Loading...
HomeMy WebLinkAbout935599 PROMISSORY NOTE 00V272 DATE: Octoberl' 2007 AMOUNT: $ 85,000.00 FOR VALUE RECEIVED, RICHARD KUNKLE, MARIA SIMENTAL and JUSTIN VICTOR KALLAL, (Makers), promise to pay to the order of COLTER'S LODGE, INC., a Wyoming Close Corporation, or their assigns, the sum of Eighty-Five Thousand Dollars ($85,000.00). This Promissory Note (Note) shall bear interest at the rate of eight percent (8%) per annum. The tenn of the Note shall be five (5) years, however the interest and principal payments due on the Amount shall be calculated at a two hundred forty (240) month amortization. The Note shall be paid at the rate of Seven Hundred Ten Dollars ($710.00), principal and interest, per month commencing October 15,2007, and continuing on the same date of each succeeding month for sixty (60) months, the balance of Seventy-Four Thousand Three Hundred Two Dollars ($74,302.00), shall be due and payable on October 15,2012. Payments shall be first applied to principal and then the reduction of interest. The Makers may prepay the principal of this loan without penalty. Any prepayment will not reduce the annual installments but will operate only to mature this note at an earlier date. Time is of the essence and if the annual payment is not received by the 15th of each month, the Makers will be in default, and Colter's Lodge, Inc. may proceed against the security given to secure this Note. Failure by Makers to pay any installment or installments hereon when due shall entitle Colter's Lodge, Inc. to declare the whole of the unpaid balance on this note due and payable on demand. The Makers hereby severally accept the conditions hereon and expressly waive presentment for payment, protest and notice of protest for nonpayment hereof and all defenses on the grounds of any extension of time of payment that may be given by Colter's Lodge, Inc. to them. In the event of suit to enforce payment of this note for any installment, interest, or part thereof, the Makers agree to pay, in addition to the costs and disbursements provided and allowed by law, a reasonable attorneys fees. KALLAL, KUNKLE & SIMENTAL PROMISSORY NOTE October 2007 Page 1 of2 RECEIVED 12/17/2007 at 9:03 AM RECEIVING # 935599 BOOK: 681 PAGE: 272 JEANNE WAGNER LINCOLN COUNTY CLE . VlMERER, WY L/4- Dated this ~ day of October, 2007 000273 ~~ RICHARD KUNKLE ~ MARIA SIMENTAL ¿¿-// JU§TIN VICTOR KALLAL STATE OF WYOMING ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me by Richard Kunkle, Maria Simental and Justin Victor Kallal, Makers, this 6~ day of October, 2007. . al seal. c~~(;~h ¿(jl/?{ 0-..,/ NOTARY PUBLIC My Commission Expires: 4/25/2010 I I KALLAL, KUNKLE & SIMENTAL PROMISSORY NOTE October 2007 Page 2 of2 MORTGAGE 000274 RICHARD KUNKLE and MARIA SIMENTAL, Mortgagors, to secure the payment of the sum of Eighty-Five Thousand Dollars ($85,000.00) due, with interest thereon at the rate of eight percent (8%) per year, for a term of two hundred forty months, according to the terms of the Promissory Note dated October .tÞ2007, hereby mortgage and warrant to COLTER'S LODGE, INC., a Wyoming Close Corporation, its successors or assigns, Mortgagee, of Lincoln County, Wyoming to-wit: Lot 66 of Star Valley Ranch Plat 12, Lincoln County, Wyoming as described in (Û the official plat thereof. If default occurs in the payment of the indebtedness or in the payment of any installment thereof, or if default occurs in any of the covenants and agreements hereof, then the whole indebtedness shall, at mortgagee's option, become due and payable forthwith, and mortgagee may foreclose this mortgage either by advertisement and sale of the premises as provided by statute, or by an action in equity. Out of the proceeds of any foreclosure sale, mortgagee shall retain or receive all sums due to it hereunder, and costs of foreclosure and sale including attorney fees in an amount equal to ten percent of the indebtedness remaining unpaid at the time of such sale, the same to be taxed as costs in any equitable action brought to foreclose this mortgage. To fully assure mortgagee the benefit of the security interests in the premises granted to it hereunder, mortgagors hereby assign to mortgagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with mortgagors' consent. If default occurs in any of the covenants and agreements herein contained, whether or not mortgagee elects to foreclose this mortgage on account thereof, mortgagee shall at once be entitled, and is hereby authorized, to collect the rents from the premises and to apply the same to the payment of the indebtedness secured hereby until such default is remedied. In the event of foreclosure of this mortgage upon default, mortgagee shall be entitled to the possession and enjoyment of the premises and the incident rents, issues, MORTGAGE RICHARD KUNKLE - MARIA SIMENTAL, Mortgagors COLTER'S LODGE, INC., Mortgagee Page 1 of3 and profits thereof from the time of such default and for and during the pendency of foreclosure proceedings and the period of redemption, if any. If mortgagors should fail to I surrender such possession to mortgagee promptly upon its request therefore, mortgagee may compel delivery thereof by an ejectment action or other civil proceeding appropriate to that purpose. 