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HomeMy WebLinkAbout923733 ...-? !)J l;j~~liw.~r~I~~; 000177 MORTGAGE DEED EXECUTED thisd4¿ day of October, 2006, WAYNE K. HESSON and KAREN J. HESSON, Husband and Wife, tenants by the entireties, of Thayne, Wyoming, hereinafterca1led the MORTGAGOR, to RON BOULTER, of Thayne, Wyoming, hereinafter called the MORTGAGEE. (Whenever used herein, the term "MORTGAGOR" and "MORTGAGEE" include all the Parties to this instrument and their heirs, legal representatives, and assigns of corporation; and the term "NOTE" includes all the notes herein described ifmore than one). WIT N E SSE T H: THAT FOR GOOD and valuable considerations, and also in consideration of the aggregate sum named in the Promissory Note of even date herewith, hereinafter described, the MORTGAGEE hereby grants, bargains, sells, aliens, remises, conveys, and confirms unto the MORTGAGORS, all the certain land of which the MORTGAGEE is now seized and in possession, situated in Lincoln County and State of Wyoming, more particularly described as follows, to-wit: A portion of the Peterson OfficelHome property, as referred to in the.Deed recorded in Book 591PR on Page 234, with the Office of the Clerk of Lincoln County, Wyoming, within the Northwest Quarter of the Northwest Quarter of Section 11, Township 34 North, Range 119 West of the 6th P. M., Lincoln County, Wyoming, the metes and bounds being more particularly described as follows: ~J BEGINNING at a point in the Easterly Right-of-Way line for U. S. Highway 89; said POINT OF BEGINNING, being 618.33 feet South 15°19'58" East from the Charles V. King PFJLS 590, location for the Southwest comer of the Southwest Quarter of Section 2 of said Township 34 North, Range 119 West; thence North 59°02'51" East, 59.54 feet; thence North 51 °39'15"East, 338.50 feet; thence South 32°06'35" East, 205.85 feet to a point in the North line of the Rocky Point Business Park as shown on Plat No. 2-E with Instrument No. 878471; thence South 78°31 '04" West, along said North line, 426.89 feet, to a point in said Easterly Right-of-Way; thence North 22°07'35" West, along said Easterly Right- of-Way, 20.19 feet to the POINT of BEGINNING. Hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming.. TO HAVE AND TO HOLD the same together with the tenements, hereditaments, and appurtenances thereto belonging, and the rents, issues, and profits thereof, unto the MÖRTGAGEE in fee simple: And., the MORTGAGOR covenants with the MORTGAGEE that the MORTGAGOR is indefeasibly seized of said land in fee simple; that the MORTGAGOR has good right and lawful authority to convey said land as aforesaid; that the RECEIVED 10/26/2006 at 10:15 AM RECEIVING # 923733 BOOK: 638 PAGE: 177 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER. WY MORTGAGE DEED HessolllBOIlIter Page I ofl 09~J'i' J:~ 000178 MORTGAGOR will make such further assurances to perfect the fee simple title to said land and the MORTGAGEE as may reasonable be required; that the MORTGAGOR hereby warrants the title to said land and will defend the same against the lawful claims for all persons whosoever; and that the said land is mortgaged as known by this mortgage. PROVIDED ALWAYS, that if said MORTGAGOR shall pay unto said MORTGAGEE, the certain Promissory Note in the amount of ONE HUNDRED THIRTY-FIVE mOUSAND (5135,000.00) DOLLARS aDd NO/loo at eight (8%) perceDt mterest per aDDum to be paid by or before Octoaher 24, 2011, as per SCHEDULE" A", attached and made a part hereof, and shall perform, comply with, and abide by each and every agreement, stipulation, condition, and covenant thereof, and of this Mortgage, then this mortgage and the estate hereby created shall cease, determine and be null.and void. . AND THE MORTGAGOR shall not destroy, damage, or substantially change the property or allow the property to deteriorate or commit waste. AND THE MORTGAGOR shall protect the MORTGAGEE'S rights and security in the property. AND THE MORTGAGOR shall protect the MORTGAGEE'S rights and security in the property. NOT ASSUMABLE-NONTRANSFERABLE MORTGAGE. Each Party to this mortgage shall be bound individually and severably by the terms therein. If all or any part of the property or any interest in it is sold or transferred without the MORTGAGEE'S prior written consent, the MORTGAGEE may at their option, require immediate payment in full of all sums remaining owed under this Promissory Note and/or Mortgage. The MORTGAGEE shall give the MORTGAGOR notice of acceleration. MORTGAGOR shall be allowed ninety (90) days to complete payment thereof; however, not to extend the payoff date of said note. AND THE MORTGAGOR hereby further covenants and agrees 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; to permit, commit, or suffer no waste, impairment, or deterioration of said property and/or the improvements thereon at any time; to pay all costs, charges, and expenses including reasonable attorney fees, and title searches, reasonably incurred or paid by the MORTGAGEE because of the failure of the MORTGAGOR to promptly and fully comply with, and abide by each and every agreement, stipulation, condition, and covenant set forth in said Note and this Mortgage, or either. In the event the MORTGAGOR fails to pay, when due, and tax assessment, or other sum of money payable by virtue of said Note and this Mortgage, or either, the MORTGAGEE may pay the same without waiving or affecting the option to foreclose or any other right hereunder, and all such payments shall bear interest ftom date thereof at the highest lawful rate allowed by law. MORTGAGE DEED HessOn/BoMlteT Page 2 ofl (:>j.i:::?