HomeMy WebLinkAbout874888 'RECORDATION REQUESTED BY:
PNC Bank, National Association
Consumer Loan Center
2730 Liberty Avenue
Pittsburgh, PA 15222
PNC Bank, National Association
c/o Consumer Loan Ctr (pb-PCLC.01q)
2730 Liberty Avenue
SEND TAX NOTICES TO:
GLENN A BURY BOOK
PATSY L BURY
8O6 CEDAR AVE
~EMMER~y 83101
MORTGAGE
MAXIMUM LIEN. The lien of this Mortgage shall not exceed at any one time $25,107.00,
THIS MORTGAGE dated July 7, 2001, is made and executed between GLENN A BURY, whose address is 806
CEDAR AVE, KEMMERER, WY 83101 and PATSY L BURY, whose address is 806 CEDAR AVE, KEMMERER, WY
83101; Married (referred to below as "Grantor") and PNC Bank, National Association, whose address is 2730
Liberty Avenue, Pittsburgh, PA 1522_2 (referred to below as ender ).
GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to Lender all of Grantor's right, title, and interest in and to
the following described real ~roperty, together with ali existing or subsequently erected or affixed buildings, improvements and fixtures; a~l
easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or
irrigation rights); and all other rights~, royalties, and profits relating to the real property .~c!ud/n w~
geothermal and similar matters, (the Real Pro err" , ' , ' ' g 'thou, limitation all minerals, oil, gas,
See Attached Exhibit 1, which is 'attached to this Mortgage and made a part of this Mortgage as if fully set
forth herein. P y ) located m LINCOLN County, State of Wyoming.
The Real Property or its address is commonly known as 806 CEDAR AVE, KEMMERER, WY 83101. The Real
Property tax identification number is 12-2116-13-3-16-072,00.
Grantor presently assigns to Lender all of Grantor's right, title, and interest Ir1 and to all present and future leases of the Property and all Rents
from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code
THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY secu.rity interest in the Personal Property and Rents.
INTEREST IN THE RENTS AND PERSONAL PROPERTY,
GIVEN TO SECURE {A) PAYMENT OF THE iNDEBTEDNESs AND (Bi PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,
THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS;
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to Lender ali amounts secured by this
Mortgage as they become due and shall strictly perform alt of Grantor's obligations under this Mortgage.
POSgESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shali be governed by
tile following provisions.,
Possession and Use, Until the occurrence of an Event of Default, Grantor may (1) remain in possessidh and control of the Property; (2) :
use, operate or manage the Property; and (3) collect the Rents from the Property.
Duty to Maintain, Grantor shall maintain the Property in good condition and promptly perform all repairs, replacements, and maintenance
necessary to preserve its value.
Compliance With Environmental Laws, Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of
the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
Substance by any person on, under, about or from the Property; (2) Grantor has no know edge of or reason to believe that there has
ben, except as previously disclosed to and acknowledged by Lender ~ writing, la) any breach or violation of any Environmental Laws,
any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under,
about or from the Property by any prior owners or occupants of the Property, or lc) any actual or threatened litigation or claims of any
kind by any person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, la) neither
Grantor nor any tenant, contractor, agent or other autho'rized user of the Property shall use, generate, manufacture, store, treat, dispose of
or release any Hazardous Substance on, under, about or from the Property; and (bi any such :activity shall be conducted in cornpliance
with all applicable federa, state, and local laws, regulations and ordinances, including without
author zes Lender and its agents to enter upon the Property to make such inspections and tests, limitation all Environmental Laws. 'Grantor
at Grantor's expense, as Lender may deem
appropriate to determine compliance of the Property with this section of the Mortgage. Any inspections or tests made by Lender shall be
for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Grantor or to any other
person. The representations and warranties contained herein are based on Grafitor's due diligence in investigating the Property for
Hazardous Substances, Grantor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the
event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to Indemnify and hold harmless Lender
against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer
resulting from a breach of this section of tho Mortgage or as a consequence of any use, generation, manufacture, storage, disposal, release
or threatened release occurring prior to Grantor's ownership or interest in the Property, whether or not the same was or should have been
known to Grantor. The provisions of this section of the Mortgage, including the obligation to indemnify, shall survive the payment of the
Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and shall not be affected by Lender's acquisition of any
interest in tt~e Property, whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or sufl'er any stripping of or waste on or to
the Property or any portion of the Property. W~hout limiting the generality of the foregoing, Grantor will not remove, or grant to any other
party the right to remove, any timber, minerals linc ud ng oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
written consent.
