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HomeMy WebLinkAbout889977State of Wyoming REOF~IVED LINI.,OLr.,I COLIt;ITY OLERK hove This L p e ' e F r Recording Data MORTGAGE (With Future Advance Clause) DATE AND PARTIES. The date of this Mortgage (Security Instrument) is .0~-.qT.-.2.qO3. .................................... and the parties, their addresses and tax identification numbers, if required, are as follows: MORTGAGOR: TONY CRNKOVICH AND BRENDA CRNKOVICH, HUSBAND AND WIFE 91 TOMS CANYON RD AUBURN, WY 83110 [] If checked, refer to the attached Addendum incorporated herein, for additional Mortgagor their signatures and acknowledgments. LENDER: THE BANK OF STAR VALLEY ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF WYO~NG 384 WASJ-IINGTON STREET PO BOX 8007 AFTON, Wi' 83110 B3-0315143 CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is ackn,)wledged, and to secure the Secured Debt (defined below) and Mongagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the following described property: tOT 6 THE Et-JEAN ESTATES TO THE TOWN OF THAYNE, UNCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. Thc property is located in ............................... .I).N.q.o.LN. ............................... at .L.O.~ .6. .E.L.J.EC..N.S..U. ,D.I.V.I.S.I.~.N. ..................... (County) ................................................ : ............................. T~. YN ~. ............ Wyoming ~ 127 , (Address) ' ' (City) ................. i~I'I~ ~ ~l'e') ...... Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may now or at any time in the future, be.part of the real estate described above (all referred to as "Property"). MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ .1.3. , .1.1. ! ..q 0. ........................................... This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to a~vancesL made under the terms of this Security InStrument to protect Lender's security and to perform any of the covenants contained ia this Security Instrument. SECURED DEBT AND ~ ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of all promisso~ note(s), contract(s), guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.) ONE PROMISSORY NOTE. DATED 5-7-03 IN THE AMOUNT OF $13,111.00 WYOMING - MORTGAGE (NOT FOR FNMA. FHLMC, FHA OR VA USE) c~)1994 Bank, ............. Inc., St, Cloud, MN (1-800-397-2341) Form RE MTG-WY (page 1 of 4) B. All future advances from Lender to Mo~gagor or other future obligations of Mortgagor to Lcrdcr under any PromissoW note, contract, guaranty, or other evidence of debt executed by Mortgagor in favor of Lender ~xccutcd after this SccuriW Instrument whether or not this SecufiW Instrument is specifically rcfcrcnccd. If mom ~han one,person sig~ ~hls SccufiW Ins~rumc~, each Mo~gagor agrees rha~ ~his SccufiW I~rumcnt will secure all future advances and future obligations ~hat are given to or incurred by any one or more Mo~gagor, or aW one or mom Mo~gag~r and o~hcrs. All fumm advances and other future obligafio~ arc sccumd by ~his SccufiW Instrument cvcn ~hough a~l o~ pa~ may not yet bc advanced. All future advances and o~hcr future obligations am secured ns ff made on thc da~c of ~his SccufiW Ins~mmcnL No~hing in this SccuriW Instrument shall constitute a co~i~cnt ~o make additional or fumr~ loans or advances in any ~ounL AW such co~i~cnt mus~ be agreed ~o in a separate writing. C. All obligatio~ Mo~gagor owes to Lender, which may la~cr arise, ~o thc cxtcn~ not prohibkcd by law, including~ bu~ l~i~cd ~o, liabilities for overdrafts relating ~o any dcposk account agreement between Mo~gagor ~nd Lender; D. All additional sums advanced and cxpc~cs incurred b~ Lender for i~ufing, prcsc~ing or o~hcrwisc pro~ccdng Pmpc~y and its value and any other sums advanced and expenses ~ncurrcd by Lender under ~hc tc~s of ~his 8ccufi I~rumcm. ~ 0f t~ tig~t~of'te~ci~sidn.- ....... This 3ecurity:instrmnent 'wiil'-'aot secure-any'Other"fieut if Lender ~ils to-give any '~quired notice 5. PA~S. Mo~gag°r agrees that all payments under the Secured Debt will be paid when due and in accordance with the te~s of the Secured Debt and this Security Instrument. 6. P~OR SEC~Y ~STS. With. regard to any other moagage, deed of trust, securiW agreement or other lien document that created a prior security interest or encumbrance on the Prope~, Mortgagor agrees: A. To make all payments when due and to perfo~ or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C. Not to allow any modification or exte~ion of, nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written cement. 