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000786
MORTGAGE DEED WITH RELEASE OF HOMESTEAD
KNOW ALL MEN BY THESE PRESENTS, that LLOYD V. WALES AND NANCY
A, WALES, husband and wife, (hereinafter designated as "Mortgagor"), of Afton, Wyoming,
Lincoln County, State of Wyoming, to secure the agreement with the payment of the principal
sum of Three Hundred and Seventy Five Thousand, Eight Hundred and Sixty Dollars
$(375,860,00), with interest commencing January 3, 2008, at Six and One Half Percent
(6.50%) per annum as evidenced by a Promissory Note of even date herewith to the order of:
GARY C JENKINS AND ROXANNE JENKINS, husband and wife, P.O. Box 18, Smoot,
Lincoln County, Wyoming, AND ALAN JENSEN AND SHELLY JENSEN, husband and
wife, P.O. Box 157, Smoot, Lincoln County, Wyoming, (hereinafter designated as "Mortgagee,")
hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of
the State of Wyoming, to-wit:
Lot 2 of Wild Flower Estates, Lincoln County, Wyoming as described on the official plat
No. 198-B filed September 26, 2003 as Instrument No. 893865 of the records of the
Lincoln County Clerk.
SUBJECT, however, to all reservations, restrictions, protective covenants, exceptions,
easements and rights-of-way of record, in sight, or in use.
TOGETHER WITH all improvements, appurtenances, hereditaments and all other
things thereunto belonging or in anywise appertaining.
Property address: 70 Braves Road
Afton WY 8311 0
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 rree rrom 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 therefore 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.
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, pennit or suffer no
waste, impainnent 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.
RECEIVED 1/14/2008 at 3:11 PM
RECEIVING # 936241
BOOK: 683 PAGE: 786
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERFR IAN
000787
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, in an
amount not less than the unpaid balance of the Promissory Note, 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. In event of
foreclosure of this mortgagee or other transfer oftitle 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 ofthe
provisions of the Bankruptcy Act or amendments thereto; issuance ofa 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.
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
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000788
principal, interest, arrearages, ground rents, in any, taxes, assessment, water charges,
expenditures for repairs or maintenance, together with all other sums payable pursuant to the
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 by advertisement and sale of the above -described premises, at public venue, for cash,
according to Wyoming statutes of governing mortgage foreclosures, and cause to be executed
and delivered 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 of the 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.
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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 thereby, 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 applications without notice being hereby consented 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, 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.
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000789
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
corninunication 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 r~levant documents.
15. Notwithstanding any o'ther 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 o.btain 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 the
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 ay 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 ofthe 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
anytime shall be listed as "hazardous", "toxic" or "carcinogenic" in any applicable
law or regulation implementing such applicable law including but not limited to the
Comprehensive Environmental Response, Compensation and Liability Act
("CERCLA"), 42 V.S.C. Sections 9601 et seq.; the Resource Conservation and
Recovery Act ("RCRA"), 42 V.S.C. Section 6901 et seq.; and the Atomic Energy Act
of 1954 as amended, 42 V.S.C. Sections 3011, et seq.
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IN WITNESS WHEREOF, the Mortgagor has caused these presents to be
signed this 3fr>.. . day of January, 2008.
000790
~ú,~-
OYD v. WALES
NiÀffl Þ<., lÙl Q 1-<\
NANCY A. ALES
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
The foregoing instrument was acknowledged before me this ':fS!. day of
January, 2008 by LLOYD V. WALES AND NANCY A. WALES.
WITNESS my hand and official..
Sheila Robertson
County of ~
Lincoln '
State of
Wyoming
~,. rE0~ ~/"'-
-
Notary Public