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HomeMy WebLinkAbout978088RECORDATION REQUESTED BY: 1st Bank, DiVision:of Glacier Bank Afton :314. South 'Washington St.. 620 Afton, WY' 83110 WHEN RECORDED: MAIL TO 1st Banlr:, D ivision pf.Giacier Bank Afton ?14-South Ulashing:on $t: P.0<'dox:'1620 Afton, WY 83110 SEND TAX NOTICES TO: 1st O ole, Division of Glacier Bank Afton 314 South Washington St. P,O.'Box 1620 Afton, WY 83110 978088 8/21/2014 4:30 PM LINCOLN COUNTY FEES: $30.00 PAGE 1OF 7 BOOK; 838 PAGE: 233 MORTGAGE JEANNE WAGNER, LINCOLN COUNTY CLERK I IIIIIII IIIIII 1111 111111 VIII 11111111 1111111111111111111111111111111111111111 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY !M°RTG THIS MORTGAGE dated August 8, 2014, IS made and executed between JEREMY RICHARD GERBER. (r'eferre.d to below as i `Griantor and lst 'Bank, Division of Glacier Batik, whose address :is :314 :South. Was.hingtoti St..., R',.0. Box 16.20, Afton, WY 83;110 :(referi'.53d tp below as "Lender"), GRANT QFMORTGAGE. For valuable consideration, Grantor mortgages.and.convuys to Lender all or Grantor's eight,. title,. and interest!n aid to the-following :described real property, Ai:poth'er s' ith..all existing or 'subsequently ere'oted or sifted buildiggs., iinprovernenes: arid ibttures;. all easements, rights' of way, 'end appurtenances; ell water, water rights, watercourses and direst rights )including stock in uulrties.with ditch or Irrigation rigtttel; Anti .all :other rights, 'royalties, and: profits relating. tp the real property, including without limitation ail Minerals, oil, gas, geothermal and aimi)armancrs, the "Reef Property located' in LINCOLN. C.otfnty, State of Wyoming: See EXHIBIT ".A which. is attached to this Mortgage 'and made a part of th.i5 .Mortgage' as if. fuil:y set fifirttii horeirl:, The.Real Property or its address is commonly known as TB.D STUMP CREEK ROAD, AUBUI3N., WY $3111. Grantor presently assigns to 'Lender all of Grentor's right, title, and interest Si and to all present and future leases. of the Property and' alifionts frorttthe Property. In:addition, Grantor grants to Lender a Unirorm Commercial Code security interest in the P.ersonatProperty and Rents. TH1S:MOBTGAGE, INCLUDING THE ASSIGNMENT OP' IiENT$,ANO THE' SECURITY INTEREST IN THE BENTS AND PERSONAL PROPERT.Y. IS GIVEN TO SECURE (A) PAYMENT' OF THE' INDEBTEDNESS AND (B) PERFORMANCE OF ANY .AND ALL.O8LICATIONS UNDER THE NOTE, THE.RELATEDDOCUMENTS, AND THIS MORTGAGE:. THIS MORTGAGE IS GIVEN AND ACCEPTED ON:THE.FOLLOWING'TERMS: PAYMENT AND PERFORMANCE. Except OS otherWiseyprovided fn this Mortgage, Grantor shaft pay to Lender all amevnis secured by this. 'Mortgage as they become due and :shall strictly perform all of Grantor's obligations under this Mortgage, Po$,s sS10N::AND MAINTENANCE OF THE .PROPERTY. Grantor agrees that.Granto(s possession and use of the Property shall be: governed hy. the fvII 'oing.proyisions: Possession and Use. Until the occurrence of sr: Event of. Default, Grantor may It) remain' in possession and control of the Property; (2) use operate err manage.the.Property; and (3). collect.the Rents..from tha• Property.: Duty to Maintain, Grantor 'shall maintain the Pro.perty in tenantable condition and promptly perform all repairs, .replacements, and maintenance necessary to. preserve its. value. Compliance With Environmental Laws. Grantor represente and warrants to :Lender that: (1) .During Me pried' of G'rantor's.ownersh p of the Property, there has .been no use generation,. manufacture. storage,, treatment .dispos.al, r teese, or'threatened. release of any Hazardous Substaribe by arty' person on Ohdar, about or from the Property; (2) Crtntor.fias no knovdcdge of :cr season to tletiave that therf has been, except..as .prrviousl.y disclosed to and acknowledged by Lender in writing, (al: any breach or violation of any Environmental Laws. lb) any use, generation, manufacture. Storage, treatment, disposal, release or threatened release Of 'any HazardowSubstanceon, under, about or front the Property by any prior owners or occupants of the Property, er (o) am/ actual or threatened litigation-or claims of: any kindby any parson relating to such matters; and. (31 Except as previously disclosed to arm ackneWiedg'ed by Lender in writing, ('a1 neither Grantor ttor any tenant, contractor, ageii4 or othea tiu;Fforfi:ad trseroi the: Property shall use:, generate, .inanu?a:ctiire; north irG @t,, dispoS;a; of or release any Hazardous Eubsranre on, under, about or from the Property; and (b) any such .activity 'hall be conduoied I'ri coiiaphance with' all: applicable federal; state, and local Laws, regulations and ordinances; including 'without (stitation all :Envirorimental I,a'ws. Grantor authorizes Lender and its agents to enter upon the Property to Make such inspections and tests; at Grantor's' exponso as Lender may deem appropriate to deterrtiine compliance of the Property with this section of the'Mortgage...9ny inspections tic tests mane by Lender shall be for Lender s purposes only .and shell, nut be construed. to create any responsibility or liability :oil 'the part of Lender to Grantor onto any other person.. The representations 'rind 'warranties contained herein are based pn .Grantor's: due diligence in investigating: the Property. fox Hazardd.us.Substances, .Grantor hereby. (1) releases and waives any future cialina against Lender for ihdehtnity ar co.ntribution in the: event Grantor becomes liable for cleanup or. other .costs under arny strati. laws; and 12) agrees to indemnify, defend, end hold harmless Lender against any ans all claims, lasses, liabilities, damages,. penalties., and expenses which Lender may directly or indirectly sustain or sutler resulting hem a breach 'of th(1 section of the Mortgage 'or as a consequence of any use, generation, ihorllifadttiie, Storage,'dispesal,. release or threatened re)eiase.occurring prior to Grantor's ownership or interest in 1he.Property., whe;har or not the sa(t)e was or Should have-been known to Grantor. The provisions of this :section of the :Mortgage, incigding the oblig t15 n to. indemnify and defend, shall survive the ..paytrrent'af thelndobt'edeeas and tho.satisfaxUon and reconycyance n( Via lien At this Mortgage and.shiatl :'5101 be-affected byLentior` :s' acquisition of any interest in the Property, whether by foreclosure ovoth'erwise. 