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HomeMy WebLinkAbout916347 RECEIVED 3/1/2006 at 10:23 AM RECEIVING # 916347 BOOK: 613 PAGE: 432 JEANNE WAGNER , LINCOLN COUNTY CLERK, KEMMERER, wY MORTGAGE ~. OC432 ~ This Mortgage is made the 2l~y of February, 2006, by and between Steve Chichinsky and Carol Chichinsky, husband and wife, hereinafter referred to as the "Mortgagor", and Tammy J. Clark., hereinafter referred to as "Mortgagee". The Mortgagor, for and in consideration of Two Hundred Twenty Five Thousand Dollars ($225,000.00) lawful money of the United States and other valuable consideration, loaned to the Mortgagor by the Mortgagee, the receipt of which is hereby confessed and acknowledged, does hereby mortgage to the Mortgagee, the following described real property situate in the County of Lincoln, State of Wyoming: Lot28 River View Meadows Addition to the Town of Alpine within the SEl/4 of Section 30, T37N, R118W, according to that plat filed July 2, 1993 as Instrument No. 76716. ¿"Î/ Together with all buildings and improvements thereon, or which may hereafter be placed thereon; all fixtures now or hereafter attached to said premises; and all easements, appurtenances and incidents now or hereafter belonging or appertaining there to; subject, however, to all covenants, conditions, easements, and rights-of-way, and to mineral, mining and other exceptions, reservations and conditions of record. TO HAVE AND TO HOLD the said real and personal property forever, the Mortgagor hereby relinquishing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. Mortgagor covenants that at the signing and delivery of this Mortgage, said Mortgagor is lawfully possessed of said personal property; is lawfully seized in fee simple of said real property, or has such other estate as is stated herein; has good and lawful right to mortgage, sell and convey all of said property; and warrants and will defend the title to all of said property against all lawful claims and demands, and that the sameîs free from all encumbrances. However, this Mortgage is subject to the express condition that if the Mortgagor pays, or causes to be paid, to the Mortgagee that amount due and owing under that Promissory Note (note), which note was executed and delivered by the Mortgagor to the Mortgagee, which sum or sums of money the Mortgagor hereby covenants to pay, and until such payment, performs all of the covenants and agreements herein to be performed by Mortgagor, then this Mortgage and said note shall cease and be null and void. Mortgagor and Mortgagee further covenant and agree as follows: 1. Payment. Mortgagor shall pay the indebtedness as herein provided, and the lien of this instrument shall remaIn in full force and effect during any 1 ;:¡:;¡i:!::!:~~i::::~ l~f..~~;.'~J ~!r~}TIt~~mf¡~ . ,'. .'~ 16' ./.I ~¡:;*:::¡!t:~~::'.1 .~, :;. .~.~,~(t.:'~~'~1 ~ .:, ._:'·;:Þ!~';~~~:!·l ~··!.··+ç:f~~~,;{\~~ ;_"-~: ,,-~:¡!:!'/.I..£tt~w 0916347 000433 postponement or extension of time of payment of any part of the indebtedness secured ~ hereby. All payments shall be made through .Hickman Land Title Company l10', Box ~Jí¡ 386, Logan, UT 84321 ~0C. ~/¿, 2. Prepayments. Mortgagor shall have the privilege of paying any principal sum or sums plus accrued interest, in addition to the payments herein required, at any time without premium or penalty of any kind, and it is understood and agreed that any such prepayment shall be credited first to interest and the balance to principal in the inverse order of when due. 3. Transfer of the Property. If all or any part of the property or any interest herein is sold or transferred by any means by Mortgagor without Mortgagee's prior written consent, excluding the creation of a lien or encumbrance subordinate to this Mortgage or a transfer by devise, descent or by operation of law upon the death of a joint tenant, Mortgagee may, at Mortgagee's option, declare all the sums secured by this Mortgage to be immediately due and payable. Any delay or failure on the part of the Mortgagee to demand payment shall not prejudice the Mortgagee's right there to. Mortgagee shall have waived such option to accelerate if, prior to the sale or transfer, Mortgagee at Mortgagee's sole discretion, enters into a written agreement with the person whom the property is to be sold or transferred expressly consenting to such assumption and setting forth any new terms or conditions of this Mortgage as may be requested by the Mortgagee in exchange for the Mortgagee agreeing to an assumption of this Mortgage. 4. Taxes and Assessments. Mortgagor shall pay all taxes and assessments levied or assessed against said property. 5. Maintenance of Property. Mortgagor shall not commit or permit waste, nor be negligent in the care of said property, and shall maintain the same in as good condition as at present, reasonable wear and tear excepted, and will do nothing on or in connection with said property which may impair the security of the Mortgagée hereunder. Mortgagor shall not permit said property, or any part hereof, to be levied upon or attached in any legal or equitable proceeding, and shall not, except with the consent in writing of the Mortgagee, or as is otherwise provided and permitted in this Mortgage, remove or attempt to remove said improvements or personal property, or any part hereof, from the premises on which the same are situated. 