HomeMy WebLinkAbout906777FEB-03-2005 ~'HU'" 10:04 ~li I~ELLS FSRGO B~NK Na F~X NO,
3078869488 P, 11
t,Z 0843
RECORDATION REQUESTED BY;
Walb Fargo Bank, Nadon~l A;eoc,~ti~n
Alton Business I~nking C~nter
485 Washington
MAC #C7826.011
Alton, ~ 83114
WHEN RECORDED MAIL TO:
Wella F~rgo Bank, Nntlonai Aaeoo~atlon
BBG- Boise Loan Oparation~ Canter, MAC ;~J1BB1-016
3033 Elder STreet
Boise, ID B370S
RECEIVED 2/28/2005 at 2:57 PM
RECEIVING # 906777
BOOK: 579 PAGE: 843
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
THIS LINE IS..r~R RECORDEI~'{~ ~JEIB ONL~
2OOO39498S70¢00490
CONSTRUCTION MORTGAGE
THIS MORTGAGE dated February 3, 2005, is made and executed between Milan Fillmore, also shown of record as
Milan Kerry Fillmore, whose address is 1850 Lincoln Street, Saint Paul, MN 55101-1410 (referred to below as
"Grantor") and Wells Fargo Bank, National Association, whose address is 485 Washington, MAC #C7826-011,
Alton, WY 83114 (referred to below as 'Lender").
GRANT OF MORTGAGE. Foe valuable cor~ideradon, Grafter mortgages and c~vey~ te Lender all of Grunter's right, title, and Interest In and to
the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all
easements, rights of way, and appurtenances; ell water, WaIQr rights~ watercourses and ditch rights (including stock in utilities with ditch or
irrigation rights); and all other rights, royalties, and profits relating to the reel property~ including without limitation all minerals, oil, gas,
geothermal and similar ma[tare. (~he 'Real Rroperty") located in Uncoln County, Stale eT Wyoming:
Lot 99 in Star Valley Ranch Plat 7, Lincoln County, Wyoming as described on the official plat thereof.
The Real Property_or its address is commonly known al 148 Redwood Road, Thayna, WY 83127. The Real
Property tax identification number is 35183040113800
CROSS-COLLATERALIZATION. In addition ~o ~a Note, this Mortg&ga secures all obligations, debts and liabilities, plus Interest thereon, of
Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now
existing or hereafter arlslng~ whether related or unrelated to thc purpose of the Note. whether voluntary or Otherwise, whether due or not due,
djre¢~ or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated whether Grantor may be liable Jndlv[dualiy or
Jointly with others, whether obligated as guarantor, surety, e~commodation party or otherwise, and whether recovery upon such amounts may
be or hereafter may become barred by any statute of limitations, and whether the obliga[Jo~ to repay such amounts may be or hereafter may
become otherwise unenforceable. If the Lander ~s required to give notice of the r{ght to cancel under Truth In Lending In =onne¢flon with any
additional loans, extensions of credit and other Ilsb[lttlas or obllgation~ of Grantor to Lender, then this Mortgage shall not secure additional loans
or obligations unless and until such notice la given.
Grantor presently assigns to Lender all of Grunter's right, title, end interest in and to all present and future leases of the Property and all Rents
from the Property. In addition, Gramor grants lo Lender a Uniform Commercial Code security interest in the Personal Property end Rents.
THIS MORTGAGE. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE REN'rE AND PERSONAL PROPERTY, IS
GIVEN TO SECURE (Al PAYMENT OF THE INDEBTk-~NESB AND (Bi PERFORMANCE OF ANY AND ALL OI~LIGATIONS UNDER THE NOTE,
THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MOI~TGAGE IS GIVEN AND ACCEPTED ON 'file FOLL0WlN(] TERMS=
PAYMENT AND PERFORMANCE. £xCept as otherwise provided i~ th]~ Me,gage, Grantor shall pay to Lander all amounts secured by this
Mortgage as they become due and shall strictly parfom~ all of Greeter's obligations under this Mortgage.
CONSTRUCTION MORTGAGE. This Morlgaga is · 'construction ruer[gage' for the purposes of Sec[ions 9-334 and 2A-309 o! the Uniform
Commercial Code, se those eec[lone have been adopted by the State of wyoming.
POSSF~SlON AND MAINTENANCE OF THE PRQPERTY. (3ranter agrees that Grunter's possession end uae of the Property Shall be governed by
the following provisions:
Possession and Use; Until ~la o~currenea of an Event of Default, Grantor may (1i remain In Possession and control of the Property; (2)
usa, ope[ate or manege the Property= and (3) collect the Rents from the Property.
Duty to Maintain. Grantor shall maintain the Property in good condition and promptly pedorm all repairs, replacements, and maintenance
necessary to preserve its value.
Com~lanea With Envirgnmental Laws. Grantor represents and warrants to Lender that: (li During the period of Grantor'~ ownership of
the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any H~zardoua
Subs[enos by any person on, under, about or from the Property= (2} Grantor has no knowledge of, or reason to believe that there has
been, except as previously disclosed to and acknowledged by Lander In wr{ting~ (a) any brauch or violation.of any Environmental Laws,
(bi any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardo~ Substance on, un,let,
about or from the Property bv any prior owne~ or occupan~ of *,he Property, or (o) any actual or thrsstened litigation or claims of any
FEB-03-2005
THU 10:05 R~ NELL$
F~RGO B~NK N~
F,qX NO, 07 869 8 P, 12
,' "" ~' ~'"i MORTGAGE
Loan No.' New (L~:~ '~L~
(Continued) '--' ~,-. 0 8 '~ ~ Page
kind by any parson relating to such ma~ers; a~ (3) ~cept as previously dlsclos~ to a~ acknowledged by Lender in writing, ia) neither
Granto~ nor any tenant, contractor, agent or othe~ aut~Hzad user of ~e Prope~ shall use, ~e~era~e~ manufa~ura, store, treat, dispose of
or release any Hazardous Substance on, under, aborn o~ from ~ Pro~rty; and (bi any such a~tJvl~ ~hall be conducted In compliance
with all applieable federal, state, and lees[ laws, regulations a~ ordinances, including w~thout limitation ail Environmental Laws. Grantor
authorize~ LePer and its a~ents to enter upon ~he Prope~ to make ~ueh ins~c~ons and tests, at Grantor's ex. nee, as Lender may deem
appropriate to determi~ Gemplienea of the Pro~ w[~ this sec[ion of ~e ~or~gaga. Any Ins~cdons o~ tests made by Lender shall be
lot Lender'~ purposes only and shall ~t be co~tru~ to ore=to a~y tes~nsibili~ or liability O~ ~e par ct Lende~ ~o Gran~r or to any o~har
~rson. The representations and warranties contained herein are based on Grantor's due dii'igeflce in investigating the Pro~ for
Hazardo~ Substances. Grl~ot hereby (1) relea~e~ and waives any ~ure claims against Lander for ]~demni~ or con~ibufion in the
event Grantor becomes liable for glea~up o~ o~er costs under a~y ~uch laws; a~ (~) agree to indemnify and hold harmless Lender
a~alnst any ~ all claims, losses, liabilities, damages, ~nalties. a~ ex.ness which LePer ~ay directly or Indirectly sustai~ or suffer
resulting from a brea~h of thl~ ~aetion of the Mo~gage or as a consequen~ of any ~e, generation, manufacture/storage, die.ssi,
o~ threatened ~eleaee o~ou~ng prior to Grantor's ownership or Interest in ~ Pro~, whether o~ not ~e same w~ or should have
know~ ~o Grantor. The provi~]on~ ef this section of ~e Mo~ga~e. [nel~[ng the obligation te indemnify, shall su~ive the payment of
Indebtedness and the satisfaction a~ re~nveya~ea of the lien of thl~ Mortgage and shall not be affe~ed by Lander's acquisition of any
interest Iff the Pro~y, whether by foreclosure or
Nuisance, Waste. Grantor lhall not cause, conduGt or pet~it a~y nuisance nor commit, pa~mlt~ o~ suffer any stripping of or waste on or
t~ Pto~ or any po~[on of t~ Property. Without lim~ing the gane~allty of the foregoing, Granter will not remove, or grapt ~o a~y other
pa~ the right to remove, any timber, ml~ral; (Including oil and gas), coal, clay, scoria, soil. gravel or roek pt~ucts without Lender~ prior
wrJ~en
~emo~ of Improvement. Gran<or S~II ~t demolish or remove any improvements ~om the Real Pto~ wJ~out Lender's prior written
co~se~t. As a condition to the removal of a~y Imp~ovemant~, Lender may require Grantor to make arrangements ~atisfacto~ to Lander
replace ~uch Improvements wJ~h lmprovemen~ of at Jea~t equal value.
