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HomeMy WebLinkAbout905314 RECEIVED 12/16/2004 at 12:27 PM RECEIVING # 905314 BOOK: 575 PAGE: 160 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Space Above This Line For Recording Data MORTGAGE DATE AND PARTIES. The date of this Mortga~je (Security Instrument) is December 9, 2004. The parties and their addresses are: MORTGAGOR: DAVID DUNN A sole proprietorship P O BOX 1737 AFTON, Wyoming 83110 CARRIE DUNN W--[~E P O BOX 1737 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 consid~;ration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debts and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lr;~der, with the power of sale, the following described property: SEE ATTACHED SCHEDULE "C" The property is located in LINCOLN County at 101 NORTH WASHINGTON, AFTON, Wyoming 83110. Together with all rights, easements, appurtenalmes, royalties, mineral rights, oil and gas rights, crops, timber, all diversion payments or third party payments r'r~ade to crop producers and all existing and future improvements, structures, fixtures, and replacements that rnav now, or at any time in the future, be part of the real estate described (all referred to as Property). This Sec -,ty Instrument will remain in effect until the Secured Debts and all underlying agreements have been terminated in w~iting by Lender. 2. MAXIMUM OBLIGATION LIMIT. The total pri~/cipal amount secured by this Security Instrument at any one time will not exceed ~142,749.26. This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrumer~ 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 ,nd all extensions, renewals, refinancings, modifications and replacements. A promissory note or otl~or· agreement, No. 61010531, dated December 9, 2004, from Mortgagor to Lender, with a loan amount o[ $142,749.26, with an initial variable interest rate of 6.5 percent per year until December 9, 2007, after which time it may change as the promissory note prescribes and maturing on January 1, 2020. B. All Debts. All present and future debts horn 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.Secur ty Instrument. Nothing in this Security Instrument constitutes a commitment to make additional or futdre Ioan~.~ 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 DAVID DUNN Wyoming Mortgage , . Initial,~~ WY/4brandiem00815100004558014120904Y .!. ~ 195)6 Bankers Systems, Inc., St. Cloud, MN Ex~" - Page 1 ~.,Z~) . Instrument will not secure any debt for which a non-possessor¥, non-purchase money security interest is created in "household goods" in connection with a "consumer Ioa~," as those terms are defined by federal law governing unfair and deceptive credit practices. This Security Inshument will not secure any debt for which a security interest is created in "margin'~stock" and Lender does not ~hlain a "statement of purpose," as defined and required by federal law governing ,securities. C. Sums Advanced. All sums adv~i~t~ed and expenses incurred hv Lender under the terms of this Security Instrument. 4. PAYMENTS. Mortgagor agrees that all payments under the Scct~red Debts will be paid when due and in accordance with the terms of the Secured Debts and this Security Instrument. §. PRIOR SECURITY INTERESTS. With :~.bgard to any other mort§age, deed of trust, security agreement or other lien document that created a prior security interest or 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 n~otices that Mortgagor receiw,~s 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, assessments, ions, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property whet~ 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 claitns that would impair the lien of this Security Instrument. Mortgagor agrees to assign to Lender, as requested hV Lender, any rights, claims or defenses Mortgagor may have against parties who~upply labor or materials to m~dntain or improve the Property. 7. DUE ON SALE OR ENCUMBRANCE. :~l~bnder may, at its option, dech~re 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 (]2 C.F.R. §911, as applicable. 