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Home My WebLink About974634NORTHERN TITLE CO. PO BOX 856 THAYNE, WY 83127 63'7 After Recording Return to: Farm Credit Services Missoula 3021 Palmer Street, Suite B PO Box 16166 Missoula, MT 59808 -6166 Line of Credit Mortgage and Fixture Filing On November 19, 2013, Circle B Land Company Starvation Pasture, LLC, a Limited Liability Company, Circle B Land Company Hufford, LLC, a Limited Liability Company, Circle B Land Company Tom Goure, LLC, a Limited Liability Company, Circle B Land Company Fish Creek, LLC, a Limited Liability Company, Circle B Land Company Mayfield, LLC, a Limited Liability Company, and BV Cokeville Ranch House, LLC, a Limited Liability Company, hereinafter called Mortgagors, whose address is 901 Pier View Drive Suite 201 Idaho Falls, ID 83402 grant, convey, warrant, transfer and assign to Northwest Farm Credit Services, PCA, a corporation organized under the Farm Credit Act of 1971, as amended, hereinafter called Mortgagee, whose address is 1700 South Assembly Street, P.O. Box 2515, Spokane, Washington 99220 -2515, a mortgage and security interest in property in Lincoln County(ies), State of Wyoming, more particularly described as follows (the "Land Parcel A FISH CREEK TOWNSHIP 23 NORTH, RANGE 117 WEST, 6TH P.M., LINCOLN COUNTY, WYOMING: SECTION 5 NW'ASW' /a, SE'V,SW' /o SECTION 6 LOTS 10, 11, 12, 13, 14, 16, 18, 19, S' /2NE' /4 (LESS PARCEL DEEDED TO ZEBRE AT BOOK 119PR, PAGE 461) SECTION 7 LOTS 7, 8, 9, 13, 14, 15, SE'/4NE' /4, N1/2NE1/4 SECTION 8 NE'/4NE' /4, S W' /4NE'/4, W'/2SE1/4 SECTION 9 SW'ANW1/4 SECTION 17 NEV,NW/4, N' /2SW' /4 SECTION 18 LOTS 5, 7, 8, 9, 10, 11, 12, 13, SW'ANE1/4, NE1/4SE1/4 SECTION 19 LOTS 13, 15 SECTION 20 NW'/4SW'/4 SECTION 22 SWV,SW1/4 Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 1 RECEIVED 12/20/2013 at 11:36 AM RECEIVING 974634 BOOK: 825 PAGE: 481 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 0481 SECTION 23 SW'/4SW A (LESS TRACT 40) SECTION 26 NW'/4NW1/4 (LESS TRACT 40), SW'/4NW'A SECTION 27 SE'/4SWV, SECTION 28 NW'ANE' /4, NW'ANW'/4 SECTION 29 Si/21\1W% SECTION 30 LOT 10, S1/4NE' /4 SECTION 32 NE'/4SW' /4, SE' /4NE'/4 SECTION 33 NW'/4NE' /4 SECTION 34 NW'ASE'/4, NW'ASW'/4 SECTION 35 SW'ANW'/4 TOWNSHIP 23 NORTH, RANGE 118 WEST, 6TH P.M., LINCOLN COUNTY WYOMING SECTION 1 LOTS 5, 6, 7, S'' /2NE'/4, N' /2SE1/4, SW'ASW'/4, SE'/4SE'/4, SW'ASE'/4 (LESS DEEDED TO ZEBRE AT BOOK 119PR, PAGE 461) SECTION 2 LOTS 5, 6, SW ASE'/4, SW ANE' /4, NW ASE'/4 SECTION 11 SWANE1/4, NE'/4SE1/4, SWASE1/4, NW'/4NE'/4, SWASW1/4 SECTION 12 NE1/4NW1/4, W' /2W'V2, E'/SE', SE'/4NE1/4 SECTION 13 N'' /2SE'/4, W' /2NW' /4, SE'/4NW1/4, E' /2NE' /4 SECTION 14 SE'/4SW'A, NE'/4SE'/4, SWASE'/4, NE'/4NW' /4 SECTION 24 SW'/4SE1/4, NE'/4SW'/4 SECTION 25 NE'/4NW1/4 SECTION 27 NE'/4NW1/4 Parcel B TOM GOURE TOWNSHIP 23 NORTH, RANGE 118 WEST, 6TH P.M., LINCOLN COUNTY WYOMING SECTION 4 LOTS 5, 6, 7, 8, SW'/4NW1/4, S' /2SW'A, NW/4SW1/4 SECTION 5 LOT 5 SECTION 8 SE' /4NE'/4, E'/2SE1/4 SECTION 9 NW ANW'A, NV2SW1/4, SW'ASW1/4 SECTION 17 E'' /2, SW' /4, E'V2NW1/4, SW'/4NW1/4 SECTION 20 NEVI, E%2NW'/4 SECTION 21 SW'ANW'A TOWNSHIP 24 NORTH, RANGE 118 WEST OF THE 6TH P.M., LINCOLN COUNTY, WYOMING: SECTION 21 E'V2SE1/4, NE'/4SW1/4, SE'/4NE1/4, W'Y2E %2, SE'/4SW A, NW'/4, NE'/4NE' /4 SECTION 22 SWASW'/4 SECTION 27 NE' /4, NV2NW'/4, NW ASE'/4, E' /2SE'/4 (LESS PARCEL DEEDED TO ZEBRE AT BOOK 119PR, PAGE 461) SECTION 28 N' /2NE'/4, E' /2W' /2, SW' /4NE' /4, W' /2SE'/4, NW'ANE'/4 SECTION 33 SE'/4NW'A, E'' /2SW'A, NE'/4, W' /2SE' /4 SECTION 33 SE'/4NW'/4, E'' /2SWA, NO A, SE' SECTION 34 NE'/4NE' /4 (LESS PARCEL DEEDED TO ZEBRE AT BOOK 1 19PR, PAGE 461) Parcel C HUFFORD PART OF TRACT 79 (ORIGINALLY LOTS 3, 4 OF SECTION 7) Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 2 TOWNSHIP 24 NORTH, RANGE 118 WEST OF THE 6TH P.M., LINCOLN COUNTY, WYOMING: PART OF TRACT 80 (ORIGINALLY LOTS 1, 2, OF SECTION 7) Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 3 0483 TRACTS 97F, 97G (LESS PARCEL DEEDED TO JOHN RUSSELL THORNOCK, SR. AND EMMA LUCY THORNOCK AT BOOK 509PR, PAGE 572) SECTION 6 LOTS 20, 21, 22, 26, W'/ZSE1/4 AND ALL OF LOTS 17 AND LOTS 25; AND THAT PART OF LOT 14 AND LOT 24 OF SAID SECTION 6 LYING AND BEING SITUATED SOUTHERLY OF THE FOLLOWING DESCRIBED EXISTING FENCE LINE: BEGINNING AT A POINT ON THE WEST LINE OF SAID LOT 24, N00 °28'15 "E., 578.54 FEET OF CORNER NO. 2 OF SAID TRACT 97, FOUND AS DESCRIBED