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HomeMy WebLinkAbout898621 RECEIVED LINCOLN OOUNTY OLERK Space Above This Line For Recording Data MORTGAGE DATE AND PARTIES. The date of this Mortgage (Security Instrument) is December 12 2003 The parties and their addresses are: ' ' MORTGAGOR: f,jc/ A Wyoming Non profit Corporation ~,,~ FIRST BAPTIST CHURCH KEMMERER, WYOMING AND FIRST BAPTIST CHURCH OFI(EMMERER 619 Pearl St. Kemmerer, Wyoming 83101 LENDER: COMMUNITY FIRST NATIONAL BANI( Organized and existing under the laws of the United States ol 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' Parcel 1 Lots 7, 8, 9 and 10 of Block 35 of the First Addition to the Town of Kemmerer, Lincoln County, Wyoming as described on the official plat thereof, AND '/>]:: ' Parcel 2 204 ' ' Lot ,~8 of H~ven of HOpe First Addition to the Town of Afton, Lincoln County, Wyoming as described on the official plat filed August 7, 2003 as Instrurnent No. 892277 of the records of the Lincoln County Clerl% Kemmerer, Wyoming; The property is located in Lincoln 'County at 619 Pearl St., Kemmerer, Wyoming Wyoming 83'110. ' Hope Bible Church 83101 AND 700 Lincoln, Alton, Wyoming Mortgage Init*als WY/4XccwiklaOO6OOO00OO3657014121203Y ©1996 Bankers Systems. Inc., St. Cloud, MN ~_.,¢~'F~ 15;~ 'i Lender's prior written consent Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor, and of any loss o~ damage to the Property No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent except that Mortgagor has tile right to remove items of personal property comprising a par[ 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 encumlorance. Such replacemer)t of personal property will be deemed subject to the security interest created by this Security Instiument. Mortgagor will not partition or subdivide the Property without Lender's prior written consent. Lender or ender s agents may, at Lender's option, enter the Property at any reasonable time for the purpose of L inspecting the Property. Lender will give Mortgagor notice at the time of or before an inspectio~ 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. 1 1. 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 Lender 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 manneu Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the construction, 12. DEFAULT. Mortgagor will be in default if any of the following occur: A. Payments, Mortgagor fails or Guarantor 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. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this Security Instrument. D. Other Documents.. A default occurs under the terms of any other transaction document. E. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has With Lender. F. Misrepresentat.ion. 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. G. Judgment. Mortgagor fails to satisfy or appeal any iudgment against Mortgagor. H. Forfeiture. The Property is used ina manner or for a purposeti~at threatens confiscation by a legal authority. I. Name Cbange. Mortgagor changes Mortgagor's name or assumes an additional name without notifying Lender before making such a change. J. Property Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money or property. T.his condition of default, as it relates to the transfer of tile Property is subiect to the restrictions contained in the DUE ON SALE section. I(. Property Value. The value of the Property declines or is impaired. L. Insecurity. Lender reasonably believes that 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 uoder 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 rn'ay 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 p~ovided 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 lilnited warranty deed that conveys the property sold to the poichaser 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 the Property and that Lender will H-ope Bible Church Wyoming Mortgage WYl4XccwiklaO0600000003657014121203Y ©1996 Bankers Systems, Inc., St. Cloud, MN Initials Page 3 " 033 specially war[ant and defend the Property's title or the purchaser or purchasers at the sale against all lawful claims and demand of all po[sons claiming by, through or under Lender. The recitals in any deed of conveyance will be prima fable 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 sot ~olth. The aoooptanoe by Lender of any sum in payment or parlial payment on the Secured Debts after the balance is due or i8 accelerated or aftor foreclosure proceodings aro filed will not constitute a waiver o~ Lender's rioht to require full and complete cure of any existino defaull. By nol exercising any remedy, Lender does not waive Lender's right to later consider the event a default if it continues or happens ~gain. 14. COLLEOTION EXPENSES AND ATTORNEYS' FEES. On oF after Detault, to tl~e extent po[mitred by law, Mortgagor agrees to pay all expenses of collection, enforcement or protection or Lender's rights and remedies under this Security Instrument. Mortgagor agrees to pay expenses ~or Lender to inspect and preserve the Property and for any recordation costs of releasing the Property flora this Seou[iw Instrument. Expenses include, but are not limited to, attorneyst fees, court oo~ts and oth~[ legal expenses. These expenses are due and payable immediately. I[ not paid immediately, th~ exponse~ will bear interest ii-om the date of payment until paid in full at lbe highest intelest rate in effect as provided for in the terms or the Secured Debts. To the extent permitted by the United states Bankruptcy Cod~, Mort~agor aOroos to pay th~ reasonable attorneys' ~oes Lender incurs to oolleo~ the Secured Debts as awarded by any court exercising jurisdiotion under the Bankruptcy Code. 15. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANOES. As used in this section, (1) Environmental Law moans, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), all other federal, state and local laws, [eguiations, ordinances, couit orders, atto[ney geneial opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous sobstance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics whic.h 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 agrees that: A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or handled by any person on, under or about tl~e Property, except in the ordinary course of business and in strict compliance with all applicable Environmental Law. B. Except as pre. viously disclosed and acknowledged in wridng to Lender, 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 Hazardous Substance occurs on, under or about the Property or migrates or threatens to migrate from nearby property; 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. Except as previously disclosed and acknowledged in writing to Lender, 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, under or about the Property; or (2) any violation by Mo[tgagor or any tenant of any Envronmental Law. Mortgagor will 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, to participate in any such proceeding inclucling the right to receive copies of any documents relating to sucq proceedings. E. