HomeMy WebLinkAbout931185
6010r -- - .
"" ~O?~(/.(:r. 1'1
.f>' ~.'!jl........ft.J
MORTGAGE
THIS MORTGAGE, -made this ~y of - ~ . 2007, between
Am~N~M. MARTINEZ and TAMEY S. PETERNAL ARTINEZ, husband and wife, of
J I (')~ St , Kemmerer, Lincoln County, Wyoming 83101, hereinafter
referred to as the "Mortgagors", and D J'S HOLDINGS, INC., a Wyoming corporation, of 3700
Highway 374, Green River, Sweetwater County, Wyoming 82935, hereinafter referred to as the
"Mortgagee" .
The Mortgagors for and in consideration of the sum of One Hundred Eighty Thousand and
No/lOO Dollars ($180,000.00), lawful money of the United States, paid to the Mortgagors by the
Mortgagee, the receipt of which is hereby confessed and acknowledged, do hereby grant, bargain,
sell and convey to the Mortgagee forever, the following described real and personal property situated
in Sweetwater County, Wyoming:
Diamondville Original Town, Block Eight (8), Lots One (1) through Eight (8), East
97 feet,
Together with all buildings and improvements thereon, Or which may hereafter be placed thereon;
all fixtures now or hereafter attached to said premises; all water and water rights, ditches and ditch
rights, reservoirs and reservoir rights, and irrigation and drainage rights; and all easements,
appurtenances and incidents now or hereafter belonging or appertaining thereto; subject, however,
to all conditions, easements1 and rights-of-way, and to mineral, mining and other exceptions,
reservations and conditions of record.
TO HAVE AND TO HOLD the said real and personal property forever, the Mortgagors
hereby relinquishing and waiving all rights under and by virtue of the homestead exemption laws
of the State of Wyoming.
Mortgagors covenant that at the signing and delivery of this Mortgage, said Mortgagors are
lawfully possessed of said personal property; is lawfully seized in fee simple of said real property,
or have such other estate as is stated herein; have good and lawful right to mortgage, sell and convey
all of said property; and warrant and will defend the title to all of said property against all lawful
claims and demands, and that the same is free from all encumbrances.
This Mortgage is not assumable by any other party or parties unless agreed to, in writing, by
the Mortgagee.
However, this Mortgage is subject to the express condition that if the Mortgagors pay, or
cause to be paid, to the Mortgagee the sum of One Hundred Eighty Thousand and Noll 00 Dollars
($180,000.00), together with interest thereon at the rate of six percent (6%) per annum from the 30th
day of June, 2007, until paid, according to the conditions of one promissory note, dated June 30,
2007, the ultimate maturity date of which is June 30,2031, which promissory note was executed and
delivered by Anthony M. Martinez and Tamey S. Petemal Martinez to the Mortgagee, which sum
or sums of money the Mortgagors hereby covenant to pay, and until such payment, perfonns all of
the covenants and agreements herein to be perfonned by Mortgagors, then this Mortgage and said
note shall cease and be null and void.
Mortgagors and Mortgagee further covenant and agree as follows:
1. Mortgagors shall pay the indebtedness as herein provided, and the lien of this
instrument shall remain in full force and effect during any postponement or extension of the time of
payment of any part of the indebtedness secured hereby.
2.
property.
Mortgagors shall pay all taxes and assessments levied or assessed against said
- 1 -
RECEIVED 7/11/2007 at 2:59 PM
RECEIVING # 931185
BOOK: 665 PAGE: 359
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
J foe)
3. Mortgagors shall not commit or pennit waste, nor be negligent in the care of said
property, and shall maintain the same in as good condition as at present, reasonable wear and tear
excepted, and will do nothing on or in connection with said property which may impair the security
of the Mortgagee hereunder. Mortgagors shall not pennit said property, or any part thereof, to be
levied upon or attached in any legal or equitable proceeding, and shall not, except with the consent
in writing of the Mortgagee, or as is otherwise provided and permitted in this Mortgage, remove or
attempt to remove said improvements or personal property, or any part thereof, from the premises
on which the same are situated.
4. As collateral and further security for the payment of the indebtedness hereby secured,
Mortgagors shall keep the improvements now existing or hereinafter erected on said premises
insured against loss by fire, with extended coverage provisions, in a sum not less than the
replacement value thereof, fq! the tenn of this Mortgage" and will pay when due all premiums on
such insurance. All insurance shall be carried in responsible insurance companies and the policies
and renewals thereof shall have attached thereto loss payable clauses in favor of the Mortgagee. The
insurance proceeds, or any part thereof, may, at the option of the Mortgagee, be applied either to the
reduction of the indebtedness hereby secured or paid to the Mortgagors.
5. If Mortgagors default in the payment of the taxes, assessments or other lawful charges
or fail to keep the improvements on said premises insured as herein provided, the Mortgagee may
make such repairs as may be necessary to protect the property, all at the expense of the Mortgagors.
