HomeMy WebLinkAbout875350 BANK OF STAIR VALLEY PA~E 06 ~
L t N COCOUNT
"' Y CLERK
C" /'.
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sooK 47 ,R -9 41
MORTGAGE
1. DATE ~ P~TIES, ~ ~t~ of ~ Mo~t~g~ (S~i~ ~en0 i~ ~.~'J.~'~q~L.' .......
. MORTGAGOR: NICHAR L, SNIVELY
PO ~OX 3172
ALPINE, WY 83128
[] If checked, refer m thc attached Addendum i,ucorporated herein, [br additional Mortgagors, their signatures and
acknowledgments,
LENDER; THE BAI~IK OF STAR VALLEY
384 WASHINGTON STflEEr
PO BOX 6007
A~?0N, WY 63110
83.03t6143
COI.'qVI~¥ANCE, For good and valuable consideration~ the )eceipt and sufficiency of which is acknowledgsd, and to .~eeare
the Secured Debt (del'meal below) ~d MortgagoFs performance under this Secadty lustnanent, Mortgago~ gr,ants, baxgains,
conveys) mortgages and warrants to Lender, with power of sale, the following described property; tOT 7~, N0~01~ SANCH~$ DIVISION
NO. 6, LINCOL~ COUJYTY, WYOMING, ACCORDING TO THAT PLAT FILED MAY la, 1996 AS PLAT NO, 311F IN THE OFFICE OF THE LINCOLN COUNH CLERK.
The 'property is located ia ........................
(County) ...............................................
(~d,~,,~) .................... , ....................... .............................. Wyoming .......................
(ci~) (ZIP Co~e)
Togetlaer with all rights, e~ements, appurten~ces, roy~ties, ~eral rights, oll and as ri b
ditches, ~d.w~ter stock ~ ~1 exist~g ~d ~c ~ ................ g .g ts, all water and rtpari~ rigbt~,
, v,~.~;m~, ~mcmres ~}xmres, ~ replacements ~at may or at
~y t~e ~ me ~mre, be pa~ of ~e real esta~ d~cn~ above (all reused to ~s Prope~ ). now,
3. ~XI~ OBLIGATION LIMIT, ~e tot~ pr~eip~ ~o~t s~cur~ by ~is Secmi~ Inst~ent at'~y one t~e ~h~l not
exceed $. 7.~,q0q.qq ........................................... ~s l~itafion of ~o'~t does not hclude ~tere,t ~d o~er fees ~O
charges validly made pursuit tO ~is S~uri~ hs~ent. ~so, ~ l~imdon does not apply to adv~ces made ~der ~e
term..~ of ~i, Securi~ Ia~trment t0 protect Lender's sec~i~ ~d to pe~o~ any of ~e coverts conU~ed k~ ~is S*curi~
Instr~ent,
4. SECOND DEBT AND FUT~ ~VANC~, ~e term "Secured Debt" ii defm~ m fo~ows:
A, Debt ~cuned ~er ~e terms of ~ pro~so~ note(s), con,act(s), gu~(~) or o~er evidence of debt describ~
below ~d all ~ek ~x~ions, renewals, modifi~tions or substitution. ~en referencing t~ ~bts below it is
suggested that you include ite~ such as borrowers' n~s, note amoums, interest rates, matu~ rimes, etc.)
P~OMI~ORy NOTE OATEO 8/lS/2001 IN TH~ a~OU~ on saS, ODD. DO.
