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HomeMy WebLinkAbout905315 RECEIVED 12/16/2004 at 12 29 PM RECEIVING # 905315 BOOK: 575 PAGE: 167 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, VVY Space Above This Line For Recording Data MORTGAGE (With Future Advance Clause) DATE AND PARTIES. The date of this Mortgage (Security Instru~nent) is December 9, 2004. The parties and their addresses are: MORTGAGOR: DAVID DUNN HUSBAND /~-~ A sole proprietorship P O BOX 1737 AFTON, Wyoming 83110 CARRIE DUNN WIFE ~_.. ,/~. P O BOX 1737 AFTON, Wyoming 83110 LENDER: FIRST NATIONAL BANK - WEST Organized and existing under the 19.WS of the United States of America 314 S Washington PO Box 1620 Alton, Wyoming 83110 TIN: 83-0162601 1, CONVEYANCE, For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debts and Mortgager's performance u~d~.~r this Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with the p~wer of sale, the following described property: SEE ATTACHED SCHEDULE "C" The property is located in LINCOLN County at 161 NORTH WASH NGTON, AFTON, Wyoming 83110. Together with all rights, easements, appurtenances, royalties, minera rights, oil and gas rights, crops, timber, all diversion payments or third party payments made to crop producers 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 ~emain in effect until the Secured Debts and all underlying agreements have been terminated in writing by Lender. 2. MAXIMUM OBLIGATION LIMIT. The {btal principal amount secured by 'this Security Instrument at any one time will not exceed $2§,201.00. This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation dot.~s 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 followingddebts and all extension,s, renewals, refinancings, modifications and replacements. A promissory note or other agreement, No. G1010527, dated December 9, 2004, from Mortgagor to Lender, with a maximum credit limit of $25,201.00, with an interest rate of 6.5 percent per year and maturing on January 1, 2006. One or more of the debts secured by this Security Instrument contains a future advance provision. B. All Debts. All present and future debts from Mortgagor to Lender, even if this Security Instrument is not specifically referenced, or if the futuc,e' debt is unrelated to or of a different type than this debt. If more than one person signs this Security Instrument, each agrees that i~ will secure debts incurred either individually or with others who may not sign this Security Instrument. Not ting 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 DAVID DUNN Wyoming Mortgmge ~ ~:~/"~j¢~ 1 Initia WY/4brandiemOO815100004§58013120904Y (q ©1996 Bankers Systems, n,: St Cloud, MN ~" Page 1 security interest in the Mortgager's principal dwelling that is (:;~:ated by this Security Instrument. This Security Instrument will not secure any debt for which a non-pos,%.ssory, non-purchase money security interest is created in "household goods" in connection with a "consum~ loan," as those terms are defined by federal law governing unfair and deceptive credit practices. This Security h)strument will not secure any debt for which a security interest is created in "margin stock", r,, and Lender doe,,~ not obtain a "statement of purpose," as defined and required by federal law governmg,'s'ecurities. C. Sums Advanced. All sums advar~.ced and expenses inc~fred 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'~;~gard to any other mo~jage, deed of trust, security agreement or other lien document that created a prior security interest or encumbram:~ 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 prir)~ written consent. 6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, as,~essments, 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 Mortgager's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Mortgagor agrees to assig'n to Lender, as reque,,;ted by Lender, any rights, claims or defenses Mortgagor may have against parties who:~,upply labor or material,~ to maintain or improve the Property. 7. DUE ON SALE OR ENCUMBRANCE. "~L,~nder may, at.its opti.~, 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 s~d)ject ~o the restrictions imposed by federal law (12 C.F.R. 591), as applicable. 8. WARRANTIES AND REPRESENTATIONS. Mortgagor makes to Lender the following warranties and representations which will continue as long as this Security Instm~)ent is in effect: A. Power. Mortgagor is duly organized, and validly existing and in good standing in all jurisdictions in which Mortgagor operates. Mortgagor has the power and authodly to enter into this transaction and to carry on Mortgager'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 '~nd performance of this Security Instrument and the obligation evidenced by this Security Instrument are within Mortgager'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 Mortga~jur is a party or to which Mortgagor is or any of Mortgager's property is subject. C. Name and Place of Business. O.t.'her than previously disch'~sed in writing to Lender, Mortgagor has not changed Mortgager's name or principal place of business within the last 10 years and has not used any other trade or fictitious name. Without Lender's prior written conse~d, Mortgagor does not and will not use any other name and will preserve Mortgager's e~'~ting name, trade nam{~.,; and franchises. 