HomeMy WebLinkAbout977902:Space. Above This:.Line :For Recording Data..
6M O T. AG
:.(With Future Advance Clause).
DATE AND PARTIES. The date :of :this Mortgage (Security Instrument) is.
addresses are:
MORTGAGOR:
MCCLONE• ENTEiiFRISES, ;LLC,
An Oregon Lirnited :Liability Company
250 NW Franklin. Ave;• 40'1'
Bend, :OR 97.701
LENDER:
THE BANK OF STAR VALLEY
Organized and exsting under the laws of Wyoming
102 Greys Road.
P.O: .Box :3409
Alpine, WY. :831 28:
See Exhibit. "A" attached hereto and made .a.part hereof
977902 8/8/2014 4:20 PM
LINCOLN.COUNTY FEES: $36.00 PAGE 1OF 9
BOOK: '837 PAGE: 47 MORTGAGE
JEANNE .WAGNER, LINCOLN COUNTY CLERK
11111111111111 011111111 1111 1 1111111111111 11111 11111 11111 11111 1111 111 11111111111
20.14. The: parties and their
1. CONVEYANCE ::Forr.good and 'valuable consideratlan, 'the recejpt and? sufficiency .of whlct► 1s acknouvleciged;.
and•to.•secure the Secured.. Debts.• a nd Mortgagor's performance under this Security •Instrument; :Mortgagor does
hereby •grant, bargain °convey; mortgage :and :warrant to Lender; 'with ;the power =•:of sale, the .fo dosc.ribed:
Property:.
The property is located in County at Lots 138:& 139 Of Th e :Al pine. Villa Subdivisiori, Wyoming
B3128.
Together with all rights, .easements, appurtenances; royalties, mineral •rights, oil and gas rights; .all water and
riparian rights,.: wells,: ditches and water stock,. crops,.tirriber, .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 referred' to as Property). This Security
McClone Enterprises, LLC,
Wyoming Mortgage
WY/ 4XPTOLMAN00000000000675053090714N Wolters Kluwer Financial Services' *1996.. Banker, Systems
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Instrument will remain in effect until the Secured .Debts and all underlying 'agreements have been terminated in
writing by Lender.
2. SECURED DEBTS AND FUTURE.ADVANCES. 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: 03702297, dated August• 2014, from Mortgagor
to•.Lender, with a maximum credit limit of :$2,300;000.00.
B. Future Advances. All future advances from Lender to Mortgagor under the Specific 'Debts executed by
Mortgagor in favor of Lender after this. 'Security 'Instrument. If .more. than •one person signs .this Security
instrument, each that this. .Security. instrument• will secure elf future advances that are given to
'Mortgagor either individually or with•others who May not sign this Security Instrument, All future •advances are
secured by this Security Instrument even though all 'or:part may not yet be advanced. All future -advances are
secured as if made on' the date of•this Security Instrument.. Nothing in this Security Instrument Shall -constitute
a: commitment to make additional or'future advances in any amount: Any.: such, commitment must be agreed to
in a: separate .writing. In .:the event that::Lenderr:fails to prov. ide': ahy notice; :of' the .right of •rescission,
Lender waiVes any subsequent security interest:in the Mortgagor's :principal; dwelling that is 'created by this
Security Instrument, This •S•ecurity Instrument will not ,secure any other debt i Lender fails,.: with respect to
that other debt, to fulfiU any necessary requirements or conform to`any:imitations Of 'f Regulations• Z- and. X. that
are required for loans secured by the.Property:
C Sums Advanced, All 'sums :advanced and expenses incurred by .Lender under the 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 int.erest.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- wider any note or
agreement secured by the lien document without Lender's prior written ,consent:
5. CLAIIVIS AGAINST TITLE, .Mortgagor will :pay. .all :taxes, assessments liens;. encumbrances, lease payments,
ground rents, utilities, and othe charges' relating .t
r o the Property when ;due. Lender may .require. Mortgagor to
provide to Lender .copies .all iribtice that such amount• are. due and .the..receipts evidencing. Mortgagor's
.payment.. Mortgagor will defend :title, to the Property .against any claims :that would impair the.lienof..this Security
Instrument. Mortgagor agrees to assign- to` Lender, as requested by- Lender, any rights, claims or defenses
Mortgagor` may have against parties:who srapply_: materials to mamtalnor improve the Property
6... DUE ON SAL'E:OR ENCUMBRANCE; .Lender may, at its option; declare the' :entire balance of'the Secuted::Deb't
to be.immediately due and payable upon the creation of, ;or for :::creation of, :any, lien, encurribrancc,
transfer or sale Of :all or any part of the Property. This right:. is sub'ject to the restrictions 'imposed by: federal law,
as applicable:
7. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is. an entity other:thana .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.
