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HomeMy WebLinkAbout896457fl961 . 57 oorSq_5 p 8 0 2 Space Above This Line For Recording Data MORTGAGE DATE AND PARTIES. The date of this Mortgage (Security Insuumem) is December 23, 2003. The parties and their addresses are: MORTGAGOR: EUGENE P. FIACK 1003 Sorensen Dr Kemmerer, Wyoming 83101 SHERRI L. FIACK husband and wife 1003 Sorensen Dr. Kemmerer, Wyoming 83101 LENDER: COMMUNITY FIRST NATIONAL BANK Organized a'nd existing under the laws of the united States of America 801 Pine Avenue Kemmerer, Wyoming 83101 1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debts and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property' The Easterly 50 feet by 85 feet of Lot 12 of Block 45 of the Second Addition to the Town of Kemmerer, Lincoln County, Wyoming, as surveyed, platted and recorded, and more particularly described by metes and bounds as follows: Beginning at the northeasterly Corr~er of said Lot 12 of said Block 45 and running thence in a Westerly direction along the division line of Lots 12 and 13 of said Block a distance of 85 feet; thence in a Southerly direction on a line parallel to the Easterly and Westerly boundary line of said lot, a distance of 50 feet; thence Easterly along the division line of said Lots 11 and 12, a distance of 85 feet to the Easterly boundary line of said Lot 12; thence in a Northerly direction along said Easterly boundary line of Lot 12, a distance of 50 feet to the point of beginning. Eugene P. Fiack Wyoming Morlgage WY/4 XccarterOO6OOOOOO03657014122303Y ©1996 Ba~erns, Inc., St, Cloud, MN Ex'~"~'}'fi~." O 9645'? 603 EXCEPTING therefrom the land contained in Warranty Deed recorded November 18, 1903 in Book 63PR on page 323 of the records of the Lincoln County Clerk. The property is located in Lincoln County at 1041 Beech Ave., Kemmerer, Wyoming 83101. Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all diversion payments 6r 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, be part of the real estate described (all referred to as Property) This Security Instrument will remain in effect until the Secured Debts and all underlying agreements have been terminated in writing by Lender. 2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time will not exceed $38,000..00. 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 advances made under the terms of this Security Instrument to protect Lender's se,curity and to perform any of the covenants contained in this Security Instrument. 3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts: A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and replacements. A promissory note, No. 3888602575, dated December 23, 2003, from Mortgagor to Lender, with a loan amount of $38,000.00 with an initial variable interest rate of 5.0 percent per year until December 23, 2006, after which time it may change as the promissory note prescribes and maturing on December 31, 2015. B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security Instrument. 4. PAYMENTS. Mortgagor agrees that all payments under the Secured Debts will be paid when due and in accordance with the terms of the Secured Debts and this Security Instrument. 5. 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, 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 allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written consent. 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 Mortgag°r's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 7. DUE ON SALE. bender may, at its option, declare the entire balance of the Secured Debts to be immediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This right .is subject to the restrictions imposed by federal law governing the preemption of state due-on-sale laws, as applicable. 8. WARRANTIES AND REPRESENTATIONS. Mortgagor has the right and authority to enter into this Security Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing Mortgagor or to which Mortgagor is a party. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition · and make all repairs that are reasonably necessary. Mortgagor will not commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive Covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor, and of any loss or damage to the Property. Eugene P Fiack Wyoming Mortgage WY/4Xccar~.erO , 03657014122303Y ~'1996 Ba,'~c'~;,.$.;','-,tems. Inc., St. Cloud, MN No portion of the Property will be removed, demolished or r~aterially altered without Lender's prior wrl~tl~ln~JConsent 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 retent'ion device, security agreement or other encumbrance. Such replacement of personal property will be deemed Subject to the security interest created by this Security Instrument. Mortgagor will 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. Lender will give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property will be entirely for' Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform 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. Lender's right to perform for Mortgagor will not create an obligation to perform, and Lender's failure to perform will not preclude Lend'er from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction. 11. DEFAULT. Mortgagor will be in default if any of the following occur: A. Payments. Mortgagor fails to make a payment in full when due. B. Insolvency. Mortgagor makes an assignment for the benefit of creditors or becomes insolvent, either because Mortgagor's liabilities exceed Mortgagor's assets or Mortgagor is unable to pay Mortgagor's debts as they become due. C. Death or Incompetency. Mortg.agordies or is declared legally incompetent. D. Failure to Perform. Mortgagor fails to Perform any condition or to keep any promise or covenant of this Security Instrument. · E. Other Documents. A default occurs under 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 any verbal or written statement or provides any financial information that is untrue, inaccurate, or conceals a material fact at the time it is made or provided. H. