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HomeMy WebLinkAbout932916 Oû0440 MORTGAGE DEED WITH RELEASE OF HOMESTEAD KNOW ALL MEN BY THESE PRESENTS, that Don George Linford and Maria Carmem Ferreira Linford, husband and wife, (hereinafter designated as "Mortgagor"), of Afton, Wyoming, Lincoln County, State of Wyoming, to secure the payment of the principal sum of One Hundred and Sixty-Five Thousand Six Hundred Twenty Four Dollars $(165,624.00) , with interest commencing September 1,2007, at Six Percent (6%) per annum, as evidenced by a promissory note of even date herewith to the order of the George L. Linford Family Revocable Trust, dated August 24,2004, George L. Linford and Linda B. Linford, Trustees, of PO Box 28, Fairview, WY 83119, Lincoln County, Wyoming of Afton, Lincoln County, Wyoming, (hereinafter designated as "Mortgagee,") principal and interest payable as follows: The payments shall be paid as set forth on the Promissory Note of even date herewith. The Mortgagor's do hereby mortgage to said Mortgagee, the following described real estate, situated in the County of Lincoln, State of Wyoming, to-wit: See description attached hereto and marked as Exhibit A, a copy of which is attached hereto marked Exhibit "A" and by this reference made a part hereof. 31 {ij i TOGETHER WITH all improvements, appurtenances, hereditaments and all other things thereunto belonging or in anywise appertaining. SUBJECT, HOWEVER, to all easements, rights-of-way, reservations and restrictions now of record or otherwise affecting said lands. Including all buildings and improvements thereon (or that may hereafter be erected thereon); together with hereditaments and appurtenances and all other rights thereunto belonging, or in anywise now or hereafter appertaining, and the reversion and reversions, remainder and remainders, rents, issues, and profits thereof, and all plumbing, heating and lighting fixtures and equipment now or hereafter attached to or used in connection with said premises. The Mortgagor hereby covenants and agrees that they are lawfully seized of said premises, that they are free from all encumbrances, and hereby covenants to warrant and defend the title of said premises against the lawful claims of all persons whomsoever. And the Mortgagor covenants and agrees with the Mortgagee as follows: 1. That they will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due on the note, on any interest paying date prior to maturity. 2. That the Mortgagor will pay all ground rents, taxes, assessments, water rents and other governmental or municipal charges, or other lawful charges, and will promptly deliver the official receipts therefor to the said Mortgagee. In default thereof the Mortgagee may pay the same, and all sums so paid shall be added to and considered a part of the above indebtedness hereby secured, and shall draw interest at the same rate. RECEIVED 9/7/2007 at 10:45 AM RECEIVING # 932916 BOOK: 671 PAGE: 440 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 'iltD044~1 3. That nothing shall be done on or in connection with said property which may impair the Mortgagee's security hereunder; the Mortgagor will commit, permit or suffer no waste, impairment or deterioration of said property nor any part thereof, and said property shall be continuously maintained in good and sightly order, repair and condition by the Mortgagor at their expense. 4. That they will keep the improvements now existing or hereinafter erected on the said premises, insured as may be required from time to time by the Mortgagee against loss by fire and other hazards, casualties, and contingencies in such amounts and for such periods as may be required by the Mortgagee and will pay promptly, when due, any premiums on such insurance. All insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss it will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by the Mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor and the Mortgagee, jointly, and the insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damages. I n event of foreclosure of this mortgagee or other transfer of title to the said premises in extinguishment of the indebtedness secured hereby, all right, title, and interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 5. That in case the Mortgagor defaults in the payment of ground rents, if any, taxes, assessments, water, or other governmental or municipal charges, or