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HomeMy WebLinkAbout867150tO BOOK_ PR PAGE__-__ 4 3 State of Wyoming 067150 MORTGAGE (With Future Advance Clause) 1. DATE AND PARTIES. The date of this Mortgage (Security Instrument) is parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: TOBE WEST, TRUSTEE OF THE TOBE AND CINDELL WEST FAMILY TRUST DATED NOVEMBER 20, 1996. 92289 HIGHWAY 89 GROVER, WY 83122 If checked, refer to the attached Addendum incorporated herein, acknowledgments. LENDER: The property is located in LINCOLN HIGHWAY 89 (Address) RECEIVED ';JNCOL..",i COUNTY CI. 00 JUL 214 lira 3 3 EMI\iii (tL- ri, /V i 01'4INlJ Space Above This Line For Recording Data CINDELL WEST, TRUSTEE OF THE TOBE AND CINDELL WEST FAMILY TRUST DATED NOVEMBER 20, 1996. 92289 HIGHWAY 89 GROVER, WY 83122 for additional Mortgagors, their signatures and THE BANK OF STAR VALLEY ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF WYOMING P 0 BOX 8007 384 WASHINGTON AMIN, WY 83110 2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the following described property: T33N R118W OF THE 6TH P.M., LINCOLN COUNTY, WYOMING SECTION 30: SE1 /4NW1 /4 AND THAT PART OF THE SW1 /4NE1 /4 LYING AND BEING WESTERLY OF U.S. HIGHWAY 89. at JULY 20, 2000 (County) GROVER Wyoming 83122 (City) (ZIP Code) and the Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, 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 above (all referred to as "Property 3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed 211,143.00 This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms of this Security Instrument to protect Lender's security and to perform any of the covenants contained in this Security Instrument. 4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.) ONE PROMISSORY NOTE DATED JULY 20, 2000 IN THE AMOUNT OF $211,143.00 WYOMING MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USE) (page 1 of 4) 01994 Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form RE- MTG -WY 11/18/94 /..2. eye?/ (j Jo? efed) 46/81/ L l Am-Djoku w,o j 1 LPEZ 1.1 N W 'Paolo '1S "Out 'sweisAS s,emue8 466 L •MSt atgeottdde pue saseart a11i jo suua3 3111 mtm Atduto0 o lireual Sue al!nbal pus urolu 01 saal8e osro 1o8g8uoy,I met lusuai/piotpuBt atgeottdde Aug 10 saseai 3111 iapun slslxa 11nepap ou imp slusuem 1o8g8uoN •ivaumilsut Alunoas sup ut paptnold se pagdde aq tttm paloanoo siunoute Auy •spun] 101110 Aug gltm small agi 0l8ulutu1o01ou iitm pue lapuart 10 1sn1f ut Mali ALM 0/110301 Item pue uotssassod s,1o2e8uoj, ul small jo luaw ed Aue lapual 01 lanitap pus aslopua !pm 1o8e21JoyAI `itnepap jo aopou 2ucntaoat uO •lapua'l 01 Sp3a1tp small 33/11/11 !ro Sed lusual Atm Tetp spusutap pus 3inejap JO 1o8e2210JA sagpou '3ua8e sl! 10 'lapual ua11M moon 01 pautaap st uotssassod mum leg! pus uopoB 78a! 8ulouaunuo3 jo Altssaoau a111 lnogllm Auadold 3111 jo uotssassod ienfot' a31e1 Aeuu lapual 10111 saw& ioge8uot^t •pajspes st 1gau palnoas alp !pun potlad uopdutapal Aue 8uunp magma ut mutual !pm luaunatsss sup legl pue `met Act paquosatd uotlos antfeuut,33e swirl lapuart uagM sallied pup of se an st luautu8tsse sup 30111 saai 1o8e811oys! •luatun11su1 Altmoas slip o1 sat31gd am uaamlaq an130a3Ia eitaletpaun"t st luautu8tsse sup legs saaw &e 1o8e8uoW •3iraum1lsut Altmoas sup Jo 5111131 3113 lapun itnejap lit 1ou st 108e821oN Se 8uot os small 3111 asn pue Aofua `an!3031 loattoa Amu 1o8e8uoJA •sasga't alnlnj pus 811115!x3 tte 3o satdoo 1001103 pus anti gltm 1apua't apinold Aildut0ld !pm 1o8e8u0w „small„ se 01 pa11aja1 tte) slt3ozd pue sans! `slual pue „saseal„ se 01 pa11aja1 Hu) sluautaal8e lions 3o suotin1jlsgns so suopEOUtpotu 'stemauat `suotsualxa Sue 8u!pnloul `Auadold am jo uotuod Aue jo Aouedn000 pus asn 3111 10j sluamaal8e raglan 10 uailum 1a1110 Atte pus `sasgatgns `sassat a1n2nj 10 8ups1xa ire pus Aug 02 pus lit maim! pus 31111 `1118t1 am Ile A11mOas teuotltppe se lapual 01 sIue11em pue sa202uout 'sAanuo0 'sup2loq 'smug Atgeoona11t 1o2e2uoj1 SaSva'I 30 ,LlslalAIt\IOISSv •uopOnllsuo0 311130 uopaidu1o0 8u!pnTOUl `Auadold 0111 lit Isamu!! 