7. CL~S AG~ST T~LE. Mortgagor will pay all taxes, assessments, liem, encumbrances, lease payments, ground rents, utilities, and other charges relating to the PropeW when due. Lender may require Mortgagor to provide to Lender copies of all notices that such mounts are due and the receipts evidencing Mortgager's payment. Mo~gagor will defend title to' the Prope~y against any cla~s that would ~pair the lien of this SecuriW Imtrument. Mo~gagor agrees to assign to Lender, as requested by Lender, any rights, cia,s or defemes Mo~gagor may have agai~t pa~ies who supply labor or materials to maintain or ~prove the Prope~. t 8. D~ ON S~E OR ENC~B~CE. Lender may, at its option, declare the en ire balance of the Secured Debt to be ~ediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, tramfer or sale of the Property. This right is subject to the restrictio~ ~posed by federal law (12 C.F.R. 591), as applidable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this SecuriW l~tmment is released. PROPERTY CO~ION ~~TIONS ~ ~SPECTION Men a or will kee the Pro e _ . :d d .... 9. , · g g p p~ mgoo con men aha make all repairs that are reasonably necessaw. Mo~gagor shall not co--it or allow any waste, ~pai~ment, or deterioration of the Prope~y. Mo~gagor Will keep the Property free of noxiou~ weeds and grasses. Mo~gagor agrkes that the nature of the occupancy and use will not substantially change without Lender s, prior written consent. Mortgagor ~ill not pe~it any change in any'license, restrictive cove~nt or easement without Lender s prior wriUen consent. Mo~gago~will noti~ Lender of all demands, proceedings, cla~s and actions against Mo~gagor, and of any loss or d~age to the Prope~. L rider or Lender s agents may, at Lender s option, enter the Prope~ at any reaso~ble t~e for the purpose of respecting the Propeay. Lender shall give Mo~gagor notice at the t~e of or before an i~pection specifying a reasonable purpose for the inspection. Any inspection of the Prope~ shall be entirely for Lender's benefit and Mo~gagor will in no Way rely on Lender's inspection. 10. A~O~Y TO PE~O~. If Moagagor fails to perf0~ any duty or any of the 'covenants C ntained in this Security Instrument, Lender may, without notice, perfo~ or cause them to be perfo~ed. Moagagor appoi[nts Lender as attorney fact to sign Mortgager's n~e or pay any mount necessaw for perfo~ance. Lender s right to peffo~ for Mortgagor shall .not create an obligation to perfex, and Lender's failure to perfo~ will not preclude Lender from exercising any of Lender's other rights under the law or this Security Imtrument. If any co~truction on the Prope~ is discontinped or not carried on in a reasonable manner, Lender may take all steps necessaw to protect Lender's securiW interest ia the Prope~, including completion of the construction. ' 11. ASSIG~ OF LEASES ~ ~S. Mortgagor irrevocably grants, bargains, 'conveys, mongages and warrants to Lender as additional security all the right, title and interest in and to any and all existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any poaion of the Prope~, ~ncluding any extensions, renewals, modfficati~ or substitutio~ of such agreements (all referred to as "Leases") and ren{s, issues and profits (all referred to as "Rents ). Mo~gagor will promptly provide Lender with true and correct copies of all existing~ and future Leases. Mo~gagor may collect, receive, 'enjoy and use the Rents so long as Mortgagor is not in default underI the te~s of this Security I nstrume nt ' Mo~gagor agrees that this assigment is ~ediately effective between the pa~ies to this Securi~ I~trument. Mo~gagor agrees that this assigment is effective as to third paaies when Lender ~kes~ affi~ative action prescribed by law, and that this assigment will remain in effect during any redemption p~riod until the'Secured Debt is satisfied. Mo~gagor agrees that Lender may take actual possession of the prope~y without the necessity of co~encing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Moagagor of default and demands that any tenant pay all future Rents directly to Lender. On receiving notice of dehult, Mongagor will endorse and deliver to Lender any payment of Rents in Mo~gagor's possession and will receive any Rents in trust for Lender and will not co--ingle the Rents with any other funds. Any mounts collected will be applied as provided in this Security Instrument. Moagagor warrants tfiat no default exists under the Leases or any applicable landlord/tenant law. Mo~gagor also agrees to maintain and require any to comply with the te~s of the Le~es and applicable law. (page 2 of 4) ~)1994 Banker ......'nc., St. Cloud, MN {1-8OO 397-2341) Form RE-MTG-WY ° · :'~:~..: 12. provisions ~.of any::'.l~s'ei~-~-" if tl/i~" Security Instrument is on a leasehold. If the Property includes a unit planned:.unit,develo~mfintl 'M0i:t~agbr will perform all of Mortgagor's duties under the covenants, b the c0ndoinil/ihm 0r Planned unit development. 