McClone Enterprisos,' LLC,,
Wyoming Mortgage
WY/ 4XPTOLMAN00000000000675053080714N Wolters Kluwer Financial Services x•1996,'2014 eankers'Systeme'
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5, 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
trade or fictitious:nam.e.. Without.Lender's•prior written.consent, Mlortgagor:.does. not and :will not other
name and will prese .rveMortgagor's. existing name, trade names and franchises.
9: PROPERTY CONDITION, •ALTERATIONS, INSPECTION; VALUATION. :AND APPRAISAL.. Mortgagor 'will_keep the
Property in good :condition and make all repairt that are reasonably: necessary; •Mortgagor• mill not,commit or•allow
any 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, and actions 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 to the replaced personal ,property, free from any title. retention device 'security `agreement or other
encurnbrance..Such replacement of personal property will be deemed. subject.to the .security interest created
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
or before an on-site iiispection, valuation, or ..appraisal for on =going due diligence or otherwise specifying a
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,
10. AUTHORITY- TO PERFORM. Mortgagor fails to 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 narne.orpaY amount necessary :for performance. Lender's rlgi�t
tc:perform` for Mortgagor will not. create: an, obligation °;to, perform,.:and :Lender':s faiiure,to perform "will;not_preclude;:
:Lender :from exercising any of Lender's other .rights.under the law or this:.Security °lnstrurnent:: 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.
11..DEFAU.LT... Mortgagor:w•ill be in default. if of the following events' (known, separately and collectively at an
D
Event of efaultl occur:
A,.Payments, Mortgagor fails ID. make a payment.in full w'hen due.
B. Insolvency or Bankruptcy, The death, dissolution or insolvency of, :appointment of.a receiver by cr on behalf
of, application of any debtor relief law, :the'essignment for the .benefit of creditore 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, .reorganization, 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.
McClone Enterprises; LLC,
Wyoming Mortgnga
W YJ •XPTOLMAN00000pi ]0000675e53o80714N.: Wolters Kluwer Financial Services 0 1;996; 2014 Bankers .Systems'"
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C. Business •errnination. Mortgagor merges, dissolves, reorganizes, :ends its :businese or existence, or a
partner or majority owner dies or is declared legally incompetent D. failure to Perform, Mortgagor fella to :perform any condition or to keep any prorhise covenant of this
Security Instrumeht,
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 agreelnent Mortgagor has With Lender.
Misrepresentation. Mortgagor makes any verbal or Written statement or provides any lipancial information
that.is..untrue, inaccurate, or conceals a material fact at the time it is made Dr provided.
