HomeMy WebLinkAbout885688~ROM '
FAX NO. ~
Nov 13 2002
13:27
Now. 13 2002 03:45PM
P5
'LINCOLN COUNTy CLERK
Space Ab.ye This Line For Recording Data
MORTGAGE
DATE AND PARTIES. The date of this Mort,(lage (Security Instrument) is November 13, 2002. The parties and
their addres;ms are:
MORTGAGOR:
CINDY A GRAMKE
Vesu;d in the Following Manner:
1681 TROY CT
KEMMERER, Wyoming 83101
ANGELA M GRAMKE
Vcst{;d in the Following Manner:
1681 TROY COURT
KEMMERER, Wyoming 83101
CHRISTINE A GRAMKE
Vested in the Following Manner:
1681 TROY COURT
KEMMERER, Wyoming 83101
LENDER:
COMMUNITY FIRST NATIONAL BANK
Organized and existing under the laws (,t the United States of America
801 Pine Avenue
Kemmerer, Wyoming 83101
1. CONVEYANCE. For good and valuable c,.,nsideration, the receipt and sufficiency of which is acknowledged,
and to secure the Secured Debts and Mortga!lor's performance under this Security Instrument, Mortgagor grants,
bargains,m6nveys, mortgages and warrants to Lender, with the power of sale, the following described property:
LOT 5B OF BLOCK 1 OF THE LINCOLN HEIGHTS 5TH ADDITION, FIRST FILING, TO THE CITY OF KEMMERER,
LINCOLN COUNTY, WYOMING AS DESCRIBEL) ON THE OFFICIAL PLAT THEREOF
The property is located in LINCOLN County at 1681 TROY CT, KEMMERER, Wyoming 83101,
CINDY A G~^MKE
Wyoming MeringUe
WYI4Amhvel¥OO6000OOOO3652024111302Y
~'1996 Banke(s Sv.*4em~. Inc., $~. C[oud. MN ~'~-"r~,~'
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T~cther wizh all rights, casements, appurtenances, royah~es, mineral righ[~, oil and gas righ~, all water and
riparian rights, well~, di~che~ and water sro:: k and a~J existing and ~uture ~mprovements, structures, fixtures, and
re~lacemen~ tha~ may now, or at any tim~: in the future, be p~rt of the real estate described (all refer~ed to
P~o~erty). Thi~ Security ~nstrumen~ will restrain in effect until the Secured Debt~ and all underlying agrcemems
have been ~erm~nated in writing ~y Lender.
2. MAXIMUM OBLIGATION LIMIT. The ~otal principal amount secured by ~his Security Instrumen~ at any one t~me
will no~ exceed 525,000.00. This limitation r,f amount does not include interest and other fee~ and charges validly
made pursuant to thi~ Security Instrument. Also, this limitation does not ap~ly te advances made unde~ ~he terms
o~ this Securit~ ~ns~rumen~ ~o pro,oct Lend,.~r's security and to pecform any of thc covenants contained in ~his
Security In~rumeQt.
3. SECURED D~BT~. This Security Instrume~t will secure ~he ~ollowin~ Secured Debt~:
A. Specific D~t~. The following deht~ and ~11 ex~ension~, renewals, refinancin~s, modifications and
replacements. A p~omissory note, No. 3888600110, dated NovemSer 13, 2002, from C~NDY A GRAMKE
IBorrowcr) to Lender. with a ~oan amount of ~25,000.00 w~th an initial variable inzerc~t ~aze o~ 5.2 percent per
year until November 13, 2005, after which time it may chan~e as the promissory noze ~resc~ibes and maturing
on November 15, 2011.
B. ~ums Advanced. Ali s~ms advanced and expenses incurred by Lender under the term~ of thi~
Instrument.
4. PAYMENTS. Mortgagor agrees ~ha~ alt payment~ under the Secured Debts will be paid when due and
aocordanc~ with the terms of the ~ecured Debts and ~his Securily Instrument.
