Loading...
HomeMy WebLinkAbout875858030.1_491z~ ': ' ; SER-04-01 TUE 09:36 AH R, E, OF":.STAR VALLEY FAX NO, 6547068 P, 02 KNOW ALL MEN BY THESE PRESENTS, ~at Davlfl R. ~p~rlo~k and Ma~la A. 8purle=k, husband an~ wife, herein referred to as "mo~gago(', of 1145 Bluebird, Munster, IN ~8321, to secure the payment of the principal sum of Six Hundred Fo~y- ~o Thousand and NotlQO Dollars ($842,000,00), wlffi interest as evidenoed by a Promis~o~ Note dated of even date herewith to the.order of Centu~ Equ~ment Company, Inc., a Utah co.ration, of 4~3 centu~ Drive, salt Lake CI~, UT 64123, pHnoipal and interest to be~ayable as follows: With In~St on the~unpaid principal ~alan~ from September 7, 2001, Until paid, at the rat(~ of seven and one-half parent (7,5%) per annum. Principal and a~rue~:i interest on the unpaid balance shall be payable to Noteholder i~ instal~ments of prln=ipal and interest a=oording to the following schedule: Due Date of i_n_sta!lm~n. Et Amount of Installment · December31, 2001" $ 100,000.00 · March7. 2002 25,000.00 · September 7, 2002 ' 2.5,000.00 . Maroh 7, 2003 Remaining Balance The entire remaining balanoe in(;luding prinoipai and accrued, unpaid interest is due and payable on March 7, 2003, hereby mortgages to mc. rtgagee, the following desoribed real estate (=ometimes referred to as "the prope~"), situated in the County of Lincoln, state of Wyoming: That real property more particularly described on AEachment A Which Is ine. orpotated herein, and made a part hereof by this reference. together with heredltam~nts and appurtenances end all other rights thereunto belonging, or in anywise nnw or hereafter appertaining, and the reversion and reversions, remainder an¢ remainders, rents, issues, and prol'ltlt thereof. ' RU~-31-O1 FRI 11:13 PlI'I R. E, OF STPlR VRLLEY FR× NO, 8547088 P. OS/10 Moagagor hereby re~linquiahss and waives all rights under and by vlaue el the homestead laws of the S~ile of Wyoming and covenants that he Is lazily aelsed of th~ pmml~,~, that they ~re frae from all oncUmbranc~ and hereby covanan~ to warrant an~ ~efen~ the lite of the premise~ against the la~ul claims of ali persons whomsoever, And mo~gagor ~venante with mo~agee as follows: 1. In case of default in any .of the payments stipulated In th~ note, mortgagor, aa further se=urlty for this mortgage and the note secured thereby, hereby assigns, eats over, and cg~vey6 to mortgagee all rents, issues, and profits from the property. 2, 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'i,' liabilities, obligations, and encumbrances of every nature on said property. 3, To perform, complY with, and abide by each end every the agreements, stipulations, conditions, and covenants, set forth in said Note and this Mortgage' or either, 4. Failure by th~ mortgagee to exercise any of the rights or options herein provided shall'not constitute a waiver of any rights or options under said Note or the Mortgage accrued or thereafter accruing. 5, Nothing shall be done on or In connection with the property that may impair mortgagee's secUrity hereunder,, mortgagor will commit, permit or suffer no Waste, Impairment or deterioration of the property nor any pert thereof, and the property .shall be continuously maintained In good and sightly order, repair, and rendition by mortgagor at his expense.. 6. in case mortgagor defaults in the payment of ground rents, if any, taxes, asaeBaments, water, or ether governmental or munioipal charges, or other lawful charge~ as herein provlcle¢::~ mortgagee may without notice or demarld pay the same at the expense of mortgagor. Mortgagor shall repay such ~ums so paid and ell expense~ ,' AU~-31-O1 FRI 11113 AN R, E, OF'STAR VALLEYFA× NO, 6547068 P, 05/10 087 858 5 7 8o incurred by mortgagee, ~lith interest thereon from the date of payment, at 7,5% per annum,' and the same shall'be a lien on the promises and be ~ecured by the note and by these presents; In defa~ilt of making such repayments the whole