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HomeMy WebLinkAbout9009039 0 0 '9 0 3 Iq State of Wyoming Space Above This Liue For Recording Data MORTGAGE (With Furore Advance Clause) ][)ATE AND PARTIES. The date of this Mortgage (Security Instrument) is p.6.-.2.a.-?:qo..4 .................................... and the parties, their addresses and tax identification nulnbers, if required, are as fullows: MORTGAGOR: DEL Land SHIRLEY G BEES FAMILY IRUSI PO BOX 4146 BEDFORD, WY 83112 DATED JANUARY 30, 1996 DEL L. AND SHIRLEY.G. REES, Trustees ¸2. , [] If checked, refer to the attached Addendum incorporated acknowledgments. herein, for additional Mortgagors, their signatures and LENDER: IHE BANK OF STAR VALLEY THAYNE BRANCH Organized and existing under Ihe laws of Ihe state o! Wyoming P.O. BOX 928 113 PETERSEN PARKWAY THAYNE, WY 83127 83-0315143 CONVEYANCE. }:or good and vah3able consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt' (defiued below) ant Mortgagor's performance under this Secnrity Instrument, Mortgagor grants, bargains, couveys, mortgages and warrants to Lender, with power of sale, the following described property: Lot 9, Btid§or Forest Ranch SubdMsion, amended, according to the ollicial plat thereol on file ia the OHice o[ the Lincoln CouBly Recorder, Kemmeter, Wyoming. The property is located in .............. : .................................. ' ....................... at .23.~..S.T..~.A..W.~.[..~.~y..C.~.[.[.K..[N .................... i (County) .............................................. ( ....................................... B. -[ 0.~9. 6.1]. ......... : ............ Wyoming ......... 1~3.!J~ ........ (Address) (City) (ZIP Code) Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and all existiug and fim~re improvements, structnres, fixtures, and replacements that may now, or at ally time in the future, be part of the real estate described above (all referred to as "Prop,::rty"). MAXINIUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall not exceed $ 130.1~B..13..3..S .......................................... This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security lustrument. Also, this limitation does not apply to advances made under the terms of this Security Instrument to protect Lender's security and to perlbrm any of'.the covenants contained iu this Security Instrument. SECURED DEBT AND FUTURE ADVANCES. The term "Secnred Debt" is defined as follows: A. Debt incnrred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions. (Bqten referencing the debts below it is suggested that yeti include items such as borrowers' nantes, llOle alllOltlltS, inlet'esl rates, malto'ity dales, etc.) ONE PROMISSORY NOTE DATED 6128104 IN Tiff AMOUNT OF $130;888.35 WYOMING - MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USE} ©1994 Bankers Syslems, Inc., St. Cloud, MN I 1-8OO-397 234 I) Form RE-MTG-WY I 1/1B/94 (page 1 of 4} 5:. B. All future advances from Lender Io .Morlgagor or other filll l'e o',ligalious of Morlg ugor lo I emtcr under any promissury note, c. onu'acL guaranty or oihcr evidence of debt e~eculed by Mortgagor in thv,r of Lender executed after this SCClll'i v b~strumen~ whelher or n,~l ihis Sccurily lnsmmmnt is specifically relbrenccd..if more Ihan one person s gas this Sec 'i lnsmmwnt, each Mortgagor ago'ecs lhal this Sccurily Ins~rumcnl