:H. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor
I. orfeiture. The Property is used in a manner orfor purpoSe thetthreatenkebnfisbation:by a iegaf authority..
J. :Name •Change.:. Mortgagor changes Mortgagor's name or assumes an additional name without notifying
Lender before:makingisuch a Change,
Property :Transfer.: 'Mortgagor tranaferS: alt -part .of Mortgagors. money or property,. This
,conditlOhrlof ilefaulti,a§ relates to the transfer of'tyie,,:1;?ropertY,i;lis:st.ibjeCt.:t0.:the reatrictiOn in the
L..ProPertY Value Lender determines in .goad faith thet:the value of the has declined is impaired',
Material: Change. ;Without firat.,notifYing.',Lender,,' there: :ia Materiel change in Mortgagor's business,
including -ownefshiP, s.rran and financial conditions
insecUilty, •:Lender determines in good 'faith that a:,rnaterial adverse change has Occurreel:in'Mortgagor s
rinancial conditton from the conditions set forth in Mortgagor s most recent ftnanoial statement before the date.
of this Security .Inatiliment Orthat the prospect for payment or performance of the Secured 'Debts is impaired
.for any reason.
s
12, .REMED(ES.:. !On after the .ocCurrenCe 'ph Event :Of 'Default, ••Lender may use any arid all :rarnediealender
has under state pr:federal lavv in any document xelating* the
power to sell.;h6 AnyHaMounta adVanced.on Mbrigagorebehalf be immediate1y..due.an
added to the balance .DWing under the Secured Debte. 'Lender. may make:a ..eiaim• for any and all insurance benefits
or'refunds.:thet:may: available on Mortgagor s default
'Subject to any right:Id.zure time schedules or anyather rights Mortgagor may have under federal
and state.:laW,. ;Lender may :malse all or any part of the owing by the terms of the Secured Debts
immediately due and foreclose this .Security ;Instrument in a :manner .provided bylaw' upon the Occurrence Of an
Event of -Defat.(iteranYtiMethereafter.;
:Upon any sate of make .PrOPeity, Lender -ake'. aria:AeliVer aPecia1 lirrilted: warranty deed that convey s- the
property .0 to the purchaser or purchasers:-; Under thiispePial or limited warrenty..deed, Lehder Will covenant
that •Leneder'::fies.:hetbauSed allowed A or an .encUrnbranC e:t6.'bUrderi•the..Propefty and that •Lender..W111
apecially:Waltent.: iiefeRciihe.0,roper:tjf!,s.ilflot'Ati*P*(00400t:;:iiLir:chaOS.j sale against all lawful clairris:'
and Derriand':Dt. all:persona::alairriinglvithroUgn'ee -7 17he2iracitalS.Jn...anydeed of ConVeYanee be:
%prima facie evidence of the ifebts.set.fOrth.i.therein.., ....4,... :i
:All fen oDieS:jare: diStinct ..Ourrililatkre and •:ribt• exclusive ..erid to a11:.:Terneclies:.provided.:at. law. or
equity,. whether ndi...expreSsly set -fdr.th..,'The acceptance by !Lender of any Slim inipayment or partial payrrient
'bri ithe.:balarce :is...clue.Oria..,aceeleeatedjdf, afterforeclotOre..ProceedingS are filed will not
constitute .a of •Lender'a rignt of any exiating 'By not exercising
any remedy',. Lender does not waive Lenders: right:te consider the event 'a..default if it continues Or !happens
again. '13. COLLE0'1710:N AND ATI NEY'e' FEES.,....Oii.Or of ah:Event of 'Default, to the
extent permitted 'by :law, Mortgagor agrees to pay all expenses of •Oollection; enforcement, valbatiOrr,.
