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RECEIVED 11/18/2004 at 10:16 AM
RECEIVING # 904670
BOOK: 573 PAGE: 6-10
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
State of Wyoming :.;1,:.-~. M~ove This Line For Recording Data
MORTGAGE
(With Future Advance Clausu
DATE AND PARTIES. The date of this Mortgage (Security Instrumcm, is .1.1.-.0.2...2.0.0..4 .................................... and the
parties, their addresses and tax identification numbers, if required, are as l'o lI.ws:
MORTGAGOR: STACY A. MYERS, A MARRIED WOMAN a/k/a Stacy Fryers
[] If checked, refer to the attached Addendum incorporated herci,,
acknowledgments.
LENDER:
BANK OF JACKSON HOLE
ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF WYOMING
990 W. BROADWAY
?.O. BOX 7000 JACKSON, WY 83002
additional Mortgagors, their signatures and
o
CONVEYANCE. For good and valuable consideration, the receipt and surricicncy of which is acknowledged, and to secure
the Secured Debt (defined below) and Mortgagor's performance under II~is Security Instrument, Mortgagor grants, bargains,
conveys, mortgages and warrants to Lender, with power of sale, the followi}~ described property: I_01S 9 & 10 OF ALPINE REIR[AI NO.
1, AS PLATTED, FILED AND RECORDED IN LINCOLN COUNTY, WYOMING CLERK'S OFFICE IN KEMMHtER, WYOMING.
o
The property is located in ..................... .LJ .N.C. 0. .L N .......................... at k0.!.s.~..a..!.0.0..~.a.L~.~.[B.[.l.~.t.~.l..N0.: J ...........
(County)
....................................................................................... ~p!N~ ........................ Wyoming ........ .8.3.!.2.8. ........
(Address) t't ib ) (ZIP Code)
Together with all rights, easements, 'appurtenances, royalties, mineral ~i:,l,s, ,il and gas rights, all water and riparian rights,
ditches, and water stock and all existing and future improvements, struc~mcs, fixtures, and replacements that may now, or at
any time in the future, be part of the real estate described above (all referred h~ as "Property").
MAXIMUM OBLIGATION LIMIT. The total principal amount secured hy dfis Security Instrument at any one time shall not
exceed $ .2.5,.0.0.0...0.0. ........................................... This limitation ,r .,Hmmni does not include interest and other fees and
charges validly made pursuant to this Security Instrument. Also, this li~dm~km does not apply to advances rnade under the
terms of this Security Instrument to protect Lender's security and to pc~l'tum any of the covenants contained in this Security
Instrument.
SECURED DEBT AND FUTURE ADVANCES. The term "Secured l)chl" is defined as follows:
A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
below and all their extensions, renewals, modifications or suhslilulitms. OVhen referencing the debts below it is
suggested that you include items such as borrowers' names, note aiflott/tl~, [merest rates, maturity dates, etc.)
PROMISSORY NOTE DATED 11102104 IN THE AMOUNT OF ~25,000.00
WYOMING - MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USE)
c~199z~ Bankers Systems, inc., St. Cloud, MN (1-800~397-2341) Form RE-MTG-WY 11/18/94
[page 1 of 4)
All future advances from Lender to Mortgagor or other future ohlig~:d imls of Mortgagor to Lender under any promissory
note, contract, guaranty, or other evidence of debt executed by/Xh~ I1~ag.r in favor of Lender executed after this Security
Instrument whether or not this Security Instrument is specifically i,'l~'rcnccd. If more than one person signs this Security
Instrument, each Mortgagor agrees that this Security Instrumem will secure all future advances and future obligations
that are given to or incurred by any one or more Mortgagor, ,,~ :m) o,~e or more Mortgagor and others. All future
advances and other future obligations are secured by this Secmi~y Instrument even though all or part may not yet be
advanced. All future advances and other future obligations are sct:u~.d as il' made on the date of this Security Instrument.