44uj'sanee, Waste. Granlor'shall not cause, conduct Or permit any nuisance nor commit, Hermit, .or :ouffer any stripping of or en or to the Property, or any partion:or the Property. Withoutlrmiting the generality of the foregoing, :Grantor will not remove, or grant to any other partytti'r; right to remove, any timber, Minerals (including di) and gas), coal,,'clay, scora, soil, gravel or'reek products'wftlitiut" Lenders. prior written danseht. .Rernoval.vf Grantor shell not dernolish or remove any tmprovernents from the Real Property without tender's prior written consent, As a condition to the removal of -airy liriprovemeats, Lender may require Grantor to snake arrangements satisfactory to. Lender to replace. ditch ln:provernents with Improvements of at least equal value. Lender's RighT'to Enter. Lender and Lender's agents and reprosentettves may enter upon the Rea! Property at all reasonable times to. attend to Lender's.iinterests and. to inspect• the Real. Property'f of G'rant'ees compliance the tennis and conditions of this Mortgage.; Compliance with Governmental Requirenrehts.. .Grantor dhall.'promptly•comply with ell laws, ordinances, and re,gu(ations, now or' hereafter hi effect, of all -governmental. authorities applicali(e to the use. or occupancy of the Property including in'ithout hmitatihn, the A'r0eridana With OlfrabiliiIeS Act. Grantor may contest; in good, faith :any such lbw, brdiriane'e, or regulatfun atid:'withhtild. dpmplianee during any proi:eeding, including. appropriate appeals, so long as Granter has hotitied .Lender in turning prior to doing so and so long as, in Lenders sole opinion, Lender's interests in 'the Property are not jeopardized. Lender require 'Grantor to post .adasp ate. security or a surety bond; reasonably saxisfacterrr to Lenrf:er., tr .protect lenders interest Duty to Protect. .Grantor agrees neither 50 a.bardon or leave unattended. the Property. Gtanttir shall do ail.other acts, in addition to those acts set forth abovrr:in this.sedtion, which from the characters end Use of the Property. are reasonably necessary to protect anti, preserve: the Property. TAXES AND LIENS, The 'foilowing'provisions relating. to :the Wes' and Sens on rho Property pre .part of-this lolortgage: Loan No: 6101'8008 MORTGAGE (.Co.ntiriued} Page 2 Payment. Grantor shall pay When due (and in all events prior' to .delinqurincy) :all taxes, payroll taxes.: special::taxes, assessments, water charges and. sewer service charges Levied again ^,t or on account of tho.Proper &y, and shall ]pay when due ell claims. for work taheon or for service's" fendered'or Material furnished to the Property. Grantor shall maintain the Property tree' of any liens having priority over or equal to the interest af Leridet:undei this' Mortgage, e<cep for those liens specifically agreed to in writing by Lando, and except for the fien of taxes and assessments not due es 'further Specified in the Right to Cantest.paragrah. Righi'to:Contest, Grantor may withhold payment of any tax, essesarnent, er claim in ddnnectiori With a cjood. faith: dispute.' over.' the obligation to .pat so long; as Lender's interest in the Property is not jeopardized, if a lien ..arises or is feted i s ;a ,fesuit of nonpayment, Grantorshall'within fifteen :(1.5) days after the lien arises or, if a lien is filed, within fifteen (1 EL days after Grantor has notice of the fi 'lIng, secure the dischage of the Hop, or if requested by Lender, dcpo5it with Lerida Cash or a 'sUftitient corporate stirety band. or .ath'er security satisfactory to Lender :in'ao amount sufficient to discharge the. lien plus. any costs and reasonable. attorneys' loos, or other charges :that could accrue •as a'restat a1' a foreclosure: or sale under: the lien. In: any contest, Grantor Shall defend itself and Lender and shall, satisfy any adverse judgment before enforcement against the Property. Grantor shall name Leader as an additional obligee under any surety bond furnished in the contest proceedings, Eyidence•of Payment, :Grantor shall :upon demand. furnish Lender satisfactory eVidence:of peyme.nt.ef the taxes or assesstridnt's:.end shall authority the appYapritite g'overhrrteiital official td deliver to Lender' at any time a written stet: merit of. he'taxes' and assessments against the .Property,. Notice pf Constreotidl 'Granter shall notify Lander et, least fifteen.,(.15i: days .betere any Work IS .commenced, any services sre'fumishod, or any materials ere :supplied to the Property, if any mec.hanic's lien materialmen'b lien, or :other lien could be asserted :on account .o.f the work services, or materials. Grantor will Upon request of Lender furnish to. Lender advance. 