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HomeMy WebLinkAbout866160K CORDATION REQUESTED BY: PNC BANK, FSB ONE PNC PLAZA FIFTH AVENUE WOOD STREET PITTSBURGH, PA 15222 WHEN RECORDED MAIL TO: PNC BANK, FSB ATTN: COLLATERAL CONTROL 2730 LIBERTY AVENUE PITTSBURGH, PA 15222 SEND TAX NOTICES TO: MARK S MAPES and TERESA G MAPES 59 BUCKSKIN WAY ETNA, WY 83118 r r y e r a,: 9 MORTGAGE THIS MORTGAGE IS DATED MAY 12, 2000, between MARK S MAPES and TERESA G MAPES, whose address is 59 BUCKSKIN WAY, ETNA, WY 83118 (referred to below as "Grantor and PNC BANK, FSB, whose address is ONE PNC PLAZA, FIFTH AVENUE WOOD STREET, PITTSBURGH, PA 15222 (referred to below as "Lender 86.160 RECEIVED JNCOR 3 C(' 11!! T 00 H 1AI 3 I Ail JE/ -Ni`NE E 1(EMMERER. WYOMING OOK PR PAGE 34'4 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to Lender all of Grantor's right, title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, located in LINCOLN County, State of Wyoming (the "Real Property REAL ESTATE AT: 59 BUCKSKIN WAY, ETNA, WY 83118 A <A j The-Real Property or its address is commonly known as 59 BUCKSKIN WAY, ETNA, WY 83118. The Real Property tax identification number is 12- 3619 -26-1 -00-057.00. Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. DEFINITIONS. The following words shall have the following meanings when used in this Mortgage. Terms not otherwise defined in this Mortgage shall have the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in lawful money of the United States of America. Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described below in the Existing Indebtedness section of this Mortgage. Grantor. The word "Grantor" means MARK S MAPES and TERESA G MAPES. The Grantor is the mortgagor under this Mortgage. Guarantor. The word "Guarantor' means and includes without limitation each and all of the guarantors, sureties, and accommodation parties in connection with the Indebtedness. v Indebtedness. The word "Indebtedness" means all .principal and interest payable under the Note and any amounts expended or advanced by Lender to discharge obligations of Grantor or expenses incurred by Lender to enforce obligations of Grantor under this Mortgage, together with interest on such amounts as provided in this Mortgage. Note. The word "Note" means the promissory note or credit agreement dated May 12, 2000, in the original principal amount of $25,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. The maturity date of this Mortgage is June 15, 2010. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property. Property. The word "Property" means collectively the Real Property and the Personal Property. Real Property. The words "Real Property" mean the property, interests and rights described above in the "Grant of Mortgage" section. Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property. THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ALL OBLIGATIONS OF GRANTOR UNDER THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to Lender all amounts secured by this Mortgage as they become due, and shall strictly perform all of Grantor's obligations under this Mortgage. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until in default, Grantor may remain in possession and control of and operate and manage the Real Property and collect the Rents. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the right to remove, any timber, minerals (including oil and gas), soil, gravel or rock products without the prior written consent of Lender. DUE ON SALE CONSENT BY LENDER. Lender may, at its option, declare immediately due and payable all sums secured by this Mortgage upon the sale or transfer, without the Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest therein; whether legal, beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater than three (3) years, lease- option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of Real Property interest. If any Grantor is a corporation, partnership or limited liability company, transfer also includes any change in ownership of more than twenty -five percent (25 of the voting stock, partnership interests or limited liability company Interests, as the case may be, of Grantor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by Wyoming law. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are a part of this Mortgage. Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, payroll taxes, special taxes, assessments, water charges and sewer service charges levied against or on account of the Property, and shall pay when due all claims for work done on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Mortgage, except for the lien of taxes and assessments not due, except for the Existing Indebtedness referred to below, and except as otherwise provided in the following paragraph. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Mortgage. Maintenance of Insurance. 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(iv3s) f� 0(t i 7 R io l y' a Jul pug nq nd AnioN ty dO AJNl00 L 7 /WQA AO 31V1S S3dVW S )IHVW yritav x V :HO1NYHD 'SWFl31 Sll Ol S331:10V HOINVHO 1-13V3 ONV '30V01H0W SIH. AO SNOISIAOHd 3H1 T1V av3H ONIAVH S3oa31MON)I3V HOINVHO H3V3 ON 01301 -z L-5o LEGAL DESCRIPTION THE FOLLOWING DESCRIBED REAL ESTATE, SITUATE IN THE COUNTY OF LINCOLN, STATE OF WYOMING, HEREBY WAIVING AND RELEASING ALL RIGHTS UNDER AND BY VIRTUE OF THE HOMESTEAD EXEMPTION LAWS OF THE STATE OF WYOMING, TO -WIT: LOT 57 OF NORDIC RANCHES DIVISION NO. 5, LINCOLN COUNTY, 352 WYOMING DESCRIBED ON THE OFFICIAL PLAT THEREOF. SIGNATURES REQUIRED: MARK S. MAPES TERESA G. MAPES AS TENANTS BY THE ENTIRETIES ADDRESS: 59 BUCKSKIN WAY ETNA, WY 83118 LEGAL DESC: COUNTY: LINCOLN DEED VOLUME: 374 -108 RECORDED: 09/29/1995 DESCRIBED AS: 12- 36 19 26 -1 -00- 057.00