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FORM 501¢ (6-2001)
RETURNTO Farm Credit ServiCes of America, P.O. Box 711 Brad W. Willford
PREPARER: Kemmerer, WY 83101-0711 (800)697-1033
Farm Credit Services of America
REAL ESTATE MORTGAGE
For the State of Wyoming
Open-End 'Fo Secure Present and Future Obligations ~nd Advances
Date: January 04, 2002 '
Mortgagor(s):
Eugene K. WortOn, Trustee for Worton Family Trust UDT May 10 1995 ~
Eugene K Worton and Susan F. Worton, husband and wife
Mailing Address: 24.4. Toms Canyon RD
Auburn WY 83111-8812
The abo~e named Mortgagor(s] in consideration of the advance by Mortgagee of the principal sum specified below, the receip~ of which is hereby
acknowledged, and any future, additional or protective advances made at Mortgagee's option, hereby sell, convey, and mortgage tu Farm Credit
Services of America~ FLCA., 206 S 19th Street, Omaha, NE 68102-1745, Mortgagee, its successors and assigns, from the date
obligations secured hereby are paid in full, the following-described real estate ira Lincoln County(ies), .W.¥omi~nc], to wit:
Exhibit "A" attached hereto and made a part hereof. Susan F. Worton, as spouse of
Eugene K. Worton, executes this mortgage for the sole purpose of releasing any
interest she may claim in the premises as the spouse of Eugene K. Worton, She does
not claim any rights in the above described property, nor does she promise to pay
any of the debt secured by this mortgage.
together wiLh ali Mortgager's right, title, and interest in the property, now or hereaftei acquired, including: all buildings, fixtures, crops, and
improvements now on or hereafter pieced upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income,
profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property
that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and
accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belongir~g [o
or in any way pertaining td the property, whether or not specifically described herein; all above and below ground irrigation equipment and
accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended, or
renewed by Mortgagor(s), any State, 'the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively
referred to in this document as the "property."
It is understood and agreed between Mortgagor(s) and Mortgagee that this mortgage is given to secure the repayment in full of the foflowing
described promissory note(s), and all future and additional loans or advances, protective or otherwise, which may be made by Mortgagee, at its
option, at the request of, and to or for the account of Mortgagor(s), or any Of them, for any purpose, p!us interest thereon, a]J payable according
to the terms of the note(s) or other instrument(s) modifying the same.
Date of Note Principal Amount
01/04/~' 350,000,00
Provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of THREE
HUNDRED FIFTY THOUSAND DOLLARS ($ 350,000.00), exclusive of interest and protective advances authorized herein or in
agreement(s).
NOTHING CONTAINED HEREIN SHALL CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONALADVANCES IN ANY AMOUNT AT ANY
TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
This mortgage will be due January 01, 2022.
Mortgagor(s) hereby warrants that Mortgagor(s) holds fee simple title to the above described property, that Mortgagor(s) has good and lawful
authority to mortgage the same, that the property is. free and clear of all liens and encumbrances, except encumbrances of record, and that
Mortgagor(s) will warrant and defend the property at Mortgager's expense against all claimants whomsoever. Mortgagor(s) also hereby waives and
relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property.
Mortgagor(s) and each of them further covenant and agree with Mortgagee as follows: :
1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon
the property or under any lease, permit, license, or privilege assigned to Mortgagee as additional security to this mortgage, including those in or on
public domain.
2. To insure and i(eep insured buildings and other improvements, including fixtures and attachments now on or hereafter placed on the property
to the satisfaction of Mortgagee. Such insurance will be approved by and deposited with Mortgagee, and endorsed with a mortgage clause with
loss payable to Mortgagee. Any sums so received by Mortgagee may be applied in payment of any indebtedness matured or unmatured secured
by this mortgage, or at the option of Mortgagee may be used to pay for reconstruction of the destroyed improvements. Such insurarlce will be in
an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will
at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
1/We will obtain and keep flood insurance in force to cover losses by flood as required by Lender and by the National Flood InsuranCe Act of 1968,
as amended, and by regulations implementing the same. I/We further agree that Lender is not and will not be liable for any failure by me/usor by
aoy insurer, for whatever reason, to obtain and keep this insurance in force.
3, To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair,
maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Mortgagee may
enter upon the property to inspect the same or ~o perform any acts authorized herein or in the loan agreement(s),
4. hi the event Mortgagor{s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property,
At) #:00235548; Primary Customer ID it: 00070033; CIF ft: 78212 Legal Doc. Date: January 04, 2002
FORM 501 4, P;,.,-,='*~,,~¢:":,,'~-'~t Mortgage 5' "; ':57:::::¢(~ Pade 1
buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Mortgagee, at ils option, may make such payments
or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be
immediately due and payable and bear interest at the default rate provided inthe note(s) from the date of payment until paid. The advancement
by Mortgagee of any such amounts wi[~ in no manner limit the right of Mortgagee to declare Mortgagor(s) in default or exercise any of Mortgagee's
other rights and remedies.
5. In the event Mortgagee isa party to any litigation affecting the property or the lien of tiffs mortgage, including any action by Mortgagee to enforce
this mortgage or any suit in which Mortgagee is named a defendant (including condemnation and bankruptcy proceedings) Mortgagee may incur
expenses and adva ~ce payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, appraisal fees, and other charges
and any amounts so advanced will become part of the principal indebtedness secured hereby, be immediately due and payable arid bear interest
at the default rate provided Jn the note(s) from the date of advance until paid.
6. Any awards made to Mortgagor(s) or their successors by the exercise of eminent domain are hereby assigned to Mortgagee; and Mortgagee is
hereby aud~orized to collect and apply the same in payment of any indebtedness, matured or unmatured, secured by this mortgage.