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mo~tflagor 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. Mortgag?~ will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupant;:{~ and use will not substantially change without Lender's prior written consent. Mortgagor will not.permit any Change in any license, r(;,';trictive 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 remove?, demolished or materi;dly altered without Lender's prior written consent except that Mortgagor has the right to remove items of personal property comprising a part of the Property that become worn or obsolete, provided that 'such personal property is replaced with other personal property at least equal in value to the replaced personal property, 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 Lend&Fs option, enter the Property at any reasonable time for the purpose of inspecting the Property. Lender will giv~ Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection.,~ny 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, witho0t notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortg~i~or'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 R"_ENTs. Mortgagor assi(jns, grants, bargains, conveys, mortgages and warrants to Lender as additional security'~i the right, title and inte~(;st in the following (Property). DAVID DUNN Wyoming Mortgage WY/4brandiemO0815100004558013120904Y ©1996 Bankers Systems, h~:., St. Cloud, MN F_~" InitiaI~~ Page 2 A. Fxisting or future leases, sublease'.s.~'i licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Propert¥?ihcludin9 but not limited to any extensions, renewals, modifications or replacements (Leases). B. Rents, issues and profits, including but not limited to sec~ ty deposits, minimum rents, percentage rents, additional rents, common area mainte.~ance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liq(JJ'dated damages followii~3 default, 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 a~v 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 personal property, this Assignment will also be regarded as a security agreement, Mo(~gagor will promptly provide Lender with copies of the Leases and will certify these Leases are true and corr~-~t 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. Mortgagor will not collect in adw~ce any Rents due in future lease periods, unless Mortgagor first obtains Lender's written consent. Upon default. Mortgagor will receive any Rents in trust for Lender and Mortgagor will not commingle the Rents with any other funds. When Lender so directs, Mortgagor will endorse and deliver any payments of Rents from the Property ~o Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts~the costs of managing, protecting and preserving the Property, and other necessary expenses. Mortgagor agrees tlpat this Security Instrument's immediately effective between Mortgagor and Lender. This Security Instrument will remain effective d~ ~ing any 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 Property without the necessi[y of commencing any e.qa action or o Mo · ~i,~ _ _ pr ceeding. Morr~gg~); sag~ee~u~th~tn;~eU~aPn(~Ss.e,ssl. O~i?f the Property is deem,ecl to occur when Lender notifies Mortgagor of ' s mat Mortgagor and Mortgagor s tenants pay all Rents due or to become due directly to Lender. Immediately after Lender gives Mortgagor ~he 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 i~ effect, Mortgagor war~ants and represents that no default exists under the Leases, and the parties subject to the Leases have not viol~ted any applicable law on leases, licenses and landlords and tenants. Mortgagor, at it~'t:sole cost and expense, will keep, observe and perform, and require all other parties to the Leases to comply wi:th the Leases and any Cqq)licable law. If Mortgagor or any party to the Lease defaults or fails to observe any applicable law, Mortgagor wil 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, cancul, or otherwise alter the Leases, or accept the surrender of the Property covered by the Leases (unless the I.eases so require) without Lender's consent· Mortgagor will not assign, compromise, subordinate or encumb~;~ the Leases and Rents without Lender's prior written consent· Lender does not assurffb or become liable for tl~e Property's maintenance, depreciation, or other losses or damages when Lender acts to m~anage, protect or pres~.~ve the Property, except for losses and damages due to Lender's gross negligence or intert.ii'onal torts. Otherwise, Mortgagor 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 Leases. 