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HomeMy WebLinkAbout8995558995S$ RECEIVE'D LINCOLN COUNTY CLERK Oh ~,tF~Y 2 l; Pit 3:3 S Space Above This Line For Recording Data MORTGAGE DATE AND PARTIES. The date of this Mortgage (Security Instrument) is May 20, 2004. The parties and their addresses are: MORTGAGOR: BART F. MERRITT A sole proprietorship P O BOX 440 THAYNE, Wyoming 83127 DEANNA M. MERRITT P O BOX 440 THAYNE, Wyoming 83127 LENDER: FIRST NATIONAL BANK - WEST Organized and existing under the laws of the United States of America 314 S Washington PO Box 1620 Afton, Wyoming 83110 TIN: 83-0162601 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: SEE ATTACHED SCHEDULE "C" The property is located in LINCOLN County at 1701 THAYNE-BEDFORD ROAD, THAYNE, Wyoming 83127. Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all diversion payments or 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 $268,650.00. 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 security 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 or other agreement, No. 64003120, dated May 20, 2004, from Mortgagor to Lender, with a loan amount of $268,650.00, with an interest rate based on the then current index value as the promissory note prescribes and maturing on June 5, 2019. B. All Debts. All present and future debts from Mortgagor to Lender, even if this Security Instrument is not specifically referenced, or if the future debt 'is unrelated to or of a different type than this debt. If more than one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a commitment to make additional'or future loans or advances. Any such commitment must be in writing. In the event that Lender fails to provide any required notice of the right of rescission, Lender waives any subsequent security interest in the Mortgagor's principal dwelling that is created by this Security Instrument. This Security Instrument will not secure any debt for which a non-possessory, non-purchase money security interest is BART F. MERRITT Wyoming Mortgage Initial .s.{~?\ WY/4brandiemOO725200OO4363014052004Y ©1996 Bankers Systems, Inc., St. Cloud, MN E~--------~" P~ge 1' ~ created in "household goods" in connection with a "consumer ~oan," es those terms are defined by federal law governing unfair and deceptive credit practices. This Security Instrument wi~ not secure any debt for which a security interest {s created in "marg]n stock" and Lender does not obtain a "statement of purpose," as defined and required by federal ~aw governing securities. C. 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 dL~e 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 Mortgagor'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. Lender 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 all or any part 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. ';i 8. WARRANTIES AND REPRESENTATIONS. Mortgagor makes to Lender the following warranties and representations which will continue as long as this Security Instrument is in effect: A. poWer. Mortgagor is duly organized, and validlY existing and in good standing in' all jurisdictions in which Mortgagor operates. Mortgagori!has the power and authority to enter into this transaction and to carry on Mortgagor's business or activity as it is now being conducted and, as applicable, is qualified to do so in each jurisdiction in which Mortgagor operates. B. Authority. The execution, deliVery and performance of this Security Instrument and the obligation evidenced by this Security Instrument are 'within Mortgagor's powers, have been duly authorized, have received all necessary governmental approval, will not violate any provision of law, or order of court or governmental agency, and will not violate any agreement to which Mortgagor is a party or to which Mortgagor is or any of Mortgagor's property is subject C. Name and Place of Business. Other than previously disclosed in writing to Lender, Mortgagor has not changed Mortgagor's name Or principal place of business within the last 10 years and has not used any other trade or fictitious name. Without Lender's prior written consent, Mortgagor does not and will not use any other name and will preserve Mortgagor.'s eXisting name, trade names and franchises. 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.: No portion of the Property will be rern°ved, demolished or materially altered without Lender's prior written consent 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 retention device, security agreement or other encumbrance. Such replacement ofI 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 Wi!l give Mortgagor notice at the time of o~ before an inspection specifying a reasonable purpose for the inspecticm. 