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HomeMy WebLinkAbout900756900756 RECEIVED LINOOLN CO.JNTY OLERK [tI,~ ,Ifil -'5 /~'.i'; II: 35 SPace Above This Line For Recording Data MORTGAGE (With Future Advance Clause) DATE AND PARTIES. The date of t!'~is Mortgage (Security Instrument) is June 16, 2004. The parties and their addresses are: MORTGAGOR: GARY C JENKINS A sole proprietorship PO BOX 18 SMOOT, Wyoming 83126 ROXANNE JENKINS P O BOX 18 SMOOT, Wyoming 83126 LENDER: FIRST NATIONAL BANK - WEST Organized and existing under the laws of the United States of America 314 S Washington PO Box 1620 Alton, 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 PO BOX 18, SMOOT, Wyoming 83126. 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 950,076.00. This lira',ration 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 In:;trument will secure the following Secured Debts: A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and replacements. A promissory note er other agreement, No. 64003134, dated June 16, 2004, from Morlgagor to Lender, with a maximum credit lim~! of $50,076.00, with an interest rate of 4.9 percent per year and maturing on July 5, 2007. One or more df the debts secured by this Security Instrument contains a future advance provision. B. All Debts. All present and futL:re 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 ~ny required notice of the right of rescission, Lender waives any subsequent GARYC JENKINS . ~,~ ~,~ Wyoming Mortgage " In~t WY/4stafanieOO725200004363014061604Y ©199§ Bankers Systems, Inc., St. Cloud, MN F_xl~--~~ O9OO?St 78 9 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 created in "household goods" in ~0nnection with a."consumer loan," as those terms are defined by federal law governing Unfair and deceptive credit practices. This Security Instrument will not secure any debt for which a security interest is created in "mar.gin stock" and Lender does not obtain a "statement of purpose," as defined and required by federal law 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 Se:cured Debts and this Security Instrument. 5. PRIOR SECURITY INTERESTS. Wi:th regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior sect:~rity, interest or encumbrance on the Property, Mortgagor agrees: A. To make all payments when duei 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 cl,arges, relating to the Property when due. Lender may require Mortgagor to provide to Lender copies of all nc'rices that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend titl~ 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 iwho supply labor or materials to maintain or improve the Property. 7. DUE ON SALE. Lender may, at]ts 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. 8. WARRANTIES AND REPRESEHTATIONS. Mortgagor makes to Lender thb following warranties and representations which will continue as'long as this Security Instrument is in effect: A. Power. Mortgagor is duly o¢~janized, 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 gl;orates. Fl. Authority. The execution, del',very 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 Flusiness. 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 occt~pancy 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 removed, 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 otl~er encumbrance. Such replacement o'. 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 agen'ts 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 inspecti:)n. 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 Mor. tgagor 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 M~)rtgagor'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 Lenddr's other rights under the law or this Security Instrument. If any construction on the Property is discOntinued or r, ot 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 A~'.!D RENTS. Mortgagor assigns, grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in the following (Property).' GARY C JENKINS ........., , j Inltla~J~ Wyoming Mortg~ll~ WYt4stelanieO0725200004363014061604Y ©1996 Bani(era Systems, Inc,, St. Cloud, MN ~" A. E~isting or future leases, sub!.ea~es, licenses, guaranties and any other written or verbal agreements for tho use and occupancy of the Prop.~rt;y, including but not limited to any extensions, renewals; modifications or replacements (Leases). i B. Rents, issues and profits, incJuding 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 Moi;'tgagor 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 for 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 ahd 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. Mortg~gor will not collect in advance any Rents due in future lease periods, unless Mortgagor first obtains Lender's writ':en 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 'of Rents from the Property lo Lender. Amounts collected will be applied at Lender's discretion to the Secured £;el~ts, the costs of managing, protecting and preserving the Property, and other necessary expenses. Mortgagor ag,'ees that this Security Instrument is immediately effective between Mortgagor and Lender. This Security Instrur.~eilt 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 !