12. DEFAULT. Mortgagor will be in default if any of the following occur: A. Payments. Mortgagor fails to mak'~ 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 I'aw, the assignment for ~he 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, reorg~lnization, composition or debtor relief law by or against Mortgagor, Borrower, or any ~-signer, endorser, suretv or guarantor of this Security Instrument or any other obligations Borrower has with Leander. C. Death or Incompetency. Mortgagor dies or is declared legall¢ 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. £. Failure to Perform, Mortgagor fails to perform any condition or to keep any promise or covenant of this Security Instrument. F. Other Documents. A default occur'~,bnder 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 a material fact at the time it is made or provided. I. Judgment. Mortgagor fails to sat~s;,y.or appeal any judgment against Mortgagor. J. Forfeiture. The Property is used in a manner or for a purpose tiler threatens confiscation by a legal authority. K. Name Change. Mortgagor changes Mortgagor's name or ~,ssumes an additional name without notifying Lender before making such a change. L, Property Transfer. Mortgagor trar~..sfers all or a substantial part of Mortgagor's money or property. This condition of default, as it relates to tl~e transfer of the Prope~w, is subject to the restrictions contained in the DUE ON SALE section. M. Property Value. The value of the Property declines or is imp~ired. N. Material Change. Without first notifying Lender, there is a material change in Mortgagor's business, including ownership, management, and financial conditions. O. Insecurity. Lender reasonably believes that Lender is insecure. DAVID DUNN *~?' Wyoming Mortgage ~, ~ WY/4brandiemOO81§lOOOO45§801312ogo4Y ©1996 Bankers Systems mc St Clouo. MN ~x~" Initia Page 3 13. REMEDIES. Lender may use any ariel all remedies Lender h~s trader state or federal law or in any instrument evidencing or pertaining to the Secured Debts, including, without limitation, the power to soil the Property. Any amounts advanced on Mortgager's behalf will be immediately dtm and may be added to the balance owing under the Secured Debts. Lender may make a claim for any and all inst,anco benefits or refunds that may be available on Mortgager's default. Subject to any right to cure, required tirfi~ schedules or any other notice rights Mortgagor may have under federal and state law, Lender may make all dr any part of the amount owing by the terms of the Secured Debts immediately due and foreclose this Security Instrument 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. Under this special or limited warranty deed, Lender will covenant that Lender has not caused 'or allowedAa lien or an encumbrance to burden the Property and that Lender will specially warrant and defend the Propert~s title of the purchaser' o~ purchasers at the sale against all lawful claims and demand of all persons claiming by, :t-h'rough or under Lender. The recitals in any deed of conveyance will be prima facie evidence of the facts set forth4therein. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Leander 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,iiequire full and complete cure of any existing default. By not exercising any remedy, Lender does not waive Lender's right to later conside~ 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 df collection, enforcement or protection of Lender's rights and remedies under this Security Instrument. Mortgag~ 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, attorneys' fees, court costs and other legal expenses. 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 ~l~e 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 hny court exercising jurisdiction under the Bankruptcy Code. 1,5. ENVIRONMENTAL LAWS AND HAZarDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehe~nSive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and local laws, ~egulations, 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 substanct~ dangerous or potentially dangerous to the public health, safety, welfare or environmenf:' 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:!acknowledged in writing to Lender, no Hazardous Substance has been, is, or will be located, transported, manuf~:tured, treated, refined, or handled by any person on, under or about the Property, except in the ordinary course of business and in strict compliance with all applicable Environmental Law. B. Except as previously disclosed and acknowledged in writing ~o Lender, Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. C. Mortgagor will immediately notifya. Lender if (1) a release or threatened release of Hazardous Substance occurs on, under or about the Property:or migrates or threatens to migrate from nearby property; or (2) there is a violation of any Environmental La~ concerning the Property. In such an event, Mortgagor Will take all necessary remedial action in accordan(~' with Environmental Law. D. Except as previously disclosed and acknowledged in writintj lo Lender, Mortgagor has no knowledge of or reason to believe there is any pending' or threatened investigatim~, claim, or proceeding of any kind relating to (1) any Hazardous Substance Iocated.'0n, under or about the Prnperty; or (2) any violation by Mort a or or an L ' ~'~'~ .... g g Y tenant of any Environmental aw. ,~.ortgagor wdl ~mmedmtely notify Lender in writing as soon as Mortgagor has reason to believe there is any such pending or threatened investigation, 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 and acknowledged in writing to Lender, Mortgagor and every tenant have been, are and will remain in full compli~tnce with any applicab e [:nv ronmental Law re ' ' ~ ~' ' F. Except as p wously d~sclosed an~.acknowledged in writinrj to Lender, there are no underground storage tanks, private dumps or open wells located on or under the Property 