IN THE CORNER RECORD FILE IN THE OFFICE OF THE CLERK OF LINCOLN COUNTY; THENCE 89 °01'12 "E, 583.41 FEET ALONG SAID FENCE TO A POINT; THENCE S88 °45'49 "E, 457.47 FEET ALONG SAID FENCE TO A POINT; THENCE S88° 50'51"E., 421.64 FEET ALONG SAID FENCE AND AN EASTERLY PROTRACTION OF SAID FENCE AND AN EASTERLY PROTRACTION OF SAID FENCE TO THE EAST LINE OF SAID LOT 14 SECTION 7 LOTS 5, 10 11, W' /zNE' /a, NW' /4SE1/4 TOWNSHIP 24 NORTH, RANGE 119 WEST, 6TH P.M., LINCOLN COUNTY, WYOMING: TRACT 78 (ORIGINALLY W' /2NW' /a, SW'/o, W' /2SE'/ OF SECTION 12) PART OF TRACT 79 (ORIGINALLY E'' /2SE'/4 OF SECTION 12) PART OF TRACT 80 (ORIGINALLY E %2NE1/4 OF SECTION 12) TRACT 81 (ORIGINALLY W%ZNE1/4, E'ANW1/4 OF SECTION 12) TRACT 95 (ORIGINALLY NW1/4SW1/4 OF SECTION 2 AND NE' /4SE1/4 OF SECTION 3 LESS PARCEL DEEDED TO TOWN OF COKEVILLE AT BOOK 388PR, PAGE 206) TRACTS 97D, 97E, 97F AND 97G (LESS PARCEL DEEDED TO JOHN RUSSELL THORNOCK, SR. AND EMMA LUCY THORNOCK AT BOOK 509PR, PAGE 572) THAT PART OF TRACT 97 -H, TRACT 97 -I, TRACT 97 -J, TRACT 97K, AND LOT 46 IN SECTION 1 AND LOT 38 IN SECTION 2, TOWNSHIP 24 NORTH, RANGE 119 WEST, LINCOLN COUNTY, WYOMING, LYING AND BEING SITUATED SOUTHERLY OF THE FOLLOWING DESCRIBED EXISTING FENCE LINE: BEGINNING AT A POINT ON THE EAST LINE OF SECTION 1, N00 °14'38 "E, 583.78 FEET OF THE CLOSING CORNER BETWEEN SAID SECTION 1 AND SECTION 6, TOWNSHIP 24 NORTH, RANGE 118 WEST, ON THE SOUTH LINE OF N88 °50'13 "W, 1070.76 FEET ALONG SAID FENCE TO A POINT; THENCE N88 °47'59 "W, 690.86 FEET ALONG SAID FENCE TO A POINT; THENCE N88 °47'13 "W, 1011.30 FEET ALONG SAID FENCE TO A POINT; THENCE N88 °42'26 "W, 934.30 FEET ALONG SAID FENCE TO A POINT; THENCE N 88 °41'49 "W, 457.76 FEET ALONG SAID FENCE TO A POINT; THENCE N88 °20'37 "W, 560.07 FEET MORE OF LESS, ALONG SAID FENCE AND A WESTERLY PROTRACTION TO SAID FENCE TO THE WEST LINE OF SAID LOT 38 SECTION 1 LOTS 20, 21, 24, 25, 33, 34, 37, 45 SECTION 2 LOTS 30, 33, 35, 37, SW1/4SW1/4, S '/2SE'/4, SE1/4SW1/4 SECTION 3 LOT 43, SE1/4SE1/4 SECTION 10 N'VSE' /4, NE'/ SECTION 11 N'hNW' /4, SW/NV/4, NW'/4SW1/4, W'/2SE1/4, NW' /4NE1/4, NE' /4NE1/4, S1/4NE1/4, SE' /4NW1/4, E1/4SW'/4, NE'/4SE1/4, SE'/4SE'/4 SECTION 12 LOTS 10, 11, 18, 21, 22, 25 SECTION 13 LOT 3 SECTION 14 N'/2NE1/4, NE1/4NW1/4, LOTS 1, 4, 6 Parcel D MAYFIELD 0484 TOWNSHIP 25 NORTH, RANGE 117 WEST, 6TH P.M., LINCOLN COUNTY, WYOMING: SECTION 8 S' /2SE1/4, N' /2SE'/4, N' /2SW1/4, SE1/4SW1/4 SECTION 9 S'V2SW'/4, N' /2SW' /4, SE1/4 SECTION 17 E' /2, E'' /2W'/2, SW1/4SW1/4 SECTION 20 NE1/4, S' /2, NW1/4 SECTION 21 W'V2NW'/4, SW'/, W'Y2SE1/4, SE1/4SE1/4 SECTION 27 SW1/4SW1/4, W'VNW1/4, NW1/4SW1/4 SECTION 28 NW1/4 SECTION 29 SE1/4, N'h SECTION 32 NW1/4 SECTION 33 N' /2SE'/4, N1/4NW1/4, SE1/4NW1/4, SW1/4NW1/4 SECTION 34 S1/4, SW1/4NE1/4, W' /2NW' /4 SECTION 35 S' /2S' /2, N' /2SW1/4, SE1/4NW1/4, SW1/4NE1/4, N'V2SE' /4 Parcel E STARVATION TOWNSHIP 24 NORTH, RANGE 119 WEST, 6TH P.M., LINCOLN COUNTY, WYOMING: Parcel F COKEVILLE RANCH HOUSE EXHIBIT B Township 23 North, Range 117 West, 6th P.M., Lincoln County, Wyoming: SECTION 5: NW1/4SW1/4, SE1/4SW1/4 Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 4 TRACT 50 (ORIGINALLY N' /2N' /2 OF SECTION 27) Less and Except that part of GLO Tract 50, T24N, R119W, Lincoln County, Wyoming described as follows: Beginning at the Southwest Corner of said Tract No. 50 and running thence N 00° 05' 31" W, 1320.00 feet along the west line thereof to the Northwest corner of said tract; Thence N 89° 43' 17" E, 2705.17 feet along the North Line of said tract to an existing fence line; Thence S 07° 02' 19" W; 1335.14 feet; along said fence line to the south line of said tract; Thence S 89° 49' 05" W, 2539.43 feet along said south line to the point of beginning SECTION 22 SE1/4NE1/4, N'Y2SE1/4 (LESS ALL OF THAT PART OF THE N'V2SE'/4 LYING WESTERLY OF THE EAST FENCE LINE OF THE SHEEP TRAIL) SECTION 23 LOTS 10, 22, 23, N'/2SW1/4 EXCEPT N 75' OF E 220' SECTION 26 NE1/4NE1/4 LOT 5 OF PINE CREEK SOUTH SUBDIVISION, LINCOLN COUNTY, WYOMING, AS DESCRIBED ON THE OFFICIAL PLAT FILED ON SEPTEMBER 2, 2009, AS INSTRUMENT NO. 949227 OF THE RECORDS OF THE LINCOLN COUNTY CLERK. SECTION 6: LOTS 10, 11, 12, 13, 14, 16, 18, 19, S' /2NE'/4 (LESS PARCEL DEEDED TO ZEBRE AT BOOK 119PR, PAGE 461) SECTION 7: LOTS 7, 8, 9, 13, 14, 15, SE1/4NE1/4, N'VNE' /4 SECTION 8: NE1/4NE1/4, SW1/4N0A, W'/ZSE1/4 SECTION 9: SW'ANW1/4 SECTION 17: NE1/4NW1/4, N'VSW' /4 SECTION 18: