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HomeMy WebLinkAbout963617RECORDATION REQUESTED RV: 1st Bank Afton 314 South Washington St, P.D. Sox 1620 Afton, WY 03110 WHEN RECORDED MAIL, TO 1st Bank Afton 314 South Washington St, P.O. Box 1620 Afton, WY 63110 SEND TAX NOTICES TO: lot Bank Afton 314 South Weshington St, P.O. Box 1620 Afton, WY 83110 RECEIVED 3/12/2012 at 2:12 PM RECEIVING 963617 BOOK: 782 PAGE: 768 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY MORTGAGE THIS MORTGAGE dated March 9, 2012, Is made and executed between .STEVEN W AMANIN (referred to below as "Grantor") and 1St Bank, whose address is 314 South Washington Si P,0, Box 1620, Afton, WY 83110 (referred to below as "Lender"), GRANT OF MORTGAGE. For vatueble consideration, Grantor mortgages and conveys to Lender all of Grantor's right, tide, end interest 0 and to the following deocrthed real property, togothar with Mt existing or th,bsequently erected or affixed buildings, improvements and fixtures; ail imearnonts, rights of way, and appurtenances; oil Watar, water rights, watercourses and ditch rights {Including stock in utilities with ditch or irrigation reboil, and all ethic riohts, royalties, and profit's miming to the real property, including without limitation ell nano ras, oil, oak geothermal and Minder matters, (the 'Real Property") located In LINCOLN County, State of Wyoming See EXHIBIT "A', which is attached to this Mortgage and made a part of this Mortgage as If fully set forth herein. The Real Property or its address Is commonly known as 135 ADAMS STREET, AFTON, WY 83110, CROSS.COLLATERALIZATION. In addition to the Note, this Mortgage secures All obligations, debts end liabilities, Otis interest thereon, al Grantor to Lender, or any ono or mom of them, es well os all derma by Lender against Grantor or any one or more of tham, whether now existing or 1u/refiner arising, whethor rotated or unrelated to the purpose of the Note, whether voluntary or otharwita, whether duo 00 001 duo direct or indirect, determined or undetermined, absolute Or contingent, liquidated or untiquidatad, whether Grantor may be Pablo Individually or Manly trahh others, whether obligated as guarantor, surety, accommodation tarty or otherwite, end whether' recovery upon such amount& may ho or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. Grantor presently assigns to Londe, all of Grantors right, title, and Mterast in end to all wooing and futi.00 t00000 af the Property mooed I Rents from the Properly. In addition, Grantor grants to Lander a Uniform Commercial Coda security Interest in the Personal Ploperty and Rents, THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE. INDERTEDNESs AND 181 PERFORMANCE OP ANY AND ALL 061-MATIONS UNDER THE NOTE. THE RELATED DOCUMENTS. AND THIS MORTGAGE, THIS MORTGAGE IS GIVEN AND ACCEPTED 000 THE FOLLOWING TERMS': PAYMENT AND PERFORMANCE, Except es otherwise provided in this Mortgage. Grantor shall pay to Lender all a00001000 :00010001d by this Mortgage as they become anti shall strictly perform ell of Grantor's obligations under ibis Mortgage. POSSESSION AND MAINTENANCE OF THE PROPERTY. Granter agrees that Grantor's possession and use of the Property shell be governed by the following:provisions, Postestion and Dee. One th e oecurrenca uf an 0 al Default. Grantor may 111 remain M Perca'scam acid 0 000(01 nt the Pr)perty: use, operate or manage the Property, and 131 collect the Rents from the Property, Duty to Maintain, Grantor shell Maintain the Property tenantable condition and prompity perform ell repairs, reelect:mi.:00s, and maintenance romeasary 10 pretiortiaho 00100, Compliance With EnWronmontol Laws. Gomm, repreeentaand warrants to Lender that: During the period 01 GrantOr't Own(06Np of. the Property, there has been no use, generation'. manufacture, storage, treatment, disposal, release or thromened release of any Haaarcious Subetance by any person Orl,• tinder, allOtIT or front (ha Pramety; (21 Grantor has no knowlotige e1 or reeson to bellows that there hes been, 000041 es Previdusly disclosed to and acknowledged by Lender in writing, fat. any breach or'violatIon ssil any Environmental Laws, th) any UStl, generation, manufecture, amine, treatment, disposal, release or threatonocl rale/tea ot any Hazardous Substance 00, under abOUT or tram tho.Property by any prior owners or occupants of the Property, ar tc} any yetual ar threatened litigation or claims 01 any. kind by any ponied rotating to such manors and 130 Excerpt as previously disclosed to and acknowledged by Loridorin writing, lei Mather Grantor .nor Any tenant, connector, agent or other authorized user of the Property shalt 010, generate, menufacttm, store,. treat, diapota of or release any Hazardous Substance on, tinder, about or from tne Property; and (te 'any such actlitity Viva be conducted In compliance witnall applicable federal, state, and iawo, regulations and ordineccoa, inciudeg Without limitation till Erwirocimental Lows.. Greater eutherlzes Lender and Ila agonts to enter upon the Property to make such inspections and 00010, at 0100110 '0 eXpense, as Lender may druen appreprieto to dopamine IT aniplianco or the Property with this section ot Otto Mortgage. Any loapections or tests mote by Lorador shall be. for tender's purposes only and shall not be construed to oriole any responsibility or liability an the part of Lander to Grantor 01 10 any other parson. The reprosentationt and warranties contained .heroin are travad. on Grantor's duo dillgenco in investigating the Property fur Hozardous Substances.. Grantor horaby 011 releases and waives any future CIMIna against Lender for indemnity or contribution in the avant .Grantor becomet liable for cleanup or other 00006 under any such laws; and f agrees to indemnify, defend, and hold harmless Lender against any and all claims, lasses, 661)111(1os, 'damages, penalties, and