HomeMy WebLinkAbout874182
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MORl'GAG,t;,
(ben>inafter "DEED OF TRUS1''')
COUNTY OF LlNCOLN
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KNOW ALL MEN BY THRSE PRESENTS
THE STATE Ol-' WYOMING
Dale: June 25. 2001
Mortgagors (hereinafter "Grantor"): DOUGLAS LAW'rON und wife, KI(lSTlN ANN LAWTON
(;rantor's MaUln2.t\dd('(lSS:
1243 Ilandman ROlld
.I. _ Thayne. wyoming 83127
,.--- /.JflJt IJI.JJ _ County. Wyoming
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"..U!tt(\(\: ARTHUR W. LANGBLOH, 1lI
Trustee'" MaUing AddrCli5:
1424 S' TIlird Street, Suitf;l A
Mubank, Te)l:J~ 75147
H"_ndenon County. Texas
MOltgagee (bet.cll1ut'ter "Benericlary"): A,Q. HALE, JR, IInd DEE ARLeNE HALE, CO-TRUSTEE Oil THE
A.D. HAl ,E. JR. REYOCABLE TRUST
nCllcfidllry's Moiling Addrl!Slt:
Rout~ 6. Box 610
Kenl?, .fexas 75143
Henderson Counly. Texa~
This mortgage 15 given to l;l!CUrc the following indcbtcdn~:
Nt,u.: ONE CERTAIN PROMJSSORY NOTE
D:ne: June 25. 2001
Amount: ONE HUNDRED THiRTY-NINE THOUSAND AND NO/tOO DOLL^RS ($139,000.00)
MakeI': DOUGLAS LAWTON and wife, KIUS'l'lN ANN LAWTON
pnyee: A.a. )-IALG., J~ ,mrl DRE ARLENE HALF., CO~TRlJSTl:m OF THE A.O. HALE, JR_
REVOCABLE TRUST
FilU\l Mllturity Dul": Jun~ 2S. 7.006
Grantor l>!omises to pay to th~ order of Reneficiary :ll the place for paYlnent and according to the terms of
puymo)llt the princlp-al amount plus iTlh~rel\1 ill the rates stated above. All unpaid amou[I\:S $halt be due by the Iinal
scheduled payment dale-
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10" jijiLEASE OF
1J1cd t 1 ,,(:0-//01/
'fa. Mort g~q;!;e
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874182
IQ~('EI'.,
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-lr1jCOUJ COUf'TY
.' ~ CLERK
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U8~~lt182,
William ~. Manning
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463
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\':IAGE - 2 - DEED OF TRUST GONT.
Pt.uperty (including any improvements):
Lot 140 of STAR VALLEY RANCH Plat 18, Lincnhl County, Wyoming a~ described on the official plat
thereof.
TOGI1TIIER WJTH all itnproVemCl'Il$ thereon, or hen;llfLer to be placed thereon, Ilnd all and singular
tbe l'lghts, hereditaments and appuncnances to the silme belollging or In anywise incidem ur i1llpel'tilil1il1~
and all euscmcms. rents, royalLiC$, mineral, oill\l:'Id gas rights and profits. water tights and stock and
all fill.IUfCl:I now or hereafll~T It part of the properly. All replacements, and additions shall also be
covered hereafter a pjlrl ur the property;
which has the address l)f 1243 lIandman Road, Thayne. WVOlltilll!. ~1121 ("Property Address.);
'nIls conveyaflCC is made in tn\st 10 sccure and l',nfOTCC Ihe payment of all indebtcdnc~!;\ of the Grantors to
Bcncticiary presently existing or which TTlay in any lllilnnCt or meansJlereatler be im:urrca by OrlllUors and
evidenced in any rn<'lllllel' whatsoever, either by notes, adv,mccs, overdrafts, bookkccping entries, or any othc;.r
method or means. il being expressly Iigrccd and undetsll.lod thaI any and all StlmlS nuw owed to or hercllllt;r
advanced by sttid heneticiary to Ule grlllUMS shall be payable <\t Kemp, Henderson Coullly, Texas, evicie'lCl;s of
indebtednc..'IS given by. the grantors h) saki benefidllry; ilnd [his instrumenl is also cxcculllu [or the purpose of
securinu; and ellforcing the payrtlcnt of any renewal and ex.tension of any no\.C, alld including any ti.lrthcr loan and
advancement lnade by said beIlcficialY to the gral'ltors of any note under lhc provision hereof. The fact of
repaymr::nl of all indebtednt::l;s or the grantors to said belleficialY shall nOI tcrrninate this mortgage un!elj$ the same
be so released hy said benefi.ciary at the request of the grantors; bul otherwil;c it shall remain in full ruree and effect
to secure all futliW-e advanceli and indebtedness, regardless of any addIlional securilY that may be taken as to any
past or future indebtedness, at~d shall be unnflcctl!d by any renewals, eltlensioll. or partial reh;allc:\ heI'eunder.