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 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 manner, Lender may take all steps 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 warrants to Lender as additional security all the right, title and interest in the following (Property). A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications or replacements (Leases). Wyoming Mortgage ,, tnitiaJs~-~)~ J~ BART F. MERRITT WY/4brandiemO0725200004363014052004Y ©1996 Bankers Systems, Inc,, St. Cloud, MN ~ Page 2 B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents, additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts; contract rights, general intangibles, and all rights and claims 'which Mortgagor may have that in any way pertain to or are on account of the use or occupancy of the whole or any part of the Property (Rents). ' In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be regarded as a security agreement. 'Mortgagor will promptly provide Lender with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be provided on execution of the Assignment, and all future Leases and any other information with respect to these Leases will be provided immediately after they are executed. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default. Mortgagor will not collect in advance any Rents due in future lease periods, unless Mortgagor first obtains Lender's w!-itten consent. Upon default, Mortgagor will receive any Rents in trust for Lender and Mortgagor will not commingle the Rents with any other funds. When Lender so directs, Mortgagor will endorse and deliver any payments ,)f Rents from the Property to Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and other necessary expenses. Mortgagor agr.ees that this Security Instrument is immediately effective between Mortgagor and Lender. This Security Instrument will remain effective during any statutory redemption period until the Secured Debts are satisfied. Unless otherwise prohibited or prescribed by state law, Mortgagor agrees that Lender may take actual possession of the Property without the necessity of commencing any legal action or proceeding. Mortgagor agrees that actual possession of the Property is deemed to occur when Lender notifies Mortgagor of Mortgagor's default and demands tSat Mortgagor and Mortgagor's tenants pay all Rents due or to become due directly to Lender. Immediately after Lender gives Mortgagor the notice of default, Mortgagor agrees that either Lender or Mortgagor may immediately notify the tenants and demand that all future Rents be paid directly to Lender. As long as this Assignment is in effect, Mortgagor warrants and represents that no default exists under the Leases, and the parties subjectI to the Leases have not violated any applicable law on leases, licenses and landlords and tenants. Mortgagor, at its sole cost and expense, will keep, observe and perform, and require all other parties to the Leases to com~!y with the Leases and any applicable law. If Mortgagor or any party to the Lease defaults or fails to observe any applicable law, Mortgagor will promptly notify Lender. If Mortgagor neglects or refuses to enforce compliance w;dth the terms of the Leases, then Lender may, at Lender's option, enforce compliance. Mortgagor will not sublet, modify, extend, cancel, or otherwise alter the Leases, or accept the surrender of the Property covered, by the Leases (unless the Leases so ~equire) without Lender's 'consent. Mortgagor will not assign, compromise, subordinate or encumber the Leases and Rents without Lender's prior written consent. Lender does not assume or become liable for the Property's maintenance, depreciation, or other losses or damages When Lender act:~ to manage, protect or preserve the Property, except for losses and damages due to Lender's gross negligence or intentional torts. Otherwise, Mortgagor will indemnify Lender and hold Lender harmless for all liability, loss or damage that Lender may incur when Lender opts to exercise any of its remedies against any party obligated under the Leases. 12. 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 ass gnment 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. Mortgagor dies or is declared legally incompetent. D. Business Termination. Mortga,gor merges, dissolves, reorganizes, ends its business or existence, or a partner or majority owner dies or is declaCed legally incompetent. E. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this Security Instrument. F. Other Documents. A default occurs under the terms of any other transaction document. G. Other Agreements. Mortgagor:is in default on any other debt or agreement Mortgagor has with Lender. H. 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. I. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor. J. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority.' K. Name Change. Mortgagor changes Mortgagor's name or assumes an additional name without notifying Lender before making such a change. L. 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. M. Property Value. The value of -:he Property declines or is impaired. N. Material Change. Without first notifying Lender, there 'is a material change in Mortgagor's business, including ownership, managemenT, and financial conditions. O. 