expenses which Lando( may directly 31 ndireetiy sustain or.. suitor resulting from e breach ot this section of the Mortgage or at it consequence of any ate, generation, manufacture, storage, disposer. .reittaati or threatened reloaso..oceurrIng prior to Grantor's ownership or interest in the Property, whether or not the tame WAS or shoukt have been known to Gwent'. The provisions Of this section at the Mortgage, Including the Obligation to imientnify and dofend shall survive Me payment al theindohnodnesti and the Satisfaction end roconvoyance of the lien of this Mortgage and shall nal he affected by Lender's, acquisition Of any interest in the Property, whorhor by foreclosure or otherwise. Nuisance, Waste, Grantor shall not cause, conduct 00 401011 any nuisance nor commit, permit, or totter any stripping of or waste On Or te the Property or any portion Mahe Property. Without Smiting the 3000000 03 of the foregoing, Grantor will nOt remove, or Want lo any other dome tho Relit 18 000001(0 any timber, minerals OricludIng oil end gest, coat, day, scoria, sail, gravel or ruck feaducta 11 '1 Lender's prior written consent. Remove) of improvetnants. Grantor shalt not demolish or rnevit any linproyernerns from me Real Prooe.rty without Lender's prior written consent, As 71 condition to the r0r1100101‘10 any imitrovements, Lender may require Grantor to atatiO ar1 ange1nant0 satisfactory in Lender ar sapiece such kriproveinents with improvemenia ol at !east. equal value, Lender Right to Einar. Lender and Lendar's agents and roccasentrilivez only enter upon thu Real Property at all reasonable thaeo 10 attend to Lando ett ntar0010 and to 11000001 Oho Reef Property for purposes (10 Grantor's complianea with the terms and conditions of nes Mortgage: Coingilanco with Governmental Requirements. Grantor shall prOntotly comply With all laws ..ordinances, and regulations. a OW or hereafter. In effect, of all 3101(0 (11(80000 authorities applicable to the von or occupericy of 1h 41040013' including With011t limitation, the Americans With Disabilities Act. Grantor may contest In good faint any such law: ordinance, or reguratiOn and v40016 COrnolianco Miring any proceadingincluding appropriate appeals, so long as Grantor hes notified Lender in writing prior td doing ea and 01) long as, in Lender'S 00768 MORTGAGE Loan No 61013991 (Continued) 00769 Page 2 solo opinlon,- Lender's interests in that. Property am not joopardized. Landon may require Grantor to post adetivata aaourity or a surety bond reasonably Satisfactory to Lander; to wreath Lander's interest. Duty to.:Protaat... Grantor agrees neither' to abandon or leave unertended the Property.Grantor shall do elf other acts, in addition to those acts ear forth eboee to this seelien..whlch from"the character and ueo of the Property are reasonably necessary to protect and praserva'014 Praparty: TAXES AND LIENS, The following provis ions rotating to the taxes and lions on the Property are part of this More /age:. Peyrnant. Grantor shall pay when due and in all ovcnra prlor to delinqua+lcyl all taxea, payroll taxes, epeclol taxes, assesamants, wgtar charges and sawer'sarvia° charges Iavlati against or on account of the Property. and shall pay whon due all claims for work done on of fair .sorv(cesaranderet or materiel furnished to rho Property. Grantor' shall maintain the Pro perty free at any awns: having priority mar or equal to tho`lntarest<0t.ender under thin Mortgage; except for those liens specifically' agreed to in writing by Lender,: and except for the lion of taxes and assesamanta not due ea further apoCifiad in the Right to Cantgat paragraph, Right. to Contest.. 01411<10. may withheld payrnorit•ol any tax: assortment, or 'claim in conneetloh with -a, goad 11th disputa; the tibligation to pay, so long ea Lender's interest in the Property is not janpardlzod, If a Ilen timer; or (a filed as a matte of nonpayman1 Grantor shall within fitment (1 5) days attar the ilen radar)* or, if a lion is filed, within lifteen (1 5) days altar Grantor has natica of tltq tiling, aaeura the discharge oftheIlan, or if rettuaatad by Lender, deposit with Lender cash or a sufficient corporate surety bond mother aar,tafty Fatislactory to lender In an amount sufficient to dtsahar,a rho lien plus any coats and ntaeonabia att0pteya" leas, or other ehargaa that could' 8tenet as a rostra of a foreclosure or sale under the lien_ In any contest, Grantor shall defend Itself and Lender 5011 shell satisty:any adyorsa lodgment before enforcement ogainsr rite Property. Grantor *roll name Lender as an additional obligee under any surety: bond furnished In that contest proceedings. Evident, of Payment. Grantor shall upon demand furnish to Lender so tie (notary evidence of paymentof the taxes ar assessments and shall. authorize the approprlata govornment0( official to dellvar to•Lender at any li ar written statement of than taxes and aaaassmen1lo 0941115/ the Property. Notice of Construction. Grantor shall notify Lender at least fifteen 1151 days before any work is commenced, any services are furnished, ref any materials. ere supplied' to the Property. if any%mechanic's Ilan, materialntan'a lien, or other lion could tea asserted tin account of the work, services, or materials. Granter will upon request al Lander tunas!) to Lander advance 50801(806os..satisfactory to Lawler deft Grimm". earl and will pay the oust of 'Such improvements. PROPERTY bAMAGEINSURANCE; The following provisions relatiPig to insuring the Property are a part of this Mortgagtit Maintenance of lasuranra. Grantor shall procure and maintain policies of fire iieuranoa with standard maim:fad coverage ondnrsamgnta on a roplaaoment basis tar the full insurable value covering an Improvemoma on die Rata Property in an am0uni sulhciant to avoid application Of any Coinsurance c lause, and with a standard nicngatjoa clause in favor •ol