HomeMy WebLinkAbout936066
AMT 80-44364
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RECEIVII'l~'" 936066
BOOK: 683 PAGE: 189
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
REAL ESTA TE MORTGAGE
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6010716316
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THIS MORTGAGE is granted by ROGER LINDE, an unmarried man, as MORTGAGOR, to
TERESA SELlNG, an unmarried woman, as MORTGAGEE.
WITNESSETH:
Morlgagor, for good and valuable considerations, the receipt of which is hereby acknowledged, does hemby GRANT,
BARGAIN, SELL AND CONVEY unto the Mortgagee, his successors and assigns, alf of the fol/owing described real property,
to wit:
Lots 17, 18,19 and 20 of the Eiden Addition to the Town of LaBarge, Lincoln County,
Wyoming as described on the official plat ñ/ed on July 6, 1993 as Instrument No.
767481 of the records of the Lincoln County Clerk.
TOGETHER WITH any and alf improvements, water and ditch rights, grazing rights, rights of ways, easements,
privileges, cobling, ventilating, elevating, and irrigatíng apparatus and other equipment and fixtures of every nature
(however evidenced), tenements, h91'8ditaments and appurtenances thereunto belonging or in anywise
appettaining, now or hereafter used on said land or belónging to said Mortgagor, and any mvers/on, remainder,
rents, issues and profits thereof, hereinafter r9f9rred to as the "Property".
This grant is intended as a Mortgago, a Fixture Filing and Secu(ity Interest for the Purpose of Securing:
1. Performance of each agreement of Mortgagor herein contained, each agreement and covenant containfld in the loan
documents àssociated with this morlgage, and any extension, renewal, modification and/or amendment thereof. "Loan
documentsn :shal/ include the above describecf note, this mortgage, and any other documents or instruments signed in
connection with thiB loan.
2. Payment of the indebtedness evidenced by a promissory note of even date herewith, and any extension or renewal
thereof, in the principal Bum of FIFTY THOUSAND DOLLARS ($50,000.00), the final payment of principal and interest
thereof, if not sooner paid, to be finally due and payable FEBRUARY 7, 2008.
3. Payment of all such further sums as may hereafter be loaned or advanced by the Mortgagee for any purpose; and any
notes, drafts and/or other instruments representing such further loans, advances or expenditures shall be optional with the
Mortgagee, and shall become due and payable no later than the final maturity date of said note secured hereby; and provided
further, that it is the express intention of the parties tOthis Mortgage that it shall stand as continuing security until alf such
loans, advances or expenditures together with inter8st thereon, afE paid in fulf.
A. To protect the security of thIs Mortgage, Mortgag(J( warrants, covenants and ag(oos:
1. The property is free from af! encumbrances, except as may be desoribed hefFJin, and that Mortgagor shalf warrant and
defend the same forever against the lawful claims and demands of a/l persons whomsoever, and this covenant shall not be
extinguished by foreclosure or other transfers.
2. To keep all buildingB and other improvements .now or here'after existing in good condition and repair; to not ramoV9 or
demolish any building or other improvement thereon; to comple.te or restofE promptly and in a good workmanshiplika manner
any improvement which may ba constructed, damaged or destroyed thereon; to pay when due aI/ claims for labor performed
and materials furnished therato or thorefor; to comply with all laws affecting said property or requiring any alterations or
improvements to be made thefEon; to. not commit or permit waste thamof or thereon; to maintain, cultivate, irrigate, fertili;ze,
fumigate, prune, all in à good and husbandry like manner, the land and improvements thereto; to not change or permit change
in the use of the property; to not do anything which would fFJduce the value of the property; and do all other acts which from tha
character or ~se of said property may be reasonably necessary, the spacinc enumerations herein not rJxcluding the general.
3. To provide, maintain and deliver fire insurance satisfactory and wìth loss payable to Mortgagee; to maintain liability
insurance: to pay all premiums and charges on all such insurance when due: and to provide Mortgagee satísfactory evidance
of such insurance upon request. The amount collected under any fire or other insurance policy may, at Mottgagee's option
and determination, be applied upon any indebtedness secured hereby in such order as Mortgagee détermines, be released to
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Mortgagor in whole or part, or any combination thereof. Such application or release shall not cure or waive any default or
notice of default hereunder or invalidate aflY act done pursuant to such notice. "
4. To pay before delinquency all taxes, assessments, Òr rents affecting said property; to pay when due tlll (mcumbraflces,
charges and liens, with interest, affecting said property which are or may appear to be prior or superior hereto; and to pay all
costs, fees and expenses of this Mortgage and associated loan documents.