878 .~s to comply with the in a condominium or a /-laws, or regulations of Inc., St, Cloud, MN (1-800-397-2341) Form RE-MTG-WY ;' ~::~: :: (page 3 of 4) ~)1994 Bank~' ..... 13. DEFAULT. Mortgagor will be in default if any party obligated on the Secured Debt fails to make payment when due. Mortgagor will be in default if a breach occurs under the terms of this Security Instrument or any ofi~e, r document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender at any time is tnsecure with respect to any person or entity obligated on the Secured Debt or that the prospect of an5' payment or the value of the Property is impaired shall also constitute an event of default. 14. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provid~ Mortgagor with notice of the right to cure or other notices and may establish time schedules for foreclosure actions. Subject to these limitations if any, Lender may accelerate the Secured Debt and foreclose this Security InstrUment in a manner provided by law if Mortgagor ts tn default. At the option of Lender, alt or any part of the agreed fees and charges, accrued interest and principal shall become inmqediately due and payable, after giving notice ff required by law, upon the occurrence of a default or anytim~ thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Sechrky Instrument 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 enlitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the balanc~ is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right t6 later consider the event a default if it continues or happens again. · 15. EXPENSES; ADVANCES ON coVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. IExcept when pr°lfibited by law, Mortgagor agrees to pay all of Leader's expenses if Mortgagor breaches any covenant in ~his Security Instrument. Mortgagor will also pay on demand any amount incurred by Lender for insuring, inspecting, preserving or otherwise protecting the Property and Lender's security interest. These expenses ill bear interest from the date of the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Mortgagor a~rees to pay all costs and expenses incurred by Lender in collecting, enforcing or protecting Lender's rights and remedies under :his Security Instrument. This amount may include, but is not limited to, reasonable attorneys' fees, court costs, and other legal expenses. This amount does not include attorneys' fees for a salaried employee of the Lender. This Security Instrument sh,'ll remain in effect until released. Mortgagor agrees to pay for any recordmion costs of such release. 16. ENVIRONMENTAL LAWS AND ItAZA._R_DOUS SUBSTANCES. As used in this section, (I) En',ironmental LaTM means, without limitation, the ComPrehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and 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 subst4nce; 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 l 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: A. Except as previously disclosed and acknowledged 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 that are generally recognized to be appropriate for the normal use and maintenance of the Property.aa/n B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every te t have been, are, and shall remain in full compliance with any applicable Environmental Law. / C. Mortgagor shall immediately notify Lender 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 shall take all necessary remedial action in accordance with any Environmental Law. D. Mortgagor shall immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any pending or thethreatenedviolationinvestigati°n'of any Envir0nmentalclaim' OrLaw.proceeding relating to the release or threatened release of any Hazardous Sukstance or 17. CONDEMNATION. Mortgagor will .give Lender prompt notice of any pending 'or threatened action, by private or public entities to purchase or take any or all 9f the Property through, condemnation, eminent domain, or any a/her means. Mortgagor · ~-,,~,.~:~ ~,>,,ue, .to t~er'.,'~ae.~"m:::!Marrgagar~s .