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HomeMy WebLinkAbout976681228985 alliance Title Escrow PO Box 1367 Kemmerer WY 83101 MORTGAGOR: BROWN COMPOUND PROPERTIES LLC A Wyoming Limited Liability Company -1,1. •PO.Box 276 Thayne, WY.83127 See Exhibit "A" hereto attached and made a part thereof 976681 5/16/2014 4:00 PM LINCOLN COUNTY FEES: $36.00 PAGE 1 OF 9 BOOK: 832 PAGE: 653 MORTGAGE JEANNE WAGNER, LINCOLN COUNTY CLERK 11111111111111111111111111111111111 11111111 Space Above This Line For Recording Data MORTGAGE III IIIIII VIII IIII IIIIIIIIIIIIIIII�IIII Iupp1 JI1111I I gip il III.. 0 2 7 0 2 7 4 9/ 1 0 5 0 VIII 11111111 iii 111111 DATE AND PARTIES. The date of this Mortgage (Security Instrument) is May 2, 2014. The parties and their addresses are: LENDER: :.:THE:BANK OF,STAR VALLEY Organized .and existing under the laws. of Wyoming :113 .Petersen Parkway P.O. Box 928. Thayne, WY 83127 1. CONVEYANCE. For good and valuable consideration,, the .receipt: and sufficiency of which is acknowledged, an:d to%,:secure the Secured Debts and Mortgagor; s performance under this .Security Instrument, 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 132 S. Main Street, Thayne, Wyoming 83127. Together with all rights, easements, appurtenances, royalties, mineral rights, oil and .gas rights, all water and riparian rights, wells, ditches and water stock, crops, timber, all diversion payments .or third party payments. made to. crop producers and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described (all referred to as Property). This Security Instrument will remain in effect until the Secured Debts and all underlying agreements have been terminated in writing by Lender. Luke R. Brown Wyoming Mortgage WY /4XXXLHYDE000000000006740540502 4N Wolters Kluwer Financial Services ©1996, 2014 Bankers Systeme" 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, modifications and replacements. A promissory note or other agreement, No. 02702749, dated May 2, 2014, from Luke R. Brown and Ashley B. Brown (Borrower) to Lender, with a loan amount of $80,000.00 and maturing on May 15, 2029. B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security Instrument. 3.. PAYMENTS..:,i:;Mortgagor. agrees..that all payments, under the Secured Debts will be. paid when ..due and in accor,.dance: With the_terrn.s of the Secured Debts and, this Security Instrument. .••NON OBLIGATED MORTGAGOR, Any Mortgagor, who is not also identified as a Borrower in the.'Secured 'Debts section of this Security Instrument and who signs this Security Instrument, is defined as a cosigner for purposes of the Equal Credit Protection Act and the Consumer Financial Protection Bureau's Regulation B, 12 C.F.R. 1002.7(d)(4), and is referred to herein as a Non Obligated Mortgagor. By signing this Security Instrument, the Non Obligated Mortgagor does mortgage and assign their rights and interests in the Property to secure payment of the Secured Debts, to create a valid lien, to pass clear title, to waive inchoate rights and to assign earnings or rights to payment under any lease or rent of the Property. However, the Non Obligated Mortgagor is not pers,onally. for.,the Secured Debta by virtue.:of signing this Security Instrument. Nothing in_.this section shall be construed to modify or otherwise affect the Non Obligated Mortgagor's obligations, if any,:'that were separately made. with Lender in a separate agreement and duly signed by the Non Obligated Mortgagor in th.e context of that separate agreement. 5. PRI.O.R 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 .i ote 'or agreement by the lien docurnent•without Lender's' prior written consent: 6, CLAIMS AGAINST TITLE .Mortgagor will pay all taxes, assessments, :liens, encumbrances., 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 th:e lien of this :Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 7. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt to :be immediately .due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, 'transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law, as applicable. 8. 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: 9. WARRANTI AND ,REPRESENTATIONS.. Mortgagor makes to. Lender the following warranties. and representations which will continue as long as. this Security Instrument is in effect: L uke R. Brown Wyoming Mortgage WY/ 4XXXLHYDE00000000000674054050214N Wolters Kluwer Financial Services °1996, 2014 Bankers SystemsTu Page 2 1I IIll11I1010I110111111111110RI�� ijJ I� 1101 II 11 1 11111111 11 01 Ill [11 02702749 1 2 4 4 0 5 0 1101 2 2 0 1 4 110 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: N`aihe.`ar d 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 trade.or fictitious.name. Without.Lender'.s prior written consent; Mortgagor does .not and will not use_any other name.and will preserve Mortgagor's existing name, trade names and franchises. 