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HomeMy WebLinkAbout9052230673 RECEIVED 12/14/2004 at 11:08 AM RECEIVING # 905223 BOOK: 574 PAGE: 673 JEANNE WAGNER LINCOLN COUNTY CLERK. KEMMERER. WY Space Above This Line For Re(:o[ding Data MORTGAGE DATE AND PARTIES. The date of this Mortgage (Security InstrLm,~;r~l) is December 9, 2004. The parties and their addresses are: MORTGAGOR: THOMAS E. JEDLINSKY 825 Retreat Lane Powell, Ohio 43065 JAN A. JEDLINSKY husband and wife 825 Retreat Lane Powel, Ohio 43065 LENDER: BANK OF THE WEST Organized and existing under the laws of the United States ol America 801 Pine Avenue Kemmerer, Wyoming 83101 1. CONVEYANCE. For good and valuable consideration, the re(:(~q)[ and sufficiency of which is acknowledged, and to secure the Secured Debts and Mortgagor's performance u~,(l~;I this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the pov~r of sale, the following described property: Lot 51, Unit A, Commissary Ranch Subdivision, Lincoln County, VV¥~)r,,ing as described on the official plat thereof The property is located in Lincoln County at 51 Cedar Trail Rd, Ken)merer, Wyoming 83101. Together with all rights, easements, appurtenances, royalties, ~h~;[al rights, oil and gas rights, all water and riparian rights, wells, ditches and water stock and all existing and r~ttlre improvements, structures, fixtures, and replacements that may now, or at any time in the future, be pa~[ ,)f ~he real estate described (all referred to as Property). This Security Instrument will remain in effect until th(.~ Secured Debts and all underlying agreements have been terminated in writing by Lender. 2. MAXIMUM OBLIGATION LIMIT. The total principal amount sec~,~.(1 by this Security Instrument at any one time will not exceed $55,000.00. This limitation of amount does not h)~;IL~de nterest and other fees and charges validly Thomas E. Jedlinsky Wyoming Mortgage Initi WY/4XpvanberOO600000003657023120604Y ©1996 Bankers Systems, , 09052k 3 :- 0 6 7 4 made pursuant to this Security Instrument. Also, this limitation ;h.,5 riot apply to advances made under the terms of this Security Instrument to protect Lender's security and to ~t:~form any of the covenants contained in this Security Instrument. 3. SECURED DEBTS. This Security Instrument will secure the foll{~vil~fl Secured Debts: A. Specific Debts. The following debts and all extensi~r~s, renewals, refinancings, modifications and replacements. A promissory note, No. 815000005, dated D~:,,.l)er 9, 2004, from Mortgagor to Lender, with a loan amount of $55,000.00 with an interest rate.of 6.5 ,~:~t;unt per year and maturing on December 10, 2019. B. Sums Advanced. All sums advanced and expenses ncu~.d by Lender under the terms of this Security Instrument. 4. PAYMENTS. Mortgagor agrees that all payments under th. Secured Debts will be paid when due and in accordance with the terms of the Secured Debts and this Securit~ I~,-;trument. 5. PRIOR SECURITY INTERESTS. With regard to any other mo~l,.j~je, deed of trust, security agreement or other lien document that created a prior security interest or encumbran~:.; ,,~ the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply w~,h all covenants. B. To promptly deliver to Lender any notices that Mortgagor re~:,.~v~¢s from the holder. C. Not to allow any modification or extension of, nor to · .l~,;st any future advances under any note or agreement secured by the lien document without Lender's pr~ol wr~uen consent. 6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, ass~,s,';men[s, 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 a~. d~e and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any .h,ims that would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as reque.,,i.~l by Lender, any rights, claims or defenses Mortgagor may have against parties who supply labor or material.~ ~ ~aintain or improve the Property. 7. DUE ON SALE. Lender may, at its option, declare the entire h~dm~ce of the Secured Debts to be immediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This right is subject to the restrictions imposed by federal law governing ~l,e preemption of state due-on-sale laws, as applicable. 8. WARRANTIES AND REPRESENTATIONS. Mortgagor has th~; ~flht and authority to enter into this Security Instrument. The execution and delivery of this Security Inst~{~;~ will not violate any agreement governing Mortgagor or to which Mortgagor is a party. 9. PROPERTY CONDITION. ALTERATIONS AND INSPECTION. I~,~.Iflagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor will ~)t commit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property f~,;o of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not sub.',~;~tially change without Lender's prior written consent. Mortgagor will not permit any change in any license, re'.;t¢~c[ive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all /le~;~.ls. 