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Home My WebLink About911476 RECEIVED 9/2/2005 at 10:29 AM RECEIVING# 911476 BOOK: 596 PAGE: 436 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY (;00 36 MORTGAGE DEED EXECUTED this..9[,OT day of August, 2005, by WAYNE K. HESSON and KAREN J. HESSON, Husband and Wife, as tenants by entireties, hereinafter called the MORTGAGOR(S), to RON BOULTER, hereinafter called the MORTGAGEE: (Whenever used herein, the term "MORTGAGOR" and "MORTGAGEE" include all the Parties to this instrument and their heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporation; and the term "NOTE" includes all the notes herein described if more than one.) WITNESSETH: THAT FOR GOOD and valuable considerations, and also in consideration of the aggregate stun named in the Promissory note of even date herewith, hereinafter described, the MORTGAGOR hereby grants, bargains, sells, aliens, remises, conveys, and confn'ms unto the MORTGAGEE, all the certain land of which the MORTGAGOR is now seized and in possession, situated in Lincoln CountY and state of Wyoming, more particularly described as follows, to-wit: Lot 5 of Hesson Commercial Park, Lincoln County, Wyoming, as described on the official Plat No. 81-G, filed December 16, 2003, as Instrument No. 895990 of the records of the Lincoln County Clerk. TO HAVE AND TO HOLD the same together with the tenements, hereditaments, and appurtenances thereto belonging, and the rems, issues, and profits thereof, unto the MORTGAGEE in fee simple. And, the MORTGAGOR covenants with the MORTGAGEE that the MORTGAGOR is indefeasibly seized of said land in fee simple; that the MORTGAGOR has good right and lawfttl authority to convey said land as aforesaid; that the MORTGAGOR will make such further assurances to perfect the fee simple title to said land and the MORTGAGEE as may reasonable be required; that the MORTGAGOR hereby warrants the title to said land and will defend the same against the lawful claims for all persons whosoever; and that the said land is flee and clear of all encumbrances. PROVIDED, ALWAYS, that if said MORTGAGOR shall pay unto said MORTGAGEE, the certain Promissory Note, dated Janurary 29, 2004, in the amount of ONE HUNDRED THOUSAND ($100,000°°) DOLLARS and NO/100, with EIGHT (8%) PERCENT interest, as required by said Promissory Note. See Schedule "A". The undersigned shall perform, comply with, and abide by each and every agreement, stipulation, condition, and covenant thereof, and of this Mortgage, then this mortgage and the estate hereby created shall cease, determine and be null and void. MORTGAGE DEED Hesso~o~ltcr Page 1 of 3 ASSUMABLE and TRANSFERABLE MORTGAGE. Each Party to this mortgage shall be bound individually, severably, and by capacity of representation by the terms therein. If all or any part of the property or any interest in it is sold or transferred without the MORTGAGEE'S prior written consent, the MORTGAGEE may at their option, require immediate payment in full of all sums remaining owed under this Promissory Note and/or mortgage. The MORTGAGEE shall give the MORTGAGOR notice of acceleration. AND THE MORTGAGOR hereby further covenants and agrees to pay promptly, when due, the principal and interest and other sums of money provided for in said note and this mortgage, or either; to pay all and singular the taxes, assessments, levies, liabilities, obligations, and encumbrances of every nature on said property; to permit, commit, or suffer no waste, impairment, or deterioration of said and/or the improvements thereon at any time; to pay all costs, charges and expenses including reasonable attorney's fees and title searches, reasonably incurred or paid by the MORTGAGEE because of the failure of the MORTGAGOR to promptly and fully comply with, and abide by each and every agreement, stipulation, condition, and covenants set forth in said Note and this mortgage, or either. In the event the MORTGAGOR fails to pay, when due, the tax assessment, property insurance, or other sum of money payable by virtue of said Note and this Mortgage, or either, the MORTGAGEE may pay the same without waiving or affecting the option to foreclose or any other right hereunder, and all such payments shall bear interest from date thereof at the highest lawful rate allowed by law. IF ANY SUM of money herein referred to be not promptly paid at%r the same becomes due, or if each and every of the agreements, stipulations, conditions, and covenants of said Note and this Mortgage, or either, are not fully performed, complied with, and abided by, then the entire sum mentioned in said Note and this mortgage, or either, are not fully performed, complied with, and abided by, then