10. PROPERTY CONDITION, ALTERATIONS, INSPECTION, VALUATION AND APPRAISAL. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor will not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of. the occupancy and use will not .substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender. of all demands, 'proceedings, ;claims, andaction's against Mortgagor, and of any loss or damage to the Property. No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent except that Mortgagor has the right: to remove items of personal property comprising a part of the Property that become worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value to the replaced personal property, free from any title retention device, security agreement or other encumbrance. Such replacement of personal property will be deemed subject to the security interest created by this Security Instrument. Mortgagor will not partition or subdivide the Property without Lender's prior, written consent. Lender or Lender's agents may,. at Lender's .option, enter the .Property at any reasonable time..and .frequency for the purpose of, inspecting, valuating, or appraising the Property. Lender will give Mortgagor notice at the time of ,.of. liefore °an' on =site "`in "s 'ection, 'valuation, °or a raisal for on= oin du& dill nce' or otherwise s `ecif in a p pp 9' 9" e 9 p Y g reasonable purpose. Any inspection, valuation or appraisal of the Property will be entirely for Lender's' benefit and -,Mortgagor Will-in- no way rely on Lender's inspection, valuation -or appraisal for its own purpose, except as otherwise provided by law: 11. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be 'performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. Lender's right to perform for Mortgagor 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 Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the .Property, including completion of the construction. 12. DEFAULT. Mortgagor will be in default if any of the following events (known separately and collectively as an Event of Default) occur: A. Payments. Mortgagor or Borrower fail 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 by or on, behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or. future. federal or state insolvency, bankruptcy, re.organization,. composition or debtor relief law by or against Mortgagor, Borrower, or any co- signer, endorser, surety or guarantor of this Security Instrument or any other. obligations Borrower has with Lender. C: 'Business Termination. Mortgagor merges, dissolves; reorganizes; ends its-.business or existence, or a partneror majority owner dies or is declared legally incompetent.. Luke R. Brown Wyoming Mortgage WY/ 4XXXLRYDE00000000000674054050214N Wolters Kluwer Financial Services ©1996, 2014 Bankers Systems 1 1110 00 2 7 01 II1110V0 2 III 0 9 IIIIIIVIII 1 2 11III4 4% IIIIIII11110 5 I I I0 III 2 2 01111 1 III11III 4 7 4 Page 3 D. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenantof this Security Instrument. E. Other Documents. A default occurs under the terms of any other document relating to the Secured Debts. F. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has with Lender. .G. Misrepresentation. Mortgagor makes any verbal, or .written statement or provides- any financial information that is l.lntrue,,inaccur or conceals a material fact at the. time it is made or provided. Mortgagor... fails; to satisfy or appeal „any judgment against Mortgagor.,. h Forfeiture: '-The- Property.is:use:d 'in ..a. manner or for a purpose that threatens confiscation J Nathe 'CHanger Mortgagor` changes' Mor'tgagor's narrie or` sastirnP s en.`additionaI name Without'nbtifyin'g Lender before making such a change. K. Property Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money 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 declined or is impaired. M. Material Change. Without first notifying Lender, there is a material change in Mortgagor's business, including ownership, management, and financial conditions. N. Insecurity. Lender determines in good .faith that a material adverse change has occurred in Borrower's financial condition from the conditions set forth in Borrower's most recent financial statement.beforethe date of this Security Instrument or that the prospect for payment or performance of the Secured Debts is impaired for any reason. 13. 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 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 immediately due and may be 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 terms of the Secured Debts immediately due and foreclose this Security Instrument in a manner provided by law upon the occurrence •of an Event of .D'efau'It''or 'anytim& thereafter: Upon any sale Of the Property, Lender will make and deliver a 'special or limited warranty 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 Property 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 deed 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 remedies provided,at law or equity, whether or not expressly set. forth:.. The acceptance by Lender of any sum ,in,pay.ment or :partial `o'n the'Se iTedTD'ebts' after the balance is%due 'or is accelerated or after foreclosure:. proceedings are -filed wilio constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising any remedy, Lender does not waive Lender's right to later consider the event a default if it continues or happens again. 