Loner's Right to Enter. Lender and Lender's agent, and repre~ntaflve$ ~ey e~ta~ u~n the Real Prope~ at ~11 ~aasonable times to
to Lender's ~ntetests and to inspect ~e Real Pro~y for p~tposes of Grantor's ~omplla~ce with the terms and condlflon~ of ~is Mo~gage.
Compl~n~ w~ Gover~l ReCreant. Grantor shall promptly comply with ali laws, or~inanges, a~ regulation, now or hereafter
in effect, ef all governmental authorkiea applicable to the use or occupanGy of t~ P~O~. Grantor may con, est IR good fai~ any such
law~ ordinance, or regulation and wkhhold compliance during any proceeding, inGluding appropriate ap~als, so long as Grantor ha~ notified
Lender Jn writing prior to doing so a~ so long a~, in Len~er'~ ~oJe opinion, Lender's Intares~ in ~e Prope~y ara not jeopardize. Lender
may require Grantor to po~t adjusts seeuH~ o~ a su~e~ bond, reasonably safi~faeto~ to Lender, to prote~t Lender's ~Rtere~t.
~ty to Pr~e~. Grantor agrees neither to abandon ct leave una~e~ed the Prope~. Grantor shall do all other acts, in addition tO those
acts set fo~h above In this section, which from the =haractet and use of ~e P~ope~ are reasonably ~ea~ary to prote~ and presage the
Proart.
CONSTRUCTION LOAN. If ~ome or all of t~ O~oceeds of ~e loan ~read~ the Indebtedness ate to be used to construct or complete
construction of any Improvements on t~ Prope~, t~ I~ptovama~ts shall ~ completed no later than ~e ~atutity date of the Note (or
aaH[ar da~e a~ Lender may ~easonabN establish) and Grantor shall pay in full all costs and ex~nsc~ in oonReotion with the work. Lender will
disburse loan prooeeds under ~uoh term6 a~ eondlflo~ a~ LePer may deem reasonably naoassa~ to insure ~at the interest created by
Mo~gage shall have pHorl~ over all ~ealble liens, Incl~i~ ~osa ct material suppliers and workmen. Le~dar may require, amo~ other things.
that disbursement rcques~ ~ supposed by ~eoeipted bill~, expense affidavit, waivers of liens, construction pr~te~s ta~s, and such other
documentation as Lender may reasonably r~uest.
~E ON 6ALE - CON6ENT BY L~DER. Lander may. at Lender'~ option, deolare Immedle~ely due and payable all sums secured ~y this
Mo~gage upon the ~ala or transfer, wkhout Lender's prior wdtten consent, of all or any pa~ of ~e Real P~o~y, ct any interest in the Real
Prope~, A "sale or trane/er" mea~ the ~onve~ance of Ra~l Propa~y or any right, title or ~nterest in ~a Real Prope~y; whe~e~ legal, beneficial
o~ equitable; whethe~ voluntary or involunta~; whaler ~y o~Igh[ ~ele, deed, iq~tallmant ~ala contract, land contract, contram for deed,
leave. Id interest wi~h a te~m greater ~a~ three (3) yea~, lease~pdon oon~agt, or by .all, as~lg~ment~ o~ ~a~sfa~ ct any bene~cial interest
or to any land trua~ holdi~ tide to the Real P~ope~, o~ by any other method of conveyance of an interes~ tn the Real Prope~y. However, this
option shall not ~ exercised by Lender If such exercise I~ prohibited by federal law or by Wyoming law.
T~E6 AND LIENS. The followi~ provisions relating to ~ taxes and lien~ on the Pro~y are pa~ o~ this Mortgage:
Fayme~. Grantor ~hall pay w~n due (a~ i~ ell even~ pt]o~ to delinq~ncy} all t~es, ~ayroll taxes, special ~xes, assessments, wate~
charges and sewer set.ce charges levied against or on accoun~ of ~e Propa~, and shall pay when due all claims for work done on Or for
so.ices rendered or material furnish~ te the Pro~. Grantor shall maintain the Prope~ flee of any liens having priori~ over or equal to
the i~tera~t Of Lender u~er thi~ Mo~gagl. Ixeap[ for ~sa lia~s specifically agreed to In wr~in~ by Lender, a~ ex~ep[ for ~e llen of
and a~e3~ments not due as fu~h0r s~oified in the Right to Con,est paragraph.