'assurances satisfactory to Lender that. Grantor can and�wiif pay the cost of such improvements, :eFtopo 0 .1 1MAGE1N$t11;A'NCE. ThetellbW) ng: provisionsrelating: Mt :este:Mg-hePropettyere.a :pert.o this :Mertgage: Maintenance of Insurance.: Grantor shall: crocus and nraintaifi.policies of fire insurance with. standard .exte:aded coverage endorsements on a replacement basis for the full insurable value covering all Improvements or the .Real Property in an amount sufficient to avoid application of any :ooinatrance clause, and with :a standard Mortgagee clause in favor of Lender.. Grantee shall also :procure and maintain: comprehensive general liability insurance in such coverage amounts as Lender may request with Lender being narned as addit'ibnat insureds [n such irability insurance :policies. Additionally,.'Crantor shall maintain: such. .other insurance, 'including but: not :limited to'Ijazard business. interruption and boiler insurance as Lender may require. Polities shall be. written:by such insuranoe companies and. in such form as may be reasonably acceptable to :Lend'er.. Grantor shall deliver to Lender certificates of coverage from each Insurer containing a stipulation that coverage will: tot be cancelled or diminished without a minimum. of thirty. (301 days' prior written notice to Lender and not oontiuiung. any discrairnet of-the 'insurer's liability for failure to jive such Notice. Each :.insurande policy:.also shall ini:Iude an eitdorserrent providing that coverage in favor of Lender will: not be kiwi in any' way: by any act, omission ar.defauit of Grantor orany other person. Should the: Real Property be located in an area designated by the Administrator of the Federal Fe1ergenoy Management Agency.as a special flood hazard Brea; Granttar agrees to obtain end maintain Federal. :Elo. xd Inb'tirante, it a.vailebl for the full: u'ripaid principal balance of the loan and any prior lions on the property securing the loan, up ta: the maximum policy limits set under the Nninnal Flood Insurance Program, or se t?titecwise regpiredb.yUnder, and .or the. tarn o #:,the loan, Application .ot Proceeds. :Grantor shall promptly notify. Lender et any loss .or damage. to. the: Property if :the. estimated cost oi repair tat replacement exceeds 5'1,000,O.Q. Lender may make proof of toss if'Graiitor faits to do so within fifteen it 6..1: days of thestakialty. Whether or not Lender's security is impaired, Lender may,. at :Len:der'e election, receive •erad :retain the proceeds 0:1 any insuraoce. and apply the. ptoceed:s' to the reduction of the Indebtedness, payment of any licit' affecting the Property, or the restoration and repair of the Property, Lf Lender elects'to zpply the proceeds' to restoration and repair Granter Shall :repair at rooliiim the damaged'iir destroyed Impreeenients:. in: a manner Satisfactory to Lender. Lender shall, upon satisfactory proof of such eXpenditure, any or reimburse Grantor front the proceeds fcr the reasenabla cost of repair or restoration if C rantor-is not in default under this:'Mortgage.. Any proceeds which have not'been drsbt)rse within 100 days after their receipt end which Lender has not coinrttifted to the repair or restoration- of the Property. shell be used first to pay anyamoont tp Lender under this Mortgage, then to pay accrued interest, and..the remainder if any; shall be applied bathe principal balance of the indebtedness. If Lender holds any. proceeds after payment in full of the Indebtedness, such proceeds. shall' be. paid to Grantor as Granter's intetasts:inay appear. 'LENDERS EXPENDi'TURES,. ff 'any action or proceeding is: toninierted that Would lmaterfally:aifect Lender's interest in the. Prdperty:ur if Grantor rails to comply.Wiih any prevision of this Mottgage or any 'Related. Documents, iiicluding.hut not limited to Grantor's fnil'ure to discharge or pay when,due any anto;tnts Granter is required to discharge pr pay. under this Mortgage or any Related Dopumetits Lender at Grantorrs behalf' May (but shall not be obligated to) teke .any: action that Lender deems appropriate, including hut not limited to discharging or. paying all :taxes, liens, 'security Utterasts, encumbrances and other claims, at any' time 'levied or placed an the Property and. paying aft costs. for insuring, maintaining. and preservipg the Prepetty.. AP such expenditures incurred or paid by tender for such purposes will then bear interest at the' fate charged under the Nbrc trem the date Irian or paid by Lender to the Bata of repayment by Grantor. All skrth.expenses, will become a part of the Indebtedness: and, at Lender''s.option, trill 1 be payahir, pn demand; (3). be added to the balance of the Note and be apportioned among and. b.e .payable 'with any installment peymentsrto become due during either jti the terie of anyeppllcable Femurante policy or (2)' the remaining term of the biota or (C) helmeted as r balloon payment which 'will be due and payable at the Notes maturity. The Mortgage Also: wilt secure payment of these amounts. Such'righ *shall he addition to all cther rights and remedies to'which:Lertder niay be. entitled upon D'efault. WARRANTY;,DEE.ENSE OF TITLE. 'The following provisions:relating:to ownership•of the .Propertyore a: part Of thict Mertgara fitly: Grantor w44rrants that: fa) Grantor holds good and.'marketabla title of record to the Property in fee si nple, tree and clear of :'agRRena and' encumbrances other than those set forth in the Real Property description or lit any title insurance policy,. titlereport or fine title opinion Issued, itt favor Cif, and accepted tat', Lender 'in o0nneetion: with' this Mortgage, and :lb) Granter has the full right, power, and authority to execute and:deliver this Mortgage to Lander. Defense of Title. Subject to the exception in the paragraph above, iGirontor warrants and of forever defend the tide to t e'Property against the.'lew.lul cldims of ell' persons. In the event, any action or proceeding is commenced that:::quastions Grantor's title or: the interest of Lender under this Mortgage, Grantor shall defend the action at Granter's expense. Grantor mey be the nenj'inal party in such proceeding:, but Lender stall:hae entitled tolparticipate in the proceeding arid tea :he: :reprosented'in the proceeding by counsel ral Lender's: choice.:;, and Grantor will deliver, or cause to be delivered, 'to Lender such iiistrur'nen.ts as Lender may request from time to time to permit such participation. Compliance WWith :Lays.:Granter warrants that the Property ,end Grantor's use of the Property complies with all existing applicable laws,. ordinances, and regulations of governmental authorities. Survivai