amount hereby secured if not then due ~hall, if mortgagee so elects, become due and payable forthwith, anything herein c~ntained to the contrary notwithstanding, 7. in the event the property Is sold under foreclosure and the proceeds am insufficient to pay the tot~'~i indebtedness secured hereby, mortgagor binds .himself personally to pay the unp~'id balance, and mortgagee will be entitled to a deficiency judgment, a, In case defa~'it I~ made In the payment, when due, of the indebtedness hereby secured, or of any ir:~atallment thereof or any paP. thereof, or In case of breach of any covenant or agreement: heroin ~ontalned, upon 30-days' prior written notice as set forth in the Note. the whets of the then indebtedness secured hereby, inclusive of principal, interest~ arrearages, ground rents, if any, taxes, assessments, water charges, expenditures for repair~ or maintenance, together with all other sums payable pupauent to the provisions hereof, shall become Immediately due and payable, at the elation of mortgage; any failure to exerdse such option shall not constitute a waiver of the right to exercise the Same at any other time; and it shall be lawful for mortgagee to proceed to enfome the provisions of this mortgage either by suit at law or In equity, as It may ele~, or to foreclose this mortgage by advertisement and sale of the premises, at publt~ auction for cash, aocordini;i to Wyoming statutes governing mortgage fore¢l{3aures, and cause to be executed and :delivered t~) the purchaser Or purchasers at any such sale e gOOd and sufficient deed c.,r deeds of conveyance of the property so sold, and to apply . the net proceeds arising fr:)m such sale first to the paYment of the costs end expenses of such foreclosure and sale, Including a reasonable attorney fee, and In payment of all money~ expended or edw)noed by mortgagee pursuant to the provisions of Paragraph 7 hereof, and then to the payment of the balance due on account af the' principal Indebtedness secured he'eby, together with Interest thereon and the surplu~ if any, 'shall'be paid by mortgage.~ on demand to mortgagor, ]n ease mortgagee fells promptly to foreclose on the happe;nlng of any default, it shall not thereby be prejudiced in its right to.foreclosure at any lime thereafter during which such default continues, and shall not be prejudiced in its for!~dosure rights in ~ase of further default. ~qU~--31-O1 FRI ;I1~14 ~qPl R, E, OF.'~3'i?~qR V,qLLEY F~q× NO, 6~470~8 P, 07/10 0875858 5 8. In case of any default whereby the right of foreclosure occum hereunder, me~gagee ~hall, upon expiration of any ~ppllcabl~ ~tatuto~ mdemptlon period or pos.easlon period, become entitled to exclusive possession, uae, and enjoyment of alt ~rope~, and to all rents, IssUeS, and profits thereof, from the a~cruing of such dght and during the pendency of foreclosure proceedings, If applicable; and such ren~, Issues, and pro~s sh~all be delivered to mo~gagee en ~queat, and on refusal, the dellve~ of such possession, rent., I~.uee, and profits may be enfomed by m~gag., by any appmpri~ate civil suit or pro~eding, including ~lon or a~lons In eJe~men], ar forceable ent~, or unla~ul detainer and moffgag.e .hall ba ent~led to a receiver for the prope~ an,~:al rents, ~sues, and pro~[s thereof, a~er any such default, Including the time ~vered bY f~re~l~sum proceedings, and shall be entitl~ a maker of right without regard to the solvency or insolvency of mo~gagor or the then own.r of th. prope~, and;,~¥1thou~ regard to the value of the prope~ or the sufficiency thereof to discharge the mo~gage debt and lo.closure costs, fa. and expense.; and .u~h m~iver may be appo~nt.d by any ~ou~ of ~ompetent jurisdiction, and .11 rents, Issues, pmflb, Income, and revenue of the prope~ shall be applt~ by such m~er, acco~lng to law and the ore'ers and dim~lons of the couP, 10, The ~venah'.