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HomeMy WebLinkAbout866405J Loan Number: 3064336101 Dated Recording Requested by: WHEN RECORDED MAIL TO: FEDERAL LAND BANK ASSOCI UTAH, FLCA BOX 95850 SOUTH JORDAN UT 84095 -0 Maturity BEL 0 SEE Face Amount ASN1324 (8 -92) Real Estate Mortgage Eastern Idaho (Page 1 of 5) Op .f51 7 BOOK:: PR PAGE_ t g9.ge F N'. ftAiE.S E MORTGAGE Dated 66405 Maturity RECEIVED LINCOLN COUNTY CU! 00 JUN 114 P11 2:13 JEAN RER. WYOMING THIS MORTGAGE is made this 15th day of MAY, 2000 between R L JOHNSON PROPERTIES, L.L.C., a Utah Limited Liability Company hereinafter called "Mortgagor and FEDERAL LAND BANK ASSOCIATION OF UTAH, FLCA 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): Face Amount MAY 15, 2000 01/01/20 $266,732.00 (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 Mortgag'or'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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'9 '1 :SgJ f y 2IODVO1 1OW `EDV0I11O1 J SIH.L AO 1C.LRIf10gS 1H1 ID31OIId 01 'd 4iNtiotikikcl 157 "Contaminants have been, are being or will be generated, manufactured, produced, stored, disposed of, discharged, released 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 laws, 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. ASN 1324 (8 -92) Real Estate Mortgage Eastern Idaho (Page 3 of 5) (S 3o y aged) oyepI wa;seg 32e2uoN alg ;sg iEa i (Z6-8) i'z u SV •aai;ou gons of luunsind auop os AUE a1Ep!enul to rapunalaq ;intJap 3o Gat ;ou .to 11nepap AiE anlem ao Gana ;ou Keys `P1esa1oJs se pomp assaial .Jo uoptoHddE ay; put `A.padoad ay; 01 a2twep .ro 3o Suplsl Sus ao3 spasms 10 uol ;esuadwoo 10 `saroiiod aousansu! aatlo put a.g jo spaaoold a4; uo `slgoad pus sass! 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C COUNTY OF o do On this IA day of J y it 20 before me, the undersigned Notary Public in and for said County and State, personally appeared ROBERT M. JOHNSON and LARUE E. JOHNSON personally known to me] [(:roved to me on the basis of satisfactory evidence] to be the person(s) who executed the within instrument as MEMBERS of the Limited Liability Company therein named, on behalf of the Limited Liability Company, and acknowledged to me that the Limited Liability Company executed it. otary Public in and for said my and State T9T 1181HX3 rd sap 6661 I!JdV E l '6661. t PleW Z l •pasha, se 6661 yDJeW Z 1 Patel) 'HHVln `A1Nf1OJ I-0I11 382! NE 11 EE NOIIJ3S ONV DNIWOAM 'A1NflOJ' N1OJN11 MOZtIl NIZ. St '01 '6 'b 'E SNOIIJ3S ONV LE 1JV4 MOZ1 J NM b£ `EE '8Z 'LZ SNOLLD3S ONV Zt '11' '6C 'BE 'LE S1JV2ll NIHlIM ONV1 30 S3HJNV21 NOSNHOF /JOA A3ANf1S AO 1Vldli :pail!1 ao!JJO p!es u! pa!!J aq of le!d ayl tIl!M aDuepioaxe u! !fie 'LZ uotpaS u! 91 101 p!es Jo JaW0D lseaylnos ayl yl!M leolluap! NZZl p!es Jo Zb pulp E •oN Jawoj pue 9 10l p!es Jo JaUJOD lseaypou ay yl!M !eo!luap! ©E peJ1 p!es Jo 9 •oN JawoJ uaaMlaq au!! a Jo 15ZM palenl!s 2u!aq pue Pupil 'Su!woAM 'AlunoJ u!oou!l 'MOZ 121 'NZZl '8E 1 Jo tied 1e :mono; se pagpOsap paled OueyDx3 uosuyo( w yagoj ayl ONV '1 7 E uo!paS Jo 91 101 Jo 1/1 N ay1 pue 9 l01- 'EE uo!pas Jo gun Jo 1/1 N at!) pue L 1 uo!paS J0 SZ 101 pile 91 101 l3Z uo!pa Jo 01 101 pUe 8 10l 'O -t S Pea 'J loei1 '8 peJ1 'V- 7S peJ1 :2wwoAM AlunoJ u!oou!1 'MOZ 0.1 'NZZI u! Inlet paq!JDsap 2u!M0110J aq1 JNIWOAM NI ONVI NOSNHOf 'W MOON 3H1 AO NOI1dfNJS30 ASN 1348 (5/00) Water Rider to Mortgage WATER RIDER TO MORTGAGE 162 This Water Rider to Mortgage "Rider is made MAY 15, 2000, and is incorporated into and shall be deemed to amend and supplement the Mortgage of the same date given by the undersigned "Borrower to secure Borrower's promissory note(s) to R L JOHNSON PROPERTIES, L.L.C., a Utah Limited Liability Company; ROBERT M. JOHNSON; and LARUE E. JOHNSON. A. The "Property" described in the attached Mortgage includes all right, title, and interest at any time of Mortgagor (or any of its bailees, agents, or instrumentalities), whether now existing or hereafter arising or acquired, whether direct or indirect, whether owned legally, of record, equitably or beneficially, whether constituting real or personal property (or subject to any other characterizations), whether created or authorized under existing or future laws or regulations, and however arising in, including without limitation, the following, which shall collectively be called "Water Assets 1. All water (including any water inventory in storage), water rights and entitlements, other rights to water and other rights to receive water or water rights of every kind or nature whatsoever including (i) the groundwater on, under, pumped from or otherwise available to the Property, whether as the result of groundwater rights, contractual rights or otherwise, (ii) Mortgagor's right to remove and extract any such groundwater including any permits, rights or licenses granted by any governmental authority or agency or any rights granted or created by any use, easements, covenant, agreement or contract with any person or entity, (iii) any rights to which the Property is entitled with respect