HomeMy WebLinkAbout968485RECORDATION REDUESTED•BY:
First Itife Sanki
,Jackson ifijiiii..BrInCh
843:West:Broadway
P. O. Box 11095*
Jackson.' wy' 83002-1095
WHEN RECORDED MiDI. TO
First lifers Bank
Jackson Main.EitanCh
842 West:Broadisay
R. 0. Box 11095
.Jeakicin: WY 83002.1095
SEND nievdEs TO:
JackjOn Main:Branch
842'Weit,broaciway
Box 1:1695:
JeCkion WY :83002-1095
005V
RECEIVED 12/12/2012 at 3:09 PM
RECEIVING 968485
BOOK: 800 PAGE: 536
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SPACCABOVE ONE1S FOR RECORDER'S USE ONLY
MORTGAGE
'TNISlMORIPAGE,dated December 1;i:201274:made and eitcutertbetweenAtiram 'A Davies and Carolyn M Davies,
husband and Wife, .whose East 1.:01(6. Road; McDonougli, GA 30252 (referred to below as
'Grantor"} and First Interstate i Bank; .whdae :addieei 842 West Bi:babilia)1, P. 0. Box 11095, Jackson, WY
6606240ereferred fo!below as "Lender)
GRANT OF MORTGAGE.. for‘lialbable consideration, Grantor,:mortgageFand:conveystioienderfall of..Grantor!s right, title, and interest in and to
the following described real pfcipecty,-..tOgether With all 'existing or SLibseouentryierected jor arfixed :buildings, improvements and 'fixtures; all
easement's, righta. of way and appurtenances at Wit.e rights water and *ciitchifights Ancludingstock in utilities with ditch or
rightsj";. and all other,riglita, !royPtieS; :relating toxthe Aithotit limitation all minerals, oil, gaa,
geothermal and similar (the' "Steal .16616 in L ail
i.:POCKIP/: ,Otate. W.forrii19:
See Eithibit. "A', which is attached Mortgage and made :a part of this Mortgage as if fully set forth
herein.
The Real Property br, its address la :painmenly khOwn. aC Lot 5 *Coy 'Creek Rd',. Alpine, WY 83128. The Real
Property tax identilleatian riVinbeila 1.2
Grantor presently assigns to Lender all le; and intereat;le andr.to all present and future leases of the Property and ail,Rents
from the Property. Iniackliiion,7Graaor writs iff;t:ender grV6i1O7nitifirirrileFerilitObe ih'tlie Personal Property and Rents.
FUTURE.ADVANCES In addltiOh NOtli tjris Ms1 OiCureaair edVaheeS ina8e• by Lender to Grantor whether or not the
advances are made pursuant to p;,cornrriitm94. nA6ij ie addition to the amounts specified in
the Note, ail,future amounts Lenderg4i
n:itsscreilon mayiloam,to Graritorthgetlier;ith;elyintere4thefeop,
THIS MORTGAGE, iNccuplisigl RENTSAND THE"SECURIT.Y4ATEREST'AN THE RENTS AND PERSONAL PROPERTY, IS
GIVEN .to THE qujitilfEi:00$ OBLIGATIONS UNDER THE NOTE
THE RELATE13;DOCU,MENTS,:ANOLTHIS MOATG7kGE. THIS MORTGAGE IS cwtNAM:, ACCEPTED ON'TkE"FoCLOWING TERMS:
PAYWENTCANb. PERFORMANCE. Except aVoiherwiSe?provided irlihieLitAarigage„Gra6tor.,sh0 Lendel: all amount a secured by this
Mcktgage.aetney.ibecoine:due andahaWithctly,.0rforrivall.Of Grantor's obligatiOns:undevirds(Mortgage..
POSSESSION Alib.:MAinit&s:aict:oF .6tanior agrees.thitlpiantor;s:potsessieri•arid,u,se of the Property shall be governed by
the folldwinglprovisions:
Posses and Use. Untfhthe occurrenceiof an"EVeni-of befault, Grantoqhey Feerlain OnSeSesion and control of the Property; (2)
use,.operate Ortnanagethe,i and 13) coiiectthe
butrto Maintain. Grantor shall mainiiiii•the Property ingood-conditienkaOd..piOrnOtli,Peffenh repairs, replacements, and maintenance
necessary to preserve its ,Value.