~J I,... J¡'j,.I. . ,¡ . J..:..:,¡,~...;.:":~ '" ~ilifIli~f ~~ ¡¡¡¡H~~*F: 092373:3 000179 If the MORTGAGOR defaults in the payment of the indebtedness hereby secured, for a period of ninety (90) 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 or note holder 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 MORTGAGOR hereby grants to MORTGAGEE, their heirs, and assigns, a Power of Sale over the property described above which may be exercised by MORTGAGEE or their heirs and assigns in case of such default as described.above, and pursuant to such Power of Sale, MORTGAGEE, their heirs and assigns may foreclose on said property and sell and dispose of or cause to be sold or disposed of, the above property and all rights, title, " benefit, and equity of redemption of the MORTGAGOR, their heirs or assigns, therein, at public auction, for cash according to Title 34, Chapter 4, Wyoming Statutes, as the same presently exists or may hereafter be amended. IN WITNESS WHEREOF, the MORTGAGORS have set their hand and seal the day and year first above written, hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. DATED this JIfII, day of October, 2006. W A . HESSON STATEOFWYOMmG ) ) SSe COUNTY OF LINCOLN ) ACKNOWLEDGED to me, a Notary Public in and for the state and county above-mentioned, personally by Wayne K. Hesson and Karen J. Hesson, on this d?~ day of October, 2006. HMotO WlNE.S Notary Public County of State of LIncoln . g My CommIuIon Expilea 0 ~iÞn }1~~ ~Lw NOTARY PUBUC ./ My Commission Expires:---7 ~t. ~ d-ð ð 7 I WITNESS my hand and official seal. MORTGAGE DEED HessolllBolllter Page 1 ofl ~. ~ 0001.80 O~~37~:.i PROMISSORY NOTE $135,00oºº October 24,2006 Afton, Wyoming THE UNDERSIGNED, jointly and serverably, if more than one. promise to pay RON BOULTER, of Thayne, WY 83127, the principal sum of ONE HUNDRED THIRTY-FNE THOUSAND ($135,000ºº) DOLLARS and NO/lOO and interest of EIGHT (8%) PERCENT from the 24TI1 day of October, 2006. The principal and interest shall be payable to note at such place as the holder may designate, in the following manner: 1. Interest shall commence on the 24th day of October, 2006, at EIGHT (8%) PERCENT per-annum. Interest payments are to be paid monthly over 5 years in the amount of NINE HUNDRED ($90<f2) DOLLARS and NO/loo; the first payment due on November 24, 2006, to include miscellaneous costs in addition to interest, and made on the 24 TII of each month thereafter. 2. There shall be a five (5) day grace period for late interest payments. Thereafter there shall be a late fee of TWENTY-FIVE ($2500) DOLLARS and NO/l 00 assessed for every day the payment is.late after the five day grace period. 3. ONE HUNDRED THIRTY-FIVE THOUSAND ($135,00()º2-) DOLLARS and NO/l 00 shall be due and payable on or before October 24,2011, paying the note in full at that time, to include any unpaid late fees and/or interest. 4. Payments shall be made payable to Ron Boulter at a place that the holder may designate. 5. All principal unpaid and any accrued unpaid late fees and interest shall be due and paid no later than October 24, 2011. 6. Any payments shall be applied first toward interest, late fees, and then to principal. 7. This note shall be due immediately if the security is transferred, conveyed or sold. Said note is non-transferable. Purchaser may prepay this note without penalty at any time. Prepayment of principal shall reduce the monthly interest payment to actual interest owed monthly. IN THE EVENT OF DEFAULT in the payment of any installment of principal or interest, and if such default is not made good within ninety (90) days after notice the same becomes due and payable, the entire principal sum and accrued interest shall, at the option of the holder, become immediately due and payable. without notice. Failure to exercise this option shall not constitute a waiver of the 1 5C.HEDk.L.E "A,e PROMISSORY NOTE HessonIBolllJer Page 1 of¡ ~~~ilimi1~:~ ._:::¡*:~.;*:*::¡;: .....,.,... i·.ii~·i.". t:t:~..! .1~~~3:0.;~, :~;:::~:~!~:;;:;::~:: o~~J'ì' 33 000181 right to exercise the same in the event of any subsequent default. In the event of default, the undersigned, jointly and severally, if more than one agree to pay all costs of collection, including a reasonable attorney fee to the holder' s ~mey, whether suit be brought or not. PRESENTMENT, protest, notice or protest, and notice of dishonor are hereby waived. SECURITY, this note is secured by mortgage on a portion of the Peterson Office/Home Property, North of the Town of Thayne, Lincoln·County, Wyoming as described in the official plat thereof. DATED this JlÞ!day of October, 2006. S/S WAYNE K. HESSON S/S KAREN J. HESSON STATE OF WYOMING ) ) SS. ) COUNTY OF LINCOLN On this day of October, 2006, before me a Notary Public for the State of Wyoming, the foregoing Promissory Note was acknowledged by Wayne K. Hesson and Karen J. Hesson. WITNESS my band and official seal. NOTARY PUBUC My Commission Expires: PROMISSORY NOTE HessolllBollller Page] of] - !.