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Home My WebLink About901835E-2599 REAL ESTATE MOR TG-' 'IGE YTI/X &IORTGAGE ix granted by XAL T RIFER HOMES, LLC, a tVyoming ' ' Limited Liability Congutny; ~i.t'~IORTG/IGOR. to 7HARLEMONT FARMS, LLC r~ MORTGAGEE, }FITNENSETH: u~t~ Mortgagor, for good and valuable considerations, the receipt of which is hereby acknowlc,l&.ed, does hereby GRANT; BARf?ALU, SELL, CONFEY 1ND ~ffA~MNT} and fio-ther releases and waives all rights under and by virtae rf the' homcYtcad exemption lmm' cf Igyomiag, unto the Mortgage< ds successors and ~signs, all of the following described real property, to wit: ~ ~/ Lot 200 of Nordic Ranches, Divisio. No. 13, Li. coln CoultO, II?vomi. g, according to the recorded plat thereof ~D recorded i. the Lincoln Cou,ty Recorder's office. TOGETHER ~177~ any and all improvements, water and ditch rights, rights of ~t,.l',¥, easements, privileges, ventilating, leaetneuts. hereditamentx and aRRurtenances thereunto belonging or in anywise appertainiag, mm' or herec¢ier used on said laad or belongi~g to said ~ortgagor, and any reversion, remaimle~; rents, issues and prc~ts thereoj; he. rolm!tier referred to c~ the "t'roperty ". !'Isis gra.t is' httended as a JlIortgage, a Fixtttre Filhtg atul Security Interest for the l'arl, ose of ,gec.riag: 1. Performance of each agreement cf ~lortgagor herein containe4 each agre?nent and cov~-nan/contained in the loan documents associatedwith his mortgag< and any extension, renewal, mod~cation and/or amendment thbreof "Loa~ documents" shall inclade the above dgscribed ~ot< this uortgag< and any other documents or inxtrumentssigned in connection with this loan. 2. Payment cf the indebtedness evidenced by a promissory note of even date herewith, and a;()~ exten.¥ion or renewal lhereo~' i~ tl~e priuccal sum f ONE HUNDRED FORTY TIIOUSAND~ DOLLARS ($140,000. 00), thefinal paymeat qfprinccal and interest d, ereo~ ~'not sooner ,at4 to be finalO~ due and pRyable August ~ 2005. 3. Payment of all such fi~rthersums ax ma~hereafierbe loaned or advanced by the Mortgageefbr any purpose/and a~O, notes, dr~s ami/or other nstruments representingsuch further loa~s, advances or expenditurexshall be optional ~vith thc Mortgagee, and shall become due and payable no at~r than the final maturiO, date of said note secured hereby; and provided~rther, that it is the erpress intention of the parties to this A[ortgage that t shall stand r~ continuing security until all such loans, advances or expenditures together with interest thereon, are paid in./idl. 1. 7~ protect the security of this ~lortgage, ~Iortgagor H,arrants; covenants attd agrees: 1. The property is free from all encumbrances, except ca' may be dexcribed herein, and t/tat Mortgagor shall warra~t and defend the same ~,rever tgainxt the lav~id claims and demands of all persons whomsoever, and this covenant xha/[ ~iot be extingaished~g foreclosureor other tranafers. 2. ]b keep all building~ and other improvements now or herer~?~r existing in good comh't/on and r~pait;' to not remove or demolish any b,ildiag ~r other intprovement thereon; to complete or restorepromptly and in a good workmansh/p/ikc manner any improvement which may be coils[rttcte~, lamaged or destroyed thereon; to pay when &~e all claina' for labor performed and ntater/a/s./ia'nished thereto or thereJbr; to comply with all laws ~ff~cting xaid property or requiring any alterations or improvements to be made thereoa, t~ aot conmtit or permit waste lhereof or thergo~t; lo uaintain, cultivate, irrigate, fertilize, fimdgate, prune, all in a good and huxbandrylike mam~:~; the land and improvements thereto; to ~iot change or ,ermit change ill lhe use of the property; to not do anything which would reduce the va/tic t~/' t/te proper(v; and do all other acts which Ji'om the :haracter or use of said property may be rec~onably necessary, the specie enumerations herei~ not exclading the general. 3. To provide, maintain and deliver~re insarance satia~tctory and with loss payable t,, :llortgagee; to maintain liabiliO, inxnrattce; to pc(V all ,remiums and charges on all Stlch insurance when &re; a~M to provide Mortgagee sati,J;.,toO~cvidence of such insurance npon rgquesl ~Tte amount :ollected under any fire or other insurance policy may, at i~(ortgagee ~ option and cletermi.alio~, be applied upon any imlgbtedaess secured t~ereby in uch order r~ blortgagee determines, be relec~ed to Mortgagor ia whole or part, or any coml,i~ation thererf Sach application or reler~e ,'hall trot ,ure or waive any default or notice of deJbult hereunder or invalidate any act done purst.mt to such notice. 