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HomeMy WebLinkAbout884664884664 BO PR PAGE__2_1-..1.- RECEIVI) LINCOLN COUNTY CLERK 02 0T -8 Ptl 3: 33 1;!` 701 CR VIYOMING State of Wyoming Space Above This Line or Recording Data REAL ESTATE MORTGAGE (With Future Advance Clause) 1. DATE AND PARTIES. The date of this Mortgage is 09.20.2002 and the parties and their addresses are as follows: MORTGAGOR: ALVIN L ROBINSON AND ALICE L ROBINSON TRUSTEES OF THE ALVIN AND ALICE ROBINSON FAMILY TRUST DATED APRIL 10,1997 PO BOX 677 AFTON, WY 83110 ❑ Refer to the Addendum which is attached and incorporated herein for additional ortgagars. LENDER: THE BANK OF STAR VALLEY Organized and existing under the laws of the state of Wyoming 384 WASHINGTON STREET PO BOX 8007 AFTON, WY 83110 83.0315143 2. MORTGAGE. For good and valuable consideration, the receipt and sufficiency of whic is acknowledged, and to secure the Secured Debt (hereafter defined), Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property: SEE SCHEDULE A ATTACHED HERETO AND MADE PART HEREOF ,.1 j7r The property is located in LINCOLN at 10 8 S WASHINGTON (County) AFTON Wyoming 83110 (Address) (City) (Zip Code) Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, 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, b part of the real estate described above (all referred to as "Property"), The term Property also includes, but is not limited to, any and all water wells, water, ditches, reservoirs, reservoir sites and dams located on the real estate and all riparian and water rights associated with the Property, however established. WYOMING - AGRICULTURAL/COMMERCIAL REAL ESTATE SECURITY INSTRUMENT (NOT FOR FNMA,FHLMC, FHA ORVA USE, A NaTFOR CONSUMERPURPOSES) (page 1 of 7) 7ef M 0 1993, 2001 Bankers Systems, Inc., St. Cloud, MN Form AGCO-RESI-WY 6/6/2001 X72 3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt hereafter defined) secured by this Mortgage at any one time shall not exceed $ 215,000.00 This limitation of amount does not include interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and other charges validly made pursuant to this Mortgage and does not apply to advances (or interest accrued on such advances) made under the terms of this Mortgage to protect Lender's security and to perform any of the covenants contained in this Mortgage. Future advances are contemplated and, along with other future obligations, are secured by t is Mortgage even though all or part may not yet be advanced. Nothing in this Mortgage, however, shall constitute a ommitment to make additional or future loans or advances in any amount. Any such commitment would need to be agre d to in a separate writing, 4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is not limited to, thl A. The promissory note(s), contract(s), guaranty(s) or other evidence of debt d renewals, modifications or substitutions. (When referencing the debts beoov items such as borrowers' names and addresses, note principal amounts, com maximum amount, Interest rates, variable rate terms, maturity dates, etc.) ONE I AMOUNT OF 1215,000.00 B. All future advances from Lender to Mortgagor or other future obligations o promissory note, contract, guaranty, or other evidence of debt existing nov% whether or not this Mortgage is specifically referred to in the evidence of debt. C. All obligations Mortgagor owes to Lender, which now exist or may later arise, t including, but not limited to, liabilities for overdrafts relating to any dep Mortgagor and Lender, D. All additional sums advanced and expenses incurred by Lender for insuring, pre; Property and its value and any other sums advanced and expenses incurred I Mortgage, plus interest at the highest rate in effect, from time to time, as provic E. Mortgagor's performance under the terms of any instrument evidencing a deb Mortgage securing, guarantying, or otherwise relating to the debt. following: :scribed below and all extensions, ' it is suggested that you Include rrercial revolving loan agreement's ROMISSORY NOTE DATED 8.20-01 IN THE ` Mortgagor to Lender under any or executed after this Mortgage the extent not prohibited by law, it account agreement between srving or otherwise protecting the Lender under the terms of this d in the Evidence of Debt. by Mortgagor to Lender and any If more than one person signs this Mortgage as Mortgagor, each Mortgagor agrees at this Mortgage will secure all future advances and future obligations described above that are given to or incurred by any one or any one or more Mortgagor and others. This Mortgage will not secure any other debt if Lender fells, withf more respect to such other debt, to make any required disclosure about this Mortgage or if Lender fails to give any required notice of the right of rescission. 5. PAYMENTS. Mortgagor agrees to make all payments on the Secured Debt when due end in accordance with the terms of the Evidence of Debt or this Mortgage. 6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor' payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Mortgage Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses which Mortgagor may have against parties who supply labor or materials to improve or maintain the Property. 7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property and that may have priority over this Mortgage, 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 make or permit any modification or extension of, and not to request or accept any future advances under any note or agreement secured by, the other mortgage, deed of trust or se urity agreement unless Lender consents in writing, S. 