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Home My WebLink About905838 RECEIVED 1/12/2005 at 2:00 PM RECEIVING # 905838 BOOK: 577 PAGE: 64 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 0064 AFTER RECORDING RETURN TO: Washington Federal Savings P 0 Box 51750 500 N Capital Idaho Falls ID 83405 Attention: Ronna Lee Loan Number 044 209 298004 3 Title Company Rocky Mountain Title Order Number A6014 THIS MORTGAGE ("Security Instrument") is n~ach.' SHORT FORM MORTGAGE AND FIXTUR E FILING WITH ASSIGNMENT OF LEASES, RENTS AND ACCO January j~-, 2005t (Vv'ITH POWER OF SALE), SECURITY AGREEMENT Salt River Homes. LLC, a Wyomi,n?_LJ. mited l.iebi]ity Company BETWEEN as Mortgagor ("Borrower"), whose address is P 0 Box 369a Alpine WY and WA$IIINGTON FEDERAL SAVINGS, a United States 500 N Capital Ave Idaho FaJ~q ~1) 83402 83128 ; Corporation, as Mortgagee ("Lender"), whose address is Borrower hereby irrevocably mortgages, warrants, grants, bargains, sells and conveys to Lender and its successors and assigns, with power of sale and with right of entry and p,,sscssion as provided herein and by Wyoming law, all Borrower's estate, right, title, interest, claim and demand, now owned or hcrc',d'ter acquired, in and to the following described property in Lincoln County, Wyoming t the "Property", which term shall include all or any part of the Property, any improvements thereon and all the property descrihcd in Paragraph 2 of the Master Form Mortgage hereinafter referred to): Lot 204 of Nordic Ranches DivJs~o~ ?h~. !3, Linco!n County Wyoming as describo_d on the official plat thereof which has the address of 157 Spur Lc~()I) Etna, WY 83118 TOGETHER WITH all the tenements, hc~t'ditaments and appurtenances, now or hereafter thereunto belonging or in any way appertaining, leases and other agreements for ~l~c' use and occupancy pertaining thereto, and the rents, issues and profits thereof and all other property or rights of any kind or nature whatsoever further set forth in the Master Form Mortgage hereinafter referred to, SUBJECT, HOWEVER, to the right, power and :mthority hereinafter given to and conferred upon Lender to collect and apply such rents, issues and profits. This Security Instrument shall constitute , security agreement under the Uniform Commercial Code of Wyoming between Borrower as debtor and Lender as secured pv~!i.', l~,,'rower grants a security interest to Lender in any of the Property which is personal property and also grants a security interest in the property described in Paragraph 3 of the Master Form Mortgage hereinafter referred to, now owned or hereafter a cq.i red by Borrower (the Property, as defined above, and the property described in said Paragraph 3 are hereafter collectively referred lo as the "Collateral"). THIS SECURITY INSTRUMENT IS FOR 11 IE PURPOSE OF SECURING the following: (a) Payment of the sum of ******One Hundred Seventy Si>: Tholm~,t Eight- 14,,nrlro,q n~_l_J_~,-s 9r?d No/ID0********** DOLLARS ($ **176. ~laa. ~0'****), with interest thereon according to the terms of a promissory note of even date herewith, payable to Lender or order and made by Borrower (the "Note", which term shall include all notes evidencing the indebtedness securl~ by this Security Instrument, including all renewals, mod i fica t ions or extensions thereof);Borrower's Initial~ ~~ (Page 1 of 3) LO~ 75-T (WY) b) Payment of any further sums advanced or loaned by Lender to Borrower, or any of its successors or assigns, if (1) the Note or other writing evidencing the future advance ~,r loan specifically states that it is secured by this Security Instrument, or (2) the advance, including costs and expenses incurred ~x Lender, is made pursuant to this Security Instrument or any other documents executed by Borrower evidencing, securing, or relating to the Note and/or the Collateral, whether executed prior to, contemporaneously with, or subsequent to this Sccu ~i~y Instrument (this Security Instrument, the Note and such other documents, including any construction loan, land loan or ~,lhcr loan agreement, are hereinafter collectively referred to as the "Loan Documents"), together with interest thereon at thc ~-:~c set forth in the Note unless otherwise specified in the Loan Documents or agreed to in writing; c) Performance of each agreement, tc,'m and condition set forth or incorporated by reference in the Loan Documents, including without limitation the loan agreement of' {,yen date herewith, which are incorporated herein by reference or contained herein. THE MATURITY DATE OF THESE S I!