HomeMy WebLinkAbout97598704/08/2014 13:41 3078850002
225647
0 -li
MORTGAGOR:
SHAWN GILBERT
Spouse of Laura Gilbert
137 Ye -Old Hauto Rd
Tamaqua, PA 18525
LAURA GILBERT
Spouse of Shawn Gilbert
137 Ye Old Hauto Rd
Tamaqua, PA 18525
See Exhibit "A" attached hereto and made a part hereof
975987 4/15/2014 3:58 PM
LINCOLN COUNTY FEES: $33.00 PAGE 1 OF 8
BOOK: 830 PAGE: 556 MORTGAGE
JEANNE WAGNER LINCOLN COUNTY CLERK
111 I III 1 IIII I IIII II II I 111 11 1111 II II II III II III V III I
Space Above This Line For Recording Data
M.ORTGAGE
BANK OF STAR VALLEY PAGE 02/16
DATE AND PARTIES. The date of this Mortgage (Security Instrument) is March 31, 201z The parties and their
addresses are:
LENDER:
THE BANK OF STAR VALLEY
Organized and existing under the laws of Wyoming
384 Washington
P.O. Box 8007
Afton, WY 83110
1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
and to secure the Secured Debts and Mortgagor's performance under this Security fnstriment, Mortgagor does
hereby grant, bargain, convey, mortgage and warrant to Lender, with the power of sale, the following described
property:
The property is located in Lincoln County at 55 Wheat Ridge Lane, Etna, Wyoming 83118.
Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gels rights, all water and
riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and
Sha wn Gilbert
Wyoming Mortgage
WY/ 4XPTOLMAN00000000000874055040814N Wolters Kluwer Financial Services "1996, 2014 Bankers Syste moTM
1 impopplugicAllilmplilipjllopp,41
Page 1
04/08/2014 13:41 3078850002 BANK OF STAR VALLEY
replacements that may now, or at any time in the future, be part of the real estate des
Property). This Security Instrument will remain in effect until the Secured Debts and al
have been terminated in writing by Lender,
2. SECURED DEBTS. The term "Secured Debts" includes and this Security Instrument
following:
A. Specific Debts. The following debts and all extensions, renewals, refinanci
replacements. A promissory note or other agreement, No. 01704391, dated March 31
to Lender, with a loan amount of S20,641.00.
B. Sums Advanced, All sums advanced and expenses incurred by Lender under the
Instrument.
3. PAYMENTS. Mortgagor agrees that all payments under the Secured Debts will be paid when due and in
accordance with the terms of the Secured Debts and this Security Instrument.
4. PRIOR SECURITY INTERESTS. With regard to ariy other mortgage, deed of trust, seciirity agreement or other
lien document that created a prior security interest or encumbrance on the Property, MortE agar agrees:
A. To make all payments when due and to perform or comply with all covenants.
8. 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.
5. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumb ances, lease payments,
ground rents, utilities, and other charges relating to the Property when due. Lender m >;y 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 1 he Property.
6, DUE ON SALE. 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 transfer or sale of all or any part of the
Property. This right is subject to the restrictions imposed by federal law, as applicable.
7. WARRANTIES AND REPRESENTATIONS. Mortgagor has the right and authority to enter into this Security
Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
Mortgagor or to which Mortgagor is a party.
8, PROPERTY CONDITION, ALTERATIONS, INSPECTION, VALUATION AND APPRAISAL.
Property in good condition and make all repairs that are reasonably necessary. Mortgagor
any waste, impairment, or deterioration of the Property. Mortgagor will keep the Propert
and grasses. Mortgagor agrees that the nature of the occupancy and use will not subs
Lender's prior written consent. Mortgagor will not permit any change in any license,
easement without Lender's prior written consent, Mortgagor will notify Lender of all
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
the purpose of inspecting, valuating, or appraising the Property. Lender will give Mortga
or before an on -site inspection, valuation, or appraisal for on going due diligence or
reasonable purpose. Any inspection, valuation or appraisal of the Property will be entirely
Mortgagor will in no way rely on Lender's inspection, valuation or appraisal for its c
otherwise provided by law.
