: 758 PAGE: 651
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Wolters Kluwer Financial Services 0 1996, 2010 Bankers Systems" Page 1
8
a
8', Future.A0mores.
under the
atter *it
MOO
e drta i
adv aaa
sired cO
must be
right of .re
created d by this.
with respect to ttiat
of Regulatinn Z.
C. Sums Advanced.
Instrument
Instrument.
Mortgagor of
3. PR
and make
rteterior t
agrees ti
car
prier
lowing:
1 Spy l is The follow
apiece p A prom ias r t nOte or
MOON
All tvafped
3„ PAYMENTS.. Mortgagor agrees that :alt
IA,AP 9.4 {V Q CQ6 100211281
a rt
cif perms stg
anc that are g rert: t,
4ot ere who may o sign.
ittrt though al lr
000652
Instrument will :remain in effect tit the $scored Debts and all. undo rtyr g::agreements ha ra: been to t mated in
Writing by Lender,
2 SECURED T AirtiRE-ADVAMES, The ter rt Secured Debts" includes and s S urityr Instrument
Will se ere 0 00h
e .es c, rftc?
Ail fut..dd
bt p
Anent,.
g ill secure:
x€uo�duatfy
#y tat Seer
�s if: r�a�titt; ri
:YtA
a!! extehelone. ne vaIL: refis gs, rro ifioati-
rtent, l o, (1'70229.4r dated No em '26, 201 0,,. ro
ii er} Ito L.ender1 wviti a t *n. a ouln of S1d I
:o ti
N eztd .i
ra t rity I urnent.
os y not ye
Nothing in
y t3a1 h
.0, ..9N.
r*d e. cat
�el�i€ig
ortgagQr`s s
any oche
HA H
is
.ems incurred by tender r i der then. tern �f t11:0 Se's
icoder. the. $904red a .vet be paid. When: dire `end: in.
.eccordanee with tha..tertrie c€ .the Soo.red Do. tita a nd: thy: ur.. y Irostriorrr tit.
dt m PRit' 31f I "S. With regard td y r r gege, steed .pf tit, sc i.„
Heil: Rich t thet cry a ar er's±s uh r ii *rest er arieurn rte ors Dire Proper Ma g i
A4 To make aft payihents when d0s annd.tb rn ar coin ity w a covenants,.
8.. TO :sproinptty deliver to tender anyr nOtinet that Mortgagor receives from..t _der.
C. Not to._aitow" any modlf#c.a cn .or. eXterielen of, nor to request tiny fps adyences un der ary ttat) or
agreement: sCUrE4 by Dueler. d in t Withetit Lender's prtor`Writter
p T Mortgagor will pay alt taxes. ap
ground item 1 atnti :tottn its ge8;_relt to the Properl
provide to .tender dopias of all ti tices :that ,sue# amounts
yment. Mo agtor snit t t P a tot:.:tigaittEtt any
tnstrurir int. to. 040346 try ,en der., 'as
:Mort en rati� ttia+ a egsfha t pe hr puppy ebor or trust
tae een attd
delivery a
tie h ortosg or is :a petty.
0 i
rm
gagor has :tha right ate: tc srrr lhtc thin w
trl. Errstrurnent wilt not vieler Bony ag ►rnerat: 11e
er. g8. Vt# s9 &886. I
tits receipts
t k er, 00Y 11„ gl
In or ti irriVO:
ztir'ede
pirrn
y
GT
000653
No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent
except that Mortgagor has the right to remove items of personal property comprising a part of the Property that
become worn or obsolete, provided that such personal property is replaced with other personal property at least
equal in value to the replaced personal property, free from any title retention device, security agreement or other
encumbrance. Such replacement of personal property will be deemed subject to the security interest created by
this Security Instrument. Mortgagor will not partition or subdivide the Property without Lender's prior written
consent.
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 will give Mortgagor notice at the time of or before an inspection specifying a
reasonable purpose for the inspection. Any inspection of the Property will be entirely for Lender's benefit and
Mortgagor will in no way rely Landers inspection.