OtJltr Exccptions to Conveyance and Warranty:
Easemcnl.lS. rights-at-way and prescriptive rlgl1l6, whether of record or nol; all pl'esemly recorded rc~lrictll1ns,
reservation:s, covenants, condiliorts. 011 and gas lea~es, mineral seve:nU1CC, and other instrumems, olher than liens
and ('lll1V(~Y;\llcell. that affecl the propeny: rights of adjoining owner:s in llny walls and fences siluated on a common
l\(lllnl'illry, :my di~t:rcpal\cles. conflict!!. or shorra2es in IIrCll or boundal)' linell; <Iny cncroachments or overlapping
of hnproVelUtotll; taxes for 2001, lhc payment of whieh Grantor assumes; and sl,lb~equent assessmenls for that and
prior years due w change in land IlSlltC, ownership, or bOlh. the paymf'.nt of whieh Grantor as!llmcs.
FOR the pU'l'ose of securing thc indebtednESS herein desclibed, ami in CQl\sideration of Ihe !lUln of TEN
DOLLARS ($10 JIO) to us in hand paid by the Trustee hereillnamed. the receipt or which is hereby acknowledged,
and for the: further cOllsidernlil1tl l,f the \I~e. purpmll:ti aJld [rusts hercinallcr SCl forth. GnU1lo~ have granted, sold
and conveyed, and by Ihese I,resents do grllnl, sell and convey unto the Tl\lstee and hi!\ lluhslitUles or successors,
with lhe power ot sale, llll of the herein dC!lCrihed property.
TO HAVE AND TO HOLD the above d~cribed property, wgclher with the rightll, privileges and
appunenonccs tllCretO belonging unto the said Trul\tC<:, and to hili Sllbst\tules 01' sueceSSOl1i forever. And Gr(lntnn;
dQ bereby bind thllrt'l~01vK, their bdrw, l::~eeutors, aJminf~r"lItOl"!: lInd llll.'llgnx ill Wlifflllli mul I"rever defend the said
premises. unto the saId Trustee, his substitute or successors and l.\~lligns forever. againStlhc. claim. or claims, or all
persons Claiming or to claim the same or any part thereof.
"['his conveyuncc, however, ill made in Trusl \0 :jCcure payment of one (1) promissory nnte of even date
herewith.
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U~~ri14182
464
PAGE - 3 ~ DEED 01' TRUST CUNT,
Should Q\11nLors do and perform all of Lhe covenants lInd agl'eementll hf,."'rCin cOlltalned, and make prompt
payment of said illdebtedT1cs.~ lIS the same shall become due IlnClI>ayable; l11en 1,111S conveyance shill! hCL;UlIlt; Ilull
and void llJ\d no further 1~)J'Ce and effect, .arld shall be released at the cJl:pcnsc of Grantors, by the holder thereof,
hereinafter called B(:r)clkiary (whether one or more),
Gr-dnhH"S OOVCDllnt and agt'CC l18 fullows:
That they are lawfully seized of tmid pl"Opet1y, and havc the rtghl to convey Ihe same; that said (JIO(JClly ili
fr~ front aJllien~ llnd cncumbrances. CKcept all herein provided,
To pl"OteClthc dde and p08sc6Sioll af said property and to pay whcn due all taxes und assessmems now CXI/>;Llug
M hereafter levied or assessro lll)Oll said properly, or the lnlercl$t therein created by this Deed of Trust, and to
preserve hmJ maintain the lien hereby cre,llcd as a first and prior lielt on said property including- aDY improvements
her(,:aflcr made a part of the realty.
To keel> the irnprovemel\ts on said pro()crly in good re[lil.ir and conditil,lll, 8Jld not 10 pernli!l,If commit any
waste lhereof; to keep said building8 l,Iccupied so as nolto impa1r the Illsurance carried tberr;QIl.
To insure and keep insured all improvements nl,lw or hereafter created 11Jlon said property against loss OT
damage by fire and W;mMUl'Ill, hU&\l\1S included within the lerm "cAlcJ1dcd ctwer:tge. and :my nlllcr hazard or
ha7.Jlrds as 1llay be reasonably required, including floodl;i and nooding, from lime to time by BCheliciary during the
term of the indebloonuss hereby secured, to the eXlent of the originlllllrnou111 of the illdcblCdncs.~ hereby secured,
t)( to the e1l.tem of the full insurahle value of Slli(t improvements, whichever is the IC5ser, in such form and with such
Insurance Company or Comp8llies as may be approved by Beneficial)', Thi~ insurance shall be maintained in the
8mountK 8Jld for the p"Tiods that Beneficiary requires. The insurance carrier providing the insurance shall be chosen
by Grantor subject t.o Beneficiary's approval which shall not be unreasunahly withheld, II" Or8lltor fails to t1111intain
coverage described above, Beneficiary may, Dl Beneficiary's option, obtain coveragl: 1.0 prOtect Bendieiary's rights
in the propeny. All insurance 1lolicles ,md renewals shall b~ accL.'1>table to BeJ:lcficiary ~Uld shall include a standard
1110rtgllgC clause. BenefiCiary shall have Ule right \0 h(~ld the policiC'5 ltnd ~newals, If BcnMiclary requires.
