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HomeMy WebLinkAbout918556 d~ ~ ~ 8~ ,~ft =0 -nu ¡¡.: ...... o.~ ·tf} ':::! "." -.~;.~ 1J ...>t'oo q ç;.....' ~) ~. '} ;;¡-'. '. ~ «). 4 .......t.. '}:!.' .É ~ ~ ~.:~ '"w'í> "" ,..(If - i;þ fJ ..,..,~':\r: ~~I ~.., ..~. ?-~" ,,:t:z. .'ÿ'~'. ~-; ~:~. a 000563 RECBVED 5/18/2006 at 3:4Z PM RECBVING'If:. 918556 BOOK: 620 PAGE 563 JEANNE WAGNER UNCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording: Data} (",~, . . MORTGAGE .J THIS MORTGAGE ("Security Instrument'') is given on Maýt5,2006. The mortgagor is ("Borrower') This Security Instrument is given to DickR. Luthi and Reba S. Lu~ husband and wife, and whose address is 1100 Stateline Road 12-114-, Freedom.- WY 83120 ("Lender''). . Borrower owes Lender the principal sum ofTñree Hundred Sixty One Thousand Four Hundred Thirty Four Dollars (U.S. $361,434), annuaL This debt is evidenced by Borrower's note dated the same date as this Security Instrument ('"Note''), which provides payments, with. the full debt,. if not paid earlier. due and payable 011 May 15, 20 1J. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph T to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. Forthis purpose, Borrower does hereby mortgage, grant and convey to Lender, with power of sale,. the following described property located irr Lincolrr County, Wyoming: which has the address of 1100 Stateline 12-114-, Freedom.- WY83120. TOUJ:ilH.ER wrrn all the improvements now or hereafter erected on the property, and all casements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to irr this Security Instrument as the 'Property." ( (/ì ) BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage. grant and convoy the Property and that the Property is unencumbered. except for encumbrances of record.. Borrower warrants and will. defend generally the title to the Property against all cla4ns and demands, subject to any encumbrances of record.. . ...,,' THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. j UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest, Prepayment and Late Charge!r. Borrower shall promptly pay when. due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. z.. Applicatio11 ofPaymenn-. Unless applicable law provides otherwise, all payments received by Lender under paragraph 1: first.. to any late charges due under the Note; second. to any accrued interest; third. to principal. 3. Charge!r; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may atlaÍ1I priority over this Security Instrument,. and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 1, or if not paid in that manner, Borrower shall pay them 011 time directly to the person owed payment Borrower shall promptly, upon request,. furnish to Lender all notices of amounts to be paid under this paragraph. ".- ·:·_,·····~·~ :.~·~to:·:·~.:·~·'·.. ,.' ,,;,'. " "';;:.1 " " ' '.: .'.': j" ';!:;'. ..,. -. íÜ~}:l8556 Borrower ~ promptly discharge MY lien which.has priority over this Security .Instrument 11nless Borrower: (11) .agrees in writing to 1he pllyment of the obligation secured by the lien in 1Í m.a.nner llcceptable to Lender; (b) contests in good :fuith 1he lien by. or defends llgainst enforcement of the lien in, legal proceedings which in the Lender's opinion operllte to prevent 1he enforcement of the lien; or (c) secures from the holder of the lièn M .agreement satisfactory to Lender suborciinl1ting 1he lien 10 this Security lnstrument. 1£ Lender determines :th11t MypMt of the Froperty is, subject 10 11 lien which JIlllY l1ttain priority over this Security .Instrument, Lender JIlllY give Borrower 11 notice identifying the lien. Borrower sluill S1ltisfy 1he lien or take' one or :more of the l1ctions sot forth llbove within 30 ili1ys of the giving' of notice. f.nn1;64 '.. \....\...