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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 existing now or executed after this Mortgage
whether or not this Mortgage is specifically referred to in the evidence of debt.
C. All obligations Mortgagor owes to Lender, which now exist or 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
Mortgage, plus interest at the highest rate in effect, from time to time, as provided in the Evidence of Debt.
E. Mortgagor's performance under the terms of any instrument evidencing a debt by Mortgagor to Lender and any
Mortgage securing, guarantying, or otherwise relating to the debt.
If more than one person signs this Mortgage as Mortgagor, each Mortgagor agrees that this Mortgage will secure all future
advances and future obligations described above that are given' to or incurred by any one or more Mortgagor, or any one or
more Mortgagor and others. This Mortgage will not secure any other debt if Lender fails, with respect to such other debt,
to make any required disclosure about this Mortgage or if Lender fails to give any required notice of the right of
rescission.
5. PAYMENTS. Mortgagor agrees to make all payments on the Secured Debt when due and in accordance with the terms of
the Evidence of Debt or this Mortgage.
6. 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 Mortgage. Mortgagor agrees to assign to Lender,
as requested by Lender, any rights, claims or defenses which Mortgagor may have against parties who supply labor or
materials to improve or maintain the Property.
7. 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 and that may have priority over this
Mortgage, 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 make or permit any modification or extension of, and not to request or accept any future advances under any
note or agreement secured by, the other mortgage, deed of trust or security agreement unless Lender consents in
writing.
S. 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 any lien, encumbrance, transfer, or sale, or contract for any of these on
the Property. However, if the Property includes Mortgagor's residence, this section shall be subject to the restrictions
imposed by federal law (12 C.F.R. 591), as applicable. For the purposes of this section, the term "Property" also includes
any interest to all or any part of the Property. This covenant shall run with the Property and shall remain in effect until the
Secured Debt is paid in full and this Mortgage is released.
9. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an entity other than a natural person (such
as a corporation or other organization), Lender may demand immediate payment if (1) a beneficial interest in Mortgagor is
sold or transferred; (2) there is a change in either the identity or number of members of a partnership or similar entity; or
(3) there is a change in ownership of more than 25 percent of the voting stock of a corporation or similar entity. However,
Lender may not demand payment in the above situations if it is prohibited by law as of the date of this Mortgage.
10. ENTITY WARRANTIES AND REPRESENTATIONS. If Mortgagor is an entity other than a natural person (such as a
corporation or other organization), Mortgagor makes to Lender the following warranties and representations which shall be
continuing as long as the Secured Debt remains outstanding:
A. Mortgagor is an entity which is duly organized and validly existing in the Mortgagor's state of incorporation (or
organization). Mortgagor is in good standing in all states in which Mortgagor transacts business. Mortgagor has the
power and authority to own the Property and to carry on its business as now being conducted and, as applicable, is
qualified to do so in each state in which Mortgagor operates.
B. The execution, delivery and performance of this Mortgage by Mortgagor and the obligation evidenced by the
Evidence of Debt are within the power of Mortgagor, have been duly authorized, have received all necessary
governmental approval, and will not violate any provision of law, or order of court or governmental agency.
C. Other than disclosed in writing Mortgagor has not changed its name within the last ten years and has not used any
other trade or fictitious name.. Without Lender's prior written consent, Mortgagor does not and will not use any
other name and will preserve its existing name, trade names and franchises until the Secured Debt is satisfied.
11. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition
and make all repairs that are reasonably necessary. Mortgagor will give Lender prompt notice of any loss or damage to the
Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor will not initiate, join in or
consent to any change in any private restrictive covenant, zoning ordinance or other public or private restriction limiting or
defining the use which may be made of the Property or any part of the Property, without Lender's prior written consent.
Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor or any other owner
made under law or regulation regarding use, ownership and occupancy of the Property. Mortgagor will comply with all
legal requirements and restrictions, whether public or private, with respect to the use of the Property. Mortgagor also
agrees that the nature of the occupancy and use will not change without Lender's prior written consent.
No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent
except that Mortgagor has the right to remove items of personal property comprising a part of the Property that become
worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value to
the replaced personal property, free from any title retention device, security agreement or other encumbrance. Such
replacement of personal property will be deemed subject to the security interest created by this Mortgage. Mortgagor shall
1993 Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form AG /CO- MTG -WY 10/25/93
444
(page 2 of 6)
(9JoEefed)
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G. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible land or to the
conversion of wetlands to produce an agricultural commodity, as further explained in 7 C.F.R. Part 1940, Subpart
G, Exhibit M.
16. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide Mortgagor with
notice of the right to cure, mediation notices 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 Mortgage in a manner
provided by law if this 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 Evidence of Debt, other evidences
of debt, this Mortgage 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 expressly set forth or not. 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 full and 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.
17. 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 Mortgage.
Mortgagor will also pay on demand all of Lender's expenses incurred in collecting, insuring, preserving or protecting the
Property or in any inventories, audits, inspections or other examination by Lender in respect to the Property. Mortgagor
agrees to pay all costs and expenses incurred by Lender in enforcing or protecting Lender's rights and remedies under this
Mortgage, including, but not limited to, attorneys' fees, court costs, and other legal expenses. Once the Secured Debt is
fully and finally paid, Lender agrees to release this Mortgage and Mortgagor agrees to pay for any recordation costs. All
such amounts are due on demand and will bear interest from the time of the advance at the highest rate in effect, from time
to time, as provided in the Evidence of Debt and as permitted by law.
