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C00272
MORTGAGE
This Mortgage is made the 4 day of April, 2006, by and between Nancy Kriz
and Susan Kriz hereinafter referred to as the "Mortgagor", and Alpine Properties II,
LLC, a Wyoming limited liability company, hereinafter referred to as "Mortgagee".
The Mortgagor, for and in consideration of the sum of Four Hundred Eighty
Thousand Dollars ($480,000.00) 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 forever, the
following described NON-AGRICULTURAL real property situate in the County of
Lincoln, State of Wyoming:
See Exhibit A attached hereto.
Together with all buildings and improvements thereon, or which may hereafter
be placed thereon; all fixtures now or hereafter attached to said premises; all water and
water rights, ditches and ditch rights, reservoirs and reservoir rights, and irrigation and
drainage rights; 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 other exceptions, reservations and conditions of
record.
TO HA VB 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 same is 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 the sum of Four Hundred Eighty Thousand
Dollars ($480,000.00), together with interest, until paid, according to the conditions of a
Promissory Note of even date herewith, which Promissory 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
RECEIVED 4/18/2006 at 3:32PM
1 RECEIVING # 917585
BOOK: 617 PAGE: 272
r,r,·m.'.':',·,',·" JEANNE WAGNER
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LINCOLN COUNTY CLERK, KEMME
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C00273
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
postponement or extension of time of payment of any part of the indebtedness secured
hereby.
2. Prepayments. The 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 ih 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 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 Mortgagee
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 Prohibited. Mortgagor agrees not to commence any
construction or make improvements on the property without Mortgagee's prior written
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consent.
7.
Mortgagee Authorized to Make Payments.
If Mortgagor defaults in
the payment of the taxes, assessments or other lawful charges, including any
construction loan payments or fails to keep the improvements on said premises insured
as herein provided, the 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 in 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 fifteen (15) 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
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Mortgage; second, all unpaid taxes, assessments, claims and liens on said property,
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, rents, 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. 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.
13.
Notices.
All notices, demands or other writing in this Mortgage
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provided to be given, made or sent by either party to the other shall be in writing and
shall be validly given or made oIÙY 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:
4110 Willow Green
San Antonio, TX 78217
Mortgagee:
5548 Falls Road
Dallas, TX 75220
14. Headings. The headings used in this Mortgage are for convenience OIÙy
and are not to be used in its construction.
15.
Binding Effect and Construction.
The covenants herein contained
shall bind, and the benefits 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, 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 acceptance
of the terms and conditions contained therein.
16.
Release.
Upon payment of all sums secured by this Mortgage,
Mortgagee shall release this Mortgage without charge to Mortgagor. Mortgagor shall
pay all costs of recordation, if any.
17.
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 above written.
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STATE OF j ~~
COUNTY OF ~CLY
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Nancy Kriz
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Susan Kriz Q
The foregoing instrument was acknowledged before me this~~a~ of April, 2006
by Nancy Kriz and Susan Kriz.
WITNESS my hand and official seal.
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Notary Public
My Commission Expires~~ ~ zao <...p
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TERILEE LAIABERT
Nota,.)' Public
Slam 01 Taxas
My Commission Expires
Juno 4, 2006
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Exhibit A
The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is
described as foHows:
Beginning at a point on the Southerly Right-Of-Way line of U.S. Highway No. 26, said point
being South 0°10' East along the Section Line 1320.76 feet to the Southeast Corner of the
Northeast Quarter of the Northeast Quarter of Section 19, Township 37 North, Range 118
West, Sixth Principal Meridian, Wyo., and North 89°58' West along the 40 acre line 94.09 feet
from the Northeast corner of said Section 19;
thence North 89°58' West along said 40 acre line 501.07 feet;
thence North 37°00' West 175.811 feet;
thence North 53°00' East 400 feet, to said Southerly Right-of-Way line;
thence South 37°00' East along said Southerly Right-of-Way line 477.595 feet to the point of
beginning.
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