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Home My WebLink About911785 RECEIVED 9/13/2005 at 10:45 AM RECEIVING # 91178,5 BOOK: 597 PAGE: 4;49 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY INSTALLMENT SALE AGREEMENT ,7 0O449 THIS AGREEMENT made and entered this 5th day of August, 2005, by and between PATRICIA E. LOONEY, Box 322, Pinedale, Wy., 82941, Party of the First Part and hereinafter called the "Seller", and MICHAEL W. TRAUGHBER and JEREMIAH J. TRAUGHBER, Box 176, '%aBar~e, -Wy., 83123, Parties of the Second Part and hereinafter called the "Purchasers". W~I T N E S S E T H: Seller a~rees 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: Lots 34 and 36 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 d~tch 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 accruing taxes, and for said real estate Purchasers shall pay, and Seller shall accept Thirty Two Thousand Dollars ($32,000.00) to~ether with accruing interest thereon at the rate of Eight Per Cent (8~) Per Annum from and after the 10th day of August, 2005, shall be paid by 120 monthly installemnts, each in the amount of $339.72, 'commencing' on"the 10th day of September, '2005, and continuin~ on the 10th day of each month thereafter succeedih~ ;until said purchase Price and all interest has been fully paid; : ;:00450 Ail of the aforesaid installments shall be made to Seller at Box 322, Pinedale, Wy., 82941, or such other place as Seller may hereafter designate; Seller shall not be obligated to accept any of the fore~oin~ 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, 2006, Purchaser may at the option of Purchasers pay, without penalty, the'then unpaid~ balance of the purchase price together 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, Purchasers have inspected the property and accept 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 discharge 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 Sell~r; . (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 warrant~ deed; Upon payment of the purchase price and all interest, and pro- vided that Purchasers have otherwise pepformed as required of Purchasers herein, Seller shall convey the above property unto Michael W. Trau~hber and Jeremiah J. Trau~hber, by means of statutory form of warranty deed; 3- Taxes and assessments. Ail taxes assessed and levied upon the property in the year 2005 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 00451 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 w~itten notice thereof is deposited:in the United States mail, postage prepaid, and addressed to Purchasers at the following address of the Pur- chasers, Michael W. Trau~hber and Jeremiah J. Trau~hber Box 175 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 includin9 any and all improvements and Seller shall have the right to re-enter and take possession, wi'thout demand, of the above-described real property and all improvements thereon, includin9 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 propert~ beiD~ hereby released from a[1.~%~ation at law and in equity to convey said property, and in such case all monies f.orfeited 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. Ail 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 wrssent t~se 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..a~reement 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 thei'c heirs, devisees, personal representatives and assi~'ns; 8- Litigation - allowance of attorney's fee~ to prevailin~ party. If any action is brought to enforce this a~reement or any provision hereof, to rescind the same, to collect damages for an alleged breach hereof, or for declaratory judgment hereunder, the prevailin~ 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; IN WITNESS WHEREOF, we hereunto set our hands the day and year first above written. PATRICIA E. LOONEY, Sell Mi~%qAEL-~. TRAUGH~R,~hrchaser Purchaser STATE OF WYOMING ) ) County of Sublette ) ss The foreg'oing instrument was acknowledged before me by Patricia E. Looney, this /3. day of_~,:~,~.~6f~, 2005. Witness my hand and official seal. ~6 t a r ~ ~-~ lic My commission expires: ~~ STATE .OF WYOMING County of Lincoln ss The fore~oins instrument Michael W. Traushber, this My Commission ~pires Feb. 7 2007 My commission expires: ~-7-o~ 'was acknowl~j~__b~fore me by 2o05. Notary Public The foresoin~ instrument was acknowledged before me by Jeremiah J. Traughber, this day of , 2005. UNITED STATES AIR FORCE My commission RHEIN-MAINAIRBASE, GERMANY expires: OFFICE OFSTAFF~dDGEADVOCATE pa~e Four