Compliance With Environmental Lawsi •Grantor representsenchWariahl'a tO (t) Niing the period of G Ownership•of
the PrOperty;:there'has been no useaeneration, manufacture, Storage; ireatmenUdisPoSal, release or>thieitened.rel of any Hazardous
Substanci any person Oh, Undeli"abOtit.Or'fiemtthe Oroperns (2). diantor, basilic:1 knowledge or reason to believe that there has
fie* except pr pirs,ClosQAO ei::8,01incigitedged by Lan in",Writing,.(a) any breach or vlelatien..of any EnvironmentiALaws,
)b) any u se gener0ion,.inareffaCtike;latorea tre release 9j'.thre01efied release of any Hazardous SubStance on under;
about or from the Property by any poor owners or occupants 01 the P7OpeltYp actual iethrPatehidlitigatibn or claims' of any
kihd:by any person felating•to.suchtmatters; and (3) EXceoteTs:prevjoosIrdiselosed12ichaCk Lee'dar;ln writing,' )a) neither
aratitor nor any tenant-tiihtractor, agent ocetner atihaize8.1useraCf,theiPropertyinall use;„generate,:manufaCture,.store, treat, dispose of
or release any HPiardoi4s bnt bi from the Property anwiachl.,activiiy:shall,be in compliance
with 011 aOplicabla)iecle`ral:istate, fp,i1 re end ordineneeirielLiditig without limitation all Environmental Laws. Grantor'
at.khotizealtncto 55 agents foiehteigibinliesPiOPerri ta,:etakeiso at Grantor S exPenSe,,es Lender may deem
'appropripteito:determinecomPlingegt;tyt propeigiyth.te section s o tjtie Me AtiPiegbectione or teets readeby,Lender shall be
1 or Lender shall not becoostroedite create ahie.iCeponSitiilitY:PridiMitYti.tHP;Pkrf 01 Lender to Grantor or any other
person. The :representations and warranties contained-herein:are based on Grantor)i due ipib'en'69 in Rytitigati Property for
tlizaidous, SubSterices. Grantor hereby, .91 releases Iclaiins.againstiender'fOr. Indemnity or coril? the
'becomes liable foi'cleihdp or:Othertosts;undbr any,suCh laws; and 12r agrees ioiindemnify; defend, and hold heftiness
Lender agiinSt:kriy and 01 clairus iOSieSfilaokities damages, iniiSities expenses which Lender may directly or indirectly -sustain or
suffer resulting 1 om a breach of thie section 01 the ,.r.‘,4200.66TOf asay66:itetilrefi: EtohyhiSC,..generation, manufacture storage diaposal,
releasefor.threatened release occurring kW, tOfG7anter ownership or inteliSt,i■ whether or not the same was or Should
'havei to.brantor.. The proVAsionsofihi of:the!MOCrage;AW4ilie61;the obligation to indemnify and
the payment of the Indebtednessiand the:satis`faction and reconveyance;of ,the lien.olithis Mortgage:and shall not be affected by
acquisition of any interest in the ProOelr;.:whether by foreclosure cirotherwise.
.Nuisance, Waste. Grantor shall notoause„ conduct or permit anyinuisance commit, permit, or suffer any stripping of or waste on or to
ifiefi4ropeity or any portion,of the Without Whiting the,generakty'of .not .remove, or grant to any other
party the iight 50 remove, any iikibet, Minerals AnCluding oil and:ges), C'64.ciay, scoiri;:soil;igraveror rook products without Lender's prior
written consent.
Removailot Improvements, Graritiir shall iiiit,dernoliShor rernoVe anydmprovements'from'the Real Property without Lender's prior•written
conseni. As a condition to the 'rernOil MarregOire'Grantor to makeerringements•satisfactory to Lender to
replace such Improvements, wiihJrnprovernents.ol at,least:equal
Lender's Right to:Enter. Lender and tendeffe hdentST.and rekeil8ntativeginaj1.enter upon the Real Property at all reasonable times
to Lenders interests and.to inspect the Real Property for PurpoSeS:',Ohdenter!a,crirriPiiinCe With' the terms and conditions:of this Mortgage.
MOH IGAGE
(Continued)
Page 2
Compliance with 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 contectin, good faith any 'such
law, ordinance, orregulation 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 in 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 Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts,;in addition tothose
actsset forth above in this section, which from the•character and use of'the Property are reasonably necessary prdiect and the
Property.
DUE ON SALE CONSENT BY LENDER. Lender may, al Lender's option, declare immediately due and payable all sums secured by this
Mortgage upon the sale or transfer; without Lender's prior written consent, of all or any part of the Real Property, or any interest, in' the Real
Property. A "sale or'traitsfer" means the conveyance of Real Property or any right, title or interest inrthe Real Property; whether legal,.beneficial
or equitable; whether voluntary or involuntary; whether by outright. sale, "deed, installment sale contract, land contract, contract for deed,,
leasehold interest with a•term'greater.than three 13) years, lease= option contract, or by sale; assignment, or'transfer,of any in
or to any land trust holding titie•to the Real Property, or by any other method of conveyance. of an interest in the Real Property. However, this
option shall not be :exercised by Lender if such exercise is prohibited by federal law or by Wyoming law.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Mortgage:
Payment, Grantor•shall pay when due. (and in all events prior to delinquency) all taxes, payroll taxes, special taxes, assessments, water
charges and sewer service charges levied against or on account of the Property, and shall pay when due all claims forcwork done on or for
services renderedior'material:furnished to the Property. Grantor shall maintain. the Property free of any liens having priority over or equal to
the interest of Lender under this Mortgage, except for those liens specifically agreed to in writing by Lender, and except.foi the lien of taxes
and assessments not due.as further specified in theRight to Contest paragraph.
