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HomeMy WebLinkAbout866630(y Jo L abed) 00'000'09$ 3O JNCl.ON1 EHL NI 00 /ZZ /9 =VG SION A2IOSSThDId (•ala `samp t'lunlvw 'saint ;salami sjunoum alou 'sazuvu s.antouoq sv tons swan apnpui no,f ivgj pajsa88ns si n ntotaq map aril 8upuaiajar uati •suotinitisgns .zo suotigo `spmauaz `suoisualxa zpgl IIg pug mopq paquosap igap jo aouapina zatjlo z0 (s)/Clugzgn2 `(s)pgz1uoo '(s)alou £iossiuzozd IF Jo suuai aqi Japan paunaui 1gaa °v :SMOTIOJ su paugap Si „1gau paznaas„ 1 au SHONvAQv HUIf11113 QNV .Laaa QHDIf10HS 'b luautnulsui /Ciunoas stgi ut pauigluoo siuguanoo am 3o Aug uuojzad of pug Alunoas s,zapua-i loaload o1 luauzntlsui ,ilunaas sup 3o suuai aril zapun apt!' 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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 Bar'. Inc., St. Cloud, MN 11 -800- 397 -2341) Form RE- MTG -WY. °ten'^^ (page 2 of 4) (1• 10 E aged) V6/8 l/ l l AM w+od (l4£Z 1.1 NW 'Pna10 7S 'swelsA$ sieves 4661® .to puma lou Hugs Ied?ouud of spaaooid jo uot3Botiddg Rud •uotldo s, .Iapual le `anp uatp 3011 10 zaglagm `1gar pa.Inoas am of .Io Auadotd 0141 jo I?edal JO uotlg .Iolsal 0141 of pauddp aq IIBgs spaaoo .Id aotre .Insul iin Tu?luM u? paal& as?Miaglo ssaiun Jo2ESuoyq /Cialr ?patutut apntU iou II ssoi jo Iooid a 31rtu /CgU1 npuaZ °.Iapua-i pug .Iau1go aoueinsu? atlI 03 aotlou ale ?pauzuz? ant$ Bugs 1o2u$poysi `ssoi uodn •saopou igtaua1 pug stun?uuazd ptud jo sldtaoa.I iIg IapuaJ of an?2 Alaletpatucui hugs 1o2g4lohl `sa.1mba1 1apua'I 31 •sieMaua1 pug satot?od agf ping o1 11.141 0141 anrg lugs 1apuaa °aotreznsu? att3 to U0t3EU?uuai 10 uoprllaoueo 3o iapua-i Xlpou Siaigmpatucu? 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ImElap u? aq IIIm 10 B 11ow •anp uagM luatuAgd a3JEtu o1 sngl igaQ pampas am uo pa3e2 ?lqo AuEd Cue I? imElap u? aq 'um 1o2E5uoN •,L'Tavaaa °luatudoianap 1ILitl pauuEld .IO tun?u?uuopuoo aqf to suo?1E?nga1 10 `SMni -Aq `s3uguanoo am .Iapun sa ?Inp s,1o2auow to llp =pad IIIm 1ogE4loysI `luatudoianap 11110 pauUEid E JO tuntunuopuon E ut 1TUn E sapnpu? Af1ado1d 0 141 m •Ptogasrai E uo s? luaultulsui Allmon sIm 3I asEai iiuE to suo ?s?noId aqf 14fUM SIduuoo 01 SaaaE 1O2E31101 S.LmaiuoiaAHQ JJNf1 QaNNv'Id !SLNRINITAIOQNOD iSQZOHHSvai 'ZI 09950 'LT °£i (Signature) (Individual) 086630 613 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 si ning below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any attachmei Mortgage also acknowledges receipt of a copy of this Security Instrument grrthe date sta on page 1. ©1994 Ban s; Inc., St. This instrument was acknowledged before me this ....?.13P day of by ED.. ERSQN. ?..,T.4S#1. NTk P....&.a My commission expires: p (Seal) ACKNOWLEDGMENT: STATE OF .TIPP.I NQ COUNTY OF L 4p ss. ?QQO LAN E P. R IN N PUBLIC COUNTY OF STATE OF LINCOLN WYOMING w rnll�llleclnld CYPU FS v 1! u ef 7x' a (Notary Public) 6 22-Ov (Date) ..777. (page 4 of 4) (17 Jo (i abed) (a1EQ) dmoN) 46 /8L /tL AM (L4£Z L6£ NIAl 'Pn010 3S OuI•sweisAS sieves 4661® (pas) r)�j 2 :sandxa uoissnutuoo AIN 3o- ,iEP del sp l am azojaq pagpalmoure seen luaunulsut spu, aTMI 30 A.LNflOO :S311IdX3 NOISSIINY100 NN N100N11 dO A1.N(100 N ONTWOM 30 aLVIS ((enP)A!Put) UNKI1I` IIH MON}I0d I aSed uo pains alep alp uo luaunulsul lilunoas stgl jo Adoo E jo ldtaoaz sa2pajmouxoe osjE zo2E5pojAi •sluauzgoelle Aue m pue luaunulsuj Alunoas slip m paureluoo slueuanoo puE suual aql of saaae zo;Iapoj `nnopq 2upaIs iig :gall .LtNDE dp VS t)8bbtJ0 11;91 SOUTHWEST TITLE CO. Fax :1 30?- 877 -%C12 ALTA COMMITMENT 1982 WY SCHEDULE C :un 16 '00 14:3:3 P. 1E%16 614 Conunitment No.: FA 7003 0 The land referred to in this cornum ent is situated in the State of Wyoming, County of Lincoln, and is described as follows: That part of the SWA Ey of Section 33, T32N R9' of the 6th P.M., Lincoln County, Wyoming being part of that tract of recorded in the Office of the Clark ..•cif Linc. 1n Coenty in Book 56PR on page 172, described as follows: COMMENCING at the Southeast corner of the said SW4NE found, as described in the Certified Lana Corner Recordation. Certificate file in said Office; thence N 00 160.90 feet along the East line of sa .d SW to a 3/5" x 12° :pike; thence 8 •59 W, 32.77 feet to an interseceion. with the center line of the Crow Creek County Road No. 12 -141, the SPIKE OF ?,EGWNING thence continuing S 89c29.4 lei, 30.00 feet to a point on the West right -ci:- ay line of said County Road No. 12 -141; thence continuing S 85F29.4' W, 336.33 feet elong an existing fence to a pcirxt; thence N 00 °00.6' E, 542.29 feet to a point on the Seth line of that tract of recced in the said Office in Book 294PR on page 325; thence N 39 °46.8' S', 323.68 feet along said South Line,, in part, and along the South line of that tract of record in the said Office in Book 291PR on page 235 to a point on the West right of -way line of said County Road No. 12 -141; thence N 69°46.8' E, 30. feet along the said South line to an inte',secticn with the Centerline of said County Road. No. 12 -141, marked by 3/8n x 12n steel spike; thence Southeasterly along said centerline along the arc of a eon tangent circular curve to the r.ieht, 131.36 feet through e central anger. of 4 °50.7' with a radius of 1553.29 fear to z+ 3. a: 12" steel spike; hence S 00° E, 409.30 feet along said centerline rc the SPIKE OF BEGINNING.