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 any lien, encumbrance, transfer, or s le, or contract for any of these on the Property. However, if the Property includes Mortgagor's residence, this sections all be subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. For the purposes of this section, the term "Property" also includes any interest to all or any part of the Property. This covenant shall run with he Property and shall remain in effect until the Secured Debt is paid in full and this Mortgage is released, /page 2 of 71 M 0 1983, 2001 Bankers Systems, Inc., St. Cloud, MN Form AQCO•RESI-WV 8/8/2001 9. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an entity other corporation or other organization), Lender may demand immediate payment if (1) a bar or transferred; (2) there is a change in either the identity or number of members of a there is a change in ownership of more than 25 percent of the voting stock of a corl Lender may not demand payment in the above situations if it is prohibited by law as of ,'73 than a natural person (such as a eficial interest in Mortgagor is sold partnership or similar entity; or (3) oration or similar entity. However, the date of this Mortgage. 10. ENTITY WARRANTIES AND REPRESENTATIONS. If. Mortgagor is an entity other han a natural person (such as a corporation or other organization), Mortgagor makes to Lender the following warranti s and representations which shall be continuing as long as the Secured Debt remains outstanding: A. Mortgagor is an entity which is duly organized and validly existing in the Mo gagor's state of incorporation (or organization). Mortgagor is in good standing in all states in which Mortgagor transacts business. Mortgagor has the power and authority to own the Property and to carry on its business as now being conducted and, as applicable, is qualified to do so in each state in which Mortgagor operates. B. The execution, delivery and performance of this Mortgage by Mortgagor and the obligation evidenced by the Evidence of Debt are within the power of Mortgagor, have been duly authorized, have received all necessary governmental approval, and will not violate any provision of law, or order of Court or governmental agency. C. Other than disclosed in writing Mortgagor has not changed its name within the last ten 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 its existing name, trade names and fra chises until the Secured Debt is satisfied. 11. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the P operty in good condition and make all repairs that are reasonably necessary. Mortgagor will give Lender prompt noti a of any loss or damage to the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor will not initiate, join in or consent to any change in any private restrictive covenant, zoning ordinance or other public or private restriction limiting or defining the uses which may be made of the Property or any part of the Property, without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor or any other owner made under law or regulation regarding use, ownership and occupancy of the Property. Mortgagor will comply with all legal requirements and restrictions, whether public or private, with respect to the use of the Property. Mortgagor also agrees that the nature of the occupancy and use will not change without Lender' prior written consent. 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 Mortgage. Mortgagor shall 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 for the purpose of inspecting the Property. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 12. AUTHORITY TO PERFORM. If Mortgagor fails to perform any of Mortgagor's duties under this Mortgage, or any other mortgage, deed of trust, security agreement or other lien document that has priorit over this Mortgage, Lender may, without notice, perform the duties 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. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may do whatever is necessary to protect Lender's security interest in the Property. This may include completing the construction. Lender's right to perform for Mortgagor shall 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 Mortgage. Any amounts paid by Lender for insuring, preserving or otherwise protecting the Property and Lender's security interest will be due on demand and will bear interest from the date of the payment until paid in full at the interest rate in effect from time to time according to the terms of the Evidence of Debt. 13. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes a unit n a condominium or a planned unit development, Mortgagor will perform all of Mortgagor's duties under the covens ts, by-laws, or regulations of the condominiumtor planned unit development. 