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HomeMy WebLinkAbout936559 ~ ;>0, . .~ ~Q ...-..: 1.:,. ;5'8 "j t::: \... 0 ç;,.." ~ ~þ: z¡. i-o ',:_ = ~!) (;) 0 .S:::; ~ 15 '8 B .~ ~ ~ ~i ~ ..~~.. ?~ . ~:~; .,) r-~ ~ F~ :a "-< , . MARK DEARDEN PAULA DEARDEN UTAH POWER CREDIT UNION 1407 W NORTH TEMPLE #120C SALT LAKE, UTAH 84116 1135 COULSON AVENUE KEMMERER, WYOMING 83101 MORTGAGOR "I" includes each mortgagor above. ùOO~~ì8 MORTGAGEE "You" means the mortgagee, its successors and assigns. REAL ESTATE MORTGAGE: For value received, I, MARK DEARDEN AND PAULA DEARDEN, husband and wife, mortgage, grant and convey to yoll, with power of sale on January :u, 2008 the real estate described below and all rights, easements, appurtenances, rents, leases and improvements and fixtwes that may now or at any time in the future be part of the property (all ca1Ied the "property"). PROPERTY ADDRESS: 1135 COULSON AVENUE KEMMERER, WYOMING 83101 LEGAL DESCRIPTION: Lot 8 of Block 6 of Lincoln Heights 4th Subdivision to the Town of Kemmerer, Lincoln County, Wyoming as described on the official plat thereof. located in LINCOLN County, State of WYOMING. TITLE: I covenant and W81T8Dt tide to the property. except for encwnbrances of record, municipal and zoning onlinances, cwrent taxes and assessments not yet due and SECURED DEBT: This mortgage secures repayment of the secured debt and the performance of the covenants and agreements contained in this mortgage and in any other document incoqxllated herein. Secured debt, as used in this mortgage, includes any amounts I may at any time owe you under this mortgage, the instrmnent or agreement described below, any renewal, refinancing, extension or modification of such instrument or agreement, and, if applicable, the future advances described below. The secured debt is evidenced by (describe the instrwnent or agreement secured by this mortgage and the date thereof) ¿i The above obligation is due and payable on February 15, 2023, if not paid earlier. The tolaI unpaid balance secured by this mortgage at anyone time shaJ1 not exceed a maximwn principal amount of FORTY-FIVE mOUSAND and 00/100 Dollars (545,000.00), plus interest, and all other amounts, plus interest, advanced under the terms of this mortgage to protect the secwity of this mortgage or to peIfolUl any of the covenants and agreements contained in this mortgage. D Future Advances: The above amount is secured even though all or part of it may not yet be advanced. Future advances are contemplated and will be made in accordance with the tenns of the note or loan agreement evidencing the secured debt and will bave priority to the same extent as if made on the date this mortgage is executed D Vaf'Ú\bll¡ Rate: The interest late on the obligation secured by this mortgage may vBI)' according to the terms of that obligation. U A copy of the loan agreement containing the tenns mder which the interest late may vBI)' is attached to this mortgage and made a part hereof . RIDERS: D ConunercjaJ D Construction D SIGNATURES: By signing below, I agree to the tenns and covenants contained on pages 1 and 2 of this mortgage. In any instruments ~~-~:-""-~a¡~:~At ~ MARK DEARDEN PAULA DEARDEN ACKNOWLEDGEMENTS: STATE OF WYOMING, County of LINCOLN ss: ~~;-_.....~';.,~..I<. ~....,,&"- ~ ~~ dayoL_ HØ\.~ f:JrrY)_ _ . The foregoing instrument was acknowledged before me by Individual or Corpondioo with Seal Corpondioo with no Seal this day of a corporation has no corporate seal. Wilness my hand and officiaJ seal. ~~~~.~~. Notary Public My Commission ExP~J) l Qj. \6;¡ I tÒaA_ "0I;ô"$~_~-~"¡)'1::J;-~ ..' .: DEBÖRÁiTïtt'.' ,....·'F·..~~,·,· >._ '. - "u"" ¡Y ;"UBUC RECEIVED 1/28/2008 at 4:18 PM RECEIVING # 936559 BOOK: 685 PAGE: 118 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY COUNTY OF LINCOLN STATE Of WYOMING ~~f~"~·., .' .~- '. -~~-,_ ~..."b. \"VY.I!d'n.J'.I.;J 1. P.ymeu.... III(!fCC 10 make all payments on the secured debt when due. Uoless we II(!fCC otherwise, any paymeota you œœive ftom me or fur my benefit will be applied first 10 any amounts I owe you on the secured debt exclusive of in1erest or principal, second, to interest and then 10 principal. If partial prepayment of the secured debt occurs fur any reason. it will not reduce or excuse any sub......