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Home My WebLink About923746 @~lITr RECEIVED 10/26/2006 at 10:50 AM RECEIVING # 923746 BOOK: 638 PAGE: 209 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 000209 CONTRACT FOR DEED TIllS DA y this agreement is entered into by and between Rodney Craig Smith and Leanne A. . . Smith. hereinafter referred to as "SELLER", and, Christopher D. Abrams and Melanie A. Abrams hereinafter referred to as "PURCHASER", on the terms and conditions and for the purposes hereinafter set forth: 1. SALE OF PROPERTY For and in consideration ofTEN DOLLARS ($10.00) and other goods and valuable considerations the receipt and sufficiency of which is hereby acknowledged, Seller does hereby agree to convey, sell, assign, transfer and set over unto Purchaser, the following property situated in Lincoln County. State of Wyoming, said property being described as follows: (l'ype legal description or attach description as exhibit ''A'~ Legal DescriDtion: Westview Village Subdivision. Lot 29 Physical Address: 203 Circle Drive. Aiton. WY 83110 Together with all rights of ownership associated with the property, including, but not limited to, all easements and rights benefiting the premises, whether or not such easements and rights are of record, and all tenements, hereditaments, improvements and appurtenances, including all lighting fixtures, plumbing fixtures, shades, venetian blinds, curtain rods, storm windows, storm doors, screens, awnings, if any, and playhouse in backyard now on the premises. SUBJECT TO all recorded easements, covenants, conditions and restrictions, rights-of-way, conditions, encumbrances and limitations and to all applicable building and use restrictions, zoning laws and ordinances, if any, affecting the property. 2. PURCHASE PRICE AND TERMS The purchase price of the property shall be $225.000.00. The purchaser does hereby agree to pay to the order of the Seller the sum of Eleven thousand, two hundred and fifty dollars ($11,250.00) upon execution of this agreement, with the balance of $213.750.00 being due and payable as follows: Balance payable, as interest only on the whole sum that shall be from time to time paid at the 1 - Contract for Deed ,,",. I. 092J?4~} 000210 rate of 6 percent, per annum, payable in the amount of $1 068.75 dollars per month beginning on the 23 day of November, 2006 and continuing on the same day of each month thereafter for 12 months at which time balance will be due in full or at which time the Seller and purchaser may choose to renegotiate financing terms. 3. TIME OF THE ESSENCE Time is of the essence in the performance of each and every term and provision in this agreement by Purchaser. 4. SECURITY This contract shall stand as security of the payment of the obligations of Purchaser. 5. MAINTENANCE OF IMPROVEMENTS All improvements on the property, including, but not limited to, buildings, trees or other improvements now on the premises, or hereafter made or placed thereon, shall be a part of the security for the performance of this contract. Purchaser shall not commit, or suffer any other person to commit, any waste or damaee to said premises or the appurtenances and shall keep the premises and all improvements in as good condition as they are now. 6. CONDITION OF IMPROVEMENTS Purchaser agrees that the Seller has not made, nor makes any representations or warranties as to the condition of the premises, the condition of the buildings, appurtenances and fixtures locate thereon, and/or the location of the boundaries. Purchaser accepts the property in its "as-is" condition without warranty of any kind. - 2- Contract for Deed ~' "" "'illi II.,>I/>'..I,.;...... ¡;y::i;~;n:¡:!;'~;::;': .,... :::::*:~*:::*;::: ~L::'::;;" !amfi~*~~;~1~~i :~1¡;:::~:,:~ ~:~~:~~::::::!:¡: 092J74b 000211 7. POSSESSION OF PROPERTY '. Purchaser shall take possession of the property and all improvements thereon upon execution of this contract and shall continue in the peaceful enjoyment of the property so long as all payments due under the terms of this contract are timely made. Purchaser agrees to keep the property in a good state of repair and in the event of termination of this contract, Purchaser agrees to return the property to Seller in substantially the same condition as it now exists or better, ordinary wear and tear excepted. Seller reserves the right to inspect the property at any time with or without notice to Purchaser. 8. TAXES. INSURANCE AND ASSESSMENTS Tues aDd ÅssessmeDts: During the term of this contract: (Select one) Purchaser shall pay all taxes and assessments levied against the property. CODteDt lDsunmce: Purchaser shall be solely responsible for obtaining insurance of the contents, insuring contents owned by Purchaser. Liability aDd Hazard lDsunmce: Liability insurance shall be maintained by Purchaser during the term of this contract. Fire, Hazard aDd WiDdstonn iDsunmce: Fire, hazard and windstorm insurance shall be maintained as follows: (Select one) Purchaser shall obtain fire, hazard and windstorm insurance. Should the Purchaser fail to pay any tax or assessment, or installment thereof, when due, or keep said buildings insured, Seller may pay the same and have the buildings insured, and the amounts thus expended shall be a lien on said premises and may be added to the balance then unpaid, or collected by Seller, in the discretion if Seller with interest