WYONIIN~3 - MORTGAGE (NOT FOR FNMA, FHLM¢, FHA Off VA USE)
(~1 ge4 aankera Sylterfl~, inc., si, clou~l, MN il-B00-3~.7.2341) I=~;,m I~-MT{LWy 1111 II/S4
B. All future advances from Lender to Mortgagor or other future obligafiom, of Mortgagor to Lender under any, promissory
not=, contract, guaranty, or other evidcnc~ of debt executed by Mortgagor in favor of Lender executed after this SCcuri~
Instrument whether or not thi~ Security I~u'ument is specifically referenced. If more than one person signs ~his Security
Instrument, each Mortgagor a~rc~s that this Sccuri~ Instrument will secure =all furore adva,12ces and fut'tlr¢: obligations
that are given to or incurr~i by any one Or raolt¢ ~lor~glgor, or amy one or more Mortgagor and others. All future
advances and other tut,are obligations are secured by thii Security Imtrument even though all or part ma!/not yet be
advanced, All future advances and other future obligations are secured as if made on the date of this Security Instrument.
Nothing in this Security Instrument shall comtituto a comrnil~llent to ma~;8 additional or future loans or adwmces in any
mount. Any such commitment must be agreed to in ~ separate writing.
C..All obligations Mortgagor owes to Lender, which may later arise, to the ~."xtent not prohibited by law, including, but not
limited to., llabilitles for overdrafts relating to any deposit account agreement between Mortgagor and Lender,
D. All additional sums ~vanced and expenses incurred by Lender for in:iuring, preserving or otherwise p~otecting the
Property ,:.nc] its valu~ and any other sums advanced az~d expenses in,ur:ced by. Lender under the terms otthis Security
instrument,
This Security Imtrument will not 6ecure any o~er debt if Lender fails to giw any required notice of the right of rescis..;ion.
$, PA.Y'I~ENTS, Mortgago! agrees that all payments reader ~e Secur~t Debt will be paid when due and in accords'ucc with the
terms .of the Secured Debt and this Security Instnuuent,
6, PRIOR SECURITY INTERESTS. With r~gard to any other mortgage, deed of trust, security agreement or other lien
document that c.reated a prior security inter.st or encumbrance on the Property, Mortgagor agrees:
A. To make all payments when due and to perform or comply with all covenants.
B. To promptly deliver to Lender any notices that Mortgagor receive~ from the holder,
C. !Not to allow any modificatio~ Or extension of, nor to request any future advances ~ncler any note or agreement secured
]~)y the lien do¢llmeul without Lender's prior wri~en consent.
?, CLAII.VI$ AGAINST TITLE, Mortgagor will pay all taxes, assessments, liens, encumbrances, lease paymenls, ground rents,
utilities, and other charges relating to th8 Property when due, Lender may require Mortgagor to provide to Lender ~opies of ail
notice~[ that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the
Prope~y against any claims that would impair the lien of this Se~urlty Instruutent, Mortgagor agrees to assign to Lender, as
requested by Lender, any rights, claims or defenses Mortgagor may have ag..~dnst parties who supply labor or materials to
makuta.in or improve the Property.
8, DUE ION SALE OR ENCUMBRANCE, Lender may, at its option, declare the entire balance of the Secured Debt to be
immediately dVm and payable upon the ¢~eation of, or contract for the creation of, any lien, encumbrance, trar~fer or sale of the
Property. Thislright is subject to the.restrictions imposed by federal law (12 C,,F.R. $9I), as applicable, This covenant
nm with the Property and shall remain in effect until th~ Secured Debt i~ paid in frill and this Security Instrument is released.
9. PROPERTY CONDITION, AL?I~RA2'IONS ANI) INSPECTION, Mortgagor will keep the Property in good condition and
make all repairs that are reasonably necessary, Mortgagor shah not co~..m, jt or a~,low any waste, impairm~t, or det~:riorstion of
the Property. Mortgagor will keep th~ Property free of noxious weeds and grasseS. Mortgagor agrees that the uatutc of the
occupa~:y 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 Lenclcr of all
demands, prc~eedings, claim{ and actions against Mortgagor, and of any loss or damage to th~ Property,
Lender or Lender's agents may, at Lender's option, enter the PrOperty at any reasonable tirae for the purpose of inspecting the
Property. Lender shall give Mortgagor notice at the time of or before an inspection {peclfying a reasonable Purpose for thc
impection, Any in*'peotion of the Property shall be' entirely for Lender's benefit and MOrtgagor will in no way rely on
Lendei"s inspection.
