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After Recording Return To:
THE JACKSON STATE BANK
& TRUST
P.O. BOX 1788
JACKSON, WYOMING 83001
Prepared By:
900907
[Space Above '1 his Line For Recording Data]
PAR.CEL NO.:
IA)AN NO.: 5937623,1
TITLE NO.:
MORTGAGE
I. Line of Credit)
TillS MORTGAGE, dated JULY 01 , 2004 , is between
Charles T. Lopelna, AND Laura R. Lopeman, HUSIIAND AND WIFE, as le.ants by
enlireties
residing at 267 Rimfire Road
Etna, W'YOMING 831 [8
thc perso, or persons signing as "Mortgagor(s}" below and hereinafter referred to :as "we" or "tls" and
TIlE JACKSON STATE BANK & TRUS'F, A WYOMING BANKING CORPORATION
with an address at
P.O. BOX 1788; JACKSON, Vlqr'OMING 83001
and hereinafter referred to as "you" or the "Mortgagee."
MORTGAGED PREMISES: In considcra6on of the loan hereinafter described, we hereby mortgage, grant
and convey to you Ihe premises located at:
267 Rimfire Road
Elna
M.nicipality
WYOMING 83118
State ZIP
Street
(the "Premises'").
Lincoln
and fi.ahcr described as:
SEE "EXIlIII1T ti" ATTACHED ~IERETO AND ilY I/EFERENCE MADE A PART HEREOF.
Initials
· HELOG - WY Mortgage
FE-31311WY) (0303) Page 1 of 4
ORTG'I'NA~
The preznises includes all buildings and other iInprovements now or in tile filture on the Premises and all rights
and inlerests which derive from our oxvnershil~, use or possession of the Premises and all appurtenances thereto.
LOAN: Tile Mortgage will secure your loan in the principal amount of $ 95,000.00 or so much
thereof as may be advanced and rcadwmced fi-om lime to time to
Charles T. Lopeman
Laura R. Lopeman
, and
the Borrower(s) under tile Home: Equity Credit Lilm Agreement and Disclosure Statement (the "Note") date~t
JULY 1 , 200a' , plus interest and costs, late charges and all other charges related to the
loan, all of which sums are repayable according to the Note. This Mortgage will also secnre the perfonrmnce of
all of the promises and agreements made by us and each Borrower and Co-Signer in the Note, all of our
promises and agreements in this Mortgage, any extensions, renewals, amendments, supplements and other
modifications of the Note, and any amounts advanced by yon under the terms of the section of this Mortgage
entitled "Our Authority To You." Loans under the Note may be made, repaid ant! remade from time to time in
accordance with the terms of the Note and suhject to the Credit Limit set forth in the Note.
OWNERSHIP: We are tile sole owner(s) of the Premises. We lrave tile legal right :o mortgage the Premises to
yOU,
BQRROWER'S IMPORTANT OBLIGATIONS:
(a) TAXES: We xvill pay all real estate taxes, assessments, water charges and sewer rents, relating to the
Premises when they become dne. We will not claim any credit on, or make dednction fi'om, the loan under the
Note because we pay these taxes'.'md charges. We will provide you with proof of payment upon request.
(b) MAINTENANCE: We.will maintain the bnilding(s) on the Premises in good condition. We will not
make major changes in the building(s)excepl for normal repairs. We will not teal' down any of the building(s)
on the Premises without first getting your consent. We will not nse the Pre~nises iliegally. If this Mortgage is on
a unit in a condonmiium or a planned unit development, we shall perform all of our obligations under the
declaration or covenants crealing or governing the condominium or phmued unit development, tbe by-laws and
regulations of the condominium or phmned unit development and constituent documents.
(c) INSURANCE: We will keep the building(s) on the Premises insured at all times against h)ss by fire,
flood and any other hazards you may specify. We nmy choose the insurance company, but our choice is subject
to your reasonable approval. The policies nmst be for at least the amotmts and the time Periods that you specify.
