HomeMy WebLinkAbout918087
l."!f.:;:;.''I;.'*''....:~J'~2·,:.'--~:'''-.s,~~·:!':o,p....~_ä.I¡,!j.W6~~~~.mr:u."3~~~;:'4.~: _j:,'.J,':.:'::~:t'~~,,¿1~5...~~!.Mk".Jt~¡]:;\·t'!';-,'¡.···..:.¡.'ur-,rr.2;;,:.:il;-r·;~u¡I3-__¡;,.""Þ~HI.'fi'~,.·.¡~,',::';J.i\!;I¡¡'!i'l:",~;.:wt~,iY~.i.1I!h"{:;,~~:'..~...;j."';i,.~1;!'¡.,j:.~~.2:(mJ~..-.~,..;.:);.::.
.',
',,::,
.<'V;'
60235
\.
000001
1'" aq
l!./1.fCV
WHEN RECORDED, MAIL TO:
Mountain West Small Business Finance
2595 East 3300 South
Salt Lake City, Utah 84109
RECEIVED 5/5/2006 at 2:07 PM
RECEIVING # 918087
BOOK: 619 PAGE: 1
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
MORTGAGE
(Participation)
FIXTURE FILING
AND
ASSIGNMENT OF RENTS
This mortgage made and entered into March 23,2006, by and between Kenneth L. Cram and April Cram,
husband and wife, as tenants by the entireties (hereinafter referred to as mortgagor) of PO Box 889, Thayne,
Wyoming 83127 and Mountain West Small Business Finance which maintains an office and place of business at
2595 East 3300 South, Salt Lake City, Utah 84109 (hereinafter referred to as mortgagee).
WITNESSETH, that for the consideration hereinafter stated, receipt of which is hereby acknowledged, the
mortgagor does hereby mortgage, sell, grant, assign, and convey unto the mortgagee, his successors and assigns,
all of the following described property situated and being in the County of Lincoln, State of WYOMING and located
at 128 South Main Thayne, Wyoming 83127.
SEE ATTACHED EXHffiIT "A"
Together with and including all buildings, all fixtures including but not limited to all plumbing, heating, lighting,
ventilating, refrigerating, incinerating, air conditioning apparatus, and elevators (the mortgagor hereby declaring that
it is intended that the items herein enumerated shall be deemed to have been permanently installed as part of the
realty), and all improvements now or hereafter existing thereon; the hereditament and appurtenances and all other
rights thereunto belonging, or in anywise appertaining, and the reversion and reversions, remainder and remainders,
all rights of redemption, and the rents, issues, and profits of the above described property (provided, however, that
the mortgagor shall be entitled to the possession of said property and to collect and retain the rents, issues, and
profits until default hereunder). To have and to hold the same unto the mortgagee and the successors in interest of
the mortgagee forever in fee simple or such other estate, if any, as is stated herein.
The mortgagor covenants that he is lawfully seized and possessed of and has the right to sell and convey
~l:~~1:;¡::::::::!f:~ .
Iv.,,~I ';·~!¿1
~f~f~m~*m;¡~~~~~~i
~!~~~II
. . ·:CI.:t""':CJ:""~ ~;. .'I: ,~'''~, ';.: 1:"\' ""'. ·.·.·~..,~D:·,:,~ 'I:'.,' .,_ ...;.. '~~', "..:....:.;.,~,,!:i.!.....'~~.
'. .,........~..........,...,
-:">'c\"_Þl<':~f j. "~'.J!.':: ·'~'!··V.'ì"L;')io'i;t; ,~1_i ';.;-. -.i -, ".- .' ".'~" -, ""..' >~.:f~.:µ_~:"'"'~''''' '.T·i;'::'~·~- ~':. ;.¡::- ·,~l''';''-;;;ò;:;' '. .
f".
091.8087
C00002
said property; that the same is free from all encumbrances except as hereinabove recited; and that he hereby binds
himself and his successors in interest to warrant and defend the title aforesaid thereto and every part thereof against
the claims of all persons whomsoever.
This instrument is given to secure the payment of a promissory note dated March 23, 2006 in the principal
sum of $522,000.00 signed by Kenneth L. Cram and April Cram in behalf of Kenneth L. Cram and April Cram .
