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HomeMy WebLinkAbout976674NORTHERN TITLE CO. ::1 856 THANE, WY 83127 "1 1 q 1- 1--01 0/e 976674 5/16/2014 2:24 PM LINCOLN COUNTY FEES: $36.00 PAGE 1 OF 9 BOOK: 832 PAGE: 607 MORTGAGE JEANNE WAGNER, LINCOLN COUNTY CLERK 1111111111111111111111111111111 11111111111111111111111111111111111111111111111 'S0'0:0e AQVe Thi Litie.F.Of'ROUNitibgda b4i 7#41010. 1Iie fig6` of tfiN MoltSte Metreftent) Is 014 15, 414. The parties arid their aqdres MORTGAGOR. SIMPSON RENTAL PRO "L y9 r 9 ,04 Linited Liability g`" PC 4.01P,a P -11 .10 04# VALLEY .traTiitald':qra existing under the laws of Wyoming Washir4fon P79. IPPKR "Aftdn,ANY 81:10 r r. A 6 CON VEYANCE p and vary 12le.9Onpidefkicin, consideration, re and -pp iTency of Wi ,and to secure the Secured Debts and Mortgagor 's performance under this Sean* Instrument, Mortgagor does Alereljy want Uegainf'dobvei, mortgage and warrant to Lender, with the power of sale, the foliowing described dowo*ii Aftoolho hereto O'nElrfiade a 'Ott here 'Of The property is iOe Cod6ty..a1.214) Wright Styeet, ThAglie, Wyoming 83127 17, vith. all rights ea sements appurtenances royalties ii116041,4;01 ri oil water and ripa rights, q,4151,1 061:1:V ?f' stock, lir:1514 f ;$1,r ';119:0Altri3O06 to crop produce?s ard all exlstirig and future or at any time iri the future, be -part of the_re4l...egtafe- described 1,41V i -Property) This Security Instrument will remain in, effect until.; the ,etwed- alt uncerlying qgraeniotifs,.h40:An40, terminated in •vWng ,j ,LeWdbit. 'V' SiippIi5W;Re'nfarProliertict. LtC WlicirnO9Natrfgage r Act ?07*.s1 7. MAPCXAMERA?000.0000000,06/4p0 #91TON,K1U)Npr„finandial Services 0 1966, 2014 Bankers. $ystpmsT.!.. 411111111111111111111011111K 7 I IIIIIN111111111111111111111110111111111 I 0 1 1 7 0 Pt 4' 1- •Page 1 2. SECURED DEBTS. The term "Secured Debts" includes and this Security Instrument will secure each of the following: A. Specific Debts. The following debts and all extensions, renewals, refinancings; iti _adificdations and replacements. A promissory note or other agreement, No 01704497, dated May 15,,,2'014 'froni'Mortgagor to Lender, with a loan amount of $68,000.00. B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security 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 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. 5. 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 Tien, 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. 6. 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 Tien, encumbrance, 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. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an entity other than a natural person (such as a corporation, partnership, limited liability company or other organization), Lender may demand immediate payment if: A. A beneficial interest in Mortgagor is sold or transferred. B. There is a change in either the identity or number of members of a partnership or similar entity. C. There is a change in ownership of more than 25 percent of the voting stock of a corporation, partnership, limited liability company 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 Security Instrument. 