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HomeMy WebLinkAbout87205186/L/0 L AM uuod N14 'pn010 •1S "OuI 'swelsAS sie )fuel b66 L (t' /o (Bsd/ 13Sf1 VA 110 YHA '01N1Hd 'VWNd HOJ ION) 30VO1801N 1K1380 AO 3N11 41.In03 3INOH DrlIINOAM 00 3o Janet( MI NI oo /n/L GELVU mom A2IOSSIYD Id (•(s)lgap tpns fo aivp rfyunwtu jnutf gill apnput pinous nog( pun panwas (s)tgap atj1 votjiaads isntu noi) •suot3nij sgns .to suotlgot,Itpout `stgmaual 'suotsualxa haul jig pug moiaq pagposap lgap jo aouaptna Iaglo Io (s)AluglgnS '(s)1og1luoo `(s)alou eC1osstuto1d its jo stuaal all Iapun paunout 1gaQ •d :smotto3 sg paut,Iap sl „1gau paanoas„ uual aqi 'saDNvAQv auto u (INV ,Egad QaaaOaS 'b •luautnllsui Al Incas sup ut pautsluoo slueuanoo all jo Aug uuopiad o1 pus Aliinaas s,Iapuaj loaload of luauttulsui £l stly jo sum) aq1 Iapun apsut saauenpg o1 Aidde you saop uougltuut sill 'ow •luatutuisui Ayt.tnoas sup o1 lugns.tnd am' Aiptign sip pug saal 1aulo pus 1sa.tang apniout you saop lunotue jo uoueltuttt snit' 00' 000 f oS paaoxa 1ou nulls atutl auo Aug 1g luatun1lsul illmoag spy iiq painnas lunotus igdtoupd idol alit' ',LIII'I NOISVOI1(10 L IfW.IIXVJN „Auadold„ sg of pauajai tis) anogg pagluosap mum igal alt' jo tied aq 'mum all tit gutty Aug 1g JO `moU sluatuaoetdat pug 'slimy 'sumlotuls `sluatuanoadtut aitunj pug Supstxa tig pug Stools .tarm pus 'sagoup `spiSti ugpgdu pug Ia1gm tie `spi2ti sg2 pug no 's2g2u ig1auiut 'santgAat 'saaueuaunddg `sluautasga 'mgt.' ils tptm .tagia8o i, all pug (Imo) dIZ) 8ZTE8 2ututofCM 011E8 AM Ti NQIONIHSVM f78E L008 XOH 0 d ENIIADAM 30 SLUES SILL dO SM'dn am Emma JNLISIXi3 CET/ (I3ZINVOZI0 AarrIKA IIVJ1S 30 ?MS HELL R 2011:010301/ 103 911 slg.L oAogy ands OOOZ i7Z A'Ifr )flJ 1J ,'..LN110'3 `N10 N1 1 SNId'Ikt (,(luno0) is k- RajNI'I tit payout si ,ioadold aii,L (4 3) (ssa.lppy) 3AI2iQ NIVINC1014 8E9 •ONflD1M '23IEEENAIEDI ,LK ?i2En 2JN[1QJ SHL HZIM =I3 dCellEIRL `IYIDI330 MIL NO NMOHS S\1 Z 'WYE, ONI SESIZIddilaII MHIA LZ J,CJI :Auadotd paquosap Sutmotto3 all `gigs 3o iamod gptM '.tapuaZ o1 slueuem pug sag2oout 'siCanuoa 'suta.tgq 'smug IoRgaoow 'luautn.nsui 41noas stgl 1apun aoueuuoJaod s,ule!ooN pug (moiaq paut,Iap) ma Ninon all aanoas of pug `papaimouvg st gotgm jo i ouatotjjns pug ldtaoat alp `uouriaptsuoo aigenign pug pool Io '1ONVAHANO3 'Z sluguapatmompg pus salnlguats Italy 's.1ag2uoll puoiuppg of 'Luang paletodloout utnpuappd pagogng ag1 o1 .'°Ja•T 'papaw 3I 8ZTE8 XM aNld'Iv t75t7E xog Od OZ IMI SZNaw[NRW.y ANY (INV 'L661 S 12IggOZ00 QnVQ ZS112IZ ONIAI'I SNI?RIgd gHZ 2l QNII, ZSl12I NI S?IOSSg00fIS 2IIdHZ 210 'Salisn1s 'SNI)Nad 'M QNV :2IOJd9J?IOJA :smottoj sit aIg `pa.unbal 3t `siaqutnu uotlso!Jtluapt xgl pug sassatppg Itatp 'soloed st (luautnllsul Alllnaas) aSeSoow sill 3o amp agy 'SaLLIIdd atiV ZING (amp aouenpd amnia g1tM) aDVD UIOI 9 LSOdd 21d O9 NOOH ISOZL8 SUImoLM jo arils 08724 i1. 717 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 other 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. In the event that Lender fails to provide any necessary notice of the right of rescission with respect to any additional indebtedness secured under paragraph B of this Section, Lender waives any subsequent security interest in the Mortgagor's principal dwelling that is created by this Security Instrument (but does not waive the security interest for the debts referenced in paragraph A of this Section). 5. MORTGAGE COVENANTS. Mortgagor agrees that the covenants in this section are material obligations under the Secured Debt and this Security Instrument. If Mortgagor breaches any covenant in this section, Lender may refuse to make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Mortgagor's breach, Lender does not waive Lender's right to later consider the event a breach if it happens again. 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. 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 to make all payments when due and to perform or comply with all covenants. Mortgagor also agrees 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 approval. 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. 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 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. 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. 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. 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. 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 loperty according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediately by Mortgagor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Lender's option. 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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. 12. 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. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 13. SEVERABILITY; INTERPRETATION. 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 Instrument. 14. 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. 15. 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. 16. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 17. APPLICABLE LAW. This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to the extent required by the laws of the jurisdiction where the Property is located, and applicable federal laws and regulations. 18. 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] Assignment of Leases and Rents Other 19. 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. X (Signature) KENT L PERKINS TRLTS'1'1 ate) (Signatu ACKNOWLEDGMENT: te l v STATE OF (,r 611411 11 1 COUNTY OF4.. I 4 (Individual) This instrument was acknowledged efore me this 2 day of byLUNT..LA..P.RJ KZNS..AND.MARILYN. i....P.F.RKZNS.,..TRUS RS.,..R My commission expires: UNDER THE PERKINS LIVING y, DAT (Seal) j AMENDMENTS THERETO 1 COUNTY OF LINCOLN STATE OF WYOMING 01994 Banke 0 a I c., St. Cloud, MN Form; "9- REMTG WY 10/7/98 Z i z i se dc„.„‘Z.,,„ W PII2K NS, TRUSTEE (Date) 7/S ss. DUE S.SDRS TRUS R 15, 1997, AND ANY rr (Notary Public) (page 4 of 4)