Right to Contest. Grantor may withhold payment of :any tax, assessment, or claim in connection with a „good 'faith dispute over the
obligation to -pay, so long. as Lender's .interest in the Property is not jeopardized. If a lien arises or is filed as':a result of nonpayment,
Grantor shall within .fifteen (151 days after the lien'arises or if 'a lien. is. filed, within. fifteen (15) days after'Grantor has notice'of the filing,
secure the'discharge of the:lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety :bond or`other security.
satisfactory to Lender in an'emount sufficient to discharge the lien' plus any costs and reasonable attorneys fees, or other charges. that
could accrue "as a result of,a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and,shall satisfy any
adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee :under any surety bond
furnished in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
authorize'the appropriate governmental official to deliver to Lender at'any time a written statement of the taxes and.assessinents against
the Property.
Notice of,Construction. Grantor shall notify Lender at least fifteen (15) days'beforeany work is commenced any..seryices are furnished; or
any materials, are supplied. to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the
work, services,.or'materials and cost exceeds 53;000.00. Grantor will'upon request of Lender furnish to Lender advance assurances
satisfactory to'Lender that Grantor can and Win pay the-cost of such irnprovements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to'insuring the Property are a: partof this Mortgage:
Maintenance of Insurance. Grantorshall procure and maintain policies of fire insurance with standard extended coverage endorsements on
a replacement. basis for the full insurable Value covering all Improvements on the Real Property in an amount sufficient to`avoid'application
of any coinsurance clause; and. with a standard mortgagee clause in favor of Lender. Policies. shall be written byi such;insurance:companies
and in such torm as may be reasonably "acceptable to Lender. Grantor shall deliver to Lender certificates. of coverage from each,insurer
containing a; stipulation:that coverage will not be cancelled or without a minimum of.ten.(10) days "prior written notice to-tender
and not containing, any. disclaimer of the insurer's .liability for failure to give .such notice. .Each insurance policy also shall 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: Should "the Real Property be located in. an area designated by the Director of the Federal Emergency Management.Agency as
a special floodihazard area Grantor agrees to obtain and maintain Federal Flood Insurance, if;•available, for the full unpaid principal balance
of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the 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 if .the' estimated cost of repair or
replacement exceeds $3,000.00.• Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty: Whether
or not Lender's security is impaired, Lender may, at Lender's election, receive and retain the proceeds' of any insurance and apply the
proceeds. to the reduction of the Indebtedness, paymem'of'any lien affecting Property, or the restoration and 'repair of the Property. If
Lender elects to apply' the proceeds' to restoration and repair, Grantor' shall; repair or rep)ace•the damaged or destroyed Improvements in a
manner' satisfaptory•to Lender. ,Lender shall, upon satisfactory proof of such expenditure, pay or reimburse Grantortfrom the proceeds for
the reasonable.cost of repair or reatoration.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 toLender under this Mortgage, then to pay accrued interest, andthe remainder, it any, -shalt be•applied to the principal
balance of the Indebtedness. If Linder 'holds any proceeds after payment'in full of the Indebtedness, such proceeds shall be paid to Grantor
as Grantor's interestsmay appear.
LENDER'S EXPENDITURES. If'Grantor fails IA) to keep the Property free of all taxes, liens, security interests; encumbrances, and.other claims,
(8) to provide any required insurance on the Property, or ICI to make repairs to the Property then Lender may do so: If any action or
proceeding is commenced that would materially affect Lender's interests in the Property, then Lender on .Grantor's; behalf may, but is not
required to, take any action that Lender believes to be-appropriate to protect Lender's interests: .Alt expenses.incurred or• paid by Lender for
such purposes. will'thenr'bear interest:at the rate charged under the Note from the date incurred or paid by Lender to the date repayment by
Grantor. All'such expenses..will become a part of the Indebtedness and atLender's option, will (A) be payable on•demandi (8) he r added to
the balanceiof the Not and be: apportioned among and be payable with any installment payments to become due, during either (1) the,.term,of
any applicable insurance policy; or 12) the remaining term of the' Note;`.or ICI be treated as a balloon; payme :which:will be due' and payable
at the Note's maturity. The. :Mortgage also will secure payment of'these amounts. The right's provided for in this paragraph: shall. be in addition
rem
to any other rights. or-any' edies to which Lender may be. entitled on account of any default. Any such action :by. Lender shall not be
construed as curing'the default so as to bar Lender from any remedy thatit otherwise would have had.