protection of Lenders rights and remedies under this or any other document relating.'tdthe
:Secured: Debts: •Mbrigagor agrees to payi'exparisea for to fnspect, •valuate,I•appraise and preserve the
Property and for ani/::reobrdatibn costs Of reyeasingthe•Propert .this Security Instrument Expenses include,
but are not liMitedto, attorneys' fees, court costs and other legal expenses. These expenses are due. and payable
immediately.. If :not immediately, these expenses will bear interest from the date of pay.menf until:paid in full
11AcClone Enterprises, LLC,
•WyOming Mortgage.:
Page 4
.WY/4Xp.TOLI•v1A1■100000000006675053060714N Wolters'Kluiver Firiancial ar■rfaes 2014•Bankers SystemP:'
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at the highest interest rate in effect as provided 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 Mortgagors
14. 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, 960:1 et:seq:); all other federal, state and :local laws; .regulations, ordinances, court orders,•
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.':whioh has• characteristics which render the substance dangerous or potentially dangerous. to the
public ;health, safety, .welfare or• environment, The term includes, .without ltmitation any substances defined as
".hazardous •material;'" 'toxic substance," "hazardous .waste; "hazardous .substance," or 'regulated :substance"
under any.'Environmental:Law
'Mortgagor..represents,: warrants', and,: agrees that::
;l :;Except as previously disclosed: :and acknowledged :in .Wr.:iting ;to.:Lender;,:no Hazardous' ;has,:been,
is,, or•will t e'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: alt' applicable
I r onmenta end „Will :not
aw.
r r« rledged in wnttng to Lender, Mortgagor has::not.
Env
:cause, contribute .to,,::er.peni_ilt_the release of any Hazardous Substance, on the.Property
.C. Mortgagor •:will jrnMediately notify Lender if..-:(1) release or::threa'tened' :release' of _Hazardous
occurs:on,'under or migrates or•threatens: :from nearby. property;• or (2) there is
a violation 'of' any .Environmental Law 'concerning.:the' Property In such an event; Mortgagor will take all
ne
cessary:rernedial actioninaccordance with:Environmental Law
b. •Except as •previously and acknowledged in writing to Lender Mortgagor has no •knowledge of
reason'to beliieve' thereis: any pending.. or threatened ;investigation, .claim, or proceeding of •any kind relating to
(11 any Hazardous..Suibstanc.e: located on, 'under.or about: the Pr:oper:ty, or violation by Mortgagor or•any
tenant of any :Environmental, Law... Mortga gor:.willl, 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, :Lender: •has right, but. not the obligation, to'`partici•.pafe in any sua.ti proceeding:.includincj the :right to
receive copies of. any. documents.- relating- to such. proceedings;
E, Except as previous)y'!disclosed: and acknowledged in writ to er
Lend,_:Mortga.g a nd every. tenan have
been, are and will remain .in_fu(l ompliance. with any:.applical le Environmental Law...
F. Except' as previously disclosed and acknow in ledged writing to Lender,. 'there' are no underground storago
tanks., private dumps Cr "open' wells located on. or under the Property
and no :such •tank,. "dump or .well will; be
added unless`Lender first consentsin writing.
G Mort will regularly inspect the Property, monitor the activities -and operations 'oh :the: Property; and
confirm that .all permits, licenses or approvals required by' any applic Environmental .L are obtained .and:
complied .with
.H :•::Mortgagor will "permit;;'or ::;cause any tenant to permit, •Lender' o( Lender's agent :to.•enter and• inspect the
Property and review all records at any reasonable. time to determine (1) the,..existenoe •location and :nature of
any Hazarda.us.Substance;:on; :u.nder or :about ttie:.�Property:, �(2) .the ?existence.; location: nature;. and .magnitude
:.of any .Hazardous.•Substaru,e that h been released `on, under:or. about•the .Property;; or (3) or not
Mortgagor'and any -tenent:are in compliance; with: applicable. Environmental: Law,"
I,. Upon ;Lender'' request and at'any_ time; Mortgagor agrees., :.at.. M ortgagor's. expense;. to engage:a qualified
environmental engrneer `to 'prepare environmental. :audit of the Property. :and:.to submit the "•results" of such
.audit to Lender, The, cloice..of the environm.entai ;engineer, :who will perform •such audit is subject to Lender's
approval: 0.