Lander. Grantor shall also procure and maint511; comprohensive aware! liability 10surence 10 such coverage amounts at Landon may request .with Lender haling nemod 0$ additional inauraret in such gabany insurance poticias. Additionally, Grantor shall maintain such other insurance, Inctuding out not limited to hazard; business let irruption and boiler insurance as Lander may require. Poach% shall be written by such insurance companies and in such form a4 may bra reasonably acceptable m (.ender. Grantor shall deliver to Lander cartihcates of 00001890 from each Insurer containing a stipulation that 000010ga will not b0. cancellad or dirnlnistied •wlthouta m101<00n of thirty (301 days' prior written n00100 to Lender 504 fiat lontaitiing arty disclaimer of the Meares liability ter failure to give ouch notice. Each insurance policy also shallIrtcludu.an endorsement providing. that 000014ga•in layerol Lender will not be impaired in any by any act, omission:o: iiotauitof Grantor orany other person. Should the Real Projtarty.ho located in an watt designated by the Otreator of the Federal Emergency Managsmont Agency es. a spatial flood hazard. Grantor egress to obtain and Maintain Fadaral Hood Insurance, if available. within 45 flays after not100 is given by Lander that fho Properly is located In a spacial Hood hazard area, .for Ina full- unpaid principal l,rilanco of tiiei..luan and any prior `ions on tha.prgparty.gocuring. lean, up' the maximum policy omits set andertha National flood Insurance Program, or sat otherwise roouired by Lender, and to maintain suOh frtsutanca for the ttrcm.01 the 1000.. Appliostlon •of procoada,. Grantor shall promptly notify Lander of any kiwi or damafle.to rho Property if the astenlatad cost of ropa €r' ur mpiac0ment exceeds 11,600.00, Lender may make proof of loss if Grantor tails to do so within ttftean 1151 days al ilia riasuslty.. Whether or not Lender's so0urity is Intporred, Lando may, at Lender's election, receive end retain thaProceeds et any insurance and Stella Ow procaads to the reduction of the Indabtedness,payment of any (fen affecting the Property, or the restoration: and repair ct the Property, If LaMar elects to apply the proceeds to restoration and repair, Grentor.shait repair or replace the damaged or destroyed Improvements h a manner sstisfact(iry to Lando. Lender shall, upon satisfactory proof of ouch expendltura, flay or NW/Mersa Grantor hole the proceeds for rho roeaanable east' of repair or restoration if Grantor is not in default under this Mortgage., Any piocaods which have not bean dialrursed within .1 8.0 days after their receipt and which tundra has not committed to the repair or restoration of the Property shall bo uoad first le pay any amount nwtnp to Londe( under INS Mortgage, then to pay accrued interest., and the remainder, it -any, shall be applied to the principal balance •al the Indebtedh0se. f1. Landar hd((44 any proceeds after payment In foil of the indobtadnoas, such procaada shall be paid tie Grantor as Grantor's interests may appear, LENDER'S EXPENDITURES. if any action or proceeding is commoners) that would materially' aflopt t.ender'e, metes, lathe Properly or if Grantor tans 'to Gornp(y with arty provision: of this Martgago 0r any Ralatad Documents, inclvd(ng but not timitod:to Grantor's failure to dlachargo or pay whim duo any amounts Grantor is required to discharge or pay under this Mortgage or any Rolatod Lender on Grantor's behalf may {but alall 100* be obligated t.o1 take any action that Lander daems.appropdata, Including but.not limited to discharging or paying al tease, liana;: atiturity tntaroste, opcumbroncea and other 0(0ith8.. stony time Naiad or •plscad on the Praporty and paying all roet`a for insuring, maintaining and pos0rvinq the Property. All such exponditurea incurrod or paid by Lender lot such purposes will than bear'intoreetat the rete charged under the. Nola kern tile. date Incurred le paid by Lonrho to the dam of repaymont by Cirantar. All such eepenses will bitcote a. pat of ilia Indebtedness and; ,at Lender's option', VIII (AI Lie payabla on demands Oh he added to dui thalanc0 of Ina Note and be apportioned among end be payable with' any tnstai(motol payments to Woe= due during either (11 tha 18m1 of any applicabio insuranco policy; or (2) the remaining torn, of that Note; or IC) be treated ea a balloon payment which will be due and payable at the Note's maturity, The Mortgage also lira *rearm payment of these •afiidtrnrs, Such right shall be lr1 addiffan to another rights and remedies to which Lawlor may he entitled upon Cafauit.. WARRANTY i.DEFENSE t P'TfTLE, That follow ing pf <violons naiades to ownership. of the Property aro a punt ar (11(9 Mortgage: Title. Oranror:warrenta that, (a) Grantor holds ga0ci and marketable titlo at record to the Property In late sirnpin,,frao and clear of all lions and 0n0umbrancos other than those set forth in the Real Propmty description or in any tele assurance policy, title report, or final optrt(on iasu8d in favor ef, raid accepted by, Lerida( In connection with thla Mortgage, and (bi Craritor; halt the fu(i;rigllt, patvar; and authority 111 execute and deliver this Mortgage to Lender, Defense of Title. Subject to the excoplion in the paragraph above, Grantor warrants and will heaver defend the (1110 to the Preparty against the Claims of all persona. ln•the event any action. or proceeding is commanood that quoationa Grantees title or the interest of tender under this Mortgag0, Grantor shall defend the action''. at Grantor's expense. Grantor may be the nominal in suctt •proc08dtag, bat: Lender shrank.). anthem to perlicipeta.in the proceeding and to be represented in the proceeding by Catania: of LandOr's "own'cholce, and Greeter Will deliver, 40149<84, -to Mr delivered, to Lander such Instruments as Lander may request from tirnc::to time to panne'Vuch portieiparibn, t enipllanoe Wlth Laws. Grantor Warraota that the Property and Grantor's Ufea Ot 054 Property tor/talent With all exietl09 applicabla laws. ordinances, and rn9Ulfltions-pf gov8rnmantNl 8uthorit185, Surv(vai of Representations and Warranties. All teprasontations, warrantios, and agreements math by Greater in this M011909'5 shall survive the executton.ond deliviery of this Mortgage, shed be continuing In nature, and shall remain in lull force and effect omit soon .time as Grantor's Indebtedness shall 118 paid in lull, CONDEMNATION. The following provisions retaung 00 condemnation proceedings are a part of this Mortgage: Proaeodings. 