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Home My WebLink About901455901[ 55 AFTER RECORDING'RETURN TO: WashingtonFederalSavings 500 lq Capital Avenue Idaho Falls ID 83402 Attentiou: Ronna Lee RECEIVED Lll',lOOtJ'4 COUNTY OLERK Loan Number 044 209 2915106 Title Company Rocky Mountain Order Number A5770 SHORT FORM MORTGAGE (WITH POWER OF SALE), SECURITY AGREEMENT AND FIXTURE FILING WITII ASSIGNMENT OF LEASES, RENTS AND ACCOUNTS THIS MORTGAGE ("Security Instrunrent") is made July 26, 2004 BETWEEN ' Salt River ttomes, LLC, a Wyoming Limited Liability Company ("Borrower"), whose address is P 0 Box 3698 Alpine WY 83128 and WASHINGTON FEDERAL SAVINGS, a United States Corporation, as Mortgagee 500 lq Capital Avenue Idaho Fails ID 83402 as iViortgagor ("Lender"), whose address is Borrower hereby irrevocably mortgages, warrants, grants, bargains, sells and conveys to Lender and its successors arm assigns, with power of sale and with right of entry and possession as provided herein and by Wyoming law, all Borrower's estate, right, title, interest, claim and demand, now owned or hereafter acquired, in and to the lbllowing described property in Lincoln County, Wyoming (the "Property", which term shall include all or any part of the Property, any improvements thereon and all the property described in Paragraph 2 of the Master Form Mortgage hereinathter referred to): Lot 176 of Nordic Ranches Division No 12 Lincoln County Wyoming as described on the official plat thereof. which has the address of 1653 Saddle Drive Etna WY 83118 TOGETttER WITH all the tenements, hereditaments and appurtcmmces, now or hereafter thereunto belonging or in any way appertaining, leases and other agreements for the use and occupancy pertaining thereto, and the rents, issues and profits thereof and all other property or rights of any kind or nature whatsoever further set forth iu the Master Form Mortgage hereinafter rel~rred to, SUBJECT, HOWEVER, to the right, power and authority hereinafter givcu to and conferred upon Lender 1o collect and apply such rents, issues and profits. This Security Instrument shall constitute a security agreement uudcr tile 'Uniform Commercial Code of Wyoming between Borrower as debtor and Lender as secured party, Borrower grants a security interest to Lender in any of the Property which is personal property and also grtmts a security interest in the property described 'in Paragraph 3 of the Master Form Mortgage hereinafter referred to, now owned or hereafter acquired by Borrower (the Noperty, as defined above, and the property described in said Paragraph 3 are hereafter collectively referred to as the "Collateral"). THIS SECURITY iNSTRUMENT IS FOR THE PURPOSE OF SECURING the tbllowing: (a) Payment of the sum of *~rOne Hundred Thirty Six Thousand and ($. *~36,000~~0'*~ ), with imerest thereon according [o the ~erms of a pronfissory note of eveu date hcrewidh l)ayab~ Lender or order ~d made by Borrower (the "Note", which term Shall include all notes evidencing the indebtedness secured be Secnrity Instrument, inch, ding ~1 renewals, modifications or extensions thereol); (Page 1 of 3) tO175-f (WY} 03/08196 b) Payment of any further sums advanced or loaned by Lender to Borrower, or any of its successors or assigns, if (1) the Note or other writing evidencing the future advance or lo,an specifically statt:s that it is secured by this Security Instrt~ment, or (2) the advm~ce, including costs and expenses incurred by Lender, is made pt~rsumlt to this Security Instrmnent or any other documents executed 'by Borrower evidencing, securing, or relating to the Note and/or the Collateral, whether executed prior to, contemporaneously with, or subsequent to this Security Instrument (this Security Instrmnent, the Note and such other documents, including any construction loan, land loan or other loan agreement, are hereinafter collectively referred to as the "l~oan Documents"), together with interest thereon at the rate set forth in the Note unless otherwise specified in the Loan Documents or agreed to in writing; c) Performance of each agreement, term and condition set forth or incorporated by reference in the l_oan Documems, including without limitation the loan agreement of even date herewith, xvl~icl'l are incorporated herein by reference or contained herein. THE MATURITY DATE OF TItESE SECURED OBLIGATIONS, AS CONTAINED IN 'FILE LOAN DOCUMENTS, INCLUDING THE NOTE, IS July 26, 2006 By executing and delivering this Secm'ity Instrument and the Note secured