HomeMy WebLinkAbout868633_'tecord.itkg Requested by:
WHEN RECORDED MAIL TO:
WESTERN AgCredit, PCA
P.O. BOX 95850
SOUTH JORDAN UT 84095 -0850
PCA Customer Number: 0005301505
Dated
Maturity
Face Amount
868633
REAL ESTATE MORTGAGE
Dated
RECEIVED
BOOK PR PAGE 051
THIS MORTGAGE is made this 13th day of September, 2000 between KENNETH R. PETERSEN AND ANDRA L. PETERSEN hereinafter
called "Mortgagor and WESTERN AgCredit, PCA, hereinafter called "Mortgagee a corporation, existing and operating under the Farm Credit Act
of 1971, as amended, having its principal place of business in South Jordan, Utah.
WITNESSETH: That Mortgagor IRREVOCABLY GRANTS, BARGAINS, SELLS, CONVEYS AND ASSIGNS unto Mortgagee together with
right of entry and possession the following described real property situated in the County of LINCOLN, State of WYOMING:
FOR DESCRIPTION OF REAL PROPERTY SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF
TOGETHER WITH: all buildings, structures, equipment, fixtures (including trees, vines and shrubs) and improvements of every kind and description
now or hereafter constructed or placed thereon; all standing timber and timber to be cut located thereon; all existing and future water rights, however
evidenced, to the use of water for irrigation, livestock and domestic purposes, including irrigation and watering equipment and systems, ditches,
laterals, conduits, and rights -of -way used to convey such water or to drain the above described property, all of which rights are hereby made
appurtenant to the property, and all pumping plants, electrical generators, wind machines, and fencing and storage tanks, now or hereafter used in
connection with the property, all of which are hereby declared to be fixtures; all grazing rights, leases, permits and licenses; all oil, gas, and mineral
leases, permits and rights used with the property; and all tenements, hereditaments, easements, rights -of -way and appurtenances to the property
(hereafter collectively referred to as the "Property
MORTGAGOR ABSOLUTELY AND UNCONDITIONALLY ASSIGNS, transfers, conveys and sets over to Mortgagee all the rents, royalties,
issues, profits, revenue, income and other benefits of the property arising from the use or enjoyment of all or any portion thereof or from any lease,
mineral lease, or agreement pertaining thereto (collectively the "Rents SUBJECT, HOWEVER, to the right, power and authority given to and
conferred upon Mortgagor by Paragraph B.3 hereof.
FOR THE PURPOSE OF SECURING: (1) payment of the indebtedness or obligations evidenced by the following promissory note(s) and /or
guaranties executed by Mortgagor and /or others to the Mortgagee at the times, in the manner and with interest as therein set forth (notes may contain
variable or adjustable rate provisions):
Maturity Face Amount
SEPTEMBER 13, 2000
February 1, 2002
$280,000.00
(2) The payment of such additional loans or advances, including advances under a revolving line of credit, with interest thereon, as hereafter may be
made to Mortgagor, or Mortgagor's successors or assigns, and/or to parties whose obligation Mortgagor is guaranteeing, evidenced by a promissory
note or otherwise and any obligations evidenced by any guaranties executed by Mortgagor in favor of Mortgagee; PROVIDED HOWEVER, THAT,
such additional loans advances guaranty obligations shall be secured by this Mortgage only if the promissory note, guaranty, or other document
evidencing such loans or advances shall recite that it is to be secured by this Mortgage; (3) the payment of any substitute notes, renewals,
reamortizations, and extensions of all indebtedness secured by this Mortgage; (4) the performance of every obligation and agreement of Mortgagor
whether contained or incorporated by reference in this Mortgage, or contained in any loan document or guaranty executed by Mortgagor in favor of
Mortgagee, with respect to any loan, advance, or guaranty secured by this Mortgage; and (5) the payment of all sums expended or advanced by
Mortgagee under or pursuant to the terms of this Mortgage, together with interest thereon as herein provided. The continuing validity and priority of
this Mortgage as security for future loans, advances, or guaranties shall not be impaired by the fact that at certain times hereafter there may exist no
outstanding indebtedness from Mortgagor to Mortgagee or no commitment to make loans or advances.