the entire sum mentioned in said Note, and this Mortgage, or the entire balance unpaid thereon, shall forthwith and thereafter, at the option of the MORTGAGEE, become and be due and payable, anything in said Note or herewith to the contrary notwithstanding; and MORTGAGOR hereby grants to MORTGAGEE, their heirs, and assigns, a Power of Sale over the property described above which may be exercised by MORTGAGEE or their heirs and assigns in case of such default as described above, and pursuant to such Power of Sale, MORTGAGEE, their heirs and assigns may foreclose on said property and sell and dispose of or cause to be sold or disposed of, the above property and all rights, title, benefit, and equity of redemption of the MORTGAGOR, their heirs or assigns, therein, at public auction, for cash according to Title 34, Chapter 4, Wyoming Statutes as the same presently exists or may hereafter be amended. MORTGAGE DEED Hesson/Boulter Page 2 of 3 00438 IN WITNESS WHEREOF, the MORTGAGOR has set their hand and seal the day and year first above written, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. DATED this ~e~-day of Augnst, 2005. STATE OF WYOMING ) ) SS. COUNTY OF LINCOLN ) BEFORE ME, the undersigned authority, this day, personally appeared Wayne K. Hesson and Karen J. Hesson, and acknowledged that they executed the foregoing Mortgage Deed as their own free act and deed, WITNESS my hand and notarial seal this ,~l y{' daY of August, 2005. NOTARY PUBLIC My Commission Expires: G,Q-/,~~ MORTGAGE DEED Hesson/Boulter Page 3 of 3 PROMISSORY NOTE '"00439 $100,000~ January 29, 2004 Afton, Wyoming THE UNDERSIGNED, jointly and serverably, if more than one, promise to pay RON BOULTER, of Thayne, WY 83127, the principal sum of ONE HUNDRED THOUSAND ($100,000m) DOLLARS and NO/100 and interest of EIGHT (8%) PERCENT from the 29th day of January, 2004. The principal and interest shall be payable to note at such place as the holder may designate, in the following manner: Interest shall commence January 29, 2004, at EIGHT (8%) PERCENT per- annum. Interest payments are to be paid monthly over 5 years in the amount of SIX HUNDRED SIXTY-SEVEN ($667°0) DOLLARS and NO/100; the first payment due on February 20. 2004, to include miscellaneous costs in addition to interest, and made on the 20th of each month thereafter. There shall be a five (5) day grace period for late interest payments. Thereafter there shall be a late fee of TWENTY-FIVE ($25m) DOLLARS and NO/100 assessed for every day the payment is late after the five day grace period. ONE HUNDRED THOUSAND ($100,000°°) DOLLARS and NO/100 shall be due and payable on or before February 20, 2009, paying the note in full at that time, to include any unpaid late fees and/or interest 4. Payments shall be made payable to Ron Boulter at a place that the holder may designate. 5. All principal unpaid and any accrued unpaid late fees and interest shall be due and paid 'no later than February 20, 2009. 6. Any payments shall be applied first toward interest late fees and then late interest. 7. This note shall be due immediately if the security is transferred, conveyed or sold. Said note is non-transferable. Purchaser may prepay this note without penalty at any time. Prepayment of principal shall reduce the monthly interest payment to actual interest owed monthly. IN THE EVENT OF DEFAULT in the payment of any installment of principal or interest, and if such default is not made good within ten (10) days after notice the same becomes due and payable, the entire principal sum and accrued interest shall, at the option of the holder, become immediately due and payable, without notice. Failure to exercise this option shall not constitute a waiver of the right PROMISSORY NOTE Hesson/Boulter Page I of 2 0044 0 to exercise the same in the event of any subsequent default. In the event of default, the undersigned, jointly and severally, if more than one agree to pay all costs of collection, including a reasonable attorney fee to the holder's attorney, whether suit be brought or not. PRESENTMENT, protest, notice or protest, and notice of dishonor are hereby waived. SECURITY, this note is secured by mortgage on Lot 4, Block 7, in the town of Alton, Lincoln County, Wyoming as described in the official plat thereof. DATED this __ day of January, 2004. S/S Wayne K. Hesson WAYNE K. HESSON S/S Karen J. Hesson KAREN J. HESSON STATE OF WYOMING COUNTY OF LINCOLN ) ) ss. ) On this day of January, 2004, before me a Notary Public for the State of Wyoming, the foregoing Promissory Note was acknowledged by Wayne K. Hesson and Karen J. Hesson. WITNESS my hand and official seal. NOTARY PUBLIC My Commission Expires: PROMISSORY NOTE Hesson/Boulter Page 2 of 2