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Home My WebLink About923591 CJ ~~ .obi) "'0.5 .gS ... 0 0>, ~~¿. b(¡..... = s:: 0 0 :2 ê ~ KNOW ALL MEN BY THESE PRESENT~ that ORLEN ZEMPEL and ELAINA N. ZEMPEL, .~ ~ 5 Diamondville ~;~I B3~16 1" ~~o , D "g ~ referred to as Mortgagor, of P.O. Box 56,~, yoming , 0 secure payment of the principal f1~:a 0'::1 ¿:; ~ fifty-four thousand dollars ($54,000), together with interest on the declining balance thereof at the rate of ig .~ ~ --1 / .../ L( 000722 {1 REAL ESTATE MORTGAGE five and one-half percent (5 ~ %) per annum, to be amortized over a fifteen (15) year period, which shall be paid in the following manner: forty-eight (48) equal monthly installments of four hundred forty-one dollars and twenty-two cents ($441.22) each for four (4) years commencing on the 151 day of November, 2006 and payable thereafter on the same day of each succeeding month. At the end of the fourth (4th) year after closing or prior thereto, Buyer agrees to pay and Seller agrees to accept payment of a balloon payment consisting of the entire remaining balance of the purchase price together with interest that shall have accrued at five and one-half percent (5 ~%) per annum on the unpaid balance thereof from the date of executing the Promissory Note dated of even date, herewith payable to the order of the FRANK A. JOHNSON, Personal Representative of the ESTATE OF MARCUS EDWIN JOHNSON, a/kJa EDDIE JOHNSON, P.O. Box 507, Kemmerer, Wyoming 83101, herein referred to as Mortgagee or its heirs or assigns. Mortgagor hereby mortgages to the Mortgagee, the following described real estate, situated in the County of Lincoln, State of Wyoming, as follows, to-wit: NEl/4NWl/4, Section 34, 121N, Rll7W of the 6th P.M. in Lincoln County, Wyoming Mortgagors hereby relinquish and waive all rights under and by virtue of the homestead laws of the State of Wyoming and covenants that they are lawfully seized 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 the Mortgagor covenants with the Mortgagee as follows: 1. At the option of Mortgagee, this Mortgage shall become due and payable in full in the event of the sale or transfer of the property either by deed or contract for deed. 2. Mortgagor will pay the indebtedness as herein provided. Mortgagorreserves the right to pay the debt in whole, or in part on any date prior to maturity, without penalty. 3. Mortgagor will pay all ground rents, taxes, assessments, water rents or costs and other governmental or municipal charges, or other lawful charges, and will promptly deliver the official receipts therefor to Mortgagee. In default thereof, Mortgagee may pay the same. 4. Nothing shall be done on or in connection with the property that may impair Mortgagee's security hereunder; Mortgagor will not commit, pennit or suffer any waste, impainnent or ProbatclIohnson. Eddie\Sale of 40 acresIMortgage -1- RECEIVED 10/20/2006 at 3:49 PM RECEIVING # 923591 BOOK: 637 PAGE: 722 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 1illili:~:;::':':¡:;¡¡!!S ..'i:" ¡ ~:~tt;',: .~~t:·f. ;;, + . -.-..... -.'. ~ : ,./.., . :.*i;!:i:::j::;::il;; . f":I .' :.Ò~!~ ;~~~;;.~~.-: ":~:¡~·I·.I'·I·'·'·'·'· I:t:>.::*:~::::::;~,-:' O~235S1.. 000723 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 their or its expense. 5. In case Mortgagor defaults in the payment of ground rents, or any taxes, assessments, water, or other governmental or municipal charges, or other lawful charges as herein provided, Mortgagee may, after providing thirty (30) days written notice or demand, pay the same and Mortgagee may effect such repairs as it may reasonably deem necessary to protect the property, at the expense of Mortgagor. Mortgagor shall repay such sums so paid and all expenses· incurred by Mortgagee, with interest thereon from the date of payment, at ten percent (10%) 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 wh?le amount hereby secured if not then due shall, if Mortgagee so elects, become due and payable forthwith, anything herein contained to the contrary notwithstanding. 6. In the event the property is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness secured hereby, Mortgagor binds itself to pay the unpaid balance, and Mortgagee will be entitled to a deficiency judgment. 7. In case default is made in the payment, for a period of thirty (30) days after the same shall become due and payable, 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 premises, at public auction for cash. according to Wyoming Statutes governing mortgage foreclosures, and cause to be executed and delivered to the Mortgagor 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 Probate\Johnson, Eddie\Salc of 40 acresIMortgage -2- - .-,"'.".:,:...:..,,<_., -",-,-,,,-~,,,,,,,,--,>,:,,,,;~.-...;,;,:,,. :":_,--,-,~~",;,;,::",,,,,,"_-':..-. 09~3531 000724 foreclosure and sale and in payment of all moneys expended or advanced by Mortgagee pursuant to the provisions of Paragraph 5 hereof, or other appropriate Paragraph 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 to Mortgagor. There shall be included in any or all such proceedings a reasonable attorney's fee. 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. '. 8. In case of any default whereby the right of foreclosure occurs hereunder, Mortgagee shall at once become entitled to exclusive possession, use, and enjoyment of all prop'erty, 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, if there is any; 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 forcible entry, or unlawful detainer or other proper legal action; and Mortgagee shall be entitled to a receiver for the property and all rents, issues, and profits thereof, after any such default, including the time covered by foreclosure proceedings and the period of redemption, if there is any, 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. 9. 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 shall include the plural, the plural the singular and the use of any gender shall include all genders. 10. The Mortgagor hereby releases and forever quitclaims to Mortgagee all its rights of homestead in and to the above-granted or described premises. 11. Mortgagee shall have the right to declare the default of the Mortgagor upon the Mortgagor's failure to fulfill its obligation stated in anyone or more of the above Paragraphs, and to proceed pursuant to anyone or more of the above Paragraphs. The Mortgagee may also ProbaieIJoImson. Eddie\Sa1e of 40 aaesIMortgage -3- l~);'ij!l;:;:~~ø - ~i¡~¡~:m¡;;Wi~:: :~:i :~i~~~~f.f~~~r O~:G:J531 000725 declare a default upon anyone or more of the following: a. The failure of the Mortgagor to make any payment required in this Agreement for a period of thirty (30) days after the same shall become due and payable; b. The failure of the Mortgagor to abide by anyone of the terms and conditions of this Agreement; c. The filing of a petitipn for the adjudication of the Mortgagor as a bankrupt. 12. The Wldersigned hereby certify and guarantee and they each have read and Wlderstand the above described mortgage and execute it as their own free will without threat or coercion of any type Dated this /1 '. day of October, 2006. ([2L ?~ ¿J/ RLEN zÈMPà / L '. STATE OF WYOMING ) )ss. COUNTY OF LINCOLN ) The foregoing Real Estate Mortgage was acknowledged before me thisE1- day of October, 2006, by OrleD Zempel and Elaina N. Zempel. WITNESS my hand and official seal. Notary Public /' My Commission xp' s: NANCy STAFFORD -ÑÔTAAv PúâúC ~ CaMY/J e. STATI /J lNnN wy_ IIy ConøissiIa Exø/I1s Probate\JoImson. EddiclSalc of 40 acrcsIMortgagc -4- -