14. DEFAULT. Mortgagor will be in default if any of the following occur: A. Any party obligated on the Secured Debt fails to make payment when due; B. A breach of any term or covenant in this Mortgage, any prior mortgage c security agreement or any other document evidencing, guarantying, securing Debt; C. The making or furnishing of any verbal or written representation, statement incorrect in any material respect by Mortgagor or any person or entity obligat( any construction loan agreement, otherwise relating to the Secured warranty to Lender that is false or on the Secured Debt; (page 3 of 7) E a 0 1993, 2001 Bankers Systems, Inc., St. Cloud, MN Form AGCO-RESI-WY 6/612001 D. The death, dissolution, or insolvency of, appointment of a receiver for, or appl Mortgagor or any person or entity obligated on the Secured Debt; E. A good faith belief by Lender at any time that Lender is insecure with respect tl the Secured Debt or that the prospect of any payment is impaired or the value o F. A material adverse change in Mortgagor's business including ownership, mans which Lender in its opinion believes impairs the value of the Property or repayme G. Any loan proceeds are used for a purpose that will contribute to excessive erosi conversion of wetlands to produce an agricultural commodity, as further explain G, Exhibit M. N 74 on of any debtor relief law to, any person or entity obligated on the Property Is impaired; lement, and financial conditions, it of the Secured Debt; or n of highly erodible land or to the d in 7 C.F,R. Part 1940, Subpart 15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender t0 provide Mortgagor with notice of the right to cure, mediation notices or other notices and may establish time schedul s for foreclosure actions. Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this ortgage in a manner provided by law if this Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued in erest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the vidence of Debt, other evidences of debt, this Mortgage and any related documents including without limitation, the power to sell the Property. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all re edles provided at law or equity, whether expressly set forth or not. The acceptance by Lender of any sum in payment r partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are file shall not constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exerci ing any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if it c ntinues or happens again. 16. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Mortgage. Mortgagor will also pay on demand all of Lender's expenses incurred in collecting, insuring, preserving or protecting the Property or in any inventories, audits, inspections or other examination by Lender in respect to the Property. Mortgagor agrees to pay all costs and expenses incurred by Lender in enforcing or protecting Lender's rights and remedies under this Mortgage, including, but not limited to, attorneys' fees, court costs, and other legal expenses. O ce the Secured Debt is fully and finally paid, Lender agrees to release this Mortgage and Mortgagor agrees to pay for any recordation costs. All such amounts are due on demand and will bear interest from the time of the advance at the highest rate in effect, from time to time, as provided in the Evidence of Debt and as permitted by law. 17. 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 at 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 potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" 'or "hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that, except as previously disclosed and acknowledged in writing: A. 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 usiness and in strict compliance with all applicable Environmental Law, B. 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) a release or threatened release of azardous Substance occurs on, under or about the Property or migrates or threatens to migrate from nearby prop rty; 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. '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, un er or about the Property; or (2) any violation by Mortgagor or any tenant of any Environmental Law. Mortgagor ill 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, Lender has the right, but not the obligation, top rticipate in any such proceeding including the right to receive copies of any documents relating to such proceedings. E. Mortgagor and every tenant have been, are and shall remain In full compliance w th any applicable Environmental Law. F. There are no underground storage tanks, private dumps or open wells located n or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. (page 4 of 7) 'd 0 1993, 2001 Bankers Systems, Inc., St. Cloud, MN Form AGCO•RESI-WY 8/8/2001 275 G. Mortgagor will regularly inspect the Property, monitor the activities and oper tions on the Property, and confirm that all permits, licenses or approvals required by any applicable Environme tal 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 determine (1) the exis ence, 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 Propert ; or (3) whether or not-Mortgagor and any tenant are in compliance with applicable Environmental Law. 1. 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. J. Lender has the right, but not the obligation, to perform any of Mortgagor' obligations under this section at Mortgagor's expense. K. As a consequence of any breach of any representation, warranty or promise made in this section, (1) Mortgagor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all losses, claims, demands, liabilities, damages, 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 Mortgage and in return Mortgagor will provide Lender with collateral of at least equal value to the Property secured by this ortgage without prejudice to any of Lender's rights under this Mortgage. L. Notwithstanding any of the language contained in this Mortgage to the contrary, the terms of this section shall survive any foreclosure or satisfaction of this Mortgage regardless of any passage of title to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to he contrary are hereby waived. 