Nothing in this Security Instrument shall constitute a conmfitme~ ~,~ make additional or future loans or advances in any
amount. Any such commitment must be agreed to in a separate wri~i~
All obligations Mortgagor owes to Lender, which may later arise, ~t, ~l~c extent not prohibited by law, including, but not
limited to, liabilities for overdrafts relating to any deposit account al,.~t't'mcnl between Mortgagor and Lender.
All additional sums advanced and expenses incurred by Lender I',,r insuriug, preserving or otherwise protecting the
Property and its value and any other sums advanced and expens~:s i~curred by Lender under the terms of this Security
Instrument.
This Security Instrument will not secure any other debt if Lender fails to,~,,,','~, any required notice of the right of rescission.
5. PAYlVlENTS. Mortgagor agrees that all payments under the Secured I It,bi will be paid when due and in accordance with the
terms of the Secured Debt and this Security Instrument.
6. PRIOR SECURITY INTERESTS. With regard to any other mor~i,:~,t,, deed of trust, security agreement or other lien
document that created a prior security interest or encumbrance on the Prupt~ty. Mt~rtgagor agrees:
A. To make all payments when due and to perform or comply with all c~,~'~.n:mts.
B. To promptly deliver to Lender any notices that Mortgagor receives I'l,,.~ d~c holder.
C. Not to allow any modification or extension of, nor to request any [iHurc advances under any note or agreement secured
by the lien document without Lender's prior written consent.
7. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessmems, lit, ns, encumbrances, lease payments, ground rents,
utilities, and other charges relating to the Property when due. Lender m:~3 rctluirc Mortgagor to provide to Lender copies of all
notices that such amounts are due and the receipts evidencing Mor~g, aL,,~r's payment. Mortgagor will defend title to the
Property against any claims that would impair the lien of this Securit5 Inslrmncnt. Mortgagor agrees to assign to Lender, as
requested by Lender, any rights, claims or defenses Mortgagor may h~v~: aga ~st parties who supply labor or ~naterials to
maintain or improve the Property.
8. DUE ON SALE OR ENCU1VIBRANCE. Lender may, at its option, tk'darc the entire balance of the Secured Debt to be
immediately due and payable upon the creation of, or contract for the clt.:~litm ~d', any lien, enculnbrance, transfer or sale of the
Property. This right is subject to the restrictions imposed by federal h~w (12 (:.F.R. 591), as applicable. This covenant shall
run with the Property and shall remain in effect until the Secured Debt is i*:~itl iq full and this Security Instrument is released.
9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. [h,~,.2.,tgm- will keep the Property in good condition and
make all repairs that are reasonably necessary. Mortgagor shall not coinllttt t*r allow any waste, impairment, or deterioration of
the Property. Mortgagor will keep the Property free of noxious weed, :md u,'asses. Mortgagor agrees that the nature of the
occupancy and use will not substantially change without Lender's prior v. ~iHc~'~ ctmsent. Mortgagor will not permit any change
in any license, restrictive covenant or easement without Lender's prim written consent. Mortgagor will notify Lender of all
demands, proceedings, claims and actions against Mortgagor, and of any lt~s~ m' damage to the Property.
Lender or Lender's agents may, at Lender's option, enter the Property al :my reasonable time for the purpose of inspecting the
Property. Lender shall give Mortgagor notice at the time of or before :.~ inspection specifying a reasonable purpose for the
inspection. Any inspection of the Property shall be entirely for Lendcl's benefit and Mortgagor will in no way rely on
Lender's inspection.
10. AUTHORITY TO PERFORM. If Mortgagor fails to perform any duly m' any of the covenants contained in this Security
Instrument, Lender may, without notice, peffom~ or cause them to bc pelfi~rnlcd. Mortgagor appoints Lender as attorney in
fact to sign Mortgagor's name or pay any amount necessary for perfot~:,ncc. I.cnder's right to perform for Mortgagor shall
not create an obligation to perform, and Lender's failure to perform will .t,~ preclude Lender from exercising any of Lender's
other rights under the law or this Security Instrument. If any constructi~m ,,, tile Property is discontinued or not carried on in a
reasonable manner, Lender may take all steps necessary to protect I~ ,dcr s security interest in the Property, including
completion of the construction.