00(;275 Furthermore and 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 mortgagors, 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 default to the expiration of any redemptive period 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 to by mortgagors. Hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. This Mortgage shall be subordinate only to the Mortgagor's first priority mortgage held by C"'<M~,1..-1 W,ctr... WITNESS our hands this ~-\\-\ day of O(Ãv~~007. ¡;~~ RICHARD KUNKLE L-. \~_~ MARIA SIMENTAL INTENTIONALL Y LEFT BLANK ACKNOWLEDGEMENT ON FOLLOWING PAGE MORTGAGE RICHARD KUNKLE - MARIA SIMENTAL, Mortgagors COLTER'S LODGE, INC., Mortgagee Page 2 of3 STATE OF WYOMING ) ) SS. COUNTY OF LINCOLN ) OOÚ27G The foregoing instrument was acknowledged before me this o Ðt I!G _ J KLE and MARIA SIMENTAL. COUNTY OF i& STATE OF TETON ~ WYOMING M Commission Expires 4/25/2010 5¡r\ day of My Commission Expires: ~I (,) ~...v~ iO vIÁ ~ NOTARY PUBLIC MORTGAGE RICHARD KUNKLE - MARIA SIMENTAL, Mortgagors COLTER'S LODGE, INC., Mortgagee Page 3 of3 MORTGAGE OOÓ277 JUSTIN VICTOR KALLAL, Mortgagor, to secure the payment of the sum of Eighty-Five Thousand Dollars ($85,000.00) due, with interest thereon at the rate of eight percent (8%) per year, for a term of two hundred forty months, according to the terms of the Promissory Note dated October ~~ 2007, hereby mortgages and warrants to COLTER'S LODGE, INC., a Wyoming Close Corporation, its successors or assigns, Mortgagee, of Lincoln County, Wyoming to-wit: Lot 133 of Star Valley Ranch Plat 5, Lincoln County, Wyoming as described on the official plat thereof. If default occurs in the payment of the indebtedness or in the payment of any installment thereof, or if default occurs in any of the covenants and agreements hereof, then the whole indebtedness shall, at mortgagee's option, become due and payable forthwith, and mortgagee may foreclose this mortgage either by advertisement and sale of the premises as provided by statute, or by an action in equity. Out of the proceeds of any foreclosure sale, mortgagee shall retain or receive all sums due to it hereunder, and costs of foreclosure and sale including attorney fees in an amount equal to ten percent of the indebtedness remaining unpaid at the time of such sale, the same to be taxed as costs in any equitable action brought to foreclose this mortgage. To fully assure mortgagee the benefit of the security interests in the premises granted to it hereunder, mortgagors hereby assign to mortgagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with mortgagors' consent. If default occurs in any of the covenants and agreements herein contained, whether or not mortgagee elects to foreclose this mortgage on account thereof, mortgagee shall at once be entitled, and is hereby authorized, to collect the rents from the premises and to apply the same to the payment of the indebtedness secured hereby until such default is remedied. In the event of foreclosure of this mortgage upon default, mortgagee shall be entitled to the possession and enjoyment of the premises and the incident rents, issues, MORTGAGE JUSTIN VICTOR KALLL, Mortgagor COLTER'S LODGE, INC., Mortgagee Page 1 of3 and profits thereof from the time of such default and for and during the pendency of OOO~78 foreclosure proceedings and the period of redemption, if any. If mortgagor should fail to surrender such possession to mortgagee promptly upon its request therefore, mortgagee may compel delivery thereof by an ejectment action or other civil proceeding appropriate to that purpose. Furthermore and 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 mortgagors, 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 default to the expiration of any redemptive period 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 to by mortgagors. Hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. This Mortgage shall be subordinate only to the Mortgagor's first priority mortgage held by ,1Jo ~.~ WITNESS my hand this 5-rh day of () 6TD Bee..-, 2007. k// J~TIN VICTOR KALLAL STATE OF WYOMING ) ) SS. COUNTY OF LINCOLN ) Ot~'a.Y The foregoing instrument was acknowledged before me this '3tr\ day of ~, 2007, by JUSTIN VICTOR KALLAL LEAH WILLCOX - NOTARY PUBLIC COUNTY OF t& STATE OF TETON ~ WYOMING My Commission Expires 4/25/2010 c~ß--h tDvt{ c-,¡... NOTARY PUBLIC My Commission Expires: 4/ZS/1DI D MORTGAGE JUSTIN VICTOR KALLL, Mortgagor COLTER'S LODGE, INC., Mortgagee Page 2 of3 000279 MORTGAGE JUSTIN VICTOR KALLL, Mortgagor COLTER'S LODGE, INC., Mortgagee Page 3 of3