~rc~.perty without the necessity of commencing any legal action or proceeding. Mortgagor agrees that actual posse,ssion of the Property is deemed to occur when Lender notifies Mortgagor of Mortgager's default and demands that Mortgagor and Mortgager'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 Assignmer.t is in effect, Mortgagor warrants and represents that no default exists under the Leases, and the parties subject: 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 comply: with the Leases and any applicable law. If Mortgagor or any party to the Lease defaults or fails to observe ar.y applicable law, Mortgagor will promptly notify Lender. If Mortgagor neglects or refuses to enforce compliance Yvith tim 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 coverec', by the Leases (unless the Leases so require) 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 ~;ssume or become liable for the Property's maintenance, depreciation, or other losses or damages when Lender ac1s 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 dar~a.ge that Lender may incur when Lender opts to exercise any of its remedies against any party obligated under tha 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 or Bankruptcy. AnY~ legal entity obligated on the Secured Debts makes an assignment for the benefit of creditors or become inso;vent, either because its liabilities exceed its assets or it is unable to pay its debts as they become due; or it petitions for protection under federal, state or local bankruptcy,, insolvency or debtor relief laws, or is the subject of a petition or action under such laws and fails to have the petition or action dismissed within a reasonable period of time not to exceed 60 days. C. Death or Incompetency. Mortga:~or dies or is declared legally incompetent. D. Business Termination. Mortgagor merges, dissolves, reorganizes, ends its business or existence, or a partner or majority owner dies o~ is declared 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 eccurs Under the te~ms of any other transaction document. G. Other Agreements. Mortgaget is in default on any other debt or agreemenz Mortgagor has with Lender. H. Misrepresentation. Mortgagor ~.~akes 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 :';atisfy or appeal any judgment against Mortgagor. J. Forfeiture. The Property is use!d in a manner or for a purpose that threatens confiscation by a legal authority. K. Name Change. Mortgagor changes Mortgager's name or assumes an additional name without notifying Lender before making such a cha~ge. L. Pr°perty Transfer. Mortgag°i: transfers all or a substantial part of Mortgager'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 the Property declines or is impaired. N. Material Change. Without first notifying Lender, there is a material change in Mortgager's business, including ownership, management, and financial conditions. O. Insecurity. Lender r.easonab y beheves that Lender is insecure. 13. REMEDIES. Lender may use ar.~y land all remedies Lender has under state or federal law or in any instrument evidencing or pertaining to the Secsred .~, GARY C JENKINS Wyoming Mortgage WY/4sla[anioO0725200004363014061604Y Debts, including, without limitation, the power to sell the Property. A Inlt~ ©1996 Bankers Systems, Inc., St. Cloud, MN ~x'J~---------~" . amounts' advanced on Mortgager's behalf will be immediately due and may bo 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 Mortgager'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 parchasers. Under this special or limited warranty deed, Lender will covenant that Lender has not caused or allo'Xted a lien or an encumbrance to burden the Property and that Lender will specially warrant and defend the Prcperty'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 remedies are distinct, cumulative ~,nd not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly se~',forth. The acceptance by Lender of any sum in payment or partial payment on the Secured Debts after the baler;Ce is due or is accelerated or after foreclosure proceedings are filed will not 'constitute a waiver of Lender's righ'~.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. Mor!gagor agrees to pay expenses for Lender to inspect and preserve the Property and for any recordation costs of rel~iasing 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 immediatel'}q these expenses will' bear interest from the date of payment until paid in full at the highest interest rate in effect a.S provided for in the terms of the Secured Debts. To the extent permitted by the United States Bankruptcy Cod~,,. 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 i-IAZARDOUS 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'flederal, 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 Subst. gnce means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristib, s 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 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 r~'6tify Lender if (1) a release or threatened release of Hazardous Substance occurs on, under or about the Prop, erty or migrates or threatens to migrate from nearby property; or (2) there is a violation of any Environmente!~ Law concerning the Property. In such an event, Mortgagor will take all necessary remedial action in acco;:dance 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 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 a~? such pending or threatened investigation, claim, or proceeding. In such an event, Lender has the right, but ,i0t the obligation, to participate in any such proceeding including the right to receive copies of any documents ~elating to such proceedings. E. Except as previously disclosed land 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 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 consenf.