11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevocably gr:m~s, bargains, conveys, mortgages and warrants to
Lender as additional security all the right, title and interest in and to mty :md :ill existing or future leases, subleases, and any
other written or verbal agreements for the use and occupancy of any p~,rtim~ of the Property, including any extensions,
renewals, modifications or substitutions of such agreements (all refct~tl I~ as "Leases") and rents, issues and profits (all
referred to as "Rents"). Mortgagor will promptly provide Lender with ~rut. ~md ct~rrect copies of all existing and future Leases.
Mortgagor may collect, receive, enjoy and use the Rents so long as Mt~ll},a!_,t~r is lint in default under the terms of this Security
Instrument. ~
Mortgagor agrees that this assignment is immediately effective betwc~,~ die parties to this Security Instrument. Mortgagor
agrees that this assignment is effective as to third parties when Lender I;d(t~s al'l'i,'mative action prescribed by law, and that this
assignment will remain in effect during any redemption period until Iht~ Secured Debt is satisfied. Mortgagor agrees that
Lender may take actual possession of the property without the necessity ,,I c~mmlencing legal action and that actual possession
is deemed to occur when Lender, or its agent, notifies Mortgagor of dt,l'aull and demands that any tenant pay all future Rents
directly to Lender. On receiving notice of default, Mortgagor will enth,rsc and deliver to Lender any payment of Rents in
Mortgagor's possession and will receive any Rents in trust for Lender ~tt will m~t connningle the Rents with any other funds.
Any amounts collected will be applied as provided in this Security Inst~m~t~m. Mortgagor warrants that no default exists under
the Leases or any applicable landlord/tenant law. Mortgagor also agrees ~,~ maintain and require any tenant to comply with the
terms of the Leases and applicable law.
(~1994 Bankers Systems. Inc., St. Cloud, MN (1-800-397-2341) Form RE-MTG-WY 11/18/94
(page 2 of 4)
12.
13.
14.
LEASEllOLDS; CONDOM/NIIIMS; PLANNED UNIT DEVELt~I'MENTS. Mortgagor agrees to comply with the
provisions of any lease if this Security Instrument is on a leasehold. II' dIe Property includes a unit in a condominium or a
planned unit development, Mortgagor will perform all of Mortgagor's dmics under the covenants, by-laws, or regulations of
the condominium or planned unit development.
DEFAULT. Mortgagor will be in default ff any party obligated o, ~ht. Secured Debt fails to m:~ke payment when due.
Mortgagor will be in default if a breach occurs under the terms of this S~.cm'i~y Instrument or any other document executed for
the purpose of creating, securing or guarantying the Secured Debt. A sL,,~tl l'aith belief by Lender that Lender at any time is
insecure with respect to any person or entity obligated on the Secured 1 )~.hl t~r that the prospect of any payment or the value of
the Property is impaired shall also constitute an event of default.
REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide Mortgagor with notice
of the right to cure or other notices and may establish time schedules I,~ I'-rcclosure actions. Subject to these limitations, if
anY,is in default.Lender may accelerate the Secured Debt and foreclose this Securil~. I~s~rmm'nt in a manner provided by law if Mortgagor
At the option of Lender, all or any part of the agreed fees and charges, :~ct'rucd interest and principal shall become immediately
due and payable, after giving notice if required by law, upon the occull't.tlcc ()f a default or anytime thereafter. In addition,
Lender shall be entitled to all the remedies provided by law, the terms ~,1' ~hc Secured Debt, this Security Instrument and any
related documents including, without limitation, the power to sell thc I'~,,pt,~ty. All remedies are distinct, cumulative and not
exclusive, and the Lender is entitled to all remedies provided at law t~t equity, whether or not expressly set forth. The
acceptance by Lender of any sum in payment or partial payment on tl~, ~;~'curcd Debt after the balance is due or is accelerated
or after foreclosure proceedings are filed shall not constitute a waiver t~l I t'lldcr's right to require complete cure of any existing
default. By not exercising any remedy on Mortgagor's default, Lender tl~}c:s n{)l waive Lender's right to later consider the event
a default if it continues or happens again.