LOTS 5, 7, 8, 9, 10, 11, 12, 13, SW1/4NE1/4, NE1/4SE1/4 SECTION 19: LOTS 13, 15 SECTION 20: NWASW1/4 SECTION 22: SWASW1/4 SECTION 23: SW'/4SW1/4 SECTION 26: NW'ANW1/4, SW1/4NW1/4 SECTION 27: SE'/4SW1/4 SECTION 28: NW1/4N0%, NW1/4NW1/4 SECTION 29: S'YNW' /4 SECTION 30: LOT 10, S'YNE' /4 SECTION 32: NE'/4SW1/4, SE1/4NE1/4 SECTION 33: NW'/4NE1/4 SECTION 34: NW'ASE1/4, NW'ASW1/4 Township 23 North, Range 118 West, 6th P.M., Lincoln County, Wyoming; SECTION 1: LOTS 5, 6, 7, S %ANE1/4, N %ASE'/4, SW'/4SW1/4, SE' /4SE1/4, SW1/4SE1/4 (LESS DEEDED TO ZEBRE AT BOOK 119PR, PAGE 461) SECTION 2: LOTS 5, 6, SW'ASE1/4, SW' /4NE1/4, NW'/4SE1/4 SECTION 4: LOTS 5, 6, 7, 8, SW'/4NW1/4, S''ASW' /4, NW' /4SW'/4 SECTION 5: LOT 5 SECTION 8: SE' /4NE1/4, E%2SE1/4 SECTION 9: NW' /4NW1/4, N''ASW' /4, SW1/4SW1/4 SECTION 11: SW'/4NE1/4, NE'/4SE1/4, SWASE1/4, NW'/4NE1/4, SW1/4SW1/4 SECTION 12: NE'/4NW1/4, WAWA, E'/2SE1/4, SE'/4NE1/4 SECTION 13: N''ASE'/4, W'/ZNW1/4, SE'/4NW1/4, E'hNE1/4 SECTION 14: SE1/4SW1/4, NE'/4SE1/4, SW'ASE1/4, NE'/4NW1/4 SECTION 17: E'h, SW1/4, E' /ZNW1/4, SW/NW/4 SECTION 20: NE'/, E'YNW1/4 SECTION 21: SW'/4NW1/4 SECTION 24: SW1/4SE1/4, NE'/4SW1/4 SECTION 25: NE1/4NW1/4 SECTION 27: NE'/4NW1/4 Township 24 North, Range 118 West of the 6th P.M., Lincoln County Wyoming: Section 22: SW 1/4 SW' /4 Township 24 North, Range 119 West Of the 6th P.M., Lincoln County, Wyoming: Section 22: Section 26: Township 25 North, Range 117 West, 6th P.M., Lincoln County, Wyoming: SECTION 8: SECTION 9: SE'/4NE1/4, N' /ASE' /4 NE 1/4 NE 1/4 S' /ASE'/4, N %ASE1/4, SW1/4 S %ASW1/4, N' /ASW' /4, SE1/4 Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 5 0 4185 SECTION 17: E1/2, W1/2 SECTION 20: NE' /4, S1/2, NW'/4 SECTION 21: W1/2NW1/4, SW' /4, W1/2SE1/4, SE'/4SE% SECTION 28: NW'/ SECTION 29: SEA, N'/2 SECTION 32: NW'/ SECTION 33: N1/2SE1/4, N1/2NW1/4, SE1/4NW1/4, SW1/4NW'/4; BLM Grazing Privileges for 203 AUMs; BLM Grazing Privileges for 337 AUMs; BLM Grazing Privileges for 43 AUMs; BLM Grazing Privileges for 28 AUMs; BLM Grazing Privileges for 124 AUMs; BLM Grazing Privileges for 312 AUMs; Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 6 All irrigation equipment, now owned and used, in whole or in part, to irrigate the mortgaged property, together with all similar goods which may be acquired at any time, any additions, replacements, substitutions and accessions; and including all buildings, structures, wells and other improvements now or hereafter located on the Land, including, but not limited to the fixtures (as described below), and all other equipment, machinery, appliances, goods and other articles attached to such buildings and other improvements; all fixtures (including without limitation, goods that are or become so related to the Land that an interest in them arises under the real estate law) and any additions or replacements now or hereafter located on, attached to, installed in or used in connection with the Land; all personal property, appliances, equipment and goods now or hereafter owned or possessed by Mortgagors located upon, in, or about or used in connection with the Land or improvements; all rights, rights -of -way, easements, licenses, profits, claims, demands, privileges, grazing privileges, leases, rents, issues, tenements, hereditaments, and appurtenances now owned or hereafter acquired by Mortgagors and used in connection with the Land and the improvements or as a means of access to either or both, (including without limitation all rights over the property of third persons which are related thereto, private roads, water rights and entitlements, other rights to water and other rights to receive water or water rights of every kind or nature whatsoever and howsoever evidenced, ditches and conduits and rights of way therefor, all plumbing, lighting, heating, cooling, ventilating, elevating, and irrigating apparatus, now or hereafter belonging to or used in connection therewith), all of which is hereinafter called the "Property." The following described Note(s), Membership Agreements, security documents and any other documents or instruments signed in connection with the Note(s) and security documents and any amendments thereto are collectively called the "Loan Documents." "Advances" shall include any amounts provided to Mortgagor under the terms of the Loan Documents and any amounts expended by Mortgagee to protect the Property or enforce its rights under the Loan