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. ~.. H. Mortgagor will permit, or cause a'h'y~:;~,, tenant to ~.nermlt.,, Lender or Lender's agent to enter and inspect the Property and review all records at am/. reasonable t~me to determine (1) the existence, location and nature of any Hazardous Substance on, under °~'¢about the Property; (2) tim existence, location, nature, and magnitude of any Hazardous Substance that has' been released on, under ~ about the Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environmental Law. DAVID DUNN Wyoming Mortgage WY/4brandiemO0815100004558013120904Y ©1996 Bankers Systems, In<, St, Cloud, MN Initial~ Page 4 I. Upon Lender's request and at an~'t me, Mortgagor agrees, at Mortgager's expense, to engage a qualified environmental engineer to prepare an environmental audit of the Property 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. I(. As a consequence of any breach of any representation, warranty or promise made in this section, (1) Mortgagor will indemnify and hold L~',nder and Lender's succ~ssors or assigns harmless from and against all losses, claims, demands, liabilities, da:,~ages, cleanup, respon,~e and remediation costs, penalties and expenses, including without limitation all costs Of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender ~,y release this Security Instrument and in return Mortgagor will provide Lender with collateral of at least equal value to the Property secured by this Security Instrument without prejudice to any of,,,Lender's rights under this Security Instrument. L. Notwithstanding any of the langua~ contained in this Security Instrument to the contrary, the terms of this section will survive any foreclosure or satisfaction of this Secu~iW Instrument regardless of any passage of title to Lender or any disposition by Lender of any or all of the Pr~q~erty. Any claims and defenses to the contrary are hereby waived. 16. CONDEMNATION. Mortgagor will gi~,e Lender prompt notice ~f any pending or threatened action by private or public entities to purchase or take any oi:~all of the Property thro~gh condemnation, eminent domain, or any other means. Mortgagor authorizes Lender t?~ntervene in Mortgager's ~ame in any of the above described actions or claims. Mortgagor assigns to Lender '~he proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. S~ch proceeds will be considered payments and will be applied as provided in this Security Instrument. This assig~nent of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 17. INSURANCE. Mortgagor agrees to ~ep the Property insured against the risks reasonably associated with the . . Property. Mortgagor will maintain th~s insurance in the amounts tt-~der requires. This insurance will last until the Property is released from this Security I~;J'rument What kendar requires pursuant to the preceding two sentences can change during the term of the Secfred Debts. Mortgagor may choose the insurance company, subject to Lender s approval, which will not be unreasonably withheld. All insurance policies and renewals will ~pclude a standard "mores,Se clause" and, where applicable, "loss payee clause." If required by kender, Mortgaq;~ agrees to maintain comprehensive general liability insurance and rental loss or business interruption insurance m amounts and under polit-:ios acceptable to kender. The comprehensive general liability insurance must name kender as an additional in,~red. The rental loss or business interruption insurance must be in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing.) Mortgagor will give kender and the insur;ance company immediatf~ notice of any loss. All insurance proceeds will be applied to restoration or repair of the ;Property or to the Secur~d Debts, at kender's option. If kender acquires the Property in damaged condition, Mortgager's rights to any insurance policies and proceeds will pass to kender to the extent of the Secured Debts. Mortgagor will immediately notify kender of cancellation or termin,tion of insurance. If Mortgagor fails to keep the Property insured kender may obtain insurance to protect kender'~ interest in the Property. This insurance may include coverages not orioinally required of Mortgagor, may be w~itten by a company other than one Mortgagor would choose, and may be written at ;a higher rate than Mortg,gor could obtain if Mortgagor purchased the 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 t~is Security Instrument bt~t does not sign the Secured Debts, Mortgagor does so only to mortgage Mortgagor's&]~Dterest in the Property to secure payment of the Secured Debts and Mortgagor does not agree to be person*ally liable on the Secured Debts. 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, OTHER TERMS. The following are applicable to this Security h~s~ument: A. Line of Credit. The Secured Debts include a revolving line of credit provision. Although the Secured Debts may be reduced to a zero balance, this Security Instrument will remain in effect until the Secured Debts and all underlying agreements have been terminated in writing by Lender. 22. APPLICABLE LAW. This Security Instrument is governed by the laws of Wyoming, except to the extent otherwise required by the laws of the juri~]~iction where the Property is located, and the United States of America. 