15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEIi2~: ('OLLECTION COSTS. Except when prohibited
by law, Mortgagor agrees to pay all of Lender's expenses if Mortga~,,~ breaches any covenant in this Security Instrmnent.
Mortgagor will also pay on demand any amount incurred by Lender t',,r insuring, inspecting, preserving or otherwise
protecting the Property and Lender's security interest. These expenses will ho'ar imcrest from the date of the payment until paid
in full at the highest interest rate in effect as provided in the terms of iht. St'cured Debt. Mortgagor agrees to pay all costs and
expenses incurred by Lender in collecting, enforcing or protecting Lendt.~'s rights and remedies under this Security Instrument.
This amount may include, but is not limited to, reasonable attorneys' I'~.~.s, c,,urt costs, and other legal expenses. This amount
does not include attorneys' fees for a salaried employee of the Lender. 'this Security Instrument shall remain in effect until
released. Mortgagor agrees to pay for any recordation costs of such releasv.
16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. ,,~ used i, riffs section, (1) Environmental Law means,
without limitation, the Comprehensive Environmental Response, Comw~s:~li,m and Liability Act (CERCLA, 42 U.S.C. 9601
et seq.), and all other federal, state and local laws, regulations. ~}tt inmccs, court orders, attorney general opinions or
interpretive letters concerning the public health, safety, welfare, envi~,,,~cat t)r a hazardous substance; and (2) Hazardous
Substance means any toxic, radioactive or hazardous material, waste, pt}llul:~ltl t)r contmninant which has characteristics which
render the substance dangerous or potentially dangerous to the public ht.alth, safety, welfare or enviromnent. The term
includes, without limitation, any substances defined as "hazardous re:tlc'rial," "toxic substances," "hazardous waste" or
"hazardous substance" under any Enviromnental Law.
Mortgagor represents, warrants and agrees that:
A. Except as previously disclosed and acknowledged in writing to I c. ndcr, no Hazardous Substance is or will be located,
stored or released on or in the Property. This restriction does m~! :tl~l,I), t{~ small quantities of Hazardous Substances that
are generally recognized to be appropriate for the normal use and m:~im~'nancc of the Property.
B. Except as previously disclosed and acknowledged in. writing to |x:mtt'r, Mm'tgagor and every tenant have been, are, and
shall remain in full compliance with any applicabl6 Environmental l.aw.
C. Mortgagor shall immediately notify Lender if a release or threatcm.d release of a Hazardous Substance occurs on, under
or about the Property or there is a violation of any Enviromnc,l:d l.aw concerning the Property. In such an event,
Mortgagor shall take all necessary remedial action in accordance wid~ :,ty I!nviromnental Law.
D. Mortgagor shall immediately notify Lender in writing as soon as NI,mL, agt~r has reason to believe there is any pending or
threatened investigation, claim, or proceeding relating to the release, {~r threatened release of any Hazardous Substance or
the violation of any Environmental Law.
17. CONDEMNATION. Mortgagor will give Lender prompt notice of am' Iwnding or threatened action, by private or public
entities to purchase or take any or all of the Property through condenmali n, eminent domain, or any other means. Mortgagor
authorizes Lender to intervene in Mortgagor's name in any of the al,~x't, described actions or claims. Mortgagor assigns to
Lender the proceeds of any award or claim for damages connected with , c,,mlcmnation or other taking of all or any part of the
Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrtm~ent. This
assignment of proceeds is subject to the terms of any prior mortgage, deed ,,I ~tust, security agreement or other lien document.