'il any proceeding in condemnation is filed, Grantor shall promptly notify Condoriri writing, and Grantor shall promptly. t0k0 Welt' steps a8 may be n0ce88ary to defend dal action and obtain Ow award, Gre the may bat the nominal party in <Ueh 9108004109, but Landon shall bo endtlad to participate in the proceeding and to bat reprennted in the proceeding by counaal of its cwn.Choice, and Grantor will delivaror wawa to be. dativorod t o Lender such instruments and torlumoritation as rude bet 109018tgd try Lander Iron tithe to tens to. permit such participation: Applicatiiln of Not Prociads. If sit •or any part of the Property le condemned by eminent domain proceedings or by any proceeding or pufahaad In Ilou •o f carichennationa Lander May eats ()Motion require that all or any portion of the not proceeds of the surefd be atrpliad to the lixlebtedness or the repair or restoration of the Property. The net procoods of.ths award shall mean the award after payment of at' Loan No: 61013991 MORTGAGE (Continued) rensonable Posts, expenses', end attorneys' 1aae InCtirrod by Lander In connection with the condemn atfd IMPOSITION OF TAXES, F AND CHARGES NY GOVERNMENTAL AUTHORITIES, The fallowing prooloions relating to gavarrmauntie taxes, toes and charges am a pert this Mortgage: Currant Taxes, Pees end' Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and take whatever other action is requested by Landar to perfect and continuo Landar'o lien an the Raab Property, Grantor shall reimburse Loretta for all taxes, as described below, togothar with nil expenses incurred in recording, porloming or continuing this Mortgage, including without limitation oil texas, roes, doeurnnntory stamps; and other chorgoa_ for recording or registering this Mortgage Tho- following shall constitute 18008 td which this section applies; (1) a specific tax upon this type of Mortgage or upon oil or.any pert of the •indebtednosa secured by this Mortgage; 12) a specific tax on Grantor which Grantor Is •authorizod or required to deduct from payments an the Indebtedness scoured by this typo of Mortgage; {3) a lax on this type of Mortgage Chargeable a(tain81 the Lender er the holder of the Noto£ and (4) a specific tax on all or any portion of the Indobtodness hr on payments of principal and intan:st *nade by Grantor, Subsequent Taxes. If any tax to which this section eppIibo is onectod uubsogoant to the oat° of this Mortgage, this °vont yhallhovo:tha same. effect as an Evunt of Default, and Lender may exercise any or ail of So available remedies for an Event of Default as provided below unless Grantor either 111 pays the tax before it becomes delinquent, or (21 contests the tax es provided obese in the Taxoe and Lions section and deposits with Lender sash or a suhiolent corporate surety bond or other security satisfactory to Lender, SECURITY AGREEMENT FINANCING STATEMENTS. The foliuwirtg provisions relating to this Mortgage es'e security.: ere a part of thls';Mortgnge: Security' Agreement. This instrument shell constitute a Security Agreement to the extent any of the Property constitutes ffxiure:s. and Lender shall have ell of the rights 0( a secured perry under the Unitarm Ceremonial Coda as amended from time to• time. Security Internat. Upon raquost by'Lertdor, Grantor spoil take whatovor.oction Is requested by Lender to perfect and continuo Lender's security interest in lie Rents and Personal Property. In addition to recording. this Mortgage In the roof property records', Lender may, 01 0ne time and without further euthorizetion from Grantor,' fey executed counterparts, copies or reproductions of this Mortgage as a financing stoternont, Grantor shall reimburse tender for rill expenses incurred in perfecting or continuing this security interest, Upon. default, Gramm shalt not roinove; or detach the Personal Property from the Property. Upon default, Grantor shelllessembta. arty Personal Property not affixed to the Property Ina manner and at a plaoo reasonably convenient to Grantor end Lender and make it available to Londor wilhinthtee (ay days after racaipt of written demand tram Lender la the extent permitted by applicable low, Addresses. The•mrilling addresses of Grantor {debtor) and Lender Isecirred party) from which information concerning the security interest granted by this Mortgage may be obtained leach as moulted by the Uniform Commercial Code) are stated on the first pogo of this Mortgage. FURTHER ASSURANCES; ATTORNEY IN.FACT, The forlcising provisions feinting to further asairrSSSOS are attormay4mfaot are e part of this M1Otagatle( Further Assurances. At any time, and (fern time to time, upon request of Lender, Grantor will make. execute and deliver, or will cause' to be media; executed or delivered. to Lande1 or t0 Lender's designee, and when requested by Lender, cause tit. bet red. recorded, ,0)4)0;, or rereearded, •es the case may be, ::at such times anti in such offices and places as Lender %nay deem appropriate, any and all such mortgages. deeds 01 1lr3St, aucurlty deeds, Security agreements, financing statements, continuation statements, instruments of further assma(408 certificates, and other doeumercta as may, In'tha aete opinion cif Landar;. be necooaory Or 4e1340441 611 odor to affentuate,, complete. perfect