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HomeMy WebLinkAbout919014 . .'-,........._...,....._..'-..L',~...~......",__..,-:....~. -,."........ .:-,,-~..,.,. -. ....., '-,.", ."".._",-,.~,,-... ,- '>, .&1 .> ~ b!'¡ a ~-Q ]~t· .~~,' ....¡/;~ , () , .:~.·I,,-,.·,·· 01;:; """'.~"" ~¡. . ",'rfl; ;¡.f/!<" ,rfi.'¿ ~~~ (,¡ i~ ~~. 11 '.. -......................-.,.-, ~-l.:-c;·.-."'·~......"""'....,..' ..",..".. ,.....~..., :"_'" . . d_'.". . ,'.',.,~.'."'.' ""'~','" . .., '_." _',. ~.'.'. "J"'. 20 C00177 MORTGAGE KNOW ALL MEN BY THESE PRESENTS, that Deen F. Heiner and Cheryl V. Heiner, Trustees of the Deon F. Heiner and Cheryl V. Heiner Family Revocable Trust dated May 16, 1997, and Quinn R. Heiner and Hyesoon H. Heiner, Trustees of the Quinn R Heiner and Hyesoon H. Heiner Family Revocable Trust dated January 8, 2004, herein referred to as mortgagor, of c/o Continental Construction, Inc., PO Box 3210, Alpine, WY 83128, to secure the payment of the principal sum of $2,857,267,92, with interest as evidenced by a Promissory Note dated of even date herewith to the order of Howard W. Woods and Gretchen L. Woods, husband and wife, of 406 Wilderness Lane, Grover, WY 83122, herein referred to as mortgagee, principal and interest payable as follows: 0:: W 0:: ~ " ~ ~~~o::~ ~ ww ~owz~ rnØ)C>~~ ~ :;; a: ~ fIj o w...J ~~ zU ......C> z>- coz «I- c>~~~ w-cø ,...... >W.. 0 _'-'~ U wwo Z 00::0 ...J W m 0 0:: ~ ~ ~ $2,857,267.92 in equal annual amortized installments of principal and interest in the amount of $511,836.74 with interest on the unpaid balance from May 23, 2006, until paid at the rate of six per cent (6%) per annum payable on May 23 of each year beginning May 23, 2007, and continuing on May 23 of each succeeding year until May 23, 2013, when the entire remaining balance, including principal and accrued interest, shall be due and payable in full. This represents an amortization of $2,857,267.92 over a period of 7 years at 6.00% interest payable in annual installments. All payments made shall be applied first to accrued interest on the unpaid principal balance and then to principal. Prepayments of principal may be made at any time in any amount without penalty. However, the parties agree that the total amount to be paid pursuant to the note and this mortgage, including principal and interest, is $3,300,000.00. Therefore, if mortgagor elects to payoff the balance early, the amount to be paid therefor must be adjusted so that mortgagor pays a total of $3,300,000.00 in principal and interest. (/ hereby mortgages to mortgagee, the following described real estate, situated in the County of Lincoln, State of Wyoming: A portion of Section 17, T33N, R118W of the 6th P.M., Lincoln County, Wyoming, being Parcels 1 and 2 as more particularly described on Exhibit A attached and incorporated herein by this reference. including all buildings and improvements thereon or that may hereafter be erected thereon; together with hereditaments and appurtenances and all other rights thereunto belonging, or in 1 ~;f:::¡::~~m:i¡:¡~ !&~f!.:~;~ij. 'I!' ,\fii· tkM $:':J;«:¡.:::;¡:P,:',:;' AI .J' e JÞ. ""...,,,, ..lJP'<-7fU- . ",! ······i· ...,..,¡~. "i" . ~;: ,: -·,:·~·¿~,~;",·:~h·1 " ;~~ili~æ¡~I:: ¡{~¡m~~m~~~¡m ';¡ .:¡'1.:'C'~'·¡·.·.·O;:';, ..,...¡'....',.,.......!'....;".:;<..".;.,,:.."'.......;'.- ' '.'., -'···~".',.",.,·~,"¡"""~c:.,..~ .~, " .., .~ ~";""."",...'r.,:...,. ,c. ~......;.'-.~,.-..'.....""':.,...::..,...- ~ ;)::.~... .~""""..:...,',.-.".,-, ,.",.".', . ,., :"~:,' ""..,.,...',;....-...'.'l;~:!."..,.." . -.........,\.:(........' . ) 091.901/k C00178 anywise now or hereafter appertaining, and the reversion and reversions, remainder and remainders, rents, issues, and profits thereof, and all plumbing, heating, and lighting fixtures and equipment now or hereafter attached to or used in connection with the premises. Mortgagor hereby relinquishes and waives all rights under and by virtue of the homestead laws of the State of Wyoming and covenants that it is lawfully seised of the premises, that they are free from all encumbrances and hereby covenants to warrant and defend the title of the premises against the lawful claims of all persons whomsoever. And mortgagor covenants with mortgagee as follows: 1. In case of default in any of the payments stipulated in the note, mortgagor, as further security for this mortgage and the note secured thereby, hereby assigns, sets over, and conveys to mortgagee all rents, issues, and profits from the property. 