Removal of Improvements, Grantor shall oct demoiish or remove any Improvements from tile Real Property without Lender's prior written
consent, As a condition to the removat of any improvements, Lender may require Grantor to make arrangements satisfactory to Lender to
replace such Improvements with Improvements of at least equal value.
Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend
to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Mortgage.
Compliance wit& Governmental Requirements, Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
in effect, of all governmental authorities applicable to the use or occupancy of the Property. Grantor may contest in good faith any such
law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified
Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests itl the Property are not jeopardized, Lender
may require Grantor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
Duty to Protact, Grantor agrees neither to abandon not,cave unattended the Property. Grantor shall do all other acts, in addition to those
~~ (Continued) !~ ,-
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acts set forth above in this section, which from the character and use of the Property are reasonab{y necessary to protect and preserve the
Property.
TAXES AND LIENS, The foI~owing provisions relating to the taxes and liens on the Property are part of this Mortgage:
Payment, Grantor shall pay wheh due (and in'ail events prior to delinquency) all taxes, payroll taxes, speciaj taxes, assessments, water
charges and sewer service charges levied against or on account of the Property, and shall pay When due a~l claims for work done on or for
services rendered or material furnished to the Property. Grantor shai~ maintain the Property free of anyJJens having priority over or equal to
the interest of Lender under ~hls Mortgage, except for those I~ens specifica~ly agreed to in writing by Lender, and except for the lien of taxes
and assessments not due as further specified in the R~ght to Contest ~aragraph.
Right to Contest. Grantor may withhold payment of any tax, assessment, ~r claim in connection with a good faith dispute over the
obligation to pay, so long as Lender's interest in the Property ~s not jeopardized. If a ]Jen arises or ~s filed as a result of nonpayment,
Grantor sha~{ within fifteen (15) days after the I~en arises or, if a lien is fi~ed, within fifteen (15) days after Grantor has notice of the fi~ing,
secure the discharge 0f the I~en, or ~f requested by Lender, deposit with Lender cash or a sofficient corporate surety bon~ or other security
satisfactory to Lender ~n an amount sufficient to discharge the ~ien plus any costs and reasonable attorneys' fees, or other charges that
could accrueas a res~ltefa forectos~re or sale under the lien. In any contest, Grantor shall defend~tself and Lender and shall satisfy any
adverse judgment before enforcement against the Property. Grantor sha~l name Lender as an additi0na] ob~igee under any surety bond
furnished in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnishto Lender sattsfactory ev~dence of Payment of the taxes or assessments an~sha~
authorize the appropriate governmental officia~ to deliver to Lender at any time a written statement of the taxes and assessments against
the Property.
