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HomeMy WebLinkAbout925841 "t')' . ¡ i,", ¡~.~~. Iii",': ;, . I u.."EIVED 1/5/2007 at 11 :21 AM RECEIVING # 925841 BOOK: 645 PAGE: 553 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY rOSS3 When recorded, return to: Speedy Release Bail Bonds 130 NAsh St Ste 105 Casper, WY 82601 Eric Overlie 130 NAsh St. Ste, 105 Casper. WY 82601 (800)564-8898 Preparer Address Telephone Number REAL ESTATE MORTGAGE - WYOMING (To secure initial mortgage note - Also future loans and advances to the extent permitted by the Code of this State) THIS INDENTURE made this 29th day of December, A.D. 2006 between Michael R. Decker AND Debra M. Decker, Husband and Wife as Tenants by the Entireties, Mortgagors, of the County of Lincoln, and the State of Wyoming, and Speedy Release Bail Bonds, Mortgagee of the County of Natrona and the State of Wyoming, WITNESSETH: That the said Mortgagors, in consideration of any and all liabilities to Speedy Release Bail Bonds arising from this Company's posting of a $10,000.00 bond in the case of State of Wyoming vs, Torey Price (Defendant) in Natrona Co., Case# 17164-C ; Zero DOLLARS ($0.00) loaned by Mortgagee, and evidenced by the promissory note of even date herewith and such additional loans or advances at the option of the Mortgagee referred to in Paragraph 1 below, do, by these presents MORTGAGE, WARRANT, GRANT, BARGAIN, SELL, ASSIGN, TRANSFER, AND CONVEY, with statutory POWER OF ADVERTISEMENT AND SALE being expressly given, unto the said Mortgagee Speedy Release Bail Bonds, following described Real Estate situated in the County of Lincoln, State of Wyoming, to-wit: Lots 7 and 8 of Block 2 of the Second Amended Plat of the Birch Creek Commercial Park to the Town of LaBarge, Lincoln County, Wyoming as described on the official plat No. 286 filed June 24, 1985 as Instrument No. 587719 of the records of the Lincoln County Clerk together with all personal property that may integrally belong to, or be or hereafter become an integral part of said real estate, and whether attached or detached (such as light fixtures, shades, rods, blinds, Venetian blinds, awnings, storm windows, storm doors, screens, linoleum. water heater, water softener, automatic heating equipment and other attached fixtures) and hereby granting, conveying and mortgaging also all of the easements, servient estates appurtenant thereto, rents, issues, uses, profits and right to possession of said real estate, and all crops raised thereon from now until the debt secured thereby shall be paid in full. As to any such personal property or fixtures, or both, a Security Interest hereby attaches thereto, as provided by the Uniform Commercial Code. Said Mortgagors hereby covenant with Mortgagee, or successor in interest, that said Mortgagors hold clear title to said personal property, and title in fee simple to said real estate; that they have good and lawful authority to sell, convey and mortgage the same; that said premises are Free and Clear of all Liens and Encumbrances whatsoever except as maybe above slated; and said Mortgagors Covenant to Warrant and defend the said premises and the said personal property, against the lawful claims of all persons whomsoever, except as may be above, Each of the undersigned hereby relinquishes all homestead rights in and to the above described premises and waives all rights of exemption, as to any of said property, I(WE) UNDERSTAND THAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE, AND THAT BY SIGNING THIS CONTRACT (MORTGAGE), I (WE)VOLUNTARILY GIVE UP MY(OUR) RIGHT TO THIS PROTECTION FOR THIS PROPERTY WITH RESPECT TO CLAIMS BASED UPON THIS CONTRACT (MORTGAGE). CONDITIONED HOWEVER, That if said Mortgagors shall payor cause to be paid to said Mortgagees, or his (its) successors, or assigns; said sum of money which shall be legal tender in payment of all debts and dues, public and private, at time of payment, all at the time, place, and upon the terms provided by one (1) promissory note of Mortgagors to Mortgagee, of even date herewith, and as may be supplemented by loans under Paragraph 1 below, and shall perform the other provisions hereof, then these presents will be void, otherwise to remain in full force and effect. 