Documents. This conveyance is intended to secure performance of the covenants and agreements contained herein, and in any Loan Documents, and payment of the indebtedness under the terms of the Note(s) made by Mortgagors to the order of Mortgagee, with interest and charges as provided therein and in the Loan Documents, and any extensions, modifications or renewals thereof: DATE PRINCIPAL OF NOTE AMOUNT November 19, 2013 November 19, 2013 $1,850,000.00 $800,000.00 0 487 Mortgagors and each of them REPRESENT, WARRANT, COVENANT and AGREE: Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 7 FINAL INSTALLMENT DATE December 1, 2014 December 1, 2020 In addition, this Mortgage is intended to secure future loans and advances made by Mortgagee, no matter how evidenced. The continuing validity and priority of this Mortgage for future loans and advances shall not be impaired by the fact that at certain times no outstanding indebtedness to Mortgagee nor commitment from Mortgagee to make future loans exist. The terms of the Note(s) and Loan Documents, described above, provide that the interest rate, payment terms or amounts due may be indexed, adjusted, renewed or renegotiated. 1. That they have title to the Property free from encumbrances, except as otherwise previously disclosed, they have good right and lawful authority to convey and encumber the same; they will warrant and defend the same forever against the lawful claims and demands of all persons whomsoever; and they agree this covenant shall not be extinguished by foreclosure or other transfers. Mortgagor authorizes Mortgagee to file a financing statement and any continuations thereof, describing any personal property or fixtures described herein, without further signature by Mortgagor. 2. To keep all buildings and other improvements, now or hereafter existing, in good repair, not to remove or demolish or permit the removal or demolition of any building or other improvement; to restore promptly in a good and workmanlike manner, any building or improvement, which may be damaged or destroyed; to maintain and cultivate the Property in a good and husbandlike manner, using approved methods for preserving the fertility and productivity thereof; not to change or permit change in the use of the Property; and not to do anything which would reduce the value of the Property. 3. To maintain casualty insurance, naming Mortgagee as loss payee, on all buildings and improvements, against loss or damage by fire or other risks; to maintain liability insurance; to obtain flood insurance at any time it is determined that any building or improvement is located in whole or in part within a special flood hazard area; to pay all premiums and charges on all such insurance when due; and to provide Mortgagee satisfactory evidence of such insurance upon request. All such insurance shall be in such form(s), with such company(ies) and in such amount(s) as shall be satisfactory to Mortgagee. 4. Not to apply or enter into any federal, state, local or other program, license, easement, or other agreement which limits or restricts the use of the Property, in any way, without prior written consent of Mortgagee. 5. To pay all debts and money, secured hereby, when due; to pay, when due, all taxes, assessments, rents and other charges upon the Property and to suffer no other encumbrance, charge or lien on the Property, which would be superior to this Mortgage, except as stated above. 6. To specifically assign and deliver to Mortgagee all rents, royalties, damages and payments of every kind, including without limitation insurance reimbursements and condemnation awards, at any time accruing, for any transfer, loss or seizure of the Property, any portion thereof or any rights therein; and Mortgagee may, at its option, apply such amounts in any proportion to any of the indebtedness hereby secured; and Mortgagee shall have the right to enter upon the Property to make full inspection of the Property. 7. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property and its use, including without limitation all environmental laws; not to use or permit the use of the Property for any unlawful or objectionable purpose or for any purpose that poses an unreasonable risk of harm, or that impairs or may impair the value of the Property, or any part thereof; not to apply residue from waste water treatment facilities to the Property without prior written notice to Mortgagee; to remedy any environmental contamination or violation of environmental laws that may occur or be discovered in the future; to allow Mortgagee access to the Property to inspect its condition and to test and monitor for compliance with applicable laws (any inspections or tests made by Mortgagee shall be for Mortgagee's purposes only and shall not be construed to create any responsibility or liability on the part of Mortgagee to Mortgagors or to any other person), to forward copies of any notices received from any environmental agencies to Mortgagee; to provide Mortgagee copies of any independent test or inspection reports on the environmental status of the Property; and to indemnify and hold Mortgagee, its directors, employees, agents and its successors and assigns, harmless from and against any environmental claims of any kind, and all costs and expenses incurred in connection therewith, including, without limitation, attorney's fees. 8. That neither Mortgagors nor, to the best of the Mortgagor's knowledge, any prior owner has created or permitted conditions on the Property, which may give rise to environmental liability; no enforcement actions are pending or threatened; no underground tanks are located on the Property except as already disclosed; any such underground tanks currently or previously located on the Property do not now and never have leaked and no contaminated soil is located on the Property; and Mortgagor's representations, warranties, covenants and indemnities herein and in the Loan Documents shall survive satisfaction of the Note(s) and Loan Documents, foreclosure of this Mortgage, acceptance of a deed in lieu of foreclosure or any transfer or abandonment of the Property. 9. To perform all terms and conditions of each water or other contract, described above, if any, and to promptly pay all sums due or to become due under each contract so that no delinquency or default will occur under such contract(s); to perform all acts necessary to perfect and maintain any water permit, certificate, license or other water interest, however designated, described in or used in conjunction with the real property described above; any assignment of any such interest during the term of this Mortgage, naming Mortgagee as an assignee shall be for security purposes and shall not alter Mortgagors' obligations hereunder; and any failure of Mortgagors to perform any such obligation shall constitute an event of default. 10. That the term "Grazing Rights," as hereinafter used refers to that portion of the Property, if any, consisting of grazing leases, permits, licenses, privileges, and preferences, or any of them, which have or will be assigned, mortgaged or waived to Mortgagee, together with any additions, renewals, replacements or substitutions thereof; if any portion of the Grazing Rights is a leasehold interest in state lands, such leasehold shall be considered to be real property; such leasehold and all other real property portions of the Property constitute a single operating unit; and in the event of foreclosure, Mortgagee shall have the right to have such leasehold and the other real property sold as a unit and not in parcels; any statements and representations in any applications for Grazing Rights are true and correct; Mortgagors have received no notice that the Grazing Rights have or are to be terminated, cancelled or modified; and any termination or cancellation of any of the Grazing Rights shall constitute an event of default under this Mortgage. 11. To execute any instrument deemed necessary by the Mortgagee to assign, mortgage or waive such Grazing Rights to the Mortgagee; to pay all fees and charges, and to perform all acts and things necessary to preserve and keep in good standing the Grazing Rights; to take no action which would adversely affect the Grazing Rights; to procure renewals of the Grazing Rights upon or prior to their expiration date; to operate the lands covered by the Grazing Rights in conjunction with the other real estate portion of the Property and not to convey or attempt to convey either separately; to forward to Mortgagee copies of any notices received by Mortgagors regarding the Grazing Rights; and in the event of foreclosure of this Mortgage, to waive all claims for preference in the Grazing Rights upon demand from the purchaser of the Property at foreclosure sale, or from any successor to such purchaser. Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 8 048 0489 12. That if the Property is within an irrigation block and/or subject to water service contract(s) governed by the provisions of "Federal reclamation law," and the regulations issued thereunder, Mortgagors shall comply with the terms and provisions of said laws, regulations and contracts; Mortgagors, and each of them, for themselves, their heirs, successors and assigns, hereby appoint Mortgagee their attorney -in -fact to select and designate the portion of the Property to be subject to a recordable contract, in the event Mortgagors become subject to the excess land limitation; if Mortgagors fail to comply with the terms of said law, regulations or contracts, or if the delivery of water for the irrigation of the Property is discontinued in whole or in part, Mortgagors shall be in default; in the event the Bureau of Reclamation determines that continued drainage maintenance on the Property is no longer feasible, and Mortgagors purchase other lands offered as a preference purchase right (as an adjustment for wetlands), Mortgagors shall execute a supplemental mortgage on such lands in favor of the Mortgagee; and failure to execute such mortgage on demand, shall constitute an event of default. 13. That in the event of default in any of the covenants or agreements herein, or in any of the Loan Documents, Mortgagee may, at its option perform the same, in whole or in part; any advances, including, without limitation, attorney fees or costs, paid or incurred by Mortgagee to protect or enforce its rights under the Loan Documents, in bankruptcy, appellate proceedings or otherwise, shall be payable on demand and shall become a part of the indebtedness secured by this Mortgage. 14. That the indebtedness and obligations secured by this mortgage are personal to the Mortgagors and are not assignable by Mortgagors; Mortgagee relied upon the credit of Mortgagors, the interest of Mortgagors in the Property and the financial market conditions then existing when making this loan; if Mortgagors sell, transfer or convey or contract to sell, transfer or convey the Property, or any portion thereof, or if the ownership of any corporation or partnership, owning all or any portion of the Property shall be changed either by voluntary or involuntary sale or transfer or by operation of law, without prior written consent of Mortgagee, or if Mortgagors default in the payment of the indebtedness, or with respect to any warranty, covenant or agreement in the Loan Documents or if a receiver or trustee for any part of the Property is appointed, or if any proceedings under the bankruptcy or insolvency laws is commenced by or against Mortgagors, or if Mortgagors become insolvent, or if any action is commenced to foreclose or enforce a lien on any portion of the Property, then, Mortgagors shall be in default hereunder. 15. That time is of the essence and in the event of default, at Mortgagee's option, the entire indebtedness secured hereby shall forthwith become due and payable and bear interest at the rate set forth in the Loan Documents for delinquent payments; Mortgagee shall have the right to foreclose the lien of this Mortgage, to have a receiver appointed in any court proceeding; to collect any rents, issues and profits from the Property and apply them against the indebtedness hereby secured and to exercise any rights and remedies available under the Uniform Commercial Code for the state in which the property is located; and reasonable notice if required by such Code shall be five (5) days. 16. That the failure of Mortgagee to exercise any right or option provided herein, at any time shall not preclude Mortgagee from exercising any of such rights at any other time; the covenants and agreements contained herein shall be binding on and inure to the benefit of the parties and their respective heirs, successors and assigns; all rights conferred on Mortgagee are cumulative and additional to any rights conferred by law; and if any provision is found to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provision hereof and the Mortgage shall be construed as though such provision had been omitted. 17. That Mortgagors and each of them join in this instrument for the purpose of subjecting each of their right, title and interest, if any, in the Property, whether of record or otherwise and including any right to possession, to the lien of this Mortgage. All Exhibits hereto, if applicable, are incorporated herein and made a part of this Mortgage. 