2. To pay promptly, when due, the principal and interest and other sums of money provided for in said Note and this Mortgage, or either; to pay all and singular the taxes, assessments, levies, liabilities, obligations, and encumbrances of every nature on said property. 3. To perform, comply with, and abide by each and every the agreements, stipulations, conditions, and covenants, set forth in said Note and this Mortgage or either. 4. Failure by the mortgagee to exercise any of the rights or options herein provided shall not constitute a waiver of any rights or options under said Note or the Mortgage accrued or thereafter accruing. 5. Nothing shall be done on or in connection with the property that may impair mortgagee's security hereunder; mortgagor wi Ii commit, permit or suffer no waste, impairment or deterioration of the property nor any part thereof, and the property shall be continuously maintained in good and sightly order, repair, and condition by mortgagor at his expense. 6. In case mortgagor defaults in the payment of ground rents, if any, taxes, assessments, water, or other governmental or municipal charges, or other lawful charges as herein provided, mortgagee may without notice or demand pay the same and in case of any failure on the part of mortgagor to comply with the covenants of Paragraph 5 hereof, mortgagee may effect such repairs as it may reasonably deem necessary to protect the property, at the expense of mortgagor. _t~ ~ ~ -fiI¡ / 2 '.. ........,.........,-,. ..-..,...........,.. ,'. '0. ."t....'... r'."· . ' a'.r . . '.,.' ",'.' . ," ,,!.;, ".j " ,..~ , ".. ..,.... "','.'.'.','. ',';" ,,_,_,.... '. ,_,,_ .'n._.,.. ..,...~... '..:"- ¡P(~··"1 o.1i1.(¡. '...' .._1..'..., -J"\J.. A C00179 Mortgagor shall repay such sums so paid and all expenses so incurred by mortgagee, with interest thereon from the date of payment, at 6% per annum, and the same shall be a lien on the premises and be secured by the note and by these presents; in default of making such repayments the whole amount hereby secured if not then due shall, if mortgagee so elects, become due and payable forthwith, anything herein contained to the contrary notwithstanding. 7. In the event the property is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness secured hereby, mortgagor binds himself personally to pay the unpaid balance, and mortgagee will be entitled to a deficiency judgment. 8. In case default is made in the payment, when due, of the indebtedness hereby secured, or of any installment thereof or any part thereof, or in case of breach of any covenant or agreement herein contained, the whole of the then indebtedness secured hereby, inclusive of principal, interest, arrearages, ground rents, if any, taxes, assessments, water charges, expenditures for repairs or maintenance, together with all other sums payable pursuant to the provisions hereof, shall become immediately due and payable, at the option of mortgagee, although the period above limited for the payment thereof may not have expired, anything herein before or in the note contained to the contrary notwithstanding; any failure to exercise such option shall not constitute a waiver of the right to exercise the same at any other time; and it shall be lawful for mortgagee to proceed to enforce the provisions of this mortgage either by suit at law or in equity, as it may elect, or to foreclose this mortgage by advertisement and sale of the premises, at public auction for cash, according to Wyoming statutes governing mortgage foreclosures, and cause to be executed and delivered to the purchaser or purchasers at any such sale a good and sufficient deed or deeds of conveyance of