will sec'me all tiff'ute advances and fulure thai are given m or illcIIrred b$' ally olle of lilt)re Morlgag,~r, ,,r any one or more Morlgago~ and ud'~ers, All"lulurc advances aRd ~ ltler fi~ture .bligalions arc secured by ihis Sccmitv h~strumcnt cvcn d~()ugh all or pari may not 7c~ bc advanced. All fim~re advances ami olhcr ihmrc obligalions ;uc xcct[rcd as if made o~1 the date of Ibis Securilv Inslrumcnl. ~Nothing in Ibis Security Insmmaent shall constiltue a:commim~em to make addilional or Dmrc b)ans m' ad~allccs ilt ally amount. Any such commitment imtst bc a~ 'ccc i:o hi a separalc xvriling. C. All obligalions Mortgagor owes lo Lender, which may later arise, u') thc ex cat nol prohibited by law, including, hm limiled io, liabilities lbr overdrafts rclaling to any dept~sil accoBil{ agrccH~c~l I)cl~t C'cl~ Morlgagor and Lender. I), All additional SlltllS advanced and expenses incurred by Lender liar insuring, prcscrvi,g or ,:~thcrv,:ise pr~,lccling die Properly alld ils vahJe a~cl any 'other $11111s atlva~ccd and expense's incurred by Lender under thc lcrrns )f dfis Security ] IIsIruIBClII. Th s Sect'mts lnslrumenl will not secure any other debt if 1..ender fails h) give any require J notice of file riglit of rescission. PAYMENTS. M .ul'gagor agrees Ihat all payments under file Seemed Debt will bc paid when duc and in accordance with terms of the Secured Debl and lhis Security lnslrument. PRIOR SECURI.TY INTERESTS, Wifll regard ,'~ any olher mortgage deed of 'trust, security agrecmcm or ,qher lien documcn{ lhal created a prior securily inlerest or encumbrance on Ihe Prt,pcrly ~lc,rlgagt r agrees: A. To make all paymenls when due and Io perfimn ~r comply wiih all B, T0 prompily deliver lo 1..cadet any notices lha{ Mor[gagor reccivcg fr,,m tlic C. Not to all/)w any modification or cXlCllSi ql of, llOr IO request a ~5' fulure adVallCC'S under any ilole or agreement secured by Ihe lien doctll lcilt withcmt I efider's prior written consent. ..I~AIMS A ,AINSF TITLE. Morlg:tgor will pay all taxes, assessmcms, liens, encur..lbrances, lease paymenls, ground ~cnls. utilities, aud olher charges relating lo.thc I'roperty when duc. Lender may require Mtmgagor m pr~',v dc ~o [.cndcr c )pics ,f ali n¢~t cos that stlch alllOtllltS are due l~lld lhe receipts evidencing M,,r~gagor's pay Bell Morlgag~,r will deli'nd litk: lc, Ihe Property against ally claims that wouicl impair die lien of this Security Inslrtl~l}cnl. N;or{gauor agrees to assign 1o [.caller, reques:ied by Lender, any rights, cla~l/ls Or defenses Morlgagor ma', ha~c ag:fins( p.rties who supply labor or rilalerials mainlaill or illlprove tile Propc ,fy DUL ( N SAI,E OR I~NCUMBRANCE. l~cmler may, at its option, declare tl~c c~3lire bahmcc of lhe Secured I}cb~ ~,) immediaiely due and payable tlpOll tilt' crealion of, or comragt for thc creation ,,f, ally lien, encumbrance, transl~r or sale of tile Prlmerly. ThN righl is sulljcct 1o Ibc restriclions imp,~sed by lkdcral law (I 2 C.F.R. 591 ~ as applicable. This covenant shall run with ihe Pr,perly and sliall rcmai ~ in eflk'cl ttnlil Ibc Secured Debt i~ paid in full and tiffs Security Instrument is released. I'ROIqiltTY. COi DI lION, ALI' ...... LRA I IONS' ANI) INSPECTI()N, Morlgag,)r. will keep file Property in good. con litton and make all .repairs Ih:al aFC reasoilal)ly IlCCessary~ Morlgag~r