4. To pay before delinq.ency all tr~es, a¥,'esxments, or rents cCfecting said properO,,' t,, PtO' whea due all encumbra~ces, chargss aad liens, with nterexC c~/kcting said property which are or may appear to be prior or superior hereto; and to pay all costs, ~kes and eapeaxe,s' of this blortgage ami ,xsociated loan documents. 5. lb pay inanediate0 and withoat demand all sums e2pended by Mortgagee parsua~l to the provisions hereo~ with interco'th-om date ~f 'xpenditur< at a rate equal to the interest rate payable under the promissory note described above or m,elve percent (12%) per anttum, whichever is [rester. 6. To appear in and defend any action or proceedingparporting to c~ect the securiO, hereof or the rights or powers of ~/ortgagee; to proc on lemand, all costs and expenses, including without limitation, cost of title evidenc< reaso~able attoD~ey 2'ibex, advance,', ar.l/or costs, paid or ncurred by }tortgagee to protect or et~orce its rights under bankruptcy, appellate procecdi.gs or otherwis< and all such coals and expe~t~'es shall ~ecome a part of the indebtedness secured ~y this mortgage. 7. Should AIortgagor fail to make any payment or to do any act c~' herein provided, Mortgagee, bat without obligation xo to do arm without ~otice ~r denmnd apon &Iortgagor and witho.t rele~ing gJortgagor from any obligation herc~¢; at.y: make or do the same in sach manner and to s.ch :stent c~ ~[ortgagee may deem necessat7 to protect the security hereo~ a~ortgagee bei~g ..thorized to enter upon said properO; fi;r such purposes; ~pear in and defend any action or proceedingpurporting to ~bct the security hereof or thc rights or powers of ~lortgagee; pay. pm'chase, contest ~r compromise arty encumbranc< charge or lien which in the judgme~tt of ~/ortgagee atq)ca~:v to be prior or superior hereto; and irt exercisi~tg any uch powers or in er~orcing this' ~lortgage by judicial forecla~'ure or othemvise, pay the ttece.vxaO, e.xpenses, costs and reavonable attoraey tvj~es. 8. To comply with all laws, ordinances, regulations, covenants, conditions and restri~:tiotts q~'bcting the Property and its rise, i~,ci.diag withoul imitation all environmental laws; not m use or permit the use of the Propertyfbr a~D, uahmJ}d or objectionable purpose; to rems,6, any :nvironmental contamination or Violation of environmental laws that may occar or be discovered ia the./itt, re; to alloit, 3,lortgagee access to the 5'operO~ to inspect its condition and to test and monitor fi : compliance with applicable hm,s &my ia,s~ections or test; made by g,[ortgagee shall be br ~lortgagee 5 purpoxex only and shall not be construed to create any responxibilityor Ii, al,iiiO, on the purt of ~/ortgagee to Mortgagor or lo any ,ther perso¢; to forward copies ¢'any notices receivedfi.om any environmental agencie¥ n, Mortgagee; and to li~denla~y and hold Mortgagee, his 'mployees, agents and his successors and c~xign& harmlexs./~om and against any envirr..~c~t.l claims of any kin4 a~M all cost~' and expe~tse ; ncurred in connection therewith, includin& without limitation, attorney's fees. 9. Any mvard of damages in connection with any condemnation for public use of or D~/u(l' to said property br any ~arl lherer~' is here&p a,~'sig~ed md shall be paid to N[ortgagee vvho may apply or reler~'esuch moaies receivedby him in the same maimer trod with the same E[/kct as above ,rovided for disposition of proceem of_fire or other ins~,~a,ce. lO. The failure of Mortgagee to exercise any right or option provided herein at any lira< ,hall sot preclude ~lortgagee fi-ont exercixing a~o~ of such ights at any other time; by accepting payment of any sum secured hereby t~er its due &tie, Mortgagee does not ~vaive his right eilher to rcq.ire ,rompt flayment when due ¢'all other sums so secured or to declare defaultJbr ~ilure sr; /o ps.v; all rights cor~erred on Mortgagee are cmmdative md additional to any rights cot~krred by law; and ~ any provision is foand to be invalid or une~¢brceabl< such invalidi(y or m~e~¢brceabtliO,.