of Representations and Warranties: Alt representations:, warranties, :arid agreements :made °by :Grantor in this Mortgage. Shall survive the e.xecution. and delivery pf thin Mortgage, shell be continuing in, nature, and shall remain in full farce and effect: unit ;such time as Grantor's :Indeotednoss shall be paid in :toll. CO :ND.EiVINATION. This following provisions: relating to condemnation proceedings are 'a part of khs:Mentgage: Prdbeedings. If :any proceeding in condemnation is bled, Grantor shelf promptly notify Lender in waiting, and :grantor shall promptly: take such steps as may be necessary to defend the action and obtain the award. Grantor may be the norninal patty in such proceeding, but tender shall :be cptitled to participate in 'the pro.ceedieig and to be represented in the .t rpceeding by counsel' of its own ohoica. end' Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to tune to Dermot oucltipartiapat(on.. Application of Net lroneede. If all or any part: the Property Is: condemned by eminent .dor»oin proceedings or by any proceeding or purchase in lieu Of condemnation, Lender may et Its Mention require that all :er any portion Of the net proceeds: ref the avyard: be applied to the Inddbtedries's or'tfie repair .dr restoration of the Property. The nut 510000(15 of 'the award shelf Mean the award:after payment of all reasonable costs, expenses; and attorneys' fees'incurred by Lender in cannestion 'with'th'e.cordorriiiation. IMPOSITION 0P TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTH2ORITiES. The following previsions relating tb governmental taxes, foes• and charges.tire :a part.of this Mortgage: Current Taxes, Foes and Charges. Upon request by Lender, Grantor snail execute such documents in addition to this Mortgage and tetra `whatever other action:is requested by Lender to ioerfect. and continue Lender's, lien op dhe feel Property. Grantor shall reimburse: Lender for all (5505 ,is oescc,oec' below, together with all expenses incurred in recording,, perfecting or,cortinuing this ,'vlortgage,, including without limitation' all taxes. fees, documentary stamp's, and other: charges. far recording dr iegisteiing'ttiis Mortgage. Loan No: 6/0/8008 MORTGA.GE (C.o.nti.nu :e.dy Page. 3 Taxes, The •`..allowing shalt :constitute taxes: to which this'sec.tion applies: Ii) a speeific:tax Upon. this type of Mortgage' or upon all or arty part, or die indebtedness secured by tills Mortga.ge.;. (2) a specific tax on Greater which:Grantor is authorized or required to. dedUcit front payfnants an the Indebtedness secured by .this type of Mortgage; 0) a tax on 'this type'ol Mortgage r..hargeeble. against 'the Lender or the bolder of the Note; and S4) a: specific tax on .all or any'.porion of the Indebtedness pr -on payments of principal and interest, mode by Grantor. Subsequent Taxes: If any tar to which this section applies is.eneeted.subsequent to the date of INS. Mortgeg this anent 'shall.havethe Sarre effect as an Event of Defeult,.andtender may exercise any or all (fits avaital le remedies for an Event o.1 Default as provided below unless Grantor either f i 1 pays the before it becomes delinquent, Or (Z) canteen the tax eb provided above in: the and Liens section and deposits •ivith.Lender cash or a. sufficient .corparete'suretty bond or other security satisfactory. to :Lender. SECIJRLTY AGREEMENT;.FINANC!NG. STATEMENTS. The: following provisions relating to this Mortgage as a'socerity agreement::are•a part. of this. Mortgage: Security Agreement, This inat urnent shall ooriatitute a Security Agreement to the extent Any of the Property constitutes fixtures., and Lender shall.have all of the .rights of a secured party under the: Uniform Commercial Code es amended from time. tb .time. S'eeurity interest. Upon request by Lender, Grantor shall take whatever notion is requested by Lender to perfect: and Continue Lenders security interest in the. Vents tend Personal Property, In addition. to recording •thig Mortgage in the .real flrnperty r:ecordy, Lender; may at any time and without further authorization 'from Grantor; file executed' counteiperts, copies ar reproductions of this Mortgage es a financing staternett. Grantor shat! reimburse 1!ender for all rxpenses!neurred.in.perfeetiog or eont)nuing INS Securityinteres.t- Upon deret/IL Grantor' shall nat.remove, sever or detach the Personal Property from the Property. Upon default, .Grantor shall _assemble any Personal Property not affixed tb She.FrOperty:in a manner and. at a place seasonably convenient, to Grantor and Lender and melte It evadable to Lender within three 12) days.afterreceipt of written demand from Lender to the extent permitted by applicable law. Addresses. The mailing addressee Grantor (debtor). and Lender isecured,part.)'front wh!b)i'information conerrning the se'c'urity interest granted by this Mortgage may be obtained (each as required by die Unifbtan'Conilnertial .Codb).are as Staled on the first page of`this Mortgage. FURTHER` ASSURANCES; 'ATTORNEY -IN -FACT. 