6. Construction. In the event Mortgagor commences construction on the property without the written consent of Mortgagee, Mortgagee may, at Mortgagee's option, declare all the sums secured by this Mortgage to be immediately due and payable. Under no circumstances shall Mortgagee be required to subordinate 2 '/ 091J)~~4 7 (OC434 this Mortgage. 7. Mortgagee Authorized to Make Payments. If Mortgagor defaults in the payment of the taxes, assessments or other lawful charges, Mortgagee may, without notice or demand, pay the same, and if the Mortgagor fails to keep said property in good repair, the Mortgagee may make such repairs as may be necessary to protect the property, all at the expense of the Mortgagor. The Mortgagor covenants and agrees that all such sums of money so expended, together with all costs of enforcement or foreclosure, and a reasonable attorney fee, shall be added to the debt hereby secured, and agrees to repay the same and all expenses so incurred by the Mortgagee, with interest thereon from the date of payment at the same rate as provided în the note hereby secured, until repaid, and the same shall be a lien on all of said property and be secured by this Mortgage. 8. Default. If the Mortgagor defaults in the payment of the indebtedness hereby secured, for a period of twenty (20) days after written notice, or fails to keep the improvements on said premises insured as herein provided, or in case of breach of any covenant or agreement herein contained, the whole of the then indebtedness secured hereby, both principal and interest, together with all other sums payable pursuant to the provisions hereof, shall, at the option of the Mortgagee, become immediately due and payable, anything herein or in said note to the contrary notwithstanding, and failure to exercise said option shall not constitute a waiver of the right to exercise the same in the event of any subsequent default. The Mortgagee may enforce the provisions of, or foreclose, this Mortgage by any appropriate suit, action or proceeding at law or in equity, and cause to be executed and delivered to the purchaser or purchasers at any foreclosure sale a proper deed of conveyance of the property so sold. The Mortgagor hereby grants the Mortgagee the power to foreclose by advertisement and sale as provided by statute. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity and may be exercised concurrently, independently or successively. The Mortgagor agrees to pay all costs of enforcement or foreclosure, including a reasonable attorney fee. The failure of the Mortgagee to foreclose promptly upon a default shall not prejudice any right of said Mortgagee to foreclose thereafter during the continuance of such default or right to foreclose in case of further default or defaults. The net proceeds from such sale shall be applied to the payment of: first, the costs and expenses of the foreclosure and sale, including a reasonable attorney fee, and all moneys expended or advanced by the Mortgagee pursuant to the provisions of this Mortgage; second, all unpaid taxes, assessments, claims and liens on said property, 3 r;::;:::::~::::::::::::: 18~~:~i~~:~:~:; ::¡::¡~1~~B~~';¡:¡~t ¡t~:;:~:1t11~mUm> ;:::*i::~:~::::~ :::::~::~:::;~l:::¡!::~ :;'~;j~~1i;~l}j.ll" !::'~¡¡ J.~;,"·\·¡¡,~¡tit .'i't~ j~;~~;~~1!~11~~*:1f. O~1,.6347 000435 which are superior to the lien hereof; third, the balance due Mortgagee on account of principal and interest on the indebtedness hereby secured; and the surplus, if any, shall be paid to the Mortgagor. 9. Sufficiency of Foreclosure Proceeds. If the property described herein is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness hereby secured, the Mortgagor executing the note or notes for which this Mortgage is security shall be personally bound to pay the unpaid balance, and the Mortgagee shall be entitled to a deficiency judgment. 10. Assignment of Rents. If the right of foreclosure accrues as a result of any default hereunder, the Mortgagee shall at once become entitled to exclusive possession, use and enjoyment of all property aforesaid, and to all rents, issues and profits thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period of redemption, and such possession, tents, issues and profits shall be delivered immediately to the Mortgagee on request. On refusal, the delivery of such possession, rents, issues and profits may be enforced by the Mortgagee by any appropriate suit, action or proceeding. Mortgagee shall be entitled to a Receiver for said property and all rents, issues and profits thereof, after any such default, including the time covered by foreclosure proceedings and 'the period of redemption, and without regard to the solvency or insolvency of the Mortgagor, or the then owner of said property, and without regard to the value of said property, or the sufficiency thereof to discharge the Mortgage debt and foreclosure costs, fees and expense. Such Receiver may be appointed by any court of competent jurisdiction upon ex parte application, notice being hereby expressly waived, and the appointment of any such Receiver on any such application without notice is hereby consented to by the Mortgagor. All rents, issues and profits, income and revenue of said property shall be applied by such Receiver according to law and the orders and directions of the court. 