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threatened to be released, or otherwise allowed to migrate or escape on, under or from the Property in such quantities or
concentrations as would violate any federal, state or local Environmental Law, regulation or ordinance or as would require
Mortgagor to report such condition to any governmental authority or to undertake removal or remedial action to clean up such
contaminants;
(ii) No Contaminants are located on, in or under any property located adjacent to the Property in such quantities or concentrations
as would constitute a violation of any Environmental Law or as would require the owner of the adjacent property to report such
condition to any governmental authority or to undertake removal or remedial action to clean up such Contaminants;
(iii) Neither the Property, nor any portion thereof, nor any adjacent property or portion thereof, has been or is proposed to be listed
under the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. Section 9601, et seq.), or any
analogous state law. Mortgagor shall immediately notify Mortgagee if Mortgagor acquires any information concerning the listing
or proposed listing of the Property or any adjacent property and shall provide Mortgagee with any documents in Mortgagor's
possession relative thereto;
(iv) No hazardous wastes, as defined under the Federal Resource Conservation and Recovery Act (42 U.S.C. Section 6901, et seq.),
or any analogous state law "Hazardous Wastes have been, are being or will be stored or treated in surface impoundments or
other structures or facilities located on the Property that are partially or entirely below the ground surface;
(v) No litigation, investigation, administrative order, consent order, agreements, or other action, proceeding or settlement
(hereinafter "Action has previously been brought, is now pending, or to the best knowledge of Mortgagor threatened against or
anticipated by Mortgagor, with respect to Mortgagor's use or management of Hazardous Materials or Hazardous Wastes or the
environmental condition of the Property, including any underlying groundwater. Upon learning thereof, Mortgagor shall
immediately notify Mortgagee of any such Action or threatened Action and provide Mortgagee with copies of all documentation
relative thereto; and
(vi) Except as disclosed in writing to Mortgagee, no underground tanks, wells (except domestic water wells), septic tanks, ponds,
pits or any other storage tanks "Tanks (whether currently in use or abandoned) are or were located on or under the Property and
no Tanks are or were serving the Property described herein. With respect to any Tanks disclosed in writing to Mortgagee,
Mortgagor shall comply with all federal, state and local laws, regulations and ordinances and any requirements of city or county
fire departments, applicable to the maintenance and use of such Tanks, including, without limitation, Title 40 of the Code of
Federal Regulations Part 112.
(b) Nothing herein shall be deemed to prohibit Mortgagor from (i) using, handling or storing hazardous materials or substances, as
defined under any federal, state or local law, regulation or ordinance "Hazardous Materials or (ii) storing or treating non hazardous
wastes, so long as such activities are carried out (a) in a good and husbandlike manner in the ordinary course of business, and (b) in
compliance with all applicable environmental taws, regulations, permits, orders or other requirements.
(c) In the event that Mortgagor is in breach of any of its representations, warranties or covenants as set forth above, Mortgagor, at its sole
expense, shall take all action required, including environmental cleanup of the Property, to comply with the representations, warranties
and covenants herein or applicable legal requirements and, in any event, shall take all action deemed necessary by appropriate
governmental authorities. Mortgagee shall have the right, but not the obligation, to advise appropriate governmental authorities of any
environmental condition on or affecting the Property that constitutes or may constitute a breach of Mortgagor's obligations hereunder.