We will deliver to you upon your request the policies or other proof of the insnrance. The policies must name
you as "modgagee" and "loss-payee" so that you will receive payment on all insnrance claims, to the extent of
yonr interest under this Mortgage, before we do. Tile insnrance policies mnst also provide that You be given not
less than 10 days prior written notice of any cancellation or reduction m coverage, for any reason. Upon
request, we shall deliver the policies, cedificates or other evidence of insurance to you. Ill the event of loss or
damage to thc Premises, we will immediately notify you ill writing and file a proof of loss with the insurer. You
may file a proof of 10ss on our behalf if xve fail or reflise to do so. You may also sign our name to any check,
draft or other order for tile payment of insurance proceeds in the event of loss or damage to the Premises. If you
receive payment of a claim, you ,'rill have the right to choose to use the money either to repaii' the Premises or
to reduce the alnount owing on llae Note.
(d) CONDEMNATION: W.,: assign to you tile proceeds of any award or clai,n for damages, direct or
consequential, in connection witl~, any condemnation or other taking of the Premises, or part thereof, or for
conveyance in lieu of condemnation, all Of Milch shall be paid to yon, subject to the terms of any Prior
Mortgage.
(e) SECURITY INTEREST: We will join wilh you in signing and filing document~ and, at our expense, in
doing whatever you believe is necessary to perfect and continue the perfection of your lien and security interest
in the Premises.
(f) OUR AUTHORITY TO YOU: If xve fail to perform our obligations under this Mortgage, you may, if
you choose, perform our obligations and pay such costs and expenses. You will add the amounts you advance to
the sums owing on the Note, on which you will charge interest at the interest rate set forth in the Note. If, for
example, we fail to honor our promises to maintain insurance in effect, or to pay filing fees, taxes or the costs
necessary to keep the Premises in good condition and repair or to perform any of our other agreements with
you, you may, if you choose, advance any sums to satisfy any of' our agreements with you and charge us interest
on such advances at the interest rate set forth in the Note. This Mortgage secures all such advances. Your
payments on our bebalf will not cure our failure to perform our promises in this Mortgage. Any replacement
insurance tbat you obtain to cove~ loss or damages to the Premises may be limited to the amount owing on the
Note plus the amount of any Prior Mortgages.
LOANNO: 59376234
· HEI.OC - WY Moflgage
FE-3 ~ 31 (WY) (0303)
Initials
Page 2 of 4
ORIGINAL
(g) PRIOR MORTGAGE: If the provisions of Ihis paragraph are completed, this Mortgage is subject and
subordinate to a prk)r lnortgage dated 07-01-04 aud given by tls to
The Jackson State Bank & Trust
as mortgagee, in the origiual amount of 156,000.00 (the "Prior Mollgage")i We shall not
increase, amend or modify the Prlor Mortgage wid~out yonr prior w,'itten consent and shall npon receipt of any
written notice fi'om the holder of the Prior Mm]gage promptly deliver a copy of such notice to you. We shall
pay and pm'form ali of our obligations under the Prior Modgage as and when required under the Prior
Mortgage.
(h) HAZARDOUS SUBSTANCES: We shall not cause or penni] the presence, use, disposal, storage, or
release of any Itazardous Substm~ces on or ill the Premises. We shall not do, nor allow anyone else to do,
anytlfing affecting the Premises that is in violation of any Envhxmmental Law. The preceding two sentences
shall not apply to the presence, use, or storage on the Premises of small quantities of Itazardous Substances that
are generally recognized to be al,proPriate to normal residential uses and to ,naiutetmnce of the Pi-cruises. As
used in this paragraph, Hazardot. s Substances" are those substances defined as toxic or hazardous substances by
Environmental Law and the following substances: gasoline, kerosene, other flalnmable or toxic petroleum
products, toxic pesticides and herbicides, volatile solvents, materials containing a!;bestos or formaldehyde, and
radioactive materials. As used iu this paragrapli, "Environmental Law" means fede,'al laws and laws Of the
jurisdiction where the Premises are located that relate to health, safety or enviro,m:ental p,'otection.