until paid at the rate of the 6 per cent per annum. - 3- Contract for Deed .... ~ 09;¿3IÎIi.tG 000212 In case of any dalID\ge as a result of which said insurance proceeds are available, the Purchaser may, within sixty (60) days of said loss or damage, give to the Seller written notice of Purchaser's election to repair or rebuild the damaged parts of the premises, in which event said insurance proceeds shall be used for such purpose. The balance of said proceeds, if any, which remain after completion of said repairing or rebuilding, or all of said insurance proceeds if the Purchaser elects not to repair or rebuild, shall be applied first toward the satisfaction of any existing defaults under the terms of this contract, and then as a prepayment upon the principal balance owing. No such prepayment shall defer the time for payment of any remaining payments required by said contract. Any surplus of said proceeds in excess of the balance owing hereon shall be paid to the Purchaser. 9. DEFAULT If the Purchaser shall fail to perform any of the covenants or conditions contained in this contract on or before the date on which the performance is required, the Seller shall give Purchaser notice of default or performance, stating the Purchaser is allowed fourteen (14) days from the date of the Notice to cure the default or performance. In the event the default or failure of performance is not cured within the 14 day time period, then Seller shall have any of the following remedies, in the discretion of Seller: Give the Purchaser a written notice specifying the failme to cure the default and informing the Purchaser that if the default continues for a period of an additional fifteen (IS) days after service of the notice of failure to cure, that without further notice, the entire principal balance and unpaid interest shall be immediately due and payable and Seller may take appropriate action against Purchaser for collection of same according to the laws of the State of Wyoming. In the event of default in any of the terms and conditions or installments due and payable under the terms of this contract and Seller elects 9(a), Seller shall be entitled to immediate possession of the property. In the event of default and termination of the contract by Seller, Purchaser shall forfeit any and all payments made under the terms of this contract including taxes and assessments as liquidated 4- Contract for Deed .,. ::i::::~::::j~¡:::;:: tl.' !iI,'.','.' ~:': .:. m¡[¡~m:fI¡ì~L~t~~ ::~::~~:~ ':::!:::::t:~:::::~~:: 09237'lfJ, 000213 damages. The parties expressly agree that in the event of default not cured by the Seller and termination of this agreement, Purchaser shall have the right to obtain possession by appropriate court action. '. 10. DEED AND EVIDENCE OF TITLE Upon total payment of the purchase price and any and all late charges, and other amounts due Seller, Seller agrees to deliver to Purchaser a Warranty Deed to the subject property, at Seller's expense, free and clear of any liens or encumbrances other than taxes and assessments for the current year. 11. NOTICES All notices required hereunder shall be deemed to have been made when deposited in the U. S. Mail, postage prepaid, certified - return receipt requested, to the Purchaser or Seller at the addresses listed below. All notices required hereunder may be sent to: SeDer: Rodney Craig and Leanne A. Smith 189 Circle Drive Aiton. WY 83110 Purchaser: ChristoDher D. and Melanie A. Abrams 203 Circle Drive Aiton. WY 83110 and when mailed, postage prepaid, to said address, shall be binding and conclusively presumed to be served upon said parties respectively. 12. ASSIGNMENT OR SALE Purchaser shall not sell, assign, transfer or convey any interest in the subject property or this agreement, without first securing the written consent of the Seller. 5- Contract for Deed - ... 09~3746 000214 Seller may not sell, assign, transfer or convey any interest in the subject property or this agreement. 13. PREPAYMENT Purchaser(s) to have the right to prepay, without penalty, the whole or any part of the balance remaining unpaid on this contract at any time before the due date. 14. A TIORNEY FEES In the event of default, Purchaser shall pay to Seller, Seller's reasonable and actual attorneys' fees and expenses incurred by Seller in enforcement of any rights of Seller. All attorney fees shall be payable prior to Purchaser's being deemed to have corrected any such default. 15. LATE PAYMENT CHARGES If Purchaser shall fail to pay, within fifteen (15) days after due date, any installment due hereunder, Purchaser shall be required to pay an additional charge of five (5%) percent of the late installment. Such charge shall be paid to Seller at the time of payment of the past due installment. 16. CONVEYANCE OR MORTGAGE BY SELLER If the Seller's interest is now or hereafter encumbered by mortgage, the Seller covenants that Seller will meet the payments of principal and interest thereon as they mature and produce evidence thereof to the Purchaser upon demand. In the event the Seller shall default upon any such mortgage or land contract, the Purchaser shall have the right to do the acts or make the payments necessary to cure such default and shall be reimbursed for so doing by receiving, automatically, credit to this contract to apply on the payments due or to become due hereon. The Seller reserves the right to convey, his or her interest in the above described land and such conveyance hereof shall not be a cause for rescission but such conveyance shall be subject to the terms 6- Contract for Deed ~:. ~;¡;~~~~mmiliW] : :s~~::r::::::~;:~:: 1¡·:·t~·:?