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 SecL'red 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 BART F. MERRITT Wyoming Mortgage WY/4brandiemOO7252OO004363014052004Y ©1996 Bankers Systems, Inc., St. Cloud, MN Initial~(~ Pa~e 3 ~ 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 or an encumbrance to burden :the Property and that Lender will spec!ally warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims and demand of all persons claiming by, through or under Lender. The recitals in any deed of conveyance will be prima facie evidence of the facts set .forth therein. All r. emedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly setiforth. The acceptance by Lender of any sum in payment or partial payment on the Secured Debts after the balar~ce 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. 14. 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 rele,asing the Property from this Security Instrument. Expenses include, but are not limited to, attorneys' fees, cou't costs and other legal expenses. 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. 15. 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, 42 U.S.C. 9601 et seq.), all other f:'ederal, 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 environm, ent. The term includes, without limitation, any substances defined as "hazardous material," "toxic substarice," "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 the Property, except in the ordinary course of business and in strict compliance with all applicable Environmental Law. B. Except as previously disclosed and acknowledged in writing 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 disCl°sedland 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 Ioca:ted on, under or about the Property; or (2) any violation by Mortgagor or any tenant of any Environmental 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 including the right to receive copies of any documents relating to such proceedings. F. Except as previously disclosed and acknowledged in writing t© Lender, Mortgagor and every tenant have been, are and will remain in full compliance with any applicable Environmental Law. Fi Except as Previously disclosed~and acknowledged in writing to Lender, there are no underground 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 the Property, and confirm that all permits, licenses or approvals required by any applicable Environmental 'Law are obtained and complied with. H. Mortgagor will permit, 'or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all records at. any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, und(~r 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 arid at any time, Mortgagor agrees, at Mortgagor'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 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, (1) Mortgagor will indemnify and hold Lender and Lender's successors' or assigns harmless from and against all BART F. MERRITT Wyoming Mortgage WY/4brandiernO07252000043630140§2004Y ©1996 Bankers Systems, Inc., St. Cloud, MN E.x'j~~ _ 7,: .':::?::, Initials {~ Page 4 ..... ,, ':',,';.;'! losses, claims, demands, liabilities, damages, cleanup, response and remediat on costs, penalties and expenses, including without limitation all cc?sts of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and 121 at Lender's discretion, Lender may release this Security Instrument and in return Mortgagor will provide Lender w~ith collateral of at least equal value to the Property secured by this Security Instrument without prejudice to a~y of Lender's rights under this Security Instrument. L. Notwithstandir~g any of the language contained 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 /'i. ender 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 er]titles to purchase or take a.3y or all of the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgager'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 alllor any part of the Property. Such proceeds will 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. 17. INSURANCE. Mortgagor agree~, to keep'the Property insured against the risks reasonably associated with the Property. Mortgagor will maintain ti~Js insurance in the amounts Lender requires. This insurance will last until the Property is released from this Securi,ty Instrument. What Lender requires pursuant to the preceding two sentences can change during the term of the;iSecured Debts. Mortgagor may choose the insurance company, subject to Lender's approval, which will not be~unreasonab y withheld. All insurance policies and renewals Will include a standard "mortgage clause" and, where applicable, "loss payee clause." If required by Lender, Motitgagor 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 or business interruption insurance must be in an amount equ~l 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 ot the Property or to the Secured Debts, at Lender's option. If Lender acqu res the Property in damaged condition, Mortgager'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 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 reqi~ired 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. 