18. INSURANCE. Mortgagor shall keep Property insured against loss by fi~c, l'h~t~d, Iheft and other hazards and risks reasonably
associated with the Property due to its type and location. This insurance :;1~:~11 bc maintained in the amounts and for the periods
that Lender requires. The insurance carrier providing the insurance shall hr: chanson by Mortgagor subject to Lender's approval,
which shall not be unreasonably withheld. If Mortgagor fails to lnaint:fi~l Ihc coverage described above, Lender may, at
Lender's option, obtain coverage to protect Lender's rights in the Property ;tccL,rtli~lg to the terms of this Security Instrument.
All insurance policies and renewals shall be acceptable to Lender and sh:dl include a standard "mortgage clause" and, where
applicable, "loss payee clause." Mortgagor shall immediately notify l.cmlt.r of cancellation or termination of the insurance.
Lender shall have the right to hold the policies and renewals. If Lender ~t'quircs, Mortgagor shall immediately give to Lender
all receipts of paid premiums and renewal notices. Upon loss, Mortgag~|' shall give immediate notice to the insurance carrier
and Lender. Lender may make proof of loss if not made immediately by
Unless otherwise agreed ia writing, all insurance proceeds shall be applit.d h~ Iht restoration or repair of the Property or to the
Secured Debt, whether or not then due, at Lender's option. Any apl,lic:~i(,t of proceeds to principal shall not extend or
1 fpage 3 of 41
c(~1994 Banker~ $¥~t~rn~, Inc., St. Cloud, MN (1-800-397-2341) Form RE-MTG-WY 11/18/94 ...~ . .
· 0:3,3 3
postpone the due date of the scheduled payment nor change the am,,u.i rd' an~ payment. Any excess will be paid to the
Mortgagor. If the Property is acquired by Lender, Mortgager's righl ~,, any insurance policies and proceeds resulting from
dmnage to the Property before the acquisition shall pass to Lender tt, ~hc e×tenl of the Secured Debt immediately before the
acquisition.
19. ESCROW FOR TAxEs AND INSURANCE. Unless otherwise pr~,x Jdcd iu a separate agreement, Mortgagor will not be
required to pay to Lender funds for taxes and insurance in escrow.
20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Nlt}ll).,:l~t~r will provide to Lender upon request, any
financial statement or information Lender may deem reasonably nect.s~n'v. Mortgagor agrees to sign, deliver, and file any
additional documents or certifications that Lender may consider necess,i'y m perfect, continue, and preserve Mortgager's
obligations under this Security Instrument and Lender's lien status on thc I'~,q)crty.
21. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESS( )RS AND ASSIGNS BOUND. All duties under this
Security Instrument are joint and individual. If Mortgagor signs this Sccn~ il) Instrument but does not sign an evidence of debt,
Mortgagor does so only to mortgage Mortgager's interest in the I'~,,peny m secure payment of the Secured Debt and
Mortgagor does not agree to be personally liable on the Secured Debl. It this Security Instrument secures a guaranty between
Lender and Mortgagor, Mortgagor agrees to waive any rights that m.[~ prcvcm Lender from bringing any action or clahn
against Mortgagor or any party indebted under the obligation. Th,'se ,ights may include, but are not limited to, any
anti-deficiency or one-action laws. Mortgagor agrees that Lender and any i~:nly m riffs Security Instrument may extend, modify
or make any change in the terms of this Security Instrtm~ent or any e,, irk-ncc of debt without Mortgager's consent. Such a
change will not release Mortgagor from the terms of this Security Inslrumcnt. The duties and benefits of this Security
Instrument shall bind and benefit the successors and assigns of Mortgagm ,nd lender.