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor. I. Forfeiture. The Property is used in a manner or for a purpose that threatens Confiscation by a legal authority. J. Name Change. Mortgagor changes Mortgagor'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 transfer of the Property, is subject to the restrictions contained 'in the DUE ON SALE section. L. Property Value. The value of the Property declines or is impaired. M. Insecurity. Lender reasonably believes that Lender is insecure. 12. 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 schedules or any other notice rights Mortgagor may have under federal and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately due and foreclose this Security Instrument.in a manner provided by law upon the occurrence of a default or anytime thereafter. Upon any sale of the Property, Lender will make and deliver a special or limited warranty deed that 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 oran encumbrance to burden the Property and that Lender will specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims Eugene P. Fiack Wyoming Mortgage WY/4XccarterO0600000003657014122303Y ©1996 Bat~.~,et.,~_Sy.~tems Inc., St. Cloud, MN prima facie evidence of the facts set forth therein. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled 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 Debts after the balance is due or is accelerated or after foreclosure proceedings are filed will not constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising any remedy, Lender does not waive Lender's right to later consider the event a default if it continues or happens again. 13. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the 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 inspect and preserve the Property and for any recordation costs of releasing the Property from this Security Instrument. Expenses include, but are not limited to, reasonable attorneys' fees after default 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 interest from the date of payment until paid in full at the highest interest rate in effect as provided for in the terms of the Secured Debts. To the extent permitted by the United States Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees Lender incurs to collect the Secured Debts as awarded by any court exercising jurisdiction under the Bankruptcy Code. 14. 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), 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 substance," "hazardous waste," "hazardous substance," or "regulated substance" under any Environmental Law. ~ Mortgagor represents, warrants and a~rees that: ~. [xcept as previousl~ disclosed and acknowledged in writin~ to kender, no Hazardous Substonce has been, or will be located, transpqrted, manufactured, treated, refined, or handled b~ an~ person on, under o, about the Prope[ty, except in the o~dinar~ course of business and in stdct compliance with all applicable [nvironmental g. '[xcept as previousl~ disclosed and acknowledged in writin~ to kender, Mortgagor has not and will not cause, contribute to, or permit th~ release o[ an~ Hazardous Substance on lhe ~roperW. C. Mortgagor will immed~iately notify kender if {11 a release or threatened release o[ Hazardous Substance occurs on, under or about, the ProperW or migrates or threatens to migrate from nearb~ prope[W; or {21 there a uiolation o[ an~ ~nvironmental law concernin~ the ProperW. In such an event, Mortgagor will take all necessar~ remedia~ action}in accordance with [nvironmental kaw. D. [xcept as previously d~sclosed and acknowledged in writin~ to kender, ~ort~o~or has no knowledge of or reason to believe there is~an~ pendin~ or threatoned investigation, claim, or proceedin~ of an~ kind relalin~ to {11 an~ Hazardous Substance located on, under or about the Propertg; or {2} ang violation b~ Mortgagor or tenant o[ an~ [nvironmental kaw. Mortgagor will immediatel~ noti[~ kender in writin~ as soon as Mortgagor has reason to believe there is any such pendin~ or threatened investigation, claim, or proceeding. In such an eUent, kender has the ri~Bt; but not the obligation, to parlicipate in ang such proceedin~ includin~ the right to receive copies o[ an~ docoments relatin~ to such proceedings. [. [xcept as previously disclosed and acknowledged in writin~ to kendeL Mortgagor and ever~ lenant have been, are and will remain i~n full compliance with an~ applicable [nvironmental F. [xcept as previousl~ disclosed and acknowledged in writin~ to kender, there are no under,round storage tanks, private dumps or open wells located on or under the ProperW and no such tank, dump or well will be added unless kender first consents in writing. G. Mortgagor will re~ularlg inspect the ~roperW, monitor the activities and operations on the ?ropert~, and confirm that all permits, licenses or approvals required b~ an~ applicable [nvironmental kaw are obtained and complied with. Eugene P. Fiack Wyoming Mortgage Initial~' WY/4XccarterOO600000003657014122303Y © 1996 Ban_k. er~.~.y_~tems Inc., St. Cloud, MN ~.~ P~ge 4 H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and f~:t the Property and review all records at any reasonable time to determine Il) the existence, 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 Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environmental Law. I. Upon Lender's request and at any time, Mortgagor agrees, at Mortgager'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 subiect to Lender's approval. J. Lender has the right, but not the obligation, to perform any of Mortgager's obligations under this section at Mortgager's expense. K. As a consequence of any breach of any representation, warranty or promise made in this section, (lj 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 o1' litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Security Instrument and in return Mortgagor will provide Lender with collateral of at least equal value to lhe Property secured by this SecuriW Instrument without peeiudice to any of Lender's eights under this SecuriW Instrument. L. Notwithstanding any of the language contained in this Security Instrument ~o the contrary, the ~erms el this section will survive any foreclosure or satisfaction of this Security Instrument regardless of any passage of title to Lender or any disposition by Lender of any or all o$ the Property. Any claims and defenses to the contrary are hereby waived. lB, 