PAGE 03/16
:ribed fall referred to as
underlying agreements
will secure each of the
igs, modifications and
2014, from Mortgagor
terms of this Security
Mortgagor will keep the
will not commit or allow
free of noxious weeds
:antially change without
restrictive covenant or
demands, proceedings,
time and frequency for
)or notice at the time of
otherwise specifying a
for Lender's benefit and
wn purpose, except as
9. 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 perlormance. Lender's right
to perform for Mortgagor will 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 Instrurn ant. If any construction
Shawn Gilbert
Wyoming Mongege
WY/ 4 )C PTOLMAN000000000006740a6040814N Wolter. Kluwer Financial Services °'1990, 2014 Bankers Sys1!m u
111110 110111 I �I 1111 111111 I1I0 11111111111111 VIII 0111 1111111 1111111 I1i1
Aage 2
04/08/2014 13:41 3078850002
BANK OF STAR VALLEY
On the Property is discontinued or not carried on in a reasonable manner,- Lender may tal e all steps necessary to
protect Lender's security interest in the Property, including completion of the construction
10. ASSIGNMENT OF LEASES AND RENTS. Mortgagor assigns, grants, bargains, c coveys, mortgages and
warrants to Lender as additional security all the right, title and interest in the following (Property): existing or
future leases, subleases, licenses, guaranties and any other written or verbal agree' nents for the use and
occupancy of the Property, including any extensions, renewals, modifications or replacemetnts (Leases); and rents,
issues and profits (Rents). In the event any item listed as Leases or Rents is determined to be personal property,
this Assignment will also be regarded as a security agreement. Mortgagor will promptly provide Lender with
copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be
provided on e.xecuti,on of the Assignment, and all future Leases and any other informatic n with respect to these
Leases will be provided immediately after they are executed. Mortgagor may collect, rec eive, enjoy and use the
Rents so long as Mortgagor is not in default. Upon default, Mortgagor will receive any ►tents in trust for Lender
and Mortgagor will not commingle the Rents with any other funds. Mortgagor ag eees that this Security
instrument is immediately effective between Mortgagor and Lender. This Security Instrument will remain effective
during any statutory redemption period until the Secured Debts ate satisfied. As long s this Assignment is in
effect, Mortgagor warrants and represents that no default exists under the Leases, and tI ie parties subject to the
Leases have not violated any applicable law on leases, licenses and landlords and tenants.
11. DEFAULT. Mortgagor will be in default if any of the following events (known separately and collectively as an
Event of Default) ocour:
A. Payments. Mortgagor fails 'to make a payment in full when due.
B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf
of, application of any debtor relief law, the assignment for the benefit of creditors ,y or on behalf of, the
voluntary or involuntary termination of existence by, or the commencement of and proceeding under any
present or future federal or state insolvency, bankruptcy, reorganization, composition c r debtor relief law by or
against Mortgagor, Borrower, or any co- signer, endorser, surety or guarantor of this Se :unity Instrument or any
other obligations Borrower has with Lender.
C. Death or Incompetency. Mortgagor dies or is declared legally incompetent,
D. Failure to Perform. Mortgagor fails to perform any condition or to keep any prorr ise or covenant of this
Security Instrument.
E. Other Documents. A default occurs under the terms of any other document relating o the Secured Debts.
F, Other Agreements. Mortgagor is in default on any other debt or agreement Mortgage r has with Lender.
G. Misrepresentation. Mortgagor makes any verbal or written statement or provides any financial information
that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
H. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor.
1. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority,
J. Name Change. Mortgagor changes Mortgagor's name or assumes an additional tame without notifying
Lender before making such a change.
IC. Property Transfer, Mortgagor transfers all or a substantial part of Mortgagor's m )ney or property. This
condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
DUE ON SALE section.
L. Property Value. Lender determines in good faith that the value of the Property has de alined or is impaired.
M. Insecurity. Lender determines in good faith that a material adverse change has c ccurred in Mortgagor's
financial condition from the conditions set forth in Mortgagor's most recent financial stitement before the date
of this Security Instrument or that the prospect for payment or performance of the Secured Debts is impaired
for any reason.