Said promissory note was given to secure a loan in which the Small Business Administration, an agency of
the United States of America, has participated. In compliance with section 101.1 (d) of the Rules and Regulations of
the Small Business Administration [13 C.F.R. 101. I (d)] , this instrument is to be construed and enforced in
accordance with applicable Federal law .
1. The mortgagor covenants and agrees as follows:
a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in
the manner therein provided.
b. He will pay all taxes, assessments, water rates, and other governmental or municipal charges,
fmes or impositions, for which provision has not been made hereinbefore, and will promptly deliver the official
receipts therefor to the said mortgagee.
c. He will pay such expenses and fees as may be incurred in the protection and maintenance of
\
said property, including the fees of any attorney employed by the mortgagee for the collection of any or all of the
indebtedness hereby secured, or foreclosure by mortgagee's sale, or court proceedings, or in any other litigation or
proceeding affecting said property. Attorneys' fees reasonably incurred in any other way shall be paid by the
mortgagor.
d. For better security of the indebtedness hereby secured, upon the request of the mortgagee, its
successors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any additions,
improvements, or betterment made to the property hereinabove described and all property acquired by it after the
date hereof (all in form satisfactory to mortgagee). Furthermore, should mortgagor fail to cure any default in the
payment of a prior or inferior encumbrance on the property described by this instrument, mortgagor hereby agrees
to permit mortgagee to cure such default, but mortgagee is not obligated to do so; and such advances shall become
part of the indebtedness secured by this instrument, subject to the same terms and conditions.
e. The rights created by this conveyance shall remain in full force and effect during any
",,!:.:.:'-~I:t:':A;~;'¡"'·. io"¡": '·-"....,~·,_·,''J''''.,..·',ï ,.,~:.!,;,.¡'. .....:: :'~':', T"'::',',~ '"":,:"';~~',,,"
. ...·.·r'...-.=.~.:f':I;n·'-:...,
.' '·:-'''''·I~i!i''~~...-,¡"i..:.o~...·...~~~·t~'i..~'i.·'''' '~~~: '. ;:-....;
,'. ._·c..t,. '.',..' - 'j'_ "-,' :'.'1" '. ~:':.'.' ',.,';',","',0:",' .
0918087
C00003
postponement or extension of the time of the payment of the indebtedness evidenced by said promissory note or any
part thereof secured hereby.
f. He will continuously maintain hazard insurance, of such type or types and in such amounts as
the mortgagee may from time to time require on the improvements now or hereafter on said property, and will pay
promptly when due and premiums thereof. All insurance shall be carried in companies acceptable to mortgagee, and
the policies and renewals thereof shall be held by mortgag.ee and have attached thereto loss payable clauses in favor
of and in form acceptable to the mortgagee. In event of loss, mortgagor will give immediate notice in writing to
mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance company
concerned is hereby authorized and directed to make payment for such loss directly to mortgagee instead of to
mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at
its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property
damaged or destroyed. In event of foreclosure of this mortgage, or other transfer of title to said property in
extinguishment of the indebtedness secured hereby, all· right, title, and interest of the mörtgagor in an to any
insurance policies then in force shall pass to the purchaser or mortgagee or, at the option of the mortgagee, may be
surrendered for a refund.
g. He will keep all buildings and other improvements on said property in good repair and
condition; will permit, commit or suffer no waste, impairment, deterioration of said property or any part thereof;
in the event of failure of the mortgagor to keep the buildings on said premises and those erected on said premises,
or improvements thereon, in good repair, the mortgagee may make such repairs as in its discretion it may deem
necessary for the proper preservation thereof; and the full amount of each and every such payment shall be
immediately due and payable; and shall be secured by the lien of this mortgage.
h. He will not voluntarily create or permit to be created against the property subject to this
mortgage any lien or liens inferior or superior to the lien of the mortgage without the written consent of the
mortgagee; and further, that he will keep and maintain the same free from the claim of all persons supplying labor
or materials for construction of any and all buildings or improvements now being erected or to be erected on said
premises.
i. He will not rent or assign any part of the rent of said mortgaged property or demolish, or
remove, or substantially alter any building without the written consent of the mortgagee.
j. All awards of damages in connection with any condemnation for public use of or injury to any
of the property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may apply the same
to payment of the installments last due under said note, and mortgagee is hereby authorized, in the name of the
~~::::I~::::::::::::;~
·;·: : t':t::~1:~~:::;
~~Wf~m~ill¡tl
~::::::i:~
::;:;~it:ii:~~::;:;
. '.',. ",·¿.~:~·,f""¡"·I"',,' ;'i!'·".'''. ::::~_. ,~:. 'J·;'~":!.:"',~/,1.i':.l."'-:·.:.: :.