9. AUTHORITY TO PERFORM. If. Mortgagor fails to perform any duty or any of the covenants contained in this
Security Instrument, Lender may, wt 1t notice, perform or cause them to be performed. Mortgagor appoints
Lender as attorney in fact to ign ajor's a or pay of attto it cessary for performance. Lender's right
to perform for MortgagOr. w :not to an .obligiOon "to' rm. and tender's failure to perform will not preclude
Lender from front axe
asfrny Of Lender a other tighttr rights the jaw tia'a Security Instrument. If any construction
on the Property is discontinued or not carried on in a reaSenable manner,. Lender may take all steps necessary to
protect Lender's security interest in the Property, including completion of the construction.
10. DEFAULT. Mortgagor will be in default if any of the following events (known separately and collectively as an
Event of Default) occur:
A. Payments. Mortgagor or Borrower fail to make a payment in full when due.
8. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf
of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the
voluntary or involuntary termination of existence by, or the commencement of any proceeding under any
present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or
against Mortgagor, Borrower, or any co- signer, endorser, surety or guarantor of this Security Instrument or any
other obligations Borrower has with Lender.
C. Death or Incompetency. Mortgagor dies or is declared legally incompetent.
D. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this
Security Instrument.
E. Other Documents. A default occurs under the terms of any other document relating to the Secured Debts.
F. Other Agreements. Mortgager is in default on any '.other d t or agreement Mortgagor has with Lender.
G. Misrepresentation. 'Mortgagor makes any verbal or wry statement or provides any financial information
that is, un iriSocurats, or dertosala .e "mat lai'laor St the time is made or provided.
H. Juga. Mortgagor fails to satisfy or appeal any judgment against Mortgagor.
I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority.
J. Name Change. Mortgagor changes Mortgagor's name or assumes an additional name without notifying
Lender before making such a change.
K. Parc>pey: Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money or property. This
condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
DUE 0*SALE
L. Property Value. Lender determines in good faith that the value of the Property has declined or is impaired.
M. Insecurity. Lender determines in good faith that a material adverse change has occurred in Borrower's
financial condition from the conditions set forth in Borrower's most recent financial statement before the date
of this Security Instrument or that the prospect for payment or performance of the Secured Debts is impaired
for any reason.
11. REMEDIES. On or after the occurrence of an Event of Default, Lender may use any and all remedies Lender
has under state or federal law or in any document relating to the Secured Debts, including, without limitation, the
power to sell the Property. Any amounts advanced on Mortgagor's behalf will be immediately due and may be
FRANK MOONEYHAN
Wyoming Mortgage
W Y /4X PTOLMAN00000000000601062112610 N
Wolters Kluwer Financial Services ®1996, 2010 Bankers Systems"" Page 3
added to the balance owing under the Secured Debts. Lender may make a claim for any and all insurance benefits
or refunds that may be available on Mortgagor's default.
Subject to any right to cure, required time schedules or any other notice rights Mortgagor may have under federal
and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts
immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence of an
Event of Default or anytime thereafter.
Upon any sale of the Property, Lender will make and deliver a special or limited warranty deed that conveys the
property sold to the purchaser or purchasers. Under this special or limited warranty deed, Lender will covenant
that Lender has not caused or allowed a lien or an encumbrance to burden the Property and that Lender will
specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims
and demand of all persons claiming by, through or under Lender. The recitals in any deed of conveyance will be
prima facie evidence of the facts set forth therein.
All remedies are distinct, cumulative and not exclusive, and 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 Debts after the balance is due or is accelerated or after foreclosure proceedings are filed will not
constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising
any remedy, Lender does not waive Lender's right to later consider the event a default if it continues or happens
again.
12. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after the occurrence of an Event of Default, to the
extent permitted by law, Mortgagor agrees to pay all expenses of collection, enforcement or protection of
Lender's rights and remedies under this Security Instrument or any other document relating to the Secured Debts.
Mortgagor agrees to pay expenses for Lender to inspect and preserve the Property and for any recordation costs
of releasing the Property from this Security Instrument. Expenses include, but are not limited to, attorneys' fees,
court costs and other legal expenses. These expenses are due and payable immediately. If not paid immediately,
these expenses will bear interest from the date of payment until paid in full at the highest interest rate in effect as
provided for in the terms of the Secured Debts. In addition, to the extent permitted by the United States
Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees incurred by Lender to protect Lender's
rights and interests in connection with any bankruptcy proceedings initiated by or against Mortgagor.