continuo, or preserve 111 Grantor's obligations under the Note, this Mortgage, and the Flefated Documents, and 42I the tiaras and security intorosts.croatod by.thie Mortgage so first and prier liens on the Property, whether now owned or hereafter soquired by GGrantor,. Unless prohibitodrby Iow or Londor agrees 10 (he 00011*81*' in writing, Grantor shall reimburse Lender for all costs: end incurred in 00nn0otfan with the Matters referred to in this paragraph, Atwrnoyin•Foct. If Grantor falls to do.nny of the things referred to in the preceding paragraph, Laandar may do so for end io the nerno.ol Grantor and atGrantees expanse. For such purposes, Grantor hereby irrev0cobfy rrppoints Lender as Grantor's ettornoy.in- toct: for the purp0so; of milking, executing, delivering filing, recording. and doing all other things art miry be necessary et desirable, in Landar 'y solo apmion,'t0 accomplish the matters rofurr1d. the preceding paragraph. FULL PERFORMANCE. It :Greater pays as rho to ebtpdness Wean due, and otherwlso performs elf the obligations Imposed upon Grantor under Ihis Mortgage. Lender shall execute and deliver to Grantor a suitable satisfaction Of this Mortgage and euiteble statements of termination of :any financing statement an fibs evidencing Lender's security' interest in the Roots and the Personal Property, Grantor wil£ "stay, if permitted by ap(#fitshfa taw, any reasonable tgrrntnatinn loo. Se doternriatod by Lender from time to time, EVENTS :OF DEFAULT. Each of the 10110W)1•1, et Lender's option, shall constitute' an Event of Default under this Mortgage;:. Paymont:defoult. Grantor tails to make any poyment whoo due under the Indebtedness, Default on Other Payments. Failure of Grantor widths the One required by this Mortgage to mako any payment for 08x00 b rfnsuranoe, or any Other payment 'seem/stay 10 prevent filing of or to.ettoot discharge 0f any lien. Other. Defaults, Grantor tails to comply with or to perform any other term; obligation, t0venam pr condition contained in this folort*aga ar in any of the Related Documents 0r to comply with. 0r" to perform are term, 0 /Aeolian, Covenant or condition contained in any other agreement. between Lender and Grantor; Default in Favor. Of Third Patties, Shotdd Grantor default under any lean, extension of credit, Security agreement, purchase or sales' agreement, Or any oth10 agreement, in favor of any other oradi *Or Or person that may materially affect any of Grantor's property' of Grantor'* ability t0 ropey Iho Indebtedness or Grantor's ability to perform Granter's obligations undo( this Mortgage or any of the Renaud Rocumerits: False Statements, Any warranty. representation Of statement made or furnished to LendOr by Grantor or Ors Grantor's behalf under this Mongagaor the Relatod Documents is tolse, or misleading In any material respect, either now or at the limo. mode or furnished or becomes false or olsleadtrig at any time thereafter. De /active Calfatereilletlon, This Mortgage or any 01 the Rotated Dacurionis ceases to bit in lull toroo and Otluct:tlneltirding failure p1 any' 0ofteieral document to create a valid rand porfoctod eecurlty.fnterest or lien) at arty time end for any reason, Death or Insolvency. The death of Grantor, the Insolvency of Grantor, the appointment of 0 receiver tar any pert of Grantor's property, any easignnient for the benefit of creditor*, 0ny type of t;rocditof workout; 01 the oontm0n1emont of :any proceeding under any batixrt@p1Py df- fnoolvenoy lows by or against Grootarr, Creditor' or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judioisl proceeding, soltei0lp,. mpgsa °ssian 0f any Other method, by .arty crndiior of Grantor or by any governmental agency anoint* any .property securing the Indebtedness. This includes o garnishment of any. of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default *hill) not apply If there is a'good faith dispute by Grantor as to the validity or reasonableness et the claim which is the beget or rho 0reditor or forfeiture proceeding and It Grantor gives Lender written noose of the creditor or forfeiture proceeding and deposits with Lender.. monies Or Surety bond for the creditor or torleltura proceeding, et an amount determined by Londor, in •its'solo dla0r0ticn, as being 80' adequate reserve or borrd• the dispute. Nraach of Other Agrooment. Any breach by Grantor under tit's leans of any other agroomont between Grantor oncUlander that is. flat fomediod within any .gtoco period provided ihoroin, including. without limitation '3113 agreement' concerning any indebtedness or other ublIgotion'ot. Grantor to.Lender. whether existing now or lolor,. Events Affecting Guarantor.. of the preceding events oaouis with.rospett to any guarantor, endorsor, surety, or accommodation f:arty� Of :arty..ot the Indobtadnoea or 903 guarantor,; endorsor, surety, or sccomm0datlori party dicta or 'becomes inaom410108t or rev0k0S sat' dfsputos the validity of, or liability under, any Guaranty 01 the Indebtedness. Adverse Change, A material' adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment Or p0rlprrnanee of the Indebtedness is imparted, Insecurity. tender •in'good' faith believes Itself insecure, RIGHTS; .AND. .REMEDIES ON DEFAULT,. Upon tho occurrence of an Event of Default and at trey time Ittmoaner, Lender; at Lender's option; Yt ay. 00770 Loan No 6101399/ MORTGAGE (Continued) exercise any afro or More of 'tire f011Owtng rights and remedies, in addition to- any:othat. rigltta or relnatftoa provided by leer:: Accalerato Indebtedness. Lender shalt hifve the right at its option without notice to Granter t0 deeiar'a the entire Indeotodnass immodiateiy .duo and payable, including any prepayment penalty that Grantor would bo required to pay. UDC. Remedies. 