~s heroin ~ntalned shall bind, and the benefits and advan~ges shall Inure to~;~the mspe~lve helm, exeoutom, admlnlstmtom, and aaalgns of the paRle~ hereto, Whenever used, the singular number shall Include the plural, the plural the sihgular, and the use of any gender shall include all genders, 11, Whenever used herein, lhe terms "mo~gagof' and "mo~gagee" ln~ude all the padlea to this instrument and the hairs, Jegal represen~tlves, and asalgne of individuals, and the successom and esslgn= of co~eratlons; and the te~ "Note" includes all the notes herelrt descrlbe~ If more than one, 12.~ Mo~agor an:~] mo~gagee undemtand and agree that modgagor intende to aubdNide the prope~ and ~ell Io~ ana will need ps,iai re!eases from this mo~age for the 'l~s ~ld pdor ~ the mo~g=;ge being paid In full, Mo~gagee will grant au~h padial releases on the terms and condlt!ens stated in this paragraph and cooperate with moggagor In receiving Lincoln Coun~'s :~pproval of such subdivision'.. At their gption prior to payment af the remaining balance In !:ull, mo~gagor may obtain the release' of any and all lots from the prope~, To obtain the release of a lot, mo~gagor shall pay to mo~gagee that amount which is equal t(~ 75% of the sales price of the lot, Modgagor wlll provide ' ~qUO-31-O1 FRI 11:14 ~qPl R, E, OF'STPlR V~qLLEY F~q× NO. 6647088 P. 08/10 i mortgagee with a copy of th:?~ sales contract or other proof of the amount of the sales price of any lot for which a par~lal.'mlease is desired, The amount paid for the partial release of a lot will be applied to the pi~rchase price and shall be applied to the remaining principal balanm only. Morlgagor wi~ll provide a sur~ey and legal das~fipUon of the subdivision and the tots to be cold prepared by a ~urveyor duly ticensed In the State of Wyoming. If mortgagor ele~ to exerol$~ their option to have any lots releaeed pflor to payment having been made In full, they wilt be responsible for any and all expense~ for ~uch release, InclUding without limitation,!'~Survey expense, title insuran~'e~ recording fees and.legal fee, for preparation ef the neces~a~ documents. IN WITNESS WHEREOF, mortgagor has executed this Mortgage as of the 1st day Of September, 2001, :i .. David~. 8puflock i Marcia A. S~urlo~k STATE OF INDIANA ~"~ COUNTY OF LAKE The foregoing Mortl~age wa~ acknowledged before me by David R. Spudook and Marcia A, Spurtook,~husb,nd and ~fe, this 6TH day of SEPTEMBER 2001 - Witness my hand and official seal. ~ NOTARY PUBLIC GLORIA MILLER L~E CO RESIDEN~ /]~'"-.-"~ - ' ~1 ~J*, ~ .,i~/ My Commission Exp res ~.?~... ,~1~;... i~ Exhibit "A" PARCEL 4: Located in To~nshipi 36 North, Range 119 West, 6th P.M., Wyoming That portion of the SW 1/4. of S ecfion 15, lying West of the Westerly right-of-way boundary ofU. S. Highway 89 and EXCEPTING therefrom the following described tract: ' Beginning at a'point which lies 730 feet, more or less, East of the SW comer of said Section 15, (said point more specifically being located in the center of a canal), and running Northeasi:e'rly along the centerline of said canal, 900 feet, more or less; thence easterly ?nd parallel to the South line of said Section, 1000 feet, more or less, to the West right-of-way line of Highway 89; thence Southerly along the West right-of-way of said highway to the South line of said Section; thence Westerly along said South line, 1450 feet, more or less, to the point of beginning. : , PARCEL 5: Located in Township 36 North, Range 119 West, 6th P.M., Wyoming. Beginning at a point Which lies 730 feet, more or less, East of the SW comer of said Section 15, (said point more'specifically being located in the center of a canal), and running Northeasterly along the centerline of said' canal, 900 feet, more or less; thence Easterly a~d parallel to the South line of said Section, 1000 feet, more or less, to the West right-of-way line of Highway 89; thence Southerly along the West right-of-way of said highway to the South line of said Section; thence Westerly along said South line, 1450 feet, more or less, totthe point of beginning ~.