~'ItRED OBLIGATIONS, AS CONTAINED IN THE LOAN DOCUMENTS, INCLUDING THE NOTE, IS 3'anuar By executing and delivering this Security Instrument and the Note secured hereby, the parties agree that all provisions of Paragraphs 1 through 69 inclusive of the Master l:~,rm Mortgage hereinafter referred to, except such paragraphs as are specifically excluded or modified herein, are hereby incorporalcd herein by reference and made an integral part hereof for all purposes the same as if set forth herein at length, and the Borrower hereby makes said covenants and agrees to fully perform all of said provisions. The Master Form Mortgage above referred to was rcc{~rded on the dates below shown, in the Official Records of the offices of the County Clerks of the following counties in the St;~tt: ,,f Wyoming according to the enumerated recordation designations appearing below after the name of each county, to wit: COUNTY BOOK OR VOLUME PAGE NO. RECORDING NO. DATE OF RECORDING LINCOLN 374PR 644-655 809964 October 16, 1995 TETON 310 1174-1185 0404875 October ! 1, 1995 A copy of such Master Form Mortgage has been furnished to the person executing this Security Instrument, and by executing this Security Instrument the Borrower ack ~,wledges having received such Master Form Mortgage. The Property which is the subject of this Security Instrument is not used principally or primarily for agricultural or fanning purposes. The undersigned Borrower requests that a copy of any Notice of Default and of any Notice of Sale hereunder, as required by Wyoming law for the foreclosure of a mortgage ~x'ith power of sale, be mailed to Borrower at Borrower's address as hereinabove set forth. Borrower agrees to obtain all insurance required from time to time by Lender and as elsewhere provided in the Loan Documents, including flood insurance. If Borroxvcr fails to maintain such insurance satisfactory to the Lender, Lender may make the payment on behalf of the Borrower and any sums expended shall be added to principal and bear interest at the rate provided in the Note. If the box preceding any of the following statemcnls contains an "X", that statement is a part of this Security Instrument. If the box is no__[t so checked, the corresponding statement is u~,__!t part of this Security Instrument. [--'] Paragraph 49 of the Master Form Mortgage Iwhich refers to the existence, if any, of an adjustable rate feature in the Note) is hereby deleted. [-~ The Note secured hereby evidences a construction loan or land loan but is not a combination Note. Paragraph 53 of the Master Form Mortgage is hereby deleted. The Note secured hereby is a combination c,mstruction loan/permanent loan Note. Refer to paragraph 53 of the Master Form Mortgage. [--] The Property or a part thereof is a Condominium. Refer to paragraph 50 of the Master Form Mortgage. [-'-] A fee owner and a leasehold owner of the Pr,,pcrty, or a portion thereof, have executed this Security Instrument. Refer to paragraph 51 of the Master Form Mortgage [--] The Property or a part thereof is a leasehold cslate. Refer to paragraph 52 of the Master Form Mortgage. [~] See also Schedule "A" of this Short Form M~,rtgage, attached hereto and incorporated herein by this reference. (Page 2of3) 0 05S8S :. 0 C 65 WITNESS the hand(s) and seal(s) of the Borrower, and each of them if IIBH'C dmn one, on the day and year first above written. ~~a ry & Managing Member STATE OF ) ) SS. COUNTY OF ) I certify that I know or have satisfactory evidence that [Name(s) of pets.tit5 ~1 is/are the person(s) who appeared before me, and said person(s) ack~l,,xxlcdgcd that (he/she/they) signed this instrument and acknowledged it to be (his/her/their) free and voluntary act for the uses ami purposes mentioned in the instrument. Dated: (Seal or Stamp) (Signature) Notary Public in and for the State of residing at ,~1~ comnfission expires STATE OF Idaho ) ) SS. COUNTY OF Bonneville ) Icertify thatlknow orhavesatisfactory evidence that Joseph BelJ_off Laurence B Reinhart [Name(s) of pers~,li s }l is/are the person(s) who appeared before me, and said person(s) acknox~ lodged that (he/she/theY) signed this instrument, on oath stated that (he/she/they) was/were authorized to execute the instrument and acknowledged it as the President and Secretary and Managing (Type of Authority, e.g., Olliccr, Trustee) of Salt River Hom~.s LLC (Name of the Party on Behal.(of-Wh6r/{ thc h~stl'ument ~ay:.:Eit$-'~t¢¢) to be the free and voluntary actof such party for the us~s and purposes n/clltioucd ill the..[~nsI~., ffi~nt. / I/ Dated:. .,, ......................... _.. ' ' (Signature) (Seal or Stamp) ..' Nt}tary Public in and for the State of Idaho residing at Idaho Falls NI3 conmfission expires 10-12 06 (Page 3 of 3) LO175-T (WY)