Right to Com~. G~antot may withhold payment o~ any t~, assessment, or ~lalm In connection wlt~ a good faith dispute over the
obligation to pay. ~o long a~ Lender'S interest in ~e Pro~ ~s not Jeopardized. If a lien arises or is filed as a result of nonpayment,
Grantor shall within fifteen (15) days a~er the lien arises or, if a lien ia filed, w~hin fi~ean (15) days after Grantor has ~tice of the fil~ng.
secure the discharge ct the I~en~ or if requested by La.der, deposit with LePer cash or a ~uffiGlent corporate sure~ bo~ or other
eould a~=rue aea result of a foreglosure or sale under the lien. In any ~o~teat. GrantOr ~hall dafa~ i~salf and Le~dat and shall satis~ any
adverse judgment ~fore enforcement against the Prope~. Grantor ~haJl name Lender ae an addlt~onal obliges u~der any sure~ bond
~mlshed In the contest proceedl~s.
E~e~e of Pa~em. G~anto~ shall u~n dema~ furnish to Lender 3ati~faoto~ evidence of payment of the ~es ct assessments a~d shall
a~horize the appropriate governmental official to deliver to Lender at any time a wr~en statement of the taxes and ese~sman~s against
~a Prope~y.
N~ce of Co~u~n. Grantor shall ~fify Lender at least fifteen ~15) day~ ~fom any work is commenced, any so.Joes are furnished, or
any materials ara ~upplJed to ~he Prope~y, If any mechanic'~ lien. materJalmen'~ lien, or other lien could ba a~erted on account of t~
work, ~emloe~, or materials. Grantor will upon ~equest o1 Lender ~mlsh to ~nder a~van~e assurances satisf~to~ tO Lender ~at Grantor
can and will ~y the cost of such improvements.
FEB-03-2005 THU 10:06 Al'l WELLS FARGO BANK NA
FAX NO, 3078869488 P, 13
(j~)~"/'""~ MORTGAGE ;= '~ 0 8'-"J: ~
Loan No: New (Continued) "' Page 3
PROPI~RTY DAMAGE INSURANCE. The following provisions relating to Insudng the Propers/ere a pact of the= Mortgage:
Maintenance of Immutables. Grantor shall procure and malntalrl policies of fire insurance with standard extended coverage endorsements on
a replacement I~asla for the tull insurable val-e covering all Improvements on thc Real Property in an amount sufficient to avoid application
of any coinsurance clause, and with a standard mortgagee clause in favor of Lendsr. Policies shall be written by such insurance
and in such form as may be reasonably acceptable to Lender. Grantor shall deliver to Lander cer~illcates ct coverage from each insurer
containing a stipulation that coverage will not be cancelled or diminished without s minimum of thirty (30) days' prior written notice to
Lender and not containing any disclaimer of the insurer's liability for failure to give ouch notice. Each insurance policy also shall include an
endorsement providing that coverage in favor of Lender will not be impaired In any way by any act, omission or default of Grantor or any
other person, Should the Reel Property be located in en area designated by the Director of the Federal Emergency Management Agency as
a =pecial flood hazard area, Grantor agrees to obtal~ and maintain Federal Rood Inaurance~ If available, within 45 days after notice is given
by Lender that the Property is located in a special flood hazard area, for the full unpaid principal balance of the loan end any prior liens on
Lender,the propertYand toae°urlngmaintalntheeuohl°an'insuranceUP to thefor, maximumthe termP°liCYof thelJmitsloan, set under the National Flood Insurance Program, or as otherwise required by
Applicatioo of Proceeds, Grantor shall prompt)y notify Lender of any loss or damage to the Property. Lander may make proof of loss if
Grantor falls to do so within fifteen {15J days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's
election, receive and retain the proceeds of any J~lsuranoe and apply the proceeds to the radu0tion of the Indebtedness, payment of any lien
affecting the Property, or the restoration and repair of the Property. If Lander elects to apply thc proceeds to restoration and repair, Grantor
shall repair or replace the damaged or destroyed Improvements ;~ a manner satisfactory to Lender. Lender shall, upon satisfactory proof of
such expenditure, pay Or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration It Grantor Is nat [n default
under this Mortgage. Any proceeds which have not been disbursed within 180 days after their receipt and whioh Lender has not
committed to the repair or rastx~refion of the Property shall be used first to pay any amount owing to Lender under this Mortgage, then to
pay a,~erued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lander holds any proceeds
after payment in tull of the Indebtedness, such proceeds shall be paid to Grantor aS Grantor's interests may appear.
LENDER'S EXPENDITURES. If Grantor fails (A) to keep the Property free of all taxes, lier~, security interests, encumbrances, and other claims,
(8) to provide any required insurance on the Property. or (C) to make repairs to the Property then Lender may do so. If any action or
proceeding is commenced that would materially affect Lender's interests In the Property, then Lender on Grantor'e behalf may, but is not
required to, take any action that Lender believes tO be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for
such purposes will then bear Interest at the rate charged under the Note from the date incurred or paid by Lander to the date of repayment by
Grantor. Ail au~h expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (1~) be added to
the balance of the Note and be apportioned among end be payable with any Ir,-~tallment payments to become due during either {1) the term of
any applicable insurance policy; or (2) the remaining term of the Note; or (C} be treated as a balloon payment which will bc due and payable
at the Nora's maturity. The Mortgage alee will ~ecure payment of these amount~. The rights provided for in this paragraph shall be [n addition
to any other rights or any remedies to which Lender may ba entitled on account of any default. Any such action by Lender shell not be
construed aa curing the default ac as to bar Lender from any remedy that it otherwise would have had.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Mortgage;
Title. Grantor warrants that: (a) Grantor holds good end marketable title of record to the Property in fee eimple~ free and clear of all liens
and en0umbrances other thai1 those sat forth In the Real Property description or in any title insurance poli,~y, title report, or final title opini=n
issued In favor of, end accepted by, Lender in connection with this Mortgage, end lb) Grantor has the full right, power, end authority to
execute and dellver thio Mortgage to Lender,
Defen~a of Tkla, Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against
the lawful claims of all parsons. In the event any action or proceeding ia commenced that questions Grantor's title or the Interest of Lender
under this Mortgage, Grantor shall defend the action at GrentOr'a expense. Grantor may be the nominal party in such proceeding, but
Lender shall be entitled to participate in the proceeding and to be represented In the proceeding by counsel of Lander's own choice, and
Grantor will deliver, or cause to b~ delivered, to Lender such instruments as Lender may request from time to time to Permit such
participation.
Compliance With Laws. Grantor warrants that the Property and Grantor'a use of the Property complies with all existing applicable laws,
ordinances, and regulations of governmental authorities.
Survival of Prombee. All promises, egreemant~, and statements Gralltor has made in this MOrtgage shall survive the execution and delivery
full.°t this Mortgage, shall be continuing lq nature and shall remain in full force and effect until such time as Grantor'a Indebtedness i~ paid in
CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Mortgage:
Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender In writing, and Grantor shall promptly take
euoh steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party In Ouch proceeding, but
Lender shall be entitled tO participate in the proceeding end to be represented in the procaedincj by counsel of Its own choice, and Grantor
will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to
permit such partloipetion.