5. PRIOR ~ECURITY INTERESTS. With regard to any other mortgage, deed of ~rust, security a~recment or other
lien documen~ zhat created ~ prior security interest or encumbrance on the Property, Mortgagor agree~:
A. To make all payments when due and ~o perform or comply with all covenants.
B. To promptly deliver to Lender any nolic~.:~ that Mortgagor receives ~rom the holder.
C, No~ m allow ~ny modification or ext~..nsion of, nor to request any tutur~ advances under any note or
agreemen~ secured by ~he lien document w~thout Lender's prior written con~ent.
6. CLAIMS AGAINST TITLE. Mortgagor will pay all t~xcs, assessments, liens, encumbrances, lea~e payments,
ground ren~s, utilities, 8nd other charges rel,~ting to the Property when due. Lender m~y require Mortgagor 1o
provide to Lende~ copies of ell notices thaL such amounts are due and the receipts evidencing Mor~gagor's
payment. Mortgagor will defend title to the P~opertv against ~ny claim9 that would impair the lien of ~h~s Security
Instrument. Mortgagor agrees to assign ~e Lender, as requested ~y Lender. any rights, claims or defenses
Mortgagor may have ~gainst parties who supply labor or materiels to mainl~in or improve ~he Property.
7, DUE ON SALE. Lender may, at its Option. declare the entire balance of thc Secured Debts ~o be immediately
duc ~nd payable upan the creation of. or contract for the creation of, a Transfer or sale o~ the Property. This right
i~ ~ubjcct ~o the restrictions imposed 5y federal law governing the preemption ot. state due-on-sale I~ws,
applicable.
8. WARRANTIE~ AND REPRESENTATIONg, Mortgagor has the righ~ and authority to enter into this Security
Instrument. The execution and delivery ot Ibis Security Instrument will not violat~ any a~reement governing
Mortgagor or to which Mortgagor is a party.
9. PROPERTY CONDITION. ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition
~nd make afl repairs that are reasonably neces~.~ry. Mortgagor will not commi~ or ~llow any waste, impairment, or
deterioration o~ the Property. Mortoegor will keep the Propert~ free of noxious weeds an8 grasses. Mortgagor
agrees thot the nature of the occupancy and use will not substantially change without Lender's prior written
consent. Mortgagor will not permit ~ny change in ~ny license, restrictive covenant or e~sement without Lender's
prior w~[~ten consent. Mortoe0or will notif~ Lender of all demands, p~oceedings, cl~im~, and actions againsT'
Morlgagor, ~nd of any loss or damage to the P~operty.
Lender or ~ender's agents may, at Lender's oration, ~nter the Property at any reasonable time for the purpose
inspecting the Property. Lender will ~ive M,rtg~gor notice ~t the time of or before an inspection specifying a
reasonable purpose for the inspection. Any ,~specfion of the Property will be entirely for Lender's ben,fit and
Mortgagor will in no way rely on Lender's inspuction.
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10. AUTHORITY TO PERFORM. If Mortgagor I'ails rD perform any duty or any of the covenants contained in this
Security Insjrument, Lender may, without 'n(~ice, perform or cause them to be performed. Mortgagor appoints
Lender as altorney in fact to sign Mortgagor's name.or pav any amount necessary for performance. Lender's right"
to perform lot Mortgagor will not create an oJ,Jigarion to perform, and Lender's failure to perform will not preclude
Lender from exercising any of Lender's other ~ghts under the law or this Security Instrumen[. If any construction
on the Property is discontinued or not carried on in a reasonable manner, Lender may take all slaps necessary to
protect Lender's security interest in the Property, including completion of the construction.
11. ASSIGNMENT OF LEASES AND RENTS Mortgagor assigns, grants, bargains, conveys, mortgages and
w~rrants To Lender as additional security all thc right, title and interest in the following (all referred to as Property):
existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use
and occupancy of the Property, including any extensions, renewals, modifications or replacements (all referred to
es Leases); and rents, issues ancJ profits (all re;ferrari to as RentsJ. In the event any item listed as Leases or Rents
is determined to be personal property, this A,~signmsnt will also be regarded as a security agreement. Mortgagor
will promptly provide Lcnder with copies of the Leases and will certify these Leases a,r~ true and correct copies'.