18. That Mortgagor warrants that the state of formation is the State of Idaho and Mortgagor's exact legal name is as set forth herein. Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 9 19. This Mortgage is intended to serve as a fixture filing pursuant to the terms of the applicable Uniform Commercial Code. This Mortgage is to be recorded in the real estate records of each County in which the Property is located. In that regard, Mortgagor is Debtor and Mortgagee is Secured Party. 20. That the following parties join in this instrument to perfect the lien offered as security for the secured obligations and to acknowledge the covenants and conditions contained herein are applicable to them as owners of the described property, but assume no liability for payment of the Note(s): Circle B Land Company Starvation Pasture, LLC, a Limited Liability Company, Circle B Land Company Hufford, LLC, a Limited Liability Company, Circle B Land Company Tom Goure, LLC, a Limited Liability Company, Circle B Land Company Fish Creek, LLC, a Limited Liability Company, Circle B Land Company Mayfield, LLC, a Limited Liability Company and BV Cokeville Ranch House, LLC, a Limited Liability Company. Without affecting the lien of this Mortgage, the undersigned hereby waives any defense for any action affecting the Property, the secured obligations or the Loan Documents, including but not limited to, the following and or notice thereof: (a) any alteration of any terms of the Loan Documents, including increase of indebtedness; (b) the order of application of payments made; (c) acceleration; (d) release or sale of all or a part of the Property; (e) the taking or release of additional security; (f) default or any action or nonaction taken by any party to the Loan Documents; (g) any statute of limitation, anti deficiency laws, one action rules, election of remedies, jurisdiction, venue, redemption, rights of valuation, stay of execution or marshaling; (h) the order of Mortgagee's proceeding against any party and or the Property or portion thereof; (i) any act by Mortgagee or any party which results in discharge of a liable party or release of the Property; and (j) all rights and remedies under applicable law or equity regarding rights and remedies of borrowers, mortgagors, mortgagees, grantors, beneficiaries, sureties, guarantors and or nonrecourse guarantors. 21. WAIVER OF JURY TRIAL. MORTGAGOR AND LENDER HEREBY IRREVOCABLY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS LOAN DOCUMENT OR ANY OTHER LOAN DOCUMENTS AND ANY FUTURE MODIFICATIONS, AMENDMENTS, EXTENSIONS, RESTATEMENTS AND SERVICING ACTIONS RELATING TO THIS LOAN DOCUMENT AND ANY OTHER LOAN DOCUMENTS. THE PARTIES INTEND THAT THIS JURY WAIVER WILL BE ENFORCED TO THE MAXIMUM EXTENT ALLOWED BY LAW. ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. Circle B Land Company Starvation Pasture, LLC, a Limited Liability Company By: BV Management S ices, In Manager By: Cortney R. By: BV Manage By: Cortney R. iddiard, President Circle B Land Company Hufford, LLC, a Limited Liability Company ddiard, President ces, Inc., Manager Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 10 'i 't i Circle B Land Company Tom Goure, LLC, a Limited Liability Company By: BV Management Services, Inc., Manager By: Co By: BV Managem ddiard, President Circle B Land Company Fish Creek, LLC, a Limited Liability Company By: BV Managemenj.ervices, Inc., Manager By Co y R. iddiard, President Circle B Land Company Mayfield, LLC, a Limited Liability Company By: Cort y R. Liddiard, President BV Cokeville Ranch House, LLC, a Limited Liability Company By: BV Managemen ervices, Inc., Manager By: Cortn= iddiard, President STATE OF SCAN )ss. ices, Inc., Manager County of esr vvilite On this t' day of V K,M e.A 2013, before me personally appeared Cortney R. Liddiard, known to me to be the President of BV Management Services, Inc., the corporation that executed the within instrument as a Manager in Circle B Land Company Starvation Pasture, LLC, the limited liability company that executed the within instrument, and acknowledged that such corporation executed the same as such Manager and in the company name freely and voluntarily, and on oath stated that he /she were authorized to execute said instrumen N s t P a1QCcr it 1}�ortgage (BV Cd' �,e ie Ranches, Lo No. 6213153/6213151) •I• ‘9,**- t QF 1.P.. 04 31 Prin e Nam