òv 4. :Hazard or Property Insur.ance. Borrower sluill keep the mprovements now -existing or .hereafter erected on 1he Froperty insured lIgainst loss by fire, .hazards included within ;tbe term 'extended coverage" .and MY other hazards, inclnciiT\g floods or flooding, for which Lender requires insurMce, This lnsurMce Bhall be ml1intl1ined in the .amounts .and for 1he periods l1S the borrower, in its sole discretion. detennines is rellsonab1e. :The msurllIlCe carrier providing the insurMcesluill be cl10sen by Borrower, l1t its discretion. 5. PreservBtion, Maintenance.and Protection of the Property. Borrower's laM Applic111Ïon; Leaseholds. Borrower ~ not .destroy, damage or .impm the Froperty, 11llow 1he Froperty 10 .deteriOfllte, or commit w1lS1e on 1he Froperty. Borrower ~ be in .defuult ihnyforleiture 1lCtion or proceeding, whether civil or criminal, is begun:th11t in Lender's good:fuith jlldzm~nt could result in forfeiture, of the Froperty or otherwise ::materially impm 1he lien created by this Security .Instrument or Lender's security interest. Borrower ::may cure such 11 default .and reinstate, by causing 1he 1lCtion or proceeding 10 be ilismissed with 11 :ruling :th11t, in Lender's good faith determination, precludes forfeiture of 1he Borrower's interest in the Froperty or other::material .impairment of 1he lien crellted by this Security Instrument or Lender's security interest. 6. Protection of Lender's Rights.in the Property. lfBorrower fails 10 perfonn 1he .covenants .and ..agreements .contained m this Security Instrument, or there is B legal proceeding:th11t::may !;iz:nifi~ant]y .affect Lender's rights in the .Property (suchlls 11 proceeding in ba.nkruptcy, probate, for .concip-mnl1tion or forfeiture or 10 enforce laws or regulations), then LenderJIlllY do .and pay for whatever is necessary to protect the value of the Froperty .and Lender's rights in 1he Froperty. Lender'B .actions JIlllY include pllying MY sums secured by 11 lien which has priority over this Security lnstrument, l1ppearlng in .court, pllying reasonable l1ttomeys' fees .and entering on the Property to .make repms. Although Lender ::may take .action under this par.agrllph 6, Lender doesn01.have 10 do so. Any .amounts disbursed by Lender under this paragrllph 7 ~ become 11dditional .debt of Borrower secured by this Security Instrument. Unless Borrower .and Lender .agree 10 other 1enns of pllyment, 1hese .amounts ~ bear :interest :from 1he ili1te of disbursement l1t 1he Note rllte .and sluill be payable, with interest, upon notice :from Lender 10 Borrower requesting payment. 7. Mortgage lnsurBIlce. Mori:g1lge insurllIlCe is not B .condition of mil ki11Z this lrum. 8. Condemnation. The proceeds of .any llward or .claim for dm:nages, ilirect or consequentUù, in .connection with 1lIlY .c()nci~mnl1ti on or other 1aking of MY part of 1he :Property, or for conveYllIlCe in lieu of conciP.1l1nl1tion. .are hereby llSSigned 1lIld sluill be paid 10 Lender, to the extent of MY outstanding blliJmce owned 10 lender llt such point. 9. Borrower Not Released; 'ForbearBIlce By Lender Not.a W.aiver. :Extension of 1he time for payment or modification of .amortization of the Bums Becured by this Security Instrumentgnurted by Lender to MY successor in interest of Borrower ~ not operllte 10 release the lillbility of the original Borrower or Borrower's successors in :interest. Lender ~ not be required 10 ~ommence proceedings .against .any successor in interest or refuse 10 extend time for payment or otherwisemodify-, .amortization of the sums secured by this Security Instrument by reason of MY dema.nd ::rnade by the original Borrower or Borrower's successors in interest. Any forbearllIlCe by Lender in exercising .anY right or remedy sluill TIot be 11 w1lÍver of or preclude the exercise or MY right or remedy. 