The existing Leases will be provided on exucutJon o! the Assignment, and ali future Leases and anv other
infr)rmation with respect to these Leases will be provided immediately after they are executed. Mortgagor may
collect, receive, cnjoy and use the Rents so long as Mortgagor is not in default. Upon default, Mortgagor will
receive any Rents in trust for Lender and Mortgagor will not commingle the Rents with any olher funds. Mortgagor
,~grces that this Security Instrument is immediately effective between Mortgagor and Lender. This Securitv
Instrument will romain effective during any statutory redemption period until the Secured Debts are satisfied. As
long as this Assignment is in effect, Mortgagor warrants and represents that no default exists under the Leases,
and the perties subject to the Leases have not violated any applicable law on Jesses, licenses and landlords and
tenants.
12. DEFAULT. Mortgagor will be in default if ,!my of the following occur:
A. Payments. Mortgagor falls or Guarantor fails to make a payment in full when due,
B. Insolvency. Mortgagor makes an ess~gnmen! for the benefit of creditors or becomes insolvent, either
because Mortgagor's liabilities exceed MorLgagor's assets or Mortgagor is unable to pay Mortgagor's debts as
they become due.
C. Death or Incompetency, Mortgagor dies or is declared legally incompetent.
D. Failure to Perform. Mortgagor fails to per,'arm any condition or to keep any ,promise or covenant of this
Security Instrument.
E. Other Documents. A default occurs undi=r the terms of any other transaction document.
F. Other Agreements, Mortgagor is in default on any other debt or agreement Mortgagor has with Lender.
G. Misrepresentation. Mortgagor makes mW verbal or written statement or provides any financial information
thai is untrue, inaccurate, or conceals a m~[erial fact at the time it is made or provided.
H. Juclgrnent. Mortgagor fails to satisfy or appeal anv iudgment against Mortgagor. '
I, Forfeiture, The Property is used in a maimer or for a purpose that threatens confiscation by a legal authority.
J, Name Change. Mortgagor changes ~ortgagor's name or assumes an additional name without notifying
Lender before making such a change.
K. Property Transfer- Mortgagor transfers all or a substantial part of Mortgagor's money or property, This
condition of default, as it relates to the t~nsfer of the Property., is subject to the restrictions contained in th~
DUE ON SALE section.
L. Property Value. The v=lue of the Properly declines or is impaired.
M. Insecurity. Lender reasonably believes ~hat Lender is insecure.
13. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument
evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
amounts advanced on Mortgagor's behalf will be immediately due and may be added to the balance owing under
the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available
on Mortgagor's default.
Subject to any right to cure, required time s¢.lledUleS or any other notice rights Mortgagor may have under federal
and state Jaw, Lender may make all or ar~y part of the amount owing by the terms of the Secured Debts
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~mmcdia[ely due and foreclose this Security .ns~rument in a manner provided by luw upon the occurrence of a
default or anytime thereaHer.
Upon any s,,le of the Property, Lender will m..~ke and deliver a special o~ limited warranty deed Ihal conveys the
property sold to the purchaser or purchasers. Under this special or limited warranty deed, Lender will covenant
that Lender has not caused or allowed a lien or an encumbrance to burden thc Properw and that Lender will
specially war~ant and defend the Property's tille of the purchaser or purchasers at the sale agains[ all lawful claims
and demand of all persons claiming by, throu¥1h or under Lender. The recitals in any deed of conveyance will be
prima tacit ~vidence of thc facts set forth thc,~in,
All remedies are distinct, cumulative and not exclusive, and the Lender is entitled ~o all remedies provided at law or
equiW, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial payment
on the Secured Debts after the balance is due or is accelerated or alter foreclosure proceedings are filed will not
constitute a waiver of Lender's right ~o requi~o full and complete cure of any existing default. BY not exercising'
any remedy, Lender does not waive Lender's ~ight to later consider the event a default if if continues or happens
again.