sllall llOl commit ~r il[loW ally waste, impair uen{, or dctcrim'alion lhc Property. Mortgagor Will keep the Properly [roe of iloxiotls weeds and glasses. Morlgagor agrees that die nature of ~l~c occup racy and use will not subsktnfiaily change wilhout Le~ltlcr's pri,~r writlcn consort:. Morlgagor will no~ permit any iii lilly license, rcstl:iclive covenant o;' CasclliCltt without I.endcr's prior written consent. M,~rtgagor will nolify l.cndcr of all tlelrl t[ItJS, liFOt'cedillgg, claill/s all(J actions agiiillst Mortgagor, alld O[ ally loss or thullagc ~o thc I:~mpcrty. Lender or Lender's agents l!lay at l.ender's opt{oll, enter Ihe ProperJy al any reasonable [JiBe lot Ibc purp< sc of hlspecling lhe Property. l.ellder shall give Mortgagor llotice al the lime c)f or beli,rc an inspection' spccilying a reasonable purpose lbr inspection Any inspecti, m of the Pixq)crly shall bc cmirclv lbr l.enclc~'s bcnctit and Mortgagor will in no way rel) [.C~lder's I0. AUTIIOI~,I']'Y TO PFRFOF~M~ . 1~. Mort,a~or~ g ~ [~dls lo pcrfi~rm any dmv or any of ,he covenants contained in lifts Scorn'hr [Rslrlllllkqll, Lelidgr may, wifliOtlt no[icC pcrlbrn or cause them m bt. pcrlbrmed. Mortgagor appotms l..cndcr as altorncy faCl lo sign M6:r[gagor~,s: name or pay arly anumn necessary lbr perliu-maucc Lender's ri~hl to perlorllq Ibr kl,rluagor shal IiO[ create ~nhbii:i~ifioi lo ~erfC ~m. hnd lendcr's fd t 'c t crflmi w n ~t )fcc ude I tnt er fi"m~ excrc~s n a i [;: ' other rights, tllltle~ Ilie lawor~ this:..Sect rity' [BsiI'BIllClIt, .. If ally. CC liS. l'tK {i 1 1 t ~C l'r~ I*C lv. is discont nt c( or not carr, ed. o reasonable niaiilier::. I C l( e~ mhy: tak~e di slops necessary tt pr ~ cc.t l.cndcr's sect r ty interesl n the Property inclut ing comple ion of die c 5nstruction. l l, ASSIGNMENT ()!i' i.~EASES ANI) REN FS. Mor~ga?r rrevocd)lv re'ants bargains, conveys, mortgages and warrants h~ :Lendc~ as addiliimal Security all thc right title ami intercs~ m and to'a~v and all exis'ine or.fim~re leases, subleases, a ~c any 0{h~?: Written or vcrbai agreen~e~its: ~b? Ihe usc :m~l occupancy 0f anx; porli.n of ~i~ l,roperty~ including .any ext'c~tqons ~[:i~ ;;;Il)i, I:1': '=' ~ ': ' 'g .... .' '"i' .. "- '.'~?. ' "IS, iY. ues and profils (ali F~C~I[S Ill ~d leal OllS or st bMIlUllOlls ol sikh d recmcnts (all rt c,,cd I, as I e,,,cs ) alld roll ss rel~'rred to aS "Rents"}. Mortgagor will promptl) provide Lender wid~ lruc and correcl copies of all cx~sting and lhlurc l,cascs. Mortgagor mity collccl, receive, c~ljoy a[Id USe Iht Rents so long as hlorlgag,~r is nul m dcfaull tnlder the refills of lhis Security Morlgagor agrees that this assivnmcn{ is immcdialc]y effective bcl\~ccn Iht pariies to this Sccuritv lnsttun~en[ M{qt~agm- agrees t~ial thi:S:assigumcnt is efl~ctivc as to fl~ird parties whcn l..cmlcr t~kcs alfirmativ: action prcscribei b~ laW~ and .th;{t this assi~iimenl,:Wiil ~emain.in eH~.