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 Prol).r[y at any reasonable time for the purpose of inspecting the Property Lender will give Mortgagor notice at ~l.~. time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the P~ol)~,~rty wil 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 ~h~ty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cat,;~; them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any ar~o.~ necessary for performance. Lender's right to perform for Mortgagor will not create an obligation to perform, ~,~d Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the aw .~ this Security Instrument. f any construction on the Property is discontinued or not carried on in a reasonable .~..~er, Lender may take all steps necessary to protect Lender's security interest in the Property, including compleli(.~ of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor ass;fl~:~, grants, bargains, conveys, mortgages and warrants to Lender as additiona security all the right, title and in[~,~ .... [ ~n the following (all referred to as Property): existing or future leases, subleases, licenses, guaranties and an,, o~her written or verbal agreements for the use Thomas E. Jedlinsky Wyoming Mortgage WY/4Xpvanbe~131XlO036 fi 7023120604Y ©1996 B~tems I, 0675 and occupancy of the Property, including any extensions, renew~l,,; modifications or replacements (al referred to as Leases); and rents, issues and profits (all referred to as Rents). I~ the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also ~; regarded as a security agreement. Mortgagor will promptly provide Lender with copies of the Leases and will (:,~hfy these Leases are true and correct copies. The existing Leases will be provided on execution of the As,~i(j~ment, and all future Leases and any other information with respect to these Leases wil be provided immc(liatcly after they are executed. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor ~,,~ ~ot in default. Upon default, Mortgagor will receive any Rents in trust for Lender and Mortgagor will not com~l~ '~(jle 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 redemptio~ I~c~iod until the Secured Debts are satisfied. As long as this Assignment is in effect, Mortgagor warrants and rel,c,~;cnts that no default exists under the Leases, and the parties subject to the Leases have not violated any appli,~ble 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 d~c. B. Insolvency. Mortgagor makes an assignment for the be~cfit of creditors or becomes insolvent, either because Mortgagor's liabilities exceed Mortgagor's assets or k1~,[gagor is unable to pay Mortgagor's debts as they become due. C. Death or Incompetency. Mortgagor dies or is declared legally i~competent. D. Failure to Perform. Mortgagor fails to perform any conditi~ or to keep any promise or covenant of this Security Instrument. E. Other Documents. A default occurs Under the terms of any ~tl~ur transaction document. F. Other Agreements. Mortgagor is in default on any other debt ~, agreement Mortgagor has with Lender. G. Misrepresentation. Mortgagor makes any verbal or written ,':t~tement or provides any financial information that is untrue, inaccurate, or conceals a material fact at the ti~u it is made or provided. H. Judgment. Mortgagor fails to satisfy or appeal any judgme~lt ,gainst Mortgagor. 1. Forfeiture. The Property is used in a manner or for a purpose tl~t threatens confiscation by a legal authority. J. Name Change. Mortgagor changes Mortgagor's name o~ a~sumes an additional name without notifying Lender before making such a change. K. Property Transfer. Mortgagor transfers all or a substantival I~,t of Mortgagor's money or property. This condition of default, as it relates to the transfer of the Prope~ W, is subject to the restrictions contained in the DUE ON SALE section. L. Property Value. The value of the Property declines or is imp,ir(~d. M. Insecurity. Lender reasonably believes that Lender is insecure. 13. REMEDIES. Lender may use any and all remedies Lender ha% ~lr~der state or federal law or in any instrument evidencing or pertaining to the Secured Debts, including, without lir~itation, the power to sell the Property. Any' amounts advanced on Mortgagor's behalf will be immediately du,~, ~)(I may be added to the balance owing under the Secured Debts. Lender may make a claim for any and all in.';~)ce benefits or refunds that may be available on Mortgagor's default. Subject to any right to cure, required time schedules or any othel ~)otice rights Mortgagor may have under federal and state law, Lender may make all or any part of the amo~r~t owing by the terms of the Secured Debts immediately due and foreclose this Security Instrument in a ma~,~er provided by law upon the occurrence of a default or anytime thereafter. Upon any