13. 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.), 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 substance," "hazardous waste," "hazardous substance," or "regulated 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 has been,
is, or will be located, transported, manufactured, treated, refined, or handled by any person on, under or about
the Property, except in the ordinary course of business and in strict compliance with all applicable
Environmental Law.
8. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor has not and will not
cause, contribute to, or permit the release of any Hazardous Substance on the Property.
C. Mortgagor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance
occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there is
a violation of any Environmental Law concerning the Property. in such an event, Mortgagor will take all
necessary remedial action in accordance with Environmental Law.
D. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor has no knowledge of or
reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating to
(1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Mortgagor or any
FRANK MOONEYHAN
Wyoming Mortgage
WY, 4XPTOLMAN0000000000060
Ill 11 t' IMI III IIIIN�I i I �lal' III INI
000
Wolters Kluwer Financial Services 2010 Bankers SystemsT" Page 4
tenant of any Environmental Law. Mortgagor will immediately notify Lender in writing as soon as Mortgagor
has reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an
event, Lender has the right, but not the obligation, to participate in any such proceeding including the right to
receive copies of any documents relating to such proceedings.
E. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have
been, are and will remain in full compliance with any applicable Environmental Law.
F. Except as previously disclosed and acknowledged in writing to Lender, there are no underground storage
tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be
added unless Lender first consents in writing.
G. Mortgagor will regularly inspect the Property, monitor the activities and operations on the Property, and
confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and
complied with.
H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the
Property and review all records at any reasonable time to determine (1) the existence, location and nature of
any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude
of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not
Mortgagor and any tenant are in compliance with applicable Environmental Law.
I. Upon Lender's request and at any time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified
environmental engineer to prepare an environmental audit of the Property and to submit the results of such
audit to Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's
approval.
J. Lender has the right, but not the obligation, to perform any of Mortgagor's obligations under this section at
Mortgagor's expense.
K. As a consequence of any breach of any representation, warranty or promise made in this section, (1)
Mortgagor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all
losses, claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses,
including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or
assigns may sustain; and (2) at Lender's discretion, Lender may release this Security Instrument and in return
Mortgagor will provide Lender with collateral of at least equal value to the Property without prejudice to any of
Lender's rights under this Security Instrument.
L. Notwithstanding any of the language contained in this Security Instrument to the contrary, the terms of this
section will survive any foreclosure or satisfaction of this Security Instrument regardless of any passage of title
to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the contrary
are hereby waived.
14. 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 will 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.
15. INSURANCE. Mortgagor agrees to keep the Property insured against the risks reasonably associated with the
Property. Mortgagor will maintain this insurance in the amounts Lender requires. This insurance will last until the
Property is released from this Security Instrument. What Lender requires pursuant to the preceding two sentences
can change during the term of the Secured Debts. Mortgagor may choose the insurance company, subject to
Lender's approval, which will not be unreasonably withheld.
All insurance policies and renewals will include a standard "mortgage clause" and, where applicable, "loss payee
clause." If required by Lender, Mortgagor agrees to maintain comprehensive general liability insurance and rental
loss or business interruption insurance in amounts and under policies acceptable to Lender. The comprehensive
general liability insurance must name Lender as an additional insured. The rental loss or business interruption
FRANK MOONEYHAN
Wyoming Mortgage
WYI4XPTOLMAN00000000000801082112610N
Wolters Kluwer Financial Services 0 1996, 2010 Bankers Systeme" Page 5
imatrarma
aeodunt depc
1 7 .••;00PlftS.
re
be..0
pay for the nsurance or
may he wtte rt:f by a
Mortgagor cotd obtainWM
he
will no be requred
to the e
Oetite ft*: A rt.444aCiattrat*•:..
vrnwe
aaf nghts that may pravant Lender from br1ngk any 000pn ar claim aa1nst
ltiftwittitturfOovi00*.Oii***
4000 to tie exitent:.frohibited-tiyiekri„ 'Atiortgagot'weives alt:trornerrOsed:ei*rititierfrtt#Crietaling
1.9..,:, ..i: :T104
on e PTOPeTtY
1:000:*••
1 APPUCA�LE LAW 4'i''''''.RIS.::gifeknitY. t
•:Aa akoka ,.:0:,..: Atoji.ioti ikii -:-:40:
etatelaweare..prernottid:•byiedenitt. kw;
11,.• E 404W t.....