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been, are and will remain in full compliance with~any applicable Environmental Law. F. Except as previously disclosed and acknowledged in writing ~o Lender, there are no undergrounct storage tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. G. Mortgagor will regularly inspect the Property, monitor the activities and operations on ~he Property, and confirm that all permits, licenses or ·approvals 'required by any applicable Environmental Law are obtained and complied with. Hope Bible Church Wyoming Mortgage Initials WYt4XccwiklaOO60OOOOOO3657014121203Y ©1996 Bankers ~.,,,~?~** Inc., St. Cloud, MN ~ ......... 5.:i. Page 4 H. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and ~nspect the Proper'tv and review all records at any reasonable time to determine {1) the existence, location and nature of any 14azardous Substance on, under or about the Property; (21 the existence, location, nature, and magnitude of any' Hazardous Substance that has been released on, under or about the PIoperty; or (3) whether or not Mortgagor and any' tenant are in compliance with applicable Environmental Law; I. Upon Lender's request and at ally time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified environmental engineer to prepale an environmental audit ol~ the Property and to submit the results of such audit to I_ender. 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's 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, Mortgagor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all losses, claims, decnands, 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 (21 at Lender's discretion, Lender may release this Security Instrument and in return Mortgagor will prov ce Lender with collateral of at least equal value to the Property secured by this Security Instrument without prejudice to any of Lender's rights under this Security Instrument. L. Notwithstanding any of the language dontained in this Security Instrument to the contrary, the terms of 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 of the Property. Any claims and defenses to the contrary are hereby waived. 16. 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 Propeity through condemnation, eminent domahq, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of tile Property. Such proceeds will be considered payments and will be applied as plovided 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. 17. INSURANCE. Mortgagor agrees to keep the Property insured against the risks reasonably associated with the Property. Mortgagor will maintain this insurance in tile 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, subject 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 general liability insurance must name Lender as an additional insured. The rental loss ol business interruption insurance must be in an amount equal to at least coverage of one year's debt service, and required esclow account deposits lif agreed to separately in writing.) Moltgagor 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. If Lender acquires the Property in damaged condition, Mortgagor's rights to any insurance policies and 3roceeds will pass to Lender to the extent of the Secured Debts. Mortgagor will immediately notify Lender of cancellation or termination of insurance If Mortgagor fails to keep the Property insk~red 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 highel rate than Mortgagor could obtain if Mortgagor purchased the insurance. 18. ESCROW FOR TAXES AND INSURANCE. Mortgagor will not be required to pay to Lender' funds for taxes and insurance in escrow. 19. CO-SIGNERS. If Mortgagor signs this Security 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 liable on.the Secured Debts. If this Security Instrument secures a Hope Bible Church Wyoming IVlor tgage Initials wY/4XccwiMaO06000000036570i 412 t 203Y © 1996 Bankers Systems, Inc., St. Cloud. MN ,t~'p--'-~'P~." ~g~' ~ guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may p[Je~ei~t 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. 20. WAIVERS. Except to the extent prohibited by taw, Mortgagor waives all homestead exemption rights relating to the Property. 21. 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. 22. APPLICABLE LAW. This Security Instrument 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. 23. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgagor's obligations unde~ 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 algol assigns of Lencler and Mortgagor. 24. 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 exl)ression 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. 25. INTERPRETATION.' Whenever used, the singular includes the plural and the plulal includes the singular. The section headings are for convenience only and are no~ to be used to interpret or define the ~erms of this Security Instrument. 26. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any notice will be givsn 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. Noticeto 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 otlmr 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 Se'curity Instrument and [o confirm Lender's lien 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: First BaDUst Church J.(emmerer, Wyoming ~ Lester Fatheree, Pa,stor / Mark Clark, Trustee LENDER: Community First Na/~ional Bank (Attest) Hope Bible Church Wyorr~ing Mortgage WY/4XccwiklaOO6ooooooo3657014121203Y ©1996 Bankers Systems, Inc., St. Cloud, MN ~-'~'r~ Initials Page 6 ACI~(NOWLEDGMENT. (Business or Entity) sion expires: ~-~ This instrument was aJkn~)wledg~.~l before"me this['1 Mary Lively as kocv'P,' My commissior~)~'xpires: ~ (Notarl,)Public) OF L U'f\~&-~ ss. of Cornmunity First National Bank. (Notary F~_ blic) by by State.of Wyoming County of Lincoln The foregoing instrument was acknowledged before me ~his ~JJ~ day'of ~rch , 2004 by Lester Fath ' ~ ~ s Baptist Church, Wy'0ming and First Baptist. Church of Kemmerer. ~ ~C~. ~k,)~ otary ~ublic My Commissio ....... . State of Wyoming County of Lincoln? T~]~7~8~J~g,instrument was acknowldged before me this ~1M day of ~trch , 2004 y ~h~arx ~as Tru~ of Kemmerer, Wyoming and First Baptist Church of Kemmerer. ~~'~ -~;~~~ ' My Commission Ext-~~7~'/~/.'~i.~'~'~ 13 Flope Bible Churcb Wyoming Mortgage Initials WY/4XccwiklaO0600000003657014121203Y ©1996 Bankers Systems, Inc., St. Cloud, MN ~ Page 7 State of Wyoming County of Lincoln The foregoing instrument was acknowledged before me by Mary Lively as Loan Officer of Community First National Bank this,_~/¢day of March, 2004. Witness my hand and official seal. My Commission Expires: /(-I¢-D-~ Notary Public NOTE: This serves:to, correct that certain mortgage recorded December 15, 2003 in Book 544PR on page 30 of the records of the Lincoln County Clerk to correct the legal descriPtion.