·~1~:j:·;·· . _·__._n.__.. 09237L\6 000215 of this agreement. The Seller may not, during the lifetime of this contract, place a mortgage on the premises above described, which shall be a lien on the premises, or may continue and renew any existiD.g mortgage thereon. 17. ENTIRE AGREEMENT This Agreement embodies and constitutes the entire understanding between the parties with respect to the transactions contemplated herein. All prior or contemporaneous agreements, understandings, representations, oral or written, are merged into this Agreement. 18. AMENDMENT-WAIVERS This Agreement shall not be modified, or amended except by an instrument in writing signed by all parties. No delay or failure on the part of any party hereto in exercising any right, power or privilege under this Agreement or under any other documents furnished in connection with or pursuant to this Agreement shall impair any such right, power or privilege or be construed as a waiver of any default or any acquiescence therein. No single or partial exercise of any such right, power or privilege shall preclude the further exercise of such right, power or privilege, or the exercise of any other right, power or privilege. No waiver shall be valid against any party hereto unless made in writing and signed by the party against whom enforcement of such waiver is sought and then only to the extent expressly specified therein. 19. SEVERABILITY If anyone or more of the provisions contained in this Agreement shall be held illegal or unenforceable by a court, no other provisions shall be affected by this holding. The parties intend that in the event one or more provisions of this agreement are declared invalid or unenforceable, the remaining provisions shall remain enforceable and this agreement shall be interpreted by a Court in 7- Contract for Deed ~. 10.. 0923746 000216 favor of survival of all remaining provisions. 20. HEADINGS Section heaclings contained in this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof. 21. PRONOUNS All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular, or plural, as the identity of the person or entity may require. As used in this agreement: (1) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender, (2) words in the singular shall mean and include the plural and vice versa, and (3) the word "may" gives sole discretion without any obligation to take any action. 22. JOINT AND SEVERAL LIABILITY All Purchasers, if more than one, covenants and agrees that their obligations and liability shall be joint and several. 23. PURCHASER'S RIGHT TO REINSTATE AFTER ACCELERATION If Purchaser defaults and the loan is accelerated, then Purchaser shall have the right of reinstatement as allowed under the laws of the State of Wyoming, provided that Purchaser: (a) pays Lender all sums which then would be due under this agreement as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; and (c) pays all expenses incurred in enforcing this agreement, including, but not limited to, reasonable attorneys' fees, and other fees incurred for the purpose of protecting Seller's interest in the Property and rights under this agreement. Seller may require that Purchaser pay such reinstatement sums and expenses in one or more of the following 8- Contract for Deed mill':+:':':':':~~ '.,1.. >':.'. '.. .'...\' ..~l ···:~;~~;~d~;';· "'" :¡:;r..,~::::::::;~:;: '·¡·'~"'··:t;~~<: I::~':;~i::f:;::~ ~:::*::~~;~::¡::: ::~ .........'............ '" . .......;.,~- .'''' '.,.--.~'- "- .....-..'.-.-...... 0923746 0002~7 forms, as selected by Seller: (a) cash, (b) money order, (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity or (d) Electronic Funds Transfer. 'Upon reinstatement by Purchaser, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. 24. HEIRS AND ASSIGNS This contract shall be binding upon and to the benefit of the heirs, administrators, executors, and assigns of the parties hereto. However, nothing herein shall authorize a transfer in violation of paragraph (12). WITNESS THE SIGNATURES of the Parties this the Jt. day of 1?çfvbelt ,20 Db . ¡;~ëZ;~ Rodney Craig Smith -Æ PURCHASER: U~ . stopher D. Abrams Leanne A. Smith ~~ Melanie A. L ~hûa~ - 9- Contract for Deed .. 10. '/" _..0.. L.., 000218 09~374f) STATE OF WYOMING COUNTY OF k r 1) lM..- The fOI:egoing instrument was acknowledged before me by ~ ~G:zt¡ f r· this_l¢daYOf~,~. Witness my hand and official seal. (S ~! /lJJJ1~ otary Public My Commission expires: ~ -Id--- ðüotï Printed Name: STATE OF WYOMING COUNTY OF U, ~ Ü) t ~ The foregoing instrument was acknowledged before me by c'~~yN,.\).~ ~l~-t ~1f"J1~thisJ~~ day of ()~ Witness my hand and official seal. , ðoo.b . (Sei~Ï) AMANDA E. WELCH - IÐTNW PUU: ")lJr~~·!.Jf &\ If ATE Of lI"IA.U~ _~ i UYC~II!;SQEXPIREI 'l'¡:)~lI' ~Y~lA~ Notary Public Printed Name: ~) EJVe,J cJ.. " My Commission expires: --1..,';)..-ãoO ? SeUer(s) Name aDd Address Name:Rodney Craig and Leanne A. Smith Address:l89 Circle Drive City:Afton State: WY Buyer(s) Name aDd Address Name:Christopher D. and Melanie A. Abrams Address:203 Circle Drive City: Afton Zip: 83 1 10 State: WY Zip:83110 - 10- Contract for Deed ." (:::~i:!:!~~:*::;:~! M..~MJ·~ì~·:·:~¡