HomeMy WebLinkAbout909601 .00757
AFTER i~COM)ING P..E'r'Lr3_N TO:
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DEED OF TRUST
Assessor's Property Tax Parcel Account Number (s):
THIS DEED OF TRUST, mad~ this C.~0'fh rtz}, of 6¢.F~,¢~_/ ~, 20 df,, by
. TRUSTEE, whose address is
WlTNESSETH: Grantor hereby bargains, sells, convey.% and transfers to Trustee/n Trust,
with power of sale, the followiug described real property in
SEE EXHIBIT A ATTACI-B~D I-IEP,_ETO AND BY THIS REFER.ENCF.
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RECEIVED 6/29/2005 at 3:51 PM
RECEIVING # 909601
BOOK: 589 PAGE: 757
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Which real property does not exceed 40 acres in size, together with all the easements, access rights,
tenements, hereditaments, and appurtenances now or hereafter thereunto belonging or in any way
appertaining thereto, and the rents, issues and profits thereof (collectively, the "Property").
This Deed of Trust is for the purpose of securing performance of each obligation and
agreement of Granto~_er~. herein contained, and payment of the principal sum of
($ ] ~[,~/0]~. ~J~'), I/~ ,~ Dollars in accordance with the terms of a Promissory Note
of ev'en date herewith (the "Note"), together with interest thereon as set in the Note therein, payable
to Beneficiary or order, and made by Grantor, and all renewals, modifications and extensions
thereof, and also such further sums as may be advanced or loaned by Beneficiary to Grantor, or any
of their successors or assigns, together with interest there on at the rate set forth in the Note. The
£mal payment of principal and interest under the Note is due and payable '7 ~ ~) \ ,20~
To protect the security of this Deed of Trust, Grantor covenants and agrees:
1. To keep the Property in good condition and repair, to permit no waste thereof
and to comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting
the Property. Grantor shall, and Grantor shall cause all tenants, employees, agents, contractors and
subcontractors of Grantor and any other persons present on or occupying the Property to, keep and
maintain the Property, including the soil and ground water thereof, in compliance with, and not
cause or permit the Property, including the soil and ground ~vater thereof, to be in violation of any
federal, state or local laws, ordinances or regulations relating to industrial hygiene or to the
environmental conditions thereon (including, but not limited to any "Hazardous Materials Laws" as
hereinafter defined). Neither Grantor nor employees, agents, contractors and subcontractors of
Grantor or any other persons occupying or present (including tenants) on the Property shall use,,
generate, manufacture, store or dispose of on under or about the Property or transport to or from the
Property any flammable explosives, radioactive materials, hazardous wastes, toxic substances or
related materials, including, without limitation, any substances defined as or included in the
del'tuition of "hazardous substances," "hazardous wastes," "hazardous material," or "toxic
substances" under any Hazardous Materials Laws (collectively referred to hereinafter as "Hazardous
Materials") in violation of said Hazardous Materials Laws.
2. To pay before delinquent all lawful taxes and assessments upon the property; and keep
the Property free and clear of all other Charges, liens or encumbrances. Grantor may not sell or
transfer the property or any portion thereof, voluntarily or involuntarily, without Beneficiary's
written consent. No building or other improvement on the Property Shall be structurally altered,
removed or demolished without the Beneficiary's prior written consent, nor shall any fixture or
chattel covered by this Deed of Trust and adapted to the proper use and enjoyment or the Property be
removed at any time without like consent unless actually replaced by an article of equal suitability,
owned by the Grantor, free and clear of any lien or security interest except such as may be approved
in writing by the Beneficiary.
3. To keep all buildings, including any manufactured home, now or hereafter erected or
attached onto the Property described herein continuously insured against loss by fire or other hazards
in an amount 100% of the replacement value of the existing and future improvements to the
Property. All policies shall be in such companies as the Beneficiary may approve and have loss
payable first to the Beneficiary, as its interest may appear, and then to the Grantor. If Grantor fails
to procure any insurance required hereunder, Beneficiary may procure such insurance at Grantor's
expense. The amount collected under any insurance policy may be applied upon any indebtedness
hereby secured in such order, as the Beneficiary shall determine. In the event of foreclosure, all
rights of the Grantor in insurance policies then in force shall pass to the purchases at the purchases at
the foreclosure sale.