10. Snccessors 1lIld Assigns Bonnd; Joint Bnd Severj ;I Liability; Co-signers. The covenants .and .agreements of this Security .Instrument shall bind .and benefit 1he BuccessorB .andllSSigns of Lender .and Borrower, subject to 1he provisions of paragrllph 17. Borrower's covenants .and .agreements shJùJ. b~ joint .and several. Any Borrower who .co-Bigns this Security Instrument but does TIot execute1he Note: (11) is co-signing this Security Instrument only 10 mortgage, p-Mt.and convey:th11t Borrower's :interest in 1he :Property under 1he tenus of this Security Instrument; (b) is not personally obligated to pay 1he sums secured by this Security .Instrument; .and (c) .agrees :th11t Lender .and 1lIlY other Borrower JIlllY .agree 10 extend, modify, forbear or :make .any l1ccommodations with regard to the tenus of this Security .Instrument or 1he Note without that Borrower's .consent. .' r.<' 0:91.855~ 11. Loan Charges. There.are no loan charges .associated iv:ith this loan. 00565 12. Notices. Any notice to Borrower provided for ID this Security lnstrument shall be given by delivering it or by -mailing it by.:first class :mail unless applicable law requires use of another method. The notice, shall be Ærected to the Property Address or any other address Borrower designates by notice 10 lender. Any notice to Lender shall be given by first class :mail to .Lender's .address stated herein or any other .address Lender rlesignates by notice to Borrower. Any notice provided for in this Security lnstrument shall be rleemed to.have been given to Borrower or Lender when given.as provided ID this paragraph. 13. Gover.ning Law; Severability. This Security lns1rument shall be governed by federal law .and the law of the jurisdiction in wbich the Property is located. In the event iliat any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not lIffect other provisions of this Security lns1rument or the Note wbich can be given effect without the conflicting provision. To this end the provisions of this Security lns1rument.and the Note.are declared to be severable. . 14.:Borrower's Copy. Borrower shall be given one confm,:medcopy of the Note.and ofthisSecuritylns1rument. 15. :Hazardolls Substances. Borrower shall not cause or permit the presence, use, disposal, storage, orre1ease of any Bazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, .anything .affecting the Property that is ID violation of .any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storBge on the Property of small quantities of Hazardous Substances that.àre generally recognized to be appropriate to normal re!:icip.ntial uses.and to TI1aint~nance of the Property. Borrower shall promptly give Lender written notice of .any IDveStigation, claim, ðp.manrl, lawsuit or other .action by any governmp.nta 1 or regulatory Bgency or private party IDvo1ving the Property .and.any Hazardous Substance or Envirnnm~ntll1 Law of wbich Borrower bas actual knowledge. ITBorrower learns, or is notified by .any gOVM11mp.nta 1 or regulatory authority, iliat .any removal or other remediation of .any Hazardous Substance affecting the Property is .necessary, Borrower shall promptly take .aII .necessary remedial.actions in .accordance with Environmental Law. As used ID this paragraph 16, 'Hazardous Substances' .are those substances rle:fined.as 10xic or .hazardous .substances by Envirnnmp.ntallaw.and the following substances: gasoline, kerosene, other flammable or 10xic petroleum products, 10xic pesticides .and .herbicides, volatile solvents,.materials containinß .asbestos or formaldehyde, .and radioactive materials. As used ID 1his paragraph 1 ti, "Environmental Law" means federal laws .and laws of the jurisdiction where the Property is located iliatIclate 10 health, safety or envir(mmp.nta 1 protection. NON-UNIFORM COVENANTS. .Borrower .and Lender further covenant.and agree as follows: 16. Acceleration; Remedies..Lender shall give notice to Borrower prior to .acceleration following Borrower's breach of .any covenant or agreement ID 1his Security lnstrument (but not prior to .acceleration under paragraph 17 unless applicable law provides otherwise). T.henotice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less 1han 30 days from the date the notice is given to .Borrower, by wbich the default must be cured;.and (d) iliat failure to cure the .default on or before the date specified ID the notice may result in .acceleration of the sums secured by this Security Instrument.and sale of the Property. The notice shall further inform Borrower of the right to reinstate.after .acce1eration.and the right to bring a court .action to .assert the non-existence of a default or .any other rlefense of Borrower 10 .acceleration.and sale. IT the .default is not cured on or before the date specified ID the notice, Lender, at its option,.may require immediate payment in full of .aII sums .secured by this Security Instrument without further rlp.manrl .and may IDvoke the power of sale.and.any other remedies pennitted by applicable law. Lender shall be entitled to collect all expenses incurred In pursuing the remedies provided 1n 1his paragraph ] 7, including, but not limited 10, reasonable attorneys' fees .and costs of title evidence. Borrower is granting to the lender a "Power of Sale" 10 -foreclose on .and se1lthe property pursuant 10 the laws of Wyoming. IT lender invokes the power of sale, Lender shall give notice of intent 10 foreclose 10 Borrower .and 10 .the person :m possession of the .Property, if different, ID accordance with applicable law. lender shall give notice of 1he sale 10 Borrower in the manner provided ID paragraph ]2. .Lender shal1 publish 1he notice of sale, .and the Property shall be sold in .the :manner prescribed by applicable law. Lender or its .designee may purchase .the Pmperty at .any sale. The proceeds of the .sale shall be liPplied ID the following order: (a) to all expenses of the sale, including, but not limited to, Ieasonable littorneys' :fees; (b) to all sums secured by this Security lnstrument; .and (c) any :excess to the person or persons legally entitled 10 it. 17. Release. Upon payment of .all sums secured by this Security instrument,.Lender shall release this Security lnstrument ¡¡S.""". "'·a 1',1;',,';;:,:1',.'. ':', ,'.'.., ".) c.;;;:N.,~~ r~f:r:*~lilt::~ (}~1IJS5S6 without charge 10 Borrower. Borrower shall pay 1lI1Y recordation costs. .-~ f\~6'6' ,.", Û :BY SIGNING BELOW, Borrower llCcepts llIld .agrees 10 the terms llIld covenant:s contained.1n 1his Security 1ns1rument llIld.1n 1lI1yIider(s)execured by Borrower llIldrecorded wi1hit. This 15th rlay of May, 2006 AFrL;4A. ~ Charlotte A. Archer PIesident STA1E Of WAStilNGTON ) ) 55. COUNTY Of WtiATCOM ) On 1bis day personally .appeared beforeme, Charlotte A. Archer, President of APS AT-1, 1nc.10 meJœown 10 be 1he individual described .in.and who signed.as.her free and voluntary .act .and deed, for 1he liSes.and purposes ilierein mentioned. G . 15th liay of May, 2006. STATE OF WASHINGTON NOTARY PUBLIC COMMISSION EXPIRES JUNE 22, 2010 Bernadette, Notary Pllblic, in.and forili State ofW.ashington, residing .at Be . My commission expires June 22, 2006. :READ AND APPROVED: SCHENK FAMILY l1MIIED PARTNERSHIP C.leroy Schenk, GeneralP.artner Frances .Eileen Schenk, General P.artner STATE OF WYOMING ) ) ss: IlNCOLN COUNTY ) The foregoing .1nstrument w.as .acknowledged before me this day of ,2006. by (person .acknowledging) My Commission:EJgùres: Notary Public 09::t8556 r¡n567 \... \," without charge to .Borrower. .Borrower Bhall pay .any recordation .costs. BY SIGNING BELOW, Borrower .accepts Jmd .agrees to the terms Jmd covoumts cnT1t..iT1p."