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Home My WebLink About869853AFTER RECORDING RETURN TO: Washington Federal Savings 500 N Capital Ave Idaho Falls, ID 83402 Attention: Ronna Lee SHORT FORM MORTGAGE (WITH POWER OF SALE), SECURITY AGREEMENT AND FIXTURE FILING WITH ASSIGNMENT OF LEASES, RENTS AND ACCOUNTS THIS MORTGAGE "Security Instrument is made November 17th, 2000 BETWEEN Rosewood Builders Inc. an Idaho Corporation as Mortgagor "Borrower whose address is P 0 Box 51535 Idaho Falls ID 83405 and WASHINGTON FEDERAL SAVINGS, a United States Corporation, as Mortgagee "Lender whose address is 500 N Capital Avenue Idaho Falls ID 83402 Borrower hereby irrevocably mortgages, warrants, grants, bargains, sells and conveys to Lender and its successors and assigns, with power of sale and with right of entry and possession as provided herein and by Wyoming: law, all Borrower's estate, right, title, interest, claim and demand, now owned or hereafter acquired, in and to the following described property in Lincoln County, Wyoming (the "Property which term shall include all or any part of the Property, any improvements thereon and all the property described in Paragraph 2 of the Master Form Mortgage hereinafter referred to): Lot 129 of Nordic Ranches Division No 9 Lincoln County Wyoming according to that plat filed October 4, 2000 as Plat No 312 -B. This Mortga SEE 603011/7/:% OF WJRT ES PAO which has the address of NNK Saddle Drive County Road 414 Etna, WY 83118 TOGETHER WITH all the tenements, hereditaments and appurtenances, now or hereafter thereunto belonging or in any way appertaining, leases and other agreements for the use and occupancy pertaining thereto, and the rents, issues and profits thereof and all other property or rights of any kind or nature whatsoever further set forth in the Master Form Mortgage hereinafter referred to, SUBJECT, HOWEVER, to the right, power and authority hereinafter given to and conferred upon Lender to collect and apply such rents, issues and profits. This Security Instrument shall constitute a security agreement under the Uniform Commercial Code of Wyoming between Borrower as debtor and Lender as secured party. Borrower grants a security interest to Lender in any of the Property which is personal property and also grants a security interest in the property described in Paragraph 3 of the Master Form Mortgage hereinafter referred to, now owned or hereafter acquired by Borrower (the Property, as defined above, and the property described in said Paragraph 3 are hereafter collectively referred to as the "Collateral THIS SECURITY INSTRUMENT IS FOR THE PURPOSE OF SECURING the following: (a) Payment of the sum of *One Hundred Forty Two Thousand Four Hundred and No/ 100s*************************************** DOLL 'S *142,400.00 with interest thereon according to the terms of a promissory note of even date herewith, payab to Lender or order and made by Borrower (the "Note", which term shall include all notes evidencing the indebtedness secured b, is Security Instrument, including all renewals, modifications or extensions thereof); (Page 1 of 3) Recorde r .,�ae1.ad... at s� l'.qM In Boo Page 0 Kemmerer, WY No. 0'91;56 Jeanne Wagner, Clerk Loan Number 044 209 2378198 Title Company Land Title Company Order Number 03014119 Borrower's Initials L0175-T (WY) 03/08/96 X 03; b) Payment of any further sums advanced or loaned by Lender to Borrower, or any of its successors or assigns, if (1) the Note or other writing evidencing the future advance or loan specifically states that it is secured by this Security Instrument, or (2) the advance, including costs and expenses incurred by Lender, is made pursuant to this Security Instrument or any other documents executed by Borrower evidencing, securing, or relating to the Note and /or the Collateral, whether executed prior to, contemporaneously with, or subsequent to this Security Instrument (this Security Instrument, the Note and such other documents, including any construction loan, land loan or other loan agreement, are hereinafter collectively referred to as the "Loan Documents together with interest thereon at the rate set forth in the Note unless otherwise specified in the Loan Documents or agreed to in writing; c) Performance of each agreement, term and condition set forth or incorporated by reference in the Loan Documents, including without limitation the loan agreement of even date herewith, which are incorporated herein by reference or contained herein. THE MATURITY DATE OF THESE SECURED OBLIGATIONS, AS CONTAINED IN THE LOAN DOCUMENTS, INCLUDING THE NOTE, IS November 17 2002 By executing and delivering this Security Instrument and the Note secured hereby, the parties agree that all provisions of Paragraphs 1 through 69 inclusive of the Master Form Mortgage hereinafter referred to, except such paragraphs as are specifically excluded or modified herein, are hereby incorporated herein by reference and made an integral part hereof for all purposes the same as if set forth herein at length, and the Borrower hereby makes said covenants and agrees to fully perform all of said provisions. The Master Form Mortgage above referred to was recorded on the dates below shown, in the Official Records of the offices of the County Clerks of the following counties in the State of Wyoming according to the enumerated recordation designations appearing below after the name of each county, to wit: COUNTY BOOK OR VOLUME PAGE NO. RECORDING NO. DATE OF RECORDING LINCOLN 374PR 644 -655 809964 October 16, 1995 TETON 310 1174 -1185 0404875 October 11, 1995 A copy of such Master Form Mortgage has been furnished to the person executing this Security Instrument, and by executing this Security Instrument the Borrower acknowledges having received such Master Form Mortgage. The Property which is the subject of this Security Instrument is not used principally or primarily for agricultural or farming purposes. The undersigned Borrower requests that a copy of any Notice of Default and of any Notice of Sale hereunder, as required by Wyoming law for the foreclosure of a mortgage with power of sale, be mailed to Borrower at Borrower's address as hereinabove set forth. Borrower agrees to obtain all insurance required from time to time by Lender and as elsewhere provided in the Loan Documents, including flood insurance. If Borrower fails to maintain such insurance satisfactory to the Lender, Lender may make the payment on behalf of the Borrower and any sums expended shall be added to principal and bear interest at the rate provided in the Note. If the box preceding any of the following statements contains an "X", that statement is a part of this Security Instrument. If the box is not so checked, the corresponding statement is not part of this Security Instrument. U Paragraph 49 of the Master Form Mortgage (which refers to the existence, if any, of an adjustable rate feature in the Note) is hereby deleted. The Note secured hereby evidences a construction loan or land loan but is not a combination Note. Paragraph 53 of the Master Form Mortgage is hereby deleted. n The Note secured hereby is a combination construction loan /permanent loan Note. Refer to paragraph 53 of the Master Form Mortgage. n The Property or a part thereof is a Condominium. Refer to paragraph 50 of the Master Form Mortgage. n A fee owner and a leasehold owner of the Property, or a portion thereof, have executed this Security Instrument. Refer to paragraph 51 of the Master Form Mortgage n The Property or a part thereof is a leasehold estate. Refer to paragraph 52 of the Master Form Mortgage. C See also Schedule "A" of this Short Form Mortgage, attached hereto and incorporated herein by this reference. 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