'With respect to oil or any pert of the Personal Property, Lender shall have all the rights and remedies of Secured party under the Untlarm Commercial Cade: Collect Rants, Candor shell have the right, without notice to Grantor, to take posseseiun of the f roparty, including during. the ptrndniicy of loreciasurp, Whether judicial or nomjudclal. and 'collect the Rents. including amounts post due and unpaid, anti apply the net proceeds; over end above Lender's posts, against the indobtodnoss. In furtherance Of oils right Lender may require any tenant. :et other user of the Property to make, payments of font or trio foes directly to Lender. it the Rents are Cellacted by Lender. then Grantor Irrevocably doaignams Lender ea Grantor's nttornoyin• fact to endorse instruments received as payment thereof 7n the Herne of Grantor and to negotiate the same and ooliect thowtoceeds. Payments by tenants nr other uaura lq Lender in mammal; is Lender's dernand shall satiety the obligetinrt;. at which ho paymonta are merle, whether or not any proper grounds for the demand existed. Lender map 'exercise its rights Under this subparagraph either in person; byagerYt• or through a receiver. Appoint Receiver, tender shall have the right to It a recolvar sppointad to teka;poscossion of all 'or any' part cl Ma Property, with the power to protect and preserve ttte Property, to operate the Ptoporty preceding foraeioaure or sale, and to collect cite Rants from the Property and apply the proceeds, over and above the coat of the receivership, against the Indebtedness. The receiver may serve "Withotit bond if permitted by taw, Lender's right to the appointment of a receiver shall meet whether or not the apparent value a the Property exceeds the Indebtbdne by a substahtleJ omaunt. Employment by Lender shell not eiiaquality a person from serving as a teoetyer,. Judicial Forettosure. Lender'may obtains Judieial'dacrae foreclosing Grantor's intorear in alt oe any part of the Property. Nueludieiial Sala.. `Lender may foreclose Grentor'a.intcrest in all or In any part of the Property by nomjudfcial sale, and specifically by "power of sale" :or'advertiserrrent and. sale" ioroclosure as provided by statute. CJoficianay Judgnnant, If permitted by' a'pplicablc tow, Lancer may obtain a judgment for any deficiency remaining in the "latdebtedrusas due to Lender after application of all amounts received from the exrrcisa nf the rights provided in this section. Tananoy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above to Londor otherwise becomes onbtled tq poesy »atnn of the Property upon dofauk cf Grantor, Grantor shop became a tenant at sufferance or Lender or-the purchaser of thr, Prpporty and shau,-at Lender's option, either 11) pay o reasonable rental for the pea mf the Proneity, or i:1 vacate. the Properly immediately upon time dernand •of Londor. Other Rernamlies..Lender shill have alt other rights romadies provided in this Mortgage Or ilia f~JOte or aveiiabla at taw or rn equity,. Safe of The. Property, To the extent permitted by appucatfte law, Grantor' hereby wolves any and elf right to have the Property marshalled, n exercising Its rights and rernodlua, Lender shall be tree w sell as or any parr 01 the Property together or aaparatoly, in one sole or by saperme sales. Lender aheilibe. entitled to bid at any public sale on all or any portion nol rho Property, Notice of Sale. Lander shall' give Grantor roaannabfa notice of the time and place of any public stile pi the Personal Property or of the time altar-.which any private sate or other intended disposition of rho Personal Property Is to be, made. Reasonable notice shall mean notice blvoirt at.laast urn 11 0) days before the xlrna of the Sale or disposition, Any sole of the Personal Properly maybe mode in conjunction with any sole of the Real Property. Election. et Remedios. Election by Lender to pursue any remedy shag not exclude pursuit of any other remedy, and. en erection: to make oxpanditureS or to take action to portorm'en obligetion of Grantor under this Mortgage, after Grantor's fa ire to perlorni, shell ion affect Lender's right to deaIona a default and exercise itsrernodies. Nothing under this'Mortgago or otherwise shall be construed so as w limit err restrict the rights and remedies available to Londor following an Event of Default, or In any way 'to limit or rastrJct the rights and ability of Lander to proceed directly against Grantor andtor against any other co. guarantor, Surely or endorsor.andlor to proceed against .eny other collateral directly. or Indirectly securing the Indebtedness, Attorneys' Foos; Exwr acs, If Lender institutes any Suit or action to enforce any of the forms of this Moo tgaye,'Londe, shall be entitled to recover such Dunn as ere court: may adjudge: teammate.) as Attorneys' fees at trial and upon any appeal, Whether tar nil tiny court action a- involved, and to thin oxtont nor prohibited by law, sit reasonable expanses Lander incurs that In Lender's opinion are necessary at any time for the prutuotlon of ite,fnterast or the enforcement of its right's shall baccrne a part, of the indebtedness p»yable on demand and shall teem intoned at the Note rate from the date of the °spoor:Murs until repaid. Exponaeo covered by this paragraph include, without limilatiors, liuwaver.500(001 1e. tiny Ilrnite under applicable law, Lender's reasonable atlarrtuv¢ leas and London's legal expenses whether or not there is a lawsuit, including reasonable attorneys' foes and expenses for bankruptcy proceedings ;including efforts to modify or vacate imp automatic stay or Injunction), appeals, anti any anticipated post.ruJgptartt L'i;7tanlitln services, the coal of searching rscords, obtaining 1(11, teporla (including foreclosure repellsi„ reports, and appraisal lees and Lido insurance, to the extent permitted by applicable Iaw. Grantor also will pay any oourt costa, In addition to all' other some provided by law, NOTICE Any notice required to be given under this Mortgage, including without limitation