Application of Net Proceeds, If all or any part of the Property Is condemned by eminent domain proceedings or by any proceeding or
purchase In lieu of condemnation, Lander may at its election require that all Or any portion of the her Proceeds of thc award be applied to
the Indebtednee= or the repair or restoration of the Property. The net proceeds of the award shell mean the award after payment of
reasonable costs, expenses, end attorneys' fees Incurred by Lender In connection with the condemnation.
feesIMPOSITIONand =hergcsOF TAXES,ara a partFEESof thisANDMortgage:CHARGES BY GOVERNMENTAL AUTHORITIES. The following provlaJona relating to governmental taxes,
Current Tax~, Fees and Chargee. Upon request by Lender, Grantor shall execute such documents in addition to this Mortgage and take
whatever other action is requested by Lender to perfe~ and continue Lender's lien on the Real Property. Grantor Shell reimburse Lender for
all taxes, as described below, together with all expenses Incurred in recording, perfecting or continuing this Mortgage, including without
limitation all taxes, fees, docu~ecttary stamps, and other charges for recording or r~isterlng this Mortgage.
Taxes, The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Mortgage or upon all or any
FE~]'~I'~Z~'O05 THU 10:08 RM WELLS FARGO BANK NR
MORTGAGE
Loan No: New {Continued)
FAX NO, 3078869488
P, 14
Page 4
part of the Indebtedness secured by thIs Mortgage; {2) s specific tax on Grantor which Grantor is authorized or required to deduct from
payments on the Indebtedness secured by this type of Mortgage; {3) al ~ax on this type of Mortgage chargeable against the Lander or the
holder o1 the Note; and (4) a specific ~ax on all or any portion of the Indebtedness or on payments.of principal and interest made by
Grantor.
Subsequent Taxes, If any tax [o which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the
same eff¢ot as an Event of Default, and Lender may exerclee any or all of its available remedies for an Event of Default as provided below
unless Grantor either (1) pays the tax before It becomes dsllnq~ient, or {2) contests the tax as provided above in the Taxes end Liens
section and deposits with Lender cash or s sufficient corporate sursw bond or other eeourity satisfactory to Lender.
SECURITY AGREEMENT: RINANCINI3 STATEMENTS. The following provisions relating to this Mortgage as a security agreement ere a part of
this Mortgage:
Security Agreement. This instrument shall cer~titute a Security Agreement to the extent any of the Property constitutes fixtures, and
Lender shell have all of the rights of s secured party under the Uniform Commercial Code as amended from.time to time.
Seeurlt~f Interest. Upon request by Lander, Grantor shall take whatever action Is requested by Lender to perfect and continue Lender's
securky interest in the Personal Property. In addition to recording this Mortgage in the real property records, Lender may, at any time and
w[thou~ further authorization from Grantor, file exect~ed counterparts, oopiae or reproductions of this Mortgage as a financing statement.
Grantor shall reimburse Lender for all expenses Incurred in pedectlng or continuing this security interest. Upon default, Grantor shall not
remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any Personal Property not affixed
to the Properw in a manner and at a place reasonably convenient to Grantor and Lander and make it available to Lender within three (3)
days after receipt of written demand from Lender to the ex~ent permlned by applicable law.
Addrse,~es. The mailing addresses of Granter ~debtor} and Lender (SecUred party) from which Information concerning the security interest
granted by this Mortgage may be obtained (each as required by the Uniform Commercial Code} ars aa stated on the first page of this
Mortgagm.
FURTHER ASSURANCES; ATTORNEY-INd=ACT, The following provisions relating to further assurances and attorney-in-fact are a pert of this
Mo~gage:
Further Assurances. At any time, and from time to time, upon request of Lender, Grantor will make, execute and del]var, or will Cause to
be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, rallied, or
reracorded, aa the case may bo, et suGh times and In such otfloes and places as Lender may deem appropriate, any and all such mortgages,
deeds of trust, security deeds, security agreements, financing statsmant~, continuation ststement~, instruments of further assurance,
certificates, end other dooumente as may, In the sole opinion cf Lender, be nooeesa~ or desirable in order to sffeotuats, complete, perfect,
continue, or preserve (1) Grantor's obligations under the Note, this Mortgage, end the Related Document~, and (2) the liens and
security intersmts Greeted by this Mortgage as first and prior liens on the Property, whether now owned or hereafter a~quired by Grantor.
Unless prohibited by law or Lander agrees to the oontrary in writing, Grantor shall reimburse Lender for all oost~ and expenses incurred in
connection with the mat~ars referred to In this paragraph.
At'mrney-in-Fagt- If Grantor falls to do any of the things rsfarrad to in the preceding paragrsph, Lender may do so for and In the name of
Grantor and st Grantor's expe~l&m. For such purposes, Grantor hereby irrevocably appoints Lender ss Grantor'e attorney-In.fact for the
purpose of making, executing, delivering, filing, recording, and doing all othe~ things ss may be necessary or desirable, in Lender's sole
opinion~ to accomplish the ameers referred to in the preceding paragraph.
FULL PERFORMANCE[. I! Grantor pays all the Indsbtedne~ when due, and otherwise performs all the obligations imposed upon Grantor under
this Mortgage, Lender shell exsoute and deliver to Grantor a lultabla satisfaction of this Mortgage and suitable statements of termination of any
financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Grantor will pay, If permitted by
applicable law, any reasonable termination fas ss determined by Lender from t~me to time.
EVENTS OF DEFAULT. At Lender's option, Grantor will be in default under this Mortgage If any Of the following happen: Payment Default. GrantOr fails to make any payment when due under the indebtedness.
Default on Other Payments. Failure of Grantor within the time required by thi~ Mortgage to make any payment for taxes or insurance, or
any other payment necessary to prevent filing of or to effect discharge of any lien.
Break Othe~ Promises. Grantor breaks any promise made to Lender o~ falls to perform promptly at the time and strictly in the manner
provided in this Mortgage or in any agreement related to this Mortgage.
Default in Favor of Third Patties. Should Grantor default under any loan, ax~e~,.~ion of oredit, security agreement, purchase or
agreement, or any other agresmant¢ In favor of any other oreditor or person that may materially afloat any of Grantor's property or
Grantor's ability to repay the Indabtm:lnesa or Grantor's ability to p~rform Grantor'a obllgatlons under this Mortgage or any related
document.
Fal~e 8ta~mants. Any representation or statement made or furnished to Lender by Grantor or on Grerltor's behalf under this Mortgage or
the Related Docummn~ Is false or misleading in any materiel respect, either now or at the time made or furnished.
Defa~flve Cellatsrelizafle~. Thla Mortgage or any of the Related Dooumenta ceases to be in full force and effect (Inoluding failure of any
collateral document to create a valid end perfected security Intere~t or lien) at any time and for any reason.