5. To pay immeqiately and without demand all sums expended by Mortgagee pursuant to the provisions hereof. with interest
from date of expenditure, at a rate equal to the interest rate payab~e under the promissory note described above or twelve
percent (12%) per annum, whichever is greater. '
6. To appear in and defend any action or proceeding purporting to affect the sècurity hereof or the rights or powers of
Morlgagee; to pay, on demand, all costs and expenses, including without limitation, cost of title evidence, reasonable
attorney's fees, advances, andlor costs, paid or incurred by Mortgagee to protect or enforce its rights under bankruptcy,
appellate proceedings or otherwise, and all such çosts ãnd expsnses shall become a part of the indebtedness secured by this
mortgage. . "
7. Should Mortgagor fail to mak~ any payment or to do any fÎct as herein provided, Mortgagee, but without obligatíon so to
do and without notice or demand upon Mortgagor and.withoùt 'reieasing Mortgagor from any obligation hereof, may: make or
do the same in such manner and to such extent as Mortgagee may deem flecessary to protect the security hereof, Mortgagee
being authorized to enter upon said property for such purposes; appéar in and defend any action or proceediflg purporling to
affect the seourity hereof or the rights or powers of Mortgagee; pay, purchase, contest or compromÎl;e any encumbrance,
charge or lien which in the judgment of Mortgagoo apþears to be prior or superior hereto; ¡!Jfld in exercising any such powers or
in enforcing this Mortgage by judicial foreclol;ure or otherwise, pay the necessary expense$, costs and reasonable attorney's
fees. ' , '
8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Properly and its
use, including without'limitation all environmental laws; not to use or permit the use of the Property for any unlawful or
objectionable' purpose; to remedy any environmental contamination or violation. of environmentsllaws that may occur or be
discovered in the futul"6; to allow Mortgagee access to the Property to inspect its condition and to test and monitor for
compliance with applicable laws (any inspections· pr tests made by Mortgagee shall be for Mortgagee's purposes only and
shall not be consttVed to create any responsibilitY or liability on the parl of Mortgagee to Mortgagor or to any other person),' to
forward copies of any notices received from any environmental agencies to Mortgagee; and to Indemnify and hold Mortgagee,
his employees, agents and his successors and assigns, harmless from am;! against' any environmental claIms of any kind, and
all costs and expenses incurred in connection therewith, including, without ¡imitation, attorney's fees.
9. To perform all terms and conditions of each ditch, watsr company and/or i"igation district, or other contract, if any, aod to
promptly pay all sums due or to become due under any dUBs, assessment, or contract so that no delinquency or default will
occur thereùnder; not to apply or enter into any federal, state or local program which limits or restricts the use of the Property,
in any way without prior writtefl consent of Mortgagee,: to perform all acts necessary to perfect and maintain any water permit,
certificate, license or other water interest, however designated, described in or used in conjunction with the property; any
assignment of any such interest, during the term of this mortgage, naming Mortgagee as an assignee shall be for security
purposes and shall not alter Mortgagor's obligations h.weunder; and any failvre of Mortgagor to perform any such 'obligation
shall constitute an event of default. ' '. .' ,
10. Any award of damages in connection with any condemnatiofl for public use of or injury to said property or any part
thereof, is hereby assigned and shall be paid to Mortgagee who may apply or release such monies received by him in the
same manner .and with the same effect as above provided for disposition of proceeds of fire or other insuraflce.
11. The faílu~ of Mortgagf:f: to exercise any right or option provided ~erein at any time, shall not preclude Mortgagee from
exercising tiny 'of such rights at any other time; by accepting payment of any sum secured hereby after its due date,
Mortgagee does not waive his right either to require prompt payment .when due of all other sums so secured or to declara
default for failure so to pay; all rights conferred on Mortgagee are cumulative and additioflal to any rights conferred by law; and
If any provision is found to be invalid or unenforceable, such iflvalidity or unenforceability shall not affect any other provision
hereof and the mortgage shall be construed as though such prollisiori had been Dmitted.
12. That the term "Graziflg Rights, II as herein used refers to that portion of the Properly, if any, consisting of grazing leases,
permits, licenses, pri,vileges, and preferenC6s, o'r any of them,' which have or will be assigned, mortgaged or waived to
Mortgagee, together with any additions, renf/wals, replacemer¡ts' or substitutions thereof,' if any portion of the Grazing Rights is
a leasehold interest it shall constitute a single operating vnit; and in the event of foreClosure, Mortgagee shalf have the right to
have such leasehold and the other real property sold as a unit,and not in parcels,' Mortgagor has received no notice that the
Grazing Rights have or are to be terminated, oancelled qr modified; and any termination or cancelfation of aflY of the Grazing
Rights shall constitute an event of default under this mortgage.