10. AUTH!ORIT¥ 2'0 P~R.FORM. If Mortgagor fails to perform any duty or any of the covenants contained in this Security
Instrument, Lender may, without notice, perform or caus~ them to be perform.ed, Mortg~tgor 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 shall
no~ crc,ate au obligation to perform, and Lender's failure to perform will not preclude Lender from ex~rcislng any of Lender's
other rights under the law or this Security Instrument. It ~y construction on the Property is discontinued or not carried on ina
c0mpletionreas°m~ble ofma~uer'the construction.Lender may take all step~ necessary to protect Lender'!; security interest in the Property, including
11, ASSIGN'~NT OF LEASES AND RE~NTS, Mortgagor irrevocably grants, bargains, conveys, mortgages and warrants to
Lender as ~ldifloual security all the right, title and interest in and to any and all existing or future leases, subleases, and any
other written or verbal agreements for the use and occupancy of any portio.u of the Property, including any extensions,
r~n~wa~lm, modifications or subst, itufiom of such agreements (all referred to as "Leases") and tents, issues and proi'~t{ (all
referred to as ".Rents"). Mortgagor will promptly provide Lender with truc and correct copies of all existing and rupture Leases.
Instrument.M°rtgag°r may collect, receive, enjoy and use the Rents so long as Mortgagor ia not in d~fault under the terms of this Security
Mortgagor agrees that this assignment is immediately effective between the parties to this Security Instrument, Mortgagor
agree~ that this assignment i{ effective as to third partie, when Lender takes affirmative action prescribed by law, and that this
assignuaeut will remain j.u effect during stay redemption period until the Sera, red Debt is satisfied. Mortgagor agrees that
Lender may take actual possession of the property without the necessity of coimueucing legal action and that acuaal possession
is de~u~ed to occur when Lender, or its agent, notifies Mortgagor of default and demandm that any tenant pay all fuuare
directly to Lender. On receiving notic~ of default, Mortgagor will ~ugiorse and deliver to Lender any payment of Rents in
Mortgagor's possession and will receive any Rents iu trust for Lender ,nd will {lot ¢0rumingl~ the Rent~ with any other
Any an~ouuts collected will be applied as provided in this Security Instrument. Mortgagor warrants that zm default ,cxists under
thetermsLe~seso~f the°rLea.~es any applicabIeand applicablelandl°rd/tenantlaw, law. Mortgagor also agrees to maintain and require any torrent to corn]ply with the
,'~u~uuuuz BANK OF STAR VALLEY P¢IOE 08
0 I753S0 943
tZ. ~ASEHOLDS; CO~O~S; PLANED ~ DE~LO~NTS. Mo~gator atrees to comply
pro,vi~ion~ of ~ I~ase if ~ Sccud~ Inst~ent t~ on a l~s~old. If ~e Proper~ ~cludes a ~i~ ~ ~ cond6~i~ or a
pl~ed ~t developm~t, Mo~ga~or will perform ~I of Mo~a~o~'s duties ~der ~e coven,S, bY,laws, or re~Iations of
· e con~om~ or pl~ed uni~ development.
13. D~AULT. Mor~agor will be ~ defa~t ~ ~y p~ obligat~ on ~e Secured Debt fails to m~e payment when due,
,rt~agor will be. ~ defter if a breach occ~ ~er ~e ter~ of ~ff Securi~ ~en~ or ~y o~er doc~en~ executed' ~Or
pu~ose of create8, secu~g or gu~8 ~e Secured Debt.. A 8cod f~ belief by Lender ~ ~der at ~y
~s~cure wi~ respect to ~ per, on or entiv obligated on ~e Secur~ Debt or ~at ~e pro~pec~ of ~y paymem or ~e value of
· e Prope~ is ~p~re~ shall also consdmm ~ evem of de[~ult
14. ~DIES ON DEFAULT. In ~ome ~s~ces, f~eral ~d state law wl~ r~uffe ~der m provide Mortgajfor wi~ notice
of l~e right to ct~e or o~e.r noti;~ ~d may establish t~e Schedules for foreclosure aerie .