8. WARRANTIES AND REPRESENTATIONS. Mortgagor makes to Lender the following warranties and representations which will continue as long as this Security Instrument is in effect: A. Power. Mortgagor is duly organized, and validly existing and in 0cod standing in all jurisdictions in which Mortgagor operates. Mortgagor has the power and authority t() ~mter into this transaction and to carry on Mortgagor's business or activity as it'is now being conducted and, as applicable, is qualified to do so in each jurisdiction in which Mortgagor operates. B. Authority. The execution, delivery~[ind performance of this Security Instrument and the obligation evidenced by this Security Instrument are within Mortgagor's powers, have been duly authorized, have received all necessary governmental approval, will not violate any provision of law, or order of court or governmental agency, and will not violate any agreement to which Mortgagor is a party or to which Mortgagor is or any of Mortgagor's property is subject. C. Name and Place of Business. O~her than previously disclosed in writing to Lender, Mortgagor has not changed Mortgagor's name or princiPa,! place of business within tl~e last 10 years and has not used any other trade or fictitious name. Without Lender's prior written consent, Mortgagor does not and will not use any other name and will preserve Mortgagor's e~isting name, trade names and franchises. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortga~jor will keep the Property in good condition and make all repairs that are reasonably n, ecessary. Mortgagor will not commit or allow any waste, impairment, or deterioration of the Property. Mortgagc~'~..will keep the Property free ()f noxious weeds and grasses. Mortgagor O 1 '~.~ agrees that the nature of the ccupanoy ano use will not substantially change without Lender's prior written consent, Mortgagor will not permit any change in any 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, No portion of the Property will be remov~d, demolished or materially altered without Lender's prior written consent except that Mortgagor has the right to r:~'move items of personal property comprising a part of the Property that become worn or obsolete, provided that'F~uch personal property is r~.q)laced with other personal property at least equal in value to the replaced personal pibperty, free from any title retention device, security agreement or other encumbrance. Such replacement of personal property will be deemed subject to the security interest created by this Security Instrument. Mortgagor will not partition or subdivide the Property without Lender's prior written consent. 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 giW Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. ,?~ny inspection of the Prol)e.rW 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 Mortga.~or's name or pay any amount necessary for performance. Lender's right to perform for Mortgagor will not create~:[-n 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 R~NTS. Mortgagor assigns, tlrants, bargains, conveys, mortgages and warrants to Lender as additional securit'yr~il'the right, title and interest in the following (Property). DAVID DUNN Wyoming Mortgage WY/4brandiemO0815100004558014120904Y ©1996 Bankers Systems, Inc., St. Cloud MN F~~ Initia~ A.Exmting or future leases, sublease~;ylicenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications or replacements (Leases). B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents, additional rents, common area ma ntenance charges, parking charge.% real estate taxes, other applicable taxes, insurance premium contributions, liqLi'i~ated damages following de(atdt, cancellation premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claims which Mortgagor may have that in any way pertain to or are on account of the use or occupancy of the whole or any part of the Property (Rents). In the event any item listed as Leases or;!,Rents is determined to be per sonal property, this Assignment will also be regarded as a security agreement. Mort{~agor will promptly provide Lender with copies of the Leases and will certify these Leases are true and correct copies. The existing Lewises will be provided on execution of the Assignment, and all future Leases and any other information with ~¢~spect 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. Mortgagor will not collect in advance ar~y Rents due in future lease periods, unless Mortgagor first obtains Lender's written consent. Upon default, M¢~tgagor will receive any Rents in trust for Lender and Mortgagor will not commingle the Rents with any other ful~ds. When Lender so directs, Mortgagor will endorse and deliver any payments of R6~hts from the Property to Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts.~iiiihe costs of managing, protecting and preserving the Property, and other necessary expenses. Mortgagor agrees that this Security Instrument is immediately effective between Mortgagor and Lender. This Security Instrument will remain effective during t~ny statutory redemption period until the Secured Debts are satisfied. Unless otherwise prohibited or prescribed by state law, Mortgagor agrees that Lender may take actual possession of the Prop~r.ty without the necessity of commencing any legal action or proceeding. Mortgagor agrees that actual possessio~f the Property is deemed to occur when Lender notifies Mortgagor of Mortgager's default and demands that Mortgagor and Mortgager's tenants pay all Rents due or to become due directly to Lender. Immediately after Lender gives Mortgagor the notice of default, Mortgagor agrees that either Lender or Mortgagor may immediately notify the tenants and demand that all future Rents be paid directly to Lender. As long as this Assignment is in effect, Mortgagor warrants and represents that no default exists under the Leases, and the parties subject to fl~'e Leases have not violated any applicable law on leases, licenses and landlords and tenants. Mortgagor, at it~'isole cost and expense, will keep, observe and perform, and require all other parties to the Leases to comply with the Leases and any applicable law. If Mortgagor or any party to the Lease defaults or fails to observe any applicable law, Mortgagor will promptly notify Lender. If Mortgagor neglects or refuses to enforce compliance with the terms of the Leases, then Lender may, at Lender's option, enforce compliance. Mortgagor will not sublet, modify, extend, cancel, o~ od~erwise alter the Leases, or accept the surrender of the Property covered by the Leases (unless the Leases so require) without Lender's consent. Mortgagor will not assign, compromise,:subordinate or encumber the Leases and Rents without Lender's prior written consent. Lender does not assur~ or become liable for the Property's maintenance, depreciation, or other losses or damages when Lender acts to;..m':anage, protect or preserve the Property, except for losses and damages due to Lender's gross negligence or inter{i[ional torts. Otherwise, Mo~t~jagor will indemnify Lender and hold Lender harmless for all liability, loss or damage that Lender may incur when Lender opts to exercise any of its remedies against any party obligated under the Lea~es. 12. DEFAULT. Mortgagor will be in defa.~lt 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 o[, 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 insdl{/.ency, bankruptcy, reorganization, composition or debtor relief law by or against Mortgagor, Borrower, or any ~-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. Business Termination. Mortgagor merges, dissolves, reorganizes, ends its business or existence, or a partner or majority owner dies or is declared legally incompetent. E. Failure to Perform, Mortgagor faiI's to perform any condition or to keep any promise or covenant of this Security Instrument. F. Other Documents. A default occuF~!!':{ander the terms of any other transaction document. G. Other Agreements. Mortgagor is in default on any other debt or agreement Mortgagor has with Lender, H. Misrepresentation. Mortgagor makes any verbal or written statement or provides any financial information that is untrue, inaccurate, or conceals~ material fact at the time it is made or provided. I. Judgment. Mortgagor fsi s to satisfY/or appeal any judgment ag~inst Mortgagor. J. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority. K. Name Change. Mortgagor changes Mortgager's name or a.';sumes an additional name without notifying Lender before making such a change. L. Property Transfer. Mortgagor trarLSfers all or a substantial pa~t of Mortgager's money or property. This condition of default, as it relates to th'e transfer of the Property, i.'; subject to the restrictions contained in the DUE ON SALE section. . M. Property Value. The value of the Pr~)perty declines or is impaired. N. Material Change. Without first notifying Lender, there is ~ material change in Mortgager's business, including ownership, management, and financial conditions. O. Insecurity. Lender reasonably be ie~es that Lender is insecure. DAVID DUNN Wyoming Mortgage WY/4brandiemOO815100004558014120904Y ©1996 Bankers Systems, Inc., !St. Cloud, MN ~_.,x'j~-""~u 09053 L4 ; 13. REMEDIES. Lender may use any and all remedies Lender has ul~(ler state or federal law or in an~ instrument ~viden~in9 or pertainin9 to the amounts advanced on Mortgagor's behalf will be immediately due a~t nay be added to the balance owin9 under the Secured Debts. Lender ma~ make a claim for any and all insura~ce benefits or refunds that ma~ be available on Mortgager's default. Subject to any right to cure, required ti~'~ schedules 