¡ ID this Security 1nstmment .and ID .anyIider(s) executed by Borrower .and recorded with it. AFSAT-l,lNC. Charlotte A. Archer Yresident STAlE Of WAStilNGTON } } 55. COUNTY Of WHATCOM } On this nay persoruilly .appeared before .me, Charlotte A. Archer, :President of AFS AT-l, Jnc. to.me .known to be the individual rlescribedin ßIld who .signed.as.her free.and voluntary .act ßIld rleed, for the uses ßIld purposes therein .mentioned. GIVEN 1.1I1der.my hand.and official seal this 12th nay of May, 2006. :Bernadette, Notary .Public, in .and for the State ofW.ashillgton, residing .at:Bellinzh;¡m. My commission expires June 22, 2006. Fnnces Eileen Schenk, General P.artner .sTATE OF WYOMING ) ) ss: 1...INCOLN COUNTY ) The foregffinginstrument was.acknowledged before:methis ~5Th day of May .2006. by C. LeToy Schenk and "Frances :Eileen Schenk~ PaTtneTs of The Schenk ramily Limited PættneTSm.p. (person .acknowledging) My CommissionExpires: 9~15-07 ~~Mßy~ ~~ii~*~iliW¡~ GLORIA K. BYERS - NOTARY PUBLIC County of ~ State of Lincoln V Wyoming My Commission Expires Sept. 15, 2qjit. :~i~' ".:,,:. '- '. -'j . _'" ~;li;· ·"-~L:,~·, "}~¡:,' .,. ~;:;':!:~'~9..:.'j!.*f~~·.,: I;" ::;':-~f Ü91rs~j56 Description_: Luthi 85 Acres C00568 A'portion o£ tþe Luthi. praperty, E.S re£-erred to. in the Deed xecoxded in Baok B8PR, on Page J.J.3, with the O£fice o£ the Clerk o£ Lincaln Caunty, WyD11iing, within the B1/2 0.£ .section 2J., nnd the Wl/2SW1/4 o:f Bection 22, iÙl within ~35N, :RlJ.9W, o£ the 6ti1 P.M. ,Lincaln Caunty , Wyoming, the IDetes and baunds being JIlare particularJ.y described as :fallaws: :BEGINNING :at the Paul N. Bcherbe1 RLS J. 64, J.967 lacation :far Nartheast COIner 0.£ Bectlbn 2B 0.£ said "T35N, 1Ul9W; thence N8B053'2B"W, along the North .line 0.£ said Bectian 2B, 3,244.62 :feet to. the Baker .Engine-eIS PEILS 69B, J.992 J.acatian :for the Bauthwest Closing Corner, with the :East .line o£ .sectian J.O 0.£ "T5B, R46E, 0.£ the Boise Mexidian, Caribau Caunty, :Idaho., o£ ßaid Beetlon 2J.; thence N0054 '25"E, along said East line, 60.00 feet; thence BBB053'28"E, parallel with ßaid North .line, l,l7B.7B :feet; thence Nl °3l' J.9"£, paralle~l"W the West .line a:f the BEl/4 0.£ said Bectlan 21, 747.82 to. a Paint in the Bauth .line o£ the Bca:E:fide praperty, as re£erxed to. in the Deed recarded in Boak 574PR, on Page 465, with said Office; thence B89°03' 02"E, :alang the Bauth .line 0.£ said Bcaffide pxaperty, J.,492. 51 :feet to. the Bautheast carner there 0.£ ; thence NO° 05 I J.4 "E, along the East .line 0.£ said Bca:E:fide praperty, 662.BB :feet to. the Dean Luthi praperty, as r-e:ferred to. in the Deed recarded in Baak 582PR, an Page 600, with ßaid O£fice¡ thence BB9°l0 '50"E, alang the .south .line 0.£ ßaid Dean Luthi. pxaperty, 57J.. 69 :feet to. ca Paint in the West .line 0.£ said BW1/4; thence B89°.12 '09"E, cantinuing alang said Bouth .line, l,3l0.91 :feet ta~oint in the West .line 0.£ the:El/2SW1/4 0.£ said Beetlan 22¡ thence B0051'34"W, alang said West .line, 77B.17 :feet to. the Narth carner o:f the Schenk praperty, E.S r-e:f-erred to in the Deed recorded in Baak 507PR, an Page 891, with said Office; thence Bouthwest-e.r1.y, :along the West-e.r1.y .line 0.£ said Bchenk property, the :fallawing: B39 ° 34 '42 "W 215.79 :feet; B56°J.5'.31"W 636.42 :feet; B47°16'46"W J.43.55 :feet, and B14°02'50"W 71.52 :feet to. E. :Faint in the Narth line o£ the NW1/4 0.£ Beetlan 27; thence N89°24 '45"W, calang said North line,529.92 :feet, to. the :Faint 0.£ Beginning, cantaining 86 . 63± Acres 0.£ .land. ~OGETBER WIT.H and BUBJECT ~O: "The :Easements and Rights-a:f-Way a:f Record, as :fallaws: :In Baak lO@?R, on Page 308, in .Book J.07:FR, on Page 468, and in Book 600, an :Fage 247, all with said O££ice. "TOGETBER WITH and .sUBJECT ~O: All Easements, :Exceptions, Reservations, Restrictions, Rights-a£-Way and :Ilr!Pxav-ements o£ sight and or recard. "To. be Cantiguaus with the Bhenk praperty re:ferred to. and recaxded .in Baak 507PR, an Page B91, with said Office.