~Y, Lender ~ accelerate ~e Secured Dcb~ ~d fo ~ .... ~. c._._: ............ ns Subject to ~e l~imdom, if
is ~: default, re ..... ~,~ ~,,~? ~u~.~; m a ~er provided by law ff
At '~e option of Le~er, ~1 0r ~y p~ of ~e agr~ f~ and c~ges, ~ccm~ ~erest aa~ pr~cip~ ~11 become
due ~d payable, after 8iv~ notice if r~uired by law, upon ~e occurrence of a default or any~e ~ereaff~r. ~
Le'ndcr ~hall be ~ed ~ all ~e rem~ics provid~ by l~w, ~e ~e~s of ~.e Secur~ Debt, ~is SecuriV I~u~en~ ~d
related documents ~clud~, wi~ou~ l~i~ation, ~e power to sell ~e Prope:~. All rcm~ics arc distinct, cumul~iv~ and not
cxulu~/w, ~d ~ L~nde; i~ enticed to all r~me~ provided at law or equi~, whc~er or no~ e~r~sly sc~ for~. The
accept~ce by Lender of ~y s~ ~ payment or parti~ paymen~ on ~e Secured Debt a~er ~e b~ce is due or is accelerate~
or g~r foreclosure proce~gs ~e ffl~ shall not co~tute ~ w~ver of Lender's ri~t to require complete c~e of any
default. By not ~xercis~8 ~y remedy on Mortgager's default, Lender does not waive L~dcr's righ~ m later co;~sider ~e
a d~.~ault if 1~ cominues or happens again,
15. E~P~NSES; ADVANCES OX COrNeTS; ATTO~yS, FEES; COLLECTION COSTS. Exes; when prohibit~
by law, Me,aBet agrees to pay ~1 of Lender's e~enses if Mortgagor breach~ ~y covert ~ ~ S~cud~ ~st~ent.
Mortgagor will ~o pay on dem~d ~ ~o~ ~cu;red by Le~er for ~8, ~spec~8, pr~erv~t; or
pro~:cct~8 ~ Prope~ ~d ~dcr's ~ecuriv ~re~t. The~e expen~e~ will bear ~terc~t ~om ~e~te of ~e pay~ment ~"Paid
in f~ll a; ~e highes~ ~erest rate ~ zffec~ as provid~ ~ ~e ~erms of ~e,Secured DebL Motivator a~r~ ~o p~y all cos~
expenses ~curr~ by L~d~r ~ collect~, enforces or protect~g Le~er s rJ.ghts ~d remedies under ~ ~ecuri~
~l;i ~o~t ~y ~cl~e, but ~ not l~ted to, reasonable at~orney~' fe~, cou~ co~, ~d o~er legal expense:~, ~s ~ou~
do~ not ~clude attorneys' fees for a s~aried employ~ of ~e ~nder. ~is Secu~ ~s~ent sh~l re~ ~ effect'
released. Mo;t~a~or a~;ees to pay for any reco~ation co~t~ of ~uch release.
16. E~RO~NT~ LAWS ~ ~~OUS S~STANCES. As us~:d ~ ~ ~ec~ion, (1) ~nv~o~en~ Law m~s,
w~out l~ftatfon, ~e Comprehensive Snv~ro~tal ~po~e, Compensation ~d L~bilf~ Ac~ (CERCLA, 42 U.S.C. ~601
et s~q.), ~d all o~er federal, state and loc~ laws, retentions, ordained, co~ orders, aUomey gener;g op~ona
~:c~retiw lctmrs concem~ ~e public heal~, saf~, w~ ~v~o
Sub:st~ce me~s ~y toxic, radioactive ~, ~ ....~ ........... ,. ,~ent or ~ h~do~ subs~e. ~ 2
render ~e subs~ce ~n~J,~ ....... F' ~'~ ~u~rj~, w~ste~ pouu~nt or con~an~ ..,~-~ ~-- '- ~ ).