WARRANTY; DEFENSE OF TITLE, The following provisions relating tb ownership of the Property are a pan of this Mortgage:
Title. Grantor warrants that: (a) •Grantorholds good.aiid marketable title of'record to.the Property ih� ;fee.simple, all liens
and encumbrances other than those set forth in'the Real Property description o`r in any title insurance, policy, title. report, or, final title opinion
issued in favor of, and accepted 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 exception in the paragraph.above, Grantor. warrants and will forever defend the;title.to the Property against
the lawful claims of.alfpersons: In the; event, an action•�or proceeding commenced that questions Grantors title: or the interest o1Lender
under this Mortgage, Grantor shall defend the at Grantor's expense.. Grantor maybe the nominal' party' in such: proceeding,• but
Lender shall be. entitled to participate in the proceeding and to:be represented in the proceeding_ by counsel of Lender's oxyn• choice, and
Grantor will deliver, or cause to be delivered, to Le "nder such. instruments es Lender may request from time to time. to permit such
participation:
Compliance. With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with al) existing applicable laws,
ordinances, and regulations of goyernmelite' autliorities:,
Survival of'Promises, Ait promises, agreements, and statements: Grantor has,made.i0this Mortgage shall survive the execution and delivery
of this Mortgage, shall be continuing in nature and shall remain,in full force and abaci until such. time as Grantors Indebtedness is paid` in
full.
CONDEMNATION, The following provisions relating to.condemnation. proceedings are. a part of,this Mprtgage:
Proceedings. It any proceeding in condemnation is 'filed; Grantor shall promptly notify Lender'in writing, and Grantor -shall promptly take
such steps as may tie necessary'to defend the'action :and obtain the'avvard. Grantor may be,the nominal party in such proceeding, but
J
MORTGAGE
10k2r *40).
Page 3.
Lender shall be entitled* participate:in the Proceeding andto)Petrep_reterVAif.i•the i;irlfCedding hY l is own choice, and Grantor
will deliver tostildeli■niedko Lender such cristrumentsitand,documentition,asrmaybetequested by Lender from time .to time to
perniKsOch,partiCiOgiinS
Application of Net Proceeds If all or any part of tilie. Property .it.'condernned;by. erninentidomain proceedings on by any proceeding or
purchase in Iieu Of eVitsteiectiOnsreiluiretthatiale:or any•portion 01 the net proceeds of the award be applied to
the Ineehterlopee, or 05; !Tpile or restoration of the PAO:chi. The J1Noroca444 of the qward4shall:rieen the award 'after payment of all
reasonable costt, expensee,■and:Ott6Trie.Y.S! qatiLitedired Iii(endel'.' the OenCerimaticin.
IMPOSITION. OPITAX.P ANA:viciAtpg BY GOV.FFIN.Mg9-A) AUTHORITIES TheielloWir%Orovisions to governmental taxes,
fees'and chargesare a
Current Texes, Fees and Charges by Lender Granterishall!ekeOute such documents in addition to this Mortgage and take
whatever other action issequettetiyil_encle?N'PerfeCita7n0 On the :RealTioPertY. Grantor shell reirnburselender for
all taxes, as described below, together with expanses incurred in recording Peigctg or contlnulng this Mortgage, including without
limitation all.taxes, fees, documentarwstamps„andOther,:eharges■forrecording opregit,Fering thiS'MOrtg'oge..
Taxes. The following shall conititute:taxeatowhidlitthiS:aectiOn)eOpliet: upon thus type of Mo rtgage or upon all or any
part of the Indebtedness :secured: by thus Mortgage (2) a specufuc tax on Grantor w616614ranto? on required to deduct from
payments on the Indebtedneseqeceredhyrt`his.,tyPe'ciVivortgege;: ettaxtorcifilspe ofMorigage chargeable against•the Lender or the
holder of the Note; and 14) a specific 'iaxtOrf al or any *Mon of the Indebtedness on onnpayrrienis of principal and interest made by
Grantor.
Subsequent Taxes. .11 any tax to WhiCh'thia.Seetiort applies is enacted subsequent to (Awe) 'this Mortgage, 'this event shall have the
same effect as an Event of Default and Lenderay itic'ereis At ita•a■nailableZrernedies for an Event of Default as provided below
unless Grantor either it) pays Thetax..befOre it:;beeciiI4s*IinqueK ,(2) contests the tax 8s provided above in the Taxes and Liens
section and deposits with•Lendercath on'e sufficient corporate sureiytiond or:other tdirty egirefettOrY to Lender.
•SECURITY AGREEMENT; FINANCING SfATEMENTS. The following PfeVisiiirce TelitjhgAb this Mortgage es a security agreement are a part of
this MortOage:
Security -Agreement. This instrument shall conetitute 'a *Citify Agreement 'to, the e)ifetit n'y of the Property constitutes fixtures, and
(lender 'shall have all Of the rightsof atsecured:party)underlhe Uniform Commerc GOdejae from time to lithe.
Security Interest. Upon•requestf by Orider,.Gteritro2: by i*!cier to perfect and continue Lender's
security interestLiktheFersonar'14opeity;. aaditlop:to recoiddtg;thiatitiortgige.in ther2ear,:Iii'dpertyVeCords, Lender may, at any time and
without further 'authoriiation from Grantor, Icie executecLcOunterptris,.coPies or reproducTions;pf this Mortgage as a financing statement.