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0O759
WARNING: UNLESS GRANTOR PROVIDES BENEFICIARY WITH EVIDENCE OF
THE INSURANCE COVERAGE AS REQURIED HEREUNDER, BENEFICIARY MAY
PURCHASE INSURANCE AT GRANTOR'S EXPENSE TO PROTECT BENEFICIARY'S
INTEREST. THE INSURANCE MAY, BUT NEED NOT, ALSO PROTECT GRANTOR'S
INTEREST IF THE COLLATERAL BECOMES DAMAGED, THE COVERAGE BENEFICIARY
PURCHASES MAY NOT PAY ANY CLAIM GRANTOR MAKES OR ANY CLAIM MADE
AGAINST GRANTOR. GRANTOR MAY LATER CANCEL THIS COVERAGE BY
PROVDING EVDENCE THAT GRANTOR HAS OBTAINED PROERPTY COVERAGE
ELSEWHERE.
GRANTOR IS RESPONSIBLE FOR THE COST OF ANY INSURANCE PURCHASED
BY BENEFICIARY. THE COST OF THIS INSURANCE MAY BE ADDED TO GRANTOR'S
LOAN BALANCE. IF THE COST IS ADDED TO GRANTOR'S LOAN BALANCE, THE
INTEREST RATE ON THE UNDERLYING LOAN WILL APPLY TO THIS ADDED AMOUNT,
THE EFFECTIVE DATE OF COVERAGE MAY BE THE DATE GRANTOR'S PRIOR
COVERAGE LAPSES OR THE DATE GRANTOR FAILED TO PROVIDE PROOF OF
COVERAGE.
THE COVERAGE BENEFICIARY PURCHASERS MAY BE CONSIDERABLY MORE
EXPENSIVE THAN INSURANCE GRANTOR CAN OBTAIN ON ITS OWN AND MAy NOT
SATISFY AND NEED FOR PROPERTY DAMAGE COVERAGE OR ANY MANDATORY
LIABILITY INSURANCE REQUIREMENTS IMPOSED BY APPLICABLE LAW.
4. To defend any action or proceeding purporting to affect the security hereof or the rights
or poWers of Beneficiary or Trustee, and to pay all costs and expenses, including cost of title search
and attorney's fees in a reasonable amount, in any such action or proceeding, and in any suit brought
by Beneficiary to foreclose this Deed of Trust.
5. To pay all costs, fees and expenses in coImection with this Deed of Trust, including the
expenses of the Trustee incurred in enforcing the obligation secured hereby and Tmstee's and
attorney's fees actually incurred, as provided by statute.
6. Should Grantor fail to pay when due my taxes, assessments, insurance premiums, liens,
encumbrances or other charges against the Property herein above described, Beneficiary may pay the
same, and the amount so paid shall be added to and become apart of the debt secured in this Deed of
Trust.
IT IS MUTALLY AGREED THAT:
1. In the event any portion of the Property is taken or damaged in an eminent domain
proceeding, the entire amount of the award or such portion as may be necessary to fully satisfy the
obligation secured hereby, shall be paid to Beneficiary to be applied to said obligation.
2. By accepting payment of any sum secured hereby after its due date, Beneficiary does
not waive its right to require prompt payment when due of all other sums so secured or to declare
default for failure to so pay.
3. The Trustee shall reconvey all or any part of the Property covered by this Deed of Trust
to the person entitled thereto on written request of the Grantor and the Beneficiary, or upon
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satisfaction of the obligation secured and written request for reconveyance made by the Beneficiary
or the person entitled thereto.
4. Upon default by Grantor in the payment of any indebtedness secured hereby or in the
performance of any agreement contained herein, all sums secured hereby shall immediately become
due and payable at the option of the Beneficiary. In such event and upon written request of
Beneficiary, Trustee may proceed to foreclose this Deed of Trust as a mortgage or direct the trustee
to foreclosure this Deed of Trust by advertisement and sale in accordance with "Idaho Law". In
latter event, beneficiary or the Trustee shall execute and cause to be recorded written notice of
default and election to sell the Property to satisfy the obligations secured hereby and proceed to
foreclose this Deed of Trust in accordance with the Idaho Trust Deed Act. In the event of sale by
advertisement and sale, any person except Trustee may bid at Trustee's sate. Trustee shall apply the
proceeds of the sale as follows (1) to the expenses of the sale, including the compensation of Trustee
and a reasonable charge by the trustee's attorney; (2) to the obligation secured by this Deed of Trust;
(3) the surplus, if any, shall be distributed to the persons entitled thereto in accordance with the
Idaho Law.