~¢:'ia':any. of the ~:~e'.flesc~i~ed aztlons, or claim ;, Mortga~gor: a~s~g~ to Lender the proceeds of any award or claim for damages connected with a condemnation Or other taking of all or .any part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 18. INSURANCE. Mortgagor shall keep Property insured against loss by fire, flood, theft and other haza~rds and risks reasonably associated with the Property due to its type and location. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance career provtdmg the insurance shall be chosen by Mortgagor subject to Lender's a,mroval, which shall not be unreasonably withheld. If Mortgagor 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 Security Instrument. All insurance policies and renewals shall be aCceptable to Lender and shall include a standard "mort age clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. Lender shall have the right to hold the policies and renewals. If Lender requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give immediate noticeI to the insurance carrier and Lender. Lender may make proof of loss if not made immediately by Mortgagor. Unless otherwise agreed in writing, all' insurance proceeds shall be applied to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Lender's option. Any application of proceeds to principal shall not extend or 679 postpone the due date of the scheduled payment nor change the amount of any payment. Any excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. I a Se arate 19. ESCROW FOR TAXES AND INSU-RANCE. Unless otherwise provided in ; ilgerei~e~i Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor wil prov ader upon request, any financial statement or information Lender may deem reasonably necessary. Mortgagor agrees to s gn, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, nd preserve Mortgagor's obligations under this Security Instrument and Lender's lien status on the Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but does notI sign an evidence of debt, Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment Of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument s&ures a guaranty between Iender and Molt,~a~.or, Mo.~Ea~or a~rees to u,aivo aP.V r;vhts that may revotlt I endor From hr;-.o;no an, a-,i , c ~' - '~ . ' : '='- ..... -~- ,~' ........... . '~ ........ , P .................. o-~, ~ Y ,-o_ or_!~nn- against Mortgagor or any party indebted under the obligation. These rights may include, but I are not limited to, any anti-deficiency or one-action laws. Mortgagor agrees that Lender and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortuauor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and Ib~e~efits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. · 22. APPLICABLE LAW; SEVERABIL1TY; INTERPRETATION. This Security Instrument 'is govprned 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 Security Instrument is complete and fully integrated. This Security Instrumefit may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreemelnt related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly IPermits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include, the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. ITime is of the essence in this Security Instrument. . 23. NOTICEi Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing Notice to one mortgagor will be deemed to be notice to all mortgagors. ' 24. WAIVERS. Except to the extent prohibited by law, Mortgagor Waives any right regarding the marshalling of liens and assets and all homestead exemption rights relating to the Property. 25. OTHER TERMS. If checked, the following are applicable to this Security Instrument: [] Line of Credit. 'The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument' will remain in effect until released. [] Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. / [] Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property. This Security Instrument suffices/as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. [] Riders. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] [] Condominium Rider [] Planned Unit Development Rider [] Other ......................................................... [] Additional Terms. SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. ACKNOWLEDGMENT: ~ STATE OF WYOMING ., COUNTY ,OF aP-'-'O//'/'/:k ....... : ....... = .... 'CS:'g ........ } ss. (kqdividual) This instrument was acknowledged before me this ...... ~..~..&. ........ day of ...~'~.6~?( ....~ ............................... by f.O..~Y..C.R.N..K.O.V.I.C.H.; .B.R.E..N.O.A..C..FI.N.K..OyI.C.H HUSBAND AND W FE ..... ©1994 Banke,~ c,,..~. Inc., St. Cloud, MN (1-800-397-2341) Form RE-MTG-WY (page 4 of 4)