other lawful charges, as herein provided, the Mortgagee may without notice or demand pay the same and in case of failure on the part of the Mortgagor to comply with the covenants of paragraph 3 hereof, the Mortgagee may effect such repairs as it may reasonably deem necessary to protect the property, at the expense of the Mortgagor. The Mortgagor covenants and agrees to repay such sums so paid and all expenses so incurred by the Mortgagee, with interest thereon from the date of payment, at the same rate as provided in the note herein described, and the same shall be a lien on the said premises and be secured by the said note and by these presents and in default of making such repayments, the whole amount hereby secured, if not then due, shall, if the said Mortgagee so elects, become due and payable forthwith, anything herein contained to the contrary notwithstanding. 6. That in the event the property covered hereby is sold under foreclosure and the proceeds are insufficient to pay the total indebtedness secured hereby, the Mortgagor binds themselves to pay the unpaid balance, and the Mortgagee will be entitled to a deficiency judgment. 7. Upon occurrence, with respect to any Mortgagor, Assignee, maker, endorser or guarantor hereof, of any of the following: Calling of a meeting of creditors; application for, or appointment of, a receiver of any of them or their property; filing of a voluntary or involuntary petition under any of the provisions of the Bankruptcy Act or amendments thereto; issuance of a warrant or attachment; entry of a judgment; failure to pay, collect or remit any tax or tax deficiency, Federal, State or local, when assessed or due; death dissolution; making, or sending notice of an intended bulk sale; mortgage or pledge of any property; suspension or liquidation of their usual business; failure, after demand, to furnish financial information or to permit inspection of any books or records; default in payment or performance of this mortgage or any other obligation to, or acquired in any manner by payee, or if the condition or affairs of any of them shall change as in the opinion of the Mortgagee or other legal holder thereof, shall increase its credit risk--this mortgage and all other obligations, direct or contingent, of any maker or endorser hereof to payee shall become due and payable immediately without notice or demand. 2 \¡}D044~;: That in case default shall be made in the payment, when due, of the indebtedness hereby secured, or of any installment thereof, or any part thereof, or in case of breach of any covenant or agreement herein contained, the whole of the then indebtedness secured hereby, inclusive of principal, interest, arrearages, ground rents, if any, taxes, assessment, water charges, expenditures for repairs or maintenance, together with all other sums payable pursuanttothe provisions hereof, shall become immediately due and payable, at the option of the Mortgagee, although the period above limited for the payment thereof may not have expired, anything hereinbefore or in said Note contained to the contrary notwithstanding, and any failure to exercise said option shall not constitute a waiver of the right to exercise the same at any other time, and it shall be lawful for the Mortgagee to proceed to enforce the provisions of this mortgage either by suit at law or in equity, as it may elect, or to foreclose this mortgage by advertisement and sale of the above- described premises, at public venue, for cash, according to Wyoming statutes governing mortgage foreclosures, and cause to be executed and delivéred to the purchaser or purchasers at any such sale a good and sufficient deed or deeds of conveyance of the property so sold and to apply the net proceeds arising from such sale first to the payment of the costs and expenses of such foreclosure and sale and in payment of all moneys expended or advanced by the Mortgagee pursuant to the provisions of paragraph 5 hereof, and then to the payment of the balance due on account ofthe principal indebtedness secured hereby, together with interest thereon and the surplus, if any, shall be paid by the Mortgagee on demand, to the Mortgagor. There shall be included in any or all such proceedings, a reasonable attorney's fee. In case the mortgagee shall fail promptly to foreclose upon the happening of any default, it shall not thereby be prejudiced in its right of foreclosure at any time thereafter during which such default shall continue and shall not be prejudiced in its foreclosure rights in case of further default or defaults. 