~t during any rcdcmptitm pcri0d until dm Sccurcd Debt i's Satisfied Mo}'lgago[ aurees hal I/ ..... cnder may take acltlal: 0s~e~sion o1' the prt)pcrt},, wit tort Iht nccess ry.. ~f CO llllle lcil :' et'il]~ ac[ aiR'. iliat, aciuai, 1,~;~as~esst~' 'i ~ ~s deemed Io occtu when Lender, or .ils agent, notifies Mortgago~ of defituh and demands that any tenant pay all fulurc Rents directly lo l.emlcr, On receiving IlOllCe of dclaull. Mortgagor xvJll cndorsc ;llld deli:er tO l.ender any payment of Renls m Mortgagor's posscssion and will rcce2ve ally [{ellIS in Il'liS{ lbr I..cndcr and wilt n-i coillntingie the Rents with any oilier funds. Any anlot~ilts collected will be applied as providc~ in this Security Instrumcnl. Morlga::or warrants lhat no dclatt[I exists under the Lca~es or any applicable lal~dl0rd/tcuant law; Mmigagor also agrees Io mainlain and require troy [cIlalll [{i comply wilh Ibc tcrms of the l.eases and applicable law. C-loud. L4N I I.ttOO~fi9/-.~3,'$1t Form RE-L,ITG-Y,'- I (pa~e 2 ,'d ,11 provisions 0f ally Ica~e il'. tt!is Security Instrunlenl is on a teaseho d, !i ihe Pn~per~:in~ludc~ a unit in ~ ~:0ndon:iiiii/mi or a l;[;nncd, umt Oevelopnicn.t, Mortgagor will pcrl~,rnl all of Mortgagt~,r's dudes lmder ,lie Covenants, by-laws, 0r :~cgfiiati0ns of condr: [ni~liual or planned milt development. !3. I)EFAULT. Moriga~or W:ill be in del}mit if ally party obligaled on die Secured: Deb/ igils to make:payment wiien duc. Morlgagor will be in dei~ull il' a breach occurs under the terms of this Scctn'ily InstrUment or any olhcr document cXCcuicd fi~r Ihe purpose of crcatiilg, s~eCuri~!g !)!: 'guarantying Ihe Secured Dcbl A ~ood Ihith belief by Lender that Lender at any lime is insecure with respect to any person o~; entity obligated (m ihe Secured Dcbl or that lhc prospect of any payment or thc value of the Property is hnpai: ed si!ai:i also ~0 i~titt tea ~ eve ~t o1: default..:. 14, Oh DLIA[~LI. In so~,~c instances, lcdcral and s~atc law w~ I 'cqmrc I.cndcr to provide Mortgagor whh of the rtgh[ to cure or other notices and may establish dmc schedules fi:~r lbrcclosm'e aclions, Subject to d~csc limitations il' any, Lcnder may accelerate thC SeCut'~d Debt and l~>rcclosc this Security Inslrumen[ iii a manner pr0vidcd by law if Mortgagor is in defau!t ~ Al tile Option of Lenderi all or any p:~t:t of the agreed fees and charges, accrued interest al~d principal shall become immediately due arid payable, after giving mRice~il' required by law, upon thc occmrcncc of'a default or anytime thereafter, in addilion, Lender shall be endded to a die remedies provided by law, die terms ~lll die Securc:l Debi. this Security lnslnimcnt and any relaled docume its J!~clUding~ wilhod[ limitalion, linc power io sell thc Ih'opcrly All remedies arc distinci, cumulative and nol exclusive, and file l~en let :is Cmillol io all remedies provkled al law ~.r cquily, whetl!cr or nol expressly sci fi)rlh. The acceptance by Lender of any sum in pay nent or pardal paymen on ihe Secured Deb[ after iht balance is due or is accc!craied (}1' {tl~Ct7 fi}rcclosUrc proceedings are filed shall ii, it constitnle a waiver ~1- I.c ~t er's [ligtl~ 11~ require Colllplcle Cll[I-C {}1: any existing clef atilt. By nol exercisiig any rentcdy Oli Mortgagor's del}mit, l.endcr does ilol waive l.e::dcr's rig!il lo later consider the event a defauh i ' il cOntm ei ol[[ happens again C( ~ENANIS; AT'FORNI~YS' FEES; COLLECTION COSTS. Except when prohibilcd by law, Mollg,lgor agre<s t0 PaY ail (d l..cndcr s expenses d Mortgag~r breaches aqy covenant tn Ibis Security h~strttmcnl. Mortgaeor will ai~:}:PaY {:inl dOlii~illd any amount incurred bv L~mlcr for insuri~g, inspecting, p'cscrving or odlerwise protlect:i{ig the Pr0Perb; arid Lend0F:S :~curitv interest. These expenses will bear intcre ;I fr0m Ihe date of thc l)awncnl until paid This arum ill ti'lay J:!lC ilde, bu{ is not: !!retied I:O, re;isonablc attorneys' t~cs, court cos ~, and other legal expenses. This amounl does no{ include ailQ]~tle),5' !