18. 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.), 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, except as previously disclosed and acknowledged in writing:
A. No Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or handled by
any person on, under or about the Property, except in the ordinary course of business and in strict compliance with
all applicable Environmental Law.
B. Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the
Property.
C. Mortgagor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance occurs on,
under or about the Property or migrates or threatens to migrate from nearby property; or (2) there is a violation of
any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial
action in accordance with Environmental Law.
D. Mortgagor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, or
proceeding of any kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) any
violation by Mortgagor or any tenant of any Environmental Law. Mortgagor will immediately notify Lender in
writing as soon as Mortgagor has reason to believe there is any such pending or threatened investigation, claim, or
proceeding. In such an event, Lender has the right, but not the obligation, to participate in any such proceeding
including the right to receive copies of any documents relating to such proceedings.
E. Mortgagor and every tenant have been, are and shall remain in full compliance with any applicable Environmental
Law.
F. There are no underground storage tanks, private dumps or open wells located on or under the Property and no such
tank, dump or well will be added unless Lender first consents in writing.
G. Mortgagor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm
that all permits, licenses or approvals required by any applicable Environmental Law are obtained and complied
with.
H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property
and review all records at any reasonable time to determine (1) the existence, location and nature of any Hazardous
Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any Hazardous
Substance that has been released on, under or about the Property; or (3) whether or not Mortgagor and any tenant
are in compliance with applicable Environmental Law.
I. Upon Lender's request and at any time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified
environmental engineer to prepare an environmental audit of the Property and to submit the results of such audit to
Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's approval.
J. Lender has the right, but not the obligation, to perform any of Mortgagor's obligations under this section at
Mortgagor's expense.
K. As a consequence of any breach of any representation, warranty or promise made in this section, (1) Mortgagor
will indemnify and hold Lender and Lender's successors or assigns harmless from and against all losses, claims,
demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses, including without
limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain;
and (2) at Lender's discretion, Lender may release this Mortgage and in return Mortgagor will provide Lender with
collateral of at least equal value to the Property secured by this Mortgage without prejudice to any of Lender's
rights under this Mortgage.
®1993 Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form AG /CO- MTG -WY 10/25/93
(page 4 of 6)
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include the plural and the plural the singular. The captions and headings of the sections of this Mortgage are for
convenience only and are not to be used to interpret or define the terms of this Mortgage. Time is of the essence in this
Mortgage.
25. 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 Mortgage, or to any other address designated in writing. Notice to one
mortgagor will be deemed to be notice to all mortgagors.
26. 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.
27. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Mortgage:
Construction Loan. This Mortgage 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.
Crops; Timber; Minerals; Rents, Issues, and Profits. Mortgagor grants to Lender a security interest in all crops,
timber and minerals located on the Property as well as all rents, issues, and profits of them including, but not
limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and similar
governmental programs (all of which shall also be included in the term "Property
Personal Property. Mortgagor grants to Lender a security interest in all personal property located on or connected
with the Property. This security interest includes all farm products, inventory, equipment, accounts, documents,
instruments, chattel paper, general intangibles, and all other items of personal property Mortgagor owns now or in
the future and that are used or useful in the construction, ownership, operation, management, or maintenance of the
Property. The term "personal property" specifically excludes that property described as "household goods" secured
in connection with a "consumer" loan as those terms are defined in applicable federal regulations governing unfair
and deceptive credit practices.
Filing As Financing Statement. Mortgagor agrees and acknowledges that this Mortgage also suffices as a
financing statement and as such, may be filed of record as a financing statement for purposes of Article 9 of the
Uniform Commercial Code. A carbon, photographic, image or other reproduction of this Mortgage is sufficient as
a financing statement.
28. OTHER TERMS. If checked, the following are applicable to this Mortgage:
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 Mortgage will remain in effect until released.
Additional Terms.
SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Mortgage and in any
attachments. Mortgagor also acknowledges receipt of a copy of this Mortgage on the date stated above on Page 1.
Actual authority was granted to the parties signing below by resolution signed and dated
(Individual)
Entity Name: DAVID H. LLOYD
A MARRIED PERSON
(Signature)
(Signature)
My commission expires:
(Seal)
x. 7.4.: c
(Date) (Sijitature)
(Date) (Signature)
STATE OF M Commission Ex October 12 200u
C OUNTY OF
This instrument was acknowledged before me this
by
®1993 Bankers Systems, Inc., St. Cloud, MN (1- 800 397 -2341) Form AG /C0- MTG -WY 10/25/93
Entity Name: BETi'Y J LLOYD
(Notary Public)
44
(Date)
(Date)
Refer to the Addendum which is attached and incorporated herein for additional Mortgagors, signatures and acknowledgments.
ACKNOWLEDGMENT:
STATE OF WYOMING COUNTY OF LINCOLN ss.
This instrument was acknowledged before me this 16TH da
b DAVID H. LLOYD AND BETTY J. LUJYD, HUSBAND
My commission a t Ste ROD R. JENSEN NOTARY PUBLIC
(Seal) County Of r f�r State t!
Linnoln Pa.: Wyom?
ss.
day of
(Business
or Entity
Acknowledgment) of (Title(s))
(Name of Business or Entity)
a on behalf of the business or entity.
(page 6 of 6)