Death or Insolvency. The death of Grantor, the insolvency of Grantor, the appointment of e receiver for any part of Grsntor's property, any
assignment for the benefit of crsdltors, any type of creditor workout, er the commencement of any proceeding under any bankruptcy or
Insolvengy laws by or agslnet Grantor.
Tekinll af the Property. Any creditor or go~'emmental agency tHe~ to taka any of the Property or any other of Grantor's property in which
Lender hem e Ilea. This Includes taking of, garnishing o~ or levying on Grantor'a accounts with Lender. However, If Grantor disputes in
good faith whether the claim on which the taking of the Property is based is valid or reasonable, and It Grantor gives Lender walden notice
of the claim and furnishes Lender with monl~ or a surety bond satisfactory te Lender to satiety the claim, then this default provision will
not apply.
Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that Is not
remedied within a~y graoe period provided therein, Including without limitation any agreement concerning any indebtednes~ or other
FEB-03-2005 THU 10:09 P, FI NELLS FRRGO BRNK N~ FRX NO, 3078869488 P, 15
Loan No: New
MORTGAGE
(Continued) Page 5
obligation of Grantor to Lender, whether existing now or later.
Evem~ Affecting Gu~entor. Any of the preoeding event6 occurs with respect to any guarantor, endoraar~ surety, or accommodation party
of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party d;~ or becomes incompetent! or revokes or
disputes the validity of, or liability under, any Guaranty of the Indebtedness.
lemecurity. Lender in good faith believes itself insecure.
RIGHTS AND REMEDIES ON DEFAULT. Upon the oocurrence of an Event of Default and at any time thereafter, Lender, at Lender's option, may
exercise any one or more of the following rights end remedies, in addition to any other dgh~ or remedies provided by law:
Acoalerate Indebtedness. Lender shall have the right at Its option without notice to Grantor to declare the entire Indebtedness immediately
due and payable, including any prepayment penalty which Grantor wpuld be required to pay.
UCC Remedies. With respect to ail or any part of the Personal Property, Lender shall have all the tigl~te end remedies of e secured party
under the Uniform Commerolal Code.
Collect Rent~, Lender shall have the fight, without notice to Grantor~ to taka possession of the Property, including during the pendenoy of
foreclosure, whether judlcia[ or non-judJcJal~ and collect the Rents, including amounts psat due and unpaid, and apply the net proceeds, over
and above Lender's posts, against the Indebtedness. In furtherance of this tight, Lender may require any tenant or other user of the
Property to make payment,~ of rent or use fees directly to Lender. If the Rent~ are collected by Londer~ than Grantor irrevocably designates
Lender as Grentor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same
and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for
whioh the payments are made, whether or not any proper groqnds for tho demand existed. Lender may exercise Its rights under this
subparagraph either in person, by agent, or through a receiver.
Appoint Reaeiver. Lender shell have the right to have s receiver appointed to take possession of all or any part of the Property, with the
power to proteGt end preserve the Property~ to operate the property preceding foreclosure or eale~ and to collect the Rents from the
Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without
bond if permitted by law. Lender's right to the appointment of s receiver shall exist whether or not the apparent value of the Property
exceeds the indebtedness by ii subetantlal amount. Employment by Lender shall not disqualify a person from serving as a receiver.
Judiolal Foreclosure. Lender may obtain · judicial decree foreclosing Greeter's interest in all or any part of the Property.
NenjudielN Sale. Lender may foreclose Grantor's interest I1~ all or in any part of the Property by non.Judicial sale, and sPecifically by "power
of sale" or "advertisement and sale" foreclosure as provided by statute.
Peflolency Judgment. If permitted by applicable law, Lender may obtain a Judgment for any deficiency remaining in the Indebtedness due
to Lender aftsr applloatlon of all amounts received from the exercise of the right~ provided In this section.
Tenancy at Sufferenge. If Grantor remains in possession of the Property after the Property is aged as provided above or Lender otherwise
beoomes entitled to possession of the Property upon default of Grantor, Grantor shall beooma a tenant at sufferance of Lender or the
purohaaer of the Property and shall, st Lender's option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the
Property immediately upon tho demand of Lander.
Other Remedies. Lender shall have all other rights and remedies provided in this Mortgage or the Note or available at law or in equity.
Sale of ~fle Property. To the extant permitted by applicable law, Grantor hereby waives any end ell right to have the Property marshalled.
In exercising its rights end remedle~, Lander shall he free to sell all or any part of the Property together or separately, in one sale or by
separate sales. Lender shall be entitled to bid at any publlo sale On all or any portion of ~ Property.
Notice of Sale. Lender will give Grantor reasonable notice of ~ time and plae. e of any public sale of the Personal Property or of the time
after which any private sale or other intended disposition of the Personal Property I~ to be made. Reasonable notice shall mean notice
given at least tan (10} days before the time of the sale or disposition. Any sale of the Pe~onal Property may be made in conjunction with
any aais of the Real Property.
F. Je~ion of Remedies. All of Lender's rights and reread;as witl bo pumuletive and may be exeroiaed alone or together. An election by
Lender to choose any one remedy will not bar Lender from using any other remedy. If Lender decides to spend ffloney et to perform any of
Grantor'e obligations under this Mortgager after Grantor's failure to do so, that decision by Lander will not affect Lender'S right to declare
Grantor in default and to exercise Lender's remedies.
Attorneys' Fees; Expensba. If Lender Institutes any suit or aotlon ~o enforce any of the terms of this 'Mortgage, Lender shall be entitled to
recover such sum as thc court may adjudge reasonable es attorney~' fees at trial end upon e~y appeal. Whether or not any court action is
involved, and [o the extant not prohibited by law, all reasonable expenses Lender Incurs that in Lender's oplNon are necessary at any time
/or the proteotion of its interest or the enforcement of ks rights shall beoomo · part of the Indebtedness payable on demand and shall bear
interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation,
however subject to any limits under applJoable law, Lender's reasonable attorneys' tees and Lender's legal expenses whether or not there is
a lawsuit, Including reasonable attorneys' fees and exper~ses for bankrupt¢y proceedings (including efforts to modify or vacate any
automatic stay or InjunGtlon), eppeals~ and any anticipated post-judgment collac1Jon services, the cost of searohlng records, obtaining title
reports (including foreclosure reports), surveyors' reports, and appraisal fees and tiffs insurance, to the extant perm(trod by applicable law.
Grantor also will pay any court coats, in addition to all other sums provided by law.
NOTICES. Any notipa required to ba given under this Mortcjege, including without limitation any notice of default a~cl any notice of sale shell be
given in writing, and shall bo effective when actually delivered, when eatually received by telefacsimlle (unless otherwise required by law), when
deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or
registered mall postage prepaid, directed to the addresses shown near the beginning et this Mortgage. All pop[es of notices of fore;Iosure from
the holder of any lien which has pdortty over this Mortgage shall be sent to Lender's address, as shown near the beginning of this Mortgage.