~ .ub ........, ~afety, 'wel~e or enwro~e~. ~e
includes, wi~out l~i~tion, ~y substances defined as "h~ardou~ material," "~oxic subs~nce~,' ~'h~do~ waste": or
"~;ardous subs~e" under any ~vMo~cnt~ ~w.
Mo~gagor r~rescnt~, warrants ~d agree~
A. Bxcep~ a~ p;evi~sly disclos~ ~d ac~owled~ ~ writ~ to Lende~, uo H~ardou~ Sub~c~ ~ or will bc located,
stor~ or released on or M ~e Pro~rF. ~is rest~ction does not app~ to s~ q~ddcs of H~rdou~ Subst~ces
are ~rally recognized to b~ approp~te for ~e norm~ use ~d ma~t~ance of ~e Pmpe~.
B. Except as previously disclosed ~d ac~owledged ~ ~i~g to L~der, Monga$or ~d eve~ t~t have be~, ~, .~d
shall rc~ ~ ~I1 compli~ce wi~ ~y appli~ble Bnv~o~en~I Law.
C. Mo~or sh~l i~edia~ly no~ Lender ffa release or ~rea~ned release of a H~do~ Sub~ oc,;~s on,
or about ~e Propcrv or ~crc i~ a violation of ~y Bavlro~ea~ Law con~m~ ~e Prop~. ~ ~;uO ~ ev~t,
Mo~gagor ~II ~e all n~cssa~ rcmcdi~ action M a~ordance wi~ any Enviro~cnt~ Law.
D. Mor~agor s~ll ~edia~ly noti~ Lender M writ~ a~ soon as Merganser has re,on to beli~e ~ere is ~my pendM~ or
~ea~n~ ~vestigation, cla~, or proc~ed~g mla~g ~ ~e release or '~rca~ release of ~y H~dou~ ~s~cc or
· ~ violation of ~y Bnv~o~en~ Law.
17, CO~BMNATION, Mortgagor will give Lender prompt notice of ~y p~dMg or '~ea~ned ac~ou, by p~'vate or ~blic
en~ties to purchase or ~e ~y or all of ~e Proper~ ~rough conde~ation, ~cnt do~, or ~ o~er me~.
au~or~e~ ~nder to ~te~eue M Mortgagor'~ u~e m ~y of ~ above de~cdb~ acfio~ or cl~s. 'Mortgagor ass~
L~ndcr ~c procccd~ of ~y awed or cla~ for ~a~ co~tcd Wi~ a con~,e~don or o~er ~M~ of ~I or ~my par~ of
Prope~. Such proceeds sh~l be co~sidered paYment~ ~d will be appli~ as provided M ~ SecuriV ~ent.
assig~em of process is subject to ~c terms of ~y p~or moSgage, deed of trust securi~ a~eement or o~er lien do~ment
18, IXS]~NCE' Me,anger ~ha~ ~ep Prope;V M~ed ag~t loss by fire, flood, ~e8 ~d o~er h~d~ and ris~ reasonably
a~o~i~ted wi~ ~e Prop~ duc ~o i~ Vpc ~d loca~on. ~ ~cc ~h~ be ~d ~ ~e ~o~ ~d for ~e period~
· at ~er requiem. ~c ~s~c~ carrier providM~ ~e ~u~ce sh~l be ch
which sh~l not be ~easonabl wi~d. If ~ ~ . ._ _,_ osca by Me,anger ~ubject to Lender' a
Y Mon~a~_r fa~l~ to ~mt~ ~e ~ver ~ d ' _ S pproval,
LenCleFs option, ob~ coverage to protect Lender's righ~ ~ ~e Prope~ accord~ ~ ~e ~rms of ~s Sec~iF
a~e -~crlbed above, ~:ader m~y,
~1 i~ur~ce polici~ md ren~a~ ~ha~ bc acceptable
all t I
r~cei~ts of paid ~re~s ~d r~wal ~o~ces, Upon loss, Moai~tor s~ live ~a~e aofl~ to &e ~c~ ~i~r
and ]Lender.' 1
Lender may m~e proof of lo~s if not made ~diatcly by Mortgagor.