Granlor shall promptly give to Beneficiary all receipu~ 1)[ paid premiums and ..tnewal noticCll. In the eVClll of loss,
OrantM shall give prompt notice 10 the insurance carrier and Bencliciary. Beneficiary may make proof" of lOllS if
nOl made prtlmpr[y hy Grantor. Unltas l3eneficiary lmd Grantor otherwise agree in wriling, insurance prooocds shall
be applied to ~storatioll or n.."ah' of the properlY damages, irUle restoration or ~Ilair Is economically feasible Imd
Beneficiary'$. !It'':I~lIrily lR nol lessened. U the restoration or l'e!>air is nOl economically fe<lSible l)l' Beneficiary's
security w(mld be lessened, the insurance proceeds shall be applied to rhe ~\III\S secured by thil;i Securit)' Instrument,
whether or not then due, with any excess paid 10 Grunl\)r. If Gralllor abandons the property, or does nolllMwer
within 30 days a notice rmm ReneficiaT)' that the insurance carrier hilS offered to settle a claim. then Beneficiary
may CQl\ect the ins\ll"llllce proceeds. Bcnetlclary tmlY use the procc;cd~ lo repair or rClllore Ihe properly or to pay
SU/Illl secured by this SccUl'ity Inslrumel1t, whether or not then due. The 30..tfay period witl begin when Ihe notice
ie gi\Jen. If the property is acquinld hy "enefieiary. Grantor's righllo any insurance pOlicies and proceeds resulling
fnll\l damage: to the propeny prior to the acquisition shall pllSti to Beneficiary 10 the extent of lhc, swns secured by
this Security Instrument imnlediately prior U) the acquisition.
GI'31ltOr hereby certlfles lhat UJl of the dlile of Closing there is in force hn1,.lml it\surance which covers any and
all haurdll deemed neL'e.~:W'y by nencficiary to proU:cl il:> illlcresl ill 11I~ prop!rty. In the eWJL( ll'I,.:IC are changes
in the insurCll1cll ooveras.. flil([ui\"l~d by BE'l'1(:~fi!\i~ry C,nmlor will notify Bencl1ciary immediately and will take
whatever action Is necessary to obtain and maimain ha:l..ard insllrancc coverage salisfllCtory to Beneficiary. If
GI1IntOT falls 10 obt;1in and maintain hu.at'd Ins\lTlmc.c coverage slItisl"llClory to Ben~ticjary, Grantor undcrstands thaL
8<lnCltlclm'y m..'\y l'Qrce place hll;r.llrd iIUUfallCl:' un lh~ property and pursuant to Ihe security in~lTUment, any Tn(Jncy
or fees advanced by Beneficiary will become additional debt secured by this Kccuri[y instrumel'lt.
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Jun 25 01 10:20a
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William C. Manning
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PAGE - 4 - D1:mD OF 'l'RUST CONT.
Or-mtol' agrcc:S to make an ini(illl deposit i1'l the amount of $ 857.52 and then monthly paymenls
to a fund for tU)l.C!'i and insurance prcfl\imns on the property. Monthly paymeml> willue lUC1\lc on the puynlent dalQll
specified in the note, and each paY~llt will be one~l'well\ll of the amount Ihat Beneficiary e~timates will be required
lmnually for payme'.Jl.l of taXe8 and ins\lnmcc premiums, The initial monthly paymelll$ will be in the amounI of
$.!.JQ..QQ. Tile fund will accrue 110 interest, and Beneficial)' will hold It withoUt boml iIl c:ll,;WW und use: it W (lay
the tllxes and in~urance premiums. If Grantor has complied with the requirement!! of this paragraph, BI;."'Ileficiary
mlll\t pay tuxes beforc delinquency, Gmntor agreell 10 make ildditional depollits on demand if the rund Is ever
insufficit.'1lt for its pul'pose. If an excess accumulaL(lS in the lunl1, I::Itnciicillry may eirher crolliL il LV future monlhl)'
deposits until the excess is cllhausted Of fefund \lto Gr<mlor. Before Gral\tor makes Ihe final paymel\l 0\1 the note,
:Beneficiary will credit LO that payntellt the whole amount then in the I\.md or, ilL Beneflciary\ OI>t!OIl. refund il after
lhe note is paid. If Ibis deed or IrUSt Is foreclosed, .my balance In Hie fUncl over that nee(lcll to pay (<1.,\\:1;, in\:"hldiJ1!',
taxes a(:cfu(ng bul not yet puyallle, and l~' pay insurance pmniums will be paid uuder "Trustee's DuLies" abovc_
If the property is Ir:lI\sferred, any balance then in the fund will still be subjecl to lhe provisions of Lhis paragraph
and will inure to the henefit vi' tlte transferee, Deposits to the fmld descnbC<:l in this pllragrapb are in i:ll.hlhiVll II)
the monthly payments provided for in Lhe note.