'The following previsions relating to further assurances and attorney -in :act are a part of• this Mortgage: Further Assurances. At any time, '.and from time te. Yime, upon request of Lender, •Grantor will make, execute add deliver, or will cause to be made; executed or,deiivered, tn•Lender or to Lender's designee, and When requested by Lender, •cause to be fired; recorded., refired:, or rerecorded, as the .case may be et s.ucb times and insuch offices and places as Lender play deem appropriate, en• grid all such mprtg.ages, dee'de of trust, security deeds, security agreem'en',. financing statements, continuation statements, instiuments of further assurance, pet ficates, and Other. documents as rnay, in the sole opinion of. Lender;. he: necessary or desirable in order to. effectuate,•Comptete,.perfect, continue, or preserve 11) Grantor's oblfgatio:ns under the Not this Mortgage, and the Related Documents, and (7) •the 11 ne end seoui)ty interests created :by this Mortgage as first and prior liens on. the P..rdptdnty, Whether now awned er hereafter; acquired by Grantor, Unless prohibited by law or Lender agrees to. the contrary in writing, Grantor shall reimburse Lender for all costs.. and expenses incurred in epenection With ttte matters refelrred.to• in this paragraph Attetney-in -Fact; If Grantor fails to -deany.of the things referred to ie the precering paragraph, Lender may do so tor and in the, name or Grantor and at Grantor'.s -expense. For socili purposes, Grantor barely' irrevocably appoints Lender .8$ Grantee's attorney- in-fact for the purpose of making, e:'tert sting, delivering., filing,. :recording, and doing ell other :things as may. he necessary. ar desirable,, in Lender's sole opinion, to accomplish' the matters referred to in the preceding paragraph FULL PERFORMANCE, If Grantor pays all the Indebtedness vcnewdee, end otherwise Perforate all the Obligatihdb imposed upon Grantor under this. Mortgage, L'e'nder shall :execute and .deriver to: Grantor a suitable satisfadtion cf this Mortgage and suitable staternente.of term of any financing statement on file evidencing Lender's security `interest in the fleas •and the Personal Property. Gi;anter wilt pay, if permitted: by applicable. Ian any reesonable:term /nation fee by Lenderfroni time to tine. EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of O.efault under' this Mortgage: Paymenf Default. Grantor fails to make any payinerit when due under the Indebtedness. Default •on Other Paytnents, Failure of Grantor within the time required: by this Mortgage to ounce any payment: for tuxes or insurance,.ot anynther payment: necessary to prevent filing of er to effedt dis'char'ge of. any lien. Other Defaults. Grantor fails to comply with or to perform. any other term, obligation, covenant or condition. contained in this' Mortgage or in 'any of the Related..Decumente or to eolnply With or to perform any term, obligation, covenant 'of conditlen contained in any other agreement between Lender end. Grnntot. Default in Fever of Third Parties. Should' Grantor default under any lean, extension 'df credit, security .agreement putchese or sales agr.'eement, ar any other agreement, in favor of any other :Creditor or person that may metorielly effept any. of Grantor's, property, or Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's obligations under this Mortgage: or any of the Related Documents, False Statements Any warranty, representation or .staternent made or furnished td Lender by Grantor or On Grantor's behalf under this Mortgagri orfhe Related Documents is false or rrtisleaifing in any material rospe•t, either now 'or at th'e'time made or furnished or becomes fal'se.or'misleadieg at any time thereafter: Deferttve Cellateralizetion, This Mortgage or any of the Related Documents. ceeees'to be in full force and effect. (including: failure of any collateral document to create a:valid arid perfected security interest or lieu at: any time and for anyreason. Death o•fnselvenpy. The. death: ot•Gmntor, the insolvency. of'Grantor, the appointment cif .a receiver for any. part Of Grantor's property any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or Insolvehey laws by btagainst. Granter. Creditor Or Fbrfeitur8 >Proc.eedirfgs Commencement of foreplpsure or forfeiture •proceedings: whether by judicial pro :pending, Self-help, reppssession or any ether method, by any creditor of Grantor or by any governmental agency against any 'property securing the (ndelttedoess. this indfi:des a:garillshment -m:'y. et Orantorra accounts:, inccluding d eposi;•a :cooth s, .witkLpnder. low.ever, thaEventol Dofault. shell Oat apply if there is a•good faith dispute by Grantor as to the validity or teasonebleness of. the clarrin which is the basis Of the creditor or forfeiture praceodiog= and !f- Grentot gives Lender Written`not!ee orr the.ctedltor.or forfeitgre.Proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture prcreeding, in an :amount determined by Lender, inits sole. discretion., as being an adequate reserve or bend for the.dispute. Stench of Other Agreement. 'Any breech by Grantor .under the tenor: of :any :other agie'arnent hetWeen Grantor and :Lender that. in: not remedied within any .grace period provided therein, including without lireitetion any agreement concerning .any indebtedness or other obligation of Grantor to Lender, whether existing now or fa.ier:: Events Affecting Guarantor. Any Of the preceding events occurs With respect to any ,guarantor; endorser, surety, or.accomrrodatlott pat :ty of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes. incompetent, or revokes or ttisputes the validity of or liabfity under, any Guaranty ofthe Indebtedness. Adverse Change: A. material adverse change occurs in Grantors financial condition, or Lender believes the prospect of payment qr porfo'rmanco cline indebtedness is 'impaired. Insecurity. tender lmgcod faith'believoS itself insecure. R)OHTS AND'.REMEDtES ON DEFAULT.. Upon the occurrence of an :.Evart of Default and any time thereafter, Lender, at: Lender's option. may exercise any one' or mdreof the following rights and remedies, in addition to dnybiher rights :di ibrdedies priihideii by IOW: Accelerate Indebtedness. Lender shall have the' right. at its option without nutiee to "Grantor to declare 'the entire Indebtedness im'media'tely due' end payable; including any prepayment penalty that Grantor would. be required to pay: UG Remedies. With. respect to Mier any part of the Personal Property, .Lender shall have 'all the rights end reined. {as of a secured, party under the .Uniform Commercial Code. Collect Rents. Lender•shall tunic the right,. Without notice to Grantor., 10: take possession of the Properly, including during. the.pendency of foreclost.2e, whether 'judicial or