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HomeMy WebLinkAbout8673561. DATE AND PARTIES. The date of this Mortgage (Security Instrument) is parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: DR. LEONARD WILFORD A MARRIED PERSON PO BOX 1216 AFTON, WY 83110 LENDER: LOT 4 BLOCK 13 867356 (Address) rD RECEIVED JNCOL": 1.1 00 AUG -t+ AP' 10: 14 6 •,Q J E A N iii E WAGNER. 8 QQKti._.. 4 `apk PAGE 6 2,6 KEMMERER. WYOMING LORI W. WILFORD A MARRIED PERSON PO BOX 1216 AFT N, WY 83110 JULY 18, 2000 THE BANK OF STAR VALLEY ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF WYOMING P.O. BOX 8007 384 WASHINGTON AFIC)N, WY 83110 rJ State of Wyoming Space Above This Line For Recording Data MORTGAGE (With Future Advance Clause) and the If checked, refer to the attached Addendum incorporated herein, for additional Mortgagors, their signatures and acknowledgments. 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: BEGINNING AT A POINT WHICH IS 8 1/4 RODS WEST FROM THE SE CORNER OF LOT 4, IN BLOCK 13 OF THE AFTON, LINCOLN COUNTY WYOMING TOWNSITE, THENCE NORTH 10 RODS, THENCE WEST 8 3/4 RODS, THENCE SOUTH 10 RODS, THENCE EAST 8 3/4 RODS, TO THE POINT OF BEGINNING. LORI W. WILFORD HEREBY EXECUTES THIS MORTGAGE FOR THE PURPOSE OF WAIVING AND RELEASING ALL RIGHTS UNDER AND BY VIRTUE OF THE HOMESTEAD EXEMPTION LAWS OF THE STATE OF WYOMING. The property is located in LINCOLN at (County) AFTON Wyoming 83110 (City) (ZIP Code) 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 33 113.00 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.) PROMISSORY NOTE DATED 7/18/00 IN THE AMOUNT OF $33,113.00 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 0367356 627 B. All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender under any promissory note, contract, guaranty, or other evidence of debt executed by Mortgagor in favor of Lender executed after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security Instrument, each Mortgagor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligations Mortgagor owes to Lender, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. D. All additional sums advanced and expenses incurred by Lender for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of this Security Instrument. This Security Instrument will not secure any other debt if Lender fails to give any required notice of the right of rescission. 5. PAYMENTS. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. 6. 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. 7. 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. 8. DUE ON SALE OR ENCUMBRANCE. 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 lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds 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. Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall 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 shall 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 irrevocably grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in and to any and all existing or future leases, subleases, 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 and rents, issues and profits (all referred to as "Rents 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 Debt is 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 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. ©1994 Bankers Systems, Inc., St. Cloud, MN (1-800-397-2341) Form RE- MTG -WY 11/18/94 (page 2 of 4) Jogabed) 95:1.9€0 46181/1 L AM D101 wiul (1.4EZ NW 'PnalO 'ls "out 'swalsAS smuee 4661® .io puma lou lrsls lgdpuud o1 spaaooid jo uollgogddu Anti uocldo s,lapua'I lg `anp tap iou 10 lapagm `1gau pamoas alp of to Auadold am jo iludallo uotiglolsal ap of patrddg aq liggs spaaoold aouulnsuc !!u `2ullt1M u! paaigu astMZaglo ssapn •1oVESuoj Aq Aialgtpatut aputl iou 3! sso! jo 3oond algtu Agtu lapua'l •lapuol pus 1au.reo aouglnsut Op O3 aollou alutpaunut ant$ !rugs 1o2g2uoyi `ssor uodn •saotlou iusauai put sumttuazd p!sd jo sidcaoal !iu lapual of am2 Aiampaunut jugs 1o2n21Joj `sannbal lapua'! 3i •sisMaua.I pus satotiod all pio14 of ltgw ap angg !rugs lapua'! •aouslnsut am 3o uoilguttulal .to uotfelpougo 3o lapua'I A3nou Aiafslpaulul! urgs lo2g2uoysi „•asngp aaAgd sso!