Notice of Construction, Grantor sha{I notify Lender at ~east fi~fteen (15) days before any work is commenced, any services are furnished, or
any materials are supplied to the Property, if any mechanic's ~ien, materiaimen's ~ien, or other ~Jen could be asserted on account of the
work, services, or materials. Grantorwii~ upon request of Lender furnishto Lender advance assurances satisfactory to Lender that Grantor
can and will pay the cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of th~s Mortgage:
~alntenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements en
a replacement bas~s for the full insurable value covering al~ Improvements on the Real Proporty in an amount sufficient to avoid application
of any coinsurance clause, and with a standard mortgagee c~ause in,favor of Lender~ Policies shall be written by such insurance companies
and in such form as may be reasonably acceptable to Lender, Grantor sha~ deliver to Lender certificates of coverage from each insurer
containing a stipulation that coverage will not be cancelled or diminished w~thout a minimum of thirty (30) days' prior written notice to
Lender and not containing any disclaimer of the insurer's liability for failure to give such notice, Each insurance policy also shal~ include an
endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any
other person. Shou~dthe ReaI Property be [ocated in an area designated by the D[rector of the Federa~ Emergency Management Agency as
a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood ~nsurance, jf available, within 45 days after notice Is given
by Lender that the Property is ~ocated in a specia~ flood hazard area, for the fuJ~ unpaid princ~pa~ balance of the ~oan and any prior liens
the property securing the loan, up to the maximum policy ~imits se~ under [he National Flood insurance Program, or as otherwise required by
Lender, and to maintain such insurance for the term of the loan,
Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of ~oss
Grantor fails to do so within fifteen (15) days of the casualty, Whether or not Lender's secudty is impaired, Lender may, at Lender's
election, receive and retain ,the proceeds of any insurance and apply the Rroceeds to the reduction of the indebtedness, payment of any ~ien
affecting the Property, ortho restoration and repaJr of the ProperW. If Lender e~ects to apply the proceeds to restoration and repair, Grantor
shal~repa~rorrep~acethedamaged or destroyed ~mprovements in a manner satlsfactoryto ~ender. Lender sha~{, upon satisfactory proof of
such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default
under this Mortgage. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not
committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Mortgage, then to
payac~rued interest, and the remainder, if any, shall be a~plied to the principal balance of the Indebtedness. If ~ender holds any proceeds
after payment in full of the Indebtedness, such proceeds sha~l be paid to Grantor as Grantor's interests may appear,
Unexpired Insurance at Sale, Any Unexpired insurance sha~l ~nure to the benefit of, and pass to, the purchaser of the Property covered by
this Mortgage at any trustee's sa~e or ether sale held under the ~rovisions of th~s Mortgage, or at any foreclosure sale of such Property,
LENDER'S EXPENDITURES. ~f Grantor fails (A) to keep the Property free of a~ taxes, ~iens, security interests,~ encumbrances, and other claims,
(B) to provide any required insurance on the Property, or (C) to make repairs to the Property then Lender may do so. ~f any action or
proceeding is commenced that woutd materiar~y affect Lender's interests in the Property, then Lender on ~rantor's behalf may, but is not
required to, take any action that Lender believes to be a~propriate to protect Lender's interests. ANY INSURANCE LENDER PURCHASES MAY
BE SIGNIFICANTLY ~ORE EXPENSIVE AND MAY PROVIDE LESS COVERAGE THAN INSURANCE GRANTOR COULD P~RCHASE OTHERWISE,
In certain states, the required insurance may be obtained through a licensed insurance agency affiliated with Lender. This agency will receive a
fee for providing the required ~nsurance. In addition, an affiliate may be responsible for some or ail of the underlying insurance risks and may
receive compensation for assuming such risks,. All expenses incurred or paid by Lender for such purposes w[J[ then bear interest at the rate
charged under the Note from the datelncarred or paid byLender to the date of repayment by Grantor, All such expenses will become a part of
the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among
and be payable with any installment payments to ~ecome due during either (1) the term of any applicable insurance policy; or (2) the
remain~ng term of the Note; or (C) be treated as a balloon payment which wiJ[ be due and payable at the Note's maturity. The Property also
will secure payment of these amounts. The rights provided for in this paragraph shall be in addition to any other rights or any remedies to which
Lender may be entitled on account of any default. Any such action by Lender sha~l not be construed as curing the default so as to bar Lender
from any remedy tha~ it otherwise would have had,
WARRANTY; DEFENSE OF TITLE, The following provisions re~afing to ownership of the Property are a part of this Mortgage:
Title, Grantor warrants that; (a) Grantor holds good and marketable title of record to the Property In fee simple, free and c~ear o[ all
and encumbrances other than those set forth in the Rea~ Property description or in any title insurance po]icy, title report, or final title opinion
issued in favor of, and accepte~ by, Lender in connection with this Mortgage, and (b) Grantor has the full right, power, and authority to
execute and deliver this Mortgage to Lender,
Defense of Title, Subject to the~sxcept[on in the paragraph above Grantor warra ~
the lawful claims of a~l persons In t~e .............. ',. n s and w[~l forever defend the title to the Property against
.... ~.. ,,.y u~uon or proceemng is Commenced that questions Grantor's title or the interest of Lender
under this Mortgage, Grantor sha~ defend the action at Grantor's expense. Grantor may be the nomina~ party in such proceeding, but
Lender sha~l be entitled to participate in the proceeding and to be represented ~n the proceeding by counsel of Lender's own choice, and
Grantor wil~ deliver, or cause to be delivered, to Lender such instruments as Le~der may request from t~me to time to permit such
participation.
Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property compties with all existing app~[cable laws,
ordinances, and regulations of governmental authorities.
Survival of Promises, A~J promises, agreements, and statements Grantor has made in this Mortgage sha~ survive the execution and delivery
of this Mortgage, shall be continuing ~n nature and sha~J remain ~n fu~ force and effect unfi~ s~ch time as G~antor's indebtedness is paid Jn
full,
CONDEMNATION. The fo~owing provisions r~lating to condemnation prgceedings are a part of this Mortgage~
Proceedings. if any proceeding in condemnation is filed, Grantor sha~ promptly notify Lender ~n writing, and Grantor shall promptly take
such steps as may be necessary to defend the action and obtain the award, Grantor may be the nominal party in such proceeding, but
Lender shall be entitled to participate in the Froceeding and to be represented in the proceeding by counse~ of i~s own choice, and Grantor
will deliver or cease to be delivered to Lander such instruments and documentation as may be requested by Lender from time to time
permit such participation,
Application of Net Proceeds, tf ali or any pa~ of the Property is cor~damned by eminent domain proceedings or by any proceeding or
purchase in lieu of condemnation, Lender may at ~ts ejection require that a~ or any portion of the net proceeds of the award be applied to
the {ndebtedness or the repair or restoration of the Property. The net proceeds of the award sha~l mean the award after payment of
reasonab}e costs, expenses, and attorneys' fees incurred by Lender in connection w~th the condemnation.
O~?~~ MORTGAGE
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' ~~-~-_~ . , Page 3
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES, The following provisions relating to governmental taxes,
fees and charges are a part of this Mortgage:
Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and take
whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for
all taxes, as described below, together with ail expenses incurred in recording, perfecting or continuing this Mortgage, including without
limitation ail taxes, fees, documentary stamps, and other charges for recording or registering this Mortgage.
Taxes, The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Mortgage or upon ell or any
part of the Indebtedness secured bythi~ Mortgage; (2) a specific tax on Grantor which Grantor is authorized or required to deduct from
Pew~ents on the Indebtedness secured by this type of Mortgage; (3) a tax on this type of Mortgage chargeable against the Lender or the
holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal end interest made by
Grantor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the
same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below
unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens
section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender,
SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Mortgage as a security agreement are a part of
this Mortgage: ' '
Security Agreement, This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures; and
Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender, Grantor shall execute financing statements and take whatever other action is requested by
Lender to perfect and continue Lender's security interest in the Personal Properw, In addition to recording this Mortgage in the reaJ
property records, Lender may, at any time and without further authorization from Grantor, file executed counterparts, copies or
reproductions of this Mortgage as a financing statement, Grantor shall reimburse Lender for all expenses incurred in perfecting or
continuing this security interest. Upon default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon
default, Grantor shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to
Grantor and Lender and make it available to Lender within three (3) days after receipt of written demand from Lender to the extent
permitted by applicable law.
Addresses, The mailing addresses of Grantor (debtor) and Le~qder (secured party) from which information concerning the security interest
granted by this Mortgage may be obtained (each as required by tile Uniform Commercial Code) are as stated on tile first page of this
Mortgage,
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
Mortgage:
Further Assurances. At any time, and from time to time, upon request of Lender, Grantor will make, execute and deliver, or will cause to
be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, rallied, or
rerecorded, as the case may be, at such times 'and in such offices and pieces as Lender may deem appropriate, any and all such mortgages,
deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
certificates, and other documents as may, in the sole opinion of Lender, be necessary er desirable in order to effectuate, complete, perfect,
continue, or preserve (1) Grantor's obligations under the Note, this Mortgage, and the Related Documents, and (2) the liens and
security interests created by this Mortgage as first and prior liens on the Property, whether now owned or hereafter acquired by Grantor.
Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses Incurred in
connection with tile matters referred to in this paragraph. ·
Attorney-in. Fact, If Grantor fails to do any of tile things referred to in the preceding paragraph, Lender may do so for and in the name of
Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grunter's attorney-in-fact for the
purpose of making, executing, de!iver!ng, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole
opinion, to accomp ish the matters referred to in the preceding paragraph,
FULL PERFORMANCE.i If Grantor pays all the Indebtedness when due, and otherwise performs ail the obligations imposed upon Grantor under
this Mortgage, Lender shall execute and deliver to Grantor a suitable satisfaction of this Mortgage and suitable statements of termination of any
financing statement on file evidencing Lender's security interest in the Ren~s and the Personal Property. Grantor will pay, if permitted by
applicable law, any reasonable termination fee as determined by Lender from time to time,
EVENTS OF DEFAULT, At Lender's option, Grantor will be in default under this Mortgage if any of tile followir~g happen: Payment Default. Grantor fails to make any payment when due under the Indebtedness.
Default on Other Payments, Failure of Grantor within the time required by this Mortgage to make any payment for taxes or insurance, or
any other payment necessary to prevent filing of or to effect discharge of any lien.
Break Other Promises. Grantor breaks any premise made to Lender or fails to perform promptly at the time and strictly in the manner
provided in this Mortgage or in any agreement related to this Mortgage.
False Statements, Any representation or statement made or furnished to 'Le'nder by Grantor or on Grantor's behalf under this Mortgage, the
Note, o[ the Related Documents is false or misleading in any material respect, either now or at the time made or furnished,
Defective Collateralization. This Mortgage or any of the Related Documents ceases to be in full force and effect (including failure of any
collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
Death or Insolvency, The death of Grantor, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any
assignment for the benefit of creditors, any type of creditor workout, or tile commencement of any proceeding under any bankruptcy or
insolvency laws by or against Grantor.
Taking of the Property. Any creditor or governmental agency tries to take any of the Property er any other of Grantor's property in which
Lender has a lien. This includes taking of, garnishing of or levying on Grantor's accounts with Lender. However, if Grantor disputes in
good faith whether the claim on which the taking of the Property Is based is valid or reasonable, and If Grantor gives Lender written notice
of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this default provision will
not apply.
Breach of Other Agreement. Any breach by Grantor under tile terms of any other agreement between Grantor and Lender that is not '
remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
obligation of Grantor to Lender~ whether existing now or ~ater.
Events Affecting Guarantor. Any of the preceding events occt;rs with respect to any guarantor, endorser, surety, or accommodation party
of any of the indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or
disputes the validity of, or liability under, any Guaranty of the indebtedness.
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default and at any time thereafter, Lender, at Lender's option, may
exercise any one,or more of the following rights and remedies, in addition to any other rights or remedies provided by law:
Accelerate Indebtedness. Lender shall have the right at it option without notice to Grantor to declare the entire Indebtedness immediately
due and p~yable, including any prepayment penalty which Grantor would be required to pay.
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party
unde~ the Uniform Commercial Code,
Collect Rents. Lender shall have tile right, without notice to Grantor, to take possession of the Property, including during the pendency ef
foreclosure, whether judicial or non-judicial, and coltect the Rents, including amounts past due and unpaid, and apply the net proceeds, over
and above Lender's costs, against the indebtedness, in furtherance of this right, Lender may require any tenant or other user of the
Property to make payments of rent or use fees directly to Lender. if the Rents are collected by Lender, then Grantor irrevocably designates
Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same
and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for
which the payments are made, whether or not any proper grounds for the demadd existed. Lender may exercise its rights under this
(Continued)
P~oe 4
subparagraph either in person, by agent, or through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the
power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the
Property and apply the proceeds, over and above the cost 'of the receivership, against the Indebtedness, The .receiver may serve without
bond If permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property
exceeds the Indebtedness by a substantial amount. Employment by Lender shall not d'isqua[~fy a person from serving as a receiver,
Judicial Foreclosure, Lender may obtain a judicial decree foreclosing Grantor's interest in ail or any part of the Property,
Nonjudicial Sale, Lender may foreclose Grantor's interest in all or in any part of the ProPerty by non-judicial sale, and specifically by "power
of sale" or dvert sement and sale" foreclosure as provided by statute.