UMc;ss o~erwise agr~d M writ~, all Msur~ce pro~s sh~l be applied to '~e restoration Or repa~ Of ~C PrOpcr~ Or t°
Sccu.r~d Debt, whc~cr or not ~en duc, at Lender's epoch. ~y application of pr°ceOs to principal shall not extend or
01 75350 9 4 4
auiuiuiSrpone the due date of the scheduled payment act change the amount of any payment. Any exce~s will be aid to the
ortgagor. If ~c Propcr~ is acquir~ by Lender, Mortga~or s righ~ tO any [n~ce ~o"~ .... ~ ....... P~-.
19. ESCROW FOR T~S A~ INS~NCE. U~ess o~r~e provided ~ a ~atate agreement, Mortgagor wis not bc
requ~,fl to pay m L~nder ~nds for ~xeS ~d ~a~c~ in ~scrow.
20. FIN~CI~ ~PORTS ~D ADD~TION~ DOCk. S. Mortgago~r will provide ~ Lender upon request, ~y
~1 s~ment or ~for~fion Le~er may deem reasonably n~ess~. Mo~tga~or ag~es to si~n, deliver, ~ ffl~ ~y
~d~tk,~ doc~nts or c~e~ons ~at ~det may cons~r neccss~ to perfect, con~uc, ~d preserve
obliga~3ons ~der ~s 5ec~i~ Im~t a~ L~der'~ lien stares on ~e Prope~.
21. JOI~? ~ I~IVIDU~ LIABILITY~ CO-SIG~RS; SUCCESSORS AND ~SIGNS BO~D, All duties under
$ec~i:W ~s~en~ ~e jo~ ~d ~dividuM. If Moggagor ~i~ ~h Sccuri~ Iaa~ment but doe~ not ~iga aa evide,nce of debt,
Mo~gagor do~ so o~y ~ me,gage Mo~gagor's ~rest ~ ~e Pmpe~y ~ s~c payment of ~e Secured Debt ~d
Mo~gagor doo~ not agree ~ br porson~y liable on &e S~c~ Debt. If ~is Sccuri~ ~st~t secu~'es a g~aaw
~e:r ~d. M0ggagor, Moggagor agtee~ to waiv~ ~y rights ~at may prewmt Lender from br~g~g ~y action or
agama Moggagor or ~y p~W ~debted u~er &~ ob~ga~on. ~es~ ~ghts may ~clud~, bat are not ~i~ to, ~y
~ti~eficiency :or one-action laws. Moggagor agrees &at Leader a~ ~y pa~ to ~ia Sec~i~ hs;mment may extend, modi~
o? ~ee ~y ch~g~ ~ ~e ~ms of &is S~ri~ hstm~nt or any ~vid~o of debt wi&out Mortgager's corn;em. Such 'a
~; will not rel~e Moggagor ~rom ~e terms of ~is Sec~i~ ~meat. ~e duti:s ~ benefits of this Securi~
Im~a~t shall b~ ~ ~vfit ~ ~uccesson ~d assi~s of Moggagor ~d Lender.