8. That in case of any default whereby the right of foreclosure occurs hereunder, the Mortgagee shall at once become entitled to exclusive possession, use, and enjoyment of all property aforesaid, and to all rents, issues and profits thereof, from the accruing of such right and during the pendency of foreclosure proceedings and the period of redemption, if any there by, and such possession, rents, issues and profits shall at once be delivered to the Mortgagee on request, and on refusal, the delivery of such possession, rents, issues, and profits may be enforced by the Mortgagee by any appropriate civil suit or proceeding, including action or actions in ejectment, or forcible entry or unlawful detainer, and the 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, if any there be, and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of the Mortgagor, 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, and such Receiver may be appointed by any court of competent jurisdiction upon ex parte application, and without notice (notice being hereby expressly waived and the appointment of any such Receiver on any such application without notice being hereby conse'nted to by the Mortgagor on the Mortgagor's own behalf), and 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. No failure by the Mortgagee or any legal holder hereof to enforce any right set forth herein nor the granting of any extension of time nor taking of additional security, nor partial release of security or the making of future advances, shall act to constitute a waiver of the right to enforce any and all remedies provided herein nor shall it act to discharge or release the collateral. 10. That the covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, executors, administrators, Mortga§e Deed O~0443 successors, and assigns of the parties hereto. Whenever used, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders. 11. Mortgagor is not aware of any Hazardous Substance installed, stored, disposed of or otherwise located on or in the property. 12. Mortgagor shall not allow any Hazardous Substance to be brought onto, installed, used, stored, treated, disposed of, or transported over the property without prior written consent from Mortgagee. 13. All activities and conditions on the property are currently in compliance with any applicable law. Mortgagor covenants and agrees that all activities on the property shall at all times comply with any applicable law. 14. Five days after receipt or completion of any report, citation, or, other written or oral communication concerning the property from any government agency empowered to enforce, investigate, or oversee compliance with any applicable law, Mortgagor shall notify Mortgagee in writing of the contents of such communication, and shall provide Mortgagee with a copy of all relevant documents. 15. Notwithstanding any other provision of this Mortgage, upon discovery of any Hazardous Substance on or in the property, Mortgagor shall immediately notify Mortgagee thereof. Mortgagor shall immediately take all actions necessary (i) to comply with laws requiring notification of government agencies concerning such Hazardous Substance, (ii) to remedy or correct the condition, and (iii) to remove from the property all such Hazardous Substances. Mortgagor shall handle and dispose of such substances in accordance with any applicable law. Mortgagor shall take any and all actions necessary to obtain reimbursement or compensation from persons responsible for the presence of any Hazardous Substance on the site. Mortgagee shall be subrogated to Mortgagor's rights in all such claims. 