Loading...
HomeMy WebLinkAbout970010/77y o c W to O0 M Oo m 6 it Ern e DATE AND PARTIES. The date of this Mortgage (Security Instrument) is February 13, 2013. The parties and their addresses are MORTGAGOR: CURTIS K. HUNSAKER Spouse of Sheila D. Hunsaker 7108 E. Pershing Blvd. Cheyenne, WY 82001 SHEILA D. HUNSAKER Spouse of Curtis K. Hunsaker 7108 E. Pershing Blvd Cheyenne, WY 82001 ZACHARY KAY HUNSAKER An unmarried individual 7108 E. Pershing Blvd Cheyenne, WY 82001 LENDER: THE BANK OF STAR VALLEY Organized and existing under the laws of Wyoming 384 Washington P.O. Box 8007 Afton, WY 83110 Husband and Wife, Tenants by the Entirety, A single person, as joint tenants 1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debts and Mortgagor's performance under this Security instrument, Mortgagor does hereby grant, bargain, convey, mortgage and warrant to Lender, with the power of sale, the following described property: Curtis K. Hunsaker Wyoming Mortgage WY14XPTOLMAN00000000000654051022513N Wolters Kluwer Financial Services °1996, 2013 Bankers Systems" Page 1 IUFD 3 1NJIIII!llIhIIIII1I Space Above This Line For Recording Data MORTGAGE 00070 RECEIVED 3/18/2013 at 2:30 PM RECEIVING 970010 BOOK: 807 PAGE: 70 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY See exhibit "A" attached hereto and made a part hereof 00071 The property is located in Lincoln County at 103470 Hwy 89, Freedom, Wyoming 83120. Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, wells, ditches and water stock, crops, timber, all diversion payments or third party payments made to crop producers and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described (all referred to as Property), This Security Instrument will remain in effect until the Secured Debts and all underlying agreements have been terminated in writing by Lender. 2. SECURED DEBTS. The term "Secured Debts" includes and this Security Instrument will secure each of the following: A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and replacements. A promissory note or other agreement, No. 01703714, dated February 13, 2013, from Curtis K. Hunsaker and Sheila D. Hunsaker (Borrower) to Lender, with a loan amount of $80,000.00. B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security Instrument. 3. PAYMENTS. Mortgagor agrees that all payments under the Secured Debts will be paid when due and in accordance with the terms of the Secured Debts and this Security Instrument. 4. NON- OBLIGATED MORTGAGOR. Any Mortgagor, who is not also identified as a Borrower in the Secured Debts section of this Security Instrument and who signs this Security Instrument, is defined as a cosigner for purposes of the Equal Credit Protection Aet and the Consumer Financial Protection Bureau's Regulation B, 12 C.F.R. 1002.7(d)(4), and is referred to herein as a Non Obligated Mortgagor, By signing this Security Instrument, the Non Obligated Mortgagor does mortgage and assign their rights and interests in the Property to secure payment of the Secured Debts, to create a valid lien, to pass clear title, to waive inchoate rights and to assign earnings or rights to payment under any tease or rent of the Property. However, the Non Obligated Mortgagor is not personalty liable for the Secured Debts. 5. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder, C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written consent. 6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 7. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any transfer or sate of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. 8. WARRANTIES AND REPRESENTATIONS. Mortgagor has the right and authority to enter into this Security Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing Mortgagor or to which Mortgagor is a party. 9. PROPERTY CONDITION, ALTERATIONS, INSPECTION, VALUATION AND APPRAISAL. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor will not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds Curtis K. Hunsaker Wyoming Mortgage WY/ 4XPTOLMAN0 00000 0 00006 540 5 1 0 2 2 5 1 3N Wolters Kluwer Financial Services 0 1396, 2013 Bankers Systems'' Page 2 17 9G 2 4 4 1 G 0 2 1 3 2 0 1 3 00072 and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor, and of any loss or damage to the Property. No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent except that Mortgagor has the right to remove items of personal property comprising a part of the Property that become worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value to the replaced personal property, free from any title retention device, security agreement or other encumbrance. Such replacement of personal property will be deemed subject to the security interest created by this Security Instrument. Mortgagor will not partition or subdivide the Property without Lender's prior written consent. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time and frequency for the purpose of inspecting, valuating, or appraising the Property. Lender will give Mortgagor notice at the time of or before an on -site inspection, valuation, or appraisal for on -going due diligence or otherwise specifying a reasonable purpose. Any inspection, valuation or appraisal of the Property will be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection, valuation or appraisal for its own purpose, except as otherwise provided by law. 10. AUTHORITY TO PERFORM. if Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. Lender's right to perform for Mortgagor will not create an obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction. 