8. WARRANTIES AND REPRESENTATIONS. Mortgagor makes to Lender the following warranties and representations which will continue as long as this Security Instrument is in effect: A. Power. Mortgagor is duly organized, and validly existing and in good standing in all jurisdictions in which Mortgagor operates. Mortgagor has the power and authority to enter into this transaction and to carry on Mortgagor's business or activity as it is now being conducted and, as applicable, is qualified to do so in each jurisdiction in which Mortgagor operates. B. Authority. The execution, delivery and performance of this Security Instrument and the obligation evidenced by this .Security Instrument are within. Mortgagor's powers, have been duly authorized, have received all necessary governmental approval, will not violate any provision of law, or order of court or governmental agency, and will not violate any agreement to which Mortgagor is a party or to which Mortgagor is or: any of Mortgagor's property is subject. C. Name and' Place of Business. Other than previously disclosed in writing to Lender, Mortgagor has not changed Mortgagor's name or principal place of business within the last 10 years and has not used any other Simpson Re P Wyoming Mntal ortgage roperties LLC WY/4XXAMERAZ0000000000067405 1 051 514N Wolters Kluwer Financial Services ©1 996, 2014 Bankers Systems"' 111110 11111 7 I10110110 4 4 0II 11111110 11IIIII I11111 2 101111 1 41110 II III 11 11 1 1111 0110 2 1111;1111111111 0 1 4 10111111 7 /u 0 5 5 i 1 Page 2 trade Orjictitioua Without Lender's prior written consent, lylortgagcir does not and will not use any other namp and will preseve ,M.9r049.0r'A existing name tr45kP PO..rr0.0 4P0 .PROP :0101:19AL41-TA13,ATIQN0 1,4I ,0'1041\tAN.D..APPR41.PAL. 1611 040r will keep the iproiie,.rty.inOOOtl;OOklifkOn. and mak e-all repairs that are teesOnA* n -Mortgagor .wi1,1.0orcOmmit.or allow any waste, or .clatsrlcitation ;of the ProPerty. INtertgeOor Will‘keed..the PrOperty,.free...Of noxious weeds and drasaaa, Mortgagor agrees that The nature of the oCC401)...and use will ..riot substantially change without Lenders prior ,writteri Cbrisent. Mortgagor will riOt parrnit any change in any liCenae., restrittive covenant or easeiliient.Wit Le01er's prior written cOnaent. Mortgagor iII notify Lender Of all demands, .proceedings, caims and actions .against Mortgagor, and of any :16e0 ori eettiige to the•PrOPeiti No portion of the Property witi be reniOved, dernolisheci or itiate.ria* altered Without Lender's prior written consent except that MOhgagor has the right to remove items of pers.onat•Property comprisjPg, a _part of the Property that aftiP worn: Or oczbaglete, provided 'MO' s1101'130teorial prOperty is replaced :With Oner p.ropertY least equal In' value xo; xteLraiglaced!.0e,r0Onaki:irbperty, free from 'any title retentigh device; aeckitylaOreernent or .other enctiMbradce..' :$111.,11.:reola_cernent of per PraOrtY. Willf.ba subject to the SeeffOriti,/...intetestcreated.bY ••li/fOri'deOa will nbt 'without Lender's prior 'written. o,difserit. Lend#f or Lender's ants rriay, at Lender's optioh, after the fxrdkeifY at any reasonable time and frerfuericy for i4eCting;..valqatift, or apaisin the '.171 Lender. wkOiNfe. WitOagor notice at the time of or before an •On-Sits iispection, vaVATI.O.1i; or appraisal for OriVinb 110 'sc111,14fle'' or otherwise specifying a reasonable pkirPose. Any inspection, valuation or appraisal of the PrOtiefty foftender's..beriefit-afid 1■NortgpgovWill; in no way rely on Lender's ifiSoeetiOA..vilatiOn or appraisal fcSr it tiWri..burPOse., excebt. as 1Q AUTH9RTY TO PEFOR!I If Mprtgagor fells to ,aerfoirn eny dOty,. or en :the .COvenants cofiteihea.ih: this may, 14159iit 1_elker as..Attotay Sibii Mine or :04Y ,an'Y afti COI nebsry for berf4nian'Oe,...,i righ't tO.Parfortn kr:WirtgeOdt viJI not Create an obligation tOiperfdrfh., and Lender'S.lailUrefO will not preclude Of other ilglifa tridr the IK or tfifS'settifitViihWurnerit.. If any construction on is dis.cOnfinued or not carried on in _a ieespitahie manner, 'Lender may take all ateps necessary to protect Ledder's 'security interest in the 'Property, inglOdinozcomOletion Oft6e DEFAULT• will be in default if any ii'f.'.44falfc0iri0.•.661...its.