ThaL in the evenL Grantors shall failtQ keep the improvemenls on the property hereby conveyed in goml n:pltil
and condition, or to pay promplly wheIl due all taxes and assessments, M 1I1oresaid, or lO preserve the prior Iicn
of tbill Deed of Ttust on sliid property, 01' to lc~e\'l the buildings and improvclUenls insured, W$ aful'esaid, or to
de1ivCf the policy, or p<>licies, of iIl5Urance or the renewal thereof (0 Beneficiary. as aforesaid, lhen Beneficiar)'
may, at his oJltion, but without being required to do $0, make such l'cpalrto. Vay such (axel amI W$SC~Sll\enrs,
pll....~h:'l~e IIny tax title thereon, rcmove <lCY prior lienS, and prosecute or defend any suilS in relllli(lll to the
preservation of Ihe priot lien of lhis Deed of Trust 011 :said properly, or lnsure and keep ill~LU~d tbe Improvements
thereon in an amountllot to e)Ccccd that lIbMe stipulated; that any sums which may be so paid OUI by Beneficiary
:and all ~lIm~ pllid for InsuraIlce premiUm:ii, as aforesaid, including the COSlli, expenses lInd attorney'lS fees pail! in
any sui!, affectil1g said property when necessary to protect the lien hereof shall bear in(efCst from (hc dates at sucl\
payments at the rat.e stated in said note lInd shall be paid by Grun(Ot'S to Beneficiary upon demand, (tllhe same place
at whir.:h uid noll", i.:. Ilayah\c, and shull be deemed a pal.1 of the debt hereby secured lInd recoverable as such in all
respects .
GrlllllQr repre5e,l,l$ llnd waml.llts and covenants and il.p,rees thlll (I) Grantor has not tlsed and will nul use and,
10 the best of Grantor's knowledge, no priM awner or current or priOI' tenunl, subtenant, or olher occupant of all
01' any part of the ProperlY ha~ used or i~ using hll/.ardOUS material (3.8 th"l term is hereinafter defined) on, from
Of affectins Lhe Prop'my in aIlY m1nlll~I' ('hill, violatell (IllY laws pertaining to h:17.ardous mah':r'iuhl appllt;il)le 10
Grantor or Lt) tbe PrOpL'I'ty; (ii) III the best of Gl'alltor'll knowledge, no haz.,l.rdllUS materials have beeJ] disposed of
on the Prnperty llQr have any haurdol1s rrtatel'ill1s lnigl'.ued onlo \lIe Properly, in either event in vinlatioll of ,my
law,", pOmUl1ing ll.l huardo\l-~ It\:uerials. >It)fllicllhlc to Grantor or to the Prollel'ty; am) (iii) Grantor will not permIt
or suffer any such vlolatiu-n of any lilws pertaining to hazardous matenllb applicable lO Grantor or to the Property.
Itl the (,.'Vcnt that any iuvesti$aLion, Sil~1 monitnrillg, containment, clean-up, removal, restoration or other
remedial work of any kind or nature (hereinafter referred 10 as the "remedial work") is reql.lired under any laws
pertuining to hllzardous Tmu(:rials ilppl icable to Grantor or to lhe Property, becaUlle of, or in c(lnnection with, the
I,;U(j'~1ll or r"lure prc&cnOO, $u~pe~Lcld presenl.-c, re-leall-C tlr ~ll~pectc:d release of II hAZardous material in or about the
ak, soil, ground WIlIcr, surfacc water or soil val>Ot' Hi, on, abouL, under or within the Propeny (or any ponillll
thereof), Grantor l:ihall within Ule time pcl'iods r~quired by the applicablc laws pertllining to nll7.ard(}us m,lu::rials,
CUIUIUC:Ul,;l.;, mill tho;l"I::lll'tt:r diligently pl'...I,,~ute to complelion, nil sw:h remedial wotk. All rCnl.C(lI('l1 wnrk shall be
perfomlcd by conltaCtors rCJuonably nppl'oved in advance by Lender lInd under (he supervision of a consulting
e{lgineer reasQl1ably appr()ved by Lender. All costs and clI;pcs\ses of such remedial work 5hall be paid by Grantor
Indulliul>, without limilll.t1on, l.l,lrl<1er's l'e(lgm\;1ble :Il.tomeys' feCl\ 111\(\ r.n!ll~ incurred in connectioJ;l with moniLoring
or review of stich remedinl work. In Ihe enl1i Grantor sh,lIl rail to timel}' prosecute (0 completion sueh remedial
w~lrk, Lender may, but .~lIaU not hc I'equircd to, call~e p,uch rem{..-dial work to be perfun\\.ed and all costs and
e)lpeIlSI;;~ l1h~reof Ol' incurred in COllrn1Clil,ln Iherewilh, shall be iTllTnP.rliftwly due anti payable by Grantor 10 Lender
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PAGE - 5 - IJIit:iLJ 0'" TRUST CONT.