non- judicial, and collect the Rents, including .amounts past due and .unpaid, and apply the net proceeds, over Loan Nix' $1018008 MORTGAGE C :ontinued.). Pale 4 and above Lenders costs, against the Indebtedness.. In •furtherance of: this right, 'Lander may require any tenant or other user of the Property to make payments of rent or use tee.s directly teLerider. tf the Rents ate. rolledtee by Lender,. then Grantorirrevoeablydesignates Lender as Grantor's attorney -in -fact to endorse instruments received in payrnent''thereof in the name of 'Grantor and to negotraS0 the same and collect the proceeds. Payments ley -tenants or other users to: Lender in response Lender';, .demand :shall satisfy the obligethails. for which the payments ore made, whether or nor any proper grounds for the deinaird exi'stoti. Lender may exordia& its rights under this sufiperegraph•either fn person, by agent; or through a receiver. Appoint Receiver. Lender shalt have the right to have a receiver appoin :ted to taise possession of all or any part of the Property, witll.the power to protect and preserve the Property, to •operate the Property preceding 'foreclosure or sale, and to collect the Rents from the Property anal apply .the proceeds, over and above the. cost of, the recciVership, against tile: Indebtedness. The receiver i Say ,4erve witfiaut bond. if permitted by law. Lender's right to the appointment of a receiver shalfexist whether or no:" the apparent value of the Property exceeds the, Indebtedness by a subrtential amount. Employment by :Lender r shall:no.t disqualify a person. from serving as a receiver. Judicial Foreclosure. Lender may ohtaio.a judicial. decree foreelosiog Granters interest all or any part of the Property, Nonjudieiai Salo. Lender may foreclose Grantor's'interest'in ail, or in any: part•of the Property by non :judicial. sale, and -specifically by "power at sole' or "advertisement arid' sale foreclosure as provided bystat'ute Deficiency Judgment. If permitted: by applicable' lath,: Lenaer'niay obtain a :judgment Ion. any :deficiency rernairting in .the: lndebtednos doe td Lender after application Of *amounts received' from the exercise of the rights provided 'in this section. Tenancy at Sufferance. If Grantor remains in possession of Me Property after the Property is sold as provided above or Lender Otherwise beea'mes entitled to •possession of the Property upon default of Grantor, Grantor shall become a tenant et sufferance of Lender or the purchaser of the Property and shall, at Lenders opfien, either ill pay a reasotfable.rerttei'fdr the use'of the Property, Or (2p vabate•the Property•irmtediately the :demand of Lender: Other Remedies. Lender shall have. all other rights and remedies provided in this Mortgage: or the Note or available at law or M. equity. Sale of the Property. To the extent permitted by applicable: law, Grantor hereby walves'any and all right to have the Property marshalled. In Firetei6ing :its Vita a''d'rem'edies, 'Lando shall be free'to Sell .all o.r any ;iatt:Of the Propality •jbgettier,Or seperetely,.:fn one. sale or by separate•salet. Lender shall be entitlert to bid at any publid sale, an all or any portion of the Property. Notioe•of.Sale, Lender shall give Grantor reasonable notice' of the lime end place of any public safe of' the Pe;rsedal Property or of the time after which any .private sale or other intended disposition of the Personal 'roperty :is to 'be made. Reasonable. notice' shall mean notice given at' beat ten (lo) day's before the :time, of the safe or disposition. Any.sale df the Personal Property meyhe made in conjunction with any said: nfthe Seal Property, Election of Remedies, Election: by Lender to: pursue :any remedy shall hotorciude pursuit of any .other remedy; and an electiiirr to rriake. expenditkires Or to take action to perform an obligatfob of Grantor• under this Mortgage, .after Grantor's failure to- perform, shalt not affect Lerrder.' .right'to declare. a defabft and exercise its remedies. Nothing Wide r`tnis:Mortgagc or. otherwise: shall be construed so es to knit or restrict the rights and remedies available to Lender following an Event of Default,- or in any may to limit or restrict the rights and ability of Lender th proceed directly against Grantor srdydd.against any ether so"rnaker, guarentor,.sure ty or endorser: andfor to proceed against any' other coffaterai directly or indirectly securing the indebtedness. Attorneys' Fees; Expenses, If Lender institutes any suit or action 'to. enforce eny•of the ter..in's of this Martgege,.tender shall be entitled to recover sued sum the court may adjudge reasonable as attorneys' fees at trial and upgn any appeal,. Whether or not any oaurt.attion is involve'd', and to' the extent not prohibited by law, all reasonable expenses. Lender incurs'tbat. in Lender s opinion 'are necessary at any time for.the ,ptoteetior.or its interest or the eniorcernent of :its rights. shall bareine a part of the Indebtedness payable an demand and shelf bear interest at the Note. rate from the date of the expenditure until repaid. Expenses covered b.y this paragraph include, without Iiniitarion, however subject to any (imits.under applicable law., tender's rgason.'abla and Lende'r''y leg it expenses whether or not:th.e.re is a lawsuit, including reasonable attorneys fees and expenses for bankruptcy proceedings lindludifig efforts to mddity br vacate eny amen:tulip stay or injunction), :appeitis, and any anticipated post. judgment colfection.:services,. the cost :oi seeret:Mg. records, •obtaining: title reports fincleding foreclosure reports), surveyors' reports, and appraisal. fees and title insuranco, to the extent permitted by applicable: law. Grantor ;also:ivill pay any our i;osts„ in addition to another soma prdvfded by la.w'. NOTICES:. Ariy nonce :rediiired to be given under this Mor tgage, includirrg :Iimifatioh artiy'notice:of default:anti any :notice of sale shall be given in writing, end shall be effective when actualiy'delivered, when actually received. by teletacsimile luneess otherwfso required by fowl, when deposited with e .nationally rccpgnt ed' overnigrt, courier, or,, if mailed:, when deposited ih the Uhited 'Stares Mail, as first: class, certified or regjstered mail postage prepaid., directed to the addresses shown near the beginning of this Mortgage. Ali Copies of notices of foreclosure• from the'iolder of any lien which has priority over this Mortgage shall be sent to Lender's address, as shown near the beginning of this Mortgage, Any, party may (Menge Its eadress .or notices under this Mortgage. by giving formal Written notice to the other parties, specifying that the pureese:bf the nOtiee:is dd change the party'$ addreSS.