(kno‘:saParataly and •collectively as an Event of Defavy) faills'to Make. .0 pynent ii full rskigh B ;17% In sqIv ency !ty 1 41* 90 .cy. The daath, djsoIutioi or ihsekenpy of, •appornmeptsv a roceiver by or on behalf of, 00iPAtigri..pf any 4eLtor relief 1 9*,..tb# :40i91,imOtIt for ltiq:.bg#4g,',0 by o qn behalf :ef.„ the vaiirit4ry or ...irioNidiY„ terriraon of existence by, or the ary Pr000stlinvunder any 15.reseht.:01r...4itiffe fedeaI or <StafainsOtvOnOY,.:barikivotOy, ia6(6 6611. or',dehtor. relief I.aw,by or gatrst M.00740264r,130rroWAr, or .elwr or guarantor this Security Instrument any "tiai. Willi, Lender. C Wrifedi idiaatilCiefe reorganizes eri'dS buSrri e es or oxistorite, or a partner. or AajoritY:Own4:dias• or is deblered:10011wiiiobrnpeteht: D..,,failurer to Perfor61 Mbi'tgago'r fails to ISerfertri any Condition 'Or to keep any promise or Covenant' Of this $0Curity I nStrclin'e nt. default 066O6 co'der ihO t of 4ni:Ofher 1Aeri7t teNtir(64.4. is in default t? h-Lehder. n, staterhAnt .r Otokiid any e' firiarii,a1:'• information 0.41 00,9( thAK6S .1bat ViAr$.1.0,:icpitaik, or porrOals, a:rater:lel fact att110tiMO i ia PrOVided.' 14 4141:7400%. :Off ga01-2. fails gktiSt. oY ei$04146V:fiaPiAit: 1 Forfeiture .nwiArgtferty is used a lilappq.r...or fOr a POrpOse that heatens 660fIS'Oation..13y: a legal authority J N" .1c)lor'44 "6)14rt0S:Wort6a66r"g dame an adabti$1 Lender before making such a chanOe.. aimpOri, ag.ii#:frgortit 4;q4N:i 7. v` .;ANY/4X?(AMOFW:00.009QOPOSaciPkal §ervices (61 aeO 2014 Bankers SysternsTM Page 3 1$1111119411P10.141)111.111.11111110.1!111,11011101:01114111V: •o9i K. Property condition of default, as it relates to the tnsfer �f 'the Property io subject 'th the restrictions cbntaihed9nthe DUE/]N.SALE,aeotion' L, Projierty Value. .Lenderdetermines in good. faith that the value of the Property has declined orisimpaired: M. Material Change: u�' is a material chande in MortgagOre•buaineaS; N. InSecurity. Lender in good faith, that a material adverse change has OccUrred MOrtgagOr's finandial condition from the COnditiona aet forth in'MOrtgagor's Most redent financial statement befOre the:date of this Security Instrument or 'that the proapect for payment or Performance of the SedUred Debta ia irribeired for any ree§on. 12: REMEDIES. On or, after the occurrence .of an Event of Default, Lender may use any and ,all remedies„Lender has under state •or federal law in any document relating to the Secur,ed Debts, including,,rithout limitation, the power to :sell:the Property. •Any :amounts advanced on Mortgagor's behalf will be immediately .due and,,may.,be added...to the balance owing under the SecuredDebts. Lender may make a claim for any and all insurance .benefite or refunds that may be available on Mortgagor's default. Gubj»ctto any right cure, required time schedules ofany other notice rights Mortgagor may havp..under federal and state law, Lender. nlay;m?ake all or any Aert.of the amount owing. by the terms Of the Se immediately due and foreclose. •this. Security. Intrum.ent in .a mannerproyided by Iaw u the occurrerce .of an Event of Defaultor anytirne thereafter. Upon any sale-of the' Property, Lender will make and deliver a special or limited warranty deed that convewthe property sold to the purchaser or purchasers. Under this special or limited warranty deed, Lender -wiJI.covenant that Londe[ Jlas not caused or allowed a lien or an encumbrance to burden the Property and hat specially warrant and defend the Propert rty'a title of the purchaser or purchasers at the sale against oUlaWf|b and demand .Of all persons Claiming .by, through or under Lender. The recitals in any deed of co'c"|'be phn0e tacie evidence Of the facts oetfo�h therein. Ali remedies are distinct, o and Lender is all equity,, whether or not-expressly set forth. The acceptance. by Lender of any sum o in payment ot p.artiatipaynient on the Secured Debts after the balance is due or is .accelerated or after foreclosure proceedings are tiled will, not constitute a Waiver of Lender's right to require full and complete cure of any existing default. By not eXeraiaing any reinedY, Lender does not Waive Lender's right to later Consider the event a default if it Continues Or hiPperis again. 