Any person may phsnga hie or her address for notices under this Mortgage by giving formal written notice to the other parson or persons,
specifying that the purpose of the notice ia to change the person*s addre~.s. For notioe puqooses, Grantor agrees to keep Lender ;nformad et all
times of Grantor's current address. Unless otherwise provided or required by law, ii there is more than one Grantor, any notice given by Lender
to any Grantor i~ deemed to be notice given to all Grantors. It will bo Grentor'$ responsibility to tell the others et' the nodes from Lander.
FURTHER ASSURANCES. The parties hereto egret to do all things deemed necessary by Lender in order to fully document thc loan evidenced
FEB-03-2005 THU 10:10 RH NELL$ FRRGO BRNK NR
NO, 3078869488 P, ~.8
0~0% ? t ? MORTGAGE , 0 8',~ 8
Loan No: New (Continued) ' Page 6
by this Note and any related agreements, and will fully cooperate 0oncoming the execution and delivery of security agreements, stock powers,
instructions and/or Other dooumen~ pertaining to any collateral Intended to secure the IndebtednesS. The undersigned agree to assist In the
curl of any defects in ~he execution, delivery or eubstance of the Note end related agreemenm, and In the creation and perfection of any liens,
security Interests or other collateral dghts securing the Note.
CONSENT TO SELL LOAN. The parties hereto agree: (a) Lender may sail or transfer all or part of this loan to one or more purchasers, whether
related or unrelated to Lender; (be Lender may provide to any purchaser, or potential purchaser, any information or knowledge Lander may have
about the parties or about any other mat~er relatJog to this loan obligation, and the parties waive any rights to privacy If may have with respect
tO such mattere~ [c) the purchaser of a loan will be considered its sbeolu[e owner and will have all thc rights granted under the loan documents
or agreements governing the sale of the loan; and Id) the purchaser of a loan may enforce eta interests irrespective of any claims or defense~
that the parties may have against Lender.
FACBIMILE AND COUNTERPART, This document may be signed in any number of separate ~opies, each of which shall be effective as an
original, but all of which taken together shall conedtute a single document. An electronic transmission et other facsimile of this document or
any related document shall be deemed an original and shall be admissible as evidence of the document and the cipher's execution.
ARBITRATION AGREEMENT. Arbi~ntJon - Binding Arbitration. Lender and each party to this agreement hereby agree, upon demand by any
party, to submit any Dispute to binding arbitration in accordance wi~h the terms of this Arbitration Program. A "Dispute' shall include any
dispute, claim or controversy of any kind, whether in con/J'act or in tort, Legal or equitable, now existing or hereafter arising, relating in any way
to this Agreement or any related agreement Incorporating this Arbitration Program {the 'Documen~"h or any past, present, or future loans,
transactions, contracts, agreement~, relationships, Incidents or injuries of any kind whatsoever relating to or Involving Business Banldng~
Regional Banking, or any successor group or dspa~ment of Lender. DISPUTES SUBMITTED TO ARBITRATION ARE NOT RESOLVED IN COURT
BY A JUDGE OR JURY.
Governing Rules. Any arbitration proceeding will II) ba governed by the Federal Arbitration Act {Title g of the United States Code),
notwlthetand[ng any conflicting choice of law provision in any of the documents bet~.eeen the parties; and (ii) be conducted by the AAA
(American Arbitration Aesoclatlon), or such other administrator as the part[at eh&Il mutually agree upon, in accordance with the AAA's
commercial dispute resolution procedures, unless the claim or counterclaim is at leaet $1,000,000.00 exolu~ive of claimed interest, arbitration
fees and costs in which case the arbitration shall be conducted In accordance with the AAA'a optional procedures tot larga~ complex
commercial disputes (the commercial dispute resolution procedures or the optional procedures for large, complex commercial disputes to be
referred to, ae applicable, as the "Rules'). If there Js any Inco~istenCy between the terms hereof end the Rules, the terms and procedures set
forth herein shall con,tot. Arbitration proceedings hereunder shall be conducted at e location mutually agreeable to [ha parties, or if they cannot
agree, then et a location selected by the AAA In the state of the applicable substantive law primarily governing the Credit. Any party who fails
or refuses to submit to arbitration following a demand by any other party shall bear all costs and expenses incurred by such other pert,/ In
compelling arbitration of any Dispute. Arbitration may be demanded at any time, and may be compelled by summary proceedings in Court. The
institution end maintenance el' an action for Judicial relief or pursuit of a provisional or ancillary remedy shall not constitute a waiver of the right
of any party, including the plaintiff, to submit the controverey or claim to arbitration If any other per~y contests such action for judicial relief.
The arbitrator shall award all costs and expenses of the arbitration proceeding, Nothing contained herein shall be deemed to be a waiver by any
party that is a Bank of the protections afforded to it under 12 U.S,C. ag1 or any similar applicable state law.'
No Waiver of Provisional Ramedie~, Self-Help end Foreclosure. The arbitration requirement does not limit the right of any party to (I) foreclose
against real ar personal property collateral; (il) exercise salt-help remedies relating to collateral or proceeds of collateral such as setoff or
repossession; or (Ill) obtain provisional or ancillary remediee such ss replevin, injunctive relief, attachment er the appointment of o rooeiver,
before during or after the pendency of any arbitration proceeding. Th~s exclusion doee not co~.~titute e waiver of the right or obligation of any
party to submit any Dispute to arbitration or reference hereunder, including those arising from the exercise of the actione detailed in sections Ii),
{ii) and (iill of this paragraph.
Arbltrat~ Qualiflea~'Jons and Powam. Any arbitration proceeding in which the amount in centrovamy is sS,000,000.O0 or less will be decided
by e single arbitrator selected according ta the Rules, and who shall not render an award of greater than $5,000,000.00. Any Dispute in which
the amount in controversy exceeds //5,000,000.00 shall be decided by majority vote of e panel of three arbitrators; provided however, that all
three arbitrators must actively participate Jn all heatings and deliberations. Every arbitrator muet be a practicing attorney or e retired member of
the state or federal judiciary, in either case with a minimum of ten years experience In the substantive law applicable to the subject matter of the
Dispute. The arbitrator will determine whether or not an Issue is arbitrateble end will give effect to the statutes of Iimitatio~ in determining any
claim. In any arbitration proceeding the arbi~ator will decide (by documents only or with a hearing at the arbitrafor's discretion) any pre-hearing
motions which are similar to motlon~ to dismiss for failure to state e claim or motions for eummery adjudication. The arbltrstor shell resolve ell
Disputes in accordance with the applicable substantive Jaw end may grant any remedy or relief that al court of such state could order or grant
within the seeps hereof end such ancillary relief as ia necessary to make effective any award. The arbitrator shall also have the power to award
recovery of all coa~ and fees, to impose sanctions and to take such other action as the arblttator deems neoeeeary to the came extent a judge
could pursuant to the Federal Rules of Civil Procedure, the applicable State RUles of Civil Procedure, or other applicable law. Judgment upon the
award rendered by the arbitrator may be entered in any oouff having jurisdiction,
Discover/. In any arbitration proceeding dla0overy will be permitted In accordance with the Rules. All discovery shell be expressly limited to
matters directly relevant to the Dispute being arbitrated and mu,~t be comple!~d no later than 20 (lays before the hearing date and within 180
days of the filing of the Dispute with the AAA. Any re~luests for an extension of the discovery periods, or any discovery disputes, will be
subject to final determination by the arbhrator upon a showing that the request for discovery is eesantfel for the party's presentation and that ne
alternative means for obtaining Information le available.