Deficiency Judgment, If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebtedness due
to Lender after application of all amounts received from the exercise of the rights provided in this section,
Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise
becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a te~ant at sufferance of Lender or the
purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the
Property immediately upon the demand of Lender'.
Other Remedies, Lender shall have all other rights and remedies provided in this Mortgage or the Note or available at law or ~n equity, ,
Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all right to have the property marshalled.
In exercising its rights arid remedies, Lender shall be free to sell all or any part of the Property together or separately, in one sale or by
separate sales. Lender shall be entitled to bid at any public sale on allot any portion of the Property.
Notice of Sale, Lender will give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time
after which any private sale or other intended disposition of the Personal Property is to be made, Reasonable notice shall mean notice
given at least ten (10) days before the time of the sale or disposition.
Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or together, An election by
Lender to chouse any one remedy will not bar Lender from using any other remedy. If Lender decides to spend moneyor to perform anyof
Grantor's obligations under this Mortgage, after Grantor's failure to do so, that decision by Lender will not affect Lender's right to declare
Grantor In default and to exercise Lender's remedies,
A~orneys' Fees; Expenses, If Lender 'institutes any suit or action to enforce any of the terms of this Mortgage, Lender shall be entitled to
recover such sum asthe court may adjudge reasonabteas attorneys' fees attrJaland upon any appeal. Whether or not any court action is
involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time
for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
interest at the Note rate from the date of the expenditure until repaid, Expenses covered by this paragraph include without limitation,
however subject to any limits under applicable law, Lender's reasonable attorneys' fees and Lender's legal expenses whether er not there is
a lawsuit, including reasonable attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any
automatic stay or injunction), appeals, and any antfc~pated post-judgment collection services, the cost of searching records, obtaining title
reports (including foreclosure reports), surveyors' reports, and appraisal fees and title insurance, to the extent permitted by applicable law.
Grantor also will pay any court costs, in addition to all other sums provided by law.
NOTICES. Any notice required to be given under this Mortgage, including without limitation any notice of default and any notice of sale shall be
given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by Jaw), when
deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or
registered mail postage prepaid, directed to the addresses shown near the begJnning of this Mortgage, All cop~es of notices of foreclosure from
the holder of any lien which has priority over this Mortgage shall be sent to Lender's address, as shown near the beginning of this Mortgage,
Any person may change his or her address for notices under this Mortgage by giving formal written notice to the other person or persons,
specifying that the purpose of the notice is to change the person's address. For notice purposes, Grantor agrees to keep Lender informed at all
times of Grantor,s current address, Unless otherwise provided or required by law, if there is more than one Grantor, any notice given byLender
to any Grantor is deemed to be notice given to all Grantors. It will be Grantor's responsibility to tell the others of the not/ce from Lender,
COMPLIANCE WITH ALL LAWS. Grantor shall comply wlth all laws respecting ownership or use of the Property. If the Property [sa
condominium or Planned ~nit development, Grantor shall comply with all byJaws, regulations and restrictions of record,
~ISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Mortgage:
Amendments. What is written in this Mortgage and 'in the Related Documents is Grantor's entire agree~ent with Lender concerning the
matters covered by this Mortgage, To be effective, any change or amendment to this Mortgage must be in writing and must be signed by
whoever will be bound or obligated by the change or amendment,
Caption Headings. Caption headings in this Mortgage are for convenience purposes o~iy and are not to be used to ~nterpret or define the
provisions of this Mortgage.
Governing Law. In addition to applicable federal law, this Mortgage will be governed by and interpreted in accordance with federal law and
the laws of the State of Wyoming, except for matters related to the exportation of interest (as defined by federal law) which will be
governed by and interpreted in accordance with the laws of the Commonwealth of Pennsylvania. However, if there ever is a question
about whether any provision of this ~ortoage Is valid or enforceable, the provision that is questioned wJ~[ be governed by whichever state
or federal law would find the provision to be valid and enforceable, The loan transaction which is evidenced by the Note and this Mortgage
has been approved and made, and all necessary loan documents have been accepted by Lender in the Commonwealth of Pennsylvania.