The Mortgagors covenant and agree that all such sums of money so expended, together with all costs
of enforcement or foreclasure, and a reasonable attorney fee, shall be added to the debt hereby
secured, and agree to repay the same and all expenses so incurred by the Mortgagee, with interest
thereon from the date of payÌnent at the same rate as provided in the note hereby secured, until
repaid, and the same shall be a lien on all of said property and be secured by this Mortgage.
6. If the Mortgagors default in the payment of the indebtedness hereby secured, or of
any part or installment of principal or interest, for a period of fifteen (15) days after the same shall
become. due and payable, or if the Mortgagors remove or attempt to remove any of said
improvements or personal property contrary to the provisions of this Mortgage, 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, become immediately due and payable, anything herein or in
said note to the contrary notWithstanding, and failure to exercise ~aid option shall not constitute a
waiver of the right to exercise the same in the event of any subsequent default. The Mortgagee may
enforce the provisions of, or foreclose, this Mortgage by any appropriate suit, action or proceeding
at law or in equity, and cause to be executed and delivered to the purchaser or purchasers at any
foreclosure sale a proper deed of conveyance of the prøperty so sold. The Mortgagors agree to pay
all costs of enforcement or foreclosure, including a reasonable attorney fee. The failure of the
Mortgagee to promptly foreclose upon a default shall not prejudice any right of said Mortgagee to
foreclose thereafter during the continuance of such default or right to foreclose in case of further
default or defaults. The net proceeds from such sale shall be applied to the payment of (1 st) the costs
and expenses of the foreclosure and sale, including a reasonable attorney fee, and all moneys
expended or advanced by the Mortgagee pursuant to the provisions of this Mortgage; (2nd) all
unpaid taxes, assessments, claims and liens on said property, which are superior to the lien hereof;
(3rd) the balance due Mortgagee on account of principal and interest on the indebtedness hereby
secured; and the surplus, if any, shall be paid to the Mortgagors.
7. If the property described herein is sold under foreclosure and the proceeds are
insufficient to pay the total indebtedness hereby secured, the Mortgagors executing the note or notes
for which this Mortgage is security shall be personally bound to pay the unpaid balance and the
Mortgagee shall be entitled to a deficiency judgment.
8. If the right of foreclosure accrues as a result of any default hereunder, the Mortgagee
shall at once become entitled to exclusive possession, use and enjoyment of all property aforesaid,
l
- 2 -
~I
and to all rents, issues and profits thereof, trom the accruing of such right and during the pendency
of foreclosure proceeds and tþe period of redemption, and such possession, rents, issues and profits
shall be delivered immediatèly to the Mortgagee on request. On refusal, the delivery of such
possession, rents, issues and profits may be enforced by the Mortgagee by any appropriate suit,
action, or proceeding. Mortgagee shall be entitled to a Receiver for said property and all rents, issues
and profits thereof, after any such default, including the time covered by foreclosure proceedings and
the period of redemption, and without regard to the solvency or insolvency of the Mortgagors, or the
then owner of said property, and without regard to the value of said property, or the sufficiency
thereof to discharge the mortgage debt and foreclosure costs, fees and expense. Such Receiver may
be appointed by any court of competent jurisdiction upon ex parte application, notice being hereby
expressly waived, and the appointment of any such Receiver on any such application without notice
is hereby consented to by the Mortgagors. All rents, issues and profits, income and revenue of said
property shall be applied by such Receiver according to law and the orders and directions of the
court.
9. The acceptanc.e of this Mortgage, and the note or notes it secures, by the Mortgagee
shall be acceptance of the tenns and conditions contained therein; and a duly executed and delivered
release of this Mortgage by anyone or more of the Mortgagees shall be a valid and effective release
as to all of said Mortgagees, and of said Mortgage.
10. The covenants herein contained shall bind, and the benefits and advantages shall
inure to, the respective heirs, devisees, legatees, executors, administrators, successors, and assigns
of the parties hereto. Whenever used the singular nwuber shall include the plural, the plural the
singular, and the use of any g9nder shall include all genders. The tenns "foreclosure", as used herein,
shall include the right of forèclosure by any suit, action or proceeding at law or in equity, or by
advertisement and sale of said premises, or in any other manner now or hereafter provided by
Wyoming Statutes, including the power to sell.
IN WITNESS WHEREOF, this Mortgage has been executed by the Mortgagors the date fJrst
above written.
......~....."'.
~~~ifii}
The State of Wyoming )
ss.
County of Lincoln )
On thiš ~-ê-day of tfeWl.l. , 2007, before me personally appeared
Anthony M. Martinez and Tamey S. eternal Martinez, husband and wife, to me known to be the
persons who signed the foregoing instrwnent.
- 3 -
Given under my hand and seal the date first above written.
My commission expires:
q /";)D 1'àCO':1-_
~~
otary ublic
DONNA BOOTH . NOTARY PUBLIC
COUNTY OF STIHE OF
LINCOLN WYOMING
MY COMMISSION EXPlllES SEPT. 20, 2007