• For notice purposes, Grantor agrees to:keep €limiter inlorftied at ell titres of Grantor's: current address. .Unless otherwise provided.or required. by,la:c+, if tYfere is mere than one Grantor,' any notice .given by. Lender to any Grantor is deemed to be nptiee.giyen :toad Grantors, NIISCELEANEpps.pROVISIONS,: The following nt ?scellannpus iprovidions.are e pert .o? this 'Mortgage; Amendrrfents. This Mortgage, together with. any :Belated :Doc:uments,. oonstitutes the entire understanding •and agreement of the parties as: to the riiettera 'set forth di this Mortgage. No alteration of dr amendment tir this Mortgage 'shall tea effective unless given in wriIirig. and: Signed b$ the f arty' or parties tio.ught to bti charged or bound by the alte.,r.ation or :amendment. Annual Reports, if the P rgperty is' used for purposes other. than. G'rantor's residence, Praetor shalt•furnish to Lender, upon request,, a certified statement of net operating income received from the Property Miring Grantor's previous.. fiscal year iR such torn[ and .detail ea: Lender shall require. 'Net operating. income" shall mean all cash receipts from :the Property lass all cash expenditures media in connc :ptiort with the operation of the Property. Gapffon Headings. Caption headings' in this Mortgage. are 'for convenience purposes only.bnd:are riot to ha used to fitterpretor define the provihignS of this. Mortgage. Governing Law. This Mortgage will be, governed. by federal law applicable to Lender and, to the.extept not preempted by federal raw, the lal,Ye of'the State of Wyoming' without rogardtraits conflicts of levy provisions: This Mori gage: has: taeepted by Lender ji.j. e the State of Wyorning• Cho ce of Venue. If there is a iewsuit,. "Grantor agrees upon Lender's• request to submit to'the jurisdiction Of the caurts bf Lincolri County, Stater of Wyetting. No Waiyer by Lender. Lender shall net be .deemed to have Waived any rights under this 'Mortgage unless such waiver is given in writing end signed by London. Nu delay or omission on the part 01 Lender: in exe.rro sing.any right eball operate as a waiver of such right or any other right. A waiver by Lender of a'provieion of this Mortgage shall not prejudice or constitute a waiver. of Lender's right otherwise to demand' compliance with that provision .or any other provision of this M'ort?tage. No, prior waiver b'y Lender.. ndr any rourse'of dealing' between Lender. and Granter, shell constitute a waiver of any of Lender":s rights or :of any of Grantor's oliligatons as to are? fufuro transadtions. Whenever the consent .of Lender is required under this. Mortgage, the granting of such consenf by Lender iii .any instance shall not.consOtuto continuing consent to subsequent instances where. soon consent is:`required :and in all cases Such consent: may be granted.or withheld in the sole discretion of Lender. Severability. If a court Of t:onpetent,juriSdictieli ')lids 'any provision of this Mortgage to be illegal, invalid, or unenforceable. as to any circumstance, that finding shalt' not make the: offending provision illegal, invalid,.or unenforceahie as to.any other eke-Urns if feasible; the pffending.provision shall be considered niedified SO'that it becomes legal, valid and tsriforceable.• If the offending provision cannot be: so rnddified, it Shall be considered deleted froni'this :'MOrigaee. Unless otherwise xequred Jaw, .the illegality, fnyalidity,, or unenforceability of any provision of this Mortgage shall not affect the legality, validity or enforceafiility.ot arr'y other' of this Mortgage. Merger. Thera shall be no _merger of the interest or estate created' by this Mortgageadith any Other interest .or estate In the Property et any time held byipr forthe..:benefit of Leriderin any capacity, Without the.. wrltten.eonsent .of Leander, Successors and Assigns, .Subfnct to any limitations Stated' in this Mortgage, on transfer of Grantor's interest, this Mortgage shall he Minding upon and inuretb'tha benefit of the parties., their successors: and assign's. If owrershp :of the Property hebornes veinedin a. person other than Grantor, Lender, .without:notice to Grantor, may deal with Grantor's successors with tef:deente to this. Mortgage and 'the by way of forbearance or extehsiorr without releasing Grantof 'frorn the obtig'atrons of this Mortgage or liability under the Indebtedness.. Loan No:. 6101:6068 GRANTOR...? MORTGAGE (COntitltied) Time is bf 'the -Esoncb.. Time is-of the essence in thpsrtrmancoI thi s Ntortgage. GRANTOR At RN:OWL-EDGES HAVING READ;ALL TH.E PROVISIDNS.