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 of the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgacjor's name in any of the above described actions or claims. Mo~tcjagor assigns to Lender the proceeds of any award or claim for damages connected with a condemnation ge other taking of all or any part. of the Property. Such proceeds will be considered payments and will be applied as provided in this Security Instrument. This assignmeni of proceeds is subiect to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 113. INSURANCE. Mortgagor agrees to keep the Property insured against the risks reasonably associated with the Property. Mortgagor will maintain ~his insurance in the amounts Lender requires. This insurance will last until the Property is released from this Security Instrument. What Lender requires pursuant to the preceding sentences can change during the term of the Secured Debts. Mortgagor may choose the insurance company, subiect to Lender's approval, which will not be unreasonably withheld. All insurance policies and renewals will include a standard "mortgage clause" and, where applicable, "loss payee clause." If required by Lender, Mortgagor agrees to maintain comprehensive general liability insurance and rental loss or business interruption insurance in amounts and under policies acceptable to Lender. The comprehensive §choral liability insurance must name Lender as an addilional insured. The rental loss o~ business in~enuphon insurance must be in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing.) Mortgagor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will be applied to restoration or repair of the Property or to the Secured Debts, at Lender's option. I~ Lender acquires the ProperW in damaged condition, Mortga§or's rights to any insurance policies and proceeds will pass to Lender to the extent of the Secured Debts, Mortgagor willimm~diately notify Lender of cancellation or termination of insurance. If Mortgagor fails to keep the Property insured Lender may obtain insurance to protect Lender's interest in the Property. This insurance may include coverages not originally required of 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 Mortgagor purchased the insurance. 17. ESCROW FOR TAXES AND INSURANCE. Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow.' 18. CO-SIGNERS. If Mortgagor signs this Security Instrument but does not sign the Secured Debts, Mortgagor does so only to mortgage Mortgager's interest in the Property to secure payment of the Secured Debts and Mortgagor does not agree to be personally 'liable on the Secured Debts. If this Security Instrument secures a Eugene P, Fiack Wyoming Mortgage WY/4XccarterQ, O:5~O3657014122303Y ©1996 13a~ems, Inc,, Cloud, MN guaranty between Lender and Mortgagor, 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. These rights may include, but are not limited to, any anti-deficiency or one-action laws.' 19. wAIVERS. Except to the extent prohibited by law, Mortgagor waives all homestead exemption rights relating to the Property. 20. FIXTURE FILING. Mortgagor gives 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. 21. APPLICABLE LAW. This Security Instrument is governed by the laws of Wyoming, except to the ex!ent 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 may sue each Mortgagor individually or together with any other Mortgagor. Lender may release any part of the Property and Mortgagor will still be obligated under this Security Instrument for the remaining Property. The duties and benefits of this Security 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 modification of this Security Instrument is effective unless made in writing and executed by Mortgagor and Lender. This 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. 24. 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 Security 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 oth'er 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 information Mortgagor gives Lender will be correct and complete. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, and. preserve Mortgagor's obligations under this Security Instrument and to confirm Lender's ien status on any Property. Time is of the essence. SIGNATURES. By signing, Mortgagor agrees to the terms and covenants contained in this Security Instrument. Mortgagor also acknowledges receipt of a copy of this Security Instrument. MORTGAGOR: Euger~ P Fiack ' ~'~-'~ 'S-I~rri L. Fiack LENDER: Community First Ng,,tiona~l Bank (Attest) Eugene P. Fiack Wyoming Mortgage WY!4XccarterOO600000003657014122303Y ~1996 Bankers S~.stems ,,:,:, ,;,;, , ,, lnc,, St Cloud. MN Initials~ (Individual) This instrument was acknowledged before me lhi~ ~ ]U ~-~ '~ .... husband and wife. This insuumem w~s ~cknowled~d before ~e riffs Mary Lively as Io4q ~e~ My commission expires: I~- ~ - ~o0 ~ day of .Bec-~m.G_~.- , ZOO ~ (Notary Public) OF L [hCa I~.. ss. -~-~ day of _l~c~w, of Community First National Bank. (Notary Public) by by Eugene P. Fiack Wyoming Mortgage W Y/4 X ccar t e r (~DZ~QQQ©.0:QO 3657014122303Y Inc,, St. C oud MN ~'~"~ lnitials~ -- 08,964,57 ALTA COMMITMENT - 1982 - Wy 609 SCHEDULE C Commitment NO.· FA 11208 OM The land re~rred to in this commitment is situated in'the State of WyOming, County of Lincoln, and is describe~ as follows'  he Easterly 50 feet by 85 feet of Lot 12 of Block 45 of the Second ddition to the Town of Kemmerer, Lincoln County, Wyoming, as surveyed, lattedand recorded, and more particularly described by metes ounds as follows: . and eginning at the northeasterly Corner of said Lot 12 of said Block 45 Jnd running thence in a Westerly direction along the division line of Lots 12 and 13 of said Block a distance of 85 feet; thence in a Southerly direction on a line parallel to the Easterly and [ Westerly boundary line of said lot, a distance of 50 feet; ~hence Easterly along the division line of said Lots 11 and 12, a ~ distance of 85 feet to the Easterly boundary line of said Lot 12; thence in a Northerly direction along said Easterly boundary line of Lot 12, a distance of 50 feet to the point of beginning. EXCEPTING therefrom the land contained in Warranty Deed recorded N,ovember 18, 1963 in Book 63PR On page 323 of the records of the Lincoln County Clerk. ii/Ri