14. COLLECTION EXPENSES AND ATTORNEYS' FEES, On or after Default, t0 th'e extent permitted by law,
Mortgagor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies
under this Security Instrument. Mortgagor agrees to pay expenses for Lender to inspecl and preserve the PropcrW
and for any recordation cos~s of releasing fh[: Property from this Security Instrument. Expenses include, but are
not limited m, reasonable attorneys' fees afmr defaul~ and referral to an attorney not a salaried employee of the
Lender, These expenses are due and payable immediately. If not paid immediately, these expenses will bear
in,crest from the date of payment until paid in furl at the highest interest rate in effect as provided for in the terms
of the Secured Debts. To thc extent permitted' by the United States Bankruptcy Code, Mortgagor agrees ~o pay
the reasonable attorneys' fees Lender incurs to collect the Secured Debts as awarded by any court exercising
jurisdiction under the Bankruptcy Code.
15. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
means, without limitation, 1he Comprehensive Environmental Response, Compensation and Liabiliw Ac~ ICERCLA),
all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions o~
interpretive letters concerning the public health, safew, 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 substance," "hazardous waste," "hazmdous substance," or "regulated substance" under any Environmental
Law.
Mortgagor ~epresents, warrants and agrees th.~:
A. Except as previously disclosed and ack~owledgcd in writing to Lender, no Hazardous Substance is or will be
located, stored or released on or in.the Property. This restriction does not apply to small quantities of
Hazardous Substances ~hat are generally ~ecognized to be appropriate fo~ the normal use and maintenance of
thc Property.
B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have
been, are, and wilt remain in full complianc.~ with any applicable Environmental Law.
C. Mortgagor will immediately notify Lend,':r if a release or threatened release of a Hazardous Substance occurs
on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In
such an event, Mortgagor will take ali n~e~sary remedml action in accordance with any Environmental Law.
D, Mortga9or wilt immediately not~iy Lender in writing as soon as Mortgagor has reason to believe there is any
pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any
Hazardous Substance or the violation of arw Environmental Law.
16. CONDEMNATION. Mortga9or will give L,mder prompt notice of any pending or threatened action by private or
public entrees to purchase or take any or all of the Property through condemnation, eminent domain, or any other
means. ~ortgagor authorizes Lender to intervene in Mortgagor's .name in any of the above described actions or
claims. Morlgagor assigns to Lender the proceeds of any award or claim for damages connected with a
condemnation or giber taking of all or any p..~rt of the ProperW. Such proceeds wilt be considered payments and
will be applied as provided in [his Security Im;trument. This assignment of proceeds is subjec~ to the temps of any
prior mortgage, deed of ~rust, security agreement or other lien document.
CINDY A GRAMKE
wvom~ng Mer~Sege
Banker'. Svsleme. Inc., $1. Cloud, MN
vetynn60DOpOC~0365202411 ~1302¥
WY/4Xm
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37. INSURANCE, Mortgagor agrees to keep ~he Property insured against the risks reasonably as.~nciated with the
Property, Mortgagor will maintain this insuri~,~ce in the amounts Lender requires. This msulance will lost until tile
Property is released from this Security Instru',~ent, What Lender requires pursuant to ~he preceding sentences can
change du~ing The term of the Secured Debt,', Mortgagor may choose the insurance company, subject to Lender'~
approval, which will .not be unreasonably w~thheld. All insurance policies and renewals will include a standard
';mortgage clause" and. where applicable, "lo:,s payee clause."
Mortgagor will give Lander and the insuranc(: company immediate notice of any loss. All insurance proceeds wilt
be applied to restoration or repair of the Pror~erW or to the Secured Debts, at Lender's option. If Lender acquires
thc Property in damaged condition. Mortgagor's rights to any insurance policies and proceeds will pass to Lender to
the extent of the Secured Debts.