llnd shall becouw parl at" tbe indeblodn~~s.
Grantor shall provide 1..cllder with prompl written notice (u) V.P(ln Granlor's becoming "Wllre of any release
Of threat of release or liny hazardous mllterials upon, under or I'rom lite Property in viohltiun llr any laws pel1aining
to hazardol,ls matcriaLs appllcab1e to Gra.ntor or to Ih~ l'Il)PCrlY, (b) upon Oramor"/i n:CciPl of any uuli...,. fnllU an)'
fedcml, state, munkipal or other govemm~nlill agency or authoril)' in cmlncclion with any hll1.ilrdouS materials
located upon or under or emanating frl.lTll U\e Property; llnd (c) upon Grantor's oblnining knowledge of IIllY
IncUrretlce of ClIpellSe, tor wlw,:h t.lralllor or the property could be Hable, by any guvcrnrnemal ilgem;y VI ilLlLI1I1I il)'
in conncction with the assc:m~nt, containment or rC1l1lwal of any hazurdous materials located upon or under or
\,Iml:\nating from the property,
That in the cvent of default in VIe I):!l.yment of allY in5lltlhnelll,l,rlncipal or jnlerc~l, of the note hereby secured,
in accordance with the temu thcrc~(jf, 01' of a breach of any of the covenants heroin contained to be lJerlomled by
Gnmtl)fS, tben and in imy or such events Henel1ciary may elect, GranlUlO hereny expressly waiving pn:scnlInclIlllmJ
demand for payment, LO decLare the entire 1lrinclpal indebtednCSll hereby secured with all interCSl accrued thereoTl
and all other sums hereby secured immediately due and payallte, and In the evem of delaull on the payment of llaid
indebtedness wIlen due or declared due, It sllaLl thcreupon, ~lr at any time therClLner, be tIle duty of the Tru~u:c, ur
his successor or substitUl.e a.~ hel'ei11after provided, at the request or Beneficiary (whicb requc.~l is hereby
ct>ndusively prcsumed), 1,0 enforce this trusl; and after advenisillg the Lime, place and terms of the, sale of the above
described and conveyed property, then llubjecL to tlte lien hereM, and ellher personally {II" t\y agent give noLie~ of
l.he foreclosure and salc said property al public auction pursuanll.l) ~ 34-4-101 et seq. Wyolning Stat, 1977, and
otherwise complying with tbat statute, lhe Tl'Ustee shall sell lhe above described properlY. Lhen subject to the lil;n
hereof, at public auc.\.illn In accordance willi such noticl:S, 10 (he hIghest bidder for CllSh, l>elling all of tbe property
as an entirely l)r in such parcels 1I11 the Trustee aCling may elect, and make due CQnveyance to the PurchH$cr or
Purchallel'$, with general Wllrnmty binding GralttonJ. lheir heirs and assisns: IImI out of the money arising fr()Ifl such
SOlIe, U\e Trustee acting llhall pay first, all the expenses of advertishlg lhe salc and making the conveyance, including
a commission of five percelU (5 %) 10 himself, which commission shall be due and ()wing in addition to Ihc
suontey's fees provided for in said noLe, and tlten to Beneficiary lhe full amount of principal, interest, anorneY'/i
fees and olher charges due and unpaid 01\ said note and Ill! other indebtedness secured hereby, rendering the blllance
of the sales price, if any, to Gmmon, their heirs or a....~i8JlS: and the rccilllb ill lhe conveyance 10 Purella.llel' or
PurdlllliCrs shall be full and conclusive evidence of the troth of the mailer therein stated, and all prerequisites to said
lllllc nlllll be plcsumed to have boon pertormed. lUld such sale and COtlveY(\\l('.e shall he conclusive againlit Grantors,
their heirs t1nd assigns.