16. Mortgagor agrees to indemnify Mortgagee, defend with counsel acceptable to Mortgagee, and hold Mortgagee harmless from and against any claims, legal and administrative proceedings, judgments, damages, punitive damages, penalties, fines, costs, liabilities, interest or losses, attorneys' fees, consultant fees, and expert fees that arise directly or indirectly from or in connection with the presence, suspected presence, release or suspected release of any Hazardous Substance whether into the air, soil, surface water or ground water at the property, or any other violation of any applicable law whether by negligent or intentional activities of Mortgagor or any third party; or any breach of the foregoing representations and covenants. The indemnities described above specifically include but are not limited to the direct obligation of Mortgagor to promptly perform any remedial or other activities required, ordered or recommended by any administrative agency, government official, or third party, or otherwise necessary to avoid injury or liability to any person or property, to prevent the spread of any pollution or Hazardous Substance. ' 17. Mortgagee shall have the right to enter and inspect the condition of the property at any time and to conduct, or to designate a representative to conduct such inspection, testing, environmental audit or other procedures which mortgagee believes are necessary to determine current compliance with the covenants and representations contained herein. 18. Nothing contained in this Mortgage shall obligate Mortgagee to take any action with respect to the property or to take any action against any person with respect to such substances, condition or activity. 19. The term "Hazardous Substance" as used herein shall mean any substance which at any time shall be listed as "hazardous", "toxic" or "carcinogenic" Mortgage Deed 4 AU5·Lö, '''''' ~;aöAM LAI~\"A~ltK LAW VII \~' "\", NO,UIJ" " IL n .''":ì. ,('1\ AI ~,SJ 'U' v' 'U.." ~,q ,":t in any applicable law or regulation implementing such applicable law including but not limited to the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLAn), 42 U.S.C. Sections 9601 et seq.; the Resource Conservation and Recovery Act ("RCRA"), 42 U.S.C. Section 6901 et seq.; and the Atomic Energy Act of 1954 as amended, 42 U.S.C. Sections 3011 et seq. IN WITNESS WHEREOF, the Mortgagor has caused these presents to be signed effective as of the 27th day of August, 2007. STATE OF NQ.W ~r~y COUNTY OF lj; U)~SQ,X ss. The foregoing instrument was acknowledged before me by Don George Linford and Maria ,Carmem Ferreira Linford, this ~ day of August, 2007. WITNESS my hand and official seal. lU, ~~ Notary Public K.B. MURTHY NOTARY"PUBtIC OF NEW JERSEY , CommlssionExplres6/3/2012- .' ,<,"1 , ',", ''!:- -I... ;S i; ~:~ ~ I.~ o . . ., .'.,. ç), .~ , I . .-...' ;"'>'" ~', \ '-""~ " ) : ) t") " :,¡ :. J ; : '';''f .. ' ,." -'11""."".,. Mortgage Deed 5 Professlonel Land Surveyors Paul N, Scherbel Wyo, Reglslralion No. 164 Ulah Regfslrallon No, 1670 Idaho ReglslraUon No. 3990 Nevada Reglslrallon No, 6805 Scoll A, Scherbel Wyo, ReglslraUon No, 3069 Idaho Regi'lrallon No. 8026 Ulah Reglslrallon No. 372111 MARLOWE A, SCHERBEL ' 'Nyo, Regislrallon No, 5368 Surveyor Scherbel. LTO, AHon, Wyoming BI9 Piney, Wyoming Jackson, Wyoming Lava Hol Springs, Idaho Montpelier, Idaho DESCRIPTION FOR O.o044S GEORGE L. LINFORD FAMILY REVOCABLE TRUST DATED 24 AUGUST 2004 DON LINFORD TRACT To-wit: - - That 'part of the SE%SE% of Section 4, T31N Rl19W, Lincoln Cqunty, Wyoming, being part of that tr~ct of record in the Office of the Clerk of Lincoln County in Book 566 of Photostatic Records on page 331, described as follows: BEGINNING at a point on the east line of said SEY4SEY4, NOoo-56'-00"E, 448.00 feet, fl.-om the southeast COf11er of said Section 4; thence N90o-00'-OO"W, 286.00 feet, to a point; thence NOOO-56' -OO"E, 231.18 feet, to a point; thence N900-00' -OO"E, 286.00 feet, to a point on the east line of said SEY4SE%; thence SOoo-56'-00"W, 231.18 fèet; along said east line, to the POINT OF BEGINNING; ENCOMP AS SING an area of 1.52 acres, more or less; the BASE BEARING for this survey is the east line of the SE}4 of Section 4, T31N g,119W, being NOOO-56'-00"E. TOGETHER with the ri.ght of ingress and egress described in eas,~ment recorded in said Oílìce in Book 270 Photostatic Records 011 page 593. each "corner" found as described in the Corner Record filed or to be filed in the Office of the Clerk ofLillcoln COlmty; each "point" marked by a 5/8" x 24" steel reinforcll1.g rod with a 2" aluminum cap lllscribed, "SURVEYOR SCHERBEL LTD AFT ON WY PLS 5368", with appropriate details; all in accordance with the plat prepared to be filed in the Office Qf the Clerk of Lincoln County titled, "FAMILY EXEMPT TRACT FOR GEORGE 1. LINFORD FAMILY REVOCABLE TRUST DATED 24 AUGUST 2004 WITHIN THE SE%SEY4 SECTION 4 ~@ ~INCO,LN C~)/ YOMlNG", dated 16 July 2007, as revised. ø"~. ;/ írwr ~" A· ~~,:"",_,,- "--... .. - "- "Modification ill any way of tile fnrpnoing description terminates liability of tl1r n,,~ '~"or"