~es for ~i'sataried employee of the Lender Th s Sccuril~ InstrUment shall remain in efl'ect unlil released, Mortgag~r: a~i::~k 10 pay t~:~;?:~i:By :rcc0t'datim~ c}~sts of such release. 16. I:]~NVIRONM:I}NTAIL LAWS ANI) IIAZARI)(~{]S ] l g .... St.,IL lANCES. As used in thi~? Seciion, (I) Environmenlal I~aw means, withou:t l i!nilatliqn, :lille CoiilPl'el!eilsiv~ Response, C,} npcnsat (,t al!d l.iability Act (CERCLA, 42 U.S.(7. 96{)1 et seq. L and fiii':0:~li~i' lfcd$i~;hi;:: ~i~ife and::i0~M laws regulations, ordin:mce~ :C(4urt tm ers ali0i-n0y :ge,eral opinions or interpretive lell;ers Coficetning tiie pibliC Iieaith. safety, wcllare environment or a ~a~ardi~ti~'~:ubstanc~. and (V'} Substance means any~ toxic,~i~adioactive 6r hazardous material waste, pollutant or cOnlaminant which has characteristics which "endelr thc );tenfi~dly dangeroUS: ~(; the Iqtl,lliC hcaltli; ~}ii'::t9~ wclhre or cnviroixmenl. The term includeS~ '~Vilii6ii{ defined as 'hazardous stibsla~ices," "mzardous wasle" or "hazardous stlbstance' under any I{fig:i:-(mlnent:al Law. ' : Mortgagor represents, warfares and agrees thai: A. Excepl as previously: disclosed and .ac'knowlcdgcd m wridng 1o I~ender, no llazardous Sn >stance is or will be located, slored or released on 0r in ibc Propcr~y. This rcsn'icdon docs ilol apply t [l) small qtlan{ilies of I lazardous Subslallces dial arc generally recognized to bc aFi)roprialc fi,r t!~c normal usc and maintenance of hie Properly. ti. Excepl as previously (lisc}osed ':md acknow edged in writing it: Ix'haler, Mortgagor and every lenanl have been, arc, and shall remain in l:hl} conip lance ~,itli any t pplicable Environment d l~aw. C, Mortgagor shz 1i immediately notify Lender ifa release or thrcalcncd release of a [lazardoos Sul)stance occt rs on, under o:r abort die Properly ~r there is~a violalion of any Enviromucnl..d Law ConCCrldng ~hc Properly. Ill such an evcnl, MortgagOr shall lak:c all necessa ~,,y renlediai aciiOll in accordance wilh any [hlvironmcnlal Law. I), Mortgagor shall immediately nr;ti'f? Lender in w:iting as soon as Nlortgagor has reason to believe there is any pending or threatened inVestigadom claim :Ol' proceeding relating to II~c release or thrcalcn,'d release o[ any tlazardous Substance or lhe rio alton of any Environnie :il;; 1 Law. 17. C()NI)i~MNATION. Mortgagor will give Lcudcr prompt notice of ;my pending o~ dn'catcncd action, by priv~ em' public enlities [o purc mst or take any or all of lhe l'roperty dtrough condcmnalion, eminent domain, or any odler means. Morlgagor aut!mrizes Lendc:r lo imervcne in Mortgagor's uame in any of Iht above described :~ctions or claims. Mortgagor assigns Lender ihe prr ceeds of any award or dlaim l~,r damages connected w th a co ~dcnlna on or other taking o1' all or any part o[ lhe ProPeriy. Such proceeds shall be considered p:~ymcms and will bc applied as provided in this Secmhy Instrumenl. This assignmenl of lin,coeds is subject lc} lhc terms of any prior mortgage, dccd of trust, sccu:ity agrccmcni or od~cr lien document 18. !NSUI{3NCiL M~H~:~gag,~ sh;tll kdep Ih'o)crty instuc, l