HomeMy WebLinkAbout904665 RECEIVED 11/17/2004 at 4:16 PM
RECEIVING # 904665
BOOK: 572 PAGE: 865
JEANNE WAGNER
LINCOLN COUNTY CLERK. KEMMERER. WY
Space Above This Line For Recording Data
MORTGAGE
DATE AND PARTIES. The date of this Mortgage (Security Instrument) is NOVEMBER 12, 2004. The parties and
their addresses are:
MORTGAGOR:
SHAWN WEERHEIM
P O BOX 1103
AFTON, Wyoming 83110
SHIRLEY WEERHEIM
P O BOX 1103
AFTON, Wyoming 83110
LENDER:
FIRST NATIONAL BANK - WEST
Organized and existing under the laws of the United States of America
314 S Washington
PO Box 1620
Afton, Wyoming 83110
TIN: 83-0162601
1. CONVEYANCE. For good and valuable consider~dion, the receipt and sufficiency of which is acknowledged, and
to secure the Secured Debts and Mortgagor's p~rformance under this Security Instrument, Mortgagor grants,
bargains, conveys, mortgages and warrants to Lender, with the power of sale, the following described property:
SEE ATTACHED SCHEDULE "C"
The property is located in LINCOLN County at 279 HWY 236, AFTON, Wyoming 83110.
Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and
replacements that may now, or at any time in the future, be part of the real estate described (all referred to as
Property). This Security Instrument will remain in effect until the Secured Debts and all underlying agreements
have been terminated in writing by Lender.
2. MAXIMUM OBLIGATION LIMIT. The total princil)al amount secured by this Security Instrument at any one time
will not exceed $60,769.71. This limitation of am(~nt does not include interest and other fees and charges validly
made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms
of this Security Instrument to protect Lender's security and to perform any of the covenants contained in this
Security Instrument.
3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
replacements. A promissory note or other a,(lreement, No. 64003188, dated November 12, 2004, from
Mortgagor to Lender, with a loan amount of $60,769.71.
B. All Debts. All present and future debts from Mortgagor to Lender, even if this Security Instrument is not
specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
commitment to make additional or future loans or advances. Any such commitment must be in writing. In the
event that Lender fails to provide any required notice of the right of rescission, Lender waives any subsequent
security interest in the Mortgagor's principal dwelling that is created by this Security Instrument. This Security
Instrument will not secure any debt for which a non-possessory, non-purchase money security interest is
created in "household goods" in connection with a "consumer loan," as those terms are defined by federal law
governing unfair and deceptive credit practices. This Security Instrument will not secure any debt for which a
SHAWN WEERHEIM
Wyoming Mortgage
WY/4brandiemOO8151OOOO4558020111004Y
~1996 Bankers Systems, Inc., St. Cloud, MN ~"
Init~
Page .1 ~
Security interest is created in "margin stock" and Lender does not obtain a "statement of purpose," as defined
and required by federal law governing securities.
C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
Instrument.
4. PAYMENTS. Mortgagor agrees that all payments under the Secured Debts will be paid when due and in
accordance with the terms of the Secured Debts and this Security Instrument.
5. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other
lien document that created a prior security interest ~ 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 receives from the holder.
C. Not to allow any modification or extension of, nor to request any future advances under any note or
agreement secured by the lien document without Lender's prior written consent.
6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessrnents, liens, encumbrances, lease payments,
ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to
provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor's
payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security
Instrument. Mortgagor agrees to .assign to Lend~;r, as requested by Lender, any rights, claims or defenses
Mortgagor may have against parties who supply labor or materials to maintain or improve the Property.
7. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt
to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance,
transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law
(12 C.F.R. 591), as applicable.
8. WARRANTIES AND REPRESENTATIONS. Mortgagor has the right and authority to enter into this Security
Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
Mortgagor or to which Mortgagor is a party.
9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition
and make all repairs that are reasonably necessary. Mortgagor will not commit or allow any waste, impairment, or
deterioration of the Property. Mortgagor will keel) the Property free of noxious weeds and grasses. Mortgagor
agrees that the nature of the occupancy and usc will not substantially change without Lender's prior written
consent. Mortgagor will not permit any change in a~y license, restrictive covenant or easement without Lender's
prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against
Mortgagor, and of any loss or damage to the Property.
Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of
inspecting the Property. Lender will give Mortgagor notice at the time of or before an inspection specifying a
reasonable purpose for the inspection. Any inspection of the Property will be entirely for Lender's benefit and
Mortgagor will in no way rely on Lender's inspection.
10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duty or any of the covenants contained in this
Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor 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 will not create an obligation to perform, and Lender's failure to perform will not preclude
Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction
on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to
protect Lender's security interest in the Property, including completion of the construction.
