HomeMy WebLinkAbout910119 RECEIVED 7/20/2005 at 10:39 AM
RECEIVING # 910119
BOOK: 591 PAGE: 543 JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
q054 3
INSTALLMENT SALE AGREEMENT
THIS AGREEMENT made and entered this llth day of July, 2005,
by and between PATRICIA E. LOONEY, Box 322, Pinedale, Wy., 82941,
Party of the First Part and hereinafter called the "Seller:,
and HAROLD D. WHITMAN and VALORIE LYN WHITMAN, husband and wife,
Box 375, LaBarse, Ny.-, 83123, Parties of the Second Part and
hereinafter called the "Purchasers"
W I T N E S S E T H:
Seller agrees to sell unto Purchasers and Purchasers a~ree
to buy from Seller the following described real estate in the
County of Lincoln and State of Wyoming, to-wit:
Lot 35 of the Viola Subdivision, Phase I, as the
said subdivision appears on the plat and map thereof
on file and of record in the office of the County Clerk
of Lincoln County, Wyoming, and
TOGETHER WITH all buildings, fences and improvements
situate thereon or appurtenant thereto, AND TOGETHER
WITH all water and water rights, ditch and ditch rights,
and reservoir.and reservoir rights situate thereon or
appurtenant thereto;
BUT SUBJECT, NEVERTHELESS, 'TO the provisions of United
States patents, AND SUBJECT FURTHER TO easements and
rights of way of record or in actual use for telephone
transmission lines, electric transmission lines,
irrigation ditches and canals, and roads and ways, and
SUBJECT FURTHER TO all outstandin~ mineral interests
AND SUBJECT FURTHER TO accrued and accruins taxes,
and for said real estate Purchasers shall pay, and Seller shall
accept Thirteen Thousand Dollars ($13,000.00) together with
accruing thereon at the rate of Eight Per Cent (8,%) Per Annum
from and after the 15th day of July, 2005, shall be paid by
120 monthly installments, each in the amount of $157.73,
commencins-on 'the 15th day Of Augus't, 20'05, and c°ntinuin~
on the 15th day of each month thereafter succeeding until said
· purchase price and all interest have been fully paid~
,0 0 5 4 4
Ail of the aforesaid installments shall be made to Seller
at Box 322, Pinedale, Wy., 82941, or such other ~lace as Seller
may hereafter designate;
Seller shall not be obligated to accept any of the foregoin~
installments of the principal sum and interest except at the times
and in the amounts hereinabove set forth, except however, SEller
a~rees that after the first day of January, 2005, Purchaser may
at the option of Purchasers pay, without penalty, the then un~aid
balance of the purchase price to~ether with the interest accrued
to date of payment.
THE PARTIES FURTHER AGREE AS FOLLOWS:
1- Possession, assignment, liens, taxes and buildings.
(a) Purchasers may have possession of the above property upon
execution of this a~reement, Purchaser has inspected the property
and accepts the property in its present condition;
(b) Purchasers shall not surrender possession of the above
property nor part with possession to any persons whomsoever, nor
shall Purchasers assign or sell this a~reement to any person whom-
soever without first havin~ obtained the written consent thereto
of the SEller:
(c) Purchasers shall pay before delinquency all taxes and
assessments on the property comin= due on or after the first day
of January, 2006;
(d) Purchasers shall not suffer nor permit any liens, other
than liens of taxes, encumbrances and mortgages to accrue or attach
to the above property durin~ the term hereof and in event the same
shall accrue or attach Purchasers shall immediately pay
and dissolve the same and upon failure to do so Seller may pay the
same and all sums so expended by Seller in the satisfaction, dissolution
and dischar~'e thereof shall accrue interest at the rate of EIGHTEEN PER
CENT (18~) PER ANNUM from the time of payment and the same shall
be immediately due and payable by Purchasers unto Seller;
(e) If Purchasers fail or neglect to pay any installment
of taxes or assessments, when due, Seller shall have the right to
make such payment and to add the amount thereof, to~ether with
interest at EIGHTEEN PER CENT (18%) PER ANNUM to the obligation
of Purchasers hereunder;
2- Deliver[ of warranty deed;
Upon payment of the purchase price and all interest, and provided
that Purchasers have otherwise performed as required of Purchasers
herein, Seller shall convey the above property unto Harold D.