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 Instrument in a manne~ 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 purchgsers. Under this special o~ limited warranty deed, Lender will covenant that Lender has not caused or allowed;~a lien or an encumbrance tr) burden the Property and that Lender will specially warrant and defend the Propert~is title of the purchaser or [)~[chasers at the sale against all lawful claims and demand of all persons claiming by, ;~.hrough or under Lender. The ~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 Lend,~ is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lendr~[ of any sum in payment or partial payment on the Secured Debts after the balance?,~ due or is accelerated or alter 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 aftu~ Default, to the extent permitted by law, Mortgagor agrees to pay all expenses ~:~: collection, enforcement o~ )rotection of Lender's rights and remedies under this Security Instrument. Mortgag~:~ agrees to pay expenses f(-)~ Lender to inspect and preserve the Property and for any recordation costs of releasing the Property from this Seou~itv Instrument. Expenses include, but are not limited to, attorneys' fees, court costs and other legal expe~',~es These expenses are due and payable immediately. If not paid immediately, these expenses will bear inte~t from the date of payment until paid in full at the highest interest rate in effect as pYovided for in the terms of the Secured Debts. To the extent permitted by the United States Bankruptcy Code, Mortgagor agrees to pay the ~easonable attorneys' fees Lender incurs to collect the Secured Debts as awarded by:'~ny court exercising jurisdiction under the Bankruptcy Code. 15. ENVIRONMENTAL LAWS AND HAzaRDous SUBSTANCES. A~; used in this section, (1) Environmental Law means, without limitation, the Compreh~ive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, muulations, ordinances, court orders, attorney general opinions or interpretive letters c'oncerning the public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substanc~ means any toxic, radioactive or hazardous material, waste, Pollutant or contaminant which has characteristics w~ch render the substance dangerous or potentially dangerous to the public health, safety, welfare or enwronme~t. The term includes, witl~out limitation, any substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazmd()us substance," or "regulated substance" under any Environmental Law. Mortgagor represents, warrants and agree~ that: A. Except as previously disclosed and~'cknowledged in writing to [ en(ter, no Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or I~m~dled by any person on, under or about the Property, except in the ordinary course of business and in strict (:(~mpliance with all applicable Environmental Law. B. Except as previously disclosed and acknowledged in writing to [ender, Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance o~; ~l~e Property. C. Mortgagor will immediately notify~Lender if (1) a release or H~reatened release of Hazardous Substance occurs on, under or about the Property. or migrates or threatens to m~grate from nearby property; or (2) there is a violation of any Environmental La~',?. concerning the Property. n such an event, Mortgagor will take all necessary remedial action in accordan~ with Environmental Law. D. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating to (1) any Hazardous Substance Iocated:.~0n, under or about the Property; or (2) any violation by Mortgagor or any tenant of any Environmental Law. ~rtgagor will immediately ~otify Lender in writing as soon as Mortgagor has reason to believe there is any such pending or threatened inw~stigation, claim, or proceeding. In such an event, Lender has the right, but not the obligation, to participate in any such proceeding including the right to receive copies of any documents relating to such proceedings. E. Except as previously disclosed an~':,~., acknowledged in writing m Lender, Mortgagor and every tenant have been, are and will remain in full compliance with any applicable Environmental Law. F. Except as previously disclosed and 'acknowledged in writing tu Lender, there are no underground storage tanks, private dumps or open wells located on or under the Prope~y and no such tank, dump or well will be added unless Lender first consents in writing. G. Mortgagor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and complied with. .