1, NOTICE: THIS MORTGAGE SECURES (maximum) CREDIT IN THE AMOUNT OF $10,000.00, LOANS AND ADVANCES UP TO THIS AMOUNT TOGETHER WITH INTEREST ARE SENIOR TO INDEBTEDNESS TO OTHER CREDITORS UNDER SUBSEQUENTLY RECORDED OR FILED MORTGAGES AND LIENS, Mortgagee is hereby given authority to make such loans and advances to Mortgagors upon their signed order or receipt and secured by the original obligation herein, THIS PARAGRAPH SHALL NOT CONSTITUTE A COMMITMENT TO MAKE ADDITIONAL LOANS OR ADVANCES IN ANY AMOUNT, The foregoing limitation upon the total amount of principal loans and advances shall not be considered as limiting the amounts secured héreby if for accruing interest or for any amount for any protective disbursement advanced, or that may be taxed as costs to protect the security for loans or loans made in accordance with the terms and provisions contained in this Mortgage, 2, TAXES. Mortgagors shall pay each installment of all taxes and special assessments of every kind, now or hereafter levied against said property, or any part thereof before same become delinquent, without notice or demand; and shall, when available, procure and deliver to said Mortgagee, duplicate receipts of the proper officers for the payment of all such taxes, and assessments then due, 3. INSURANCE, Mortgagors shall keep in force insurance, premiums therefor to be prepaid without notice or demand against loss by fire tornado or other hazards, casualties and contingencies as Mortgagee may require on personal property as herein referred to, and on all buildings and improvements, in companies to be approved by Mortgagee in an amount not less than the full insurable value of such personal property and improvements or not less than the unpaid balance herein, whichever amount is smaller, with such insurance payable to Mortgagors and Mortgagees, as their interest may appear. Mortgagors shall promptly deposit such policies with proper riders with the Mortgagee, 4. REPAIRS TO PROPERTY. Mortgagors shall keep the buildings and other improvements on said premises in as good repair and condition as same may now or are hereafter placed, ordinary wear and tear excepted; and shall not suffer or commit waste on or to said security. 5, ATTORNEY'S FEES. In case of any action, or in any proceedings in any court to collect any sums payable or secured by this mortgage, or to protect the lien or title herein of the Mortgagee, or in any other case permitted by law in which attorney fees may be collected from Mortgagors, or ,h"ged "PO" the '.0'"' d..,rtbed p<operty, Mort,.,o", "",e to pay ''''o",.~ ..ome, # ~ ~ f/!¡{) " ...._. If-. -·0925841 000554 6, CONTINUATION OF ABSTRACT, In event of any default herein by Mortgagor, Mortgagee may, at the expense of Mortgagors, procure an abstract of title, or continuation thereof, for said premises, and charge and add to the mortgage debt the cost of such abstract or continuation with interest upon such expense at the highest legal rate applicable to a natural person; or if the Mortgagor is a corporation, then at the default rate provided in the note secured hereby, 7, ADVANCES OPTIONAL WITH MORTGAGEE. It is expressly understood and agreed that if the insurance above provided for is not promptly effected, or if the taxes or special assessments assessed against said property shall become delinquent, Mortgagee (whether electing to declare the whole mortgage due and collectible or not), may (but need not) effect the insurance above provided for, and need not, but may and is hereby authorized to pay said taxes and special assessments (irregularities in the levy or assessment of said taxes being expressly waived), and all such payments with interest thereon at the highest legal rate applicable to a natural person (or if the Mortgagor is a corporation, then at the default rate provided in the note secured hereby) from time of payment shall be a lien against said premises. 8, DEFAULT. (a) (b) (c) (d) (e) (f) (g) (h) (i) The terms "Event of Default" or "default" as used hereinafter and hereinbefore shall mean the occurrence of any of the following events: Any act of the "Defendant" named in the "Indemnification and Hold Harmless Agreement" and "Promissory Note" given by the Mortgagor, of even date herewith, which results in the forfeiture of part or all of the bond posted by Mortgagee on behalf of that Defendant. A failure to make due and punctual payment under the Promissory Note as set forth therein or the failure to make due and punctual payment of any other Indebtedness secured hereby, or any part thereof, as the same shall become due and payable, whether at maturity or whether accelerated pursuant to any power of acceleration contained in the Debt Agreement or contained in any instrument evidencing and governing any Indebtedness secured hereby; Any warranty or representation made herein or in the Debt Agreement shall prove to be untrue in any material respect; The failure to perform or observe faithfully and punctually any of the covenants, agreements, and obligations hereunder, or in the Debt Agreement; Mortgagor shall (i) become insolvent, (ii) generally fail to pay, or admit in writing its inability to pay, debts as they become due, (iii) make a general assignment for the benefit of creditors, (iv) have a trustee, receiver, or other custodian appointed for Mortgagor or any property thereof, or (v) commence, or have commenced against it, any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law; Any of the Premises shall be seized or taken by any governmental or similar authority, or any order of attachment, garnishment, or other writ shall be issued, or any other lawful creditor's remedy shall be exercised, resulting in the Premises going into a foreclosure sale; Mortgagor shall fail to maintain the lien and priority of this instrument as against any person or entity; The title of Mortgagor to the Premises or any substantial part thereof shall become the subject matter of litigation which would or might, in Mortgagee's opinion, upon final determination results in substantial impairment or loss of the security provided by this instrument; or The failure to keep the Premises insured as required herein; or shall fail to provide Mortgagee with evidence of insurance as required herein, 9, ACCELERATION; REMEDIES; APPOINTMENT OF RECEIVER. In order to exercise any remedies following an Event of Default, Mortgagee ,shall give written notice to Mortgagor advising of the default and specifically demanding payment or, if a default involves a breach other than one curable by the payment of money, describing what must be done to cure that default. If Mortgagor fails, within 30 days following the date such notice is given (notice will be deemed given when placed in the United States Mail, addressed to Mortgagor at its last address furnished to Mortgagee), to make any payment demanded, or, if the default involves a breach other than one curable by the payment of money, to reasonably and immediately undertake to cure such default in a reasonable and expeditious manner, then Mortgagee shall have the right, without further notice to the Mortgagor to accelerate the whole Indebtedness and treat the same as being immediately due and payable forthwith, and Mortgagee may proceed to foreclose this Mortgage either by advertisement and sale of the Premises as provided and permitted by the Wyoming statutes, with statutory POWER OF ADVERTISEMENT AND SALE being expressly given, or by an action in equity or at law. Out of the proceeds of any foreclosure sale, whether foreclosure by advertisement and sale or by judicial proceeding, Mortgagee shall retain or receive all sums due to it hereunder, including the costs of foreclosure and sale, including attorney's fees in a reasonable amount. All excess funds shall be paid according to Wyoming Law, In addition to the remedies otherwise provided for in this Mortgage and by law, and as a matter of right, without regard to the solvency or insolvency of Mortgagor, the value of the Premises, or the sufficiency thereof to discharge the Indebtedness and costs of foreclosure and sale, Mortgagee shall be entitled to a receiver for the Premises and the rents, issues, and profits thereof from the time of the occurrence of an Event of Default to the expiration of any redemption period as provided by law, Such receiver may be appointed by any court of competent jurisdiction upon ex parte application, without notice, notice being hereby waived and the appointment of a receiver upon such application being hereby consented by Mortgagor. 10, IT IS EXPRESSLY UNDERSTOOD AND AGREED, but subject to the relevant provisions of the Wyoming Statutes that if the Mortgagors shall convey the real estate described herein or any part thereof to persons other than the Mortgagors, or if the title thereto shall become vested in any person or persons other than the Mortgagors in any manner whatsoever, then and in every such case the entire balance owing under this Mortgage and the note it secures shall, at the option of the Lender be and become immediately due and payable, 11, FINAL PAYMENT, The date of the final payment of the obligations herein is due upon demand after notice. 12, The address of the Mortgagee is 130 North Ash Street Suite105 Casper, Wyoming 82601, If¿ -21-[)q 13, Mortgagor(s) acknowledges receipt of a fully completed copy of this instrument. IN WITNESS WHEREOF, said Mortgagors have et their hands the day and year first above written, namely; J -;2--- 29- v>þ O , (To be dated by Mortgagors) J{~L e,/.{M, < rYI ' j)~lêr1 (Mortgagor) Debra M. ecker State of Wyoming ) )ss. County of Natrona ) On this 29'10 day of December ,A.D. 2006 personally appeared Michael R. Decker and Debra R. Decker_,Mortgagor(s), and pledged that he/she does with tùll authority execute this instrument as Mortgagor, that he/she has read and understands the contents of the foregoing document, and that he/she is to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledges that he/she executed the same as the vol ary and free act and deed of the Mortgagor. .. Notary Public NOTARY PUBLIC ERIC OVERLIE STATE OF WYOMING COUNTY OF NATRONA f'.x I Dee 16 2 ,,'.