-dY scbeduled payment until the oecurcd debt is paid in full. Z. Claùm apinst Title. I will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, and other cbarges relating 10 the properly wÛ 0 0 1. 7 9 due. You may reqnire me 10 provide to you copies of all notices that such amounts are due and the receipts evidencing my payments. I will defènd title 10 the property against any claims that would intpair the lien of this mortgage. You may reqnire me 10 assign any rigbts, claims or deIi:n.ses which I may have 8 8inst parties who supply labor or materials 10 improve or maintain the property. 3. Insunmce. I will keep the property insured under tenns accepIIIble 10 you at my expense and fur your benefit. This inswance will include a standard mortgage clause in your favor. You will be named as loss payee or.. the insured on any such insunmce policy. Any insurance proceeds may be applied, within your discretion, 10 either the restoration or repair of the damaged property 01" 10 the oecurcd debt if you reqnire mortgage insurance, III(!fCC 10 maintain such insurance fur ..long.. you require. 4. Properly. I will keep the property in good condition and make all repain IeaSODably necessæy. I will give you prompt notice of any loss or damage 10 the property. 5. E~ I II(!fCC 10 pay all of the expenses you incur, including reasonable attorneys' tèes, if I breach any covenants in this mortgage or in any obligation secured by this mortgage, I will pay these amounts to you.. provided in Covenant 10 of Ibis mortgage. 6.. Default aDd Aeceleratioa. If I fàiI to make any payment when due or breach any covenants under this mortgage, any prior mortgage or any obligation oecurcd by this mortgage, you may, at your option, accelerate the maturity of the secured debt and demand immcdi..... payment, and exercise any other remedy available 10 YOIL You may enfun:e Ibis mortgage by exercising any remedy provided by law, including, but not limited 10. the power of sale. You will be entitled 10 ajudgment fur any deficiency as provided by law, If you elect 10 exercise you power of sale, you will give notice of your intcDt 10 fureclose by advcrtillClllCDt and sale .. provided by law. You will pubIioh notice of the sale and sell the property according to applicable law. The proceeds of the sale will be applied first to the costs and expenses of the sale including, but not limited to, reasonable attorneys' fees, then to payment of the oecurcd debt, and fina1ly, if there is any 8Ulplus, to the persoo(s) legally entitled to it. 7. Aasipment of Renla aad Profits ud Leader in ~ion. I assign to you the rents and profits of the property, Uoless we have agreed otheIwise in writing, I may collect and retain the rents ..long..1 am out in default. If you accelerate this mortgage.. provided in paragraph 6 or ifl abandon the property, you are entitled to enter upon, lake possession and manage the property. and collect the rents and profits of the property, either in person, by agent or by court appointed œœiver, until the expiration of any period of redemption fullowing judicial sale. Except when othetwise directed by the cowt, any rents and profits you colloct will be applied first to the costs of managing the property and collecting the rents and profits, including, but out limited to, receiven fees, court costs, and reasonable attorneys' fees, and then to payments of the secured debt.. provided in Covenant l. 8. Prior Security Inluest. I will make payments when due and peñonu all other covenants under any mortgage. deed of trust, or other security ~ent that has priority over this mortgage. I will not make or pennit any modification or extension of any mortgage, deed of trust or other secmity interest that has priority over this mortgage or any note or agnoement secured thereby without your written consent. I will promptly deliver to you any notices I œœive ftom any penon whose rights in the property bave priority over your rights. 