sale of the Property, Lender will make and deliver a sl),~(:i~d or limited warranty deed that conveys the property sold to the purchaser or purchasers. Under this speci~d <, limited warranty deed, Lender will covenant that Lender has not caused or allowed a lien or an encumbral~,,c to burden the Property and that Lender will specially warrant and defend the Property's title of the purchase~ ,~ i~urchasers at the sale against all lawful claims and demand of all persons claiming by, through or under Lender. FI~e ~ecitals in any deed of conveyance will be prima facie evidence of the facts set forth therein. All remedies are distinct, cumulative and not exclusive, and the Leander is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by k(:~der of any sum in payment or partial payment on the Secured Debts after the balance is due or is accelerated ol ;~fter foreclosure proceedings are filed will not constitute a waiver of Lender's right to require full and complete t:t,e of any existing default. By not exercising Thomas E. Jedlinsky Wyoming Mortgage WY/4XpvanberOO6OOO00003657023120604Y ©1996 Bankers Systems, h~, Cloud, MN ~." 09052; 3 n676 any remedy, Lender does not waive Lender's right to Jater consich~i the event a default if it continues or happens again. 14. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or ~,lt(~,r Default, to the extent permitted by ~aw, Mortgagor agrees to pay aH expenses of collection, enforcemen[ ol protection of Lender's rights and remedies under this Security ~nstrument. Mortgagor agrees to pay expense:, lu~ Lender to inspect and preserve the Property and for any recordation costs of releasing the Property from th~ ~curiW Instrument. Expenses include, but are not limited to, reasonable attorneys' fees after default and referee, [o an attorney not a saladed employee of the Lender. These expenses are due and payable immediately. H i~o~ paid imme'diate~y, these expenses will bear interest from the date of payment until paid in full at the highest i~l~;rest rate in effect as provided for in the terms of the Secured Debts, To the extent permitted by the United $1~t.s Bankruptcy Code, Mortgagor agrees to pay the reasonable attorneys' fees Lender incurs to collect the SectH~,'d 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 Resl..~.~;u, Compensation and Liability Act (CERCLA), all other federal, state and local laws, regulations, ordinancu:;, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare. ,,~vi~onment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characterist'cs which render the substance dangerous or pol.ldialy dangerous to the public health, safety, welfare or environment. The term includes, without limitation, ar~y substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," o~ "regulated substance" under any Environmental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in wnting ~) Lender, no Hazardous Substance is or will be located, stored or released on or 'n the Property. This re~;Ir,;tion does not apply to small quantities of Hazardous Substances that are generally recognized to be apl)r(q~late for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in writil~u ~o Lender, Mortgagor and every tenant have been, are, and will remain in full compliance with any applicable E~tvironmental Law. C. Mortgagor will immediately notify Lender if a release or thr.~t.,r~ed release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Er~vironmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial actio~ hI accordance with any Environmental Law. D. Mortgagor will immediately notify Lender in writing as soo~ .... Mortgagor has reason to believe there is any pending or threatened investigation, claim, or proceeding relat,.j 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 ,~l .'lnV pending or threatened action by private or public entities to purchase or take any or all of the Property throuuI, condemnation, eminent domain, or any other means. Mortgagor authorizes Lender'to intervene in Mortgagor'.~; ~tame in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of any awu~d or claim for damages connected with a condemnation or other taking of all or any part of the Property. Suclt proceeds wil be considered payments and will be applied as provided in this Security Instrument. This assigr,~tmt of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien doct.nent. 17. INSURANCE. Mortgagor agrees to keep the Property insured ~,~jainst the risks reasonably associated with the Property. Mortgagor wil maintain this'nsurance in the amounts L~.