100000#.t:*.e f itoof:'•.:0-.
igiNta.004•::of t
1tot.:::' Len d&
sbfl be ob1lated unde thls Secu qfty '•tostotoiiiiWtOr• the: e-•
tj.otOotit:
•:.1*1001:::::
ficr:th
41y-:AV4
ff#A4::
elideeeigh4eftende.r:erA4 br.tootiori
o o fo r.O .Oa .b ia.•
1 AT
104.attti.ffidyt.4::
*401044 i..0044.*
v.:
WW 4 XPTO 11400460006013. 00606014462
obligat.
jor the Property 19.0
.es fl: :000.004Ortliinot.,00.1fer 010,40naf6rWOrt et en
tf?
A.
Debts :a*' the *1� a
is :unenf•rteehla, ihon:lhe ,unitritoiloibte
no
airterient:444
00065G
or f 'moo
agar oto
.and 'eat 'MO%
at the
r,
rite t n
ear Lander or
Atyl tt
Atetes of
Y- 3 ofata& except to
may 5t
;Woes KILIWK,KNOilk601 Se& Me eankeffs 6)(6
-.AN*
rtgagOr
Mortegor *111
ept uteis a
Or OW
i may
aiy rt.)(
0 .0 1 or
:ine,• of
tha••aalt.caaaora
Vtlatala‘rariVisedk.41*...:, .,1#40:$1014t.., The
m are notto ba-•-ireed:idinterprettirt. ineltte'ternlitEOUltile
24. NOTICE, FINANCIAL REPORTS, ADDITIONAL DOCUMENTS AND RECORDING TAXES. Unless otherwise
required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate party's
address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one
Mortgagor will be deemed to be notice to all Mortgagors. Mortgagor will inform Lender in writing of any change in
Mortgagor's name, address or other application information. Mortgagor will provide Lender any financial
statements or information Lender requests. All financial statements and information Mortgagor gives Lender will
be correct and complete. Mortgagor agrees to pay all expenses, charges and taxes in connection with the
preparation and recording of this Security Instrument. 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 to confirm Lender's lien status on any Property, and Mortgagor
agrees to pay all expenses, charges and taxes in connection with the preparation and recording thereof. Time is
of the essence.
SIGNATURES. By signing, Mortgagor agrees to the terms and covenants contained in this Security Instrument.
Mortgagor also acknowledges receipt of a copy of this Security Instrument.
MORTGAGOR:
FRANK MQCIEYHAN
Individually
LENDER:
The Bank Of Star Valley
Seth Jenkins, Vice Presi nt
FRANK MOONEYNAN
Wyoming Mortgage
WYl4X PTOLMAN0000000000060 1062 1 1 2 81 0N
Wolters Kluwer Financial Services '1996, 2010 Bankers Systems"" Page 7
657
re'
70!5. JULIE R. WASSENAAR
s t t' Notary Public State of Florida
,m My Comm. Expires Oct 31, 2013
Cs ommission DD 905116
%ep iio' Bonded Through National Notary Assn.
4L9ni er.Ackno 6 nie $i OF
yk:
This i nsthatient was
Sett Jankfrit Vicie i
C
r1/
NOTARY PUBLIC
n .expires:
STATE OF
WYOMING
SfpN ExIfRxtUflRY
re: the this J/'
a Of Star Valley.
le/
tedll SS.
day Of. 1 Lam
000655
by
NTL -56251
"EXHIBIT A"
Lot 24 of the Estates at Valli -Vu, Lincoln County, Wyoming as described on the official plat filed on December 1, 2006
as instrument No. 924974 of records of the Lincoln County Clerk.
i J659