'r1J<:"<""!:~""':'-
- .',.,',.: 'c·,·..·.....-.·...·.·.'!'",·::..·'.
. '" ...' .- .¡.¡t¡,,¡.,. ~":'i('I," ,. :,~~..;~,_. 'I':~I ,," . : .;;;!., '" I',,' . .. ,,-,. -"' , .- ',' ;'.' ,.' , _ 'õ ';....~, ._.,.,. '.,,:.- . ,"'.
.'. . ...¡~.;...'...:.,...
09~l8087
000004
mortgagor, to execute and deliver valid acquittance thereÇ>f and to appeal from any such award.
k. The mortgagee shall have the right to inspect the mortgaged premises at any reasonable time.
2. Default in any of the covenants or conditions of the instrument or of the note or loan agreement secured
hereby shall terminate the mortgagor's right to possession use, and enjoyment, of the property, at his option of the
mortgagee or his assigns (it being agreed that the mortgagor shall have such right until default). Upon any such
default, the mortgagee shall become the owner of all of the rents and profits accruing after default as security for .
the indebtedness secured hereby, with the right to enter upon said property for the purpose of collection such rents
and profits. This instrument shall operate as an assignment of any rentals on said property to the extent.
3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or any part thereof
when due, or shall fail to perform any covenant or agreement for this instrument or the promissory note secured
hereby, the entire indebtedness hereby secured and the mortgagee or his assigns may before or after entry sell said
property without appraisement (the mortgagor having waived and assigned to the mortgagee all right of
appraisement) :
(I) at judicial sale pursuant to the 28 U.S.C. 2001 (a);or
(II) at the option of the mortgagee, either by auction or by solicitation of sealed bids, for the
highest and best bid complying with the terms of sale and manner of payment specified in the published notice of
sale, fIrst giving four weeks' notice of the time, terms, and place of such sale, by advertisement not less than once
during each of said four weeks in a newspaper published or distribute in the county in which said property is situated,
all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on behalf of said
mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be held at or on the
property to be sold or at the Federal, county, or city courthouse for the county, or city courthouse for the county
in which thè property is located. The mortgagee is hereby authorized to execute for and on behalf of the mortgagor
and to deliver to the purchaser at such sale a sufficient conveyance of said property, which conveyance shall contain
recitals as to the happening of the default upon which the execution of the power of sale herein granted depends; and
the said mortgagor hereby constitutes and appoints the mortgagee or any agent or attorney of the mortgagee, the
agent and attorney in fact of said mortgagor to make such recitals· and to execute said conveyance and hereby
covenants and agrees that the recitals so made shall be effectual to bar all equity or right of redemption, homestead,
dower, and all other exemptions of the mortgagor, all of which are hereby expressly waived and conveyed to the
mortgagee; or
(III) take any other appropriate action pursuant to state or Federal statue either in state or Federal
/
·:·~·";·"'·I!,·...T ·.-_.
; ,'.·,_._õ.,,·,.;.......,.,.,_ , .'
091.8087
/..... n n ') (" 5
I.: C, lJ t I
court or otherwise for the disposition of the property.
In the event of a sale as hereinbefore provided, the mortgagor or any persons in possession under the
mortgagor shall then become and be tenants holding over and shall forthwith deliver possession
to the purchaser at such sale or be summarily dispossessed, in accordance with the provisions of law applicable to
tenants holding over. The power and agency hereby granted are coupled within interest and are irrevocable by death
or otherwise, and are granted as cumulative to the remedies for collection of said indebtedness provided by law.
4. The proceeds of any sale of said property in accordance with the preceding paragraphs shall be applied
first to pay the costs and expenses of said sale, the expenses incurred by the mortgagee for the purpose of protecting
or maintaining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereby; and
thirdly, to pay any surplus or excess to the person or persons legally entitled thereto.
5. In the event said property is sold at a judicial foreclosure sale or pursuant to the power of sale
hereinabove granted, the proceeds are not sufficient to pay the total indebtedness secured by this instrument and
evidenced by said promissory note, the mortgagee will be entitled to a deficiency judgment for the amount of the
deficiency with out regard to appraisement.