14. 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, enforcement, valuation; appraisal or protection of Lender's rights and remedies under this Security Instrument or any other document relating to the Secured Debts. Mortgagor agrees to pay expenses for Lender to inspect, valuate, appraise and preserveg'the Property arid' for any .recordation costs of releasing the Property from -this' Security Instrument..: Expenses :include, but are not limited to, attorneys' fees, court costs and other legal expenses. These expenses,'are:ndue'and'payable ;immediately.sIf? not paid immediately, these.expenses, will. bear• interest from the. of paymentuntil in:.full at tbe"'highes.t:inter..est: rate in'effect as ,provided:for in the of the Secured Debts In addition, to the:,extent permitted by:''the United States ;Bankruptcy Code, .Mortgagor:agrees to paythe reasonable attorneys' ;fees incurred Luke R Brown W Mort WY/ 4XXXLHYDE00000000000674054050214N Wolters Kluwer Financial Services ®1996, 2014 Bankers Systems.”' I ill 1101001110IhIll11 o �111 11111111111111 ill 1111111111 II 11111 X1111 1111 0270274 9 1 2 4 4/ 0 5 0 2 2 0 1 4 Page 4 by Lender to protect Lender's rights and interests in connection with any bankruptcy proceedings initiated by or against Mortgagor. 15. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 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 the public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material; waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentiaNi dangerous 4o• the public health,• safety, welfare. or environment.' The term .includes, without..limitati.on,.:any substances °?defined as :'h.azardous..material, "toxic..substance,. ..hazardous waste, .hazardous. substance, ..ori regulated,substance under any Environmental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and 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 compliance with all applicable Environmental Law. B: Except as previously disclosed and acknowledged in writing to Lender, Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. C. "Mortgagor will immediately notify Lender if (1) or threatened release -of Hazardous. Substance occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial action in accordance with Environmental Law. D: Except as previously disclosed and acknowledged in writing to Lender, Mortgagor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Mortgagor or any tenant of any Environmental Law. Mortgagor will immediately notify Lender in writing, as soon as Mortgagor has reason to believe there is any such pending or :threatened investigation, claim, or proceeding. In such an event, tender has the right, but not the obligation, to participate in any such ..proceeding including •the right to receive copies of .any documents relating to such proceedings. E: Except as previously disclosed and acknowledged in writing to Lender, Mortgagor: and every tenant;.have been, .are and will remain in full compliance with any applicable Environmental Law. F.•.Except as previously disclosed and acknowledged in writing to Lender, there are no underground storage tanks private dumps or open wells located on or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. G. Mortgagor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and complied with. H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and:-review all records at any •reasonable. time• to deterrnine. (1) the existence, location: and nature of any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any *Hazardous Substance that has been released on, under or about the Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environmental Law. I. Upon Lender's request and at any time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified environmental engineer to prepare an environmental audit of the Property and to submit the results of such audit ,.to Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's approval. Lender has'the .right, but not the obligation, to perform:.any: of. Mortgagor's obligations .under section. at :Mortgagors expense. III 1101 io 11011111 II1111111 I I III IIIIII 1 111.111IIILIII 0 2 7 0 2 7 4 9 2 4 0 1 4 A'S:*;a roone4i ehce' Of any breach of any representation, •Warranty or prOrtiise: made `in thIS. °Section ;.r(•1:) `Mortgagor will 'indemnify and hold Lender and Lender's successors or •assigns harmless`:: frornr' and: against all