It is 88t.eOO tbat in Ihe event a foreclosure hcr~utlder should be comn1~I\ced by the Trustee, or his substinue
or successor, 8eneficiary [T1;IY at any time before the sale of said prop.,:rly direct the said Trustee LIl abandon the
sale, and may then institute lmil for the colleclilm of said note, and for the fmeclosure of Ihis Deed of TI'USt lien;
it ill further agreed thul if Bcnet'ic1lU"y should instiLute a SUil for the Ct,ll1cctilln thereof, lmd for B FMeclosure of Ihi~
Deed of 'frust lien, t,hlit he may at allY lime berore the entry of II Cinal judgment in said suil dismiss the same, llnd
r~quirl'i thl': Tnll:tee, his substitute or successor to selllhe prlJDl.'rly in accordance with the provisions of Lhis Deed
of Trust.
Bel1d1.~i$"y, ifhp. ill rhe highest bidder, shall b:lvc the tla,ht to purchase III arty sale of the property, and to have
the amount for which such property is sold credited on tbe debt then owing.
Rp,n.d'il~ilUY In any evenl is hereby authllrJ1.I.'Ill to appoint II sub.'itiluLC trustee, to nCl inHtead of the Truslee
named herein without other formality Lhan the designl1tion in writing of a lIuhslitute 0(' suc~sor tl"ustee; and the
authority hereby confer0:41 ~halt extend to the lippointment of other successor and substitulC trustees successively
unli1 Ule indebtedness "crr:hy ~nred hM been paid in fult. or ulull said property is sold hereunder, :It1d each
substitute trustee ahall succeed to aU of tht rights and powcrs of the original tmst.ce llamed hereio.
In the "\fl."rtt auy sale ill made ()f thp. 1\hove dcscribed propeny, or lIny portion thereof. u.nder lhe t~rms of this
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46 'j
PAGE - 6 - DEED Ur TRUST CQNT.
Deed of Trust, Grantors,their heirs und Ilssigns, shall forthwilh upon the making of slIch sale surrender and deliver
possessioD of I.he -property so sold to the I-'Urchasers at sll~h Sl)Ir.:, lInt! lnll\C evem ot' tllelr failure to do SI,I they shaH
thereupon from and after the milking sucb sale be lInd continue as tenants at will of such PlIrchm.ler, IIlld in the even!
of {heir failure to surrender possession of said properlY upon demand, the Purchaser, his heirs or assigns. shall be
entitled to instil,ULC l\I\d maintaln an action fot rOJ'cible detainer of suid pr~lpCrly il1tlie Justice of rhe Peace Coun
in the ]ulI{ice 13reclnct in which sllch property, or any pilTlthen:of, is situated,
It is agreed that the lien hereby created shall take precedence over $nd be a priM lien 10 any orher lIen Of any
character whether vendor's, wateri.tlman's or mechanic's lien hcrc;:imilicr crcaJ:ed on the above described property.
and in the event the proceeds of lhe indebtedness secured hereby liS :lCt forlh herein are used to puy off lInd salisl)-
any liens heretofore existing on said property, then Uel1ctlclary is, ilrld shall be, SUbrogated to all or the rightS, Hens
and remedies of the holdJ;:r of the illdebtedness so p:lid.
II is furlber agreed that if Grantofs, their heirs or assigns, whIle the owner or tile hereinabove described
propeny, shQuld commit an act of bankruptcy, 01' authorize the filing of a voluntary petition in bankruplcy, Uf
should an act of bankruptcy be coml'!'lilt~ and involunlllry proceedings instituted or threatened, or should the
properly hereinabove described be taken over by u Rcceiver Inr C7rantors, tllelr Ilelrs or aSSlgno, We note
hCl'cinabovt ueliCribe~1 5hllll, at the option of Dt.'ncHClllry, illllllctlialuly UCl:UUlC UUI: nnd poyoble, ond the aCling
Trustee lUay then proc\':cd W liell the same under the pnwisiolls oj' this Deed of Trust,
All fUrl her sccutity for the payment ()f the hereinabove described indebtcdne.'\s, Grantors hereby tTaJltllcr,
assign, and c()Ov~y unto Beneficiary llll reJ\lS issuing or to hereafter Ili:\UC from said real propeny, and in \.he CVL'Ilt
or any defaull in the payment of said note or hereunder, Bencficlary, his agem or reprc5cntalivc, is hereby
authorized, at his Oplion, to collect said rents, or ir ~uch properly Is vacant 10 rem lhe same, and collect the rents,
and apply the sume, lcss the I'easonable C08L:land expenses of collection thereof, tl) the paymem of said lien without
altering or aflu.:ting the priority of the lien created by this Deed of Trust in favor of any junior indebtednC>l>,
whether Ihen nulhlred or to mature in lhe tuture, and III such mariner all BcneflcialY may eJect. The collection of
said rents by Beneficiary shall not conslitute a waiver of his righllllo acceleraIe rhe mamrity of said indebtcdneslI
nor of hi6 rightll~ proceed with lhc enrol'cement of this Deed of Trust.