Grantor efiell.,:reim6Urse..L'endeVfor all expenses incturehin perfeatihtpor!eontinuing interest. Upon deiault, Grantor shall not
remove sever or,.deteCh'the'Peralanial PrOffeitY,'iftTrii7 ProgertY, Ukiri Grantor shall assemble any Personal Property no d
tOillel'roperty in a manner .and at p;plecegeasonablr corwenient Grantor and ltelider-Ond'reakeit%a'veilable to Lender .within hr
days after receipt of written.demand from Lenderkto the extent Permittedhy•akileeitileA.
Addresses. The mailing addreStee Grantor (debtor) andn front Whierfinforrnatien concerning the security interest
granted by this Mortgage may be °Kernel) (each reqUired.by the VOifergr COrRtier4gice) are as stated on the first page of this
Mortgage.
,FURTHER ASSURANCES; ArfORNENIN provitiOns relatiiig to fultriq assurances and attorney-in-fact are a part Of this
•Mortgage:
Further Assurances. At any-tiene„ and from tume 10 tune upon request of Lender Grantor wull make execute and deliver, or will cause to
be made, executed or delivered,*;Lender and'Wrien,regUesteii!AFTe'riCfer; cause iolikfiled, recorded refileq, or
rerecorded as thecase mawbe,.atsuchtiinesrand'in:such:offices anci,praCesias!Leeder may 'deem. appropriate, any and all such mortgages,
deeds of trtst, security clieds security agreethentsi financi'ng stateinents;, continuation statements, instruments of further assurance,
certificates, enkcithei'dOclirrientgattte■Min`theTape 0) Lender be necessary 01 desirable in order to effectuate, complete, perfect,
continue, 01 preserve (1 G7anqr's Re)* the Note Mortgage Ind the Related Dodurnents; and (2) the liens and
security•interesis created by thus MarigageK.asWettand,prior Iuens On..,flieFPPerty,Watfiel "flOWriWned::,cir'hireafter aceuired by Granter.
Unless' proltibiteelbyilavy or Lender agrees wthe:coriiraryiin writing,: sehbursekinde7 for all costs and expenses incurred in
connection Withlhe mattersneferredtb
Atharifey4nrFact. if Grantorfallstoido,iny'of the things referred to in the 'preceding paragraph Lender May do so ...for and in the name ,of
Granteq, and at' expense.. For such ptrpOseS). Grantor 6ereby.filievoCaRY appoints Lender as GrantOr!s ittorney-In-faci for the
purpose of makirig executung deli■felifi§r fu lun g";:neC'OiCliFig;; and doing all other things as may be necessary or desirable, in Lender's sole
opinion, to,aacomPlish the.inettert.rirfv in the ecedung pa?agraph
FULL PERFORMANCE If Grantor pas ell the IndebtedneSs; inclUding'withoUt)limitation ail;futureladvances,:when due, and otherwise performs
al) the obligations rnposed Avon raptor ,under thus Mortgage Lender s a execute and elver to Grantor a suitable satisfaction of this
Mortgage and suitable statements of termination ObagYtiinanCingltaternFn onifileliOnikheing!Lenderateacurity interest in the Rents and the
F)ersonal•Property..-drantor will pay, if'perrnitted,bylapplicable law, any.teaeodableiterolinAtiO7fee,i.deterNned by Lender fromtime to time.
EVENTS OF DEFAULT. At Lender option,•GieniOn•Willf.neffi 44tojciti:,thideriitiiSvortg artYrof the following happen:
Payment Default. Graliter'failStginialee...onirkeYMentiWherydue Onderthe'tIndebtedness:
Default on Other Payments t Of.dratitoi"within the tiine.required•px to make any payment for taxes or insurance, or
any other payment neCetairi) to prevent filung fior toleffeCt discharge of any
,BrearOther: Premises. Grantor breaks any proinise made.to lender. or taiis:to perform promptly at the time and strictly -in the manner
PrOinqe11171. tliTi•n;lorri p e r inanY egreefOTini010 td:thisiMortgage.
Default in Favor of Thlid Pardes. Should Grantor .ciefatilitundir any ioan extension of credit; security agreement purchase or sales
agFeement. or any other ,agreement frila'vtit '51 any Other foteditoV.tir. person that May .materially•affect any of Grantor's property or
Graritort ability to rePay the Grint61'..06ilkey'iti SitiOligetions this Mortgage or any of the Related
Documents.
False Statements.. Any 'representation katatenient:thade'Or,furnithed to CenderlbyiGrantor.or orqdranter's„behalf under this Mortgage or
the,Releted'Decuinents is false Ortmlildedirid iuiijy rititerial rtspect, iimarlioworif,theitime made onftunished.
Defeative.'Collaterafization. This .Mortgage 01 any vi the ,lRelated 'Documents:ceases*.be;in force and effect (including failure of any
cdiiaii4) ddatiethIO.dreate a valid and'AerfeCtedisbourityZihterester:lienj.auanyiime.and.forany reason.
Death or insolvency. The death of Grantor the of Grantor the appoiniment,of, receiver for any part 01 Grantor )s property, any
assighnient forth e benefit Of creditor's, 'any typriuonoreditor workout, or, the commencement. of any -proceeding under any bankruptcy or
insolVency laws .by or againstiGrantor.
