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HomeMy WebLinkAbout915405 ffim~t~1¡llil i~:í!i~I¡,·;·N~·;"'" (~ii:i·it·~:!"Í!:t· ~¡,!~ft:~~~:~;~~~, IY C00310 RECEIVED 1123/2006.at4:D8 PM RECEIVING # 915405 BOOK: 610 PAGE: 310 .JEANNE WAGNER LINCOLN COUNTY ClERK, KEMMERER, WY .Do not wrlieItype :above this line. FDrfilinJ} ¡wrposes Dnly. FORM 5014 (12-2005) RETURN TO PREPARER: Fann Cr-edit Services of America, PO Box B78 Casper, WY £2602 Galla1,hi¡' Debra C (307) ~700 F.arm Credit Services Df America REAL ESTATE MORTGAGE Forthe State of Wyoming Dpen-End TD Secure Present Bnd Future Db/igatiDns Bnd Advances Date: january 20,2006 Mortgagor(s): Cole W Jackson Bnd Eileen F Jackson, husband ~md wit€ Mailing Address: 1434 Coulson Av€ Kemm€r-er WY 83101-3920 ,.-, ,7 I t/ /.-. Ihe .ahov€ nam€d Mortgagor(s) in consideration Df the --exrension of cr-edit id€ntifi€d h€r€in and any futuT€, additional Dr prot€ctiV€ advanc-es made at Mortgagee's Dption, her-eby sell, convey, and mortgage to Fann Cr-edit Servic-es of America. FLCA, 5015 S 118th Str-eet, Omaha. NE 68137, Mortgagee, its succ-essors and assigns, from the !late her€of until all obligations secur-ed her€by ar-e paid in full, the following-described r-eal-estate in lincoln County(ies), Wvominq, to wit: A parœl of land located in Section 17, Township 22 North, Rang€ 116 W€Stofthe 6th PM, Lincoln County, Wyoming, mor-e particularly described as follows: All of those portions of R-esUTV€yLot 43, Lot 4, the NWY-.SEY-. and the NEy,.SW~ of said Section 17 located North€rly of said North€rly right-of-way boundary of Stat€ Highway 233. together with all Mortgagor's right, title, and inter-est in the property, now orheræfter acquir€d, including: all buildings, iixtur-es, crops, and improvements now on Dr her-eafter plac-ed upon the property; all appurterumc-es, water, irrigation, and drainage rights; all r-ents, issu-es, uses, income, profits, and Tights to possession; all oil, gas, grav€l, rock,or other minerals Df whatever natur-e, including geothermal r-esourc-es; all personal property that may integrally belong to or h€r-ea1ter become an integral part of the real--estate wheth€r attach€d Dr detach€d, including any appurtenanc-es and accoutr-ements of any structur-e or r-esidenc-e secur-ed her€by;-easements and other rights and int€r-ests now or at Bny time h€r€a1ter belonging to or in any way pertaining to the property, wh€tOOr Dr not specifically described her-ein; all Bbov€ and below 9round irrigation --equipment and acc-essori€s; and all JeaS€S, pennits, licenses, Dr privileges, appurtenant or nonappurtenantto too property, now Dr her-ea1ter issued, --extended, or r-eneW€d by Mortgagor(s), any State, the United States, Dr any d€partment, bur-eau, instrumentality, Dr Bgency ther-eof. The for-egoing is collectiv€ly r-ef€rr€d to in this document as the "property." It is understood and agr-eed between Mortgagor(s) and Mortgagee that this mortgage is f ¡V€n to secur-e the r€payment in full of the following described obligations, r€gardless of wh€ther Mortgagor(s) is(ar€) liable ther-eon, and all futur-e and additional loans Dr advances,prot€ctiV€ Dr oth€rwise, which may be made by Mortgagee, Bt its Dption, at the r-equest of, and to or for the Bccount of Mortga90r(s), too parti€s liable under the note(s) Dr cr-edit Bgreement(s) Dr any of them, for any purpose, plus inter-est tOOr-eon, all payable Bccording to the tenns of the note(s), cr-edit agr-eement(s), Dr Dther instrument(s) modifying 1he same. Date of Note(s) or Credit Agreement(s) D1/20/2006 . Principal Amount B7,880.00 Provided, hoW€V€r, that the total principal indebtedness outstanding and secur-ed h€r-eby at anyone time will not --exc-eed the sum of EIGHTY-SEVEN 'THOUSAND EIGHT HUNDRED EIGHTY ($87,880.DO), --exclusiV€ of inter-est and prot€ctiV€ advances authoriz€d her-ein or in the Joan af reement(s). Appo#: 35846; CIFo#: B6613; Noteo#:2D1 FORM 5014, ReaLEstate Mortgage 401TA .legal Doc. Date: .JanIJary 20,2006 F.age 1 0915405 C00311 NOTHING CONTAINED HEREIN SHALL CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED. This mortgage will be due Januarv 1, 2026. Mortgagor(s) hereby warrants that Mortgagor(s) holds fee simple title to