13. ro execute tlny instrument deemed necessary by the Mortgagee to assign, mortgage or waive such Grazing Rights; to
pay all fees and oharges, and to perform al/ acts whidh would,adverseIY.affect the Grazing Rights; to procure renewals of the
Grazing Rights upon or prior to their expiration date;. to operate the land~ covered by the Grazing Rights in conjunction with the
other rea/ estate portion of the Property and flat to conveyor attempt to convey either separately; to forward to Mottgagee
copies of any notices rec9ived by Mortgagor regarding tfJe G~aling Rights; and in the event of foreclosure of this mortgage, to
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waive all claims for preference in the Grazing Rights upon demand from the purchaser of the Property at foreclosure sale, or
from any successor to such purchaser., . ' ,
14. As additional security, Mortgagor hereby gives to and confers upon Mortgagee the right, power and authority, during th~
continuance of this mortgage, to collect the rents, issues anq profits of said property as they become due and payable;
Reserving however unto Mortgagor, prior to any default by Mortgagor in p.ayment of any indebtedness secured hereby or in
petformance 'of any agreement hereunder, the right to collect and retain such rents, issues and profits. Upon any such default,
Mortgagof may at any time without notice, either in person, by agent or court appointed receiver, and without regard to the
adequacy of any s~c¡,¡rity for the indebtedness hereby secured, enter upon and take possession of said property or any part
thereof, in his own name sue for or otherwise collect such rents, issues and profits, including those past due and unpaid, and
apply the same, less costs and expenses of operation and oollecüon, . including reasonable attorney's fees, upon any
indebtedness secured hereby, and in such order as Mortgagee may determine. The entering upon and taking possession of
said property, the co/iection of such rents, i~sues and profits and the applícalion thereof as aforesaid, shall not cure or waive
any default hereunder or invalidate any act done pursuant to any.such default notice.
15. DUE ON SALE: The indebtedness and obligations secured by this mortgage is personal to the Mortgagor and ;s not
assignable 'by Mortgagor. Mortgagee has relisd upon the credit of Morlgagor, the interest of Mortgagor in the Property and the
financial market conditions then existing when making this loao. If Mortgagor transfers or oontracts to transfer, title to or
possession of, all or part of the Property, or any equitable interest therein, whether by deed, contract for deed¡ assignment,
lease for a farm in excess of one year; lease with an option to purchase, option topurchase, or similar agreement; or if the
ownership of any corporation or partnership, owning all or any portion of the Property shall be changed either by voluntary or
involuntary sale or transfer or by operation of law, Mortgagee may declare all sums dl.le under any note, security agreement,
and/or loan documents associated herewith, immediately due and payable. Noncompliance with this covenant shall constitute
and be a defaulto' this obligation which shall entitle Mortgagee:to effectuate any and all remedies provided.
16. Time is of the essence and a material part of this agreement. In the e vent, of default, at Mortgages's option, the entire
indebtedness secured heroby shall forthwith become due and payable and interest will remain at the rate of TWEL VE P
ERCENT (12%) per annum; Mortgages shall have the righ't to foreclose the lien of this mortgage, to have a receiver
appointed in any court proceeding, to collect any rents,· issu~s and profits from the Property. and apply them against the
indebtedne:$s hereby secured; to sell the Property at foreclosu~ en masse, or as one lot or parcel at th9 option of Mortgagee,
and to exercise any rights and remedies available under the Uniform Commercial Cod@ for the State in which the property is
located; and reasonable notice if required by such Code shall be five (5) days.
17. The Mortgagee may at any time, without notice, release portions of said mortgaged premises from the/ien of this .
mortgage, without affecting the personal liability of any person for the payment of the said indebtedness or the lien of this
mortgage upon the remainder of the mortgaged premises for the full amount of said indebtedneBs then romaining unpaid.
18. Mortgagor and each of them join in this instrument for the purpose of sUbjecting each of their right, litle and interest, if
any, in the Property, whether of record or otherwise and including any right to possession, to the lien of this mortgage.
19. This mortgage, all loan docum~nts and the note(s) secured hereby shall be governed and construed according to the
laws of the State of lçJaho. .
20. This mortgage applies to, inures to the benefit pf and bir¡ds all parties hereto, their heIrs, devisees, personal
representatives, successors and assigns. The term .Mortgagee shall mean the holder and, owner of the note secured hereby;
or if the note has been pledged, the pledgee thereof. ,In lhis Mortgage, wherever the context so requires, the masculine
gender includes the feminine and/or neuter, and the singular number includes, the plural.
;þf·Dafed: )-3 ~ óe)
116 M()rIga~ (/1911) . PfI&" 1
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COUNTY OF BONNEVILLE )
Ún !!;..,.:¡' ~ ,before me, the
Roge In
ersigned, personally appeared
000:192
known or identified to me to be the person p·ers ns who name (s) are subscribed to the within instrument, and
acknowf dged to me that such he, th y she xec ted the sa~e. .
."~~~f>,,, Grego!-)' Salkind
{~~~':; Comtriission #DD343143
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