to surface water, whether such right is appropriative, riparian, prescriptive, decreed or otherwise and whether or not pursuant to permit or other governmental authorization, or the right to store any such water, (iv) any water, water right, water allocation, distribution right, delivery right, water storage right, or other water related entitlement appurtenant or otherwise applicable to the Property by virtue of the Property being situated within the boundaries of any district, agency, or other governmental entity or within the boundaries of any private water company, mutual water company, or other non governmental entity; 2. All stock, interest or rights (including any water allocations, voting or decision rights) in any entity, together with any and all rights from any entity or other person to acquire, receive, exchange, sell, lease, or otherwise transfer any water or other Water Assets, to store, deposit or otherwise create water credits in a water bank or similar or other arrangement for allocating water, to transport or deliver water, or otherwise to deal with any Water Asset; 3. All licenses, permits, approvals, contracts decrees, rights and interest to acquire or appropriate any water or other Water Assets, water bank or other credits evidencing any right to water or other Water Assets, to store, carry, transport or deliver water or other Water Assets, to sell, lease, exchange, or otherwise transfer any water or other Water Asset, or to change the point for diversion of water, the location of any water or Water Asset, the place of use of any water or Water Asset, or the purpose of the use of any water or Water Asset; 4. All rights, claims, causes of action, judgments, awards, and other judicial, arbiter or administrative relief in any way relating to any water or Water Asset; 5. All storage and treatment rights for any water or any other Water Asset, whether on or off the Property or other property of Mortgagor, together with all storage tanks, and other equipment used or usable in connection with such storage and any water bank deposit credits, deposit accounts or other rights arising on account of the storage or nonuse of any water or any water or any other Water Asset; 6. All rights to transport, carry, allocate or otherwise deliver water or other Water Assets by any means wherever located; 7. All guaranties, warranties, marketing, management or service contracts, indemnity agreements, and water right agreements, other water related contracts and water reallocation rights, all insurance policies regarding or relating to any Water Asset; 8. All rents, issues, profits, proceeds and other accounts, instruments, chattel paper, contract rights, general intangibles, deposit accounts, and other rights to payment arising from or on account of any use, nonuse, sale, lease, transfer or other disposition of any Water Asset. B. To the extent that any Water Asset constitutes personal property, this Mortgage shall also be deemed to be a security agreement creating a security interest in all of such personal property and granting to Beneficiary all of the rights and remedies of a secured party under the Uniform Commercial Code and other applicable state law. 163 C. Absolute Assignment of All Revenue From Water Assets Mortgagor hereby absolutely and unconditionally assigns to Beneficiary all proceeds, rents, issues and profits from any use (apart from watering plants on the Property or other ordinary use on the Property), nonuse, sale, lease, transfer or disposition of any kind of any water or any other Water Asset subject to a lien in favor of Beneficiary. That assignment shall be perfected automatically without appointment of a receiver or Beneficiary becoming a mortgagee in possession and Beneficiary shall have the right, before or after the occurrence of any default or event of default, to notify any account debtor to pay all amounts owing with respect to those proceeds, rents, issues and profits directly to Beneficiary. Except as otherwise agreed in writing by Beneficiary, Beneficiary may apply any such collection (and any rents, issues, profits and proceeds to any indebtedness owed to Beneficiary in any order, priority or manner desired by Beneficiary. D. Reference to "water" and "water rights" are used herein in the broadest and most comprehensive sense of the term(s). The term "water" includes water rights and right to water or whatever rights to money, proceeds, property or other benefits are exchanged or received for or on account of any Water Assets or any conservation or other nonuse of water, including whatever rights are achieved by depositing one's shares of any Water Assets in any water bank or with any water authority, or any other water reallocation rights. By signing below, Borrower accepts and agrees, as of the date first written above, to the terms and covenants contained in this Rider. R L JOHNSON PROPERTIES, L.L.C., a Utah LimiteO.- 3tiabil i By: ROBERT M. JOHNSON, M ber By u LARUE E. JOHNSON, Member ASN 1348 (5/00) Water Rider to Mortgage thk-t-viik