hereby, the parties agree that all provisions of ParagraPhs 1 through 69 inclusive of the Master Form Mortgage hereinafter referred to, except such paragraphs as are specifically excluded or modified hereiu, are hereby incorporated herein by reference and nmde an integral part hereof for all purposes the same as if set tbrth herein at length, and the Borrower hereby n-rakes said covenants and agrees to fully perform all of said provisions: The Master Form Mortgage above referred to was recorded on the dates below shown, iu the Official Records of the offices of' tile Connty Clerks of the following counties in the State of Wyoming according to the enumerated recordation designations appearing below after the name of each county, to wit: COUNTY BOOK OR VOLUME PAGE NO. RECORDING NO. DATE OF RECORDING LINCOLN 374PR 644-655 809964 October 16, 1995 TETON 310 1174-1185 0404875 October 11, 1995 A copy of such Master Form Mortgage has .been furnished to the person executing this Security iustruu~eut, attd by executing this Security Instrument the Borrower acknowledges having received such Master Form Mortgage. The Property which is the subject of this Security Instntment is not used principally or primarily for agricttltural or farming purposes. The nndersigned Borrower requests that a copy of any Notice of Default and of any Notice of Sale herennder, as required by Wyoming law for the foreclosure of a mortgage with power of sale, be mailed to Borrower at Borrower's address as hereinabove set forth. Borrower agrees to obtain all insurance required from time to time by Lender and as elsewhere provided in lite Loan Documents, including flood insurance. If Borrower fails to maintain such insm-ance satisfactory to tile Lender, Lender may make the payment on behalf of the Borrower and any sums expended shall be added to principal and bear interest at the rate provided iu the Note. If the box-preceding any of the following statements contains an "X", that statement is a part of tbis security h'~strument. If the box is no__~t so checked, the corresponding statement is not part of this Security Instrument. Paragraph 49 of the Master Form Mortgage (which refers to the existence, if any, of an adjustable rate feature in the Note) is hereby deleted. The Note secured hereby evidences a construction loan or land loan but is not a combination Note. Paragraph 53 of the Master Form Mortgage is hereby deleted. The Note secured hereby is a combination coustruction lomVpermauenl loan Note. Refer to paragraph 53 of the Master Form Mortgage. The Property or a part thereof is a Condominium. Refer to paragraph 50 of the/vlaster Forrn Mortgage. A fee owner and a leasehold owner of the Property, or a portion thcrcot', bare executed this Security Iustrumeut. Refer to paragraph 51 of the Master Form Mortgage The Property or a part thereof is a leasehold estate. Refer to paragraph 52 of the Master Form Mortgage. See also Schedule "A" of this Short Form Mortgage, attached hereto aud incorporated herein by this reference. (Page 2 of 3) WITNESS the hand(s) and seal(s) of the Borrower, and each of them il' more ti'mn one far first above written. STATE OF ) ) SS. COUNTY OF ) t certify that I know or have satisfactory evidence that [Name(s) of person(s)] is/are the person(s) who appeared before me, mid said person(s) acknowh:dged that he/she/they) signed this inslrmnent and acknowledged it to be (his/her/their) flee and voluntary act for the uses and purl)OScS mentioned in the inslrument. Dated: (Seal or Slamp) (Signature) Notary Public in and for tl-~e Stale of residing at My commission expires STATE OF IDAttO ) COUNTY OF BONNEVILLE ) I certify that l know or have satisfactory evidence that Laurence B Reinhart and Joseph Belloff [Name(s) of person(s)] is/are the person(s) who appeared before me, and said person(s) acMlowlcdgcd that (he/she/they) signed this instrumeat, on oath stated that (he/she/they) was/were authorized to execute the instrmnent and ackno\vledged it as the Managers of (Type of Authority, e.g., Officer, Trustee) Salt River Homes, LLC, a Wyoming Limited Liability Company (Name of the Party on Behalf of .W. hom--the lnstruu,ent was Execfisfl5 ~ j -' be the free and vohmtary ac, of such Party fur the uses anCt~rposes mcntioucd'~the ins[r~ (Seal or Stmnp) ~ ~ :' '- ~ % ~e:' %OTARp ,.¢~ Notary Pubhc inroad for the Slate of Idaho ~ ~ ~*~ ~ E rcsidmgat Idaho Falls ~ ~'~ U~L[O .... ~ My commission expires 10-12-06 ~"-,,,,¢~ ~. ....... ~ ~o¢ -%? ~-~ (Page $ of 3) LO175-T IWYJ