12. REMEDIES. On or after the occurrence of an Event of Default, Lender may use any .Ind all remedies Lender
has under state or federal law or in any document relating to the Secured Debts, including. without limitation, the
power to sell the Property. Any amounts advanced on Mortgagor's behalf will be immeciately due and may be
Shawn Gilbert
Wyoming Mortgage
WY/ 4XPTOLMAN00000000000674055040B14N Wolters Kluwer Financial Services *1996. 2014 Bankers Syate nst'
1 III 01 II111 IIII III II(lI I I i ImI lII IIII f III 1111 III Illi INII MIN III Ilu Ial
PAGE 04/16
Page 3
04/08/2014 13:41 3078850002
BANK OF STAR VALLEY PAGE 05/16
added to the balance owing under the Secured Debts. Lender may make a claim for any and all insurance benefits
or refunds that may be available on Mortgagor's default.
Subject to any right to cure, required time schedules or any other notice rights Mortgagor may have under federal
and state law, Lender may make all or any part of the amount owing by the term: of the Secured Debts
immediately due and foreclose this Security Instrument in a manner provided by law up m the occurrence of an
Event of Default or anytime thereafter.
Upon any sale of the Property, Lender will make and deliver a special or limited warrant r deed that conveys the
property sold to the purchaser or purchasers. Under this special or limited warranty deed, Lender will covenant
that Lender has not caused or allowed a lien or an encumbrance to burden the Prope ty and that Lender will
specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims
and demand of all persons claiming by, through or under Lender. The recitals in any deE d of conveyance will be
prima facie evidence of the facts set forth therein.
All remedies are distinct, cumulative and not exclusive, and Lender is entitled to all rem ?dies provided at law or
equity, whether or not expressly set forth. The acceptance by Lender of any sum in pal, ment or partial payment
on the Secured Debts after the balance is due or is accelerated or after foreclosure proc aedings are 'filed will not
constitute a waiver of Lender's right to require full and complete cure of any existing dc fault, By not exercising
any remedy, Lender does not waive Lender's right to later consider the event a default i1 it continues or happens
again.
13. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after the occurrence of an Event of Default, to the
extent permitted by law, Mortgagor agrees to pay all expenses of collection, enforcemer t, valuation, appraisal or
protection of Lender's rights and remedies under this Security Instrument or any other ilocument relating to the
Secured Debts. Mortgagor agrees to pay expenses for Lender to inspect, valuate, of praise and preserve the
Property and for any recordation costs of releasing the Property from this Security lnstru. nent, Expenses include,
but are not limited to, reasonable attorneys' fees after default and referral to an attorney not a salaried employee
of Lender. These expenses are due and payable immediately. if not paid immediately, •:hese expenses will bear
interest from the date of payment until paid in full at the highest interest rate in effect as )rovided for in the terms
of the Secured Debts, In addition, to the extent permitted by the United States Bankruptcy Code, Mortgagor
agrees to pay the reasonable attorneys' fees incurred by Lender to protect Lender's rights and interests in
connection with any bankruptcy proceedings initiated by or against Mortgagor.
14, ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this sectior
means, without limitation, the Comprehensive Environmental Response, Compensation ar
42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinance:
general opinions or interpretive letters concerning the public health, safety, welfare, env
substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous mat
contaminant which has characteristics which render the substance dangerous or pote
public health, safety, welfare or environment. The term includes, without limitation, an
"hazardous material," "toxic substance," "hazardous waste," "hazardous substance," c
under any Environmental Law.
Mortgagor represents, warrants and agrees that:
A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardoi.
located, stored or released on or in the Property. This restriction does not appl'
Hazardous Substances that are generally recognized to be appropriate for the normal
the Property.
13. Except as previously disclosed and acknowledged in writing to Lender, Mortgago
been, are, and will remain in full compliance with any applicable Environmental Law.
C. Mortgagor will immediately notify Lender if a release or threatened release of a Haz.
on, under or about the Property or there is a violation of any Environmental Law con
such an event, Mortgagor will take all necessary remedial action in accordance with an
D. Mortgagor will immediately notify Lender in writing as soon as Mortgagor has reasc
pending or threatened investigation, claim, or proceeding relating to the release or tl
Hazardous Substance or the violation of any Environmental Law.