~cler requires. This insurance will last until the Property is released from this Security Instrument. What Lender ~,~uires pursuant to the preceding sentences can change during the term of the Secured Debts Mortgagor may cll~)~.;e the nsurance company, subject to Lender's approval, which will not be unreasonably withheld. All insuran(:, policies and renewals will include a standard "mortgage clause" and, where applicable, "loss payee clause." Mortgagor will give Lender and the insurance company immediatu ~otice of any loss. All insurance proceeds will be applied to restoration or repair of the Property or to the SecLu~,,d Debts, at Lender's option. If Lender acquires the Property in damaged condition, Mortgagor's rights to any insur.~.:e, policies and proceeds will pass to Lender to the extent of the Secured Debts. Mortgagor wil immediately notify Lender of cancellation orterminatic)n of insurance. If Mortgagor fails to keep the Property insured Lender may obtain insurance to protect Lender':~ i~derest in the Property. This insurance may include coverages not originally required of Mortgagor, may be wr~l~en by a company other than one Mortgagor Wyoming Mortgage Is. b Cloud. MN ~'* ......... Page"4 Thomas E. Jedlinsky WY/4XpvanberO0600000003657023120604Y ©1996 Bankers Systems, OgOa , 067" would choose, and may be written at a higher rate than Mort~j~.jor could obtain if Mortgagor purchased the insurance. '18. ESCROW FOR TAXES AND INSURANCE. Mortgagor wi[[ not hr; required to pay to Lender funds for taxes and insurance in escrow. '19. GO-SIGNERS. If Mortgagor signs this Security Instrument but does not sign the Secured Debts, Mortgagor does so only to mortgage Mortgagor's interest in the Property ~o secure payment of the Secured Debts and Mortgagor does not agree to be personally liable on the' Secureu Debts. f this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party ind~d~lt.~d undar the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws 20, WAIVERS. Except to the extent prohibited by law, Mortgacjot waives all homestead exemption rights relating to the Property. 21. APPLICABLE LAW. This Security Instrument is governed b~ the laws of Wyoming, except to the extent otherwise required by the laws of the jUrisdiction where the Properly ,s located, and the United States of America. 22. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Eacl Vlortgagor's obligations under this Security Instrument are independent of the obligations of any other Mortgagf,. Lender may sue each Mortgagor individually or together with any other Mortgagor. Lender may release any .,,~ of the Property and Mortgagor will still be obligated under this Security Instrument for the remaining Prope~w. The duties and benefits of this Security Instrument will bind and benefit the successors and assigns of Lemh;~ and Mortgagor. 23. AMENDMENT, INTEGRATION AND SEVERABILITY. This Sec~,~y Instrument may not be amended or modified by oral agreement. No amendment or modification of this Securit, h~strument is effective unless made in writing and executed by Mortgagor and Lender. This Security Instrume~i s the complete and final expression of the agreement. If any provision of this Security Instrument is unenfo~:cable, then the unenforceable provision will be severed and the remaining provisions will still be enforceable. 24. INTERPRETATION. Whenever used, the singular includes the ~l~ral and the plural includes the singular. The section headings are for convenience only and are not to be used to ~nm~pret or define the terms of this Security Instrument. 25. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any notice will be given by delivering it or mailing it by first class mail m tl~e appropriate party's address listed in th~ DATE AND PARTIES section, or to any other address designated i~ w~dng. Notice to one party will be deemed to be notice to all parties. Mortgagor will inform Lender in writing ol any change in Mortgagor's name, address or other application information. Mortgagor will provide Lender a~y [inancial statements or information Lender requests. All financia statements and information Mortgagor tliw-,'s Lender will be correct and complete. Mortgagor agrees to sign, deliver, and file any additional documef~,s or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's obligationr; under this Security Instrument and to confirm Lender's lien status on any Property. Time is of the essence. SIGNATURES. By signing, Mortgagor agrees to the terms and cow.q~ants contained in this Security Instrument. Mortgagor also acknowledges receipt of a copy of this Security Instrument. MORTGAGOR: 'i-t~om a s E.~J~ed]insky ~I,~L ~tz J Nolaff Public, Stale of Ohio Thomas E. Jedlinsky Wyoming Mortgage Initials WY/4XpvanberOO600000003657023120604Y ©1996 E]ankers Systems, q,_ L:k~ud MN ~1~~ Page ACKNOWLEDGMENT. (Individual) I OF , O~ This instrument was acknowledged before me this Thomas E. dedlinsky, and dan A. Jedlinsky, husband and wife. My commission expires: SS, (Notary Ptdflic) · ,-0878 Thomas E. Jedlinsky Wyoming Mortgage WY/4XpvanberO0600000003657023120604Y ©1996 Bankers Systems, ,,, :,~,',,',,~,',,;,',