22. APPLICABLE LAW; SE~BILI~; INTE~TATiON. ~is SccuriW Inst~ent is govern~ by ~ laws of
j~isdiction ~ which ~der is loosed, except to ~o ~nt o~:rw~ required by ~ law~ Of ~ jur~dictioix w~re
ProperW k locat~, ~ia Sec~iW Imtmmvnt is complete and ~Ily ~gmt~. This Scc~iW hs~eat may not be a~nded or
modifi~ by o~1 agreement. Any section ~ ~is SecuriW ~s~cnt, a~c~ents, or ~y agr~cnt mla~ to ~e Sccur~
Debt that confficts wi~ applicable law Will ~t bc effective, ~ess ~at law expressly or ~pliedly pemita ~c variatiom by
wrigen agree~nt. If ~y secfon of ~is SccuriW Instrument ca~ot be enforced according, to its terms, ~at sec;don w~l be
sevet~a ~d will not affect ~e enf0rc~biliW of &e rema~er et ~ Security InsW~t. ~cnever used, ~e ~gfl~ shall
~clude ~e pl~r~ ~ ~e plur~ ~e s~gular. ~o ~pfions ~ he~g~ of ~e sectio~ of ~i~ Sccuri~ I~st~a~t ~e for
conw~d~ce o~y ~d are not m bo used to inte~re; or define ~e ~s of ~is Securi~ Inst~ent. T~e is of ~.e essenc,
als Sec~iW
23. NOTICE. UMess o~ise required by law, ~y notice $h~ bc given by d~liv~tMg it or by ~flMg it by first class ~il
~ appropr~' p~'s address oa pag~ 1 of ~t~ S¢cuti~ Imt~cnt, o~ to ~y o~cr address dcsigna~d ~ wring, Notice t0
o~ mo~gagor will be deemed to be no~c¢ to ~1 mo~gagorL
~. WAIVERS. ~c~t to ~c oxt~t prohibited by law, Mortgagor waives ~y right regard~g ~ marshalling of liens ~d assets
~ M1 homeste~ ~ption fights relat~g ~ ~ ProperS,
25. OT~,R T~S. If ch~ck~, ~c followzg ~c appli~blc ~ ~is S¢curi~
~ Line of Cre~t. ~e Secured Debt ~cludes a revolv~g 1Me of or. it lgovision. Al~ough ~e Secured Debt ~y
reduced m a ~rO bal~c~, ~is Securiw Inst~ent will re.ia in efl~ct until released.
~ Comt~etion Loan, ~is S~uri~ hs~ent secure~ ~ obligation inc.'red for ~e Cons~ction of an imp:ovemem on
· c Prop.~,
~ ~mure FI1Mg. Moggagor gr=ta m Lender a securi~ ~terest M all goods ~at Mortgagor owns now or ia ~ Mture
~ ~at. ~ or will b¢~m~ fix~cs mlat~ to ~¢ Prope~. ~is SccuriW Inst~cnt $u~ccs ~ a F~g statement
~d ~y, carbon, pho~graphie or o~¢r r~roduction my bc filed of reed< for pu~ose~ of Articl~ 9 of thc UMform
Co~ci~ C~,
~ ~d~.,%c coven=u ~d agreements of each of ~c rid~s chcck~ b~low arc Zcorporat~ into ~ supplement ~
~e~ ~e te~s of ~is Sec~iW Inst~ent. [Check ~1 applicable boxes]
~ CondomMium ~der ~ Pia=~ Unit Developmeat ~der ~ O~e:r
~ Ad~fion~ Terms, ' .......................... ~ ............................
'SIGNATL[RES: By signing below, Mortgagor agrees to the terms anal covenants contained ia this Security Instrument anti in
attaehm~nt~;, Mortgagor also acknowledges receipt of a cOpy of this Security Instrument on the date stated on page 1,
(Date) (,qig~tute) KA8£~ 'B, Sr~IV['L'~ " (Date)
ACKNOW LEDGIVfENT:
STATE OF ~)'P.¥!.~.
............................... COUNTY OF -
~'~*~,,,0 This instrumeat Was acknowledged ......... . ........... da,y of
befor~ me th~s IfiTH j.
My commission expixes: 9/12/03 ......................... .~.'~
,:',:
(Not~-y l~bli:) ""
~1004 Paake~,s gya[erne, Ine,. ~t. Cloud. MN (1,80t~3g?.23411 F3rm RE-MT0-WY 11/15/g4