HomeMy WebLinkAbout874283
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023014851
RECEIVED
LINCOLN COUNTY CLERK
874283
o I JUL - 3 fU'1 8: 39
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1<I::MMEFlER iVYOMING
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BOOK~____PR PAGE_~_,.
State of Wyoming
Space Above This Line For Recording Data
MORTGAGE
(With Future Advance Clause)
1. DATE AND PARTIES, The date of this Mortgage (Security Instrument) is P.~-f.1:~.QQL................................... and the
parties, their addresses and tax identificationnunibers, if required, are as follows:
MORTGAGOR: RANDAll C. PERRY AND CAROL DEE PERRY, HUSBAND AND WIFE
777 HWY 237
AFT ON, WY 83110
o If checked, refer to the attached .Addendum incorporated herein, for additional Mortgagors, their signatures and
acknowledgments.
LENDER;
THE BANK OF STAR VALLEY
384 WASHINGTON STREET
PO BOX 8007
AFTON, WY 83110
83.0315143
2. CONVEYANCE, For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure
the Secured Debt (defined below) and Mortgagor's performance under this Security Instrument, Mortgagor grants, bargains,
conveys, mortgages and warrants to Lender, with power of sale, the following described property: SEE EXHIBIT "A" ATTACHED HERETO
AND MADE A PART HEREOF.
The property is located in ............................... .~I~,GQ~N.. ... ... ... ... ... ... ........... at 7.F.. H.V'!'fJ;JZ. ...... ... ...... ... ... ... ... ......
(County)
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ..., ..................... ..~f.T.Q~. ... ... ... ... ... ... ... ., Wyoming ........ .&~)J.Q...... .. '
(Address) (City) (ZIP Code)
Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights,
ditches, and water stock and all 'existing and future improvements, structures, fixtures, and replacements that may now, or at
any time in the future, be part of the real estate described above (all referred to as "Property").
3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at anyone time shall not
exceed $ ~.Q,P.Qq..Qq.....................,.................... . ThIS limitation of amount does not include interest and other fees and
charges validly made pursuant to this Security Instrument., Also, this limitation does not apply ,to advances made under the
terms of this Security Instrument to ,protect Lender's security ~d to perfonn any of the covenants contained in this Security
Instrument.
4, SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defmed as follows:
A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
below and all their extensions, renewals, modifications or substitutions. (You must specifically identify the debt(s)
secured and you should include the final maturity date of such debt(s).)
PROMISSORY NOTE DATED 1l6/2111l11N THE AMIlUNT OF $60,1l1l0.OO
WYOMING - HOME EQUITY LINE OF CREDIT MORTGAGE (NOT FOR FNMA, FHLMC, FHA OR VA USE)
@1994 B8nk_,nOo,St. Cloud. MN Form OCP-REMTG.WY 10/7/96 _
(page 1 of 4)
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826
11. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be
required to pay to Lender funds for taxes and insurance in escrow.
12. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND, All duties under this
Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but does not sign an evidence of debt,
Mortgagor does so only to mortgage Mortgagor's interest in the Property to secure payment of the Secured Debt and
Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between
Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim
against Mortgagor or any party indebted under the obligation. These rights may include, but are not limited to, any
anti-deficiency or one-action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors and
assigns of Mortgagor and Lender.
13. SEVERABILITY; INTERPRETATION, This Security Instrument is complete and fully integrated. This Security Instrument
may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement
related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly
permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its
terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever
used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security
Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is
of the essence in this Security Instrument.
14. NOTICE, Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to
the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to
one mortgagor will be deemed to be notice to all mortgagors.
15. WAIVERS, Except to the extent prohibited by law, Mortgagor waives any right regarding the marshalling of liens and assets
and all homestead exemption rights relating to the Property.
16, LINE OF CREDIT, The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a
zero balance, this Security Instrument will remain in effect until released.
17. APPLICABLE LAW, This Security Instrument is governed by the laws as agreed to in the Secured Debt, except to the extent
required by the laws of the jurisdiction where the Property is located, and applicable federal laws and regulations.
18. RIDERS. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend
the terms of this Security Instrument.
[Check all applicable boxes]
o Assignment of Leases and Rents 0 Other ... ... ... ... ... ... ... ... ... ... ... ... ... ...... ... ... ... ... ... ...... ... ... ...... ... ... ......... .....
19. 0 ADDITIONAL TERMS.
SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Security Instrument and in any
attachments. Mortgagor also acknowledges receipt of a copy of this Security Instrument on the date stated on page 1.
.~~RyCTY""U"(D;~;' (~~~R~"U".'.""'U'U'U'~~)'.
ACKNOWLEDGMENT: ~.
STATE OF WY.QIYIJf1lG.................................., COUNTY OF ...... LU1 C-.fl./.n........................} Ss.
(Individual) This instrument was acknowledged before me this ...... ..?1 ~.1:....... day of A~~.E,.?99.1........................................
~y.~:=~.:~.~~~:~.~:~~k~~!~i~'~ ;~i~.Q A~P. Wlf.~........ ......... .......... ............. ... ..;..... I'" ... ............ ....... .
aronWalker Nt' _-~~h--f............
C .0 ary PubliC (Notary Public) . .~
ounty of
Lincoln State of
Wyomrng
CommiSSion Ex ires une 14. 2004
@1994 Ranker.!l SysMml!ll. Itlc._ St. Cloud, MN Form OCp.REMTG~WY 1017/9B
(page 4 of 41
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I i.;. /..' ~r -.. .:
U8"',1\2S;l
8 2 'I
EXlllBIT "A:'
Beginning at the Northwest Comer of Section One (1) in Township Thirty-Two North,
Range 119 West of the Sixth Principal Meridian, and running thence Ease Seventy (70)
rods; thence South Thirty-Two (32) rods; thence East Ten (10) rods; thence South Forty-
Eight (48) rods; thence West Eighty (80) rods; thence North Eighty (80) rods, to the place
of beginning.
Beginning at a point 70 rods East of the Northwest Comer of Section One (1), Township
Thirty~ Two (32) North, Range 119 West ofthe 6th P.M., Wyoming and running thence S
32 rods; thence East 10 rods; thence North 32 rods; thence west 10 rods to the place of
beginning.
The Southwest Quarter of the Northwest Quarter (SWl/4NWl/4) of Section One (1)
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