Mortgagor will immediately notify Lender of ¢ ;~ncellafion or termination of insurance. If Mortgagor fails to keep the '
Property insured Lender may obtain insuram'.e to protect Lender's interest in the Property. This insurance may
include coverages not originally required nf Mortgagor, may be written by a company other than one Mortgagor
would choose, and may be written at a higher rate than Mortgagor could obtain if tMortgagor purchased the '
insurance.
18. ESCROW FOR TAXES AND INSURANCE Mortgagor will not be required to pay to Lender funds for taxes and
insurance m escrow.
19. CO,SIGNERS. If Mortgagor signs this .~,,;curity Instrument but does not sign the Secured Debts, Mortgagor
does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debts and
Mortgagor does not agree to be personally hable on the Secured Debts. If this Security Instrument secures a
guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from
brin0ing any action or claim ~geinst Morley, got or any party indebted under the obligation. These rights may
include, but are not limited [o, any anti-defici,,~cy or one-action laws.
20. WAIVERS. Except to the extent prohibited by law. Mortgagor waives all homestead exemption rights relating
to the Property.
21. APPLICABLE LAW. This Security Instr,.~mcnt is governed by the laws of Wyoming, except to the extent
otherwise required by the laws of the jurisdiction where the Property is located, and the United States of America.
22. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgagor's obligations under this Security
Instrument are independent of the obligations of any other Mortgagor. Lender mav sue each Mortgagor individuarly
or together with any other Mortgagor. Lan, let may release any part of the Property and Mortgagor will still be
obligated under this Security Instrument for the remaining Property. The duties end benefits of this Securitv'
Instrument will bind and benefit the successors and assigns of Lender and Mortgagor.
23. AMENDMENT. INTEGRATION AND SEVERABILITY. This Security Instrument may not be amended or modified
by oral agreement. No amendment or modlf,catlon of this Security Instrument is effective unless made in writing
and executed by Mortgagor and Lender. Th~s Security Instrument is the complete and final expression of the
agreement. If any provision of this Security Instrument is unenforceable, then the unenforceable provision will be
severed and the remaining provisions will still be'enforceable,
2.4. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The
section headings are for convenience only and are not to be used to interpret or define the terms of this Securitv
Instrument,
25. NOTICE. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any
notice will be given by delivering it or mailing it by first class mail to the appropriate party's address listed in the
DATE AND PARTIES section, or to any other address designated in writing. Notice to one party will be deemed to
be notice to all parties. Mortgagor will inform Lender in writing of any change in Mortgagor's name, address or
other application information. Mortgagor will provide Lender any financial statements or information Lender
requests? -All financial statements and inlormation Mortgagor gives Lender will be correct and complete.
Mortgagor agrees to sign, deliver, and file ~ny additional documents or certifications that Lender may consider
necessary [o perfect, continue, and preserve Mortgagor'$ obligations under this Security Instrument and to confirm
Lender's lien status on any Property. Time is of the essence.
CINDY A OflAMKE
Wyomm~
W¥1~Xml,vel¥0OeOOOOO003SS~02'~ 1 ~ 3302Y
*:1996
FAX NO. :
Nov 13 2002
13:30
Nov. 13 2ee2 03:49PM PlO
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SIGNATURES. By signing, Mortgagor agree: to the [erms and covenants contained in this Security Instrument.
Morlgagor also acknowledges re, c¢ipt of a copy of this Security Instrument.
MORTGAGOR:~ ~ ~~ __
~A GRAMKE
--~EL~r M GRAMKE
CHRISTINE A G~(/~MKE
ACKNOWLEDGMENT,
~, ANGELA M GRAMKE, and CHRISTINE ~MKE.~ My commission ,xpires:
(Notary Public)
[~ NoIo~ PuMic $tote ef'Nevade ~
~t No. 01-70034-1
el996 B&r~ket. Syst~:ms, Inc., St. CloU4~. MN F-x~'~=~"
ClNOY A GRAIvIKE
W yom"~g Mor~g,ge
1302¥