J...Lender: has the :rights but not the obligation to perform_. any of Mortgagor'.s obligations under this section at
Mortgagor's expense
McGlone Enterprises; LLC,
Wyoming.Mortgogo
WY/ 4XPTOLMAN0000000000067505308071 4N Wolters Kl ke
Financial:Sorvices m,1996, 2014 Banrs. Systems
Systems'
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.K. As a consequence of any 'breach of any representation, :warr.anty••or .promise made in this section, ..(.1)
Mortgagor will indemnify" and hold Lender and Lender's successors or assigns harmless from and .a.gainst all
losses, claims, demands, •liabilities, .dama 'cleanup, response and remediation costs, penalties and expenses,
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 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 or all of the Property Any claims and defenses :contrary,
are hereby'.waived.
1.5. CONDEMNATION. Mortgagor will .give Lender prompt notice of :any pending or threatened. action by.private.or
pubhc entities to purchase or.take or all of the Property through condemnation;..emtrrient. domain, 'or any •other
means. Mortgagor authorizes Lender to intervene•`in Mortgagor's name •in any: of the. above describe..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 .he :payrrie and
will•.be applied as provided in this'Securityinstrument. This asslgnment of proceeds is subject to thelerms any_
prior mortgage, deed. of; trust;` security.agreement:or other :lien document;
0 •16.: 'INSURANCE. •Mortgagor:agrees.:.to :•keep t 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 :Secur:ity instrum'ent,- 'What Lender requires: pursuant to the .preceding two':sentences
can 'change during .the. 'term of the: Secured .Debts.., Mortgagor..may choose. the insurance co mpa ny:, subject to
•Lender':s •approval, which ...will not •be unreasonably Withheld;
All insurance policieo and shell ::include a standard: "mortgage :clause:'•' (or:.'::lender loss •,payable .clause
endorsement that :names Lender as "mortgagee" and ",loss_. payee If required• 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. com:prehenslve •general :liabiility insurance and rental: toss•. or
business interruption insurance. in. amounts andunder policies acceptable to ::Lender, The comprehensive general',
liability insurance ce must name Lender.as:°an l' additiona insured. The .rental loss ''or business interruption insurance
must be in •en•amount equal to at least coverage'•of one'year'.s debt servic:e,,and required_ escrow acco deposits
..(if agreed to separatel.y.inw:nting).
Mortgagor wilt:give• Lender and the insurance` :company .immediate.notice.;of any .loss. ••Al.I-insu .pro
be applied to restoration or repair ofthe •Property •or to the Secured Debts :.at: s L option,. I 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 Debt
Mortgagor will immediately notify Lender•; of cancellation, or termination :Of .insurance. If .Mortgagor fails to :keep.
the Propertyansured Lender may.:obtain insuranc:e•to. protect:LenderPa: )n the Property and `Mortgagor •swirl:
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';insurence _premiums:`.to :the balance. of-.th S ecured'_Debts and; c i nterest On it `at the'
.rate that•applies.tothe Secured Debts This insurance may. include.. coverages not originally required off:Morrgagor,
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.
..'1 ESCROW ,.FOR :AND INSURANCE.:. Mort will not •be: required to';pay to'Lender funds for•taxes and
insurance ih escrow..
18. WAIVERS.. •:Exc
to the Property.
19, OTHER TERMS, The following are applicable to this .Security Instrument:
McClone Enterprises, LLC,
Wyoming Mortgage
WY/ 4XPTOLMAN00000oDO0oo67505308o714 i i Wolters Kluvaer Financial Services 0 1996, 2014 Bankers'systems"
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r
MORTGAGOR
McClone Enterprises; :LLC;,.:
Scot:G;. McClone, Manager
McGlone Enterprises, L'LC;;
Wvoming.Mortgega.
WYI4XPTOLMANy 0o0000oope0675o53080714N, Wolters Kluwer Financial Services 0 ..1.996,.2014.Bankers S'stems*W.