agains~ l,,ss by -re I]o( c, the i ai~d ~t let hazards and risk~ teas0nablv Ilmt/.cnder reqmres~ Ihe insurance c;ur~cr p-ovid i~ tic insurance shal bc chosen by ~l,~rlgagor :sUbject ib I CnL e~ S aPim raj, :If Mo;te;,~or i~,ils t0 mainiain d~e Coverage d~,scribed above, l.ender may, [ cndct 8 O[)[Io11, t)D[alll coverage Io ~r~ tcct [cndcr s ri hts 11 Ibc P o ~cll~ tCCOldlll ' lo iJl¢ ternls o All insur:ance polic es hnd renewals shall bc acceptable to Lender and shall include ~ standard"mortgage, clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notil~ l.cnder of cancellation or ierminalion of the insurance. Lender Shall have il~e right to hold the policies and renewals. If I.cndcr requires, MortgagOr Siiall immediately give lo Lender all receil)tS: o~:paid prem tiitl:s and.teilewal notices. IJpon Ic~ss, Mortgagor shall give Jmmediale notice lo the insurance can and Lender. l.cnder may make proolTol l~ss il' not made immediately by Mor g;mor. Unless othe:rwise agreed in xsri:ting, all insurance proceeds shal be applied io {1{~ r~st(~?htion ~i~::~pair ~d' thc 1,r0PCrty or to the Secured l)ebt wl:~et:her or not then :d0e, at 'Lender's opdon. Aay al)phcaltoa t,f p;:'OcecdS l~::prmcipal sliall-not extend or postpone the due dale of the scheduled paynlem nor change lhe amoui]l of ally paymem. Any excess will be paid m lhe Morlgagor. ]f lhc Properly is acqtlircd by I~cnder Mortgagor's rJglu ~, a~ny msnrancc policies and procecds resulting from damage to the Properly befi)rc lhe acquisiti.n shall l)aSs 1o Lender ~t, the exlcnl ct lhe Sccm'cd Debl immedialely before lhe acquisition 19. I.SCR ~)~. FOIl IAXES ANI) INSURANCE. Unless otherwise pr. vich.:d m a scp:.,rate agrccmenl, hh,rtgagor ,,','ill nut hc required It) pay to I.ollder funds fi'~r laxcs alld ill';Ul'anct~ Ill escrow. 20, FINANCIAl, REI'O1CFS ANI) A1)I)ITIONA1, I)O(?I~MENTS. Morlgagm' will provide to l.cndcr up, m rcqucsl, any lhlancial Mtltel'llCllt m' inlbrnlation l.cnder may deem reasonably ncc'cssary M(,rlgagor agrees to s;gn. deliver, and lilt any additional documents or cerlificaliony that l.cndcr may congider necessary to perfect. COlllJllue, allcl I~rcserve Mmtgag.~lr'~ ohligations under dfis Securil v hlstrt.llllelll alld Lender's [lOll ?;latins o1~ thc Pr~ q~crty. 21. JOINT ANI) INI)IVI1)UAL L1ABII,I'FY; ¢'O-SIGNEIIS; SUCCF. S.qCH/S ANi) ASSIGNS BOUND. All dmics under tilts Security Instrument are joint a~ld individual. If Mortgagor signs this Sccurip: Inslrumcnl bill does not sign an evidence of dcbl. Mortgagor docs so only .~ illorlgaga Morlgagor'~ interest in Iht Prcq)~rly It) sec,,rc paymcm of die Secured Dc}al a~ld Mortgagor docs nol agree to bc personally liable ~m the Secured Debt I1 thi~ Security Instrtmlcnl secures a gnaranty between Lender and Mortgagor, Mortgagor a;zrces lo ~.aive ally rights that hi:tv provera Lei:dm I'rom hringmg any aclJon or claim against Mortgagor ,r any party ifid~Ncd under Iht ohlieadon Thc.ge righls ma5 include, bul arc not limilcd Io. any anti-deficiency or ollc-actlO~l laws Mortgagor ag~ucs Ih/ti [.~ndcr alld all5 parly h) this Security [Its{i-unicnl lllay cxlclld, lllodil3, or make any cl)ange in die lerms of this Security lnslrmncnt ,~ am c~ }donee of debt'wilh,Sul M~'~rlgag~)r's consent Such a change will IiCI release Mortgagor horn ihe temps cd' this Sccuriiv hlsl~llHlcnl. The duties and benefits of fl~is Secnritv Instrument shall bhld and bctlcfit tile snccessors alit[ assigns of M~rlgag,~r and Lender. 