los`ses;= clairris; demands, liabilities, damages, cleanup;•tespdnse'and remediation'costs, penalties and exp'enises, Luke R. Brown Wyoming Mortgage WY/ 4XXXLHYDE00000000000674054050214N Wolters Kluwer Financial Services ©1996, 2014 Bankers Systems' Page 5 including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Security Instrument and in return .Mortgagor will provide Lender with collateral of at least equal value to the Property without prejudice to' any of Lender's rights under this Security Instrument. L. Notwithstanding any of 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,ottitle r Lerider.ora any i.d.iSpOSitien •by:Lender any or all'.of: Property. :Any claims and "defense.s;;to.,;.th`e.contrary ar,`e' hereby waived. .,1'6.:'.CQNDEMNATION.."Mort a or.will ive o t r iotice of` any y endi or act on b'y:"rtvate`or public entities to purchase or take any or all of the Property through condemnation, eminent domain, or..any other means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above descril5ec146tio.ns or claims.' IVlorfgagor' aesign's.'t•o Lender ;the' proceeds of any .award or-claim' :for damages connected ivitli: a .condemnation' or°othertaking of all or any part of the 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 any prior mortgage, deed of trust, security agreement or other lien document. 17. 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 the .tern) of the Secured Debts.. Mortgagor may..choose .the' insurance •company, 'subject t.o Lender's approval, which will not be unreasonably withheld. All insurance policies and .renewals shall include a standard "mortgage clause" (or "lender Toss 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 "additi.onal :insured If .re.quired by Lender, Mortgagor agrees to maintain comprehensive general liability. insurance and rerital. 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 Toss or business interruption Insurance mustbe .inarr,amourit:equal'to•:at:l east '.icovera,ge.of,one':year':s, debt service, and required escrow account deposits agreed. to separately in writing). Mortgagor will give Lender and the insurance company immediate notice of any Toss. All insurance proceeds will be applied to restoration or repair of the Property or to the Secured Debts, at Lender's option..,.lf, Lerlder.;,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 intereston 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:: 18. ESCROW FOR TAXES AND INSURANCE. Mortgagor will not be required to pay to Lender funds for taxes .and insurance in escrow. 19. WAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating to the Property. 20. 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 the jurisdiction where the Property is located, except to the extent such state laws are preempted by federal law. 21. 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 Luke R. Brown Wyoming Mortgage WY/4XXXLHYDE0000000000067405405021 4N 0 2 7 0 2 7 4 9 1 2 4 4 0 5 0 2 2 0 1 4 Wolters Kluwer Financial Services ©1'996, 2014 Bankers SystemsTM Page 6 111 ACKNOWLEDGMENT. OF This instrument was ack Mark E. Brown as Managing Member of Brown Co My commis on expires: LuAncm H;:le -Comm NOTARY PLIBLUC `rO I0 7 ,c,`5 .3TAT :OF €.I i� ;:a E :WYOMING wledge fore me this {Jy r:s i .7ATiftE'SEiBRUARY7,20 (Lender Acknowledgment) OF i i i �s O F ss. `This instrument was a 4' owled•d before me t day of mp., Sharon L. Walker as Vice President of The Bank •f Star Valley. My com ission expires: R 05' Lu/1nr. H ydr.-rorum. NOTARY f'IlBI.IC CO1 P;'...:(0. STATE OF L;:�S `OLN '.hsl y YSr) WYOMING N?Y i'ONWIIS^r'01t E7GkiE FEBRUARY 7, 2015 pound day of roperties LLC. a% /7 by Luke R. Brow Wyoming Mo rtga WY/ 4XXXLH 0000000000067405 Wolters Kluwer Financial Services .1996, 2014 Bankers Systems,'" 1111111 111111 �110��� �����III IIIII III Il o llllll 100IU IIIIIII�111 III 0 2 7 1 2 4 4/ 0 5 0 2 2 0 1 4 Page 8 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 Mortgagor from the'terms of this Security Instrument. The duties and benefits of this Security Instrument will bind and benefit the successors and assigns of Lender and Mortgagor. 22. .AMENDMENT., INTEGRATION AND SEVERBI.L AITY. This Security Instrument, may not be amended or modified „by, oral agr No amendment or; modification of this Security Instrument is, effective unless made in writing and executed by Mortgagor and Lender. This Security Instrument and any other documents relatin.g„to the Secured Debts are the complete and final expression, of the agreement. if any provision of this Security,,,lnstrument unenforceable, .*then the unenforceable provision will be severed and the remaining provisions 'will still be enforceable. 23': INTERPRETATION. Whenever used, the singular includes the plural and the plural includes -the singularThe section headings are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. 