6. In the event the mortgagor fails to pay any Federal, state, or local tax assessment, income taw or other
taw lien, charge,. gee, or other expense charged against the property the mortgagee is hereby authorized at his option
to pay the same. Any sums so paid by the mortgagee shall be added to and become a part of the principal amount
of the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes and
liens and the costs, fees, and expenses of making, enforcing, and executing this mortgage, then this mortgage shall
be canceled and surrendered.
7. The covenants herein contained shall bind and the benefits and advantages shall inure to the respective
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.
8. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
9. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or
unenforceable shall not in any way impair or preclude the enforcement of the remaining provisions or portions of
this instrument.
~~;~~;~¡~~m~~!~:~: :
. '.' ,":!:"::;'~ -.' ,-. '·ï!I,I·....~~~~ò~I·~I~\:cr...'CI~:..~ði-:.:;:~'\iji.."kXJ.;g§~¡~~'~·..!"¡;..:":"'.-~,':;.;>. ,",~;':. '."..r~·~~N.':!.~,'· .,'~- . '\'. . 'I"" ,',.¡' ',',·I.;·.·,......·'r.I~e,.I':J
, ::- .:.'>:'~;;~..,.&t.~.ifiM.,..~~'U;;ti..,J;¡,~~;c.~-:·ì'~~·~~... ::¡. '. ::: 'j, ,.- .,~,-,:fJ:'~!I!i¡'<!~:í..;~"'(¡,~.-'.."'~: ::. ~ .'f:';'; ¡!;.:,~~~.;r..:....~,..:.,.
091..8087
....."1 r '.) C 6
10. Any written notice to be issued to the mortgagor pursuant to the provisions of this instrument shall be
addressed to the mortgagor at PO Box 889, Thayne, Wyoming 83127 and any written notice to be issued to the
mortgagee shall be addressed to the mortgagee at 2595 East 3300 South, Salt Lake City, Utah 84109.
11. The Loan secured by this lien was made under a United States Small Business Administration (SBA)
nationwide program which uses tax dollars to assist small business owners. If the United States is seeking to enforce
this document, then under SBA regulations:
a) When SBA is the holder of the Note, this document and all documents evidencing or securing
this Loan will be construed in accordance with federal law .
b) CDC or SBA may use local or state procedures for purposes such as fùing papers, recording
documents, giving notice, foreclosing liens, and other purposes. By using these procedures, SBA does not waive any
federal immunity from local or state control, penalty, tax or liability. No borrower or Guarantor may claim or assert
against SBA any local or state law to deny any obligation of Borrower, or defeat any claim of SBA with respect to
this Loan.
Any clause in this document requiring arbitration is not enforceable when SBA is the holder of the
Note secured by this instrument.
12. The undersigned hereby releases and waives all rights under and by virtue of the homestead exemption
laws of the State of Wyoming.
In witness whereof, the mortgagor has executed this instrument and the mortgagee has accepted delivery
of the instrument as of the date and year aforesaid.
/~ L - ~
(
Kenneth L. Cram
~~
April Cram
, ,:.'.;.:1:.:1:.:-.-;1:.;·;<;,1..)'.·.·,·,·,-, ""';'.c.,o¡:;,,..",..'JtlSoJ... ~.:.¡_,':' ,;:.''''>'' ",
091.8087
STATE OF WYOMING
COUNTY OF Lincoln
';'... '.::!'";.....,,¡t".'~,,:; .
'.",:õ-.:';, ,;I ,,1_", t;.õcc.;a:r...;...,.,.,'.
. '..,>,....:-: rM;".'~,~,,/...··,·'.>.;·..'fI'"~~¡:....;':·;I~;"¡':+.·_ "."-'~~' ,.: ' ."""'". ·'~'.W.!J'..~.~j ',;..,-,}'.';",'>:". .' ....',',.; ",;,.:.,·;t.':a-'O.~ô"·,;.'..
MORTGAGE NOTARY PAGE
)
:ss.
)
('(' O"'F~
'.' l,t U 0 (
The foregoing instrument was acknowledged before me this March 23, 2006 by Kenneth L. Cram
and April Cram.