any notice of default and any notion of sale shall be given in writing, and snail be affective when actuaey delivered, when actually received by telefacsirnile Whitest; otlter:wrae required by fowl, when depnslted.Wlth a natlanaliy'recognized overnight Godlier, or, if mailed, when deposited in the United Status mall, as first crass, certified or registered :matt postage prepaid, diraotad to the sddroasus shown near the beginning of this Mortgage.. All copies of notices of foreclosure Mom Itta holder of any Ilan which has priority over, iftis Mortgage shall be sant to Lender's address, as shown near the beginning of this Mortgage. Any party may change its addreaa for nodcoal ureter .this. Mortgage by giving formal written nattoo.to eta. billet pantos, specifying Mot the purpose of the notie:o is 1e. change the party's address. For notice purposes, Grantor agrees to keep Lender at all limos of Grantor's current address, Unions otherwise provided o1'rogeired by low, if there is more than one Grantor, any notice giVeri,by Lander to 'env Grauer is 'deemed td be notion givon to, et1 Grantors,- MISCELLANEOIJ$•f The following misoaltanoous provisions are pert of this MMertguga_ Amendments, This Mortgago together with any Related Documents, constitutes the,ertrire understanding and agreement of the parties es f0 the nnettars set forts In this :MOrigega. fro alteration of De amendment to this Mortgage chaff do eflectiva unless gluon iii writing end signed by the partyor potties sought to be charged or bound by the alteration or amendment. Annual Reports, 11 the Property is used for purposes other than Grantor's residence., Grantor shall furnish to binder, upon request, r certified statement of net Operating ittaonle I'OGeited. from the Property during Grantor's PoXsious. fiscal year lit such farm and detail as: Lender stroll require; Net operating income" shall'mcan all cash receipts from the Property less all cash;expenditutoo made in connection with the: operation of the Property.. L' nplion.fdeadfngs, Caption headings In 111('5 Mortgage: ere or co nvonionco" purpOSaa Only anti rlr1 not iq q1( ti &1(G tq iItterpfer pr Molina the provisions of this Mortgage_ Governing Law. This Mortgage wilt be governed by federal law applicobla to Lender and, to the extent not preempted by federal low, do taws of the State of Wyoming without Tabard to its conflicts of law provisions,: Thia Mortgage hem bean adaoptad by Lander in the Stara or Wyoming, et to of Venue. it glom is a lawsuit, Granter agrees upon Lender's request to submit to the .jurisdiction of the courts of Lincoln County, Stale of Wvomirrg. Igo Wafuer by Landes; .Lender shall not.ba deemed to have waived arty rights under this Mortgage unfass mesh waiver is given in :ieritIng and signed by Lender: No delay or omissirnl on the pact of Lender in exercising any right ahatt npetate as a waiver Of such right it arty' other right, A waiver by Londor of a .pr0yisiien ot. this Mortgage shall not prejudice or oonatltute a waiver 'of Lender's 0011 athetwise to demand strict compliance with that pravtsion or any other Provision of this Mortgage. No prior waiver by Lender, nor any course of dealing. between Lender and Grantor, shall canatituto` a waiver e.1 any of Landor'a rights dr of any of Grordor'o nbIigationa as W. any future Permeations. Wnenaver the consent of Lender is required under this Mortgage, the granting of such consent by Lender it any instance shaft not constitute continuing consent to subsequent Instances where such consent is required 'and in oil 'Caeca such consent may be granted Pr Withhold in the sole .disarotion'of Lender. Sovarebility, if a court of competent jurisdiction finds any provtsion;of this Mormega to be Siegel, inveed, or unenforceable es to any alrcumetence, that finclIng shall not stake the offending provision Illegal. invalid, or unenroreeable: as to any other circumstance, If feasible, the offending provision shall ha cansidared meditfod so that it becomes eget, Valid and enforceable, If the offending provision cannot be so` modified, It shall be considered deleted from this Nlortgago. Unless otherwise required by law, the illegality, fnV»lidity, 0r'unenfarcaWilly u u i 71 Page 4 Loan No: 61013991 {Continued) Page 6 of any provision of this Morton(' ohs!l not affect chit regality, validity or enforceability Of any other provision of this MOrtgage, Nlerger, Thom shrill WI 00 Pfltirgof of the interest or tia tate created byitti's Mortgage with any other Interest or oscine imam Property at any time hold by or for the banafit of Lender in any capacity, without tho wtitton onnsont of Lawlor, Sucoosards end Pathos. Subject to any limitations atatoo In this Mortgage on transfer of Grantor's interest thls Mortgage shall be binding UPOn and inure to the benefit ot the parties, their successors and assiuns, If ownership of the Property becomes trotted in a person other, than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with temente to this Mortgage and the Indebtedness by Way of torbearanto or extension without reloasing Grantor from the obtigetione of title Mortgage or liability tinder the indebtedness. Time is of the ECIOOCO. Time is Of the OSMIC4 0 tho porformanca of this Mortgage. WP111/01 ot Homestead Exemption. Grantor hereby releases and waives ail rights and benefits of the homestead oxerriptlen lowa •tho, State of Wyoming as to all Indobtednoss socured by this Mortgage. DEFINITIONS. Tho followln9 capitalized words and terms shall have the following meanings. when uted in this Mortgage. Uniass sizecifically stated to the contrery, alt referoncos 10 dollar amounts shaft mean amounts In lel" fut money of the Unitod Statos of America, Worth; and torms used in the singular shallincluda the plural, and the plural shall include Meeingular, at the contoirt may require, Wordnariti carets nof otherWise defined In this Mortgage Shall