22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This %curtly Instrument is governed by the laws of the
jurisdiction in which Lender is located, except to the extent otherwise ~CtlUircd by the laws of the jurisdiction where the
Property is located. This Security Instrument is complete and ft/lly iuteg~:nctl. This Security Instrument may not be vanended or
modified by oral agreement. Any section in this Security Instrument, aln~chmeuts, or' any agreement related to the Secured
Debt that conflicts with applicable law will not be effective, unless thai law expressly or hnpliedly permits the variations by
written agreement. If any section of this Security Instrument cannot hc cul'orced according to its terms, that section will be
severed and will not affect the enforceability of the remainder of this Sccm'ily Instrument. Whenever used, the singular shall
include the plural and the plural the singular. The captions and headimds ,f II~e sections of this Security Instrument are for
convenience only and are not to be used to interpret or define the terms t,l' dfis Security Instrument. Thne is of the essence in
this Security Instrument.
23. NOTICE. Unless otherwise required by law, any notice shall be given h) delivering it or by mailing it by first class mail to
the appropriate party's address on page I of this Security Instrument, ,,~ i,~ any other address designated in writing. Notice to
one mortgagor will be deemed to be notice to all mortgagors.
24. WAIVERS. Except to the extent prohibited by law, Mortgagor waives ;my right regarding the marshalling of liens and assets
and all homestead exemption rights relating to the Property.
25. OTHER TERMS. If checked, the following are applicable to this Secu~it) Inslrument:
[] Line of Credit. The Secured Debt includes a revolving line el credit provision. Although the Secured Debt may be
reduced to a zero balance, this Security Instrument will remain in ell,'c~ until released.
[] Construction Loan. This Security Instrument secures an obligali,m i,curred for the construction of an improvement on
the Property.
[] Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future
and that are or will become fixtures related to the Property. Tiff, Nrcurily Instrument suffices as a financing statement
and any carbon, photographic or other reproduction may be filed ,~1' rcctll'd for purposes of Article 9 of the Uniform
Commercial Code.
[] Riders. The covenants and agreements of each of the riders chccLcd below are incorporated into and supplement and
amend the terms of this Security Instrument. [Check all applicable h,,xcs[
[] Condominium Rider [] Planned Unit Development Rider ~)lher ........................................................
[] Additional Terms.
SIGNATURES: By signing below, Mortgagor agrees to the terms and cov~.n:,nis cmuained in this Security Instrument and in any
attachments. Mortgagor also acknowledges receipt of a copy of this Security lnqltnnenl on the date stated on page 1.
(Signam, ct (Date)
ACKNOWLEDGMENT:
STATE OF .WY.0.M. JO~ ................................... COUNTY el r~¥~ ........................ } ss.
(Individual)
This instrument was acknowledged before me this ..2N.O day of NOVEMBER, 2004
My commission expires: ~) /~/~ ,~ ,/9 ~//Q/¢ ~
.......................
{ County of tt~"~ St*t~ of [I
I Linc°In I~:~ Wyoming II
~~;'[~pt,m~., !3, 2o0~
c(~1994 Bankers Systems, Inc., St. Cloud, MN (1-800-397-2341) Form RE-MTG-WY 11/18/94
(page 4 of 41
RELEASE AND WAIVER
For good and valuable consideration, the receipt and sufficiency of which is
acknowledged, I, Shawn 3/1. Bard, do hereby forever release and waive all rights
under and by virtue of the Homestead Exemption Laws of the State of Wyoming in
regard to.'
Lots 9 & 10 of ~llpine Retreat No. 1, as Platted, filed and recorded in Lincoln County,
Wyoming Clerk's Office in Kemmerer, Wyoming
together with all improvements thereon.
I realize that my wife, Staey A. Myers, has applied to Bank of Jackson Hole for a
loan and acknowledge that the said lender has relied upon this release and waiver in
making the said loan.
Dated: This 2nd day of November, 2004.
STATE OF WYOMING )
COUNTY OF LINCOLN )
The foregoing instrument was acknowledged before me this
November, 2004, by Shawn M. Bard
day of
WITNESS my hand and official seal.
My Commission Expires: q ~]-~ -~
Residing in:
Notary Publi~
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