Shawn Gilbert
Wyoming Mortgage
WY/ 4 XPTQLMAN00000000000674055040814N Wolters Kluwer Financial Services 1996, 2014 Dankera Syst tmsw
II11(1111 U J00 111111111111111111101111I81u1 ?1111111
(1) Environmental Law
d Liability Act (CERCLA,
court orders, attorney
ironment or a hazardous
anal, waste, pollutant or
itially dangerous to the
substances defined as
r "regulated substance"
s Substance is or will be
to small quantities of
use and maintenance of
and every tenant have
irdous Substance occurs
:erning the Property. In
r Environmental Law.
n to believe there is any
ireatened release of any
Page 4
04/08/2014 13:41 3078850002
BANK OF STAR VALLEY PAGE 06/16
15, CONDEMNATION. Mortgagor will give Lender prompt notice of any pending or threatened by private or
public entities to purchase or take any or all of the Property through condemnation, ernint nt domain, or any other
means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or
claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a
condemnation or other taking of all or any part of the Property. Such proceeds will be c rnsidered payments and
will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any
prior mortgage, deed of trust, security agreement or other lien document,
16. INSURANCE. Mortgagor agrees to keep the Property insured against the risks reason tbly associated with the
Property. Mortgagor will maintain this insurance in the amounts Lender requires. This insurance will last until the
Property is released from this Security Instrument. What Lender requires pursuant to the preceding two sentences
can change during the term of the Secured Debts. Mortgagor may choose the insurance company, subject to
Lender's approval, which will not be unreasonably withheld, All insurance policies and enewals shall include a
standard "mortgage clause" for "lender Toss payable clause endorsement that names Ler der as "mortgagee" and
"loss payee If required by Lender, all insurance policies and renewals will also include an "additional insured"
endorsement that names Lender as an "additional insured If required by Lender, Mortc agor agrees to maintain
comprehensive general liability insurance and rental loss or business interruption insurance in amounts and under
policies acceptable to Lender. The comprehensive general liability insurance must name Lender as an additional
insured. The rental loss or business interruption insurance must be in an amount equal to at least coverage of one
year's debt service;and• required -escrow account deposits (if agreed to separately in writir g)..
Mortgagor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will
be applied to restoration or repair of the Property or to the Secured Debts, at Lender's of tion, If Lender acquires
the Property in damaged condition, Mortgagor's rights to any insurance policies and proc zeds will pass to Lender
to the extent of the Secured Debts.
Mortgagor will immediately notify Lender of cancellation or termination of insurance. If Mortgagor fails to keep
the Property insured, Lender may obtain insurance to protect Lender's interest in the Property and Mortgagor will
pay for the insurance on Lender's demand. Lender may demand that Mortgagor pay for tie insurance all at once,
or Lender may add the insurance premiums to the balance of the Secured Debts and cht rge interest on it at the
rate that applies to the Secured Debts. This insurance may include coverages not original) required of Mortgagor,
may be written by a company other than one Mortgagor would choose, and may be writ en at a higher rate than
Mortgagor could obtain if Mortgagor purchased the insurance. Mortgagor acknowledges aid agrees that Lender or
one of Lender's affiliates may receive commissions on the purchase of this insurance.
17. ESCROW FOR TAXES AND INSURANCE. Mortgagor will not be required to pay to Le )der funds for taxes and
insurance in escrow.
18. WAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating
to the Property,
19. APPLICABLE LAW. This Security Instrument is governed by the laws of Wyomin a, the United States of
America, and to the extent required, by the laws of the jurisdiction where the Property h s located, except to the
extent such state laws are preempted by federal law,
20. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS, Each Mortgagor's obliget ons under this Security
Instrument are independent of the obligations of any other Mortgagor. Lender may sue each Mortgagor
individually or together with any other Mortgagor. Lender may release any part of the Property and Mortgagor will
still be obligated under this Security Instrument for the remaining Property. 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 M >rtgagor from the terms
of this Security Instrument. The duties an benefits of this Security Instrument wi I bind and benefit the
successors and assigns of Lender and Mortgagor.