(i) SALE OF PREMISES: We will not sell, transfer oxvnership of, mortgage or otherwise disPose of our
interest in the Premises, in whole or in part, or permit any other lien or claim against the Premises without your
prior written consenL
0) INSPECTION: We will permit you to inspect the Premises at any reasonable time.
NO LOSS OF RIGHTS: The Note and this IVloi'tgage may be negotiated or assigned by you without releasing us
or the Premises. You may acid o; release any person or properly obligated nnder the Note and this Mortgage
without losing yonr rights m the Premises.
DEFAULT: Except as may be prohibited by applicable law, and subject to any advance notice and cure period
if required by applicable law, if ;:ny event or condition described in Paragraph 12.A. of the Note occurs, you
rnay foreclose upon this Mortgage. This means~that you may arrange for the Premises to be sold by
advertisement and sale or by judicial foreclosure, at your option, as provided by law, in order to pay off what
we owe on the Note and under this Mortgage. [f the money you receive fi'om the sale is not enough to pay off
what we owe you, we will still owe you tile difference which you may seek to collect fi'om us in accordance
with applicable law. In addition, you may, in accordauce with applicable law, (i) enter on and take possession of
the Premises; (ii) collect the rental payments, including over-due rental payments, directly fi'om tenants after
simply notifying thmn first class mail to make rental payments to you; (iii) manage the Premises; and (iv) sign,
cancel and change leases. We agree that the interest rate set fodh in the Note xvill continne before and after a
default, entry of a judgment and 5oreclosu,-e. In addition, you shall be entitled to collect all reasonable fees and
costs actually incurred by yon in proceedifig to foreclosure, including, but not limited to, reasonable attorneys
fees and costs of documentary evideuce, abstracts and title reports.
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you the
rents of tile Premises. You or a receiver appointed by the courts shall be entitled to enter upon, take possession
of and manage the Premises and dollect the rents of the Prenfises tach,ding those past duc after simply notifying
thelu by first class mail to make r'gntal payments to you.
WAIVERS: To the extent permitted by al, plicable law, we xvaive and release any error or defects in proceedings
1o enforce this Mortgage and hereby waive Ibc benefit of any preseut or fi,ture laws providing for stay of
execution, extension of tilne, exemption fi'om attachment, levy and sale and homestead exemption.
BINDING EFFECT: Each of us shall be fiflly responsible for all of tile promises and agreements in this
Mortgage. Until the Note has been paid in fidl and your obligation to make fmlher advances nnder the Note has
been terminated, the provisions of this Mortgage will be binding on us, our legal representatives, our heirs and
all fimn'e owners of the Premises. This Mortgage is for yom' benefit and fol' the benefit of anyone to whom you
may assign ,t. Upon paylnent il~ full of all amounts owing to you under the Note and this Mortgage, and
provided any obligation to make further advances under thc Note has termiuated, this Mortgage add yom' rights
m the Premises shall end.
LOAN NO.: 59376234 InitiM$
· HELOC - WY Mortgage
FE-3131 (WY) (0303) Page 3 o~' ,4
ORIGINAL
NQTICE Except for any notice required under applicable law to be given m anolher manner, (a) any notice to
us provided for in tiffs Mo~gage shall be given by delivering it or by mailing such notice by regular first class
~nail addressed to us at the last address appearing in your records or at such other address as we may designate
by notice to you as provided herein, and (b) any notice to you shall be given bY:certified mail, return receipt
requested, 1o your address at
THE JACKSON STATE BANK & TRUST
P.O. BOX 1788; JACKSON, WYOMING 83001
or to such other address as you ma7 designate by notice to us. Any notice provided for in this Mortgage shall be
deemed to have been given to us cr you when given in the manner designated herein.
RELEASE: Upon payment of all sums secured by tiffs Mortgage and provided your obligation to make fu~her
adwmces under the Note has terminated, you shall discharge this Mortgage without charge to us, except that we
shall pay any fees for recording o~ a satisfimtion of this Mortgage.
GEN'E~L: You can waive or &flay entbrcing any of your rights under Ihis Mo~gage without losing them.