(d) Mortgagor and its successors and assigns shall indemnify, defend, protect, and hold harmless Mortgagee, its directors, officers,
employees, agents, shareholders, successors and assigns and their officers, employees or agents, from and against any and all claims,
suits, damages, liens, losses, liabilities, interest, judgments, response and cleanup costs, demands, actions, causes of action, injuries,
administrative proceedings and orders, consent agreements and orders, penalties, costs and expenses (including any fees and expenses
incurred in enforcing this indemnity, any out -of- pocket litigation costs and the reasonable fees and expenses of counsel) of any kind
whatsoever "Claims paid, incurred or suffered by, or asserted against Mortgagee, including but not limited to Claims arising out of loss
of life, injury to persons, trespass or damages to or contamination of property or natural resources, or injury to business, in connection
with or arising out of the activities of Mortgagor on the Property, Mortgagor's predecessors in interest, third parties who have been
invited, permitted or trespassed on the Property, or parties in a contractual relationship with Mortgagor, or any of them, or which directly
or indirectly arise out of or result from or in any way connected with the Property, whether or not caused by Mortgagor or within the
control of Mortgagor, including without limitation: (i) the presence, use, generation, treatment, storage, disposal, release, threatened
release, or discharge of any Hazardous Material or Contaminant at or from the Property and /or the cleanup of Hazardous Materials or
Contaminants within, on or under the Property; (ii) Mortgagor's breach of any of the representations, warranties and covenants contained
herein; and (iii) Mortgagor's violation or alleged violation of any applicable Environmental Law, regulation or ordinance.
(e) Mortgagor's representations, warranties, covenants and indemnities contained herein shall survive the occurrence of any event
whatsoever, including without limitation the payoff of any promissory note(s) secured hereby, the release or foreclosure of this Mortgage,
the acceptance by Mortgagee of a deed in lieu of foreclosure, or any transfer or abandonment of the Property.
(f) The term "Environmental Law" shall mean any federal, state or local law, statute, ordinance, or regulation, now in effect or hereinafter
enacted, pertaining to health, industrial hygiene, or the environmental conditions on, under or about the Property, including but not
limited to enactments requiring the removal or containment of asbestos containing materials in private buildings.
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DESCRIPTION FOR
RAYMOND S. PETERSEN AND SONS, INC.
KENNY PETERSEN PARCEL
To -wit:
That part of Tract 89. T24N, RI 19W, Lincoln County, Wyoming, being part of that tract of
record in the Office of the Clerk of Lincoln County in Book 127 of Photostatic Records on
page 209, described as follows:
BEGINNING at a point on the northwesterly right -of -way line of State Highway 232,
N45 23' -55 "E, 475.01 feet from the west one quarter corner of resurveyed Section 4,
T24N, R119W;
thence N59 16' -54 "W, 214.95 fect to a point;
thence N00 40' -53 "W, 338.74 feet to a point;
thence S88 01' -35 "E, 650.17 feet to a point on said northwesterly right -of -way;
thence S47 49' -13 "W. 535.95 feet. along said right -of -way to highway right -of -way marker
stamped 26 +94.9 at the start of a non tangent circular curve to the left, which has as its
radius point bearing S42 14' -27 "E;
thence southwesterly, 92.05 feet, along the arc of said curve, through a central angle of 07°
40' -33 with a radius of 687.12 feet, and a chord bearing N43 55 -16 "E, to the POINT
OF BEGINNING;
ENCOMPASSING an area of 3.97 acres, more or less;
the BASE BEARING for this survey is the west line of the SWVO of Section 4, T24N,
RI 19W, bcing N00 03' -00 "E;
each "corner" found as described in the Comer Record filed in the Office of the Clerk of
Lincoln County;
each "point" markcd by a 5/8" X 24" steel reinforcing rod with a 2" aluminum cap
inscribed, "SURVEYOR SCHERBEL LTD AFTON WY PLS 5368 with appropriate
details;
each "highway right -of -way marker" is a 6" X 6" concrete post with brass marker, inscribed
"STATE HIGHWAY DEPT. R.O.W. MARKER" and appropriate details;
all in accordance with the plat prepared to be fled in the Office of the Clerk of Lincoln
County titled, "PLAT TO ACCOMPANY PARCEL DIVISION APPLICATION FOR
RAYMOND S. PETERSEN AND SONS, INC. WITHIN TRACT 89 T24N R119W
LIN e iUNTY, WYOMING' d d 3 April 2000.
"Modification In any way of the foregoing description terminates liability of the surveyor”