13. COLLECTION ��S�AND On� after �e���m���an Event t� the 'extent protection bf,Lendera arid remedies under thia SedUrity Instrument or any other dOcUment -relating foqhe Secured 'Debts: MOttgagOr 'agrees to pay expenaes• for Lender to inspect, valuate, Sppraise'and pteaerYe. the Property and for any recordatitin -costs of releasingthe•Property froth this Security Instriunentr Experises immediately. If not paid immediately, these expenses will bear interest frorn the date of'paymentuntil paid In full at the highest interest:rate in..effect:as provided fOr in the terms of the Secured. Debts. Inaddition,:to the extent permitted by the United States Bankruptcy Code; Mortgagor agrees to pay the reasbnable 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-section, (1)'EnVironnlopte|:Law means, •withoutlimitation,,the Comprehensive Environmental Response, Compensation .and Adt,..(C,ERCLA, 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 thd publid health, safety, welfare, environtnent Or a hezatdous substance; and (2) Hazardous Substance Meana 'ariV tOxic, radioactive or hazardous rnaterial waate, pollutant or contaminant which has charecteriatics' which tender the subatance dangerous 'or potentially dangerOue to the public.health safety, welfare or environment. The term includes', without limitation, any substancee.defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance" under any Environmental Law. Simpson Rental Properties LLC Wyoming Mortgage wvwxxAmcnAz0000000000067405 1 15 14N Wolters an"/a!a°,v/"°" N |��������������U���������U����� �r pwges4 IVlrar'.:tgagbr,represents, warra'hts and agrees that: A;:Exiept,.as Vre■idusly disclosed arid acknowledged: in writing to. Lender, 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 complian with all applicable Environmental Law. :B .Except as previously disclosed and acknowledged iii ,writing to. Lender, NI. ortgagor has not and will not cause,, contribute to, or permit the release of any •Hazardous Substance on: the Property. .C..Mortgagor will arnme,•diatel'y :notify Lender if :(1 a:''release or threatened reIIeaee .of •.Hazardaus.:Substance occurs on, under or about the Property or migrates or threatens to migrate from .nearby. property;..or (21 there is 4 .viblatlon .qf any Environmental Law cc ncerning.: the 'Property. •In suck an e M.g ent, rtgagor will take all G i F eCessary ferne`di'aI action. in,accordance with Environmental Law. +I Except as p`reh/iously itiisclose'd and acknowledged. in: writing, to Lender, .Mortgagor has no knowledge •of or reason to• believe there is any bending: or threatened investigation, claim, or proceeding of any kind ,relating to .41)-;any Hazardous. Substance• located on, under or•. _about ;the Property; or (2'), any violation by;M 'tenant of a ny Environmental. Law. Mortgagor will. •immee(iately notify Lender in writing,as soon as Mortgagor has re,asbn ttg believe` there is: •any such: pending or'threaten`ed irivestig claim, op r roceeding:: in .-:such: an event; Lender NO the right, but not the obligation, to participate in any such proc .inclludin the'.righttp. ireceive c,opies anydo relating. to, such proceedings.; E. •.Excabti as previously disclosed and acknowledged ,iii Writing. to :Lender, Mortgagor and every :tenant have been,'a're"aiid v✓ilUreriiiajrr••iti full cbrnpliance with any applicable Eciv.iroiimental Laiw. •F. Except a§ :j5reviou'a,Ly disclosed arid acknowledg'e'd •in wrating to Lender, ti ere are •nb undergro'und.