5. Upon sale by advertisement and sale, Trustee shall deliver to the purchaser at the sale
its deed, without warranty, which shall convey to the purchaser the interest in the Property which
Grantor had or had the power to convey at the time of his execution of this Deed of Trust, and such
as he may have acquired thereafter; Trustee's deed shall recite the facts showing that the sale was
conducted in compliance with all the requirements of law and this Deed of Trust, which recital shall
be prima facie evidence of such compliance and conclusive thereof in favor of bona fide purchaser
and encumbrances for value.
6. The power of sale conferred by this Deed of Trust and by the Idaho Law is not an
exclusive remedy, and Beneficiary may pursue any other remedy available under Idaho Law.
Without limiting the foregoing, in the event of default by Grantor in the payment of any
indebtedness secured hereby or in the performance of any agreement contained herein, Beneficiary
may at any time, without notice, either in person or by agent or by a receiver to be appointed by a
court, enter upon and possess the property to preserve the Property and collect all rents, issues and
profits.
7. In the event of the death, incapacity, disability or resignation of Trustee, Beneficiary
may appoint in writing a successor trustee, and upon the recording of such appointment in the
mortgage records of the county in which this Deed of Trust is recorded, the successor trustee shall be
vested with all powers of the original trustee. The trustee is not obligated to notify any party hereto
of pending sale under any other Deed of Trust or of any action or proceeding in which Grantor,
Trustee or Beneficiary shall be a party unless such action_or proceeding is brought by the Trustee.
8. This Deed of Trust applies and inures to the benefit of, and is binding not only on the
parties hereto, but on their heirs, devisees, legatee, administrators, executors and assigns. The term
Beneficiary shall mean the holder and owner of the note secured hereby, whether or not named
Beneficiary herein.
9. Grantor agrees to rehnburse Beneficiary for all costs, expenses, and reasonable
attorneys' fees that Beneficiary incurs in connection with the realization or enforcement of any
obligation or remedy contained in the Note, this Deed of Trust or other related documents, with or
without litigation, including without limitation any costs, expenses and fees incurred: (a) in any
foreclosure, trustee's sale or deed in lieu of foreclosure or trustee's sale (b) on appeal; (c) in any
petition for review; (d) in any arbitration or mediation; (e) in any action contesting or seek/rig to
restrain, enjoin, stay, or postpone the exercise of any remedy in which Beneficiary prevails; (f) in
any bankruptcy, probate, receivership or other proceeding involving Grantor; and (g) in connection
with all negotiations, documentation, and other actions relatIng to any work-out, compromise,
settlement or satisfaction of the debt secured hereby or settlement of any debt secured by this Deed
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of Trust or which is evidenced by the Note or related documents. All such costs, expenses, and fees
shall be due and payable upon demand and shall be secured by this Deed of Trust.
Dated as of the £Lrst date written above.
STATE OF IDAHO )
) SS.
GRAN,T/~R:
-Spouse's Name
This instrument was acknowledged before me on~ 0~)l ~)~
by
Seal (if any)
STATE OF IDAHO )
COUNTY OF ¢~(~e~'l~ss-
This instrument was acknowledged before me on ;L/
Signature of notarial officer
by
Seal (if any)
Title (and Rank)
My commission exp/~es '
00762
EXH~IT A
(Insert legal description of real property)
Part of Section 29, T34N RllSW of the 6th P,M., Lincoln
County, Wyoming, being more particularly described as follows:
Beginning 850 feet West of the N~ corner of said Section 29
and running thence South 575 feet;
thence %~est 757.7 feet;
thence North 575 feet;
thence East 757.5 feet to the point of beginning.
LESS AND EXCEPT the following described land:
That part of the NE~ of Section 29, T34N RllSW, Lincoln
County, Wyoming being part of that tract of record in the
Office of the Clerk of Lincoln County in Book 135PR on page
89, described as follows:
BEGINNING at a spike on th~ north line of said Section 29,
S 89°47'34'' W, 1002.34 feet, from the northeast corner of the
NW~ of said Section 29;
thence S 89°47'34'' W, 183.81 feet, along the north line
of said Section 29, to a spike;
thence S 00012'36'' E, 23~.99 feet, along a line
perpendicular to said north line, to a point;
thence N 89o47'34" E, 183.81 feet, along a line parallel
with said north line, to a point;
thence N 00°12'26'' W, 236.99 feet, alon~ a line
perpendicular to said north line, to the SPIKE OF
BEGINNING.
SERIAL $ FOR HOME ALB0294800RABC