the property so sold, and to apply the net proceeds arising from such sale first to the payment of the costs and expenses of such foreclosure and sale, including a reasonable attorney fee, and in payment of all moneys expended or advanced by mortgagee pursuant to the provisions of Paragraph 6 hereof, and then to the payment of the balance due on account of the principal indebtedness secured hereby, together with interest thereon and the surplus if any, shall be paid by mortgagee on demand to mortgagor. In case mortgagee fails promptly to foreclose on the happening of any default, it shall not thereby be prejudiced in its right to foreclosure at any time thereafter during which such default continues, and shall not be prejudiced in its foreclosure rights in case of further default. 9. In case of any default whereby the right of foreclosure occurs hereunder and upon mortgagee becoming entitled to possession of the premises according to law, mortgagee shall at once become entitled to exclusive possession, use, and enjoyment of all property, and to all rents, lli':':':';'::;"'::':':~ ¡'~~;: ':. '_' ;,:,: t-'¡~ '~I_ ,Il:':,~~,:¿~~l:i~ 3 m:;:::¡:r:::::;¡¡:::~~ ~'~."'¡';llj , . " ··'''..Zj¡¡; ,~.;:;:; Jf7!1f I. ¡J::;:::::::;::¡:;:i::;¡i::¡ /1 , ' Hi IT] ((!f$;;.. ,. c. . ¡;g¡¡;>:¡¡¡;~¡i(~'~1 ¡''''.'l('¡lj·Ó~i;..,.~,j!¡ !~i~::;:: ¡~~t1j:~~jtttt~{ ~I:~~:,:~j ;~,!.~~~Ir~~.~~ .'.'".-."',..,..,...:.:,...,"'.,"",........;.,.-....,..,.."'C.;A:,~.........~......,...~..._....~.,"',,·_.......·..,...,.....,,·o....~~..,· .. '·i·...·.·...·.....__~.~.·t ..~._, . . ....., ~'~:··~'~"~·"'-;""':'_.""i"":.n...........",,,,,,,,,,",~,,, -n',co..' ."·.·.',,.'..·...'tIÒ..,'.~,··,.' -.".'1-;_;,..<0 '''.:0. ,.."'..,......._., . \C ..:" 9()1/V ~j..Lt. ,. ~ C00180 issues, and profits thereof, from the accruing of such right; and such possession, rents, issues, and profits shall at once be delivered to mortgagee on request, and on refusal, the delivery of such possession, rents, issues, and profits may be enforced by mortgagee by any appropriate civil suit or proceeding, including action or actions in ejectment, or forceable entry, or unlawful detainer; and mortgagee shall be entitled toa receiver for the property and all rents, issues, and profits thereof, and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of mortgagor or the then owner of the property, and without regard to the value of the property or the sufficiency thereof to discharge the mortgage debt and foreclosure costs, fees and expenses; and such receiver may be appointed by any court of competent jurisdiction, and all rents, issues, profits, income, and revenue of the property shall be applied by such receiver, according to law and the orders and directions of the court. 10. The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, 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. 11. Whenever used herein, the terms "mortgagor" and "mortgagee" include all the parties to this instrument and the heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations; and the term "Note" includes all the notes herein described if more than one. 12. Upon mortgagor's prior written request and on the terms and conditions of this Paragraph 12, mortgagee will grant partial release(s) of the mortgage. Mortgagor's payments on the note and mortgage must be current at the time any partial release is requested. The land to be released may be selected by mortgagor but shall not be less than 35 acres in size, and mortgagor shall provide a legal description for the land to be released from the mortgage. Mortgagor shall pay to mortgagee the sum of the entire net proceeds from the sale of any land partially released from the mortgage. Mortgagor shall pay any and all expenses for such partial release(s), including without limitation, title insurance, recording fees, and legal fees incurred in connection with the partial release(s). Mortgagor's additional payments made for partial release(s) shall not reduce the amount of the required annual installments and shall be applied first to any accrued interest on the unpaid principal balance and then to reduce the outstanding principal balance. IN WITNESS WHEREOF, Mortgagor has executed this Mortgage as of the 23rd day of May, 2006. 