the above described property, that Mortgagor(s) has good and lawful authority to mortgage the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Mortgagor(s) will warrant and defend the property at Mortgagor's expense against all claimants whomsoever. Mortgagor(s) also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. , Mortgagor(s) and each of themfurther covenant and agree with Mortgagee as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, Or charges upon the property or under any lease, permit, license, or privilege assigned to Mortgagee as additional security to this mortgage, including those in or on public domain. 2. To insure and keep insured buildings and other improvements, including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Mortgagee. Such insurance will be approved by and deposited with Mortgagee, and endorsed with a mortgage clause with loss payable to Mortgagee. Any sums so received by Mortgagee may be applied in payment of any indebtedness matured or unmatured secured by this mortgage, or at the option of Mortgagee may be used to pay for reconstruction of the destroyed improvements. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail. Mortgagor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Mortgagee and by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same. Mortgagor(s) further agrees that Mortgagee is not and will not be liable for any failure by me/us or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Mortgagee may enter upon the property to inspect the same or to perform any acts authorized herein or in the credit agreement(s). 4. In the event Mortgagor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as provided herein or in the credit agreement(s), Mortgagee, at its option, may make such payments or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the note(s) or credit agreement(s)from the date of payment until paid. The advancement by Mortgagee of any such amounts will in no manner limit the right of Mortgagee to declare Mortgagor(s) in default or exercise any of Mortgagee's other rights and remedies. 5. In the event Mortga.gee is a party to any litigation affecting the property or the lien of this mortgage, including any action by Mortgagee to enforce this mortgage or any suit in which Mortgagee is named a defendant (including condemnation and bankruptcy proceedings) Mortgagee may incur expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, appraisal fees, and other charges and any amounts so advanced will become part of the principal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the note(s) or credit agreement(s) from the date of advance until paid. 6. Any awards made to Mortgagor(s) or their successors by the exercise of eminent domain are hereby assigned to Mortgagee; and Mortgagee is hereby authorized to collect and apply the same in payment of any indebtedness, matured or unmatured, secured by this mortgage. 7. In the event of default in the payment when due of any sums secured hereby (principal, interest, advancements, or protective advances), or failure to perform or observe any covenants and conditions contained herein, in the note(s), credit agreement(s), or other instrument(s), or any proceeding is brought under any Bankruptcy laws, Mortgagee, at its option, may declare the entire indebtedness secured hereby to be immediately due and payable and the whole will bear interest at the default rate as provided in the note(s) or credit agreement(s) and Mortgagee may immediately foreclose this mortgage or pursue any other remedy at law or equity, including foreclosure by advertisement with a power of sale in Mortgagee to the extent provided by applicable law. Delay by Mortgagee in exercising its rights upon default will not be construed as a waiver thereof and any act of Mortgagee waiving any specific default will not be construed as a waiver of any future default. If the proceeds under such sale or foreclosure are insufficient to pay the total indebtedness secured hereby, Mortgagor(s) does hereby agree to be personally-bound to pay the unpaid balance, and Mortgagee will be entitled to a deficiency judgment. 