HomeMy WebLinkAbout909185AR-21-2005 02:2! PM Ro~ Hanck
50? 558 5150
P.04
00035
'SECI~RI'I'Y AGREEMENT
Thin Security. Agreement is entered into this __~ day of /~-~, { , ffi 05', by as un inducement to Seller to extend credit to
.... A"~¢~/~.rx /Ot'~r.~.r~ (Debtor), the undersigned hereby grants to
_. l~ a w n, ... ,, et M. anc. J~. (Seller) a Security 'Interest in the property described
Below ((he "Property"), together with ali parts, accessories, repairs, improvements, and
accessions to the Property, and all proce,,.'ds and products from the 'Property:
Property described as follows: /' .3//o._,~ ~^; Z. o7z Z_t/~
I further agree as follows:
1. This Security Agreement secures any debt Debtor or I now or later may have to Seller
and will Continue Ih effect until discharged in Writing by Seller,
2. ! represent that I own the Property. I will keep the Property In my possession. Seller
may examine and inspect the Property at any reasonable time. I wtll not sell or transfer the
'Property without first obtaining written consent of the Seller.
3, That Seller has the following rights with respect to this agreement:
a, Seller- may fiOtlfy any account receivable of Seller's ihte~'est in the Property,
b. Seller may, in my name, demand, collect, endorse, receive and give a receipt for,
compromise, settle and handle suits or other proceedings involving the Property.
c. Seller may take any action it feels Is necessary in order to take possession of Property,
including performing eny part of a contract or endorsing It in my name.
d, Seller~ fnay take action or pay money, on my behalf, to preserve or protect the Property.,
Seller may treat such payments made or the reasonable value of services performed as
advances to be added to the principal amount due from debtor and secured by this
agreement,
4. I will be in default on this Security Agreement If Debtor or ! am in default on any note,
credit ag~'eement or guaranty this agreemettt secures or if I fall tO ke~i~ atly pl~omlse
contained herein. If I default, Seller shall have ali thc rights and remedies provided In the
credit agreement, guaranty, Uniform Commercial Codel and any statutory provisions
concerning real property security, Seller may require me to make the Property available at
a reasonably convenient place and time and may take possession of the Property and sell it
as provided by law. I agree that any and all costs incurred by Seller in enforcing this
agreement, Including reasonable attorney's fees, shall be treated as an advance and shall
constitute additional' Indebtedness secured by this agreement.
IN WITNESS WHEREOF, the undersigned have signed and sealed this Security
Agreement this
RECEIVED 6/13/2005 at 1:44 PM
RECEIVING # 909185
BOOK: 588 PAGE: 35
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
MAR-21-20~iJ '-- :22 PM Ro~ Honck
-00036
day of ,19
Debtor
Owner of property (if Other than Debtor)
STATE OF
C 1T Y/C 0 U N T ¥/JOF i~¢:¢,~,4h, fl~ .~ to-wit:
The_ foregoing instrument was ae~owledged beforeS,
My Commission Expires:
STATE OF /
CITY/COUNTY OF: to-wR:
Thc foregoing inatrument was acknowledged before me this ~ day of
19~ by -'
Notary Public
My Commission Expires:
MAR-21--2005 02:20 PM Ro~ Honck 50? ~58 5150 P. 02 ,
09091.$5
l',i)an Ago'cement
000,3
.I. 'Parties: The undersigned .is Steven Pierson, tim Borrower, and the Lender i.s Raymond
Hanek.
2. Date of Agreement: March 21,2005
3, Promise to Pay: 'Within l 2 morn'Es from cc;day, Borrower promises to pay to Lender
seventeen Ihousm~d dotlars ($ '17,000') and interest charges stated below.
4. Re,~ponsibili.ty: Although this agree'meat ma3' be signed below by more than one .person, each
of the undersigned understand that they are each as individuals responsible and jointly and
severally liable for paying back the tell amount.
5. Breakdown of Loan: Borrower will .pay:
Amount of Loan: $17,000.00
Other (.Interest) $ 1,020.00
Amount financed: $18,020.00
Finance charge: $ -0-
Total of payments:$ (1)
ANNUA[,'PERCENTAGE RATE 6%
6. Repayment: Borrower will repay in the following manner: Borrower will repay the amoun! of
this note in one (1) payment due on or before March 21,2006.
7. Prepayment: Borrower has the right to prepay the whole outstanding amount at any time.
Late Charge: N/A
9. Security: To protect Lender, Borrower gives what is known as a security interest or mortgage
in: IDescribe:]
~31~_J- i'Z/. Z ~'P' cio .-~-fc-*-c tY¢, /{~7 {~.~C~ _
10. Default: If for any reason Borrower fails to make payment on time, 'Borrower shall be in
default.
11. Right of Offset; If this loan becomes past due, the Lender will have the right to pay this loan
from any deposit or security BOrrower has wit'h this lender without notice to him/her.
Ur'the Lender gives Borrower an extension of time to pay this loan, he/she still must repay the
entire loan.
MAR-2 i -20~'~5~ ~ .21
PM Ro~ H~nck
507 ~58 5150
00038
.12. Collection fees: N/A
13. Co-borrowers: N/A
Agreed To:
'Borrower