Joint and Several Liability. AI~ obligations of Grantor under this Mortgage shall be joint and several, and all references to Grantor shall mean
each and every Grantor. This means that each Grantor signing borow is responsible for all obligations in this Mortgage.
No Waiver by Lender. Grantor understands Lender will not give up any of Lender's rights under this Mortgage unless Lender does so In
writing. The fact that Lender delays or omitsto exercise any right will not mean that Lender has given upthat right. If Lender does agree
in writing to give up one of Lender's rights, that does not mean Grantor will not have to comply with the other provisions of this Mortgage.
Grantor also understands that if Lender does consent to a request, that does not mean that Grantor will not have to get Lender's consent
again if the situation happens again. G~antor further understands that just because Lender consents to one or more of Grantor's requests,
that does not mean Lender will be required to consent to any of Grantor's future requests, Grantor waives presentment, demand for
payment, protest, and notice of dishonor. Grantor waives all rights of exemption from execution or similar few {n the Property (including
without limitation, the homestead exemption), and Grantor agrees that the rights of Lender in the Property under this MOrtgage are prior to
Grantor's rights while this Mortgage remains [n effect,
Severabllity. ~f a court finds that any provision of th~s Mortgage is not valid or should r~o~ be enforced, that fact by itself will not mean that
the rest of this Mortgage will oct be valid or enforced, Therefore, a court will enforce lbs rest of the provisions of this Mortgage even if a
provision of this Mortgage may be found to be invalid or unenforceable,
Merger. Thoreshallbe no merger of the interest or estate created bythis Mortgage with any other interest or estate in the Property at any
time held by or for the benefit of Lender in any capacity, without the written consent of Lender,
Succaosors and Assigns. Subject to any ~imitations stated in this Mortgage on transfer of Grantor's interest, this Mortgage shall be binding
upon and Inure to the benefit of the parties, their successors and assigns, if ownership of the Propertybecemes vestedin a person other
than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Mortgage and the Indebtedness
by way of forbearance or extension without releasing Grantor from the obligations of this Mortgage or iiability under the Indebtedness.
Time is of the Essence. Time is of the essence in the performance of th~s Mortgage,
Waiver of Homestead Exemption, Grantor hereby releases and wafves all rights and benefits of the homestead exemption~aws oftheState
of Wyoming as to all Indebtedness secured by this Mortgage.
DEFINITIONS. The following words shall have the following meanings when used in this Mortgage:
Borrower, The word "Borrower" means GLENN A BURY and PATSY L BURY, and ali other persons and entities signing the Note.
Environmental Laws, The words "Enviro~menta~ Laws" mean any and a~l state, federal and ~ocal statutes, regulations and ordinances
: (J~?~~ MORTGAGE
~~__ __ .... (Continued) ~ ~ i[
~----~----~ -------~- .... ~_ . Page 5
relating to the protection of human hea~th or the envffonment, including without HmitatJon the Comprehensive Environmentat Response,
Compensation, and Liability Act of 1980, as amended, 42 U.S,C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and
Reauthorizadon Act of 1986, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq,,
the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq,, or other appficab~e state er federa[ laws, rules, or
regulations adopted pursuant thereto.
Event of Default. The words "Event of Default" mean any of the events of default set forth in this Mortgage in the events of default
section of this Mortgage.
Grantor, The word "Grantor" ~eans GLENN A BURY and PATSY L BURY,
Guaranty, The word "Guaranty" means the guaranty from guaranto~, endorser, surety, or accommodation party to Lender, including
without ~im~tadon a guaranty of aH or part of the Note.
Hazardous Substances, The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical,
chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when
improperly used, treated, stored, disposed of, generated, manufactured transported or otherwse handled.
Substances" are used in their very broadest sense and ncude without Hmitat on any and at~ hazardous or tome The words "Hazardous
waste as defined bY or JJsted under the Environmental Laws. The term "Hazardous Substances" also includes, without ~imJtation, petroleum
substances, materials or
and petroleum by-products or any fraction thereof and asbestos.