-'~. · Mortgagor wdl permit, or cause a~y tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all recor ds at any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, under et about the Property; (2) the (~xmtence, location, nature, and magnitude of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environn~ental Law. DAVID Wyoming Mortgage WY/4brandiemOO815100004558014120904Y ©1996 Bankers Systems, Inc. St Cloud MN ~ I, Upon Lender's request and at any;-'~time, Mortgagor agrees, at Mortgager's expense, to engage a qualified environmental engineer to prepare an environmental audit of the Pr~q~erty and to submit the results of such audit to Lender, The choice of the environmental engineer who will perform such audit is subject to Lender's approval. J. Lender has the right, but not the obligation, to perform any of Mortgager's obligations under this section at Mortgager's expense. K. As a consequence of any breach"': of any representation, w~r~nty or promise made in this section, (1) Mortgagor will indemnify and hold '"~ ' ' L~p, der and Lender s succes.~ors or assigns harmless from and against all losses, claims, demands, liabilities, d~ages, cleanup, response and remediation costs, penalties and expenses, including without limitation all costs o'f itigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may ~;lease this Security Instrument and in return Mortgagor will provide Lender with collateral of at least equal wd~e to the Property secured by this Security Instrument without prejudice to any o~'~.Lender's rights under this S~curity Instrument. L. Notwithstanding any of the language contained in this Security I~s~rument to the contrary, the terms of this section will survive any foreclosure or satisfaction of this Security, h~strument regardless of any passage of title to Lender or any disposition by Lender of any or all of the Properw. Any claims and defenses to the contrary are hereby waived. 16. CONDEMNATION. Mortgagor will gi~e Lender prompt notice o~ ~,~y pending or threatened action by private or public entities to purchase or take any o~'~'all of the Property through condemnation, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgager'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 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 assignm~.~nt of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien docum~.n~. 17. INSURANCE. Mortgagor agrees to I~ep the Property insured against the risks reasonab y associated with the Property. Mortgagor will maintain thru m~urance m the amounts Le~ ~ ~'~ requires. This insurance will last until the Property ~s released from thru Secunty Instrument, What Lender req~i~es pursuant to the preceding two sentences can change during the term of the Secured Debts, Mortgagor may choose the insurance company, subject to Lender's approval, which will not be unreasonably withheld. All insurance policies and renewals will.[r~clude a standard "mortgage; clause" and, where applicable, "loss payee clause." If required by Lender, Mortgagbr agrees to maintain comp~¢hensive general liability insurance and rental loss or business interruption insurance in amounts and under polici~.s acceptable to Lender. The comprehensive general liability insurance must name Lender as an additional insured. The rental loss or business interruption insurance must be in an amount equal to at least coverage of one ye~'s debt service, and required escrow account deposits (if agreed to separately in writing.) Mortgagor will give Lender and the insurance company immediate notice of any loss. All insurance proceeds will be applied to restoration or repair of the:Property or to the Secured Debts, at Lender's option· If Lender acquires the Property' in damaged condition, Mortg'agor's rights to any insurance policies and proceeds will pass to Lender to the extent of the Secured Debts. Mortgagor will immediately notify Lender of cancellation or terminati~ of insurance. If Mortgagor fails to keep the Property insured Lender may obtain insurance to protect Lender's i~terest in the Property. This insurance may include coverages not originally required~of Mortgagor, may be written by a company other than one Mortgagor would choose, and may be written at...;a higher rate than Mortgarjor could obtain if Mortgagor purchased the insurance. - 18. ESCROW FOR TAXES AND INSURANCE. As provided in a sep~rate agreement, Mortgagor agrees to pay to Lender funds for taxes and insurance in escrow, 19. CO-SIGNERS. If Mortgagor signs t~!,s Security Instrument but does not sign the Secured Debts, Mortgagor does so only to mortgage Mortgagor'si:ihterest in the Property ~o .