Taking of thePrOperty. Any credito'r or governmentakegency tries* take any otthe,Property.or.any other of:Grantor's 'property in which
andel has a tier): This ineludes;:taking!Of; gaiiiiShirig.:Ofor 'levying on.:aienter s.,accountvvvith tender. :i-fowever, if Grantor disputes in
good faith whether the claim 00 cyliiChlhefakirigiof the 'Property it bated'is;Velitf Or reasonable,, and Grantor gives Lender written notice
of the claim and furnishes Lender with monies or a itleetY bond satiateetbni to Eendef'.16-satiefy'the Claim thentthis default provision Will
:noVapply:
BreaChr Other Agreement Any breach by•,Grkntor.under the terms of •any' other agreement between Grantor and Lender that is not
remedied within any grace period provided therein, inciUding Without limitation anY agreement Concerning any indebtedness or other
'obligatiOn'ef Grantor to Lendet'whether existing nowor later.
.Events Affecting Guarantor. Anyiof•the)preceding eyerittioccurs with respeCt.te.anrgnerentor„enclorser, surety, or accommodation party
of any of the Indebtedness or any .guaramor, endorser; surety, or accommodation party dues or becomes iilcoMPeterit, br revokes or
disputes the validity of, or liability under; anyrGuaranty otthetIndebtedness.
iiidki--ANb:ikailEDiES ON OEFAULt. Upon the occurrence of an Event of Defaultianq atanylime Lender, at Lenden!s option, may
exercise anyOne'orMore of the following rights and .remedies, in addition to any other rights or remedies provided by law:
00538
Mors 1 tiMGE
(Continued)
Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately
due and payable, including any prepayment penalty that Grantorwould,be required to pay.
UCC With respect. to all or any part of the•Personal Property. Lender shall have all the rights and remedies of a secured party
under the Uniform Commercial Code.
Collect Rents.. Lender shall have the right, without notice to Grantor, to take possession of the'Property; during the, pendency of
foreclosure, whether judicial or non judicial, and collect the Rents, including amounts past due 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.ihe Rents are collected by Lender, thenGrantor irrevocably designates
Lender as Grantor.;s attorney -in -fact to endorse .instruments received in payment thereof in the name of Grantor.and to negotiatethe same
and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligation's Ior.
which the payments.:are made,. whether or not any proper grounds for the demand existed: Lender may exercise uts rights under this
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 applythe proceeds, over' and above the cost of the receivership, against the Indebtedness. The receiver may serve without
bond if permitted by law. Lerider's.right to the appointment of a receiver shall exist whether or not the apparent. value of the Property
exceeds the Indebtedness' a subs amount. Employment by lender shall not disqualify a person from serving es a receiver.
Judicial Foreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest in all or any part.of the Property.
Nonjudicial Sale. Lender may foreclose Grantor's interesfin all orin any part of the Property by non judicial sale; and specifically by "power
of sale" or "advertiseinentandsale" foreclosure as provided by statute.
Deficiency Judgment. 'If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining irrthe 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 tenant atisufferanceiof' or the
purchase? of: the Property and shall, at Lender's option, either pay a reasonable rental for•the use of the Property, or (2) vacate. the
Property immediately upon the.demand of Lender.
Other'Remedies, Lender sha(I.have all other rights and remedies provided in this Mortgage.or the Note or available at law or in equity.
Sale of the•Rroperty. To the.extent permitted by applicable, law, Grantor hereby waives any and alF right to have the Property marshalled.
In exercising its fights and remedies, Lender shalt 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 all o•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. Any sale of the Personal Property may be made'in conjunction with
any sale of'the Real Property.
Election of 'f Remedies. All of Lender's rights and remedies will be cumulative .and may be .exercised alone or together. An election by
Lender to choose any one remedy'will not bar Lender: from using any other remedy. If Lender decides to spend money: or to perform any of
Grantor's obligations under this Mortgage, after Grantor's failure to do so, that decision by Lender will not affect L'endei s.rightto declare
Grantor in default and to exercise Lender's remedies.
Attorneys' 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 as the court may adjudge reasonable as; attorneys' fees et-trial and upon any- appeal. Whether or not any court action is
involved, and to the extent riot 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 ondemand and shall bear
interest at the Note rate from the date of the expenditure until repaid. Expenies covered by this paragraph include, without limitation,
however subject to any limits under applicable law, Lender's reesonable.attorneys "fees and Lender's legal expenses whether or.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 anticipated post judgment collection services, the cost of searching records, obtaining title
reports (including foreclosurereports), surveyors' reports, and appraisal fees and title insurance, to the extent permitted by applicable law.
Grantor also wit pay any court costs, in addition to.all other sums provided by law.
NOTICES. Any notice•requiredto 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, whenactually by telefecsimile !unless otherwise.requ(red by law), 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 hear the beginning of this Mortgage. All copi df notices. of foreclosure from
the holder of any lien Which'has Priority 'over this Mortgage shall be sentto 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 ofthe 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 by Lender
to an•Grantoris deemed to be.noticegiven to all Grantors, It will be Grantor's responsibility to tell the others of the notice from Lender.