18. ESCROW FOR TAXES AND INSURANCE. As provided in a separate agreement, Mortgagor agrees 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 Mortga.c~or'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 guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim again[,t Mortgagor or any party indebted under the obligation. These rights may include, but are not limited to, any apti-deficiency or one-action laws. 20. WAIVERS. Except to the exten~ prohibited by law, Mortgagor waives all homestead exemption rights relating to the Property. 21. APPLICABLE LAW. This Secu'rity 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. 22. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgager's obligations under this Security Instrument are independent of the ol~ligations 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 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 Mortgager'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, ~nd file any additional documents or certifications that Lender may consider necessary to perfect, cOntinue, and preserve Mortgager's obligations under thiS SeCurity Instrument and to confirm Lender's lien status on any Property.i Time is of the essence. BART F. MERRITT Wyoming Mortgage. WY/4brandiemO0725200004363014052004Y ©1996 Bankers Systems, Inc., St. Cloud, MN :~__,x'j~~ Initials ~ Page 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. MO RT_G, AGOR: BARt F. MERRITT Indivj.c)ually Individually LENDER: First Na.tio,~ Ban~/.e~~ Roge'r (~o,o~, ~/]~t/on Branch Vice President ACKNOWLEDGMENT. (Individual) lhis instrument was acknowledged before me this ~ ~ dag of SS. (Notary Public) , .~-- ¢ o.y by '(Lender Acknowledgment) ' This instrument was acl(nowledged bt. fore me this ,,~/~'- day of Roger Coles as Alton Branch Vice President of First National Bank - West. My commission expires:/~c,-,-~' ,/, Z-Oc?~ (Notary Public) by BART F. MERRITT Wyoming Mortgage WY/4brandiemO07252OOOO4363014052004Y ©1996 Bankers Systems, Inc., St. Cloud, MN ~__,-<~--'~" ,: !;',.:,;,',.:,,.,.,. Initials~/J/~, Page SCIIEDULE C Ail of the NE~ANW~ of Section 19, T34N Rll8W of the 6th P.M., LinColn County, Wyoming being part of that tract of record in the Office of the Clerk of Lincoln County, in Book 104PR on page 306 of Lincoln Count pnblic records. ALSO All of GLO Lot 1 o~~ Section 19, T34N Rll8W of the 6th P.M., Lincoln County, Wyoming being part of that tract of record in the Office of the Clerk of Lincoln County, in Book 104PR on page 306, EXCEPT the lands described in Warranty Deed recorded May 23, 1990 in Book 286PR on page 166; and in Warranty Deed recorded June 5, 1997 in Book 397PR on page 886 being more correctly defined as follows: That part of GLO Lot 1 of Section 19, T34N Rll$W, Lincoln County, Wyoming, it being the intent to more correctly described that tract of record in the Office of the Clerk of Lincoln County in Book 397PR on page 886, as follows: Beginning at the northwest corner~'0f said Section 19; thence South 552 feet, along the west line of said Section 19, to a position; thence East 239 feet, parallel with the north line of said GLO Lo 1, to a position; thence North 552 feet, parallel with said west line, to a position on the said north line; thence W.est 239 feet, along said north line, to the corner of beginning. ALSO That part of the S~NW~ of Section 19, T34N Rll8W of the 6th P.M., Lincoln County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 104PR on page 306, described as follows: BEGINNING at a PK nail on the south line of the said S~NW~, N 89041.0' E, 362.31 feet from the west one-quarter corner of said Section 19 found as described in the Certified Land Corner Recordation Certificate filed in the said Office; thence N 00°00.0' E, .1044.07 feet, parallel to the west line of the said S~NW~, to a point; thence N 89o41.0, E/ 1674.93 feet, parallel to the south line of' said S~NW~, to a point; thence'S 00o39.8' W, 860.81 feet to a steel stake, identical with the northeast corner of the G. Alan Merritt tract; thence continuing S 00o39.8, W, 168.32 feet to a steel stake, in an existing north right-of-way fence for the Thayne-Bedford County Road No. 12-122; thence continuing S 00o39.8' W, 15.07 feet to a 3/8" x 12" steel spike on the south line of the said S~NW~; thence S 89°41.0' W, 1662.84 feet, along the said south line to the POINT OF BEGINNING. LESS AND EXCEPT the ]and contained in Warranty Deed recorded August 17, 1988 in Book 264PR on page 434 of the records of the Lincoln County Clerk. LESS AND EXCEPT that part of the S~NW~ of Section 19, T34N Rll8W of the 6th P.M., Lincoln County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Book 258PR on page 130 described as follows: Beginning at a PK nail on the south line of that sa'id S~NW~, N 89°41.0' E, 551.28 feet from the west one-quarter corner of said Section 19 found as described in the Certified Land Corner Recordation certificate filed in the said Office; thence N 00°00' E, 183.39 feet, parallel to the west line of said S~NW~, to a point; thence N 89041.0' E, 567.96 feet, parallel to the south line of the said S~NW~, to a point; thence ~S 00°00' W, lg3.39 feet to a point on the south line of the said S~NW~; thence S 89°41.0' W, 567.96 feet, along the said south line to the point of beginning.