- OF THIS MORTGAGE, AND. GRANTOR AGREES TO ITS TERMS., Page 5 Waiver of lidinestead.Excrripticin. Grantor hereby. releases and. waives atkrights an bangfits of the:homestead exemptiort laws ofte State of Wyoming es to all Indebtedness .secured by this Mortgage, DEPINITIONS, The folloviring copitilited words and ;terms shall have the feithWing Meanings': Whin used in MIS Mortgage. Unless specifically stated to the contrary-, .all references dollar arnotints shall mean amonots.iti latiffut Money :of the -United Statee.Of AmeriCa. Wads grid. terms used in the singular shill induct° the plural, and the plural thallinclude the singular, as the context may require. Words and trams not otherwise 'defined in this MPftgage shall have the inganingghttribittettl -Such :rents in the.Uniforin CoroMertrial Code: Borrower, The word "Bortewer" iflans -JEREMY. RICHARD. GERBER and: inekidet.all coSignels -end co-Makers signing the Note and alktbeir- successors and essigns. Defaulf, The .word "Default' means the Default set fOrthiP: this Mortgage in-the section titled 'Default". Envitonmentel Lys. The Words. 'Envitorunental 1-6.11/e rile.ael any. and all :State, reclerar add. local Stettites, regtiratioht anti cirdirianceS relating to the protection of human heafth or the environment, including without limitation the Comprehensive Environmental RespOnse, Cobthenernien, rind Act of 1S80 ainerided, 42 US.C. Sagtion 9601, et: serf, ("CERGLA% the SuperfundlAmendrnents irrd Rea.Uthdriaa don At t of 19B-6, Pub. L. No.. 99.499.(SARA), the Hazardeus Materials Transportation .Act,.4g 11....S.C. Section 180'4 et seq., the Resource Conservation and Recovery Act, 42 U.S-,C. Section $101,. et .seq., or -other applicable state: -or 'federal laws, rules, or regulations adopted pursuant thereto Event of-Default. The words 'Event of Default mean .any of the events of default set forth in this 'Mortgage in the events of daleult section a this: Mo tg a aa. Grantor. The word ".Grenter" means JEREMY RICHARD' DERBF.R. Guaranty. The. word "Guaranty" means the guaranty from guarantor, endorser, surety., or accomModation party to Lender, inclUding: ,vithout; limitation a guaranty of ell or part:of the :Note. Hazardous Substances. The words "Hazardous Subetonees9' moan materials 'that, because of their quantity, concenttatiopi ar chemical or infectious characteristics, may Cause or pose a present or potential hazard th frianan health. �r the. environment When improperly usrld, treated :stored, disposed of,, generated', manufactured., transportrtd or otherwise :handirth„ The words 'Hazardous: Substances" are used in their very broadest sense and include: without limitation soy and all hazardous or toxic substances, materials or waste. es defined :.by Or listed under :Environmental: LawS. The thrill "Halardous Stibstances" also it:elude:a; Withettlioritation, pew:Aida and petroleum by-products or any 'fraction thereof end. ashestos, improvetnents. The word "im.provernents' means all existing and future improvements, buildings, .structures,. mobile-homes affixed on the. Real Property, thciIti. additions, replacements and :crthergonstruction on the Real Preperty. indabtedness4 The. word "Inclehtedness."- meant all principal, interest, and etheramounts and :expenses.; pay.able under the Note or Reitneebocuments, togoti With all renewals of, extensions of, modifications Of, consoildations of and substitutions tor the Note or kefatedI0ocirments and any amounts expended tsr adyrancgd by Lender to di charge G.eard.or's•riBligations or expenses ingurred by Lender enforce Granter's.obllgations under this Mortgage., together with interest on such arnounts as prOvided in this: Mortgage. Lender.- The word "Lender" means 1st Sank, Division of %Icier Bank, its successors:end assigns. Mortgage. The word 'Mortgage:" means-this Mortgage. betweeri. Gre:n tore and Lender. Note. The word '"Nate" means the promissory note dated 201 4., :in the ortgtna prtnclpa Wiwi of $48 from Grantor to Lender,, together with all renewals of, extensions of rnedifitaiions- of, refinancings of., 'c.ongolidationS of; and substitutions tar the prof issery note Orgy:gement. :IVOTIGE 70 GRANTOR THE NOTE 0104.1%. A. VARIABLE INTEREST RATE, Personal' Property. The words. 'Personal Property" mean all equipfnem, fixtwee: and other articles of personal.prop.erty. pow. or hereafteo owned by Grantor, end now at hereafter attached or affixed to the Real Property.; together with ell acitesSIOns,- porta,. and additions to, all replecements:ot, and:ail Substitutions far, any such property; and together with alt protereife (including -without limitation all insurance proce.eda and refunds -of oremiurns) 'from any sale or other disposition the Property. Property. The word 'Property' means collectively the Real Property anti the Personal Property. Reef:Properly:. The vvordsReai Property" meamthe real property, interests and tighisv as"further described fri this Mortgage. Related DecOmehts. The. words "Related Documents" mewl all promissory notm credit agreements, loan ogreornents, e.nvironmental agreements, guaranties, security agreements, mortgages, deeds of tritSt, security deeds, collateral Mortgages, end all other insteurnents, agreements enci-docUthents, whether now Or hereettel'exiSting., exeauted in connection With Clio indebtedness. Rents. The word "Rents" means all present and future rents', revenues, income, issues, royalties., profits, and other henolns d.criffed: from the Property. Loan No: 61018068 State: of .1.1.3(,..0.: County of This. instilment -wa.v eelmowledged before me on. t 1. AMBERNS,130SpitSCN. NOWA' P.USLiC Ccurty of State of Lincciiri yeyptiling eornrrin4100EgOres:May a 1 s t• !INDIVIDUAL ACKNOWLEDGMENT MORTGAGE (.C.antiritio.d) k•r (dare] by J.EREMY.IICHARDL EF3BER.. My eommisefon'expasz Lf 1. Pate 6 .taurFro, V.tr: 1 4i3,1f):.OW Cbpr,. D USA Cninoratidn:197, 20'14, AU Riohts .1;teno.rvnd: IlAdistNPLIN.C.FPIPLAGO(LPQ T93.83 EXHIBIT: 'An Part :of GLiD :La 1 (KIENNE.4) of Section: •i, 'T324.. R119W of :the Lirtoolt.)::00:unty, Wyorrikig., describe as foilOws: Begirmirig at a point 1109,50 feet West d the Mittheast dmer:Of Said Section e and proceeding theme West 215;50 feet thence O14 .507,00'feet:thence 464,B0 fe:Ot;lh:enoe'N67'44 224:77 feet, thence: North: 1 feetio the point: of begintfing Excepting therefrom any land :lying within GLQ Lot 2 .df said S ection 6, Tn.i\i• RI 19W, Lincoln 0 WyOrrring..