MISCELLANEOUS 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: agreement with Lender-.concerning the
matters covered'by. this Mortgage. To be effective, any change or amendment to this Mortgage mustbe 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 only and are not to be used to interpret or define the
provisions of this Mortgage.
Governing Law: This• Mortgage will'be governed by federal law applicable to Lender and. to the extent not preempted, by federallaw, the
laws.of tfie.State of Wyeiming' without regard to Its conflicts 'pilaw provisions. This Mortgage has been"accepted by Lenrleriin' the Stateot
Wyoming.
Joint and. Several Liability. ■II,obligations of Grantor under this Mortgage shall be joint and several, and all references•to Grantor shall mean
each and every Grantor. 'Thi means that each Grantor.signing below is responsible for all dbligationsiin this Mortgage.
No Waiver by Lender. Grantor understands Lender Will not give upany of Lender's rights under this. Mortgage: unless Lender does so in
writing: The fact.that Lender delays or omits to exercise any right will not mean that Lenderhas given:up• that right. .if Lender does agree
M writing to give up one of Lender's rights,. that does not -mean Grantor will not have to complywith 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. Grantor further understands that just :because Lender consents tebne,or more of Grantor's requests,
that does not mean tender 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 (aw'in the Property, and Grantor
agrees that the rights of tender in the Property under this,Morigage:are prior to Grantor's rights whilethis Mortgege.remains in effect.
Severability.. If a douit finds that any provision of thisMortgage is not valid.or should not be'enforced,:thatfactby itself•will not mean that
the rest of this Morigage will iotbe,'velid or enforced. Therefore, a court will enforce the rest of the provisions of this Mortgage even if a
provision of this Mortgage may be found to be invalidor'unenforceable.
Merger: There shall bane merger of the interest or estate created by this Mortgage with any other interest.or estate in the Property at.any
time held by oi:.for the benefit of Lender in any capacity; without thewritten.consent of Lender.
Successors and,Assigns. Subject to,enylimitations.stated in this Mortgage on transfer of:Grentor's,interest, this Mortgage shall be binding
upon and.inureto the_benefit.of the parties, their,successors and,assigns. ilvownership of the Property in a person other
than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to 't Mortgage and the Indebtedness
by way of forbearance or extension withourrefeasing Grantorfrom the :obligations of this Mortgagep Iiebiiity Under the Indebtedness.
Time.is of the Essence. Time.is of the essence in the.performance.of this-Mortgage.
u0 5
Page 4
Weiver;of.Homestead'Exemption. •Grantor hereoyireleases and•weivesiall',rightsrand be'nefitipf fie.hornesteadexemption laws of the State
of Wyoming as•to all Indebtedness secured by'this Mortgage:.
DEFINITIONS. The. following words: shall have the following•meaningsrwhen;used in isiMortgage'
Borrower. The word "Borrower" means Hiram;A'Davie's a`nd Carolyn M Daviesiand includes all. co= signers andFco- makers signing the Note
and all'their successors' and assigns.
•Environmental Laws. The•.-words, yEnv Laws" :mean any and. all state;' federal and local statutes,; regulations and ordinances
relating to the; protection of;' healthror• the environment including witfiout limitation the Comprehenslye. Enviionrnental Response,
•Compensation; and Liatiility'Act of: 1980, as amended, 42' U.S.C. Section;9601,..et,seq, ll;'QERCL "1, the Superfund Amendments and
:Reauthorizetien.Act.of 1986;.:Pub. LINO. 99=499;1: 7SARA'), the hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et.seq„
the Resource Conservation and Re'boyery':A;ct;•42: Ui5(Ci Section 6901'; 'et 'seq:; :Or Other applicable state or federal laws, rules, or
regulations. adopted pursuant'thereto.
Event of, Default. The-words "Event of DefeUlt" mean any, of the events of default set,fbrth• -iii this Mortgage in the events of default
:section of this Mortgage.
Grantor. The word "Grantor" means Hiram A'Davies and Carolyn.M.Davies.
Guaranty. The word "Guaranty" ;means,the guaranty from guarantor;, endorser. surety; or accommodation party to Lender, including
without limitation a guaranty of enrol :if the Note.
Hazardous Substances. The words "Hazardous:Substances" mean materials because..oi'..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; stared'; disposed of generated manufactured, transported! oi.'oth'erwise handled. The words "Hazardous
Substances" are used in their very, oi tse nseand�incitide.
without :li any,,ani! all hazardous or toxic substances, materials or
waste as defined by or listed under;
the Enviro Laws. The term 'Hazardus;
oSubstances" also includes, without limitation, petroleum
and petroleum by- products orany fractionthereot. and .asbestos.
Improvements. The word "Improvements" means all,existingrand' future Improvements, buildings,' structures, mobile homes affixed on the
Real Property; facilities, additions, other;constructionion•the'Real Property.