22..Alqq.ICABIAi; LAW;; SILVERABILITY: INTEI/IqlI~TATION. This Security lnsmlmcnl ;x governed by lite laws ol linc jurisdiclkm in which Lender is located, cxcepi Itt thc cxtcn; othcrwixc required bv'lhe Jaws of tile jurisdiction where thc Properly is located. This Sccurilv Inslrumenl is c,mlpletc and !ully Inlegralcd. 'l'hi,; S~c;urity h;slrulncnt nlav llOt be mnctldcd modified by oral agrecmen A[w sectio~ i~ lllis $c:t:tt-ilv hlslrt~twnl, alhlchlnenls, t:r any agrconcnt re[aled Itl Ihe Secured Debt thai conllicls ;~v ih aPplicabic taw wil nt be cfl~tl[Vc, t fit;ss it law cxprc,~sh-' or impliedly pernlils ihe varumctls by writlen agreement If alw sectioll oft, h s Sec~ t'itv lnstru nenl cannol be cnlorccd acc]~rdim, Itl ils terms, lilac scctlt)ll will be severed and will not afl(ct 'tiie"~.i~fi ;c _,a )ility of thc :remainder ol Ibis Scctml3 lnslruh~cnt. \Vhcncvcr used. the singular shall JnchMe tim plural and tile plura! :Ibc si;lgular. The t:aplio;IS and I;catlin9s ol Iht SCChOns of Ihis Sccurny lnslrumcnt are convenience only and a:rc n~a to:be Used ;(/ in~crprel or deline tile It:tins ol Ibis Sccuri:y Instrument. Time is ol thc essence iii lifts Sectn'ily hlslrumcnl 23. NOTICE, Unless 01hcrwisc required hy law, am nmicc shall be given by delivering it or 15' mailing il I? lirst class mail lhe appropriate pa'dy's address on page 1 of this Sccm'ily lnstrumenl, ~[ ,~ any other .tddrcss designated in writing. Nolicc one ln(mgagor will be deemed to be no:ice m all mor[gagt,rs. 24. WAIVFRS, Except t~, thc extent prt 11 bitcd by law, M()i'tgagor waives a iv riglit regarding thc marshalling of liens and asscls and all homestead cxctnpt on rlgl!ts reit ting to the Pix perry. 25. OTIIE!I TERMS, If checked,: i.he folk/wing are applicable to this Security Inm'umcnt: [21 Line or Ci.edil. Tlie'~Sect~rcd 1)ebl' includes a rev'~hqng linc reduced ~o a zero balaiice, this Security [flstrtlill¢[l[ will remain m efl~cl HIIIll released. COliSllqlC{'[0ll IAlan. TMs Security lnstrumenl sccmcs an ohligatit)n incurred l't)r the constrnction of an improvcmem thc Property. [3 FIxlure Filing. Mortgaeor grams to l~ender a security interest in all goods Ihal Mortgagor owns now or in Iht lulurc and thai atetff Will b6ei~iitie fixtures related to tl~e Properly. This Security Insh'ttmeni suffices as a financing s~alcmcnl and any carboll, pholographic ur oflwr reproduction may bc filed of record fi~r purposes of Article 9 ol Iht Uniform (/ommercial C(Oe. [2~ Riders. The covenants and agreements ol each of ll]e riders checked below arc incorporaled into and suPl)lement and amend tile lerms oF tills Security lnstrumenl. [Check all applicable boxes] E3' Cond~fiiniumRide~ ::El: Planned Unit I)eveh)pmenl Rider El Additional Tenns~ S!(~N:A, ;IURI~S:, :P,v:s:~gnmg below,,,M°rtgag°r agrecs to the Icrms and covcnan s coniamcd n tus Sectmty [nstrt taunt and m any a copy of this Security Instrument on all( date S{atcd on page 1. :::.' ':4.~: ,.,;,~ ~,: :.~"~4 5.~..':,(: : ~' '~ '~' , ~ :' · '.: : · t" ~' ')' . ' : . :, (Si~llalurc) DEl L. REES, TRUSTEE (I);,~ (S/gnaturc~ SIIIRIEY~' REE5 TRUSTEE al)ate) ACKNO NT: ' . ' - 'RLE~ :AND Sltt. RLLS. G RI;ES, TR'USTFI;:S OF 'TIt~ I)~L L AND (Notary Pul:he} Omge 4 of 4)