~,hall Real Estate l~fortgage (1/99) - Page l mt/Nordic~OOmtg 11. As additional security, A/[ortgagor hereby gives to and confers upon A~[ortga&,~L, the right, power and authoriOc d~tring il~e continuance mortgage, to collect the ren[& i~$lie~ and profits of said property ~z¥ th~ become due a~td p~o,able; Reserving however unto 3tortgagot; prior to a~O, default by Mortgagor in payment of any indebtedness secured hereby or in perJbrmance q/' uny agreement herettnde~; the right to collect and retain such rent& issues and profits. Upon any such deJhult, gfortgagee may at any time ~vilh~,ttt notice, either in person, t~l, ageat ur co,rt appointed receiver, and without regard m the adeq~acy of any security for the indebtedness here/tv .ver:ttred, enter uffon attd take possession of said properO, or any part thereof in his own nanie sue for or otherwise collect such rent~, issues and t,'r~it~', inclading those pa5't ~hte aml ~tJqmi,4 ami apply the same, less costs and expenses of operation and collection, including recgonable attorn,xy '.¥./~ex, tq~on any indebtedness secured hereby, attd in such order as' Mortgagee may determine. The entering w~on and taking possession of said lv'W>er05 the collection of'such rents, ix,vnes' and prt¢ils and the application thereof em c~bresai4 shall not cure or ~aive any default hereander or invalidate any act clone pursurmt to any such deJhult notice. 12. DUE ON SALE: 7he indebtedness and obligations secured by this mortgage is personal to the 3[ortgagor and is not a~'signablg by Mortgagor. Mortgagee btm relied upon the credit of 3[ortgagor, the interest of ~[ortgagor in the ]'rW~crO, and the financial market conditions then ~xisting ~vhen making this loan. ]f A4ortgagor transfers or contracts to transfer, title to or possessiott (~/; ,1l or part of the Proper05 or any equitable therein, whether by dee4 contract for dee4 cwsignment, lecaeJbr a term in excel's (g/'une year; lease with an option to p,rcha~e, option to or similar agreemenU or ~ the ownership of any corporation or partnership, owning all or any portion of the ProperO, shall be changed either voluntary or involuntary sale or transfer or by operation of law, ~lortgagee may declare ,¥/I .~'ums due *tnder arty narc securi(F agreement, ami&: loan documents c~sociated herewith, immediately due and payable. Noncompliance with this covenant shall constintte and be a deJhult obligation which shall entitle 3[ortgagee to eJfectuate any and all remediesprovided. 13. 22tne is of the essence and a material part of this agreement. In the event oJ' d~/}adt, at 3]ortgagee D option, the entire indebt~cbiess xecta.ed hereby shall forthwith become due and payable and bear interest at the rate of TWELI T I'ERC'ENT (12%) per annum; Mortgagee shall bare the right to forecla~e the lien of this mortgag< to have a receiver appointed in any coart l,rUct:eding, to collect any rents, ixs,e~' and profits'f )'om the Property and apply them against the indebtedness hereby secured; to sell the ProperO, at./i~reclosureen tnrmse, or ax one lot or parcel at the option of 3[ortgage< and to exercise any rights and remedies available under the Un,btm Cotmnc'i'ciol Code Jbr the State in which the proper(~ is locate~4' and recn'onable notice ~ required by such Code shall be five (5) days. 14. The M~rtgagee may at any tim~ with~ut n~ti~ re~ec~e~rti~ns ~f ~aid m~rtgaged premi~es~m the ~ien ~f ~his m~rtgag~ without r~/~cting the personal liability of any person for the payment of the said indebtedness or the li='n r~/'this mortgage upon the remainder of the mortgaged premises for the fidl amount of said indebtedness then remaining unpaid. 15. Mortgagor and each of them join in this instrument for the purpose pf subjecting each cf their right, title and interest, ~*attlc in the Property, whether of record or otherwise and including any right to possession, to the lien of this mortgage. 16. This mortgage, all loan documents and the note(s) secured hereby shall be govcrnc:d aad construed according to the laws c~' the Stat~ of Wyoming. In the event of defimlt, Mortgagor grants to Mortgagee a Power of Sale to./brech)se on and sell said properiy at public rttlCtiott pursuant to Wyoming Statute Section 34-4-]0] et:seq. 17. 711ix mortgage applies to, inured)the benefit of and binds all parties hereto, their hei~:~, devisees, personal t'epresentatives, successors ami holder and owner (~signx. 77~e term ~[orgagee xha~.~ . of the note secured ht:reb),, or ¢'the aote hrn' beer, pledged, the pledgee therec~:' this ~[ortgage, wherever the con~requt~&~e n~asculine gender includes the f~tniniae: aad/or neuter, aad the sing~dar number inclades the plural. 0 Dated: ~ -- .. Lr~ryRein]~ ~ ---- ~ 1 STATE OF IDAHO ) ss COUNTY QF BONNEVILLE ) / / Lar~ Rebd~art and Joseph BMloff known or ident~'ed to me to be the Managerx of ~T J~FER ttOMES, LLC and 3EANNEE NANGLE .... ' :'"'~ "" '~ :: ml/~Vordic2OOmtg ~}I~ ,; : . : . ,; .,,:,.,.;,,