��storage tanks, 'private dumps or open wells located on or under the }Property and no such tank, dump •or well -will be ad''ded, unless Ientlerfirst ooriaer is in writing. •'G Mortgagor will 'regularly in the 'Property; monitor the activities and operations on the "Property, and confirm, tkaf all permits, licenses or approvals required 'by any applica E nvironmental '"Law" are :'itit tained and complied with. H Mortgagor will ,permit, or cause any •tenant to permit, Lender or Lenders agent to enter and inspect the Property and review all rec at a ny reasonable time to: deterrnine (1). t he•' existence, location And nature of anyHazardous Sub on under or about the 'Property, (2) the existence, Iocatlpn; nature, and •magnitude toy a'ny IH,Bzardous •'Sub"statice •tfiat has been released oil, ?iuhder or abOut..the Property; or (3)% whether or not MVtaftgagor 'Kr any tenarft.are'in cbmpliiance With applicab E nvironmental Law. 1 U,pon Lenders request and et afiy. time, 'Mortgagor agrees, at Mortgagors expen to engage a qualified H! 1 ,W.. -i X z.. t, environm engi to ,p'repa an environmental, audi of 't Pro and to submit the results of such audit to 'Leader. The choice of the environmental engineer who will:':perform such audit is subject to Lender's• approval.: C F. e 'i k, l 2 3[ Sq t Wi r J Lender has the right,. b not the obligation, to' perform a► y of Mortge'gor 1 s obligations under this section at Mortgagors expense ;•lu.,., P 4:. t n, �'w 1) As a consequence of. :any, brea of any representation, warranty or promise made .in this section, ort' or wi I` indemnify and' 'hol`d Lender and Lender's successor or as sign's harmless 'from •and a gainst :a1I losses, clai jns ;demands, liabilities, damage cleanup, response and rerriediation costs, penalties and expen F hV ftY f ,A` l l l 1 1 j 5,• incl w.tt Tout lirni n a ll costs of lit and attorneys fees, •which Lender and Lender s successors or S n l �'Yf! 91 .1 a j fl.r F J" t• 11 a as sighs may sustain, and O at• bender' s discretion, Lender may release this 'Security Instrument and in. :return Morfghagor.wr p rovide Lender with collateral of at least eaiil value to'=th'e Property without prejudice to any of Len'der's rights under -this. S ecCir„ity l i L Notwithstanding, any Jof the language contained in this Security Instrument ;to the contrary, the terms-of this section will survive any foreclosure or satisfaction .of this •Security Instrument regardless .of :any passage of title' to Lender or any disposition by ,Lender of any orall of the.. Property Al anal defensesto'the,contrary- are..hveret,�y, waiverl, n c 15. �COND Mortgagor will g Lender prothpt ;noticeOf'any Pending car threatened. action, by:•private-';or '.public entities or purohase or take: any or all�of•`the Property through condemnation, eminent�domain, or any Other jeans aVI `tga'gor aiifhorizes Lender to••intervenef Mortg'agor's riam :in: any the- above. described• actions;or Simpson ;Rental ProRerUgs. L•LC Wyomii 9.0400 'age WY/ 4XXA,{ VIE ,051051.,5 s i r -0 ;y .y. Wolte s Financial Services °1996, 2014 Bankers Systeme' 1111111 111111111111111111ppipI1111111111111111ip 1111 I I III II II IIIII III 10 II I11I Il1ll Page 5 claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages conriected'with a condemnation or other taking-of all or any part:: Property:. Such proceeds will be considered payments and will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of prior mortgage, deed of trust, security'agreement mother lien document. 