11. Inspection. Mortgagee may make or cause to be made reasonable entries upon and inspections of the property, provided that Mortgagee shall give Mortgagor notice prior to any such inspection specifying reasonable cause therefor related to Mortgagee's interest in the property. 12. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the property, or part hereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Mortgagee. In the event of a total taking of the property, the proceeds shall be applied to the sums secured by this Mortgage with the excess, if any, paid to Mortgagor. In the event of a partial taking of the property, unless 4 091.6347 C00436 Mortgagor and Mortgagee otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the property immediately prior to the date of taking, with the balance of the proceeds paid to Mortgagor. If the property is abandoned by Mortgagor, or if, after notice by Mortgagee to Mortgagor that the condemnor offers to make an award or settle a claim for damages, Mortgagor fails to respond to Mortgagee within 30 days after the date such notice is mailed, Mortgagee is authorized to collect and apply the proceeds, at Mortgagee's option, either to restoration or repair of the property or to reduce the sums secured by this Mortgage. Unless Mortgagee and Mortgagor otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to above or change the amount of such installments. 13. Statement. That the, Mortgagee, within ten (10) days upon request in person or within thirty (30) days upon request by mail, will furnish a written statement duly acknowledged of the amount due on this Mortgage and whether any offsets or defenses exist against the mortgage debt. 14. Notices. All notices, demands or other wri ting In this Mortgage provided to be given, made or sent by either party to the other shall be in writing and shall be validly given or made only if personally delivered with a receipt obtained from the person receiving the notice, or sent by certified United States mail return receipt requested, or if sent by Federal Express or other similar delivery service keeping records of deliveries and attempted deliveries. Service shall be conclusively deemed made upon receipt if personally delivered or, if delivered by mail or delivery service, on the first business day delivery is attempted or upon receipt, whichever is sooner. The parties mailing addresses are as follows: Mortgagor: Steve and Carol Chichinsky P. O. Box 3827 Jackson, WY 83001 733-0785 Mortgagee: Tammy J. Clark 7860 Cowboy Way Jackson, WY 83001 413-0751 16. Headings. The headings used in this Mortgage are for convenience only and are not to be used in its construction. 17. Binding Effect and Construction. The covenants herein contained shall 5 ~~;~iliŒlm 8~1i~*~~~;¡¡j 0916347 bind, and the benefìts and advantages shall inure to, the respective heirs, devisees, legatees, executors, administrators, successors and assigns of the parties hereto. Whenever used the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders. The term "note" includes all notes herein described if more than one. The terms "foreclosures" and "foreclose" as used herein, C00437 shall include the right of foreclosure by any suit, action or proceeding at law of in equity, or by advertisement and sale of said premises, or in any other manner now or hereafter provided by Wyoming statutes, including the power to sell. The acceptance of this mortgage and the note or notes it secures, by the Mortgagee shall be an V nC·C· O~ bY acceptance of the tenns and conditions contained therein. ~, ~Vrcr' 18; Release. Upon payment of all sums secured by this Mortgage, Hickman Land Title Company shall file a Release Of Mortgage signed by Mortgagee and held in escrow, all without charge to Mortgagor, although Mortgagor shall pay all costs of recordation, if any. 19. Waiver of Homestead. Mortgagor hereby relinquishes and waives all rights under and by virtue of the homestead exemption laws of the State of Wyoming. IN WITNESS WHEREOF, the said Mortgagor has hereunto signed and sealed these presents the day and year first~. ~ ~, e Crucruns y ~~ Carol Cruchinsky STATE OF WYOMING \ COUNTY OF ~ ) ) ss. ) The foregoing instrument was acknowledged before me this d7Íl--J day of February, 2006 by Steve Cruchinsky and Carol Chichinsky. WITNESS my hand and official seal. _ N~~ uJ;:;- My Commission Expires: LOf 6( ?-DO 7 6 ..