Miscellaneous. To the maximum extent practicable, the AAA, the erbkrators end the parties shall take all action required ~o conclude any
arbitration proceeding within 180 days of the filing of ~he Dispute with the AAA. The resolution of any Dispute shall be determined by a
separate arbitration proceeding and such Dispute shall not' be gor~olidatad with other disputes or included In any class proceeding. No arbitrator
or other part~ to an arbitration proceeding may disclose the existence, content or reeul~ thereof, except for disclosures of information by a
party required in the ordinary course of Itc business or by applicable law et regulation. If more than one agreemen~ for arbitration by or between
the parties potentially applies to a Dispute, the arbitration provision most directly related to the documents between the parties or the subject
matter of the Dispute cheil control. This arbitration provision cheil survive termination, amendment or expiration of any of the documents or any
relationship between the parties.
8tare-Specific Provisions,
FE1~-03-2005 THU 10:12 RI'I NELL$ FRRGO BRNK FIRFR× NO, 3078869488 P, 17
(~ ~ ~",~"~"~' MORTGAGE
Loan No: New (Continued) ~ ~ ~ ~ Page 7
If California law 9overns the Dispute, the following provision is i~l¢ludad;
Real Property Collateral; Judicial Referenoe'. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the
Dispute concerns indebtedness secured directly or Indlrectly~ in whole or in part, by any real property unless the holder of the mortgage, lien or
security Interest specifically elects in writing to proceed wltJ~ the arbitration, If any such Dispute is not submitted to arbitration, the Dispute
shall, at the election of any party, be referred to a referee In accordance with California Code of Civil Procedure Sootion 638 et seq., end this
general reference agraernant is intended to be specifically enfo'rcaabla in accordance with said Section 638. A referee wil:h [he qualifications
required herein for arbitrators shall be selected pursuant to the AAA's selection procedures. Judgment upon the de~lsion rendered by a referee
shall be entered in the court In which Such proceecilng wee commenced in accordsnae with California Code of Civil Procedure Sections 644 and
If Idaho law governs the Dispute, the following provision Is Included:
Real Property Cellateral= Judicial Reference. Notwithstanding anything herein to the contrary, no dispute shell be submitted to arbitration If the
dispute concerns indebtedrmas secured directly or Indirectly, in whole or tn part, by any real property unless (ii ihs holder of the mortgage, lien
or security In~eraat specifically elects In writing ~o proceed with the arbitration, or (il) all P~lrtles ~0 the arbitration waive any rights or benetlts
that might accrue to ~hem by virtue of ~e single cation rule statute of Idaho, thereby agreeing that all indebtedness end obligations of the
paroles, end all mortgages, liens and seourlty Interests securing such indebtedness and obligations, shall remain fully valid and enforceable.
If Montana law governs the Dispute, the following provision ia Ineluded:
Real Properly Collateral; Judicial Referenoe. Notwithstanding anything herein to the oontrary, no dispute shall be subsided to arbitration if the
dispute concerns indebtedness secured directly or Indirectly, in whole or In part, by any real property unless (I) the holder of the mortgage~ I~en
or security interest specifically elects in writing to proceed with the arbitration, er (ii) all parties to the arbitration waive any rights or benefits
that might eocrue to them by virus of the single action rule statute of Montana, thereby agreeing that ail indebtedneSS and obligations of the
parties, end all mortgages, llano and security interests securing such Indebtedness and obligations, shall remain fully valid end enforceable,
If Nevada law governs the Dispute, the following provls~on ia included:
Reel Property Collateral; Judicial Raferellce. Notwithstanding anything herein to the contrary, no dispute shall be submitted to arbitration if the
dispute conaerns indebtedness' secured directly or indirectly, In whole or in part, by any real property unless (ii the holder of the mortgage, lien
or security Interest specifically altars in writing to proceed with the arbkretlon, or (il) ali parties tO the arbitration waive any rights or benefits
that might accrue to them by virtue of the single aotlon rule statute of Nevada, [hereby agreeing that all Indebtedness and obligations of the
parties, and all mortgages, liana and security Interests securing such Indebtedness and obligations, shall remain fully valid and enforceable.
If Utah Jaw governs the Dispute, the following provision is Included:
Real Property Collateral: Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be subsided to arbitration if the
Dispute concerns indebtedness secured dlreofly or Indirectly, in whole or In Part, by any real property unless the holder of the mortgage, lien or
security Interee~ specifically elec~ In writing to proceed with the arbitration. If any such Dispute is not Submitted to arbitration, the Dlgpute
shall, at the election of any party, be referred to a master in accordanoe with Utah Rule of Civil Procedure 53, and this general reference
agreement is ~nrended to b~ specifically enforceable. A mae~er with the quallflca~ons required herein for arbitrators shall be Selected pursuant
to thc AAA's selection procedures. Judgment upon the decision rendered by e master shall be entered in the oourt in which such proceeding
was commenced in accordance with Utah Rule of Civil Procedure 53(e),
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are s part of thia Mortgage:
Amendments. What is written in this Mortgage and in the Related Doouments ia Grantor's entire agreement with Lender conoeFr~;ng the
matters Covered by thl~ Mortgage, To be effective, any change or amendment to this Mortgage must be in writing and must be signed by
whoever will be bound or ebligated by the change or amendment.
Caption Headings. Caption headings in this Mortgage are for convenience purposes only end ere not to be ,,~ed to interpret or define the
prov~sion~ of this Mortgage.
Governing Law. l'hk Mortaege will be governed by and interpreted In accordae~e with federal law end the laws af the Sro'ce of Wyoming.
Thi~ Mortgage has been accepted by Lender in the Stats of Wyorn~ng.