Improvements. The word mprovements' means ail existing and future improvements, buildings, structures, mobile homes affixed on the
Real Property, facilities, additions, replacements and other construction on the Real Property,
Indebtedness~ The word ndebtedness means aH principal interest, and other amounts, costs and expenses payab[e under the Note or
Related Documents, together with a[l renewals el, extensions of, modifications of, consolidations o¢ and substitutions for the Note or
Related Documents and any amounts expended or advanced by Lender to discharge Orantor's obtJgadons or expenses incurred by Lender to
enforce Grantor's obligations under this Mortgage, together with interest on such amounts as provided in this Mortgage.
Lender. The word "Lender" means PNC Bank, National Association, its successors and assigns. The words "successors or assigns" mean
any person or company that acquires any interest Jn the Note,
Mortgage, The word "Mortgage" means this Mortgage between Grantor and Lender,
Note, The word "Note" means the promissory note dated July 7, 2001, in the original principal amount of ~25,107,00 from
Grantor to Lender, together with alt renewals of, extensions of, modifications of, refinancJngs of, consotidations of, and substitutions for
the promissory note or agreement, The maturity date of this Mortgage Js July 15, 2016.
Personal Property, The words "Personal Property" mean ali equipment, fixtures, and other articles of personal property now or hereafter
owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with ail accessions, parts, and additions to, a~l
replacements of, and ail substitutions for, any of such property; and together with alt proceeds (including without limitation ail insurance
proceeds and refunds of premiums) from any sale or other disposition of the Property.
Property, The word "Property" means collectively the Real Property and the Personal Property.
Real PrOperty. The words "Real Property" mean the real property, interests and rights, as further described in this Mortgage,
Related Documents, The words "Related Documents" mean a~l promissory notes, credit agreements, loan agreements, environmental
agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, co~lateral mortgages, and ali other instruments,
agreements and documents~ whether now or hereafter existing, executed in connection with the Indebtedness,
Rents, The word "Rents" ~eans all present and future rents, revenues, h~come, issues, royalties, profits, and other benefits derived from
the Property,
EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES TO ITS
TERMS, THIS MORTGAGE IS GIVEN UNDER SEAL 'AND IT IS INTENDED THAT THIS MORTGAGE IS AND SHALL CONSTITUTE AND HAVE
THE EFFECT OF A SEALED INSTRUNIENT ACCORDING TO LAW,
GRANTOR:
Slgn~)~~ presence of: ~(Sea,,
INDIVIDUAL ACKNOWLEDGMENT -----------
STATE OF ~. ·
COUNTY OF . ) SS
)
On this day before me,~the undersigned Notary Public ersona
[hn~ '~ed~V~Id~d ,n and who executed the Mo'rt~a~e a~l~ appeare~pL~N~URY and PATSY L BURY Married 'o ---
=~,~, ,n~ and purposes therein mentioned. ":~ ~cKnowled~e, t,at they si~n%~he Mortgage ;s their fr;; a,"~u k,own to be
voluntary act
N°'" "u~°r the State °, ~
; ,~ N0~ Public- State 0f Wy0mir~[j ~
EXHIBIT
~EGAB DESCR~PT~O~
ALL THE FOLLOWING DESCRIBED PREMISES, TO-WIT:
LOT 2 OF BLOCK 8 OF THE ORIGINAL TOWN OF KEMMERER,
LINCOLN CO~Ty, WYOMING EXCEPTING THEREFROM THE FOLLOWING
DESCRIBED PARCEL:
· FEET;
THENCE N 26 DEG. 34' W, 50.00 FEET;
THENCE N 63 DEG. 26' W, 35.00 FEET TO THE POINT OF BEGI~ING.
· SIGNATURES REQUIRED: GLE~ A BURY . **************
, ADDRESS: 80 ~ CED~ AVE
· LEGAL DESC: KEMMERER, WY 83101
· DEED VOLUME: 332PR-569 COUNTY:
· DESCRIBED AS:
LINCOLN
"-"7 ~ ........ .......... 12 -2116-13-3~16_072 00 RECORDED: 07/23/1993