18. CONDEMNATION. Mortgagor will give Lender prompt notice of any action, real r threatened, by private or public entities to purchase or take any or all of the Property, including any easements, through condemnation, eminent domain, or any other means. Mortgagor further agrees to notify Lender of any proceedings instituted for the establishment of any sewer, water, conservation, ditch, drainage, or other district relating to or binding upon the Property or any part of it. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or claims and to collect and receive all sums resulting from the action or claim. Mortgagor assigns to ender 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 shall be considered payments and will be applied as provided in this Mortgage. This assig ment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document 19. INSURANCE. Mortgagor agrees to maintain insurance as follows; A. Mortgagor shall keep the Property insured against loss by fire, theft and other hazards and risks reasonably associated with the Property due to its type and location. Other hazards and risks may include, for example, coverage against loss due to floods or flooding. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Mortgagor subject to Lender's approval, which shall not be unreasonably withheld. If Mortga or fails to maintain the coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property according to the terms of this Mortgage. All insurance policies and renewals shall be acceptable to Lender and shall include a standard "mortgage clause" and, where applicable, "lender loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to hold the policie and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premium and renewal notices. Upon loss, Mortgagor shall give immediate notice to the insurance carrier and Lender. L nder may make proof of loss if not made immediately by Mortgagor. Unless Lender and Mortgagor otherwise agree in writing, insurance procee repair of the Property damaged if the restoration or repair is economically lessened. If the restoration or repair is not economically feasible or Lend( insurance proceeds shall be applied to the Secured Debt, whether or not Mortgagor. If Mortgagor abandons the Property, or does not answer within insurance carrier has offered to settle a claim, then Lender may collect the the proceeds to repair or restore the Property or to pay the Secured Debt period will begin when the notice is given. Unless Lender and Mortgagor otherwise agree in writing, any application of or postpone the due date of scheduled payments or change the amount acquired by Lender, Mortgagor's right to any insurance policies and pro Property before the acquisition shall pass to Lender to the extent of the acquisition. s shall be applied to restoration or asible and Lender's security is not s security would be lessened, the hen due, with any excess paid to days a notice from Lender that the surance proceeds. Lender may use tether or not then due. The 30-day seeds to principal shall not extend the payments. If the Property is Is resulting from damage to the fired Debt immediately before the (page 5 of 7) CAM 0 1993, 2001 Bankers Systems, Inc., St. Cioud, MN Form AGCO-REST-WY 8/8/2001 C; 76 B. Mortgagor agrees to maintain comprehensive general liability insurance naming Lender as an additional insured in an amount acceptable to Lender, insuring against claims arising from any accident or occurrence in or on the Property. C. Mortgagor agrees to maintain rental loss or business interruption Insurance, a required by Lender, in an amount equal to at least coverage of one year's debt service, and required escrow account deposits lif agreed to separately in writing), under a form of policy acceptable to Lender. 20. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or information Lender may deem necessary. Mortgagor warrants that all financial statements and information Mortgagor provides to Lender are, or will be, accurate, correct, and complete. Mortga or agrees to sign, deliver, and file as Lender may reasonably request any additional documents or certifications that L nder may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Mortgage and Lend is lien status on the Property. If Mortgagor fails to do so, Lender may sign, deliver, and file such documents or ce ificates in Mortgagor's name and Mortgagor hereby irrevocably appoints Lender or Lender's agent as attorney in fact to o the things necessary to comply with this section. 22. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOU D. All duties under this Mortgage are joint and individual. If Mortgagor signs this Mortgage but does not sign the Evidenc of Debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured D bt and Mortgagor does not agree to be personally liable on the Secured Debt. Mortgagor agrees that Lender and any p rty to this Mortgage may extend, modify or make any change in the terms of this Mortgage or. the. Evidence of Debt wit out Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Mortgage. The duties and benefits of this Mortgage shall bind and benefit the successors and assigns of Mortgagor and Lender. If this Mortgage secures a guaranty between Lender and Mortgagor and does not directly secure the obligation which is guarantied, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation including, but not limited to, anti- eficiency or one-action laws. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Mortgage is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Mortgage is complete and fully integrated. This Mortgage may not be amended or modified by oral agreement. Any section or clause in this Mortgage, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or implied) permits the variations by written agreement. If any section or clause of this Mortgage cannot be enforced according t its terms, that section or clause will be severed and will not affect the enforceability of the remainder of this Mortgage: Whenever used, the singular shall Include the plural and the plural the singular. The captions and headings of the sections of this Mortgage are for convenience only and are not to be used to interpret or define the terms of this Mortgage. Time is of the essence in this Mortgage. 24. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or Iby mailing it by first class mail to the appropriate party's address on page 1 of this Mortgage, or to any other address d signated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 25. WAIVERS. Except to the extent prohibited by law, Mortgagor waives any right rega assets and all homestead exemption rights relating to the Property. 26. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this N ❑ Construction Loan. This Mortgage secures an obligation incurred for the const Property. ❑ Fixture Filing. Mortgagor grants to Lender a security interest in all goods tha future and that are or will become fixtures related to the Property. ❑ Crops; Timber; Minerals; Rents, Issues, and Profits. Mortgagor grants to Lend timber and minerals located on the Property as well as all rehts, issues, and limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) p, programs (all of which shall also be included in the term "Property"), ❑ Personal Property. Mortgagor grants to Lender a security interest in all personal with the Property. This security interest includes all farm products, inventory, instruments, chattel paper, general intangibles, and all other items of personal pi the future and that are used or useful in the construction, ownership, operation the Property. The term "personal property" specifically excludes that property secured in connection with a "consumer" loan as those terms are defined governing unfair and deceptive credit practices. E5(156?k9 0 1993, 2001 Bankers Systems, Inc., St. Cloud, MN Form AGCO-RESI-WY 8/8/2001 ng the marshalling of liens and .V_ . on of an Improvement on the Mortgagor owns now or in the a security interest in all crops, (fits of them including, but not vents and similar governmental property located on or connected quipment, accounts, documents, )party Mortgagor owns now or in management, or maintenance of described as "household goods" in applicable federal regulations (page 6 of 7) 7 7 ❑ Filing As Financing Statement. Mortgagor agrees and acknowledges that this Mortgage also suffices as a financing statement and as such, may be filed of record as a financing statement for purposes of Article 9 of the Uniform Commercial Code, A carbon, photographic, image or other reproduction Of this Mortgage is sufficient as a financing statement. 27. OTHER TERMS. If checked, the following are applicable to this Mortgage: r ® Line of Credit. The Secured Debt includes a revolving line of credit provision. Alt ough the Secured Debt may be reduced to a zero balance, this Mortgage will remain in effect until released. ❑ Additional Terms. SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Mortgage and in any attachments, Mortgagor also acknowledges receipt of a copy of this Mortgage on the data stated above on Page 1. ❑ Actual authority was granted to the parties signing below by resolution signed and dated Entity Name: (Signature) (Deter (Signet re) (Date) ALVIN L RCl3IN9%[ ALICE L RMMIq TFLUiEE (Signature) (Date) (Signature) (Date) ❑ Refer to the Addendum which is attached and incorporated herein for acknowledgments. ACKNOWLEDGMENT: STATE OF Wyoming , COUNTY OF Lti- llndividual) This instrument was acknowledged before me this 201h day of by ALVIN L ROBINSON AND ALICE L ROBINSON TRUSTEES OFT ALVIN AND. ICE ROBINSD N My commission expires: C); )p;>010 (Seel) SHIAJEYSM&LL • WARYAMIC S111111111 of U11111 id 0 VIP110 1 STATE OF , COUNTY OF This instrument was acknowledged before me this day of by (8usiness or Entity Acknowledgment) Of a My commission expires: (Seel) Mortgagors, signatures and } ss. } ss, on (Title(s)) _ (Name of Business or Entity) of the business or entity. e 0 1993, 2001 Bankers Systems, inc., St. Cloud, MN Form AOCO-RESI-WY 8/8/2001 (Page 7 of 7) ALTA COMMITMENT - 1982 - WY SCHEDULE A The land referred to in this commitment is situated in the State of Wyoming, County follows: ,78 Lincoln, and is described as A portion of the NEWSEW of Section 36, T32N R119W of the 6th P.M., the Town of Afton, Lincoln County, Wyoming, being par of Lot 17 of the Airport Addition to the Town of Afton, the metes and bound being more particularly described as follows: BEGINNING at a point in the West line of U.S. H: Street), said point being 475.69 feet N 1-2°11'5311 corner of said NEWSEW; thence S 0005145" E, along said West line, 281.70 thence N 8803310611 W, 216.65 feet; thence N 0012144" W, 283.54 feet thence S 88004112" E, 217.29 feet to the POINT OF 1. way 89 (Washington from the Southeast fleet; INNING. 11/91