4 rØrtJtI d~/ ·..................,............,..........~., ; ,.,._."""~_.,.~'..:._~=-..,. 091.901.£\ . -,.. ..,'." ·....".·'.·''''-'-''''I..~. . " ~.".".... .............-......;... ..1 ".;·IJ..",.""....."·_~.""\..'f'~.":\'I'\..iI\I·...l'O,,,......,..~..,...·,_, '._ '.' ,. ";_"..' .""........ .......'.... "', ',' , ,. _.",.." .'._,........... ',' C00181 Deon F. Heiner and Cheryl V. Heiner Family Revocable Trust dated May 16, 1997 By By {!~ ~A' Che~ Trustee Quinn R. Heiner and Hyesoon H. Heiner Family Revocable Trust dated January 8, 2004 BY~~ Quinn R. Heiner, Trustee , I By ,e{lJðY1 Ii ~ yesoon H. Heiner, Trustee 5 ~*ilœ:i§::f:::::m ~' ~m·:-,,,ft·'''· ~ .~.'.J"",.'~.," ;<~f'r-' ~~~i;;;imm~;~~m~ ..,....... "", "". . '-'.''-',' -'... ..' '..................,... ..........,--,.,.-=.~..."..; ....., '''''.' ,.. , . ,.. -, -'''. ~"';'.'. .'~.' . ,- . -'. ", .',' . '... .'~:.-'.,.'...,.. f Û¿' qOÄl IW L7 J...... _"...L~ C00182 STATE OF WYOMING 55. COUNTY OF LINCOLN On this 23rd day of May, 2006, before me personally appeared Deon F. Heiner and Cheryl V. Heiner to me personally known, who, being by me duly sworn and put upon their oath, did say that they are the trustees of the Deon F. Heiner and Cheryl V. Heiner Family Revocable Trust dated May 16, 1997, described in and which executed the foregoing instrument; that said instrument was signed and sealed on behalf of said trust; that said trustees had the authority under the terms of the written trust instrument to execute the instrument on behalf of the trust; and said trustees acknowledged said instrument to be the free act and deed of said trust. Given under my hand and notarial seal the day and year first above written in this certificate. ~oJ2Ù;;U M ~ NOTARY PUBLIC My commission expires: 9~lS·07 STATE OF WYOMING ORIA K. BYERS· NOTARY PUBLIC County of State of Lincoln Wyoming My Commission Expires Sept. 15, 2007 ss. COUNTY OF LINCOLN On this 23Td day of May, 2006, before me personally appeared Quinn R. Heiner and Hyesoon H. Heiner to me personally known, who, being by me duly sworn and put upon their oath, did say that they are the trustees of the Quinn R. Heiner and Hyesoon H. Heiner Family Revocable Trust dated January 8, 2004, described in and which executed the foregoing instrument; that said instrument was signed and sealed on behalf of said trust; that said trustees had the authority under the terms of the written trust instrument to execute the instrument on behalf of the trust; and said trustees acknowledged said instrument to be the free act and deed of said trust. Given under my hand and notarial seal the day and year first above written in this certificate. A;!¿(lJU;aJ ~ ~ ' NOTARY PUBLIC My commission expires: 9~lS-:07 6 . RIA K. BYERS. NOTARY PUBLIC C~~~~not . State .of M Wyommg Y CommIssIon Expires Sept. 15, 2007 tf~ / /' ..,:.:·.·~",:..-.a;.t"'W"""·"i'i~":''''''~~~·~'~'':'':'J:·L~:·'fl!.:.l.:·'';:...'~._. :.'.~~ ,:.:.-=.(',..··.·,.,1;0.:.:.0:.0:..:.;.:1:1;..... -' _!,,-,,-_,~ ,·..·,'..'..·!"~'~~~!:~"'-.7{'y'.~~'.,',\ ." '':'-~,:,,¡:.;,s.i4,¡~.:'I..~..¡<~.c.¡;:!-';:'.'. ':.':, '_'__"": '.'.i ¡.~"'...."'~"_'_: ~·.·\9" 190 1., t.:'\, _~..._ ......J! -- ...... C00183 Exhibit A File 6010615220 Description The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is described as follows: Parcell South Half of the Northeast Quarter and the North Half of the Northeast Quarter of Section 17, Township 33 North, Range 118 West of the 6th P.M., Lincoln County, Wyoming. Excepting therefrom the land described in Warranty Deed recorded March 9, 1981 in Book 173PR on page 636 of the records of Lincoln County, Wyoming. Parcel 2 North Half of the Southeast Quarter of Section 17, Township 33 North, Range 118 West of the 6th P.M, Lincoln County, Wyoming. Excepting therefrom the land described in Warranty Deed recorded July 18,2001 in Book 468PR on page 826 of the records of Lincoln County, Wyoming. ~~~~ilimWH¡