11. DEFAULT. Mortgagor will be in default if any of the following events (known separately and collectively as an Event of Default) occur: A. Payments. Mortgagor or Borrower fail to make a payment in full when due. B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against Mortgagor, Borrower, or any co- signer, endorser, surety or guarantor of this Security Instrument or any other obligations Borrower has with Lender. C. Death or Incompetency. Mortgagor dies or is declared legally incompetent. D. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this Security Instrument. E. Other Documents. A default occurs under the terms of any other document relating to the Secured Debts. F. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has with Lender. G. Misrepresentation. Mortgagor makes any verbal or written statement or provides any financial information that is untrue, inaccurate, or conceals a material fact at the time it is made or provided. H. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor. 1. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority. J. Name Change. Mortgagor changes Mortgagor's name or assumes an additional name without notifying Lender before making such a change. K. Property Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money or property. This condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the DUE ON SALE section. L. Property Value. Lender determines in good faith that the value of the Property has declined or is impaired. Curtis K. Hunsaker Wyoming Mortgage WYI4XPTOLMAN000000000006540 p1 '1 p11113111 Iu IIIIwliuII uI Wolters Kluwer Financial Services 0 1996, 2013 Bankers Systems Page 3 00073 M. insecurity. Lender determines in good faith that a material adverse change has occurred in Borrower's financial condition from the conditions set forth in Borrower's most recent financial statement before the date of this Security Instrument or that the prospect for payment or performance of the Secured Debts is impaired for any reason. 12. REMEDIES. On or after the occurrence of an Event of Default, Lender may use any and all remedies Lender has under state or federal law or in any document relating to the Secured Debts, including, without limitation, the power to sell the Property. Any amounts advanced on Mortgagor's behalf will be immediately due and may be added to the balance owing under the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available on Mortgagor's default. Subject to any right to cure, required time schedules or any other notice rights Mortgagor may have under federal and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence of an Event of Default or anytime thereafter. Upon any sale of the Property, Lender will make and deliver a special or limited warranty deed that conveys the property sold to the purchaser or purchasers. Under this special or limited warranty deed, Lender will covenant that Lender has not caused or allowed a lien or an encumbrance to burden the Property and that Lender will specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims and demand of all persons claiming by, through or under Lender. The recitals in any deed of conveyance will be prima facie evidence of the facts set forth therein. All remedies are distinct, cumulative and not exclusive, and Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial payment on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are filed will not constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising any remedy, Lender does not waive Lender's right to later consider the event a default if it continues or happens again. 13. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after the occurrence of an Event of Default, to the extent permitted by law, Mortgagor agrees to pay all expenses of collection, enforcement, valuation, appraisal or protection of Lender's rights and remedies under this Security Instrument or any other document relating to the Secured Debts. Mortgagor agrees to pay expenses for Lender to inspect, valuate, appraise and preserve the Property and for any recordation costs of releasing the Property from this Security instrument. Expenses include, but are not limited to, attorneys' fees, court costs and other legal expenses. These expenses are due and payable immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full at the highest interest rate in effect as provided for in the terms of the Secured Debts. In addition, to the extent permitted by the United States Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees incurred by Lender to protect Lender's rights and interests in connection with any bankruptcy proceedings initiated by or against Mortgagor. 14. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance" under any Environmental Law. Mortgagor represents, warrants and agrees that: A, Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or handled by any person on, under or about the Property, except in the ordinary course of business and in strict compliance with all applicable Environmental Law. Curtis K. Hunsaker Wyoming Mortgage W Y( 4XPTOl .MAN00000000000654051022513N llifl �w11UIllI11hI�IIiIINl�lIIli Wolters Kluwer Financial Services '1996, 2013 Bankers Systems'" Page 4 J0074 B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. C. Mortgagor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial action in accordance with Environmental Law. D. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Mortgagor or any tenant of any Environmental Law. Mortgagor will immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an event, Lender has the right, but not the obligation, to participate in any such proceeding including the right to receive copies of any documents relating to such proceedings. E. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been, are and will remain in full compliance with any applicable Environmental Law. F. Except as previously disclosed and acknowledged in writing to Lender, there are no underground storage tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. G. Mortgagor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and complied with. H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all records at any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environmental Law. I. Upon Lender's request and at any time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified environmental engineer to prepare an environmental audit of the Property and to submit the results of such audit to Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's approval. J. Lender has the right, but not the obligation, to perform any of Mortgagor's obligations under this section at Mortgagor's expense. K. As a consequence of any breach of any representation, warranty or promise made in this section, (1) Mortgagor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all losses, claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses, including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Security instrument and in return Mortgagor will provide Lender with collateral of at least equal value to the Property without prejudice to any of Lender's rights under this Security Instrument. L. Notwithstanding any of the language contained in this Security Instrument to the contrary, the terms of this section will survive any foreclosure or satisfaction of this Security Instrument regardless of any passage of title to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the contrary are hereby waived. 15. CONDEMNATION. Mortgagor will give Lender prompt notice of any pending or threatened action by private or public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds will be considered payments and will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. Curtis K. Hunsaker Wyoming Mortgage WY/ 4XPT0LMAN0000000000065405 1/1,14 1,111111M01 Wolters Kluwer Financial Services ®1996, 2013 Bankers Systems" Page 5 00076 23. NOTICE, ADDITIONAL DOCUMENTS AND RECORDING FEES. Unless otherwise required by taw, any notice will be given by delivering it or mailing it by first class mail to the appropriate party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one Mortgagor will be deemed to be notice to all Mortgagors. Mortgagor will inform Lender in writing of any change in Mortgagor's name, address or other application information. Mortgagor will provide Lender any other, correct and complete information Lender requests to effectively mortgage or convey the Property. Mortgagor agrees to pay all expenses, charges and taxes in connection with the preparation and recording of this Security Instrument. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Security instrument and to confirm Lender's Tien status on any Property, and Mortgagor agrees to pay all expenses, charges and taxes in connection with the preparation and recording thereof. Time is of the essence. SIGNATURES. By signing, Mortgagor agrees to the terms and covenants contained in this Security instrument. Mortgagor also acknowledges receipt of a copy of this Security instrument. MORTGAGOR: Curtis K. Hunsaker Individually Sheila D. Hunsaker individually Zachary Kay Hunsaker Individually LENDER: The Bank Of Star Valiey Se th Jenkins, Vice siden Curtis K. Hunsaker Wyoming Mortgage WYI4XPTOLMAN000000000006540510225 I Ut II!ihIIIrlhr!!IIII1I1 Date Date 3 3 2M Date 3` 7/Y 3 Date 3 Wolters Kluwer Financial Services 42 1996, 2013 Bankers Systeme" Page 7 G) ACKNOWLEDGMENT County of f l di On this Zday of,..;_ ,201. 1 personally appeared before me, who is personally known to me, .whose identity I verified on the basis of tZ _whose identity I verified on the oathlaffirmatioi of a credible witness, to be the signer of the foregoing document, and he/she acknowledged that he /she signed i C _.s My Commission Expires: ft• a 9 State of ACNOWLEDGMENT 1 f i P OF 1, OF This instrument was acknbwledg d before me this rith day Sheila D. Hunsaker, Sheila D. Hunsaker spouse of Curtis K. individual. My commission expires: '(Vl(t..k,C' /h a gOl H Rts -1 PU LI C con x• .STATE OF wYorinms (Lender Acknowl v r r ;SSit }4* OF C� OF This instrument was ackn of The Bank Of Star Valley. My commission expires: Curtis K. Hunsaker Wyoming Mortgage WYl 4XPTOLMAN00000000000 654051022513N ss. of February 2013 by Curtis K. Hunsaker spouse of Hunsaker, and Zachary Kay Hunsaker an unmarried {Notary Public) (Notary Public) Ss. d before me the lth day of February 2013 by Seth Jenkins as Vice President L I c "I,IULI NEOF.KEP COUNT`:' MARCH k.3. 2014 I F WYOMING Wolters Kluwer financial Services "1995, 2013 Rankers Systems" u477 Page 8 00078 That part of the Southwest Quarter of the Southwest Quarter of Section 35, Township 35 North, Range 119 West, Lincoln County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 507 of Photostatic Records on page 771, described as follows: Commencing at the Southwest corner of said Section 35; thence North 00 °05'46" West 335.61 feet along the West line of said Southwest Quarter of the Southwest Quarter to a spike; thence continuing North 00 °05'46" West 180.64 feet along said West line to a spike; thence South 89 °42'13" East 55.05 feet to the POINT OF BEGINNING on the Easterly right -of -way line of U.S. Highway 89; thence South 89 °42'13" East 239.69 feet along a line which approximates the existing fence line to a point; thence South 00 °25'03" East 178.63 feet along an existing fence line in part to a point; thence South 89 °54'16" West 88.78 feet to a point; thence North 00 °25'03" West 121.90 feet to a point; thence North 89 °42'13" West 151.12 feet to a point on said Easterly right -of -way line; thence North 00 °12'16" West 57.33 feet, along said right -of -way line to the POINT BEGINNING.