Any waiver by you of any provisions of this Mortgage will not be a xwdver of that 0r any other provision on any
other occasion.
THIS MORTGAGE has been signed by each of us under seal on the date first above xvritten.
WITNESS:
Mortgagor:
(SEAL)
Mortgagor:
(SEAL)
S'FATE OF WYO1MING, Lincoli~ Count;3
The foregoing instrument was a~cknowledged before me thi~ , ~
Charles T. Lopeman AND Laurr~ R. ~eman
by · {~ nO' ~Ola puhlir ~
1( County of
My Commission Expires~__~sslon ~pJres Mar 14 2006 l/ ~~
~ ~'~~ ~~ /
, Notary Public
LOAN NO.: 59376234
· HELOC - WY Mortgage
FE-3!31(WY) (0303)
Page 4 or 4
OR I G IIq'A.T.,
36o
INITIAL
PAACE'L I FL'E $ [t"~LE:
To-wit ..
That part of' the SE%NW.,, anc~ that part of the NE",SW,/i of Sect -
Lincoln Coumy, \Vyommg, it being the intsnt to am'~-~ .-~ l~n 23 T36N, RI 19W
of the St,;wan Creek Tracts as sat .... u moreco~ectlydescribeTrac~
TROPERTT PLAT STESV~* ~_d Tract 3 s depicted on an unfil-d ....
pre ared v r .... ~ ~ _ ,-~x~ U~EK T~&c " _ ..... p~t t
h~,~ . B% ~... c ~all, PL/LS 274 and ~- ' .2TS , dated July. Aukst 97~ .
c L. terK OlLlnCO[l] C~u,.~., :_ n , ,. ueScrlued in that deed a¢..--.. - ~ and
, ~ .... y t, moou I t8 of Photostat c p ....~ .... vuru In (he Office
...... umsonpage 14 asfolows.
BEGINNING a~ the no~lheas, corner of sad
Ihence S00o.00,.00,,W 652 97 feet, along the east l/ne ofsa~d ~:6~;WV,. to a point on
hnc common Io sa~d Tract 3 and Tract 5 of sad Stew~ Creek Tracts
thence M89%08'-d8"W. 538 19 feet along sa~d common line, to the southwest point
sa~d Tract 3 on the easterly right-of-way tine of EIhs Road as depicted on satd plal
Ihence N00o.12,.3 i,,W. 808 10 feet. along said easterly nghbof-way line. to thc
point of Trac~ I of sa~d Sle'.vart Creek Tracts of record msa, d Office. in Bo3k 465 of
Pholostatlc Records on page 775 as said Tract I ~s depicted on tha. plat of record m sam
Office, htled. "JACK E AN~ TESS B CORSI PLAT OF T[MCT WITH~
SECTION 23 T36N R1 I9W L~COLN CO~Ty, WYOM~G", dated 9 October 1992,
as revised and filed as P at No 50.0;
I .
thence S890.38,.48,,E, 541.14 feet, along the south line of said Tract 1, to the southeast
point of said Tract 1,. on thc east line of said SE%NW¼;
thence S00o.00,_00,,W, 155.07 feet, along sad east line, to thc CO~ER OF
BEGINNING;
the BASE BEARING for this survey is the east line of the SW% of Section 23 T36N,
RI 19W being N00o.00,.00,,E;
corner found as described in the Corner Record filed or to be filed in 0lc Office of
the Clerk of Mncoln County;
each "point,,I marked by a 5/8" x 24" steel reinforcing rod with a 2" aluminum cap
inscribed, "SURVEYOR SCHERBEL LTD AFTON WY PLS 5368", with appropriate
details; ·
all in accordance with the plat prepared to be filed in the O£fi~e of the Clerk of Lincoln
Count}, titled, "PERRY G. CLAKK AND BARBARA CLARK PLAT oF STEWART
CKEEK T1L~CT$ . AMENDED WITHIN THE SE¼NW¼ NE%sw¼ SECTION 23
16/5'(Piembe~; 2002 /_~'v~,/(X~fl' ~