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A. Line of Credit. The Secured Debts include a revolving line of credit provision. Although the Secured :Debts
may' be reduced to a zero balance, this Security Instrument will remain in effect until the Secured Debts and all
underlying agreements have been terminated in writing by Lender.
B..No Action by.Lender. Nothing contained in.this Security Instrument.shall require Lender to take any action.
20. APPLICABLE LAW. This.:Security Instrument is .governed by the laws of 'Wyorning, .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.statelaws 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
or :together with any :other Mortgagor.::Lender may release any pert Of :theProperty anti .M.ortgagor. 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 i nstniment
:or'any eviderice.of debt without.Mortgag'or'.s consent. Such a.change will: not :release Mortgagor fr.orim =the terms.
of this Security .instrument, The. duties. and :benefits of this 'Security Instrument ;will 'bind. and. benefit the
successors land'assigns :of Ler der•and Mortgagor;
22. AMENDMENT;. INTEGRATION; SAND :SEVERABUJITY:.': This :Instrument imay-.not °be' amended. or.
modified by oral agreement No amendment or modification of: this Securityfinstrurnent is: effectiv.,e unless _made::in'
writing: and: executed.: by Mortgagor.and Lender.. This. Security Instrume•rkfand any.. :other documents relating
.:Secured Debts are the .complete and.final expression of the agreement If :any Provision `.of .this :Security,.::instriarnent:
ie unenforceable; the the unenforceable •provision will be, severed and the -remaining iprovisions still be
.enforceable,
.23. INTERPRETATION,• Whenever used, the singular includes the: plural` and- the,pjural..includes the singular, .The:
•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:: Uriless "required b y la ally. 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 chanje in Mortgagor's name.;:address
.or other application information, Mortgagor will :provide Len 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:corinection 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, sand preserve Mortgagor's •;under this ,Security;lnstr,ument;. to confirm• Lender'., s. lien: status
on any Property, and •Martgagor to': pay:: all- expenses,_'charges connection with the preparation...
..and recording thereof:. Time is of the 'essence
SIGNATURES: By signing: Mortgagor agrees to the terms 'and covenants contained i this• Security Instrument
•Mortgagor also acknowledges receipt .of a copy of this :Security;lnstrument
Page'•7
By n Date 8'2) 1 L ''.1
Marcus Weer, ice 'resident
.ACKNOWLEDGMENT.
...'S`;i'1`-e. OF Dyni r+t�. C0(.4n hi OF '1__.l V\C<J'I v-. ss.
This instrument w.as'ackncwledgged before• me this .0'N '.day of Ai.mict5 i WI
Scot G,McClone, as:Manager of McClone:Enterprises, .LLC,..
My commission expires a. -.l L .o l.t;
LENDER:
The' Bank 'Of :Star 'V .'ley.
l
V of E {1� i F -h
1 (r li u1 }:3�1�� :t v�.T�l r cU�it:�
•1_'111r;Dil'I. l`: ,;•'9:e(
Cl;;c
rviY (i -.3SIO f' ?inct 6 Dec. zOl S i
(Lender Acknowledgmentl.
.5 OF 1 U�YUi r C)un° O .Li:'l ss
This instrument was .acknowledged before me this :9Y-. :day of i tc
Marous Weber as Vice President of The Bank Of Star Valley
My commission expires':
)a F(Y FUpLIC
.S
McClone Enterprises, LLC,
Wyoming Mortgage
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X E.BIT "A"
Parcel. l :.Lot 138, A 1.pinc Villag Subdivision:No. 1.Plat Amended -25th Fi]ing, "T.:.incoln.County, Wyoiuing as
platted and recorded in the Office of: the Lincoln°Covnty Cleric.
Parce12: Lot 139. Alpine Village Subdivision. No., 1 °Plat'2.A.rnendecl -25th Filing, Lincoln Cbunty, as.
pi.gted.and.r corded in. the Office .of the Lii]cdln Coutity:Cle.dc;