Notary Public fo the Stat• o Residing attAG *0 Cu ti, R I d a h0 My Commission Expires J LU-0 Q -11 STATE OF AO County of Bow /kit Ile )ss. On this 11 day of 1 )(,C'all1 2013, before me personally appeared Cortney R. Liddiard, known to me to be the President of BV Management Services, Inc., the corporation that executed the within instrument as a Manager in Circle B Land Company Hufford, LLC, the limited liability company that executed the within instrument, and acknowledged that such corporation executed the same as such Manager and in the company name freely and voluntarily, and on oath stated that he /she were authorized to execute said instrument. STATE OF )ss. County of hnneivi1ie/ On this i) day of ROM be/Y 2013, before me personally appeared Cortney R. Liddiard, known to me to be the President of BV Management Services, Inc., the corporation that executed the within instrument as a Manager in Circle B Land Company Tom Goure, LLC, the limited liability company that executed the within instrument, and acknowledged that such corporation executed the same as such Manager and in the company name freely and voluntarily, and on oath stated that he /she were authorized to execute said instrumen STATE OF I N )ss. County of V IMR /Vil1R (BV Cok i \1. �FLOj. i i ‘40 TAR 1- s A UB L 1G o s No. 6213153/6213151) 04 8 2 Printed me Notary blic for the tate of k h0 Residing at IAGAI,or\ COLirkti Ri()D419, lad h0 My Commission Expires to -Q(- (1 Print d Nam Notary Public Residing at My Commission Expires On this day of 1(,(-(/Wt 2013, before me personally appeared Cortney R. Liddiard, known to me to be the President of BV Management Services, Inc., the corporation that executed the within instrument as a Manager in Circle B Land Company Fish Creek, LLC, the limited liability company that executed the within instrument, and acknowledged that such corporation executed the same as such Manager and in the company name freely and voluntarily, and on oath stated that he /she were authorized to execute said instrumen Prin r Na Notary Pub is f.r the Stat of i hp Residing at hodan Co 1t goolgol, larAlo My Commission Expires 1,0 -0l9- �1 STATE OF WxA r o )ss. County of eXPnM.EviVIZ On this \I day of V{',(0111 fAr 2013, before me personally appeared Cortney R. Liddiard, known to me to be the President of BV Management Services, Inc., the corporation that executed the within instrument as a Manager in Circle B Land Company Mayfield, LLC, the limited liability company that executed the within instrument, and acknowledged that such corporation executed the same as such Manager and in the company name freely and voluntarily, and on oath stated that he /she were authorized to execute said instrument. STATE OF 1Dtho )ss. County of j 0i\1- ev!` 400041....; j_ 1 i ‘4 I N 40 E PUp4 nF 1� On this 0 day of D(iffIl eA 2013, before me personally appeared Cortney R. Liddiard, known to me to be the President of BV Management Services, Inc., the corporation that executed the within instrument as a Manager in BV Cokeville Ranch House, LLC, the limited liability company that executed the within instrument, and acknowledged that such corporation executed the same as such Manager and in the company name freely and voluntarily, and on oath stated that he /she were weri aporized to execute said instrument. etu Vo d o AR j� i Printer ame amp Notary ublic for t e State of PUB1 Residing atItalcOh GIUCt1U VAIA,1V1,l &ho 'Ac My Commission Expires JJ (u -oU Mortgagee acknowledges that this Mortgag "S'ilbject to a security interest in favor of CoBank, FCB (Bank) and by its acceptance hereof and pursuant to and in confirmation of certain agreements and assignments by and between Mortgagee and Bank, does assign, transfer and set over the same unto Bank, its successors and assigns, to secure all obligations of Mortgagee to Bank, provided that pursuant to such agreements and assignments Mortgagee has authority to perform all loan servicing and collection actions and activities hereunder, including, without limitation thereto, releasing in whole or in part and foreclosing judicially or otherwise this Mortgage until the Bank, by instrument recorded in the office in which this mortgage is recorded, revokes such authority. 0 4 3 �N �.y Line of Credit Mortgage (BV Cokeville Ranches, LLC/Note No. 6213153/6213151) 13 Print Notary Public for t e State of Id ON) Residing at Malign COUrkul (leJc ow !(Goth My Commission Expires It-0(j2-