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LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Mortgagor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit development, Mortgagor will perform all of Mortgagor's duties under the covenants, by -laws, or regulations of the condominium or planned unit development. 13. DEFAULT. Mortgagor will be in default if any party obligated on the Secured Debt fails to make payment when due. Mortgagor will be in default if a breach occurs under the terms of this Security Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender at any time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value of the'Property is impaired shall also constitute an event of default. 14. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide Mortgagor with notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any related documents including, without limitation, the power to sell the Property. All remedies are distinct, cumulative and not exclusive, and the 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 Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if it continues or happens again. 15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Security Instrument. Mortgagor will also pay on demand any amount incurred by Lender for insuring, inspecting, preserving or otherwise protecting the Property and Lender's security interest. These expenses will bear interest from the date of the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender in collecting, enforcing or protecting Lender's rights and remedies under this Security Instrument. This amount may include, but is not limited to, reasonable attorneys' fees, court costs, and other legal expenses. This amount does not include attorneys' fees for a salaried employee of the Lender. This Security Instrument shall remain in effect until released. Mortgagor agrees to pay for any recordation costs of such release. 16. 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.), and 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 substances," "hazardous waste" or "hazardous 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 is or will be located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been, are, and shall remain in full compliance with any applicable Environmental Law. C. Mortgagor shall immediately notify Lender if a release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor shall take all necessary remedial action in accordance with any Environmental Law. D. Mortgagor shall immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 17. 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 shall 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. 18. INSURANCE. Mortgagor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the periods that Lemli n requires. The insurance Lar —ier p, viding the insurance shall be chosen by Mortgagor subject to Lender's approval, which shall not be unreasonably withheld. If Mortgagor fails to maintain the coverage described above, Lender limy, at Lender's option, obtain coverage to protect Lender's rights in the. Property according to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortgage clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediately by Mortgagor. Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Lender's option. Any application of proceeds to principal shall not extend or ®1994 Ban Inc., St. Cloud, MN (1-800-397-2341) Form RE- MTG -WV 11 MIN (page3of4) (fr /o y abed) ISM A'IIWV3 ZS3M Z .ss (aggn Amoi aHLS11TI `1Sa 1 vats) 46/8 l/ L L AM 0101 w,o (IbEZ Li NIN 'Paola '1s 'sweuAS smuog 46610 7v PUBLIC State of Wyoming tay Cori r e..ober 12, 2000 C; (leas) 9661 `OZ 1IHgINI34O■ G Z u :sai!dxa uoisstunuoo AIN gfl `1,8 `I'IgaR1D 'caw* S2M"aoi �q 3o ,fop "'f 0 '8 snn our aJopaq pagpaimouxou s luatuttnsul siq,I, inic=11 30 £iunoa (IsnPIAIPuI) =WM' 30 ILU,LS atslal iOQd'IMONINDV (a1E a3ZSf12IZ `IS3M 3gOZ X (ainle sus) .../7Z-<1 j aged uo pawls alep atp uo luauml ;sui /i1unaas sup jo ,fdoo g jo 1d!aoal sagpatMou1lou osp iogeguoj •sluau1gou1110 /fre u! pu102Uatunnsui /fJunaas stn)1rt paureluoo slueuanoa pup sUU1a) am 01 saal& iogeguoj, `Molaq gulugls /Cg :sauf LyNnis •s[u1 L Iguop!PPV 1ag1Q 1ap1212uaurdopn u Jura pauuepd lam tunpu!uropuoD [saxoq algeopldde lie loagj] •1uaumnilsui £tunas spgl jo suual agJ puauie pug Juauraiddns pre onn paJulodloou! are mopq paXaaga srapu ag13o gaga Jo sluauraa.rge pug slueuanoo any •srappg •apoj IsiaraururoD uuo31ua am Jo 6 apply Jo sasodlnd roj pioom jo pain aq Arm uouonpoidar Jagmo so opgdB1 ologd `uogreo rCue pile Juaura1101s gupueuu 10 su saoijjns )uaumllsui Aninoas slg •Apadord am 01 pa110ta1 sarrnxp auroaaq 'pm 10 0110 leg) pup group 0111 101 10 mop sumo 1ogegyoysl rem spoon lie ui )sala2u1 ddunaas u lapuaJ o1 Slue12 1ogegloj, 'gum aan)x13 •/Cladold alp uo 2uaulanoldun ue Jo u0pan12suoa ag210j pallnoup uoplegngo 1010 saln0as )uaumllsui Animas s!UZ •ueo7 uo1lanalsuo3 •paseapi Ixlun 1oa33a u! ureumai !pm luaumrlsul ,flpmoas spgl `aouel10q olaz a o) paonpai aq Amu dgaQ palnoas agl ggnoglly •uo!stnord Itparm Jo aupl &u!nlonar 10 sapnpup )qau parnoas auZ •npa.r) jo gun :luaum.zlsul /(;limas sup 01 alg10opldde are guyitouoj am 'papaga n 'SNRIa.L Hant0 'sz quadold 0112 o; Sup ria i s1gSu uopduraxa pualsaurog ii pre s ;asse pup suapl Jo gu!llugsrem agl &u!pirgar 114211 /foe sanBM lodg$uoN 'Ave! iq Pangpgold lua;xa and 01 ldaoxg •S'UaAIVM •srogeglouz Ile of aopJou aq o; pauraap aq 'um 1og10spour auo of aopoN •3uplum u! pa;eugpsap ssalppe laglo /Cue 02 10 `luaumllsui ,flunoas spg1 jo j aged uo ssalppe s,A ed aW!1do1dd10 0112 01 Amur sop lsrp 3q 1! guplreur Cq 10 1! guuanplap /fq uanrg aq liens a0p ;ou /fte `met /Cq parmbar asImiaglo ssairfl 'aDLLol I •luaumllsui /f)Imaas SR up aauassa ag1 JO s! aura •luaumr;sui ii)un0as sup Jo suua; and aulgap so 1a1d1a ;up o1 pasn aq od lop 0110 pre Auto aaua!uanuoa ro3 are Juaumrlsui Alunoas stn) 3o suopoas 012 3o sguupuaq pug suopdea ant •1eln2u!s and relnld 3111 pup remid ag; apnpul Huns 1elnSu!s 0112 `pasn lanauagM •luaumrlsul AdunaaS sup Jo laput10ular am Jo Alpl!guaoroJua ant daaJle mu 'pm pre paranas aq !pm uopoas imp `suua; s2p o1 su!p1o00e paaroJua aq 20uu100 luatzmllsui ,Cdunoas sup Jo uopoas Niue 31 •)uaulaarg10 uanjm /Cq suopdguen are slluuad /fipalidun .10 /flssaidxa mei legs ssatun `anploajJa aq you IHM met algeondde 0fl M slopiluoo lent Jgaa pampas am 01 pa;10la1 Juaulaarge /CUB so 'sluatunoR IR luaumllsui 1211noas st p uI uopoas dry •luauraarS10 le10 At pompom 10 papuaure aq 1010, m' nraumldsui ddunaas stgZ •pa1101sa ;u! 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