Indebtedness, The word 'Indebtedness" means all principal,. Interest and other, amounts; costs and expenses payable under the Note or
Related Documents, together -with all' renewals: of;extensions of modifications oi,, consolidations ofd and substitutions for the Note or
Related Docum"entsand any'amounts expended or. advanced by Lender toldisctiarge; Grantor'sobligations or expenses incurred by Lender to.
enforce Grantor's obligations iintler.'tfiis Mortgage, ,together °.with .interest;on such amountst as provided in this Mortgage. Specifically,
without limitation, Indebtedness inclu'd a f_uture.. advances "set,forsh.in`the�'Future': Advances[, provision of this Mortgage; together with all
'interest thereon.
'Lender. The word' "Lender" Meahs:First Interstate Bank; its• assigns:. The' words:" successors or assigns" mean any person
orcompany that acquires,any interestiirr'tl e'Note'_.
Mortgage. The word "Mortgage" means',this Mortgage between Grantor and Lender;
Note. The word "Note" means. the• promissory: note, dated ^December'7; 2012, in the. original principal amount of $270,750,00
from Grantor to.lender,•togetlier witti.;all Fenewaleofriei:tensions of; :modifications!of; refinancings of;•consoliilatiens of and substitutions
for the promissory note or agreement Thematririty`idate this Mortgage is Decembsr' 2042. NOTICE TO GRANTOR: THE NOTE
CONTAINS A VARIABLE INTEREST RATE.
Personal Property. The.words Property mean all equipment; fixtures,, and:.ot er'erticles of personal property now or hereafter
owned by Grantor; and now or hereafter attached or affixed to,the.,Real Bi getFieR''with,alle cessions, parts, and additions t0, all
replacements of„ and all substitutions any of, such property and together with all proceeds lirioluding without. limitation all insurance
proceeds;and refunds of preniiums):irom:anyfeale.orother disposition ••the Property.
Property. The word "Property" meens.collectivelytthe Real Property and the Personal Property:
Real Property. The words Real Property ":mean theireal p rope e
p p rty, as'further;desoribed in this Mortgage,
Related Documents. The wards "Related :Documents" mean all :promissory notes, .credit agreements, loan agreements, environmental
agreements, guaranties, security:a'greeme6ts;. mortgages ydeeds -pf trust; security*eds; collateral mortgages, and all other .instruments,
agreements and documents; whether nowor,'hereafEe•existing, executedin;connection.wlth the Indebtedness:
Rents. The word "Rents" means allpresent and revenues, incomei;;rssues; roy'alties;'profits,•and other benefits derived from
the Property.
EACH GRANTOR ACKNOWLEDGES HAVING; REA ALL THE PROVISIONS OF THIS MORTGAGE, AND EACH GRANTOR AGREES TO ITS
TERMS.
GRANTOR:
MORTGAGE
;(,Contin
ram Carolyn'M Davies
Page 5
00540
This instrument wa H let re me on
4 0Q OB,.. o f
p
4 1-1BO CI i� o
`e o
/r 1
Mum 1 uAGE
(Continued)
INDIVIDUAL ACKNOWLEDGMENT
(date) by Hiram A Davies and.Carolyn M Davies,
otarial Si nature)
My commission expires: 10
Page 6
LASER PRO Lending, Ver. 12,2.0 Copr. Harland Financial Solutions, Inc. 1997, 2012. All Rights Reserved: WY
C:\ Software) Lase (Pro \Prosuite \CFI LPL 1G03.FC TR- 449048 PR -1017
O5
Exhibit "A"
That part of GLO Lot 4, GLO Lot 5, the SW1 /4NE1 /4 and the NW1 /4SE1 /4 of Section 4, T36N
R1 19W, Lincoln County, Wyoming, being all of Parcel 1 and part of Parcel 2 in that document of
record in the Office of the Clerk of Lincoln County in Book 761 of Photostatic Records on page
809, described as follows:
BEGINNING at the northernmost point of said Parcel 1, on the west line of said GLO Lot 5,
S00 46' -34 "W, 100.65 feet, from the northwest corner thereof:
thence N87 36' -00 "E, 478.27 feet, to the southwest iron pipe of that tract of record in said Office
in Book 242 of Photostatic Records on page 493;
thence N69 06' -36 "E, 388.32 feet, along the south line of said tract in Book 242, to the southeast
iron pipe thereof;
thence S13°-08'-01"E, 882.66 feet, along an east line of said Parcel 1 and Parcel 2, to the
southeast pipe of said Parcel 1, identical with the northeast pipe of Broken Ski Pole Subdivision
of record in the Office of the Clerk of Lincoln County with Accession No. 951409;
thence N89 13' -06 "W, 1050.56 feet, along the south line of said Parcel 1 and the north line of
said Broke Ski Pole Subdivision, to the southwest pipe thereof, on the west line of said GLO Lot
5;
thence N00 46' -21 "E, 686.80 feet, along said west line, to the POINT OF BEGINNING;
0054,E