23. JOINT AND INDIVIDUAL LIABILITY~ND SUCCESSORS. Eacl~ Mortgager's obligations under this Security Instrument are independent of the obligations of any other Mortgag~. Lender may sue each Mortgagor individually or together with any other Mortgagor. Lender may release any Im~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 Lend~r and Mortgagor, 24. AMENDMENT, INTEGRATION AND 8EVERABILITY. This Sect, ity Instrument may not be amended or modified by oral agreement. No amendment or modification of this Security Instrument is effective unless made in writing and executed by Mortgagor and Lender. This Security Instrume~t is the complete and final expression of the ' DAVID DUNN Wyoming Mortgage ' ~ Initi WY/4brandiemO0815100004558013120904Y ©1996 Bankers Systems. nc , St. Cloud, MN ~.x.'~M ........ -~- Page 5 agreement. If any provision of this Security Instrument is unenforceable, then the unenforc~alSle I~f-ovision will be sevBred and the remaininfl provisions will ~fill b~ ~nlor~abl~. Wh~n~wr us~d,.Ih~ singular includes the plura and th~ ~lural ~neludes th~ sMflular. Th~ section headings are for convemence only, and are not to be used to interpret or define the terms of this Security Instrument. ~'~.'~ 26. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any notice will be given by delivering it or ma ng it by first class mail to the appropriate party's address listed in the P ' ~ ATE AND PARTIES section, or to any ~t~er address designated in writing. Notice to one party will be deemed to be notice to all parties. Mortgagor will'~form Lender 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 docurrmnts or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and to confirm Lender's lien status on any Property. Ti~'~ is of the essence. SIGNATURES. By signing, Mortgagor agr'ees to the terms and covenants contained in this Security Instrument. Mortgagor also acknowledges receipt of a copy of this Security Instrument. MORTGAGOR: Authorized Signer '~ CARRIE DUNN Individua Ily LENDER: First National Bank - West Do"6-~taley,'Afton Loan Office?" ACKNOWLEDGMENT, OF This instrument was acknowledged I~efor,.e me this [ DAVID DUNN,andCARRIE DUNN. My commission expires:~(,.~ (Notary Public) by DAVID DUNN Wyoming Mortgage WY/4brandiemO0815100004558013120904Y ©1996 Bankers Systems, Inc St Clout, MN E~" pag~-~6~ instrument was acknowledsed'befdre me this Don Staley as Afton Loan Officer of First National Bank g West. My commission expires:~_.)~;~:::~ &N~LEY &ANI:)A~ · NOTAR3' PUSUC (Notary Public) by DAVID DUNN Wyoming Mortgage WY/4brandiemO0815100004558013120904Y ©1996 Bankers Systems, n,; St Cloua, MN F_~M Initial~~ Page 7 :. ;::"!'"'{:5" :"Z:"i' ' i :,_ :: ' ::';':':.' ..... ....... .::, ;;2k,::i, .' SCHEDULE C That part of Lot 11 of the Schwab Addition to the Town o1' Alton, said addition being identical with Block 5 Lot 4 Original Townsite of Alton, being lmrt of 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 corner of said Lot 11, marked by a P-K nail in a split cedar post; thence S 88014'04.' E, 165.00 feet, along the north linc of said Lot 11, to a bathey; thence S 01045'56.. W, 117.12 feet, along the east linc oI' said Lot 11, to a point; thence N 88014'04'' W, 165.60 feet, parallel with the xaid north line, to a point on the west line of said Lot 11; thence N 01045'56.' E, 117.12 feet, along said west linc. to the corner of beginning. ALSO Lot 3 of Block 5 to Afton Townsite, Lincoln County, ~Vyoming as described on the official plat thereof. LESS AND EXCEPT the land contained in Warranty I)eed recorded September 23, 1966 in Book 75PR on page 530 of the records of the Lincoln County Clerk. Loan Number: 3733978 ASSIGNMENT OF MORTGAGE / DEED OF TRUSrl and PROMISSORY NOTE This Instrument Prepared by: National City Mortgage Co. MAIL TO: National City Mortgage Co. Wholesale Department 3232 Newmark Drive Miami~burg, OH 45342 RECEIVED 1211612004 at 12:31 PM RECEIVING # 905317 BOOk, 575 PAGE: 176 JEANNE WAG NER LINCOLN cOUNTY CLERK, KEMMERER, WY FOR VALUE RECEIVED Guardian Mortgage Inc ("BANK") hereby sells, transfers, sets over and assigns to: NATIONAL CITY MORTGAGE CO., 3232 Newmark Drive. h li a nfisbu rg, OH 45342, its successors and/or assigns, Bank's entire right, title, and interest in and to the following describe, I ,, ~,,rtgage ("Mortgage") and promissory note ("Promissory Note") which are dated 12/10/04 In th~ ,~ is, mai principal mount of$ 117,000 The Mortgage is described and identified by the following name(s) (~ ~nc mortgagor(s), Instrument number, and/or book and page number as recorded in Lincoln County, Wyoming,, MORTGAGOR(S) INSTRU Orval A. Rice 905254 Nancy A. Rice 905254 iNT NO. BOOK PAGE 574 716 574 716 IN TESTIMONYWHEREOF, said Guardian Mort.g:~t~: Inc has hereunto set its hand this 10th day of December 2004 Typed Name STATE OF UTAH By:_ SalI Title: JILL \V( )1 .I..SCHLEGER / ~---~N] il ()I'ERATIONS MANAGER/ COUNTY OF SALT LAKE SS: The foregoing instrument was acknowledged before me this 1 () t t _ day of December 2004 , by JILL WOLLSCHLEGER as BRANCH OPERATIONS MANAGFI.~ ,,n behalf of Guardian Mortgage Ina Notary Public SHAUNA E. CURTIS 3980 South Vernon Circle ~R ~ke CiW, U~ ~124 My Commi~lon ~plr~ March 26. 2~7 stero of Utmh ~mmmmmmmamm{ NOTARY PUBLIC Comm ss o Expira.,,, (220/07