It Is agreed lhalan elltcnslon, or extension.'!, may be made of the lime of payment 0( all, or any pan, of lhe
indebtedness secured herebY, and that any parI of Lhe above described property may be released from this lien
wlth()ut altering or affccting the priority of the lien created by this Deed of Trust in favor of any junior
l"nc:nmhranc:er. mortgagee or purchaser. or any \)etsons acquirine. an interest in tile I)ropelty hereby COnvL'Ycd, or
any pan therCl)f; it being the intention of lhe parties hereto 10 prC,SCfVC lhis lien on the properly herein described
nod all improvements Ihereon, and Lhat may be hereafter conslrueted thereon, firtH and superior to any liens rhilt
ft'Il'l:ll ~ Illar:ed thereon, or that n\ay be fixed, !liven I\r irnl\l)sed by law thereon llfLL'r the execution of this instrument
notwithstanding any such extension of Ihe t.ime 01' payment, or tbe n;lea6e of a portion of said propl:,rty rrom this
Hell.
In Lhe event any ponion of the indebtedness heLl,:i,nab~lVe described cannot be lawl'ully $ec.ured by this Deed
of Trusllien on said real properlY, it is agreed thm the first 1)8yll1ents made on sllid jl,debtcdllCSlI shall be applied
to ',he di~char!e of [hat pOTlion of .;alrllnriehrednClls,
Beneficiary shall be entitled to receive any and ull sums which may become payable to Grantors for Lhe
~rl(lomnation of the hereinabove described re-al pwpl'-rly. nr ;l"y P;lM' thereof, lor public or Quasi-public ust:, or hy
virtue of l>rivate sale in lieu thereof, Md any sum.. which may be aWllrdcd or hecome payable to Granl.Onl for
damages caused by public works or conllLructial1 on or near the said property. All such sums arc hereby assigned
10 Benefi9-ilJry, who nlay, after dled\ll-'ting therefrom all eJlpl~nSl~" Ar,lllAlly inc:urred, including attorney's fees, release
saT{lC to Grantors (If apply the same to the reduction of the indebtedness hereby l;CCurOO, whether then matured or
III mature in the future, llr 1m allY money obligation hereunder, as .mtl in such mantleI' as Beneficiary nray elect.
Beneficiaxy sh:dl I\ll[ be, in any eVl:nl or cil'l:utnstilnces. lillbk nr ....,1l11.'ndhle for fllilurc I,() collect. or exercise
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G. !O;) ~-1 ..."ll' ~,~..)>
C.l tJ .It. ,,_1,....,
468
P^GF. . 7 . DEED OJ' TRUoS1" CON1'.
diligenCll ill the collectioll of, any ~uch sums,
Tbe plIrtil:S intend lO confonn ~,ricl1y to the applicable usury l<lwg, All agreements between lender and
Borrower (or any other partY liable with ~pect to any indebIOl.lnc~~ under the Loan Documents) are hereby limitcd
by the provisions of this plU1l.graph which shall override lInd emlLrollllllll1ch llgn:~m:lItll, who;thcl IIUW ..".still!!, Oi
hereafter arilling and whether wriuen or onL [n no way, \lOt' in any event or comingeney (inCluding but llot limited
10 prepayment, default, demand for payment, or acceleration of lhc tnll1urity of an)' Obligations or any part Ihereol).
sllal! Ule interest eon.trilel,cd for, ellat'ged or recelvc(t under lhc NlllC ur Ulhl;:rwise I;:II.C~~V lhl:' llHl"illlUlll am'1l1m
permissible undl.'T applicable law. If, from nny possible construction of any doeu.mem. inu.'TCst would otherwise
be payable to ktldcr in excess of the muximunl lawful amount, any I:mch conIl11l1Clil,lt\ shall be subject to the
provistons of this paragraph and such docuTnCtll sl\all be autOmatiCally reformed lInd Lhu 111lCru5t )layabl~ (U \cmkl
shall b~ ilutoma.tically reduced to the mllximl1111 amount permitled under applicllblc law. without the necessity of
executi(m of mlY amendment or new document. If lender shall ev~ rCCl:ivc anything of value which Is characterized
liS interest under applicable law nnd Wlllel) would apan from IbIs prOViSion be In excess 01' the maxImum lawl\11
amount, an amount eqW1110 the anlOum which woutd have been ex.cessive imerest shall. without pc;nullY, be applied
to the reduction Mllie principal amount owing in the inverse order of its maturity al1d nOllO the paynlent of interest,
or refunded to Borrower to the e;x;\tmltha1 the amount which would have Qccn excessiVe intereSt exceeds unptli(l
pri/\cipaL The tight to accelerate matul'ity of the NOlt: or <tny othcr indebtedness docs not include tbe right. III
accelel'ate any interest which has t\ot otherwise accrued on the date of such acceleration, and lender doc.~ not intend
to charge or w;:ll:ivc any unearned imerestlll the eveTlt of acceleration. All Interest paid or agreed to be paid ro
lender shall, \l1lhc: extent permitted by applicable law, be amortized, prord~d, IllloCillCcl and spread throughout the
full suucu lcrrn (inclUding any renewal ~w cxtension) of such lndtbtcdm:ss so \hallhc amowlt ot interest on accOllIlt
of such in(\el:>Cedness does Il0t exceed \he maximum pemlitted by applkllblc law.