16. INSURANCE. Mortgagor agrees to keep the Property insured against the risks reasonably 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 renewals shall include "a standard "mortgage clause" (or "lender loss payable clause endorsement that names Lender 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, Mortgagor agrees to maintain comprehensive general liability insurance and :rental loss or business interruption, insurance in amounts and under policies acceptable to Lender. The .cornprehensiveAeneral 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 writing). 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 option. If Lender acquires the Property in damaged condition, Mortgagor's rights to any insurance.policies and proceeds 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 the insurance all at once, or Lender may add the insurance premiums to the balance of the Secured Debts and charge interest on it at the rate that applies to the Secured Debts. This insurance may include coverages not originally required of Mortgagor, may be written by a. company other than one Mortgagor would choose, and may be written at a higher rate than Mortgagor could obtain if Mortgagor purchased the insurance. Mortgagor acknowledges and 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 Lender 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. FIXTURE FILING. Mortgagor gives 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. 20. PERSONAL PROPERTY. Mortgagor gives to Lender a security interest in all personal property located on or connected with the Property, including 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 (all of which shall also be included in the term 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. 21. APPLICABLE LAW. This Security Instrument is governed by the laws of Wyoming, the United States of America, and to the extent required, by the laws of they jurisdiction where the Property is located, except to the extent such state laws are preempted by federal law. 22. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgagor's obligations 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 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 Simpson n P Wyoming Re Morttal gage roperties LLC WY/ 4XXAMERAZ00000000000674051 05 1 5 1 4N Wolters Kluwer Financial Services 0 1996, 2014 Bankers SystemsTM 1 111111 1 11111111111111111P11 11;111E11E1k 011 1 Page 6 Such r. or any evidence of debt without MOrtdadOrs consent. Spon a change wiJI not release 'Mortgagor from the of this Spwity InstrUfnent. The duties and benefits Of this Security Instrument will bind end benefit the successors and assigns of .i,epder. and MOrtgagor. INTE.paAAM AND: SEVERABILiTY. This Security Instrument may not be amended or nip:4066'd by Ofet agteernefit. 'ilci or ModifiCetiori of this Sedulity instrument is effective unless made in Writing and executed by Mortgagor and Lender This SeCUrftylriStnirrient and any other diiaitrients relating to the Secured Debts are the ceriiiiiete and final expression of the agreernent. If any provision of this Security Instrument is unenforceable, then the unenforceable provision 'will. be severed- and Ahe wio, still be enforceable. 24. INTERPRETATIQN. Whenever uSed, the Singular includes the Oilier andthe; singular. The s,ectipn,headings are for convenience only and are not to be used to; of this Security InstrOefit'. 2 NPT.I.P5. •APDITI.c.iNAI;1?Pgi-4-- AND RECORDING FEES. Unless otherwise required by law, any notice *Ube ‘gNefi by fiXiVerjhg t or mailin it by first Cleeb tetett to the appropriate liarties address 'listed in the DATE -KKAVPXRTItS t441101', to any Wier address de in wilting. Notice to one Mortgagor will be deemed to .be ffeifia to IVON440 PjOefgaior will inform .Lender in W'ritin'g of any change in Mortgagor's name, address or Ofher abication infOrrhe'tioSh. =!mbiside will provide Lender any Other, correct and complete information Lender requests to effectively mortgage or convey the PrOPertV. ',MortgagOr agrees to pay all expenses, charge's and taxes jn.conne6ti andie4 of thiS Security Iristrurrient. :Mortgagor; agrees to „sign, deliver, and file any additional dii0,9tti .ehta or 4rtili.O0:064S. 