8. Upon default, Mortgagee will at once become entitled to exclusive possession, use, and enjoyment of the property and to all rents, issues, crops, profits, and income thereof, from the time of such default and during the pendency of foreclosure proceedings and the period of redemption, the delivery of which may be enforced by Mortgagee by any appropriate suit, action, or proceedirig. Mortgagee will be entitled to a Receiver for the property and all rents, issues, crops, profits, and income thereof, without regard to the value of the property, or the sufficiency thereof to discharge the mortgage debt and the foreclosure costs, fees, and expenses. Such Receiver may be appointed by any court of competent jurisdiction upon ex parte application, notice being hereby expressly waived. The Receiver will apply all rents, issues, crops, pr,ofits, and income of the property to keep the same in good repair and condition, pay all taxes, rents, fees, charges, and assessments, pay insurance premiums necessary to keep the property insured, pay the expense of the receivership and attorney fees incurred by the Receiver, and apply the net proceeds to the payment of the indebtedness secured hereby. Such Receiver will have all the other usual powers of receivers authorized by law and as the court may direct. App #: 35846; CIF #: 86613; Note #: 201 FORM 5014, Real Estate Mortgage 401TA Legal Doc. Date: January 20, 2006 Page 2 .::::!:::::J:::::::~:;:. f'II~~~:~::: ~.,~ ': ~~~j " imA~:i:~~¡~~~Z'~~~ :¡;:!~:;~:~':~;~ÞJm!~ ¡~::i:t!i:j:r~r:, ~::;~;!;:r~~~;~;;:~ ~b;~:~~:~;~~~ ¢~~~i\J,~~~~î!4;:~~;!: 09jJ..5405 C00312 9. The integrity and responsibility of the Mortgagor(s) constitutes a part of the consideration for the obligations secured hereby. Should Mortgagor(s) sell, transfer, or convey the property described herein without prior written consent of Mortgagee, Mortgagee, at its option, may declare the entire indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default. 10. Assignment of Rents including Proceeds of Mineral leases. Mortgagor(s) hereby assigns, transfers, and conveys to Mortgagee all rents, royalties, bonuses, and delay moneys or other proceeds that may from time to time become due and payable under any real estate lease or under any oil, gas, gravel, rock, or other mineral lease of any kind including geothermal resources now existing or that may hereafter come into existence, covering the property or any part thereof. All such sums so received by Mortgagee will be applied to the indebtedness secured hereby; or Mortgagee, at its option, may turn over and deliver to Mortgagor(s) or their successors in interest, any or all of such sums without prejudice to any of Mortgagee's rights to take and retain future sums, and without prejudice to any of its other rights under this mortgage. This assignment will be construed to be a provision for the payment or reduction of the mortgage debt, subject to the Mortgagee's option as hereinbefore provided, independent of the mortgage lien on the property. Upon payment in full of the mortgage debt and the release of this mortgage of record, this assignment will become inoperative and of no further force and effect. 11. This Mortgage constitutes a Security Agreement with respect to all the property described herein. 12. The covenants contained in this mortgage will be deemed to be severable; in the event that any portion of this mortgage is determined to be void or unenforceable, that determination will not affect the validity of the remaining portions of the mortgage. ~~ t..t,AU -:}'Mrv~~/Yc/ Eileen F Jackson INDIVIDUAL BORROWER ACKNOWLEDGMENT STATE OF _W~.{)M¡~ ~ss COUNTY OF L ÎV\ GD I tI\ ) On this Z12t!1 day of StíJw..u,~ ,Z{)()/ before me, a Notary Public, personally appeared Cole W Jackson and Eileen F Jackson, husband and wife to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed. (Type name under signature) My commission expires ðc-/o ~ /5': "bOOb Notary Public in and for said County and State . (SEAL) ':~~#:'':..'~ . ßIiAIj W. WIlLJORO - NOTARY PUBLIC . COUNTY Of STATE OF UNCPLN WYOMING My Commission ExpiresOcl15, 2006 App #: 35846; CIF #: 86613; Note #: 201 FORM 5014, Real Estate Mortgage 401TA Legal Doc. Date: January 20, 2006 Page 3 \. iIìh~; ),....~;,