21. AMENDMENT, INTEGRATION AND SEVERABILiTY, This Security Instrument may not be amended or
modified by oral agreement. No amendment or modification of this Security Instrument is affective unless made in
writing and executed by Mortgagor and Lender. This Security Instrument and any other documents relating to the
Secured Debts are the complete and final expression of the agreement. If any provision of this Security Instrument
Shawn Gilbert
Wyoming Mortgug«
WV/ 4XPTOLMAN00000000000674066040814N Welt= Kluwer Financial Services'. 1996, 2014 Bankers syat. ms"
111141111p 1 111111111 11111,111111111,11111)11 l 11111111111,1111111 111
Page 5
04/08/2014 13:41 3078850002
is unenforceable, then the unenforceable provision will be severed and the remaining provisions will still be
enforceable.
22. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The
section headings are for convenience only and are not to be used to interpret or define tl terms of this Security
Instrument.
23. NOTICE, ADDITIONAL DOCUMENTS AND RECORDING FEES. Unless otherwise regt ired by law, any notice
will be given by delivering it or mailing it by first class mail to the appropriate party's adu Tress listed in the DATE
AND PARTIES section, or to any other address designated in writing. Notice to one Mort aagor will be deemed to
be notice to all Mortgagors. Mortgagor will inform Lender in writing of any change in Mortgagor's name, address
or other application information. Mortgagor will provide Lender any other, correct and complete information
Lender requests to effectively mortgage or convey the Property. Mortgagor agrees to play all expenses, charges
and taxes in connection with the preparation and recording of this Security Instrument. N ortgagor agrees to sign,
deliver, and file any additional documents or certifications that Lender may conside necessary to perfect,
continue, and preserve Mortgagor's obligations under this Security Instrument and to confirm Lender's lien status
on any Property, and Mortgagor agrees to pay all expenses, charges and taxes in conned ion with the preparation
and recording thereof. Time is of the essence.
SIGNATURES,. By signing,. Mortgagor .agree.s .to...the.terms and covenants contained in this. Security.lnstrurrment.
Mortgagor also acknowledges receipt of a copy of this Security Instrument.
MORTGAGOR:
awn Gi aert
Individually
Shawn Gilbert
LENDER:
The Bank Of Ste Valley I
(1,
By
Marcus V leber, Vice President
Date
BANK OF STAR VALLEY PAGE 07/16
YigfiY
(,C C/ Date 7 I
au a Gilbert
Individually
Date (-i� t --1
Wyoming Mortgage
WY/ 4XPT0LMAN00000000000674055040614N Wolters Kluwer Flnene.i .1l Services e1996. 2014 Banker Syr tam ^.T"
IIimHnII( Illllllllllllllyjlllil (Illlillhlll Nlillllllllglll l( NNIIIINIIjIIIp11111bIIIIIIIN II
Page 6
04/08/2014 •41
3078850002
M ENT, p
OF ✓tSelikku C.OviA OF 141-A ss.
`ent was aCkhgwledged before me this 114 day of Ap I s l dAQ 1 1 by
ert spau e Gilbert, and Laura Gilbert spouse of Shawn Gilbert.
„sbrnrn-ission expires:
BANK OF STAR VALLEY PAGE 08/16
(Notary Public)
(Notary Public)
(Le der Acknowledgment) i
OF 11
v,LC,dt -c t L c`� OFD y i�C- c���� ss,
This instrument was ackn wledg before me th P
Marcus Weber as Vice President of The Bank Of Star Valley.
My commission expires: C
f 2-- Ia,
NOTARIAL SEAL
LINDA A. RICE, NOTARY PUBUC
TAMAQUA, SCHUYLKILL COUNTY
MY COMM N EXPIRES JOINE 2 it
mso
NCDtCt'v r't1fSL8
�!{ir STATE OF
1'43M ;11G
MY COMMISSION EXPIRES MARCH 13, 2018
Shawn Gilbert
Wyoming Mortgage
WY/ 4XPTOLMAN00000000000674055040814N Wolters Kluwer Financial Services 0 1996, 2014 Bankers Sys ems
1111111,1111 N�IIn�IAII1I1if�IIIII��f1Nh 1 L I1111IOIINN II 1N1�flIiNH�I
2U 6/ by
Pape 7
04/08/2014 13:41 3078850002
EXHIBIT "A"
BANK OF STAR VALLEY
PAGE 16/16
Lot 33 of Nordic
Instrument it
N�! No. 3, Lincoln County,
7G 8Z0 of he records of the Lincoln ,C'ountyr i the official plat filed on
r�prs {7,19.3