If this Deed of Trust is execulcd by ~mly one person or by a (,'Orporalion Ihe plural reference to Oralllors shllll
be held to include the singular, and all of the covenants and agrccmenLS herein ulldertakcn to be performed by :md
thc rightS conferred upon the TCtlpcclive Gralllors named bcrdn, ~hall be binding upon and inure 1(1 the benefit of
not only said parties rcspCClivCly, but also their respcc1ivc hcirs, ex.ecutors, administratoTs. gnml,ees, successors and
assigns ,
If (irll1UOI' l1'allsfers any plln (If the l)J'opel1y witholll Benefiellny's prior wl.Hten consent, Ikm::ficiary may
d~claTC lhe debt secured by this deed of trust immediately payable. In thaI event Beneficiary will nolily GrantM
that the debt is payable; if it is nol paid within thiny (30) dilY~ after 110tice to Grantor, Beneficiary mllY without
turther l1oli~u {)r UUllllilullo Grantur i\1v(lI{~ any remedies provided in this deed of trusll~!r default. It the Plll1JCll)'
is residential real property containing less thatt five dwelling units or Il TCsidential manufactured home occupied by
Grantor, exceptions to this pTOvision ate limited to (n) a suoonlinale lien 01' ellcumbrance that does nOltransfer
rillht~ of occupancy of th~ property; (b) Ct"Catioll of a purchase-money security Interest for household applialtce.,;
(e) transfer by devise, descenL, or operation of law 0/1 lhc (tcath of a oo-Gt'antor: (d) grailt of II ICllschold Interest
of three years or less without a.n option to purchmsc;; (e) trilllsfer to a spouse or children of Grantor or between
co.Grantors: (0 trunsfcr to a relatlve of Grantor on Grantor's death; and (,,) transfer to an inter vivos trust in which
Grantor is or remainll a bcneficiary and occupant of the Pmpet1y_
The Note sccured hereby is specHically tnadc non-assumable withouIlhc prior written consent of A,a. HAI.F.,
lR, REVOCABLE TRUST,
The indchtool1e~s. the payment of which is hereby secured. is in pari pn)'mCI1l ()f tile purchase price of the rual
propeny herein described, and is also secured by II vendor's liel1lhereOlll"etained In dced of even date herewith to
the undensigncd, aJ\d tbls Deed of Trust is given as additlonal SeettnlY fvr lhe payment of said indebtt:dn'-"\;s.
Grantor ngrces 10 pay all properlY taxes and otber assessments when due and pl'ior to the same bc<:oming
delinquent, pTI)vi(ling proof of AAme to hOlllcr of paid tax receipts from all tax.ing entities.
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Jun 25 01 10:238
William c. Mannin~
803 887 BB81
p.20
u ~r, l.\'1t1~
469
PAC,H~. 8 - D~ED OF TRUST CONT.
"TbUi written loan agreement repr~nts the final agret'flll!ntbetwl.'en the partll:!> and may not be
conl.-adicted by evidencl! (If prlo~, COlltcmpolllncous or lI'uhscquent tJn'll agrectnl:nlS of tbe p4oIrtits, "
"Th6e arc 110 unwritten oral ag{'een1ents betwun the parties. II
EXECUTED this _I-L- day at JUlIe, 2001.
I lit-
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. Iiir.~~
KRIST ANN LAWTON
'l'HE STAT~ OF WYOMING ~
~ / *
COUNTY Or: J..:eJ:J!fL *
THIS In9trun'1l::nt was acknowledged before me 1)I\ the" ;?&~ay of June, 2001. by DOUGLAS LAWTON
and wife. KRISTIN ANN LAWTON.
socre/~&I~ S8Jldx3 UOISSIWWO:> ^W
DUIWO~M U019l
JO 8lillS 10 Nuno:>
(mSnd A~'d!ON - l:I3'T1IW .r 'dWl:IV:J
~
Notary Public, Slate of Wyoming
AFl'l!R RP.CORDING RETURN TO:
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