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HomeMy WebLinkAbout8688008 68800 Space Above This Line For Recording Data MORTGAGE (With Future Advance Clause) RECEIVE ..11\10 3_r. 0 0 OCT f4 07 jc f(CMIERvr, Um1 BOOK )3PR PAGE 51 8 DATE AND PARTIES. The date of this Mortgage (Security Instrument) is SEPTEMBER 18, 2000. The parties and their addresses are: MORTGAGOR: WALTER R DUFF 1430 7TH WEST AVE KEMMERER, Wyoming 83101 DEBBIE S DUFF 1430 7TH WEST AVE KEMMERER, Wyoming 83101 LENDER: COMMUNITY FIRST NATIONAL BANK Organized and existing under the laws of the United States of America 801 Pine Avenue Kemmerer, Wyoming 83101 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 grants, bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property: LOT THIRTEEN (13) OF BLOCK TWO (2), LINCOLN HEIGHTS 4TH SUBDIVISION TO THE CITY OF KEMMERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. The Property is located in LINCOLN County at 1430 7TH WEST AVE, KEMMERER, Wyoming 83101. Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, wells, ditches and water stock 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. WALTER R DUFF Wyoming Mortgage WY/ 3VER1306C2000000000000005D0000005En9 1996 Bankers Systems, Inc., St. Cloud, MN Initials IFL Page 1 D. a Z e6ed NW PfOIO 'iS 'oul 'swelsAS slaves 966L0 @NT slemul 6u350000000500000000000000Z090ELH3n /AM •6o63ioW Bu!woAM ddna H 8311VM •A11edoJd aiL of a6ewep 10 ssol Aue Jo pue 'J36e6polnj nsu!e6e suo!n °e pue 'sw!elo 's6u!paao0Jd 'spuewap lie ;o aapue1 A;l1ou !!!nn Jo6e61aolN uesuoo ualn!JM 1o!Jd s,Japuai Lnoy1!M luewasea .10 nueuanoO en!Lo!Jnsaa 'esuaO!l Aue u! 06u243 Aue L!w1ad Lou II!M 1o 6e61Jolnj •luesuoo uaU!JM Jong s,Japuai lnoyn!M a6ueyo Alle!luensgns Lou !1!M asn pue Aouedn000 ay1 }o alnleu a4. Legn seeiBe 10601.10N sessea6 pue speem sno!xou Jo mail ALJado.d ay} dee)! II!M Jo6e61noIN •AL1adoJd ay1 Jo uo!LeJOUalap 10 '1uawiledw! 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Any inspection of the Property will be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 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. ASSIGNMENT OF LEASES AND RENTS. Mortgagor grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in and to any and all: A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or substitutions of such agreements (all referred to as Leases). B. Rents, issues and profits (all referred to as Rents), including but not limited to security deposits, minimum rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claims which Mortgagor may have that in any way pertain to or are on account of the use or occupancy of the whole or any part of the Property. Mortgagor will promptly provide Lender with true and correct copies of all existing and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default under the terms of this Security Instrument. Mortgagor agrees that this assignment is immediately effective between the parties to this Security Instrument. Mortgagor agrees that this assignment is effective as to third parties when Lender takes affirmative action prescribed by law, and that this assignment will remain in effect during any redemption period until the Secured Debts are satisfied. Mortgagor agrees that Lender may take actual possession of the Property without the necessity of commencing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Mortgagor of Mortgagor's default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will endorse and deliver to Lender any payment of Rents in Mortgagor's possession and will receive any Rents in trust for Lender and will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security Instrument. Mortgagor warrants that no default exists under the Leases or any applicable landlord /tenant law. Mortgagor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 12. DEFAULT. Mortgagor will be in default if any of the following occur: A. Payments. Any party obligated on the Secured Debts fails to make payment when due. B. Failure of Condition or Term. Any party obligated on the Secured Debts breaches any term of this Security Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debts. C. Insecurity. Anything else happens that causes Lender to reasonably believe that the prospect of payment, performance or the value of the Property is significantly impaired. 13. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument evidencing or pertaining 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 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 a default or anytime thereafter. WALTER R DUFF Wyoming Mortgage WY/ 3VER1306C2000000000000005D0000005En9 Initials ®1996 Bankers Systems, Inc., St. Cloud, MN Page 3 DP C/ Q see stetltut NW 'Pn •1S "'out •swalsAS sieves 966L 6u390000000900000000000000Z090 ELa3AE /AM e6.6poW 6utwoAM 33na 1:1311VM sannboe Japuaq ll •uolldo s,lapuaq 1e 'slgaa pampas ma 01 10 A11adoid ay]. 4o Jledal Jo uollelo].sa1 0]. paudde aq IIIM spaaooJd aOu2Jnsu! 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Jo anp s! aoueleq ay4 13442 slgaa pampas 041 uo luawAed 19!11ed Jo luawAed u! wns Aue 40 Japuaq Aq a3u24da00e 941 •94104 las AlssaJdxa lou Jo aayla9M 'A4jnba Jo Mel le pepinoad salpawal lie 01 pajlllua s! Japuaq 094 pug 'an!snl3xa 40U pue an!1elnwno 'lOUl4slp ale salpawaJ lly O t.;8 OO 522 the Property in damaged condition, Mortgagor's rights to any insurance policies and proceeds will pass to Lender to the extent of the Secured Debts. Mortgagor will immediately notify Lender of cancellation or termination of insurance. If Mortgagor fails to keep the Property insured Lender may obtain insurance to protect Lender's interest in the Property. This insurance may include coverages not originally required of Mortgagor, may be written by a company other than one Mortgagor would choose, and may be written at a higher rate than Mortgagor could obtain if Mortgagor purchased the insurance. 18. ESCROW FOR TAXES AND INSURANCE. Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 19. CO- SIGNERS. If Mortgagor signs this Security Instrument but does not sign the Secured Debts, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debts and Mortgagor does not agree to be personally liable on the Secured Debts. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may include, but are not limited to, any anti deficiency or one action laws. 20. WAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating to the Property. 21. APPLICABLE LAW. This Security Instrument is governed by the laws of Wyoming, except to the extent otherwise required by the laws of the jurisdiction where the Property is located, and the United States of America. 22. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgagor's obligations under this Security Instrument are independent of the obligations of any other Mortgagor. Lender may sue each Mortgagor individually or together with any other Mortgagor. Lender may release any part of the Property and Mortgagor will still be obligated under this Security Instrument for the remaining Property. The duties and benefits of this Security Instrument will bind and benefit the successors and assigns of Lender and Mortgagor. 23. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security Instrument may not be amended or modified by oral agreement. No amendment or modification of this Security Instrument is effective unless made in writing and executed by Mortgagor and Lender. This Security Instrument is the complete and final expression of the agreement. If any provision of this Security Instrument is unenforceable, then the unenforceable provision will be severed and the remaining provisions will still be enforceable. 24. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The section headings are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. 25. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, 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 party will be deemed to be notice to all parties. Mortgagor will inform Lender in writing of any change in Mortgagor's name, address or other application information. Mortgagor will provide Lender any financial statements or information Lender requests. All financial statements and information Mortgagor gives Lender will be correct and complete. 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 lien status on any Property. 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: ajk R. WALTER R DUFF a(09 iDy. DEBBIE S DUFF WALTER R DUFF Wyoming Mortgage WY/ 3VER1306C2000000000000005D0000005En9 Initials Ala/9 e1996 Bankers Systems, Inc., St. Cloud, MN Page 5 7 Ob68 C 523 ACKNOWLEDGMENT. (Individual) 5-1111T OF LU 'DT i1&& rwry OF LI &)(4.1V ss. This instrument was acknowledged before me this 3S day of OCTDIfY,r— 07000 by WALTER R DUFF, and DEBBIE S DUFF. My commission expires: (Seal) WALTER R DUFF Wyoming Mortgage WY /3VER13C ^1000000005D0000005En9 STACY A. VVEFiNER Notary Public State of Wyoming County of Lincoln My Commission E Tres 11/16/2003 5 u r.�- a APANL-e-A.) (Not Public) 1996 B terns, Inc., St. Cloud, MN Initials Page 6 IJ