~;ecure payment of the Secured Debts and Mortgagor does not agree to be personally liable on the Secured [3~bts. If 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 indebted under 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, Mortgagor waives all homestead exemption rights relating to the Property. 21. APPLICABLE LAW. This Security Instrument is governed by lhe laws of Wyoming, except to the extent otherwise required by the laws of the jurisdiction where the Property is located, and the United States of America. 22. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Mortgager's obligations under this Security Instrument are independent of the obligations of any other Mortgagor. Lender may sue each Mortgagor individually or together with any other Mortgagor. ~ender may release any pa~t of the Property and Mortgagor will still be obligated under this Security Instrument~:for the remaining Property. The duties and benefits of this Security Instrument will bind and benefit the successors and assigns of Lende~ and Mortgagor. 23. AMENDMENT, INTEGRATION AND SEVERABILITY. This Security h~strument may not be amended or modified by oral agreement, No amendment or m,odificat on of this Security In,~trument is effective unless made in writing and executed by Mortgagor and Lender~;,!i This Security Instrument is the complete and final expression of the agreement. If any provision of this Security Instrument is unenforcc~d~le, then the unenforceable provision will be severed and the remaining provisions wi;I ,~till be enforceable. 24. INTERPRETATION. Whenever used,: the singular includes the plural and the plural includes the singular. The section headings are for convenience on.~/and are not to be used to interpret or define the terms of this Security Instrument. DAVID DUNN Wyoming Mortgage WY/4brandiemO0815100004558014120904Y ©1996 Bankers Systems, Inc, Initia~-~ Page 5 ~.[~. u-.. 0165 2§. NOTICE, FINANCIAl REPORTS AND, ADDITIONAl. DOCUMENTS. Unless otherwise required by law, any notice will be given by delivering it or m~iling it by first class mail t~, ~he appropriate party's address listed in the DATE AND PARTIFS section, or to any. 0fher.., address designated in wrmng. Notice to one party will be deemed to be notice to all parties. Mortgagor will jOform lender in writing of a~v change in Mortga§or's name, address or other application information. Mortgagor will provide Lender any fi~ancia[ statements or information lender requests. All financial statements and information Mortgagor cjiw,m lender will be correct and complete. Mortgagor agrees to sign, deliver, and file any additional documems or certifications that lender may consider necessary to perfect, continue, and preserve Mortcjagor's obligations under this Security Instrument and to confirm t. ender's lien status on any Property. lime is of the essence. SIGNATURES. By signing, Mortgagor agrees to the terms and cove~)an~s contained in this Security Instrument, Mortgagor also acknowledges receipt of a copy of this Security Instrument. MORTGAGOR: Authorized Signer CARRIE DUNN Individually LENDER: First National Bank - West ~ Do~Staley, Alton Loan-Officer A ACKNOWLEDGMENT, OF .. ,, , ' OF This instrument was acknowledged before this day DAVID DUNN,andCARRIE DUNN. My commission expires:(~2~h,:=~o (Notary Public) by (L Acknowledgment) t '/l , OF q)tCZ,z~, qF ,..- ~? "' This instrument was acknowledg~l~efore me this qf/~ da~/ 0i Don Staley as AftonMy commissionL°an OffiCerexpires:Of First.!~ c::~rG,=~O ],=,~.Nati°nal Bank - West. __ ~ (Notary Public) by DAVID DUNN Wyoming Mortgage WY/4brandiemO0815100004558014120904Y ©1996 Bankers Systems, Inc., St SCHEDULE C .... Oi6d That part of Lot 11 of the Schwab Addition to the Town ~fl' Afton, said addition being identical with Block 5 Lot 4 Original Townsite of Alton, being p'.trt ~1' that tract of record in the Office of the Clerk of Lincoln County in Book 122PR on page 705, described as follows: Beginning at the northwest comer of said Lot 11, marked hy a P-K nail in a split cedar post; thence S 88o14'04'' E, 165.00 feet, along the north linc ~fl' said Lot 11, to a bathey; thence S 01o45'56'. W, 117.12 feet, along the east line ~r said Lot 11, to a point; thence N 88o14'04'' W, 165.60 feet, parallel with the said ~t>rth line, to a point on the west line of said Lot 11; thence N 01o45'56'' E, 117.12 feet, along said west linc. to the corner of beginning. ALSO Lot 3 of Block 5 to Afton Townsite, Lincoln County, Wy~ning as described on the official plat thereof. LESS AND EXCEPT the land contained in Warranty Dccd recorded September 23, 1966 in Book 75PR on page 530 of the records of the Lincoln Ct~unty Clerk.