'WO LeVer. may consider necessary to perfect, continue .and 9resgrie MOrtgaget's .obligatib4 cider this Security Ii4011rif and to confirm Lender's lien tatuS on any Property and Mortgagor agrees to pay all expense§, ctieOdeq and taxes in ConneCtiOn the pre0erat and *P'rq)11911)YrOttl. TiAe lie .0 Ihe, 00,epk. tiGNATtOftga;; t§'Y Ogrees to ilVe and '0:weber fOiktAit*;.in this Security InstrUment. M also' 4.khO*141..ge's 0:cojer( Of cool? Of this SeCutity InstrUrrient. MORTQAGOR: Simpson Reniel LLC i r:ri A 0, LENDER. The 6'4)(0 ate bale Vi00 Pesi :Date irag,?on Rental prep,artieslLC .Aly:eming Mortgagt' 1162.09:0,P49#40,900.00000.90.67,40.1.p51,514k k Services 0 1s46, Bankers ystarnsT.'" 'llillitoti.goiligliglii,g1114111,11111101.1g1, Page 7 ACKNOWLEDGMENT: OF This instrument was ac lf wledgsl' before me this l day of Devin Simpson and Darnell Simpson' as Member and Member of Simpson Rental Pr perties LLC. My commission expires: "5 Simpson al Properties LLC Wyoming Rent Mortgage ANJI TAYLOR NOTARY PUBLIC' COUNTY OF STATE OF ...LINCOLN; WYOMING MY COMMISSION EXPIRES AUGUST 3, -2017 (Lender Acknowledgment) C(k OF kL �i.Velb N OF This instrument was acknoldvledged \before me this 5 111 Anji Taylor as Vice President of The' Bank Of Star Valley. My commission expires: OF (Nota ublic) (Notary Public) PAM i4EBEKER COUNTY OF LINCOLN NOTARY PUBLIC STATE OF WYOMING MY COMMISSION EXPIRES MARCH 13, 2018 WY/4XXAMERAZ0000000000067405 1 05 1 5 1 4N' Wolters' Kluwer Financial Services ©1 996, 2014 Bankers Systems I III 11 1111101011111 0 111111111111 9 1111 111 V I II 111111 1 10 0 1 1 1 1 III 01111111 11111 1 1 IIII�IIIIIIII 0 1 7% 1 2 4 4 0 5 5 2 0 1 4 tJ by Page 8 NTL -67018 iJ11 A A PORTION OF THE PROPERTY AS REFERRED TO IN DEED RECORDED WITH DOCUMENT NO. 223616, IN BOOK 18PR, ON PAGE 431 AND A PORTION OF THE PROPERTY, AS REFERRED TO IN THE DEED RECORDED WITH DOCUMENT NO. 887362, IN BOOK 511PR, ON PAGE 482, ALL WITH THE OFFICE OF THE CLERK OF LINCOLN COUNTY, WYOMING, WITHIN THE SW'ANE% OF SECTION 23, TOWNSHIP 34 NORTH, RANGE 119 WEST, OF THE 6TH P.M., TOWN OF THAYNE, LINCOLN COUNTY, WYOMING, THE BOUNDARY AND ENCUMBRANCES BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT IN THE WEST LINE OF THE DANA PROPERTY, AS REFERRED TO IN THE DEED RECORDED WITH DOCUMENT NO. 0855104, IN BOOK 422PR, ON PAGE 196, WITH SAID OFFICE, SAID POINT OF BEGINNING BEING 2,314.68 FEET S 55 °33'41" W FROM LLOYD B. BAKER PE /LS 698, 1974 LOCATION FOR THE NORTHEAST CORNER OF THE NE% OF SAID SECTION 23, ALSO SAID POINT OF BEGINNING BEING 2,279.56 FEET N 54°32'17" W, FROM LLOYD B. BAKER PE /LS 698, 1995 LOCATION FOR THE SOUTHEAST CORNER OF SAID NE%; THENCE S 0 °44'45" W, ALONG SAID WEST LINE, 81.00 FEET TO A POINT IN THE NORTH LINE OF WRIGHT (HOPE) STREET AS DEDICATED AND DELINEAT-ED ON -THE- OFFICIAL PLAT OF MCKIM ADDITION AMENDED TO THE TOWN OF THAYNE, RECORDED WITH RECEIVING NO. 939030, WITH SAID OFFICE; THENCE N 88 °14'36" W, ALONG SAID NORTH LINE, 165.59 FEET TO A POINT IN THE SOUTH LINE OF THE PRESTON LANDS, LLC PROPERTY, AS REFERRED TO IN DEED RECORDED WITH RECEIVING NO. 937583, IN BOOK 689, ON PAGE 521, WITH SAID OFFICE; THENCE NORTHERLY AND EASTERLY, ALONG SAID SOUTH LINE THE FOLLOWING COURSES AND DISTANCES: N 0 °39'06" E, 44.63 FEET; S 89 °26'42" E, 34.71 FEET; N 1 °00'21" E, 34.27 FEET; AND S 88 °50'38" E, 130.77 FEET, TO THE POINT OF BEGINNING.