24. NOTICE, ADDITIONAL DOCUMENTS AND RECORDING FEES. Unless otherwise required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one Mortgagor 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 pay all expenses, ,charges and taxes in connection with the preparation and recording of. this Security Instrument. Mortgagor agrees to.sign, deliver, and file any additional documents or certifications that Lender may consider necessary to .perfect, continue, and. preserve Mortgagor's obligations under this Security Instrument and to confirm Lender's :lien status on any Property, and Mortgagor agrees to pay all expenses, charges and taxes in connection with the preparation and recording thereof. Time is of the essence. :SIGNATURES-. By signing, .Mortgagor agrees to the terms and covenants contained in this Security'Instrument. Mortgagor also acknowledges receipt of _a copy of this Security Instrument. MORTGAGOR:. Brown Compound Properties LLC LENDER: By Mar: E. Brown, T r aging Member The Bank Of Star Valley Date By .4,/,9 -ltdKjalli Date aron L. Walker, Vice President uke R'.' Brown` Wyoming Mortgage WY/ 4XXXLHYDE00000000000674054050214N Wolters Kluwer Financial Services ©1996, 2014 Bankers SystemsTM 1I ll1110 2 7 101111011100 2 7 4 9' 2 4 4 111111111101111111 1j11i l hil p4111I 0 5 1 1 1 IH 1I0IM 0 2 hill 2 1 11111 0 4 l 1111111 Page 7 The Glacier Bank property, as referred to in the Deed recorded with Receiving No. 964488, in Book 785PR, on Page 856, with the Office of the Clerk of Lincoln County, Wyoming, located within the west Half of the Southeast Quarter 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 the Lloyd B. Baker PE/LS 698, 1995 location for the Northwest Corner of the Southeast Quarter of the Southeast Quarter of said Section 23; thence South 0 °40'08" West, along the West line of said Southeast Quarter of the Southeast Quarter of said Section 23, 471.95 feet to a Point in the North line of the East Side Canal Company property, as referred to in the Deed recorded with Document No. 138221, in Book 22 of Deeds, on Page 35, with said Office; thence Westerly, along said North line the following: North 65 °0 West 40.33 feet; North 76 °16'03" West 68.80 feet; North 81 °33'03" West 156.28 feet; North 72 °46'30" West 133.64 feet; and North 62 °05'52" West 116.02 feet to a Point in the Easterly line of U.S. Highway 89 (Main Street), as delineated on the Plat of Project No. NHP -010 -3 (62) and Project No. STPENP- 010-3 (67) combined, recorded with the Office of the Wyoming Department of Transportation; thence Northerly, along said Easterly line, the following: North 23 °58'53" West 331.58 feet to Station 1401 +17.8 Rt60; North 88 °43'43" West 11.07 feet to Station 1401 +17.8 Rt50; and North 23 °58'43" West 155.00 feet to the Southwest corner of the Lower Valley LLC property, as referred to in the Deed recorded with Receiving No. 946582, in Book 720PR, on Page 600, with said Office; thence South 89 °24'52" East, along the South line of said Lower Valley LLC property, the South line of the Myers property, as referred to in the Deed recorded with Receiving No. •924030, in Book 639PR, on Page 135, with said Office, and the South line of the Lower Valley LLC property, as referred to in the Deed recorded with Receiving NO. 946581, in Book 720PR, on Page 598, with said Office, 533.68 feet to a point in the West line of Hokanson Avenue, as delineated on the Plat recorded with Document No. 895989, Map No. 81 -I, with said Office; thence South 6 °05'51" East, along said West line, 115.11 feet to a Point in the North line of the Southwest Quarter of the Southeast quarter of said Section 23; thence South 88 °50'45" East, along said North line of said Southwest Quarter of the Southeast Quarter of said Section 23, 156.65 feet to a Southwest Southeast 1/16 S23, to the Point. of Beginning. LESS AND EXCEPT: The Town of Thayne, Wyoming-property, as referred to in the Deed recorded with Document No. 629471, in Book 22PR, on Page 665, with said Office. TOGETHER WITH and SUBJECT TO: The Right -of -Way Easement, as referred to in the Affidavit of Signature, recorded with Document No. 895974, as delineated on the plat of Survey for the Town of Thayne of Hokanson Avenue, recorded with Document No. 895989, Map No. 81- I, all with. said Office. TOGETHER WITH and SUBJECT TO: The 60 feet wide Right -of -Way Easement, as referred to in said Myers Deed recorded with Receiving No. 924030, in Book 639PR, on Page 135, with said Office. TOGETHER WITH and SUBJECT TO: The Distribution Easement for Lower Valley Energy, as referred to and recorded with Document NO. 874068, in Book 467PR, on Page 140, with said Office. TOGETHER WITH and SUBJECT TO: The Easement granted to True for Ingress, Egress and Underground Utilities, as referred to and recorded with Document no. 901955, in Book 564PR, on Page 795, with said Office. d ifekx4r1N-0 Authorized Countersignature (This Schedule A only when Schedule B is attached.) EXHIBIT "A" End of Schedule A