have the maanings attithuted to such terms in the Uniform Commercial Carlon Borrower, The word "Borrower' means 'STEVEN WAMANN end fortieths' all codtlfmorri reef comonm," signing the Note and. 011 their successors and a:talons. Default, Thrtword "Default" S130411$ trio Default set forth in this Mortgage in the soction tided "Defoult" EilVirOtlffterltai LAWS. Tho word S "Environmentot Laws" moon any ono alt ae, federal end local statutos, regulations and ordinarices relating to the prialoction ot•hurnan health or the environment, including without limitation tha Comprehensive Environmontel iiesoonse. Gerimenristion, and Liability AO of 1980, as amended, 42 U.S.C. Section 9601, at tom thCERCLA"),. rIo Suporfund Armintimonm and ftheuthorization Ack of 1986, Pub, L. No, 99 I"SARA'`f, tha Hazardous Materials Trartsportetion Act. 49 U.S.C. Silet1011 1801, at son,: the Resource Conservation .and Recovary Act, 42 U.S.C, Section 6901, at seq., or othor appficable state Or federal lows, :rulers, or rogulations adopted pursuant thoreto. Event 01 Default, The words 'Event 01 °O&M moan any of the everds al default .act forth M this Mortgage.in the of default SeCtlon of this Mortgage. Grantor. Tha word 'Grantor" means STEVEN W AMANN, attlfrantY. The word 'Guaranty' moans the guaranty from guarantof, endorsor, surety Of' fit(g.illliriOdMi()ii Ratty to Lender, including. without limitation a guaranty of all or part of the Note. flaserdeius Substances. The words "Hazatdotis Sithatancas" mean rnatorials that, beeause of their quantity, concantration or phytiical, chemical or infectious charactoristics, may or posy e present or patellae( hazard to human health or the OtWittnIfilent WitOff improperly used, treated, stored, disposad of, generated, manufactured, transported or otherwise handled, The Words 'Hazardous Substances' era mired In their very brosaleat sense and inehrde without limitation any and all hazertious or fordo substances, rrodurlots 0 waste as defined by or listed Under tho Environmentel Lows, Tho torm "Harardout Substances' also loolucies, celthout IlorilIkIn petrotourri Oi4r)OtMittlIM hyluoducto or any fraction' thoroof antfasbestos, Iniprovorrumbt Thu word s lingiovernotits" matins au existing ond 13106 improyernents buildings, structures, nxibiltthOrnes affisorf an the fleal.Properly, facilities, additions, replacements end other construction on the Real Property, Indebtedness. The word Indebtedness'' means all principal, ir40f001. and other amountt, Coss And expenses payable taider the Note Or Rotated. Documents, together With alt renovyals of, extensions of, roociitications of, ebriselalutions ot anti substitutions for the Nom or Rotated .Documents and any amounts expender' or advanced hy Lender to dischargo Grantor's obligations or expenses incurrod by 1.11(1LICIT 14 111111111:0A1(116(010 Obligations under this Mortgage, together with intermit on such umounts at provided In this Mortgage. Spaeth...rally, without:limitation, Indobtadnos0 in;lwtu itt flelthell' that may be indirectly secured by OW CrOliN.COlititfitillilliliatt J.K.00i51a1 of this, Mortgage, Lender. 'The word "Lender' 3oans 1st Gorik,. 160000056016 and assigns. Mortgage. Ththword 'Mortgage means thiOdortgege bOtwoon Grantor text Liander. NOte. Tho word "Noto° moans the promissory note datod March 9, 2012, in the •Otiginat principal amount of $54,400.00 from Grantor to Lander, together with all renewals et, extensions of, modifications of, refinancings of, cortiolidations of, and substitutions for the promissory note 03 agreement, Tha maturity date p f this Mortgage is March 11, 2011. Personal Property. Tho. words "Personal Property' mead all ormipmont fixtures, and other radiates of porrional property now or hereafter ownod by Grantor, ail now or hereafter attached or attired to the Real Property; together with all siocessions, parts, and edditiona lith replecemonta ol, and elf substitutions for, any of such proponyt and together with all proceeds lincluding without %reunion ad insurance proceeds ard refunds of premiums) horn any Bela or other disposition of the Property. Property. Tho word "Prot Moans collectively the Roof Property and ihe Personal Praporty, ReelPropertyi Thtt:wor&`floel Property' moan Ita property. 13(1tere0t0 and sigh.,tt, tit (tether described in this MOi Wage. fiel8301 1;i0Otlirtfiks„ Tho words "Riernao Documents moan all promissory notes, arryrfn agreements, Men apartments, orwIronmenua agrearnents, (pommies, Socurhy eurriornents. mortgages, driode ot trust, security dime", nonmetal mortgages, and ell CMS/ instruments, itgreernaMs areTdocuments, whothei now or beroaftor egisting, tuoe in connection with rho Tridoinodnoss, Rents, Tha word "Paws' moans 01 prosem and future rants, 3 3 3 V1033IO0 i.1 10 0106 ri 1 Y 11.11104, Profits end other hoeete t re" the Property. GRANTOR ACKNOWLEDGES ttAVtttG READ ALL THE PROVISIONS OF THIS MORTGAGE. AND GRANTOR AGREES TO ITS TERMS, GRANTOR: EN W AMA ZX 1V 0 0 7 7 2 MORTGAGE Loan No: 61013991 MORTGAGE (Continued) INDIVIDUAL ACKNOWLEDGMENT Vtate of teth c Icy of S 1{1. This itogrumoot was aoknowledgeti beforo foo oo U4 1'4 bv'STEVEN W ANIANift f.!oini Public r)f 'Utah P4yoommission oxpifes:„ 411 20/5 Page 6 LASER PRO Leniii4:74M6:F01)1 Co tiorlfind7Zonerar s71117,Zs',177i76-1,131.7"7"Ri wrcival:14:its-67e- ifi-16995 W7 7 3 "EXHIBIT A PART OF LOT TWO (2) OF BLOCK FOUR (4) OF THE AFTON TOWNSITE, LINCOLN COUNTY, WYOMING, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE POINT 110 FEET SOUTHERLY FROM THE NORTHWEST CORNER OF SAID LOT TWO (2) AND RUNNING THENCE SOUTHERLY, ALONG THE WEST LINE OF SAID LOT TWO (2), 121 FEET; THENCE EASTERLY, PARALLEL TO THE NORTH LINE OF SAID LOT TWO (2), 200 FEET; THENCE NORTHERLY, PARALLEL TO THE WEST LINE OF SAID LOT TWO (2) 121 FEET; THENCE WESTERLY, PARALLEL TO THE NORTI -I LINE OF SAID LOT TWO (2) 200 FEET TO THE POINT OF BEGINNING. 00774