9. Leueho1cb; Condominiums; PIaDncd Unit Developmea.... III(!fCC to comply with the provisions of any lease if this mortgage is on a leasehold. If Ibis mortgage is on a unit in 8 condominilUD or a planned unit development, I will perfQm:t all of my duties under the covenants, by-laws, or regnlations of the condominium or planned unit development. u10. Aulhority of Mo........ to Perrorm for Mortpaor. If I fàiI to petfunn any of my duties under this mortgage. or any other mortgage, deed of trust, lien or other securi1y in_ that baa priority over this mortgage, you may petfunn the duties or cause them to be perfutmed. You may sign my DIIII10 or pay any amount if neceøsary fur petfunnance. If any coostruction on the property is discontinued or out carried on in 8 reasonable manner, you may do wbatever is ttCC0888I}' to protect your security inIaœt in the property, 11ús may include completing the coostruction. Your fàiIure to perfurm will out preclude you ftom exercising any of your other rights under the law of Ibis mortgage. Any amounts paid by your to protect your security interest will be secured by this mortgage. Such amounts will be due on demand and will bear interest lium the date of the payment until paid in full at the interest rate in efièct lium time to time on the secured debt. 11. Inspection. You may enter the property to inspect it if you give me notice beforehand. The notice must state the n:asonabIe cause for your inspection. 12. Coademutio.. I aasign to you the proceeds of any award or claim fur damages connected with the condemnation or other laking of all or any part of the properly. Such proceeds will be applied as provided in Covenant I. 11ús æsignment is subject to the tenns of any prior security agrœment. 13. Waiwr. By exercising any remedy available to you, you do not give up your righcs to later use any other remedy. By not exerciaing any remedy, if I default, you do out waive your right to Iater consider the event a default if it happens again. 14. Joint and Se\oeraI Liability; Co-Sipers; Su_n and Assigns Bouad. All duties under this mortgage are joint and several. If! sign this mortgage but do not sign the secured debt I do so only to mortgage my interest in the property to secure payment of the secured debt and by doing so, I do not II(!fCC to be personally liable on the secured debt. I also II(!fCC that you and any party to Ibis mortgage may extend, modifY or make any other changes in the tenus of this mortgage or the oecurcd debt without my consent. Such a change will not release me &om the tenus of this mortgage. The duties and benefits of this mortgage sba1l bind an benefit the SUCCOSSOI1l and assigns of either or both of us. 15. Noliœ. Uoless otherwise required by law, any notice to me sba1l be given by delivering it or by mailing it by certified mail addressed to me at the Property Address or any other address that I tell YOIL I will give any notice to you by certified mail to your address on page I of this mortgage, or to any other address which you bave designated. Any notice sba1l be deemed in bave been given to either of us when given in the manner stated above. 16.. Transfer of Ihe Property or . BenefidallDlerest in die MOl1Jll&or. If all or any part of the property or any interest in it is sold or InmStared without you prior written consent, you may demand immediaIC payment of the secured debt. You may also demand immediaIC payment if the mortgagor is not a natural person and a beneficial inll:rest in the mortgagor is sold or 1nmStèm:d. However. you may not demand payment in the above situations if it is prohibited by œderaI law as of the date oflbis mortgage. 17. Release. Pursuant to law, when I have paid the secured debt in full. all underlying ~ents have been terminated, and.l bave mailed to you a written request fur the release, you will release this mortgage without cbarge to me within 30 days of your œœipt of my request fur the release. III(!fCC to pay all collis to record the release. 18. Severability. Any provision or clause of this mortgage or any ~ent evidencing the secured debt which conflicts with applicable law will not be effioctive unless that law ~ or impliedly permits variations by ~ent. If any provision or clause of this mortgage or an agreement evidencing the oecurcd debt cannot be enfutœd according to its terms, this fàct will out affioct the enfurceability of the balance of the mortgage and the agreement evidencing the secured debt. 19. Waiwr of Homes lead EIemptioD.I hereby release and waive all rights under and by virtue of the homestead exemption laws ofWYOMJNG. IDII.Jno.