11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor assigns, grants, bargains, conveys, mortgages and
warrants to Lender as additional security all the right, title and interest in the following (Property): existing or
future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and
occupancy of the Property, including any extensions, renewals, modifications or replacements (Leases); and rents,
issues and profits (Rents). In the event any item listed as Leases or Rents is determined to be personal property,
this Assignment will also be regarded as a security agreement. Mortgagor will promptly provide Lender with copies
of the Leases and will certify these Leases are true and correct copies. The existing Leases will be provided on
execution of the Assignment, and all future Leases and any other information with respect to these Leases will be
provided immediately after they are executed. Mortgagor may collect, receive, enjoy and use the Rents so long as
Mortgagor is not in default. Upon default, Mortgagor will receive any Rents in trust for Lender and Mortgagor will
not commingle the Rents with any other funds. Mortgagor agrees that this Security Instrument is immediately
effective between Mortgagor and Lender. This Security Instrument will remain effective during any statutory
redemption period until the Secured Debts are satisfied. As long as this Assignment is in effect, Mortgagor
warrants and represents that no default exists under the Leases, and the parties subject to the Leases have not
violated any applicable law on leases, licenses and landlords and tenants.
12. DEFAULT. Mortgagor will be in default if any of the following occur:
A. Payments. Mortgagor fails to make a payment in full when due.
B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf
of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the
voluntary or involuntary termination of existence by, or the commencement of any proceeding under any
present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or
against Mortgagor, Borrower, or any co-signer, endorser, surety or guarantor of this Security Instrument or any
other obligations Borrower has with Lender.
C. Death or Incompetency. Mortgagor dies or is declared legally incompetent.
D. Failure to Perform. Mortgagor fails to perform any condition or to keep any promise or covenant of this
Security Instrument.
SHAWN WEERHEIM
Wyoming Mortgage
WY/4brandiemO0815100004558020111004Y
<~1996 l~ankers Systems, inc., St. Cloud, MN
' -u86,
E. Other Documents. A default occurs under the terms of any other transaction document.
F. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has with Lender.
G. Misrepresentation. Mortgagor makes any verbal or written statement or provides any financial information
that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
H. Judgment. Mortgagor fails to satisfy or appeal any judgment against Mortgagor.
I. Forfeiture. The Property is used in a manner ar for a purpose that threatens confiscation by a legal authority.
J. Name Change. Mortgagor changes Mortgagor's name or assumes an additional name without notifying
Lender before making such a change.
K. Property Transfer. Mortgagor transfers all or a substantial part of Mortgagor's money or property. This
condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
DUE ON SALE section.
L. Property Value. The value of the Property declines or is impaired.
M. Insecurity. Lender reasonably believes that Lender is insecure.
13. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument
evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
amounts advanced on Mortgagor's behalf will be immediately due and may be added to the balance owing under
the Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available
on Mortgagor's default.
Subject to any right to cure, required time schedul(~s or any other notice rights Mortgagor may have under federal
and state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts
immediately due and foreclose this Security Instrtm~ent in a manner provided by law upon the occurrence of a
default or anytime thereafter.
Upon any sale of the Property, Lender will make and deliver a special or limited warranty deed that conveys the
property sold to the purchaser or purchasers. Un(ter this special or limited warranty deed, Lender will covenant
that Lender has not caused or allowed a lien or an encumbrance to burden the Property and that Lender will
specially warrant and defend the Property's title of the purchaser or purchasers at the sale against all lawful claims
and demand of all persons claiming by, through or under Lender. The recitals in any deed of conveyance will be
prima facie evidence of the facts set forth therein.
All remedies are distinct, cumulative and not exclu:dve, and the Lender is entitled to all remedies provided at law or
equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial payment
on the Secured Debts after the balance is due or is accelerated or after foreclosure proceedings are filed will not
constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising
any remedy, Lender does not waive Lender's right to later consider the event a default if it continues or happens
again.
14. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
Mortgagor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies
under this Security Instrument. Mortgagor agrees to pay expenses for Lender to inspect and preserve the Property
and for any recordation costs of releasing the Property from this Security Instrument. Expenses include, but are
not limited to, reasonable attorneys' fees after default and referral to an attorney not a salaried employee of the
Lender. These expenses are due and payable immediately. If not paid immediately, these expenses will bear
interest from the date of payment until paid in full at the highest interest rate in effect as provided for in the terms
of the Secured Debts. To the extent permitted by the United States Bankruptcy Code, Mortgagor agrees to pay
the reasonable attorneys' fees Lender incurs to collect the Secured Debts as awarded by any court exercising
jurisdiction under the Bankruptcy Code.
15. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA,
42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney
general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous
substance; and (2) Hazardous Substance means any toxic,' radioactive or hazardous material, waste, pollutant or
contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public
health, safety, welfare or environment. The term includes, without limitation, any substances defined as
"hazardous material," "toxiC substance," "hazardous waste," "hazardous substance," or "regulated substance"
under any Environmental Law.
Mortgagor represents, warrants and agrees that:
A. Except as previously disclosed and acknowled!ted in writing to Lender, no Hazardous Substance is or will be
located, stored or released on or in the Property. This restriction does not apply to small quantities of
Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of
the Property.
B. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have
been, are, and will remain in full compliance with any applicable Environmental Law.
C. Mortgagor will immediately notify Lender if a release or threatened release of a Hazardous Substance occurs
on, under or about the Property or there is a violation of any Environmental Law concerning the Property. In
such an event, Mortgagor will take all necessarv remedial action in accordance with any Environmental Law.
D. Mortgagor will immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any
pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any
Hazardous Substance or the violation of any Environmental Law.
16. CONDEMNATION. Mortgagor will give Lender prompt notice of any pending or threatened action by private or
public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other
means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or
claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected with a
SHAWN WEERHEIM
Wyoming Mortgage
WY/4brandiemO0815100004558020111004Y
~199R [~ankers Systems, Inc., St. Cloud, MN
condemnation or other taking of all or any part of the Property. Such proceeds will be considered payments and
will be applied as provided in this Security Instrument. This assicjnrnent of proceeds is subject to the terms of any
prior mortga0e, deed of trust, security agreement or other lien document.
]7. INSURANCE. Mortgagor a0rees to k~ep the ProperW insured a0ainst the dsks r~asonab[y associated with th~
ProperW. Mort0a0or will maintain this insurance in the amounts Lender requires. This insuranc~ wi{[ last until th~
ProperW is released from this S~urit~ Instrument. What L~nder requires pursuant to th~ pr~din0 two sent~n~s
~an chan0~ durin0 th~ term of th~ S~umd Debts. Mort0a0or may choose th~ insurance ~ompany, subject to
L~nder's approval, which will not b~ unreasonably withh~ld. All insuran~ poli~i~s and renewals will inelud~
standard "mort0a0~ ~lause" and, wher~ applicable, "loss pay~ clause."
Mort0a~or will 0iv~ Lender and the insurance company immediate notic~ of any loss. All insuran~ proceeds will
be applied to restoration or repair of the ProperW or to th~ Secured Debts, at Lender's option. If L~nder acquires
th~ Property in dama0~d ~ondition, Mort0a0or's d0hts to any insurance policies and proceeds will pass to L~nd~r to
th~ ~xt~nt of th~ S~u~ed D~bts.
Mort0a0or will immediately notif~ L~nder of cancellation or t~rmination of insurance. If Mort0a~or fails to ke~p th~
Property insured Lender ma~ obtain insurance to prote~t L~nder's interest in th~ ProperW. This insuranc~ may
in~[ud~ covera~s not originally required of Mortgagor, ma~ be written by a ~ompan~ other than on~ Mort0a0or
would choose, and ma~ b~ written at a hi0her rate than Mortoa0or cou[d obtain if Mort~a0or pumhased th~
insurance.
18. ESCROW FOR TAXES AND INSURANCE. As provided in a separate agreement, Mortgagor agrees to pay to
Lender funds for taxes and insurance in escrow.
19. CO-SIGNERS. If Mortgagor signs this Securit~ Instrument bot does not sign the Secured Debts, Mortgagor
does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debts and
Mortgagor does not agree to be personally liable on the Secured Debts. If this Security Instrument secures a
guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that ma~ prevent Lender from
bringing any action or claim against Mortgagor or any part~ indebted under the obligation. These rights may
include, but are not limited to, any anti-deficiency o~ one-action laws.
20. WAIVERS. Except to the extent prohibited b~ law, Mortgagor waives all homestead exemption rights relating
to the ProperW.
21. APPLICABLE LAW. This Security Instrument is governed by the laws of Wyoming, except to the extent
otherwise required b~ the laws of the jurisdiction where the Property is located, and the United States of America.
22. JOINT ~ND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgagor's obligations under this SecuriW
Instrument are independent of the obligations of any other Mortgagor. Lender may sue each Mortgagor individually
or together with any other Mortgagor. Lender may release any part of the Property and Mortgagor will still be
obligated under this SecuriW Instrument for the remaining Property. The duties and benefits of this SecuriW
Instrument will bind and benefit the successors and assigns of Lender and Mortgagor.
23. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security Instrument ma~ not be amended or modified
by oral agreement. No amendment or modification of this Security Instrument is effective unless made in writing
and executed b~ Mortgagor and Lender. This Security Instrument is the complete and final expression of the
agreement. If an~ provision of this Security Instrument is unenforceable, then the unenforceable provision will be
severed and the remaining provisions will still be enforceable.
24. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The
section headings are for convenience only and are not to be used to interpret or define the terms of this SecuriW
Instrument.
2~. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOGUMENTS. Unless otherwise required by law,
notice will be given b~ delivering it or mailing it b~ first class mail to the appropriate party's address listed in the
DATE AND PARTIES section, or to an~ other address designated in writing. Notice to one parW will be deemed to
be notice to all parties. Mortgagor will inform Leander in writing of any change in Mortgagor's name, address or
other application information. Mortgagor will provide Lender any financial statements or information Lender
requests. All financial statements and information Mortgagor gives Lender will be correct and complete.
Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender ma~ consider
necessary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and to~onfirm
Lender's lien status on any Property. Time is of the essence.
SIGNATURES. By signing, Mortgagor agrees to the terms and covenants contained in this Security Instrument.
Mortgagor also acknowledges receipt of a copy of this Security Instrument.
SHAWN WEERHEIM
Individually
Individually
SHAWN WEERHEIM
Wyoming Mortgage
Initials
WY/4brandiemO0815100004558020111004Y ®1996 ~¢~nkers Systems, Inc.. St. Cloud, MN ~ Page 4
LENDER:
First National Bank - West
Don Staley, Af~o~'Loan~'d'~fficer
ACKNOWLEDGMENT,
(Individual)
This instrument was acknowledged before me this
SHAWN WEERHEIM,andSHIRLEY WEERHEIM.
My commission expires: '*'-"'~ '2/
OF Z. ,, ss.
/~-. day of ,,¢;r~-~-,clg-.-'/
(N~ta~y Public)
by
(Lender Acknowledgment)
~..~ OF ~-_~C~i,~ i."~_~.,".~,~ O.F L~.',, ,:": !.i"~ ss.
This instrument was acknowledged-~oefore me this k ~ day of K'~('%~Ci~r- ,
Don Staley as Alton Loan Officer of First National Bank - West.
My commission expires: -/~,~)L~,,~:?~ '
~ ~-~<~~} (Notary Public)
ounty of ~ state of
by
SHAWN WEERHEIM
Wyoming Mortgage
WY/4brandiemO0815100004558020111OO4Y
~1996 Bankers Systems, Inc., St. Cloud, MN
,-0870
ALTA COMMITMENT- 1982- Wy
Commitment No.- FA 12657 M
SCI-I~DULE C
The land referred re in this commitment is situa[ed in the State of Wyoming, County of Lincoln, and is described as
follows:
Part of Section 12, T31N RI!gW of the 6th P.M., Lincoln County, Wyoming,
more particularly described as follows:
Beginning 80 rods West and 20 r~ds South of the Northeast corner of said
Section 12 and running thence West q8 rods;
thence South 20 rods;
thence East 48 rods;
thence North 20 rods to the point of beginning.
ALSO
Part of Section 12, T31N Ri19W of the 6th P.M., Lincoln County, Wyoming,
more particularly described as follows:
Beginning at a point which is 42 rods West from the Northeast corner of
said Section 12 and running thence South 70 rods;
thence East 10 rods;
thence South 10 rods;
thence West 48 rods;
thence North 80 rods;
thence East 38 rods to the point of beginning.
EXCEPTING THEREFROM the ]and described in
Novenfoer 20, 1972 in Book 102PR on page 233 of the records
Lincoln County Clerk.
Warranty Deed recorded
of the
EXCEPTING THEREFROM the land described in Quitclaim Deed recorded March
25, 1994 in Book 347PR on page 220 of t?~e records of the Lincoln County
Clerk.
EXCEPTING THEREFROM a port,on of the Weerheim property as referred
to in Deed recorded in Book 409PR on page 840, with the Office of
the Clerk of Lincoln Count},, within th~ NEht~E~ of Section 12, T31N
RllgW o[ the 6th P.M., Lincoln County, Wyoming, the metes and
bounds being more particularly described as follows:
Beginning at a point in the south line of the SE~SE~ of Section 1, of
said T31N RllgW,'said point of beginning, being 1003.03 feet N 89~57'32,
W, along said south line, from the BLS type monument marking the James
w. McJunkin location for the southeast corner of said SE~SE~;
thence S 0002'28" w, 330.74 feet;
thence N 89~56'42,, W, 271.$7 feet;
thence N 0040'00'' E, 330.6~ feet to a point in the said south line;
thence S 89o57'32'' E, alon.g said south line, 268.26 feet to the
point of beginning.
11/91