Whitman and Valorie Lyn Whitman, husband and wife, by means of
statutory form of warranty deed;
3- Taxes and assessments.
All taxes assessed and levied upon the property in the year
200~ and prior thereto shall be paid by Seller, and Purchasers
shall pay all of the 2006 taxes:
4- Timely performance - default.
Time is of the essence of this a~reement and Purchasers shall
Pa~e Two
,.00545
make all payments promptly as herein provided; Purchasers expressly
understand and agree that if Purchasers shall fail to make any
of the aforesaid payments to Seller, in the amount, manner and
within the time herein provided, or should Purchasers fail to
perform any of the other terms and conditions hereof, in the manner
and within the time herein provided, and shall fail to make said
delinquent payments and otherwise remedy the default of other
terms and conditions within thirty (30) days after written notice
thereof is deposited in the United States mail, postase prepaid,
and addressed to Purchasers at the followins address of the Purchasers,
Harold D. and Valorie Lyn Whitman
Box 375
LaBar~e, Wy. 83123
the Seller may at the option of Seller declare this contract ended,
cancelled and of no further force and effect, and Seller may file
for record in the office of the County Clerk a declaration of
forfeiture (setting forth the facts of such failure on the part
of Purchaser) and the same shall be sufficient to cancel all
obligation hereunder on the part of Seller and shall fully reinvest
Seller with all rights, title and interest hereby a~reed to be sold,
conveyed or delivered and Purchasers shall forfeit all right, title
and interest in and to the'above property including any and all
improvements and Seller shall have the right to re-enter and take
possession, without demand, of the above-described real property
and all improvements thereon, including those erected or placed
thereon by Purchasers and in event of such repossession Seller may
keep said real property as Seller's own and absolute property bein~
hereby released from all obligation at law and in e~uity to convey
said property, and in such case all monies forfeited as described
above shall be considered as rental for said property and as
liquidated damages for failure on the part of Purchasers to perform
and comply with the terms of this a~reement;
5- Construction.
All words used in this a~reement includin~ the words "Purchasers"
and "Seller" shall be construed to include the plural as well as
the singular number and words used herein in the present tense shall
include the future as well as the present and words used in the
masculine ~ender shall include the feminine and neuter;
6- Effect of waiver.
The waiver of Seller of any covenant, condition or agreement
herein contained shall not vitiate the same and the terms, conditions,
covenants and agreements set forth herein shall apply, inure to
and bind the heirs, executors, administrators and assigns of the
respective parties hereto;
7- Persons bound.
Ail provisions hereof shall extend to, inure to the benefit
of and be binding upon the respective parties and their heirs,
devisees, personal representatives and assigns;
8- Litigation - allowance of attorney's fees to prevailing part~a
If any action is brought to enforce this agreement or any
provision hereof, to rescind the same, to collect damages for an
alleged breach hereof, or for declaratory judgment hereunder, the
prevailins party in such action, whether plaintiff or defendant,
shall be entitled to an allowance for reasonable attorney fees, in
addition to costs of suit;
9- Interest on past-due installments.
Any installment of the principal sum or accrued interest, or
both, not paid when due shall accrue interest at the rate of
EIGHTEEN PER CENT (18~) PER ANNUM from the due date until paid;
.Pa=e Three
IN WITNESS WHEREOF, we hereunto set our hands the daft and
year first above written.
PATRICIA E. LOONEY,
HAROLD D. WHITMAN, Purchaser
VALORIE LYN WHITMAN, Purchaser
STATE OF WYOMING )
) ss
County of Sublette )
The foregoing instrument was acknowledged before me bff
Patricia E. Looney, this llth day of July, 2005.
Witness my hand and official seal.
STATE OF WYOMING )
) ss
County of Lincoln )
The foregoin~ instrument was acknowledged be~ me by
Harold D. Whitman and Valorie Lyn Whitman, this/o day
of July, 2005.
My commission
ex~ires:m~ZqOz~a~
Page Four