„ `aiquoliddg aiagm `pus „asngp o2r4totu„ p.repuels s apnput imp pus lapua'i 01 alggldaoog aq imp swmaual pug saptlod aouglnsut i!y •luaurtulsui Animas S! 13o suwal a141 01 SUlpl000g Auadold am u! sui2p s,lapua-i loalold of aSglaA00 utslgo `uocldo s,lapua1 lu 'Am lapua'I `anogt' pagtzosap a2s.10A03 aril utgluretu of s!!s3 loh21loy4j 3I •Piagplm ,Cigsuoseaiun aq lot ins tpttiM `lenolddg S,1apua'i 01 loolgns Jo2g3pow Aq U S0tio aq huts aouelnsuc am Sulpmnold lalllgo aotresnsuc aty •sannbal mapua'i tep spouad atil lo3 pus slunoure aril ut paulglutsut aq hugs aouelnsul slti, •uolsooi pus adA1 51! of anp Auadold aril p!M palsloosss Argquossal s3istl pus spsszeti lap° pus 13ap `pool; `alts Rq ssoi lsureag palnsut Auadold daal !rugs loSe2uoyj •g;)AIy2InS'RII ivatunoop tall Jaglo 10 luaulaal$g Animas `lucid 3o paap `aSgmuoul .toad Aug 3o suulal am of loaCgns st spaaoold Jo 1Uatuu2tssg s!tli, •luatunalsui A1Tmoas Sip ut paptnold sg paiiddd aq !pm pus sluauxAsd paloptsuoo aq !ruts spaaoold tons •Auadold am 3o lint Aug 10 its 3o 2upwl 101410 10 uollguulapuoo g p!M paloatluoo so sm p 1o3 ungp 10 p1gmg Aug 3o spaaoold am lapuai 01 sufftssg Joft21Joyq •stucgp 10 Suotfog pagilosap anogs atl 3o Aug u! aureu s,lo2r2uoJA u! auaAlaluc of lapua'i sazllopng 10 110JA •sueouI lalo Aug 10 `uisutop mamma `uotlg1 U10puoo g2no1141 Auadold am 3o !ig 10 Aug 031E1 10 assgoind of saticlua oiignd 10 alenl.zd Aq `uotlos paualgalp 10 Butpuad Aug 3o aollou ldWold lapua'I ants !!!M 1ohhu0JAI •AIOILVM\IacI NOD •Mg1 Isfuaunlonnug Aug 3o uopsiotn 0141 10 03us2SgfS snoplszgH Aug 3o assapl paualgalp 10 0550101 am 01 RU!ls101 2utpaaooid 10 `tulslo 'uollg2psanu! paualgalp 10 $utpuad Aug s! a10141 anaclaq of uosual Sg14 10 1 11oN sg uoos Sg &ut1t1M u! aapua'i A3!fou AialglpatuUI! lists 10 2.I0J4 •Q •Mg'! lglu0tuuonnug Aug trl!M aougpl000g u! uotlog !gtpama' A1gSS030U i!g WTI I1s14 Jo2r2uoysi luana Ug tons ui •Alladold 0142 2ululaouoo Ms'I lsluauluonnug Acre 3o uop$IOln g st 010141 10 Auadold a141 hogs 10 iopun '110 S111330 00ug1sgfS SnoplgZeH g 3o asgapi pauatgalp 10 asuaial g 3c lapua-i Ajpou A1afglpatutuc pegs 1013110N D r1luauIUOltnug aiggotlddg Aug tuM aotrelydtuoo lln3 ut utstual huts pug 'OM `uaaq 0AS14 1UEU01 AIana pug 10 Th 110JAI `lapua'i of 2utl!1M u! pa2paJMOU)los pug pasopstp AIsn0!A01d SE ldaoxg •g •Auadold at13o aougualuIstl pus asn lguwOU 0111 103 algildolddg aq of paz!U2ooal AIIEJ0UO3 0113 1gp saouglsgns snop.reZRH 3o sallllugnb !!eats 01 Alddg lot saop uolloptsal slgy •Alladold all u! so uo passapl 10 palols `palsool aq Him 10 s! 00U11sgfS SnopszgH ou `10p101 01 2ull!M u! pop alMOUpg pus pasopstp Alsnocna1d sg ldaoxg y :113141 saal2g pus SIUgln?M `sluasaldal 101310 i luaumllSUi Antlnoas sl41 3! assa! 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Auadold ap 3o anlgn otp 10 1110111AEd Aug 3o loadsold am 11341 igaa p011100S ap uo palallgo Al!1U0 1O uoslad Aug 02 loadsal p!M amo0su! s! amp Aug lg lapua1 lgtl lapua1 Aq 3a!!aq tilre3 pool y •igau Palmas am 2upiluslsn2 10 2ucmoas '2utlga10 3o asodlnd a141 103 palno0xa IUatunoop 10420 Aug 10 luatunl2SUJ Altlnoas s!p 3o suual am lapun sm000 'maxi g J! fingJap u! aq i1!M 10 132uoN •anp ua4M luauuAsd a)r11U Ol 5!1133 1gaa pamoaS 0141 uo p0 Mtlgo And Aug 3! lingjap u! aq i1!M 10 1321loN •ygnydaa •luautdolanap stun pauu1id 10 ulnlulutopuoo 041 3o suopeinSal 10 `sM1! -Aq `siuguanoo oq iopun saclnp s,loilauojAI 3o 1113 tuio31ad !pm 105g2110J `luatudo1anap nun pauusrd s 10 Tzntululopuoo g u! !tun g sapnpul Allado1d all 3I •P104assal s uo s! '£I all 141! Aiduuoo of saal2g io$s$11oysi •SINIRI IdO'IaAaa llNIfl (I NNV'Id !SL\IIIINII tOQNOD !SQ'IOHaSyd'I 'ZI (Individual) DR. LEONARD WILFO ©1994 Bankers Systems, Inc., St. Cloud, MN (1- 800 397 -2341) Form RE- MTG -WY 11/18/94 0 8fi73vEi 629 postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. 19. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or information Lender may deem reasonably necessary. 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 Lender's lien status on the Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but does not sign an evidence of debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. 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. Mortgagor agrees that Lender and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 23. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 24. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any right regarding the marshalling of liens and assets and all homestead exemption rights relating to the Property. 25. OTHER TERMS. If checked, the following are applicable to this Security Instrument: Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] Condominium Rider Planned Unit Development Rider Other Additional Terms. SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. "-te7,.6 7-Ata (Date) (Signature) LORI W. WI (Date) ACKNOWLEDGMENT: STATE OF .WX4A'1NQ COUNTY OF TaTa- ss. This instrument was acknowledged before me this day of X by AR:.. LEA? ..[/?ILMMI..*I4 ?k W WIl M,.. D.. A..W k k My commission expires: (Seal) (Notary Public) (page 4 of 4)