SALLY L. MARTIN Notary Public
County of State of
Lincoln Wyoming
My Co~n Expires September 13, 2006
~" "" .,.~
~ .. 1,'" :', " <.' :,'~._.,
~~:;i: :'\ j
NO::¥ 1If~
:~~:~::~iliili~t;i;
:;:~*f:::~~:::~::~
'::;~:::~:m:1:::~_:;
. .'. :.:t:4:¡: ¡;:.,,;. ~ ':1, - . .-;: . ", ~ .' !"_~,,
-,.
.,' ·<·I·.·.·I!I·.·,· · .·.·.~...
, ,'.'...:-:/.,;:1+;-'/:;:.'" ',\.¡-;,,"¡;J.'.C;;". "'.,~'-'
¡ 'CJ· n~;;IY,:-¡: ':. .;}¡;~:~; ;':, .r..!-:,~;,..:I :.., ·';;;'i';!Þ;'i~I' :~ 'j "
091.8087
~h~'Di+- A
r (ì 0 .~ '.. 8
.'\) Ul.,
De'scription: Parcel A Amended
A portion ofthe properti~s as referred to in ,t~e Deed recorde.d in BDok 45BPR, Dn
Page 316 and in BDok 447PR, on Page 314,-with the OfficE: ofthe Cleric of
Un coin County, Wyoming. within the SE1J4 of Section 231 T34N, R11 9W. of the
61h P.M., Th~yne, Lincoln County, Wyoming, the metes and' bounds being more
particularly described as follows:
BEGINNING at 'ån.~tuminum Cap on Iron Pipe marking a point In:the Ea.st Right-
of-Way line of U,S. Highway 89, said Point of Beginning being 1,6S2.43 feet
N2DD20'ZT'E, from the B.L.M, type Monum~rit marking the Paul N. S~herbel RLS
1641 1986 location for the Southwest Corner of said SE1/4, also snid PoiPJi.of
Beginning being, 2.609.98 feet N52D25'3B"W~ from the B.LM. type Monument
marking the Paul N~ Scherbel RLS 164. 1976 location for the Soutl \east Comer
of said SE1/4; th~nc:e N23°'5B'43'W, along said East Right-of-Way Line, 147-48
feet to an Aluminum Cap on Iron Pipe marking thé Southwest com'?r of the
Thayne Village Center; thence N85I>01145"E. along the South Line ·Jf said Thayne
Village Center, 313.51 feet to an Iron Pipe marking a Northwest corner of Tra-ct
NO.2 - Dana Land's. of the Star Valley Cheese Corporation, proþer.y as referred
to in the Deed recorded in Book 337PR. on Page 661, with said Oft ice; thence
SDo28'04J1W along a west line of said Tract No.2, 113.05 feet to ar¡ Aluminum
Cap on Iron Pipe; thet1ce S79°00'D5I,W 256.18 feet to the Point
of Beginning .
Description: Parcel B Amended
A portion of the properties as referred to in the Deed recorded in Book 458PR, on
Page 316, and in Book 447P-R, on Page 314, with the Office of the Clerk of
Lincoln County, Wyoming, within the SE.1/4 of Section 23, T34N" R 1 i gW"
of the 6th P.M:, Thayne, Lincoln County, Wyoming. the metes al}d bounds being
more particularly described as.follows:
BEGINNING at an Aluminum Cap on Iron Pipe marking a point in the East Right-
of-Way line of U.S. Highway 89. said Point of Beginning being 1,652.43 feet
N20D20'27"E, from the B.LM. type Monument marking the Paul N, Scherbel RLS
164 1986 location for the Southwest Comer of said SE1/4,also said Point of
' ,
Beginning being, 2,609.98 feet N52°25'38'W, from the B.LM. type Monument
marking the Paul N: Scherbel RLS 164,.1976 location for the Southeast Corner
of the SE1/4; thence N79°00'OS"E, 256.18 feet to an Aluminum Cap on Iron P.ipe
marking a point in a west line of Tract NO.2 - Dana Lands, of the Star Valley
Cheese Corporation property as referred to in the Deed recorded in Book 337PR
on Page 661, with said Office; thence SQo28'Q4'W, along said West line, 185.57
feet to an Iron Pipe, marking a comer or said Tract No.2; thence N89C>24'52'W.
along a line of said Tract No, 2, 190.03 feet to an Iron Pipe marking a point in
said East Right-of-Way line; thence N23°5B'43"W, along said East Right-of-Way,
147.48 feet to the Point of Beginning,