7. In the event of default in the payment when due of any sums secured hereby (principal, interest, ad6ancements, or protective advances), or failure
to perform or observe any covenants and conditions contained herein, in the note(s), loan agreemer~t(s), or other instrument(s), or any proceeding
is brought under any Bankruptcy laws, Mortgagee, at ils option, may declare the entire indebtedness secured hereby to be immediately due and
payable and the whole will bear interest at the default rate as provided in the note(s) and Mortgagee may immediately foreclose this mortgage or
pursue any other remedy at law or equity, including foreclosure by advertisement witb a power of sale in Mortgagee to the extent provided by
applicable law. Delay by Mortgagee in exercising its rights upon default will not be ¢onstrued as a waiver thereof and any act of Mortgagee waiving
any specific default will not be construed as a waiver of any future default. If the proceeds tinder suchsaieor foreclosure are insuffficient to pay
the to[al indeb[edness secured hereby, Mortgagor{s) does hereby agree to be personally bound to pay the unpaid balance, and Mortgagee will be
endtled to a deficiency judgment.
8. Upon de[au[t, Mortgagee will at once become entitled to exclusive possession, use, and enjoyment of the property and to all rents, issues, crops,
profiLs, and income thereof, from the time of such default and during the pendency of foreclosure proceedings and the period of redeluption, the
delivery of which, may be;enforced by Mortgagee by any appropriate suit, action, or proceeding. Mortgagee witlbe entitledto aReceiver for the
property and all rents, issues, crops, profits, and income thereof, without regard to the value of the property, or the sufficiency thereof to discharge
the mortgage debt and tile foreclosure costs, fees, and expenses. Such Receiver may be appointed by any courtof competent jurisdiction upon .
ex parteapplication, notice being hereby expressly waived. The Receiver wiJlapply all rents, issues, crops, profits, and income of the property to
keep the same in good repair and condition, pay all taxes, rents, fees, cha~ge's, and assessments, pay insurance premiums necessary to keep the
property insured, pay the expense of the receivership and attorney fees incurred by the Receiver, and apply the net proceeds to the payment of the
indebLednesssecuredi]ereby. Such Receiver will have all the other usual powers of receivers authorized bylawand asthe court may direct.
9. The integrity and responsibility of the Mortgagor(s) constitutes a part of the consideration for the obligations secured hereby. Should Mortgagor(s)
sell, transfer, or convey the property described herein without pdor written consent of Mortgagee, Mortgagee, at its opdon, may declare rite on[ire
indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default.
I0, Assignment of Rents including Proceeds of Mineral Leases. Mortgagor(s) hereby assigns, transfers, and conveys to Mortgagee all rents,
royalties, bonuses, and delay mooeys or other proceeds that may from time to time become due and payable under any real estate lease or under
any oil, gas, gravel, (ock, or other mineral lease of any kind including geothermal resources now existing or that may he[eafter come into existence,
covering the property or any part thereof. All such sums so received by Mortgagee will be applied to the indebtedness secured hereby; or Mortgagee,
at its option, may turn over and deliver to Mortgagor(s) er their successors in interest, any or all of such sums without prejudice to any of
Mortgagee's rigbtsto take and retain future sums, and without prejudice to any of its other rights under this mortgage. This assignment will be
construed to be a provision for the payment or reduction of the mortgage debt, subject to the Mortgagee's option as hereinbefore provided,
independen[ of the mortgage lienonthe property . Upon payment in full of the mortgage debt and ti~e release of this mortgage of record, this
assignment will become inoperative and of no further force and effect.
11. This Mortgage constitutes a Security Agreement with respect to ail the property described herein.
12. The covenents contained in this mortgage will be deemed to be severable; in thc event that any portion of this mortgage is determined to be
void or unenforceable, that determination will not affect the validity of the remaining portions of the mortgage.
Worton Family Trust UDT May 10 1995
E~ne ~arton, lrustee
) ss
CouNTYOF ~ ['~ ~0 ~ )
On this ~-.- day °f __Z.¢ * ~_~ ___, 20¢ ~ , before me, a Notary P,~bifc, personally appeared ~,f ¢1, 8
to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that _ /~
~__ voluntary act and deed as such Trustee(s) for the purposes therein mentioned. /)
{Type name un~~
COUNTYOF~ 6~(~ ) ss
On this ~k day of ~~ ~O¢~,before me, a Notary Public, personal,y appeared
to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that executed the same as
~¢ voluntary act and deed,
My commission expires.
Ap #:O0235548; Primary Customer ID #:00070033; CiF I/: 78212 Legal Doc, Date: January 04, 2002
FORM 5014, Real Estate Mortgage Pa.~te
T33N, R119W~ 6th P.M., Lincoln County, Wyoming_l
~ ~ NW~NE~ (less and except the North
Section 26: SE¥SW~; N½NW¼;
2 rods of the Said N~NW¼ and NWA-NE¼)
Section 27: NE¼NE¼
Section 35: N½E½NE~NW¼; East 94 rods of the S½NW¼ (less and
except Beginning at the Northwest one-sixteenth (NW1/16) corner
of said Section Thirty-Five and running South 0 degrees 13'
West, along the East line of the said Southwest Quarter Northwest
Quarter (SW¼NW¼), 54 feet to an existing fence line; thence
West, along said fence line and the West prolongation thereof,
231 feet; North 0 degrees 13' East, 54 feet to the south line
of the Northwest Quarter Northwest Quarter (NW¼NW¼), thence
East, along said South line, 231 feet to the Point of Beginning)
Worton Family Trust UDT ~,iay 10, 1995 ·
By:
Eugene K. t~orton, Trustee
Eugene K. Worton
Susan F. Worton