No Waiver by Lender. Grantor understands Lender will not give up any cf Lender's rights under this Mortgage unless Lender do~s so in
writing. The fact that Lender delay~ or omits to exercise any right will not mean that Lender has given up that right. If Lender does agree
In writing to give up one of Lender's rights, that does not mean Grantor will not have to comply with the other provisions of this Mortgage.
Grantor also understands that if Lender does consent to a request, that dose no[ mean that GrantOr will not have to get Lender*a consent
again if the situation happens again. Grantor further understands that Just because Lender oonaanta to one or more of Grentor's requests,
that does not mean Lender will be required to consent to any of Grentor's future requests. Grantor waives presentment, demand for
payment, protest, and notice of dishonor. Grantor waives all rights o~ exemption from execution or similar law in the Property, and Grantor
agrees that the rights of Lender in the Preparer under this Mortgage ara prior to Grantor's rlghts while this Mortgage remains in affect.
Severe~illty. If a court finds that any provision of this Mortgage is not valid or should not be enforced~ that fact by itself will not mean that
the rear of this Me,gage will not be valid or enforced. Therefore~ a court will enforce the rase of the provisions of this Mortgage even if a
provision of this Mortgage may be found to be Invalid or unenforceable,
Merge~. There shall be no merger of the interest or estate created by this Mortgage wl~h any other Interest or estate in the Property et any
time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
Suoceesors end A~signa. Subjaot to any limitations stated in this Mortgage on transfer of Grantor'e Interest, this Mortgage shall be binding
upon and inure to the benefit of the partJe~, tl~elr successors and sssigrls. If ownership of the Property becomes vested in a person other
than Grantor, Lender, without notice to Grantor, may deal with G~'sntor'a successors with reference to this Mortgage and the Indebtedness
by way of to,saranac or extension without releasing Grantor from the obligations of this Mortgage or liability under the Indebtedness.
Time ia of ~he E~ence. Time t~ of thc essence in the performance of this Mortgage,
W~Jver of Homsste,~d Exeml~J~l, Grantor hereby releases and waives all rights end benefits of the hemeetead aXan~ption laws of the State
of Wyoming as to all Indebtedness secured by this Mortgage.
FEB:'~:L2'O05 '?HU ~0:~.3 P,I'I 14ELLS '~GO B~NK N,q FP, X NO,
3078869488
Lea. "o: New 0:~0~.-.~~''~''-~ MORTGAGE
(Continued}
DEFINITIONS. Thc following words shell have the following meanings when used in tflle Mortgage:
Page 8
Borrower. The word 'Borrower' means Milan RIImors end Includes all co-signers and co-makers signing the Note.
Environmental Laws. The words 'Etlvironmentel Laws' mean any and all state, federal end local statutes, regulations and ordinances
relating to the protection of human health or the environment/ including without limitation the Comprehensive Environmental Response,
Compeneedon, and Liability Act of 1980, ss amended, 42 U.S.C. Section 9601, et seq. ('CERCLA'), the Superfund Amer~dmants and
Reauthorization Act et 1 $86, Pub. L. No. 99-499 ('SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et esq.,
the Resource Conservation and Reoovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or
regulations adopted pursuant thereto.
Event of Default. The words "Event of Default' mean any of the events of default set forth in this Mortgage In the events of default
seer}on of this Mortgage,
Gramot. The word "Grantor" means Milan Fillmore,
Guaranty. The word "Guaranty' means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
without limitation e guaranty of all or parl of the Note.
Hazardous Substam;e~. The words "Hazardous Substanoss" mean material~ that/ because of their quantity, concentration or physical,
chemical or Infectious characteristics, may cause or pose a present or potential hazard to human haalt~ or the environment when
improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous
Substances" are used in their very broadest sense and Include without limitation any and all hazardous or toxic substances, materiels or
waste as defined by or listed under the Environmental Laws, The term 'Hazardeus Substances" also Includes, without limitation, petroleum
and pea'oleum by-products or any fraction thereof and asbestos.
Improvemenls. The word "improvements" means all exj~tkig and future Improvements, buildings, structures, mobile homes affixed on the
Real Properly, faoilitles, additions, replacements end other ;onstruction on the Reel Proper~y.
Indebtedness. The word "Indebtedness' means all principal, Interest, and other amounts, costs and expenses payable under the Note or
Related Documents, together with all renewals of, extensions of, modlfloation~ of, consolidations of end substitutions for the Note or
Related Dooumenta and any amounts expended or advanced by Lender to discharge Greeter'S obi}get}one or expenses i~curred by Lender to
enforce Greeter's obligations under this Mortgage, together with interest on such amounts as provided in this Mortgage. Specifically,
without limitation, Indebtedness i~.cludes all amounts that may be Indirectly secured by the Cross-Collateral}teflon provision of this
Mortgage.
Lender. The word "Lender" means Wells Fargo Bank, National Association, its successors and assigns. The words "successors or
assigns" mean any person or company that acquires any Interest in the Note.
MongNle. The word "Mortgage* means this Mortgage between Grantor and Lender.
Note, The word "Note" means the promissory note dated February 3, 2006, in the original principal amount of $ IR0,000,00
from Grantor to Lender, together with all renewals of, extensions of, modlfloations of refinanglngs of, consolidations of, and substitutions
for the promisso~ note or agreement. NOTICE TO GRANTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE.
Pemonal P~oparty. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all secessions, par~o, and additions to, all
replacements of, and all eubetkutJons for, any of such property; and together with all proceeds lincluding without limitation all insurance
proceeds end refunds of premiums! from any sale or other disposition et the Property.
Property. The word 'Property" means collectively the Reel Property and the Personal Property.
Real Prelaorty. The words 'Real Property" mean the real property, interests and rights, ss further described in this Mortgage.
Related Doeument~. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
agreements, guaranties, seourity agreements, mortgages, deeds of trust, security dsads~ collateral mortgages, end all other instruments,
agreements and documents, whether now or hereafter exlstlng~ execumd ;ri conrterttorl with the Indsbtsdns~.
Rents, The word "Rents" means ell present and future rents, revenues, }negros, issues, royalties, profits, and other benefits derived from
the Property.
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVIglON8 OF THIS MORTGAGE, AND GRANTOR AGREES TO ITS TERMS.
GRANTOR:
Milan Fillmore
FEB-03-2005 THU 10:14 RI1 PlELL$ FRRC.,O BRNK NR
, (-} ~ ~'~,'~',¢ '/ MORTGAGE
Loan No: Naw (Continued)
NO,
3078869488 P, 19
,_,C 085!,_,
Page 9
On this day before ms, the undersigned Notary Public, personally appeared Milan Fillmore, tO me known to be the Individual dasodbed in and
who exeouTmd the Mortgage, and acknowledged ~a~ he or she ~igned l~ Mo~gage as his or her free and volunta~ act and dc~, for thc
and purposes ~herein ment~d,
I