~;in writing. G. Mortgagor will regularly insp.:.'Ct 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 catse 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, 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 ccimpliance 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 subject to Lender's approval. Wyoming Mortgage :~ Initia WYI4s[efanieOO72fi200004363014061§O4Y 01996 Bankers Systems, Inc., St. Cloud, MN 7 d. Leander has the right, but not :he obligation, to perform any of Mortgager's obligations under this section et Mortfla§or's expense. K. As e consequence of any breach of any representation, warranty or promise made in this section, Mortgagor will indemnify and h01d 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 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 provide Lender with collateral of at least equal value to the Property secured by this Security Instrument without prejudice to vn,¥ of Lender's rights under this Security Instrument. L. Notwithstanding any of the }a'qguage contained in this Security Instrument to the contrary, the terms of this section will survive any foreclosl~r~b or satisfaction of this Security Instrument regardless of any passage of title to Lender or any disposition by kender of any or all of the Property. Any claims and defenses to tile contrary are hereby waived. : 16. CONDEMNATION. Mortgagor wi~ll give Lender prompt notice of any pending or threatened action by private or public entities to purchase or take ~n¥ or all of the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lend'er 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 all.0r 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, securjiy agreement or other lien document. 17. INSURANCE. Mortgagor agree~.~ ,to keep the Property insured against the risks reasonably associated with tile Property. Mortgagor will maintain this insurance in the amounts Lender requires. This insurance will last until the Property is released from this Secur!ty Instrument. What Lender requires pursuant to the preceding two 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 L~nreasonably withheld. All insurance poliCies and renewals w.. ill include a standard "mortgage clause" and, where applicable, "loss payee clause." If required by Lender, Mo(tgagor 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 nar'nb Lender as an additional insured. The rental loss or business interruption 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. If Lender acquires 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 required of Mortgagor, may be written by a company other than one Mortgagor would choose, and may be writte3 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 sighs this Security Instrument but does not sign the Secured Debts, Mortgagor does so only to mortgage Mortgag6r's interest in the Property to secure payment of the Secured Debts and Mortgagor does not agree to be p,,~r, sonally liable on the Secured Debts. If this Security Instrument secures a guaranty between Lender and MorS§agor, 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 anli-def ciency or one-action laWs. 20. WAIVERS. Except to the extep't prohibited by law, Mortgagor waives all homestead exemption rights relating to the Property. . · · 21. OTHER TERMS. The following are applicable to this Security Instrument: A. Line of Credit. The Secured Debts include a revolving line of credit provision. Although the Secured Debts may be reduced to a zero balance~ this Security Instrument will remain in effect until the Secured Debts and all underlying agreements have beer ierminated in writing by Lender. 22. APPLICABLE LAW. This SecL;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. 23. JOINT AND INDIVIDUAL LIA~:LITY AND SUCCESSORS. Each Mortgager'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. 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 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. 25. 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 Secu ity ~. Instrument. GARY C JENKINS ~ tLz~-~,~_~._~ Wyoming Mo,tga ga laitial~"J~~ WYI4stefanieOO7252000043§3014061604Y ©1996 Bankers Syslems, Inc., St. Cloud, MN ~" 26. NOTICE, FINANCIAL REPORTS.AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any notice will be given by delivering it d)r mailing it by first class mail to the appropriate party's address listed in the DATE AND PARTIES section, orto a3'y 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. Mor, tgagor 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. 'Time is of the essence. SIGNATURES. By signing, Mortgago~ agrees to the terms and covenants contained in this Security Instrument. Mortgagor also acknowledges receipt of a copy of this Security Instrument. Individually ~/ '. LENDER: First National Bank - West : By ~ ~ Officer Don Staley, on Loan ACKNOWLEDGMENT. This instrument was'~c'ki~owledged b~,fore me t~ls GARYC JENKINS,andROXANNE JENKINS. by My commission expi;:e~s'~, (Lender Acknowledgment), This instrument was acka/~wledged ~efore ~ tJ~s / ~ day of ~ Don Staley as Alton Loan Officer of First~/~tional Bank - West. ~" My commission expire.~,/~ ~2o<0.~' ,/ ~~ ~~' ' (N~t~r~ ~blic) GARY C JENKINS Wyoming Morlgage WY/4stefanieO0725200004363014061604Y ©1996 Bankers Systems, Inc., SI. Cloud, MN ~" SCHEDULE C The land referred to in this guarantee is situated in the State of Wyoming, County of Lincoln, and is described as follows: Part of Secuion S, T30N RllSW, of the 6th P.M., Lincoln County, Wyoming being more particularly described as follows: Beginning at a point on the east-wes~ property line approximatell~ 2 rods South of the North Quarter Corner of Section 5 and runnin9 thence from Point (1) N 90°0, W ~330 feet to point. (2)~ , thence S 0o0' .E, 785 feet to point (3); thence N 67oC, E, 1025 feet to point (4); thence N 26045' W, 307 feet to pein[ (5); thence N 45035, W, 181 fee[ to point (6); thence N90o0, W, 339 feet back to point (1) being a five- sided tract. , ALSO Beginning at the North Quarter Corner of said Section 5 and running thence N 9000' W, 330 feet; thence S 000· E, 33 feet; thence S 90o0,, E, 669 feet; thence N 0o0, W, 33 f~et; thence N 9000' W, 339 feet to the point of beginning. LESS AND EXCEPT the land contained the Quit Claim Deed recorded May 4, 1993 in Book 328PR on page 271 of the records of the Lincoln County Clerk. LESS AND EXCEPT the land contained ~n Quit Claim Deed recorded December 8, 1919 in Book 281PR on page 86 of the records o~ the Lincoln COunty Clerk.